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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2020
SEGMENT INFORMATION |
SEGMENT INFORMATION | 28. SEGMENT INFORMATION 28.1 Criteria for identifying operating segments In the financial statements for the year ended December 31, 2019, the information by segment used by the Company was disclosed, which did not change during the period. 28.2 Information of operating segments
|  | June 30, 2020 |
|  |  |  |  |  | Not |  |  |
|  | Pulp |  | Paper |  | segmented |  | Total |
Net sales |  | 12,862,936 |  | 2,113,530 |  |  |  | 14,976,466 |
Domestic market (Brazil) |  | 741,568 |  | 1,372,423 |  |  |  | 2,113,991 |
Foreign market |  | 12,121,368 |  | 741,107 |  |  |  | 12,862,475 |
Cost of sales |  | (8,246,527) |  | (1,362,166) |  |  |  | (9,608,693) |
Gross profit |  | 4,616,409 |  | 751,364 |  |  |  | 5,367,773 |
Gross margin (%) |  | 35.89 | % | 35.55 | % |  |  | 35.84 | %
Operating income (expenses) |  | (1,179,960) |  | (323,175) |  |  |  | (1,503,135) |
Selling |  | (875,343) |  | (186,691) |  |  |  | (1,062,034) |
General and administrative |  | (460,226) |  | (190,325) |  |  |  | (650,551) |
Other operating, net |  | 170,212 |  | 42,190 |  |  |  | 212,402 |
Income (loss) from associates and joint ventures |  | (14,603) |  | 11,651 |  |  |  | (2,952) |
Operating profit before net financial income ("EBIT") (1) |  | 3,436,449 |  | 428,189 |  |  |  | 3,864,638 |
Operating margin (%) |  | 26.72 | % | 20.26 | % |  |  | 25.80 | %
Financial result, net |  |  |  |  |  | (28,101,286) |  | (28,101,286) |
Net income (loss) before taxes |  | 3,436,449 |  | 428,189 |  | (28,101,286) |  | (24,236,648) |
Income taxes |  |  |  |  |  | 8,765,069 |  | 8,765,069 |
Net income (loss) for the period |  | 3,436,449 |  | 428,189 |  | (19,336,217) |  | (15,471,579) |
Profit (loss) margin for the period (%) |  | 26.72 | % | 20.26 | % |  |  | (103.31) | %
Result of the period attributable to controlling Shareholders |  | 3,436,449 |  | 428,189 |  | (19,344,269) |  | (15,479,631) |
Result of the period attributed to non-controlling shareholders |  |  |  |  |  | 8,052 |  | 8,052 |
Depreciation, depletion and amortization |  | 3,126,528 |  | 231,053 |  |  |  | 3,357,581 |
| 1) |  | Earnings before interest and tax.
|  | June 30, 2019 |
|  |  |  |  |  | Not |  |  |
|  | Pulp |  | Paper |  | segmented |  | Total |
Net sales |  | 10,055,757 |  | 2,308,324 |  |  |  | 12,364,081 |
Domestic market (Brazil) |  | 984,098 |  | 1,591,902 |  |  |  | 2,576,000 |
Foreign market |  | 9,071,659 |  | 716,422 |  |  |  | 9,788,081 |
Cost of sales |  | (8,414,712) |  | (1,532,300) |  |  |  | (9,947,012) |
Gross profit |  | 1,641,045 |  | 776,024 |  |  |  | 2,417,069 |
Gross margin (%) |  | 16.3 | % | 33.6 | % |  |  | 19.5 | %
Operating income (expenses) |  | (971,698) |  | (377,498) |  |  |  | (1,349,196) |
Selling |  | (712,005) |  | (186,279) |  |  |  | (898,284) |
General and administrative |  | (418,980) |  | (189,816) |  |  |  | (608,796) |
Other operating, net |  | 159,287 |  | (6,972) |  |  |  | 152,315 |
Income from associates and joint ventures |  |  |  | 5,569 |  |  |  | 5,569 |
Operating profit before net financial income ("EBIT") (1) |  | 669,347 |  | 398,526 |  |  |  | 1,067,873 |
Operating margin (%) |  | 6.7 | % | 17.3 | % |  |  | 8.6 | %
Financial result, net |  |  |  |  |  | (1,857,078) |  | (1,857,078) |
Net income (loss) before taxes |  | 669,347 |  | 398,526 |  | (1,857,078) |  | (789,205) |
Income taxes |  |  |  |  |  | 259,921 |  | 259,921 |
Net income (loss) for the period |  | 669,347 |  | 398,526 |  | (1,597,157) |  | (529,284) |
Profit (loss) margin for the period (%) |  | 6.7 | % | 17.3 | % |  |  | (4.3) | %
Result of the period attributable to controlling shareholders |  | 669,347 |  | 398,526 |  | (1,594,128) |  | (526,255) |
Result of the period attributed to non-controlling shareholders |  |  |  |  |  | (3,029) |  | (3,029) |
Depreciation, depletion and amortization |  | 4,455,493 |  | 239,955 |  |  |  | 4,695,448 |
| 1) |  | Earnings before interest and tax.
28.3 Net sales by product The following table set forth the breakdown of consolidated net sales by product:
|  | June 30, |  | June 30,
Products |  | 2020 |  | 2019
Market pulp(1) |  | 12,862,936 |  | 10,055,757
Printing and writing paper(2) |  | 1,661,611 |  | 1,902,733
Paperboard |  | 430,292 |  | 382,440
Other |  | 21,627 |  | 23,151
Net sales |  | 14,976,466 |  | 12,364,081
| 1) |  | Revenue from fluff pulp represents (around 0.6% of total net sales) and, therefore, was included in market pulp sales.
| 2) |  | Tissue is a recently launched product and its revenues represent less than 2.6% of total net sales. Therefore, it was included in the sales of printing and writing paper.
28.4 Goodwill based on expected future profitability The goodwill based on expected future profitability arising from the business combination were allocated to the disclosable segments, which correspond to the Company's cash-generating units (“CGU”), considering the economic benefits generated by such intangible assets. The allocation of intangibles is set forth below:
|  | June 30, |  | December 31,
|  | 2020 |  | 2019
Pulp |  | 7,942,486 |  | 7,942,486
Consumer goods |  | 119,332 |  | 119,332
|  | 8,061,818 |  | 8,061,818

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