Company: SUZ
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001628280-25-020368
Chunk: 118

Company: Suzano S.A.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 5
Chunk 118
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5 million in 2024 from R$2,596.4 million in 2023. This increase is mainly due to higher sales volume and the acquisition of Kimberly Clark's tissue business in Brazil in the second half of 2023, which had an impact in the full year of 2024.

Our general and administrative expenses increased 36.2%, to R$2,619.8 million in 2024 from R$1,923.2 million in 2023. The variation is due to an increase in personnel expenses.

Income/(expense) from associates and joint ventures

Our expense from associates and joint ventures decreased 28.6%, to an expense of R$13.8 million in 2024 from an expense of R$19.4 million in 2023. The decrease is mainly due to increases in income of R$2.0 million from Ibema Companhia Brasileira de Papel, and a reduce of expenses of (i) R$5.5 million from Ensyn Corporation, (ii) R$0.4 million from Spinnova Plc, and (iii) R$0.3 million from Woodspin Oy, partially offset by a R$2.7 million reduction in income from Biomas - Serviços Ambientais, Restauração e Carbono Ltda.

Table of Co ntents

Other operating (expenses) income, net

Our other operating income (expenses) decreased 39.2%, to R$1,261.6 million in 2024 from R$2,076.4 million in 2023. The negative variation refers mainly to the smaller adjustment resulting from the update of the fair value of biological assets, which occurs in the second and fourth quarters of each year. Also, 2023 was impacted by a positive variation in the item “ Depreciation, amortization and other PPA realizations”, partially offset especially by the lower results in the sale and write-off of assets.

Operating profit before net financial income

Our operating profit before net financial income increased 28.4%, to a profit of R$15,691.1 million in 2024 from a profit of R$12,216.3 million in 2023, due to the facts mentioned above. Our operating margin in 2024 was 33.1% compared to 30.7% in 2023.

Net financial income (expenses)

Our net financial income (expenses) decreased to a loss of