Consolidated Highlights

	2Q13	2Q14	2Q15	2Q16	2Q17	2Q18	2Q19	2Q20
Net sales revenues	972,001	957,595	965,058	1,012,606	916,724	1,167,477	1,144,658	1,046,439
Change in Fair Value of Biological Assets	33,663	68,150	32,218	40,427	38,582	29,271	77,464	52,439
Cost of Goods Sold	-513,249	-588,308	-585,002	-653,957	-587,806	-690,982	-733,884	-706,845
Depreciation / Amortization / exhaustion	-75,775	-89,945	-106,768	-101,631	-94,810	-131,773	-110,510	-104,493
Exhaustion of biological assets	-58,572	-49,181	-43,237	-23,022	-27,384	-64,135	-30,064	-19,079
Gross Profit	358,068	298,311	262,269	274,423	245,306	309,858	347,664	268,461
Selling Expenses	-115,425	-128,423	-139,867	-152,714	-153,004	-163,779	-169,214	-173,284
General and Administrative Expenses	-33,538	-34,997	-36,324	-34,854	-35,198	-42,553	-46,499	-54,866
Management Compensation	-2,944	-4,531	-3,361	-3,564	-3,893	-4,193	-4,080	-4,339
Other Operating Compensation	-11,770	-4,481	1,886	-7,223	32,883	194,472	5,931	-3,564
Equity income from subsidiaries	-75	-	0	0	0	0	null	-24,076
Operating Profit before Financial Income and Equity	194,316	125,879	84,603	76,068	86,094	293,805	133,802	8,332
Financial Income	30,978	29,746	44,761	42,959	44,598	39,965	19,389	34,105
Financial Expenses	-55,341	-74,481	-103,019	-122,124	-103,682	-88,509	-56,453	-67,698
Income Before Income Tax and Social Contribution	169,953	81,144	26,345	-3,097	27,010	245,261	96,738	-25,261
Income and social contribution taxes - current	-53,310	-16,303	-11,178	-38,284	-7,120	-98,089	-16,116	-9,721
Income Tax and Social Contribution - Deferred	17,891	-6,231	23,240	42,104	4,877	19,412	-11,244	11,400
Effect profit from discontinued operation	-3,798	null	null	null	0	0	0	null
Net Income	130,736	58,610	38,407	723	24,767	166,584	69,378	-23,582
Recurring Net Income	134,534	58,610	38,407	723	24,767	27,498	69,480	-21,376
Recurring EBITDA	304,236	207,512	210,200	171,657	178,097	220,019	213,303	119,023
EBITDA Margin	31.3 %	21.7 %	21.8 %	17.0 %	19.4 %	19.8 %	18.6 %	11.4 %

* 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