Suzano Reports Record First-Quarter Revenue

Suzano, the world’s largest pulp producer, announces its first quarter results for 2025 (1Q25) with record net revenue of R$11.6 billion, up 22% on the same quarter last year (1Q24). The result was driven by the exchange rates, increased pulp sales volumes from the new Ribas do Rio Pardo mill, higher paper volume and prices and the positive contribution from our paperboard mills recently acquired in the U.S.

The record revenues occurred despite a series of planned downtimes in the quarter, including production lines of the Três Lagoas Unit, Mucuri Unit, and Aracruz Unit, and the Ribas do Rio Pardo Unit’s first scheduled maintenance downtime.

Sales exceeded 3 million tonnes in the quarter, a rise of 12% compared to 1Q24, comprising 2.7 million tonnes of pulp and 390 thousand tonnes of paper, up 10% and 25%, respectively, on the same quarter last year.

Adjusted EBITDA totaled R$4.9 billion, a 7% increase over 1Q24. Operating cash generation totaled R$2.6 billion, rising 5% on 1Q24. Net profit totaled R$6.3 billion due to the accounting impact of U.S. dollar denominated debt and hedging operations translating into Brazilian Real.

Beto Abreu, CEO of Suzano, commented:

“The team has delivered another solid performance in the first three months of this year, with all of our key metrics performing as planned. While our strategic direction remains unchanged, in light of increasing global macroeconomic uncertainty, we are intensifying our focus on enhancing our competitiveness, ensuring our resilience and a positive free cash flow generation across any pulp pricing or FX scenario. This strategic discipline has also a clear focus on deleveraging throughout the year.”

Suzano’s net leverage in U.S. dollars ended the quarter at 3.0 times. During the quarter, the company allocated R$2.2 billion to discretionary interest on equity payment and allocated R$3.6 billion in capital expenditure towards the maintenance, modernization, and expansion of its asset base.

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