Klabin Reports 1Q26 Results with Revenue Growth and Operational Resilience

Klabin, Brazil’s largest producer and exporter of packaging paper and sustainable packaging solutions, reported net revenue of R$4.9 billion in the first quarter of 2026, reflecting continued operational consistency, commercial discipline, and growth across all business segments.

Sales volume reached 1.016 million tons, representing a 12% increase year-over-year, driven by higher pulp, paper, and packaging volumes as the Company continued ramping up PM27 and PM28 and leveraged its diversified business model.

Adjusted EBITDA totaled R$1.7 billion, with a margin of 34%, reflecting the impact of scheduled maintenance stoppages and the appreciation of the Brazilian real against the U.S. dollar during the period.

“Klabin continues to demonstrate resilience and operational flexibility in a volatile macroeconomic environment,” the Company said in its quarterly message. “Our diversified portfolio and disciplined commercial strategy enabled consistent performance and supported revenue growth across all businesses.”

Highlights of the Quarter

Strong Volume Growth Across Businesses

Pulp sales volume increased 16% year-over-year to 401 thousand tons, supported by resilient demand and higher production levels. Klabin continued to strategically allocate volumes across markets and channels to maximize profitability.

Paper sales volume rose 15% to 356 thousand tons, driven by growth in coated board and containerboard operations. Containerboard export volumes increased 41% year-over-year as the Company expanded into new international markets.

Packaging sales volume reached 258 thousand tons, up 3% from the same period last year, led by continued strength in corrugated boxes. Corrugated box revenue increased 9%, supported by volume expansion and pricing above inflation.

Operational and Financial Discipline

Klabin reported a total cash cost of R$3,342 per ton, in line with 1Q25 despite maintenance stoppages and inflationary pressures. The Company cited operational efficiency, improved production performance, and cost dilution from higher volumes as important mitigating factors.

CAPEX totaled R$839 million during the quarter, including investments in forestry operations, mill continuity, and modernization projects at the Monte Alegre unit.

Net debt to EBITDA measured in U.S. dollars remained stable at 3.3x, while leverage in Brazilian reais declined to 3.1x, reinforcing Klabin’s deleveraging strategy and financial discipline.

Fitch Revises Outlook to Positive

During the quarter, Fitch Ratings reaffirmed Klabin’s global credit rating at “BB+” and revised the Company’s outlook from stable to positive. According to Fitch, the revision reflects expectations for continued deleveraging supported by strong cash generation and lower investment intensity.

Sustainability Recognition

Klabin was recognized in The Sustainability Yearbook 2026 by S&P Global, ranking among the top 5% of global companies in the Containers & Packaging sector for sustainability performance. The Company was the only organization in its industry to achieve this classification in the current edition.