Klabin (KLBN11) reported net profit of R$460 million in the first quarter of 2023 (1Q24), an amount 64% lower than that reported in the same period of 2023, the company reported this Thursday morning (25).
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled R$1.652 billion in 1Q24, a 15% decrease compared to 1Q23.
Analysts, on average, expected net profit of R$583 million in the period and Ebitda of R$1.64 billion, according to LSEG data.
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The adjusted EBITDA margin reached 37% between January and March this year, down 3 pp compared to the margin recorded in 1Q23.
Net revenue totaled R$4.430 billion in the first quarter of 2024, a drop of 8% compared to the same period in 2023, mainly reflecting the drop in pulp and kraftliner prices, as well as the appreciation of the real against the dollar in the period, offset partially due to the increase in total volume sold.
The cash cost of pulp production was R$1,263 per ton in 1Q24, a drop of 7% compared to 1Q23.
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The net financial result was negative R$378 million in the first quarter of 2024, reversing financial gains of R$58 million from the same stage in 2023.
On March 31, 2024, the company’s net debt was R$21.350 billion, an increase of 2% compared to the same stage in 2023.
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The financial leverage indicator, measured by net debt/adjusted Ebitda, was 3.5 times in March/23, an increase of 0.9 pp compared to the same period in 2023.
Klabin approves dividends
The Board of Directors approved the distribution of dividends in the amount of R$330 million, an amount corresponding to common and preferred shares, at the rate of R$0.05970763088 per share and R$0.29853815440 per Unit.
They will be entitled to receive dividends according to their respective shares in Klabin’s share capital at the close of the B3 – Brasil, Bolsa, Balcão trading session on May 3, 2024 (base date) and the shares and Units will begin to be traded.” ex-dividends” from May 6, 2024.
Dividends will be paid on May 16, 2024.
The company also elected Horácio Lafer Piva as president of the board and re-appointed Cristiano Teixeira as the company’s executive president.
Tags: Klabin KLBN11 profits #1st quarter R460 million approves dividend R330 million
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 profits 64% less in the 1st quarter, at R$460 million; approves dividend of R$330 million){kind=link}