v3.26.1
INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Investments1 [Abstract]  
Disclosure of Investments Accounted for Using Equity Method and Fair Value - ICO
12/31/202512/31/2024
Investments in associates and joint ventures
264,312 
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 
Investments
1,194,877 
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 Ltd
20.00 
%
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 Papel
395,675 
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.