RISI - Latin American Conference. Trends and Challenges in the Brazilian Tissue Market RICARDO BOTELHO SANTHER CEO

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1 RISI - Latin American Conference Trends and Challenges in the Brazilian Tissue Market RICARDO BOTELHO SANTHER CEO Confidencial 1 17 August 2016

2 2 Confidencial

3 Agenda Introduction Sectorial Conjuncture : Summary Santher Overview Confidencial

4 1 Introduction Confidencial

5 Introduction SANTHER One of the main Brazilian companies in the tissue industry and personal care Santher general profile Location Established in 1938, with over 77 years of experience, Santher is one of the national leaders in the Brazilian market for tissue and personal care. Gross Sales: R $ 1.75 billion. 4 plants 2 distribution centers 1 headquarter Paraíba (NE) DC Alhandra Three business units : Consumer, Professional and Specialty Papers. Minas Gerais (SE) Governador ValadaresUnit Owner of highly recognized brands, positioned to capture the "premiumisation " in the Brazilian market. São Paulo (SE) The Bragança Paulista s tissue plant is one of the 15 th largest in the world. Santher is now constructing the most advanced distribution center in Latin America at this unit. Rio Grande do Sul (S) Guaíba Unit Headquarter (Capital) Penha Unit (Capital) Bragança Paulista Unit Bragança Paulista new DC employees. 635 outsourced Source: Santher Industrial and logistics large complex with versatile plants for customized production.

6 SANTHER: Three business units and leading brands Traditional and recognized brands in their respective sectors in Brazil Importance % Consumer Unit Personal Care Tissue PERSONAL - purchase volume leading brand in Brazilian households SNOB Kitchen Towels category Top Of Mind Specialty Papers 77% Professional AFH Flexible packaging : food, fruit, sachets, bags, cigarettes and fast food 33% of Brazilian market share US$ 30 MM export 14% 9% Food, office, education, industry, health, tourism and leisure 20% of Brazilian market share Source: Santher; Super varejo Trade Magazine and Kantar World Panel 2016

7 Bragança Paulista s new distribution center SP State Aerial view construction in progress

8 Bragança Paulista s new distribution center SP State Line Out ( Palletizing ) Robots

9 Palletizing (Line Out) automated by robots The latest technology. It will be the most modern distribution center in Latin America. Investments R$ 90 million - Construction and Line Out automation Construction of a new distribution center in Bragança Paulista beside Santher s main plant Project objectives Replacing the current Arujá s DC by Bragança Paulista s DC; Elimination of all products transportation between Bragança Paulista s plant and Arujá s DC; Logistic efficiency (service and security) improved by grater automation and also logistics processes and customer service enhancement; Significant change in firefighting technology; Logistics cost reduction. Solution based on automatic cars and elevators Storage Area m; Technical Features Stocks high densification; Positioning capacity increased; Automated input and output operation; Automatic transport between factory and warehouse (elevators); Line Out - Palletizing automated by robots.. Source: Santher

10 2 Sectorial Conjuncture : Summary

11 In 2016 the Brazilian toilet paper segment presents a production retraction: 1.3% vs but, in short term (May 2016), recovers due to Two Ply Toilet Paper growth % SANITARY PAPERS PRODUCTION EVOLUTION BRAZIL tons Economia Jan 2Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: Anguti Statistic Montlhly Report June 2016

12 Wide difference among worldwide countries in per capita consumption Culture, economic growth (GDP) and country development (urbanization) impacts the toilet paper consumption. Toilet paper share is expected to grow, considering the total paper market demand, due to the increase of in development countries' demand. per capita consumption of sanitary paper kg / inhabitant / year 24 4,8x Source: Pöyry

13 Brazilian tissue and personal care categories still have growth potential compared to other countries Penetration Kitcehen towels Penetration Diapers Penetration Sanitary Napkins 82% 89% 95% 95% 97% 97% 68% 68% 92% 55% 49% 81% Source: Nielsen; Non Wovens Industry 2013/2014

14 Given the Brazilian economic crisis, there is a consumption retraction and a change in purchase habits Brazilian economy is slowing Q vs PY Q vs PQ Economia Bra Source: Santher; BACEN; Ipeadata; IBGE; Nielsen Retail Index; Nielsen Global Survey of Consumer Confidence & Spending Intentions, Q1 2016

15 Given the Brazilian economic crisis, there is a consumption retraction and a change in purchase habits Situation impacts the Brazilian s income Source: Santher; BACEN; Ipeadata; IBGE; Nielsen Retail Index; Nielsen Global Survey of Consumer Confidence & Spending Intentions, Q1 2016

16 Given the Brazilian economic crisis, there is a consumption retraction and a change in purchase habits Consumer loses confidence Source: Santher; BACEN; Ipeadata; IBGE; Nielsen Retail Index; Nielsen Global Survey of Consumer Confidence & Spending Intentions, Q1 2016

17 Brazilian Consumers usually changes the consumption dynamic Population increase the number of store visiting but decrease the spent per occasion Trade Down: change for value for money brands Share of Brands Value (%) Economia Leaders Vice Leadears Others Shopping channel change = > C&C grows Cash & Carry* Search for multipacks increase Toilet Paper Two Ply 44% 42% 37% Sanitary Napkins 55% 50% 47% 56% 58% 63% 45% 50% 53% Source: Nielsen Retail Index & Homescan base: 66 Product Categories

18 Despite the crisis, the toilet paper category is trading up from one ply to two ply Consumer continues to increase Two Ply consumption 2007 = 100 Economia Bra Source:BACEN; IBGE; Nielsen Retail Index

19 Two ply toilet paper gain importance in toilet paper market IMPORTANCE OF SEGMENTS (% ) VOLUME VALUE 3 PLY 1 PLY 2 PLY Source: Nielsen Retail Index. Brasil INA 100% Toilet Paper

20 3 Santher Overview

21 Toilet Paper Market R$ 4,6 Bi Strong brand INNOVATION Logistical efficiency Full Promopack Portfolio PERSONAL is the Top of Mind brand in Toilet Paper Market ( 41%). High brand awareness (94%) Superior purchase preference Best value for money brand in the category Source: Nielsen Retail Index Quantitative research 2015 IPSOS

22 Diapers & Baby Wipes Market R$ 5 bi Strong brand INNOVATION Logistical efficiency Full Multipacks Portfolio PERSONAL is the Top of Mind brand in Toilet Paper Market ( 41%). Best value for money in Tier 3 CAGR volume: : 16,4% Above market growth (3,3%) 4ª Brand in Brazil and 2ª in Rio de Janeiro Source: Nielsen Retail Index Quantitative research 2015 IPSOS

23 Feminine Care Market R$ 2 bi Build trust Brand SYM grows 17% in volume as the market drops 5% (2014 x 2015) INNOVATION Full Promopack Portfolio Best value for money in the segment SYM has 42 % of household penetration in Minas Gerais State In this same area has a prominent position with 23.6 % market share Source: Nielsen Retail Index Quantitative research 2015 IPSOS

24 Kitchen Towels Market R$ 0,5 bi Strong brand INNOVATION Full Portifólio SNOB is the market leader Top of Mind in towels and napkins. Quality reference Premium Price Source: Nielsen Retail Index Quantitative research 2015 IPSOS

25 SANTHER brandsand productspositioning Focus on markets in the premiumisation process : Diapers and Two Ply Toilet Paper. Growth in high value markets : Sanitary Napkins and Feminine Panty Liners. Competitive advantage through constant innovation and product differentiation. Professional and Specialty Papers strengthening. Premium brands portfolio with good perception of value for money by the consumer. Brands with great proximity to the Brazilian consumer. Source: Santher Confidencial

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