Suzano reports results for second quarter of 2023

Walter Schalka, CEO of Suzano

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Resilience amid a challenging scenario and strong investment cycle

São Paulo, August 2, 2023. - Suzano S.A. (B3: SUZB3 | NYSE: SUZ), one of the world’s largest integrated pulp and paper producers, announces today its consolidated results for the 2nd quarter of 2023 (2Q23).


• Pulp sales of 2,513 thousand tons (-6% vs. 2Q22).

• Paper sales1 of 294 thousand tons (-9% vs. 2Q22).

• Adjusted EBITDA2 and Operating cash generation3 : R$3.9 billion and R$2.2 billion, respectively.

• Adjusted EBITDA2/ ton from pulp of R$1,269/ton (-40% vs. 2Q22).

• Adjusted EBITDA2/ton from paper of R$2,481/ton (+14% vs. 2Q22).

• Average net pulp price in export market: US$562/ton (-23% vs. 2Q22).

• Average net paper price1 of R$7,002/ton (+13% vs. 2Q22).

• Pulp cash cost ex-downtime of R$918/ton (+7% vs. 2Q22).

• Leverage of 2.2 times in USD and 2.0 times in BRL.

• Cerrado Project completes 70% of physical progress and 57% of financial progress. Forecast for the start of operations to occur by June 2024.


Pulp market scenario remained challenging in the second quarter of 2023, pressuring the quarterly results. The decline in pulp prices and the appreciation of the BRL were the main factors reducing adjusted EBITDA in the segment. In the other hand, cash production cost excluding scheduled maintenance downtimes decreased, mainly due to the drop in commodity, mainly benefiting the cost of inputs. The paper business unit delivered resilient results in the domestic market; however, the decline in export market prices contributed to the drop in EBITDA per ton during the period. Consequently, adjusted EBITDA in the quarter came to R$3.9 billion.


Source: Suzano


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