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INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2021

INVESTMENTS

Schedule of investments by type


		December 31,		December 31,
		2021		2020
Investments in associates and joint ventures		263,965		96,373
Goodwill ⁽¹⁾		231,743		236,360
Other investments evaluated at fair value through other comprehensive income - Celluforce		28,358		26,338
		524,066		359,071

1)The movement is due to the events disclosed in Note 1.2.5.

Schedule of investments in associates and joint ventures

Information of joint ventures as of

Company Participation

December 31,

2021

Carrying amount

In the income (expenses) of the year

Income

Participation

(expenses)

equity

December 31,

December 31,

December 31,

December 31,

Equity

of the year

(%)

2021

2020

2021

2020

Associate

Ensyn Corporation

16,089

(24,131)

26.24

%

4,222

5,472

(6,332)

(7,629)

Spinnova Plc ⁽¹⁾

656,496

(92,023)

19.14

%

125,653

15,387

(17,613)

(5,903)

129,875

20,859

(23,945)

(13,532)

Joint ventures Domestic (Brazil)

Ibema Companhia Brasileira de Papel

235,349

88,228

49.90

%

117,439

70,305

44,026

49,674

Foreign

F&E Technologies LLC

11,188

50.00

%

5,594

5,209

Woodspin Oy

22,115

(9)

50.00

%

11,057

(4)

134,090

75,514

44,022

49,674

Other movements

110,239

110,239

263,965

96,373

130,316

36,142

1)Increase in Spinnova’s investment refers to the effects of this investee’s IPO (Note 1.2.5).