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
Kinaxis Unveils 2026 Customer Award Winners at Kinexions in Las Vegas4.6.2026 13:00:00 CEST | Press release
Global supply chain leaders recognized for delivering bold innovation, agility, and measurable impact Kinaxis® (TSX: KXS), a global leader in end-to-end supply chain planning and orchestration, today announced the winners of its 2026 Customer Awards. Now in their eighth year, these awards were celebrated live at Kinexions North America, the flagship premiere global conference hosted by Kinaxis, bringing together supply chain leaders from around the world. The annual awards spotlight organizations and individuals who are redefining what’s possible in modern supply chains. The winners are driving innovation, responding with agility, and delivering real business results with the Kinaxis Maestro™ platform. The awards recognized seven leading companies including Reckitt, General Motors, Lupin, Jabil, and Cardinal Health among the full list of winners. Additionally, Praveen Vasudevan (Bio-Rad Laboratories) received the champion award for their industry contributions. “Kinexions is where the
STARTEEPO Invest Increases Stake in Xerox to More Than 6% Ahead of Q2 2026 Earnings4.6.2026 13:00:00 CEST | Press release
STARTEEPO Invest (“STARTEEPO”), an alternative investment fund focused on public equity opportunities, today announced that it has increased its beneficial ownership position in Xerox Holdings Corporation (“Xerox” or the “Company”) to more than 6% of the Company’s outstanding common stock, as disclosed in an amended Schedule 13D filing with the U.S. Securities and Exchange Commission. Following the transaction, STARTEEPO beneficially owns approximately 8.0 million Xerox common shares and holds options on an additional 140,000 shares. Based on publicly available ownership disclosures, STARTEEPO is now Xerox’s third-largest shareholder. “We continue to view Xerox as a high-conviction investment and one of the largest positions in our portfolio,” said Frantisek Bostl, Chairman of the Board of STARTEEPO Invest. “Our conviction has increased as we continue to analyze the Company’s publicly available disclosures, strategic initiatives, and transformation efforts.” Increasing Conviction Ahead
Reply and IEO Launch Collaboration to Co-Develop and Train Domain-Specific Large Language Models for Oncology4.6.2026 10:10:00 CEST | Press release
Reply [EXM, STAR: REY] and the European Institute of Oncology (IEO) have launched a collaboration focused on the co-development and training of domain-specific Large Language Models for oncology. The initiative brings together Reply’s expertise in building frontier generative models grounded in enterprise knowledge with the IEO’s clinical expertise and data assets to develop models tailored to highly complex oncology settings. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604488955/en/ Reply and the European Institute of Oncology (IEO) have launched a collaboration focused on the co-development and training of domain-specific Large Language Models for oncology. As a first step, the IEO’s clinical teams and Information Systems department are working with a multidisciplinary Reply team with deep expertise in healthcare and LLM specialisation to define and prioritise the use cases that will guide development, while also map
UK AI Minister Kanishka Narayan Joins The AI Summit London as 10th Anniversary Agenda Expands Across Enterprise AI, Innovation and Policy4.6.2026 10:00:00 CEST | Press release
London Tech Week's flagship AI event will feature 300 speakers, live AI demonstrations, startup pitch competitions, executive training and the National AI Awards The AI Summit London today revealed the full agenda for its highly anticipated 10th anniversary edition, delivering its most expansive and future-focused programme to date. Taking place 10–11 June at Tobacco Dock as the headline AI event of London Tech Week 2026, the Summit expects more than 5,000 attendees, 300 speakers, 100+ sponsors and exhibitors, and a special executive presentation from Kanishka Narayan, Minister for AI and Online Safety, Department for Science, Innovation and Technology, across two days dedicated to the commercial realities and transformative potential of artificial intelligence. The 10th anniversary has been designed to move the conversation beyond experimentation and into enterprise-wide execution. New in 2026, the programme introduces The AI Impact Arena, delivering focused briefings and live demos,
Corona Launches 2026 Beach 100 Guide, Invites The World To Explore The Outdoors This Summer4.6.2026 10:00:00 CEST | Press release
Ahead of World Oceans Day, the global beach authority returns with a list of new locations, over 300,000 Tripadvisor experiences, and dedicated beach grants as part of its “This is Living” platform Corona, the world’s most valuable beer brand1, today announced the return of its annual global beach guide, the 2026 Corona Beach 100, ahead of World Oceans Day on June 8. The highly anticipated second edition spotlights 100 breathtaking and varied ocean-front destinations around the world while celebrating the natural ecosystems and local communities that help bring them to life. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604412899/en/ 2026 Corona Beach 100 - Legzira Beach, Morocco Connected to Corona’s “This Is Living” platform, which invites consumers to step outside and live life to the fullest this summer, the 2026 guide features 27 new beaches, hundreds of localized Tripadvisor travel experiences inspired by the world
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