SUZANO
9.8.2024 00:05:27 CEST | Business Wire | Press release
Suzano, the world’s largest pulp producer, announces its financial results for the second quarter of 2024 (2Q24).
Adjusted EBITDA totaled R$6.3 billion, a 60% increase on 2Q23, reflecting higher pulp prices, favorable FX rates, increased sales volume, and reduced production costs compared to the same period last year. Operating cash generation totaled R$4.5 billion, the strongest quarterly result since 1Q23, and net revenue came to R$11.5 billion, the strongest quarterly result since 4Q22.
Pulp sales reached 2.5 million tonnes, while paper sales totaled 333,000 tonnes. The cash cost of pulp production, excluding downtime, was R$828 per tonne. Suzano reported a net loss of R$3.8 billion due to the foreign exchange impact in the financial results, with a non-cash impact until maturity of such financial transactions.
Driven by the strong EBITDA performance, Suzano’s US dollar leverage decreased from 3.5 times to 3.2 times, in line with Suzano’s expectation to execute its largest-ever capital investment project within the limits established in the company´s policy. As of the end of June, Suzano had deployed 89% of the R$22.2 billion total planned investment in the Cerrado Project, the world’s largest single-line pulp mill.
Beto Abreu, CEO of Suzano, commented:
“The Cerrado Project’s startup represents a significant milestone in Suzano´s century-long history and its future capacity for value generation. With the lowest structural cost across all our operations, the new mill will enhance our scale and competitiveness in the pulp business. At the same time, we continue to advance in other strategic avenues, including the acquisition of industrial assets from Pactiv Evergreen and taking a significant minority stake in Lenzing.”
Suzano’s new mill began operations on July 21 in the municipality of Ribas do Rio Pardo, Mato Grosso do Sul state, with an annual production capacity of 2.55 million tonnes. The mill´s ramp-up process is expected to be completed in 2Q25.
Between June and July, Suzano also announced the acquisition of a 15% stake in Lenzing, the Austria-based specialist in cellulose fiber production for the textile industry, as well as the acquisition from Pactiv Evergreen of two US-based mills that manufacture liquid packaging board and cupstock.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240808569652/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Mobileum Enables GSMA Industry Services’ Launch of VOLTIS 5G Extension, Streamlining Global 5G Roaming Verification26.2.2026 09:00:00 CET | Press release
New framework reduces bilateral testing complexity and accelerates time-to-market for next-generation roaming services Mobileum Inc. (“Mobileum”), a leading global provider of analytics and network solutions, today announced its expanded role in enabling GSMA Industry Services’ launch of the VOLTIS (Voice over LTE Interoperability & Testing Service) 5G Extension Verification Program. The new extended program goes beyond the existing VoLTE/IMS verification framework to include 5G readiness verification, providing operators with a standardized path to validate next-generation roaming and interoperability. As an appointed verification partner, Mobileum manages the end-to-end validation process, from test planning and resource validation through test execution, troubleshooting, and final reporting, delivering a streamlined, globally recognized verification experience for operators worldwide. As 5G roaming scales globally, operators face increased complexity in validating VoLTE and 5G inter
Lone Star Agrees to Acquire Central London Office Building26.2.2026 08:51:00 CET | Press release
Lone Star Funds (“Lone Star”) today announced that an affiliate of Lone Star Real Estate Fund VII, L.P. has reached an agreement to acquire 90 Whitfield Street in London, UK from Derwent London. The property, located in central London’s West End sub-market of Fitzrovia, is comprised of 107,000 total square-feet with 99,000 square-feet dedicated to fully developed office space and a retail space on the ground floor of 8,000 square-feet. The building offers highly desirable styling including floor-to-ceiling glazing and generous heights, flexible floor plates, a recently refurbished reception space and large central atrium, and the property’s top floor includes its own privately accessed 900 square-foot rooftop terrace. The asset is also located on an attractive corner position that affronts Tottenham Court Road, one of London’s principal thoroughfares, and is within walking distance of six separate tube stations providing access from across the greater metropolitan area. “We have strong
INNIO signs Definitive Agreement to Acquire Enerflex APAC Operations, Expanding Service Capabilities in the Asia-Pacific Region26.2.2026 07:34:00 CET | Press release
INNIO Group, a leading energy solution and service provider, today announced it has signed a definitive agreement with Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) to acquire their aftermarket business operations in Australia, Thailand and Indonesia. The transaction advances INNIO’s strategy to strengthen its presence in the Asia-Pacific (APAC) region and enhance customer proximity. The transaction is subject to customary closing conditions and regulatory approvals. Closing is expected during the second half of 2026. The Enerflex APAC aftermarket business operates principally in three countries and eight locations. The company offers extensive workshop and office space, as well as a strong installed base. This base is supported by long-term service agreements with major oil and gas companies. Dr. Dennis Schulze, CFO of INNIO Group, commented: “By integrating Enerflex’s expertise in the APAC region, we strengthen our service portfolio, deliver greater customer value, and accelerate growth in A
Allianz Achieves Record Operating Profit of 17.4 Billion Euros – Excellent Start to New Strategic Cycle26.2.2026 07:16:00 CET | Press release
12M 2025 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225107874/en/ Oliver Bäte, Chief Executive Officer of Allianz SEExcellent momentum and record operating profitTotal business volume rises 8.11 percent and reaches 186.9 billion euros with contributions from all segments Operating profit increases 8.4 percent to 17.4 billion euros, our highest operating profit ever Shareholders’ core net income advances 10.9 percent to 11.1 billion euros Core earnings per share (EPS) grow 12.5 percent and reach 28.61 euros Core return on equity (RoE) reaches an excellent level of 18.1 percent Solvency IIratio2 increases 10 percentage points to 218 percent supported by excellent capital generation 4Q 2025 Diversified growth and double-digit increase in shareholders’ core net incomeTotal business volume rises 6.5 1 percent with contributions from all segments Operating profit increases 3.0 percent to 4.3 billion euros, driven by excelle
Tigo Energy Showcases Real-time Active Commissioning Software at KEY 2026 Expo26.2.2026 06:00:00 CET | Press release
Next-generation commissioning system designed to help streamline solar installations delivers another Total Quality Solar innovation as Tigo expands installer loyalty program Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo,” “Company”), a leading provider of intelligent solar and energy software solutions, today announced the Company’s presence as an exhibitor at the 2026 KEY – The Energy Transition Expo in Rimini, Italy, where Tigo will preview the new active commissioning software. From basic solar-only installations to advanced solar-plus-storage configurations, the system supports installers throughout the entire jobsite workflow via the Tigo EI App, delivering on-site guidance, real-time progress visibility, and clear verification of every required step to help reduce delays, truck rolls, and commissioning uncertainty. At KEY 2026, Tigo will also showcase the latest expansions to the Installer Loyalty Program, including new eligibility tiers and segments, enhanced data support for install
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom