v3.25.4
Investments (Tables)
 12 Months Ended
Dec. 31, 2025
Investments [Abstract]  
Disclosure of Investments Accounted for Using Equity Method and Fair Value - ICO
12/31/202512/31/2024
Investments in associates and joint ventures264,312 453,371 
Goodwill (1)
29,384 225,486 
Other investments evaluated at fair value through other comprehensive income (2)
901,181 1,138,066 
1,194,877 1,816,923 
Investments1,194,877 1,816,923 
1,194,877 1,816,923 
(1) It refers to the transaction with the associate Spinnova Plc, involving the joint venture Woodspin Oy and the subsidiary Suzano Finland Oy, as well as the transaction with the associate Ensyn Corporation, involving the joint venture F&E Technologies LLC and the subsidiary F&E Tecnologia do Brasil S.A. (note 14.3).
(2) It includes the fair value measurement of Lenzing Aktiengesellschaft. As of December 31, 2025, the carrying amount of the investment was R$865,986 (R$1,099,870 as of December 31, 2024).
Disclosure of Detailed Information About Investment in Associates and Joint Ventures
Information of investees as at
Company Participation
12/31/2025Carrying amountIn the income (expenses) for the year
EquityIncome (expenses) of the yearParticipation equity (%)12/31/202512/31/202412/31/202512/31/2024
Associate
Foreign
Ensyn Corporation (3)
(25,295)(36,992)24.80 % 2 4,657 (6,966)
Spinnova Plc. (1)
289,950 (217,242)18.76 %54,391 95,254 (40,714)(19,690)
Simplifyber, Inc. 56,145 (10,604)14.20 %7,973 30,060 (1,506)
Allotrope Energy Ltd20.00 %556 
62,920 125,316 (37,563)(26,656)
Joint ventures
Domestic (Brazil)
Biomas - Serviços Ambientais, Restauração e Carbono Ltda.23,678 (40,506)16.66 %3,945 2,923 (6,476)(4,875)
Ibema Companhia Brasileira de Papel395,675 32,526 49.90 %197,442 193,901 16,230 37,199 
Foreign
F&E Technologies LLC (3)
(3,797)  % 6,378 (4,041) 
Woodspin Oy (2)
243,467   % 124,853 (124,372)(19,513)
201,387 328,055 (118,659)12,811 
Other investments evaluated at fair value through other comprehensive income
Bem Agro Integração e Desenvolvimento S.A.5.82 %3,581 4,026  
Celluforce Inc.8.28 %25,975 27,823 
Nfinite Nanotechnology Inc.4.90 %5,639 6,347  
Lenzing Aktiengesellschaft 15.00 %865,986 1,099,870  
901,181 1,138,066   
Goodwill (2)(3)
29,389 225,486 (224,096)
29,389 225,486 (224,096)
1,194,877 1,816,923 (380,318)(13,845)
(1)The average share price quoted on the Nasdaq First North Growth Market (NFNGM) was EUR0.61 on December 31, 2025 and EUR0.95 on December 31, 2024.
(2)In August 2025, the Company completed the sale of its entire equity interest in Woodspin Oy and Suzano Finland Oy to Spinnova Plc for the symbolic amount of 1 euro each. For the year ended December 31, 2025, as a result of this transaction, the following accounting effects were recognized, which significantly impacted the equity pickup line: R$ (117,447) related to the impairment of the investment, R$ (28,679) related to the obligation to make an additional capital contribution, and R$ 15,636 related to the realization of other comprehensive income of the joint venture Woodspin Oy; R$ (63,634) related to the write-off of goodwill of the associate Spinnova Plc; and R$ (88,871) related to the impairment of the investment in the subsidiary Suzano Finland Oy.
(3)In November 2025, the Company sold its entire equity interest in Ensyn Corporation, liquidated F&E Technologies LLC, and recognized impairment of the investment in F&E Tecnologia do Brasil S.A., both related to the same technology developed by Ensyn. As of December 31, 2025, as a result of this transaction, the following accounting effects were recognized, which impacted the equity pickup line: (i) R$ (160,462) related to the write-off of Ensyn goodwill; R$ 371 related to the recognition of the provision for losses on investments; and R$$9,896 related to the reclassification of other comprehensive income.