SUZANO S.A. Suzano S.A.
Unaudited Condensed Consolidated Interim Financial Information as of June 30, 2021
Suzano S.A.
Index | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) ......................................................... | 6 |
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ................................................................................ | 7 |
CONSOLIDATED STATEMENTS OF CASH FLOWS ............................................................................................. | 8 |
1. COMPANY´S OPERATIONS .......................................................................................................................... | 9 |
2. BASIS OF PREPARATION AND PRESENTATION OF UNAUDITED CONDENSED CONSOLIDATED
INTERIM FINANCIAL INFORMATION .......................................................................................................... | 16 | |
3. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ............................................................................ | 17 |
4. | FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT .......................................................................... | 18 |
5. | CASH AND CASH EQUIVALENTS ............................................................................................................... | 31 |
6. | MARKETABLE SECURITIES........................................................................................................................ | 31 |
7. | TRADE ACCOUNTS RECEIVABLE.............................................................................................................. | 32 |
8. | INVENTORIES .............................................................................................................................................. | 33 |
9. | RECOVERABLE TAXES............................................................................................................................... | 34 |
10. | ADVANCE TO SUPPLIERS .......................................................................................................................... | 35 |
11. | RELATED PARTIES...................................................................................................................................... | 35 |
12. | INCOME AND SOCIAL CONTRIBUTION TAXES ........................................................................................ | 37 |
13. | BIOLOGICAL ASSETS.................................................................................................................................. | 40 |
14. | INVESTMENTS ............................................................................................................................................. | 42 |
15. | PROPERTY, PLANT AND EQUIPMENT ...................................................................................................... | 43 |
16. | INTANGIBLE ................................................................................................................................................. | 44 |
17. | TRADE ACCOUNTS PAYABLE .................................................................................................................... | 44 |
18. | LOANS, FINANCING AND DEBENTURES................................................................................................... | 45 |
19. | LEASE........................................................................................................................................................... | 49 |
20. | PROVISION FOR JUDICIAL LIABILITIES .................................................................................................... | 50 |
21. | EMPLOYEE BENEFIT PLANS...................................................................................................................... | 54 |
22. | SHARE-BASED COMPENSATION PLAN .................................................................................................... | 54 |
23. | LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES ................................................................ | 55 |
24. | SHAREHOLDERS' EQUITY.......................................................................................................................... | 56 |
25. | EARNINGS (LOSS) PER SHARE ................................................................................................................. | 56 |
26. | NET FINANCIAL RESULT ............................................................................................................................ | 57 |
27. | NET SALES................................................................................................................................................... | 58 |
28. | SEGMENT INFORMATION........................................................................................................................... | 58 |
29. | RESULTS BY NATURE ................................................................................................................................ | 60 |
30. | SUBSEQUENT EVENTS .............................................................................................................................. | 61 |
REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION ....................................................................... | 63 | |
OPINION OF THE EXECUTIVE BOARD ON THE UNAUDITED CONDENSED CONSOLIDATED INTERIM | ||
FINANCIAL INFORMATION AND INDEPENDENT AUDITOR'S REPORT .................................................. | 64 | |
EARNINGS RELEASE........................................................................................................................................... | 65 |
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Suzano S.A.
Unaudited condensed consolidated interim financial information
Six-month period ended June 30, 2021
(In thousands of R$, unless otherwise stated)
CONSOLIDATED BALANCE SHEET
June 30, | December 31, | ||||
ASSETS | Note | 2021 | 2020 | ||
CURRENT | |||||
Cash and cash equivalents | 5 | 8,585,570 | 6,835,057 | ||
Marketable securities | 6 | 2,448,267 | 2,212,079 | ||
Trade accounts receivable | 7 | 3,979,086 | 2,915,206 | ||
Inventories | 8 | 4,404,865 | 4,009,335 | ||
Recoverable taxes | 9 | 382,415 | 406,850 | ||
Derivative financial instruments | 4.5 | 1,204,841 | 484,043 | ||
Advances to suppliers | 10 | 35,821 | 43,162 | ||
Other assets | 758,427 | 738,924 | |||
21,799,292 | 17,644,656 | ||||
Assets held for sale | 1.2.2 | 313,338 | |||
Total current assets | 21,799,292 | 17,957,994 | |||
NON-CURRENT | |||||
Marketable securities | 6 | 237,345 | 184,778 | ||
Recoverable taxes | 9 | 1,156,151 | 834,575 | ||
Deferred taxes | 12 | 6,224,616 | 8,677,002 | ||
Derivative financial instruments | 4.5 | 764,156 | 857,377 | ||
Advances to suppliers | 10 | 1,249,628 | 1,015,115 | ||
Judicial deposits | 298,049 | 257,789 | |||
Other assets | 222,695 | 235,341 | |||
Biological assets | 13 | 11,720,857 | 11,161,210 | ||
Investments | 14 | 497,083 | 359,071 | ||
Property, plant and equipment | 15 | 38,190,785 | 39,156,890 | ||
Right of use | 19.1 | 4,571,713 | 4,344,078 | ||
Intangible | 16 | 16,375,218 | 16,759,528 | ||
Total non-current | 81,508,296 | 83,842,754 | |||
TOTAL ASSETS | 103,307,588 | 101,800,748 |
The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.
3
Suzano S.A.
Unaudited condensed consolidated interim financial information
Six-month period ended June 30, 2021
(In thousands of R$, unless otherwise stated)
CONSOLIDATED BALANCE SHEET
June 30, | December 31, | ||||
LIABILITIES | Note | 2021 | 2020 | ||
CURRENT | |||||
Trade accounts payable | 17 | 2,575,168 | 2,361,098 | ||
Loans, financing and debentures | 18.1 | 1,920,072 | 2,043,386 | ||
Lease liabilities | 19.2 | 593,691 | 620,177 | ||
Derivative financial instruments | 4.5 | 1,010,897 | 1,991,118 | ||
Taxes payable | 233,277 | 170,482 | |||
Payroll and charges | 444,938 | 492,728 | |||
Liabilities for assets acquisitions and associates | 23 | 112,446 | 101,515 | ||
Dividends payable | 11,185 | 6,232 | |||
Advance from customers | 115,260 | 25,171 | |||
Other liabilities | 361,197 | 360,916 | |||
Total current liabilities | 7,378,131 | 8,172,823 | |||
NON-CURRENT | |||||
Loans, financing and debentures | 18.1 | 66,556,926 | 70,856,496 | ||
Lease liabilities | 19.2 | 4,773,303 | 4,571,583 | ||
Derivative financial instruments | 4.5 | 5,060,920 | 6,126,282 | ||
Liabilities for assets acquisitions and associates | 23 | 396,923 | 400,713 | ||
Provision for judicial liabilities | 20.1 | 3,271,679 | 3,255,955 | ||
Employee benefit plans | 21.2 | 792,387 | 785,045 | ||
Deferred taxes | 12 | 570 | |||
Share-based compensation plans | 22.3 | 212,500 | 195,135 | ||
Advance from customers | 165,439 | ||||
Other liabilities | 111,888 | 98,768 | |||
Total non-current liabilities | 81,341,965 | 86,290,547 | |||
TOTAL LIABILITIES | 88,720,096 | 94,463,370 | |||
EQUITY | 24 | ||||
Share capital | 9,235,546 | 9,235,546 | |||
Capital reserves | 13,033 | 10,612 | |||
Treasury shares | (218,265) | (218,265) | |||
Other reserves | 2,028,382 | 2,129,944 | |||
Retained earnings (accumulated deficit) | 3,429,696 | (3,926,015) | |||
Controlling shareholders´ | 14,488,392 | 7,231,822 | |||
Non-controlling interest | 99,100 | 105,556 | |||
Total equity | 14,587,492 | 7,337,378 | |||
TOTAL LIABILITIES AND EQUITY | 103,307,588 | 101,800,748 |
The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.
4
Suzano S.A.
Unaudited condensed consolidated interim financial information
Six-month period ended June 30, 2021
(In thousands of R$, unless otherwise stated)
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
Second quarter | Semester ended | |||||||||
April 1 to | April 1 to | June 30, | June 30, | |||||||
Note | June 30, 2021 | June 30, 2020 | 2021 | 2020 | ||||||
NET SALES | 27 | 9,844,439 | 7,995,673 | 18,733,605 | 14,976,466 | |||||
Cost of sales | 29 | (4,777,655) | (4,788,694) | (9,622,689) | (9,608,693) | |||||
GROSS PROFIT | 5,066,784 | 3,206,979 | 9,110,916 | 5,367,773 | ||||||
OPERATING INCOME (EXPENSES) | ||||||||||
Selling | 29 | (496,934) | (547,098) | (1,078,700) | (1,062,034) | |||||
General and administrative | 29 | (353,004) | (335,715) | (735,558) | (650,551) | |||||
Income (loss) from associates and joint | ||||||||||
ventures | 14 | 80,098 | (3,663) | 90,364 | (2,952) | |||||
Other, net | 29 | 909,543 | 195,671 | 1,426,396 | 212,402 | |||||
OPERATING PROFIT BEFORE NET FINANCIAL | ||||||||||
INCOME (EXPENSES) | 5,206,487 | 2,516,174 | 8,813,418 | 3,864,638 | ||||||
NET FINANCIAL INCOME (EXPENSES) | 26 | |||||||||
Financial expenses | (932,159) | (1,033,126) | (1,923,092) | (2,119,550) | ||||||
Financial income | 46,263 | 82,419 | 70,490 | 203,173 | ||||||
Derivative financial instruments | 3,732,823 | (1,776,322) | 1,238,873 | (10,835,114) | ||||||
Monetary and exchange variations, net | 6,895,657 | (2,930,209) | 1,689,192 | (15,349,795) | ||||||
NET INCOME (LOSS) BEFORE TAXES | 14,949,071 | (3,141,064) | 9,888,881 | (24,236,648) | ||||||
Income and social contribution taxes | ||||||||||
Current | 12 | (91,514) | (3,469) | (155,663) | (57,829) | |||||
Deferred | 12 | (4,820,858) | 1,092,015 | (2,451,778) | 8,822,898 | |||||
NET INCOME (LOSS) FOR THE PERIOD | 10,036,699 | (2,052,518) | 7,281,440 | (15,471,579) | ||||||
Attributable to | ||||||||||
Controlling shareholders' | 10,035,111 | (2,057,101) | 7,277,867 | (15,479,631) | ||||||
Non-controlling interest | 1,588 | 4,583 | 3,573 | 8,052 | ||||||
Earnings (Loss) per share | ||||||||||
Basic | 25.1 | 7.43770 | (1.52466) | 5.39412 | (11.47301) | |||||
Diluted | 25.2 | 7.43640 | (1.52466) | 5.39318 | (11.47301) |
The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.
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Suzano SA published this content on 11 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2021 21:19:19 UTC.
