Company: SUZ
Filing Date: 2025-09-02
Form Type: 6-K
Source: 0001104659-25-086003
Chunk: 4

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 6-K
Chunk 4
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,454/ton in the corresponding period in 2024.

Cost of sales

Our total cost of sales increased 39%, to R$ 16,337.3 million in the six months ended June 30, 2025, from R$11,793.1 million in the
corresponding period in 2024, related to (i) higher depreciation, amortization, and depletion (due to the new plant in Ribas do Rio Pardo);
(ii) increased sales volume; (iii) 13% appreciation of the average U.S. dollar against the average Brazilian real on imported inputs;
(iv) higher logistics costs due to the increase in sales volume due to the new plant in Ribas do Rio Pardo and exchange rate impact on
freight costs; and (v) more scheduled maintenance downtime.

Gross profit

For the reasons outlined above, our gross profitdecreased 7%, to R$8,511.5 million in the six months ended June 30, 2025 from R$9,159.6
million in the corresponding period in 2024. Our gross margin in the six months ended June 30, 2025 was 34% compared to 44% in the corresponding
period in 2024.

Selling, general and administrative expenses

Our selling expensesincreased 18%, to R$1,593.1 million in the six months ended June 30, 2025 from R$1,353.5 million in the corresponding
period in 2024. This result is mainly due to (i) new operations of Suzano Packaging in the United States; (ii) increased sales volume;
(iii) 13% appreciation of the average U.S. dollar against the average Brazilian real; and (iv) higher labor costs.

Our general and administrative expensesincreased 25%, to R$1,321.0 million in the six months ended June 30, 2025 from R$1,060.7 million
in the corresponding period in 2024. The variation is mainly due to increase in personnel and labor expenses.

Income (loss) from associates and joint ventures

Our loss from associates and joint venturesincreased to R$189.1 million in the six months ended June 30, 2025 from R$3.5 million in
the corresponding period in 2024. The increase is mainly due to the write-offs of goodwill in our associate Spinnova Plc in the