Klabin
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Klabin (KLBN4) investor relations material

Klabin Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary12 Feb, 2026

Executive summary

  • Achieved full production capacity in virgin fibers and packaging, with strong operational recovery in H2 2025 and positive momentum into January 2026.

  • 4Q25 performance marked by operational stability, steady sales volumes, and BRL appreciation despite scheduled maintenance shutdowns.

  • Consistent operational execution in 2025, with volume growth from new machines and price increases in paper and packaging.

  • Adjusted EBITDA reached R$1.83 billion in 4Q25 and R$7.85 billion in 2025, up 7% year-over-year, driven by higher sales volumes and price increases in packaging and paper.

  • Strategic focus remains on free cash generation, disciplined capital allocation, and leveraging operational efficiency rather than pursuing M&A.

Financial highlights

  • Q4 2025 net revenue was R$5.2 billion, down 2% year-on-year due to currency appreciation and pulp price pressure.

  • 2025 net revenue grew 7% to R$20.97 billion; adjusted EBITDA rose 7% to R$7.85 billion, with a 38% margin.

  • Free cash flow for 2025 was R$715 million; adjusted free cash flow for the last twelve months was R$3.04 billion (11.8% yield).

  • Dividend yield for 2025 was 5.3%, with R$1.215 billion paid in dividends and interest on capital.

  • Net income for 2025 was R$1.68 billion, down 18% year-over-year.

Outlook and guidance

  • Positive expectations for 2026 with higher paper production, sustained market share, and price recovery across most markets.

  • Cost guidance for 2026 reflects normalization of fiber costs and continued cost discipline, aiming for a fourth consecutive year of stable cash costs.

  • No major maintenance stoppages planned for Ortigueira and Correia Pinto units in 2026.

  • Anticipates robust free cash generation and further deleveraging over the next four to five years.

  • Entering 2026 with a focus on operational efficiency, disciplined cost and investment management, and value creation for shareholders.

Pulp sales strategy given mixed 4Q25 prices?
How did Klabin meet 2025 cash cost guidance?
Impact of asset monetization on capital structure?
Klabin's strategic focus given M&A market?
Klabin's long-term view on China's fluff production?
Paperboard mix and market share strategy 2026?
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Frequently asked questions

We, Klabin S.A., operate in the paper and pulp industry, including the manufacture of corrugated packaging for the food, chemical, textile and industrial sectors, among others. We are currently involved in a ten-year transformation process, which is aimed at achieving greater efficiency in terms of costs and quality. Our policy is based on maintaining our leadership position in the sector through sustainable growth, by investing strongly in the expansion of our productivity and competitiveness levels. Klabin S.A. was founded in 1899 and is headquartered in Sao Paulo, Brazil.

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