Company: SUZ
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001628280-25-020368
Chunk: 114

Company: Suzano S.A.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 114
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2024 (an increase of 23% compared to 2023). The share of pulp sales from exports was 94%, while the domestic market accounted for 6%. Concerning distribution for end use, the sanitary paper segment accounted for 61% of total sales in 2024, followed by Specialty Papers with 15% and Printing & Writing with 15%, packaging with 6% and others with 3%. APAC accounted for 41% of the net sales, followed by EMEA with 33%, North and South American countries (including Brazil) with 26%.

Our average pulp net price in USD sold by Suzano in 2024 was US$642/t, 7% higher than in 2023. In the export market, our average net price was US$644/t, up 7% from 2023.

Paper Segment

According to IBÁ, domestic sales of printing and writing paper and paperboard decreased by 5% in 2024 compared to 2023, while imports increased by 13%.

Our domestic sales increased by 9% compared to 2023, as demand for printing & writing papers grew, influenced by the election cycle and resilient demand for uncoated paper, in comparison with the low sales volume of last year, when overstocked inventories hampered demand. Regarding paperboard, sales increased 6% compared to 2023 pushed by the good performance of the Brazilian economy and families’ consumption. On the tissue side, we experienced an upside as a result of the acquisition of Kimberly Clark's tissue business in Brazil, impacting 12 months on 2024. Overall, paper sales increased 11% to 1.44 million tons in 2024, compared to 1.29 million tons in 2023.

In 2024, our net revenue from paper sales totaled R$9,810 million, an 8% increase from 2023. Net revenue from domestic sales increased 8%, and sales outside Brazil increased 7%, with 74.0% coming from domestic sales and 26.0% from foreign markets The geographic breakdown of our total revenue from paper sales in 2024 was 86.2% in Latin America (including Brazil), 9.3% in North America and 4.5% in other regions.

The average net paper price in 2024 was R$6,832/ton, 3% lower than in 2023. In the domestic market, the average net