SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of operating segments [abstract]


	December 31, 2023
	Pulp		Paper		Total

Net sales	30,677,265		9,078,310		39,755,575
Domestic market (Brazil)	2,144,199		6,719,093		8,863,292
Foreign markets	28,533,066		2,359,217		30,892,283
Asia	13,588,032		72,133		13,660,165
Europe	8,701,141		302,131		9,003,272
North America	5,682,010		476,429		6,158,439
South and Central America	558,601		1,437,181		1,995,782
Africa	3,282		71,343		74,625
EBITDA	16,052,028		3,485,370		19,537,398
Depreciation, depletion and amortization					(7,321,110)
Operating profit before net financial income (“EBIT”) (1)					12,216,288
EBITDA margin (%)	52.33	%	38.39	%	49.14	%

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


	December 31, 2022
	Pulp		Paper		Total

Net sales	41,384,322		8,446,624		49,830,946
Domestic market (Brazil)	2,665,746		5,858,892		8,524,638
Foreign markets	38,718,576		2,587,732		41,306,308
Asia	18,294,046		4,059		18,298,105
Europe	12,768,321		325,503		13,093,824
North America	7,055,625		608,734		7,664,359
South and Central America	592,360		1,641,277		2,233,637
Africa	8,224		8,159		16,383
EBITDA	26,098,309		3,532,362		29,630,671
Depreciation, depletion and amortization					(7,407,890)
Operating profit before net financial income (“EBIT”) (1)					22,222,781
EBITDA margin (%)	63.06	%	41.82	%	59.46	%

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


	December 31, 2021
	Pulp		Paper		Total

Net sales	34,715,208		6,250,223		40,965,431
Domestic market (Brazil)	2,338,810		4,380,585		6,719,395
Foreign markets	32,376,398		1,869,638		34,246,036
Asia	15,952,786		43,961		15,996,747
Europe	10,477,292		318,666		10,795,958
North America	5,694,273		424,909		6,119,182
South and Central America	233,061		1,026,247		1,259,308
Africa	18,986		55,855		74,841
EBITDA	22,735,409		2,486,445		25,221,854
Depreciation, depletion and amortization					(7,041,663)
Operating profit before net financial income (“EBIT”) (1)					18,180,191
EBITDA margin (%)	65.49	%	39.78	%	61.57	%

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

Schedule of net sales by product


Products	December 31, 2023	December 31, 2022	December 31, 2021

Market pulp (1)	30,677,265	41,384,322	34,715,208
Printing and writing paper (2)	7,567,320	6,912,984	5,107,960
Paperboard	1,417,075	1,421,338	1,091,588
Other	93,915	112,302	50,675
	39,755,575	49,830,946	40,965,431

(1)Net sales of fluff pulp represent approximately 0.78% of total net sales, and therefore were included in market pulp net sales. (0.80% as of December 31, 2022).

(2)Net sales of tissue represent approximately 5.14% of total net sales, and therefore were included in printing and writing paper net sales. (2.3% as of December 31, 2022).

Goodwill based on expected future profitability


	December 31, 2023	December 31, 2022

Pulp	7,897,051	7,897,051
Paper	290,191	119,332
	8,187,242	8,016,383