Suzano announced record pulp and paper sales of 12.3 million tonnes for the full year 2024, marking a 7% increase over 2023. This growth was primarily driven by the additional capacity from the new pulp mill in Ribas do Rio Pardo and contributions from recently acquired paperboard mills in the United States.
Net revenues for 2024 reached R$47.4 billion, an increase of 19% compared to 2023, boosted by higher sales volumes and favorable exchange rates for export revenues. Adjusted EBITDA grew by 31% to R$23.8 billion, while operational cash generation increased by 40% to R$16.2 billion, demonstrating robust financial health.
The new pulp mill in Ribas do Rio Pardo, a key component of the Cerrado Project, began operations on July 21 and completed its learning curve process in less than six months, significantly ahead of expectations. This operational efficiency contributed to a 6% reduction in Suzano's pulp cash cost, reaching R$828 per tonne in 2024 compared to the prior year.
Despite reporting a net loss of R$6.7 billion due to the accounting impact of US dollar-denominated debt and hedging operations, this adjustment had no immediate cash impact. Suzano's net leverage in U.S. dollars improved, falling from 3.1 times in December 2023 to 2.9 times at the end of 2024, aligning with its capital allocation discipline.
The company invested R$17.1 billion in 2024, with R$4.5 billion specifically allocated to the Cerrado Project. Suzano also returned R$2.8 billion to shareholders through its share buyback program and paid R$1.5 billion as interest on equity, underscoring its commitment to shareholder value. Additionally, Suzano committed to investing up to US$100 million over ten years in sustainability initiatives, focusing on research and education for nature protection and restoration.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.