SAO PAULO, Aug 8 (Reuters) - Brazilian pulpmaker Suzano on Thursday reported a wider than expected net loss of 3.77 billion reais ($679.18 million) in the second quarter, compared with a profit of 5.08 billion reais a year earlier, driven by weaker results in its financial expenses line.

Analysts polled by LSEG estimated a loss of 2.83 billion reais for the quarter ended in June.

WHY IT'S IMPORTANT

Suzano is the world's largest pulpmaker. It is looking to expand its paper footprint internationally, even after its efforts to buy U.S.-based International Paper failed earlier this year.

BY THE NUMBERS

Suzano's net revenue grew 25% in the second quarter year-on-year to 11.5 billion reais, with pulp sales, its main business, rising 1%. Paper sales were up 13%.

The pulpmaker's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 60% to 6.29 billion reais.

However, Suzano reported 11 billion reais in net financial expenses, compared with net financial revenue of 4.5 billion reais a year earlier, hit by FX effects and derivatives operations.

KEY QUOTES

"Pulp market registered another favorable performance during the second quarter of 2024, which reflected in another round of price increase implementations and in sales growth, despite a challenging scenario that emerged in China," Suzano said. ($1 = 5.5508 reais) (Reporting by Andre Romani and Luana Maria Benedito in Sao Paulo Editing by Chris Reese and Matthew Lewis)