Funds for growth Brazilian pulp and paper giant Suzano has announced it carried out investments of some R$18.6 billion ($3.8 billion) last year to upgrade and expand its capacities.
The invested amount represented an increase of 14 percent compared with a year earlier, the business said in a statement.
Walter Schalka, the CEO of Suzano, said the firm’s “investment cycle, including the highest annual investment ever, in 2023, represents the largest in our centennial history with over R$50 billion spent between 2019 and 2023. A further R$16.5 billion will be invested in 2024. In parallel, we have maintained strong cash generation and kept net debt at a sustainable level of US$11.5 billion, reflecting our commitment to strategic growth and financial discipline.”
“We faced a challenging scenario in 2023 and our results demonstrate the company’s resilience to generate value for our stakeholders. With the start-up of Cerrado Project, our structural competitiveness will be more robust in the coming years,” he said.