NY-SUZANO
9.2.2022 23:14:09 CET | Business Wire | Press release
Suzano , the world’s leading eucalyptus pulp producer and a global benchmark in the manufacture of bioproducts developed from eucalyptus, ended 2021 with record levels of operating cash generation of R$18.8 billion. The annual results demonstrate Suzano’s resilience during a period of inflated cost pressures and the company’s strong growth strategy. For 2022, the company has approved investment of R$13.6 billion.
Adjusted EBITDA, another important company performance indicator, stood at a record R$23.5 billion driven by an unprecedented EBITDA of R$6.4 billion during 4Q21.
Due to the increase in adjusted EBITDA, combined with the reduction of net debt to US$10.4 billion at the end of 2021, the ratio of net debt to adjusted EBITDA ended the year at 2.4x, compared to 4.2x at the end of 2020.
“The strong performance achieved in 2021 has laid the foundations for our 2022 investment into growth, which will be the largest in the company’s history. Our new Ribas do Rio Pardo plant will require investment of R$19.3 billion over course of three years to H2 2024 and will reach new heights in efficiency and sustainability,” says Walter Schalka, CEO of Suzano.
Production from the new plant in Mato Grosso do Sul state is due to commence H2 2024 and will increase the company’s pulp supply to meet growing demand for products derived from renewable sources.
At the end of 2021, Suzano’s strong operational results led to annual net revenue of R$41 billion. In 2021 pulp sales volume totaled 10.6 million tons, while paper sales volume was 1.3 million tons.
The company posted net income of R$8.6 billion in the year, despite the sharp increase in costs during the period that saw pulp production cash cost rise by 14% to R$690 per ton.
The company’s ESG agenda also advanced considerably during 2021, a landmark year culminating in the company’s presence at COP26. Other highlights include: the issuance of two new of sustainability linked bonds totaling US$1.5 billion, improved performance across a number of international indices, and the announcement of its Biodiversity Corridors Project which sets out to connect half a million hectares of fragmented biomes across Brazil by 2030. Suzano has made significant progress in meeting the company’s 15 long-term targets, known as the Commitments to Renewing Life , which can be tracked here: https://centraldeindicadores.suzano.com.br/en/ .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220209006155/en/
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