Fibria posts net loss for Q3 due to negative currency effects


Fibria’s sales revenues and sales volumes remained stable quarter-on-quarter. However, due to negative currency effects, the company had to report a net loss of BRL1,1bn (€454m) for Q3 2011, compared to a plus of BRL303m (€124m) in Q3 2010.

Although Fibria’s year-on-year pulp sales are up by 7 % in Q3 2011, the company said that its market statistics for the quarter are below expectations. Q3 was a very challenging quarter for market pulp, according to the company. The pulp and paper industry was impacted by the uncertainties in the world economy and by a continuous slowdown in the demand for printing and writing paper.
Also in Q3, Fibria concluded its strategic repositioning in order to focus solely on pulp production. The Piracicaba unit, Fibria’s last paper asset, was sold to Oji Paper for US$313 million, marking its exit from the paper business.

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