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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2023

SEGMENT INFORMATION

Schedule of operating segments


		June 30, 2023
		Pulp		Paper		Total
Net sales		16,302,347		4,133,670		20,436,017
Domestic market (Brazil)		1,249,493		2,971,910		4,221,403
Foreign markets		15,052,854		1,161,760		16,214,614
EBITDA		9,155,697		1,812,784		10,968,481
Depreciation, depletion and amortization						(3,593,516)
Operating profit before net financial income (“EBIT”) ⁽¹⁾						7,374,965
EBITDA margin (%)		56.16%		43.85%		53.67%

1)	(“Earnings before interest and tax”).


		June 30, 2022
		Pulp		Paper		Total
Net sales		17,496,421		3,766,069		21,262,490
Domestic market (Brazil)		1,246,965		2,589,671		3,836,636
Foreign market		16,249,456		1,176,398		17,425,854
EBITDA		10,168,584		1,402,897		11,571,481
Depreciation, depletion and amortization						(3,594,963)
Operating profit before net financial income (“EBIT”) ⁽¹⁾						7,976,518
EBITDA margin (%)		58.12%		37.25%		54.42%

1)	(“Earnings before interest and tax”).

Schedule of net sales by product


		June 30,		June 30,
Products		2023		2022
Market pulp⁽¹⁾		16,302,347		17,496,421
Printing and writing paper⁽²⁾		3,384,698		3,089,666
Paperboard		708,576		644,809
Other		40,396		31,594
		20,436,017		21,262,490

1)	Net sales of fluff pulp represent approximately 0.8% of total net sales, and therefore were included in market pulp net sales. (0.8% as at June 30, 2022).

2)	Net sales of tissue represent approximately 3.1% of total net sales, and therefore were included in printing and writing paper net sales. (2.5% as at June 30, 2022).

Goodwill based on expected future profitability

The goodwill based on expected future profitability arising from the business combination was allocated to the disclosable segments, which correspond to the Company’s cash-generating units (“CGUs”), considering the economic benefits generated by such intangible assets. The allocation of goodwill is set out below:


		June 30,		December 31,
		2023		2022
Pulp		7,897,051		7,897,051
Paper ⁽¹⁾		302,130		119,332
		8,199,181		8,016,383

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