Suzano Invests R$18.6 Billion in 2023
29 Février 2024 - 11:42AM
Business Wire
Suzano, the world’s largest pulp producer, announces its
financial statements for the full fiscal year of 2023.
- Total investment of R$18.6 billion in 2023, a 14% increase on
FY22
- FY23 Net revenues of R$39.8 billion, a 20% decrease on
FY22
- FY23 Adjusted EBITDA of R$18.3 billion, a 35% decrease on
FY22
- FY23 Operating cash generation of R$11.6 billion, a 49%
decrease on FY22
- FY23 Pulp sales totalled 10.2 million tons, a 4% decrease on
FY22
- FY23 Paper sales totalled 1.3 million tons, a 1% decrease on
FY22
Despite the marked decline in global pulp prices over the course
of 2023, Suzano has invested over R$18bn to guarantee its future
success. It is currently finalising the construction of the Cerrado
Project, the world’s largest single-line pulp mill, and has
expanded its forestry estate, safeguarding supply and enhancing
future competitiveness.
Walter Schalka, CEO of Suzano, said:
“Our investment cycle, including the highest annual investment
ever, in 2023, represents the largest in our centennial history
with over R$50 billion spent between 2019 and 2023. A further
R$16.5 billion will be invested in 2024. In parallel, we have
maintained strong cash generation and kept net debt at a
sustainable level of US$11.5 billion, reflecting our commitment to
strategic growth and financial discipline. We faced a challenging
scenario in 2023 and our results demonstrate the company’s
resilience to generate value for our stakeholders. With the
start-up of Cerrado Project, our structural competitiveness will be
more robust in the coming years.”
As the main initiative in Suzano’s current investment plan, the
Cerrado Project will be operational by June 2024 and involves total
investment of R$22.2 billion. The new mill will add 2.55 million
tons of pulp to the company’s current installed capacity of 10.9
million tons of pulp per year.
Other major investments in 2023 include the acquisition of
Kimberly-Clark’s tissue assets in Brazil, the expansion of its
forests and landholdings base and the modernization of the Jacareí
and Aracruz units and port terminals. The company also announced
investments to build a tissue paper mill in Aracruz and a project
to quadruple the fluff pulp production capacity in Limeira mill.
Fluff pulp is the raw material used for manufacturing personal
hygiene products, such as baby and adult diapers and sanitary
napkins.
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version on businesswire.com: https://www.businesswire.com/news/home/20240228824025/en/
Hawthorn Advisors Jamie Plotnek suzano@hawthornadvisors.com
Suzano (NYSE:SUZ)
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