Suzano announces first quarter results and Cerrado Project nears completion
World’s largest single pulp production line is set to commence operations in the coming weeks
SÃO PAULO--(BUSINESS WIRE)--
Suzano, the world’s largest pulp producer, which celebrates its centenary this year, announces its financial results for the first quarter of 2024 (1Q24). The highlight of the period is the progress of the Cerrado Project, the largest ever capital investment project by the company. The new pulp mill, under construction in the municipality of Ribas do Rio Pardo,
With a total planned investment of
Given the combined impact of the investment in the construction of the mill and lower pulp prices in recent quarters, Suzano’s US dollar leverage ended the quarter at 3.5 times, within the limits established in the company’s policy.
“This is a transformational project in Suzano’s history and marks a new and important cycle of value creation for the company. With the new unit, Suzano celebrates its centenary even more prepared to grow and benefit its stakeholders,” said Walter Schalka, CEO of Suzano.
The results also reflect the recovery trend of international pulp prices and stable production costs in relation to the previous quarter, as well as seasonal effects on sales in the sector. Suzano’s adjusted EBITDA totaled
Cash cost of pulp production, excluding downtimes, ended the quarter at
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Source: Suzano