Klabin expected to see improved operational results in second half

Itaú BBA analysts have expressed optimism regarding Klabin’s operational performance for the second half of the year. Following a visit to the Puma II unit in Ortigueira, Paraná, the bank highlighted that the company is entering its strongest seasonal period.

Key drivers for this positive outlook include the full operation of the Puma II industrial complex, which features two paper machines and the ability to produce Eukaliner. This infrastructure provides Klabin with significant flexibility to shift production between different products and markets, such as domestic and export, depending on price conditions.

Analysts noted that the company's investment thesis has shifted from project construction and ramp-up to capturing returns, increasing cash generation, and reducing debt. Additional advantages cited include rising paper and pulp prices and a structural forest advantage that maintains high productivity levels.