The third quarter of 2023 presented a scenario of falling average net pulp prices.
However, the outlook is positive thanks to growing demand in China, which has boosted the market. Even with this price reduction, consolidated adjusted EBITDA for the quarter reached R$3.7 billion, and operational cash generation reached R$1.9 billion.
Regarding financial management, the company saw its net debt in dollars increase to US$11.5 billion , due to a historic investment cycle. Leverage in dollars was 2.7x, mainly due to the drop in Adjusted EBITDA in the last 12 months.
Suzano also continues to advance in its strategic projects,
such as the Cerrado Project, which is expected to begin operations by June 2024. Furthermore, the construction of a new biomass boiler was announced, as well as investments in fluff cellulose and a sanitary paper factory, expanding its operations in the food chain. value.
However, the quarter was not without challenges, as the company recorded a loss of R$729 million, in contrast to previous profits. The negative impact of exchange rate devaluation on debt and derivative operations was the main reason for this result. Comparing with the same period of the previous year, the drop in operating results and the negative variation in financial results also contributed to the loss , although they were partially offset by deferred IR/CSLL credits.