Consolidated Highlights

	1Q13	1Q14	1Q15	1Q16	1Q17	1Q18	1Q19	1Q20
Net sales revenues	864,862	929,588	1,001,494	901,399	951,989	1,005,982	1,072,534	1,161,588
Change in Fair Value of Biological Assets	43,240	55,607	44,585	36,008	42,721	42,579	19,173	68,537
Cost of Goods Sold	-451,877	-544,827	-616,703	-621,562	-629,377	-645,345	-656,520	-715,662
Depreciation / Amortization / exhaustion	-69,188	-84,425	-94,228	-89,139	-99,163	-97,752	-115,240	-104,692
Exhaustion of biological assets	-45,406	-39,336	-38,730	-26,460	-34,078	-31,146	-38,487	-21,545
Gross Profit	341,631	316,607	296,418	200,246	232,092	274,318	281,460	388,226
Selling Expenses	-98,646	-118,476	-137,567	-134,204	-146,751	-150,553	-161,709	-181,586
General and Administrative Expenses	-30,679	-31,831	-34,787	-38,641	-34,736	-37,428	-46,643	-53,176
Management Compensation	-3,675	-4,000	-4,143	-3,576	-3,790	-4,059	-3,992	-4,525
Other Operating Compensation	33,317	50,701	-3,285	-2,711	2,992	2,035	-6,156	-6,283
Equity income from subsidiaries	669	666	null	0	0	0	null	-17,004
Operating Profit before Financial Income and Equity	242,617	213,667	116,636	21,114	49,807	84,313	62,960	125,652
Financial Income	18,608	26,020	55,402	26,434	41,670	18,074	25,286	64,229
Financial Expenses	-43,246	-66,487	-101,970	-95,100	-104,504	-61,349	-53,812	-107,492
Income Before Income Tax and Social Contribution	217,979	173,200	70,068	-47,552	-13,027	41,038	34,434	82,389
Income and social contribution taxes - current	-58,387	-26,907	-10,859	-12,594	-17,567	-16,794	-18,463	-18,969
Income Tax and Social Contribution - Deferred	9,687	14,940	9,260	30,590	23,080	6,579	7,927	-11,429
Effect profit from discontinued operation	-20,362	null	null	null	0	null	0	null
Net Income	148,917	161,233	68,469	-29,556	-7,514	30,823	23,898	51,991
Recurring Net Income	142,839	131,194	68,469	-29,556	-9,278	30,823	19,262	50,560
Recurring EBITDA	280,911	240,046	214,422	106,289	148,171	182,128	179,307	200,142
EBITDA Margin	32.5 %	25.8 %	21.4 %	11.8 %	15.6 %	18.1 %	17.1 %	17.2 %

* Because of the date of the merger between Duratex and Satipel, 31.08.09, include data only from the "old" Duratex

**from 1Q 12 the data does not include discontinued operation, Deca Piazza