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COMPANY'S OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2023

COMPANY'S OPERATIONS

Summary of equity interest in the entities

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	% equity interest			​
​	​	​	​	​	​	June 30,	​	December 31,	​
Entity/Type of investment		Main activity		Country		2023		2022	​
Consolidated	​	​	​	​	​	​	​	​	​
F&E Tecnologia do Brasil S.A. (Direct)	​	Biofuel production, except alcohol	​	Brazil	​	100.00	%	100.00	%
Fibria Celulose (USA) Inc. (Direct)	​	Business office	​	United States of America	​	100.00	%	100.00	%
Fibria Overseas Finance Ltd. (Direct)	​	Financial fundraising	​	Cayman Island	​	100.00	%	100.00	%
Fibria Terminal de Celulose de Santos SPE S.A. (Direct)	​	Port operations	​	Brazil	​	100.00	%	100.00	%
FuturaGene Ltd.	​	Biotechnology research and development	​	England	​	100.00	%	100.00	%
FuturaGene Delaware Inc. (Indirect)	​	Biotechnology research and development	​	United States of America	​	100.00	%	100.00	%
FuturaGene Israel Ltd. (Indirect)	​	Biotechnology research and development	​	Israel	​	100.00	%	100.00	%
FuturaGene Inc. (Indirect)	​	Biotechnology research and development	​	United States of America	​	100.00	%	100.00	%
Maxcel Empreendimentos e Participações S.A. (Direct)	​	Holding	​	Brazil	​	100.00	%	100.00	%
Itacel - Terminal de Celulose de Itaqui S.A. (Indirect)	​	Port operations	​	Brazil	​	100.00	%	100.00	%
MMC Brasil Indústria e Comércio Ltda (Direct)(1)	​	Industrialization and commercialization of wipes, cleaning and sanitary products.	​	Brazil	​	100.00	%	​	​
Mucuri Energética S.A. (Direct)	​	Power generation and distribution	​	Brazil	​	100.00	%	100.00	%
Paineiras Logística e Transportes Ltda. (Direct)	​	Road freight transport	​	Brazil	​	100.00	%	100.00	%
Portocel - Terminal Espec. Barra do Riacho S.A. (Direct)	​	Port operations	​	Brazil	​	51.00	%	51.00	%
Projetos Especiais e Investimentos Ltda. (Direct)	​	Commercialization of equipment and parts	​	Brazil	​	100.00	%	100.00	%
SFBC Participações Ltda. (Direct)	​	Packaging production	​	Brazil	​	100.00	%	100.00	%
Stenfar S.A. Indl. Coml. Imp. Y. Exp. (Direct)	​	Commercialization of paper and computer materials	​	Argentina	​	100.00	%	100.00	%
Suzano Austria GmbH. (Direct)	​	Business office	​	Austria	​	100.00	%	100.00	%
Suzano Canada Inc. (Direct)	​	Lignin research and development	​	Canada	​	100.00	%	100.00	%
Suzano Ecuador S.A.S. (Direct) (2)	​	Commercialization of paper	​	Ecuador	​	100.00	%	​	​
Suzano Finland Oy (Direct)	​	Industrialization and commercialization of cellulose, microfiber cellulose and paper	​	Finland	​	100.00	%	100.00	%
Suzano International Finance B.V (Direct)	​	Financial fundraising	​	Netherlands	​	100.00	%	100.00	%
Suzano International Trade GmbH. (Direct)	​	Business office	​	Austria	​	100.00	%	100.00	%
Suzano Material Technology Development Ltd. (Direct)	​	Biotechnology research and development	​	China	​	100.00	%	100.00	%
Suzano Operações Industriais e Florestais S.A. (Direct)	​	Industrialization, commercialization and exporting of pulp	​	Brazil	​	100.00	%	100.00	%
Suzano Pulp and Paper America Inc. (Direct)	​	Business office	​	United States of America	​	100.00	%	100.00	%
Suzano Pulp and Paper Europe S.A. (Direct)	​	Business office	​	Switzerland	​	100.00	%	100.00	%
Suzano Shanghai Ltd. (Direct)	​	Business office	​	China	​	100.00	%	100.00	%
Suzano Shanghai Trading Ltd. (Direct) (3)	​	Business office	​	China	​	100.00	%	​	​
Suzano Singapura Pte. Ltd (Direct) (4)	​	Business office	​	Singapore	​	100.00	%	​	​
Suzano Trading International KFT(Direct)	​	Business office	​	Hungary	​	100.00	%	100.00	%
Suzano Ventures LLC (Direct)	​	Corporate venture capital	​	United States of America	​	100.00	%	100.00	%

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	% equity interest			​
​	​	​	​	​	​	June 30,	​	December 31,	​
Entity		Main activity		Country		2023		2022	​
Joint operation	​	​	​	​	​	​	​	​	​
Veracel Celulose S.A. (Direct)	​	Industrialization, commercialization and exporting of pulp	​	Brazil	​	50.00	%	50.00	%
​	​	​	​	​	​	​	​	​	​
Equity	​	​	​	​	​	​	​	​	​
Biomas Serviços Ambientais, Restauração e Carbono S.A. (Direct) (5)	​	Restoration, conservation and preservation of forests	​	Brazil	​	16.66	%	100.00	%
Ensyn Corporation (Direct) (6)	​	Biofuel research and development	​	United States of America	​	26.07	%	26.59	%
F&E Technologies LLC (Direct/Indirect)	​	Biofuel production, except alcohol	​	United States of America	​	50.00	%	50.00	%
Ibema Companhia Brasileira de Papel (Direct)	​	Industrialization and commercialization of paperboard	​	Brazil	​	49.90	%	49.90	%
Spinnova Plc (Direct)	​	Research of sustainable raw materials for the textile industry	​	Finland	​	19.03	%	19.03	%
Woodspin Oy (Direct/Indirect)	​	Development and production of cellulose-based fibers, yarns and textile filaments	​	Finland	​	50.00	%	50.00	%
​	​	​	​	​	​	​	​	​	​
Fair value through other comprehensive income	​	​	​	​	​	​	​	​	​
Celluforce Inc. (Direct)	​	Nanocrystalline pulp research and development	​	Canada	​	8.28	%	8.28	%

​

1) On June 1, 2023, the Company completed the acquisition of MMC Brasil Indústria e Comércio Ltda.(Note 1.2.3.)

2) On March 8, 2023, establishment of legal entity with full equity interest from Suzano S.A.

3) On May 19, 2023, establishment of legal entity with full equity interest from Suzano S.A.

4) On May 23, 2023, establishment of legal entity with full equity interest from Suzano S.A.

5) On February 27 and March 21, 2023, equivalent contributions were made by the six shareholders of Biomas to constitute an equity interest (Note 1.2.6).

6) On May 17, 2023, the percentage of interest was changed due to the dilution of the shares.

​

​

Summary of allocation of preliminary purchase price

​

​	​	​
Total purchase consideration (full payment on closing)		1,072,657
​	​	​
Book value of Shareholders’ Equity of MMC Brasil		587,226
​	​	​
Fair value adjustment
Inventories (1)		7,120
Property, plant and equipment (2)		105,858
Trademark and patents (3)		189,655
Net identifiable assets acquired		889,859
Goodwill (4)		182,798

​

(1) Measured considering the balance of finished products based on selling price, net of selling expenses.

(2) Measured based on the analysis of market data on comparable transactions and cost quantification, based on the estimate of replacement or replacement value of the assets.

(3) Measured based on revenue projections for products under the evaluated brands, according to the Refief from Royalties methodology.

(4)Goodwill is attributable to the workforce and expected future profitability of the acquired business. It will be deductible for tax purposes.

​

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