Company: SUZ
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001628280-25-020368
Chunk: 117

Company: Suzano S.A.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 117
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 and Financial Review and Prospects - Pulp Segment”.

Our paper net sales increased 8.1%, to R$9,809.8 million in 2024 from R$9,078.3 million in 2023. Net sales from paper represented 20.7% of total net sales in 2024, compared to 22.8% in 2023. The increase in net sales from paper in 2024 compared to the corresponding period in 2023 is mainly due to higher volume. Net revenues from paper exports represented 5.3% of total net revenues in 2024. Our net sales from paper in the domestic market increased 8.3%, or R$559.5 million, to R$7,278.6 million in 2024 from R$6,719.1 million in 2023, impacted by increases in sales volume.

Our average international realized paper price decreased 15.0%, to US$1,086/ton (R$5.853/ton) in 2024 from US$1,284/ton (R$6.415/ton) in 2023. In the domestic market, the average net paper sales price decreased 0.3%, or R$21/ton, to R$7,254.3/ton in 2024 from R$7,275.5/ton in 2023.

Cost of sales

Our total cost of sales increased 9.3%, to R$27,401.5 million in 2024 from R$25,076.7 million in 2023, driven by higher volume, fixed costs, depreciation, amortization and depletion costs, following the ramp-up of our new mill in Ribas do Rio Pardo (Cerrado Project), which was partially offset by lower cost of goods sold (COGS) due to lower costs of wood and commodities (mainly brent and soda).

Gross profit

Our gross profit increased 36.3%, to R$20,001.8 million in 2024 from R$14,678.9 million in 2023, due to the factors mentioned above. Our gross margin in 2024 was 42.2% compared to 36.9% in 2023, mainly due to the increase in pulp sales price and volume, as described above.

Selling, general and administrative expenses

Our selling expenses increased 13.2%, to R$2,938.