Suzano S.A.
Consolidated financial statements
December 31, 2021 and
Independent auditors' report
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 FINANCIAL STATEMENTS ................................... | 17 |
3. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ............................................................................ | 18 |
4. | FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT .......................................................................... | 37 |
5. | CASH AND CASH EQUIVALENTS ............................................................................................................... | 56 |
6. | MARKETABLE SECURITIES........................................................................................................................ | 56 |
7. | TRADE ACCOUNTS RECEIVABLE.............................................................................................................. | 57 |
8. | INVENTORIES .............................................................................................................................................. | 58 |
9. | RECOVERABLE TAXES............................................................................................................................... | 59 |
10. | ADVANCES TO SUPPLIERS........................................................................................................................ | 60 |
11. | RELATED PARTIES...................................................................................................................................... | 60 |
12. | INCOME AND SOCIAL CONTRIBUTION TAXES ........................................................................................ | 62 |
13. | BIOLOGICAL ASSETS.................................................................................................................................. | 65 |
14. | INVESTMENTS ............................................................................................................................................. | 67 |
15. | PROPERTY, PLANT AND EQUIPMENT ...................................................................................................... | 68 |
16. | INTANGIBLE ................................................................................................................................................. | 69 |
17. | TRADE ACCOUNTS PAYABLE .................................................................................................................... | 70 |
18. | LOANS, FINANCING AND DEBENTURES................................................................................................... | 71 |
19. | LEASE........................................................................................................................................................... | 76 |
20. | PROVISION FOR JUDICIAL LIABILITIES .................................................................................................... | 78 |
21. | EMPLOYEE BENEFIT PLANS...................................................................................................................... | 85 |
22. | SHARE-BASED COMPENSATION PLAN .................................................................................................... | 87 |
23. | LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES ................................................................ | 90 |
24. | LONG-TERM COMMITMENTS ..................................................................................................................... | 91 |
25. | SHAREHOLDERS' EQUITY.......................................................................................................................... | 91 |
26. | EARNINGS (LOSS) PER SHARE ................................................................................................................. | 94 |
27. | NET FINANCIAL RESULT ............................................................................................................................ | 95 |
28. | NET SALES................................................................................................................................................... | 95 |
29. | SEGMENT INFORMATION........................................................................................................................... | 96 |
30. | RESULTS BY NATURE ................................................................................................................................ | 98 |
31. | INSURANCE COVERAGE ............................................................................................................................ | 99 |
32. | SUBSEQUENT EVENTS .............................................................................................................................. | 99 |
INDEPENDENT AUDITOR'S REPORT ............................................................................................................... | 101 | |
OPINION OF THE FISCAL COUNCIL ................................................................................................................. | 105 | |
SUMMARIZED ANNUAL REPORT OF THE STATUTORY AUDIT COMMITTEE ("CAE") ................................. | 106 | |
STATUTORY AUDIT COMMITTEE OPINION ..................................................................................................... | 109 | |
OPINION OF THE EXECUTIVE BOARD ON THE CONSOLIDATED FINANCIAL STATEMENTS AND | ||
INDEPENDENT AUDITOR'S REPORT....................................................................................................... | 110 | |
MANAGEMENT REPORT ................................................................................................................................... | 111 | |
EARNINGS RELEASE......................................................................................................................................... | 124 |
2
Suzano S.A.
Consolidated financial statements
Year ended December 31, 2021 and 2020 (In thousands of R$, unless otherwise stated)
CONSOLIDATED BALANCE SHEET
December 31, | December 31, | ||||
ASSETS | Note | 2021 | 2020 | ||
CURRENT | |||||
Cash and cash equivalents | 5 | 13,590,776 | 6,835,057 | ||
Marketable securities | 6 | 7,508,275 | 2,212,079 | ||
Trade accounts receivable | 7 | 6,531,465 | 2,915,206 | ||
Inventories | 8 | 4,637,485 | 4,009,335 | ||
Recoverable taxes | 9 | 360,725 | 406,850 | ||
Derivative financial instruments | 4.5 | 470,261 | 484,043 | ||
Advances to suppliers | 10 | 59,564 | 43,162 | ||
Dividends receivable | 11 | 6,604 | 7,633 | ||
Other assets | 937,786 | 731,291 | |||
34,102,941 | 17,644,656 | ||||
Assets held for sale | 1.2.2 | 313,338 | |||
Total current assets | 34,102,941 | 17,957,994 | |||
NON-CURRENT | |||||
Marketable securities | 6 | 250,054 | 184,778 | ||
Recoverable taxes | 9 | 1,269,164 | 834,575 | ||
Deferred taxes | 12 | 8,729,929 | 8,677,002 | ||
Derivative financial instruments | 4.5 | 971,879 | 857,377 | ||
Advances to suppliers | 10 | 1,282,763 | 1,015,115 | ||
Judicial deposits | 300,715 | 257,789 | |||
Other assets | 296,844 | 235,341 | |||
Biological assets | 13 | 12,248,732 | 11,161,210 | ||
Investments | 14 | 524,066 | 359,071 | ||
Property, plant and equipment | 15 | 38,169,703 | 39,156,890 | ||
Right of use | 19.1 | 4,794,023 | 4,344,078 | ||
Intangible | 16 | 16,034,339 | 16,759,528 | ||
Total non-current | 84,872,211 | 83,842,754 | |||
TOTAL ASSETS | 118,975,152 | 101,800,748 |
The accompanying notes are an integral part of this consolidated financial statements.
3
Suzano S.A.
Consolidated financial statements
Year ended December 31, 2021 and 2020 (In thousands of R$, unless otherwise stated)
CONSOLIDATED BALANCE SHEET
December 31, | December 31, | ||||
LIABILITIES | Note | 2021 | 2020 | ||
CURRENT | |||||
Trade accounts payable | 17 | 3,288,897 | 2,361,098 | ||
Loans, financing and debentures | 18.1 | 3,655,537 | 2,043,386 | ||
Lease liabilities | 19.2 | 623,282 | 620,177 | ||
Derivative financial instruments | 4.5 | 1,563,459 | 1,991,118 | ||
Taxes payable | 339,553 | 170,482 | |||
Payroll and charges | 590,529 | 492,728 | |||
Liabilities for assets acquisitions and associates | 23 | 99,040 | 101,515 | ||
Dividends payable | 11 | 919,073 | 6,232 | ||
Advances from customers | 103,656 | 25,171 | |||
Other liabilities | 368,198 | 360,916 | |||
Total current liabilities | 11,551,224 | 8,172,823 | |||
NON-CURRENT | |||||
Loans, financing and debentures | 18.1 | 75,973,092 | 70,856,496 | ||
Lease liabilities | 19.2 | 5,269,912 | 4,571,583 | ||
Derivative financial instruments | 4.5 | 6,331,069 | 6,126,282 | ||
Liabilities for assets acquisitions and associates | 23 | 306,912 | 400,713 | ||
Provision for judicial liabilities | 20.1 | 3,232,612 | 3,255,955 | ||
Employee benefit plans | 21.2 | 675,158 | 785,045 | ||
Deferred taxes | 12 | 570 | |||
Share-based compensation plans | 22.3 | 166,998 | 195,135 | ||
Advances from customers | 149,540 | ||||
Other liabilities | 143,505 | 98,768 | |||
Total non-current liabilities | 92,248,798 | 86,290,547 | |||
TOTAL LIABILITIES | 103,800,022 | 94,463,370 | |||
EQUITY | 25 | ||||
Share capital | 9,235,546 | 9,235,546 | |||
Capital reserves | 15,455 | 10,612 | |||
Treasury shares | (218,265) | (218,265) | |||
Retained earnings | 3,927,824 | ||||
Other reserves | 2,114,907 | 2,129,944 | |||
Accumulated deficit | (3,926,015) | ||||
Controlling shareholders´ | 15,075,467 | 7,231,822 | |||
Non-controlling interest | 99,663 | 105,556 | |||
Total equity | 15,175,130 | 7,337,378 | |||
TOTAL LIABILITIES AND EQUITY | 118,975,152 | 101,800,748 |
The accompanying notes are an integral part of this consolidated financial statements.
4
Suzano S.A.
Consolidated financial statements
Year ended December 31, 2021, 2020 and 2019
(In thousands of R$, unless otherwise stated)
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
December 31, | December 31, | December 31, | ||||
Note | 2021 | 2020 | 2019 | |||
NET SALES | 28 | 40,965,431 | 30,460,277 | 26,012,950 | ||
Cost of sales | 30 | (20,615,588) | (18,966,331) | (20,743,482) | ||
GROSS PROFIT | 20,349,843 | 11,493,946 | 5,269,468 | |||
OPERATING INCOME (EXPENSES) | ||||||
Selling | 30 | (2,291,722) | (2,174,652) | (1,905,279) | ||
General and administrative | 30 | (1,577,909) | (1,443,192) | (1,173,358) | ||
Income from associates and joint ventures | 14 | 51,912 | 36,142 | 31,993 | ||
Other, net | 30 | 1,648,067 | 531,150 | 405,754 | ||
OPERATING PROFIT BEFORE NET FINANCIAL | ||||||
INCOME (EXPENSES) | 18,180,191 | 8,443,394 | 2,628,578 | |||
NET FINANCIAL INCOME (EXPENSES) | 27 | |||||
Financial expenses | (4,221,301) | (4,459,425) | (4,178,848) | |||
Financial income | 272,556 | 327,475 | 493,246 | |||
Derivative financial instruments | (1,597,662) | (9,422,682) | (1,075,252) | |||
Monetary and exchange variations, net | (3,800,827) | (12,530,891) | (1,964,927) | |||
NET INCOME (LOSS) BEFORE TAXES | 8,832,957 | (17,642,129) | (4,097,203) | |||
Income and social contribution taxes | ||||||
Current | 12 | (292,115) | (181,926) | (246,110) | ||
Deferred | 12 | 94,690 | 7,109,120 | 1,528,571 | ||
NET INCOME (LOSS) FOR THE YEAR | 8,635,532 | (10,714,935) | (2,814,742) | |||
Attributable to | ||||||
Controlling shareholders' | 8,626,386 | (10,724,828) | (2,817,518) | |||
Non-controlling interest | 9,146 | 9,893 | 2,776 | |||
Earnings (loss) per share | ||||||
Basic | 26.1 | 6.39360 | (7.94890) | (2.08825) | ||
Diluted | 26.2 | 6.39205 | (7.94890) | (2.08825) |
The accompanying notes are an integral part of this consolidated financial statements.
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Suzano SA published this content on 09 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2022 21:39:00 UTC.