UNAUDITED Condensed Consolidated Interim Financial information as of

September 30, 2022

Suzano S.A.

Index

CONSOLIDATED BALANCE SHEET ......................................................................................................................

1

CONSOLIDATED STATEMENTS OF INCOME (LOSS) .........................................................................................

3

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) .........................................................

4

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ................................................................................

5

CONSOLIDATED STATEMENTS OF CASH FLOWS .............................................................................................

6

1. COMPANY´S OPERATIONS ..........................................................................................................................

7

2. BASIS OF PREPARATION AND PRESENTATION OF UNAUDITED CONDENSED CONSOLIDATED

INTERIM FINANCIAL INFORMATION ..........................................................................................................

12

3.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ............................................................................

13

4.

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT ..........................................................................

18

5.

CASH AND CASH EQUIVALENTS ...............................................................................................................

30

6.

MARKETABLE SECURITIES........................................................................................................................

30

7.

TRADE ACCOUNTS RECEIVABLE..............................................................................................................

31

8.

INVENTORIES ..............................................................................................................................................

32

9.

RECOVERABLE TAXES...............................................................................................................................

33

10.

ADVANCES TO SUPPLIERS........................................................................................................................

34

11.

RELATED PARTIES......................................................................................................................................

34

12.

INCOME AND SOCIAL CONTRIBUTION TAXES ........................................................................................

36

13.

BIOLOGICAL ASSETS..................................................................................................................................

39

14.

INVESTMENTS .............................................................................................................................................

41

15.

PROPERTY, PLANT AND EQUIPMENT ......................................................................................................

42

16.

INTANGIBLE .................................................................................................................................................

43

17.

TRADE ACCOUNTS PAYABLE ....................................................................................................................

43

18.

LOANS, FINANCING AND DEBENTURES...................................................................................................

44

19.

LEASE...........................................................................................................................................................

48

20.

PROVISION FOR JUDICIAL LIABILITIES ....................................................................................................

49

21.

EMPLOYEE BENEFIT PLANS......................................................................................................................

51

22.

SHARE-BASED COMPENSATION PLAN ....................................................................................................

52

23.

LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES ................................................................

53

24.

SHAREHOLDERS' EQUITY..........................................................................................................................

53

25.

EARNINGS (LOSS) PER SHARE .................................................................................................................

55

26.

NET FINANCIAL RESULT ............................................................................................................................

55

27.

NET SALES...................................................................................................................................................

56

28.

SEGMENT INFORMATION...........................................................................................................................

56

29.

INCOME (EXPENSES) BY NATURE ............................................................................................................

58

30.

SUBSEQUENT EVENT.................................................................................................................................

58

REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION .......................................................................

60

OPINION OF THE EXECUTIVE BOARD ON THE UNAUDITED CONDENSED CONSOLIDATED INTERIM

FINANCIAL INFORMATION AND INDEPENDENT AUDITOR'S REPORT ..................................................

61

EARNINGS RELEASE...........................................................................................................................................

62

Suzano S.A.

Unaudited condensed consolidated interim financial information

Nine-month period ended September 30, 2022

(In thousands of R$, unless otherwise stated)

CONSOLIDATED BALANCE SHEET

September 30,

December 31,

ASSETS

Note

2022

2021

CURRENT

Cash and cash equivalents

5

6,958,161

13,590,776

Marketable securities

6

10,907,907

7,508,275

Trade accounts receivable

7

8,664,852

6,531,465

Inventories

8

5,942,174

4,637,485

Recoverable taxes

9

502,163

360,725

Derivative financial instruments

4.5

2,308,110

470,261

Advances to suppliers

10

58,771

59,564

Dividends receivable

11

6,604

Other assets

876,603

937,786

Total current assets

36,218,741

34,102,941

NON-CURRENT

Marketable securities

6

405,956

250,054

Recoverable taxes

9

1,401,316

1,269,164

Deferred taxes

12

5,637,742

8,729,929

Derivative financial instruments

4.5

1,680,712

971,879

Advances to suppliers

10

1,487,207

1,282,763

Judicial deposits

364,093

300,715

Other assets

279,075

296,844

Biological assets

13

13,066,433

12,248,732

Investments

14

558,111

524,066

Property, plant and equipment

15

47,012,355

38,169,703

Right of use

19.1

5,105,422

4,794,023

Intangible

16

15,397,201

16,034,339

Total non-current

92,395,623

84,872,211

TOTAL ASSETS

128,614,364

118,975,152

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

1

Suzano S.A.

Unaudited condensed consolidated interim financial information

Nine-month period ended September 30, 2022

(In thousands of R$, unless otherwise stated)

CONSOLIDATED BALANCE SHEET

September 30,

December 31,

LIABILITIES

Note

2022

2021

CURRENT

Trade accounts payable

17

5,272,119

3,288,897

Loans, financing and debentures

18.1

2,850,556

3,655,537

Lease liabilities

19.2

654,133

623,282

Derivative financial instruments

4.5

750,396

1,563,459

Taxes payable

420,897

339,553

Payroll and charges

647,541

590,529

Liabilities for assets acquisitions and associates

23

1,919,150

99,040

Dividends payable

11

1,923

919,073

Advances from customers

112,915

103,656

Other liabilities

273,990

368,198

Total current liabilities

12,903,620

11,551,224

NON-CURRENT

Loans, financing and debentures

18.1

73,209,230

75,973,092

Lease liabilities

19.2

5,595,755

5,269,912

Derivative financial instruments

4.5

4,206,646

6,331,069

Liabilities for assets acquisitions and associates

23

210,510

306,912

Provision for judicial liabilities

20.1

3,317,720

3,232,612

Employee benefit plans

21.2

676,699

675,158

Deferred taxes

12

1,118

Share-based compensation plans

22.3

149,700

166,998

Advances from customers

136,161

149,540

Other liabilities

149,004

143,505

Total non-current liabilities

87,652,543

92,248,798

TOTAL LIABILITIES

100,556,163

103,800,022

EQUITY

24

Share capital

9,235,546

9,235,546

Capital reserves

17,091

15,455

Treasury shares

(2,120,324)

(218,265)

Retained earnings

3,040,935

3,927,824

Other reserves

1,766,711

2,114,907

Retained earnings

16,011,694

Controlling shareholders´

27,951,653

15,075,467

Non-controlling interest

106,548

99,663

Total equity

28,058,201

15,175,130

TOTAL LIABILITIES AND EQUITY

128,614,364

118,975,152

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

2

Suzano S.A.

Unaudited condensed consolidated interim financial information

Nine-month period ended September 30, 2022

(In thousands of R$, unless otherwise stated)

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

Third quarter

9 months YTD

July 1 to

July 1 to

September

September 30,

September 30,

September 30,

30,

Note

2022

2021

2022

2021

NET SALES

27

14,198,749

10,761,855

35,461,239

29,495,460

Cost of sales

29

(6,472,670)

(5,299,911)

(18,028,435)

(14,922,600)

GROSS PROFIT

7,726,079

5,461,944

17,432,804

14,572,860

OPERATING INCOME (EXPENSES)

Selling

29

(625,114)

(578,101)

(1,822,822)

(1,656,801)

General and administrative

29

(392,663)

(319,590)

(1,093,895)

(1,055,148)

Income (expense) from associates and joint

257,638

266,945

ventures

14

29,459

119,823

Other, net

29

(18,562)

18,830

140,864

1,445,226

OPERATING PROFIT BEFORE NET FINANCIAL

6,947,378

14,923,896

INCOME (EXPENSES)

4,612,542

13,425,960

NET FINANCIAL INCOME (EXPENSES)

26

Financial expenses

(1,216,422)

(1,212,759)

(3,399,945)

(3,135,851)

Financial income

269,505

54,444

622,072

124,934

Derivative financial instruments

889,628

(2,529,280)

5,510,514

(1,290,407)

Monetary and exchange variations, net

(1,470,487)

(4,077,782)

1,700,202

(2,388,590)

NET INCOME (LOSS) BEFORE TAXES

5,419,602

(3,152,835)

19,356,739

6,736,046

Income and social contribution taxes

Current

12

(204,037)

(87,860)

(326,674)

(243,523)

Deferred

12

232,533

2,281,320

(3,094,068)

(170,458)

NET INCOME (LOSS) FOR THE PERIOD

5,448,098

(959,375)

15,935,997

6,322,065

Attributable to

Controlling shareholders'

5,444,887

(961,974)

15,925,229

6,315,893

Non-controlling interest

3,211

2,599

10,768

6,172

Earnings (loss) per share

Basic

25.1

4.13200

(0.71298)

11.90890

4.68114

Diluted

25.2

4.13132

(0.71286)

11.90699

4.68032

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

3

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Suzano SA published this content on 27 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2022 21:20:32 UTC.