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INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2022

INVESTMENTS

Schedule of investments by type


		December 31,		December 31,
		2022		2021
Investments in associates and joint ventures		354,200		263,965
Goodwill		233,399		231,743
Other investments evaluated at fair value through other comprehensive income - Celluforce		24,917		28,358
		612,516		524,066

Schedule of investments in associates and joint ventures

Information of joint ventures as of

Company Participation

December 31,

2022

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

(%)

2022

2021

2022

2021

Associate

Ensyn Corporation

4,701

(3,898)

26.59

%

1,250

4,222

(1,036)

(6,332)

Spinnova Plc ⁽¹⁾

594,214

19.03

%

113,079

125,653

2,871

(17,613)

114,329

129,875

1,835

(23,945)

Joint ventures Domestic (Brazil)

Ibema Companhia Brasileira de Papel

318,630

97,978

49.90

%

158,996

117,439

48,891

44,026

Foreign

F&E Technologies LLC

10,461

50.00

%

5,230

5,594

Woodspin Oy

151,290

(4,441)

50.00

%

75,645

11,057

(2,220)

(4)

239,871

134,090

46,671

44,022

Other movements

24,917

28,358

235,862

110,239

24,917

28,358

235,862

110,239

379,117

292,323

284,368

130,316

1)	The average share price quoted on the Nasdaq First North Growth Market (NFNGM) is EUR5.44 (five Euros and forty four cents) in December 31, 2022.