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COMPANY'S OPERATIONS
 12 Months Ended
Dec. 31, 2025
Company´s Operations [Abstract]  
COMPANY'S OPERATIONS
1 COMPANY’S OPERATIONS
Suzano S.A. (“Suzano”) and its subsidiaries (collectively the “Company”) is a public company with its headquarters in Brazil, at Professor Magalhães Neto Avenue, No. 1,752 - 10th floor, rooms 1010 and 1011, Pituba District, in the city of Salvador, State of Bahia, and its main business office in the city of São Paulo.
Suzano’s shares are traded on B3 S.A. (“Brasil, Bolsa, Balcão - “B3”), listed in the New Market under the ticker SUZB3, and its American Depositary Receipts (“ADRs”) in a ratio of 1 (one) per common share, Level II, are traded in the New York Stock Exchange (“NYSE”) under the ticker SUZ.
The Company has 16 industrial units, 14 located in Brazil in the cities of Cachoeiro de Itapemirim and Aracruz (Espírito Santo State), Belém (Pará State), Eunápolis and Mucuri (Bahia State), Maracanaú (Ceará State), Imperatriz (Maranhão State), Jacareí, Limeira, Mogi das Cruzes and two units in Suzano (São Paulo State) and Três Lagoas and Ribas do Rio Pardo (Mato Grosso do Sul State) and two units in United States located in the cities of Pine Bluff (Arkansas) and Waynesville (North Carolina).
These units produce hardwood pulp from eucalyptus, coated paper, paperboard, uncoated paper and cut size paper and packages of sanitary paper (consumer goods - tissue) to serve the domestic and foreign markets.
The Company also has six technology centers, four located in Brazil, one in China and one in Israel focused on product development and industrial process improvement.
In addition, it has a global logistics structure that supports its commercial and export operations. In Brazil, the Company has 29 distribution centers and four ports, strategically located for the distribution of its products. Abroad, the structure consists of approximately 73 terminals, distributed across Asia, Europe, the United States, Ecuador and Argentina.
Pulp and paper are sold in foreign markets by Suzano, as well as through its wholly-owned subsidiaries and/or its sales offices in Argentina, Austria, China, Ecuador, United States of America and Singapore.
The Company's operations also include the commercial management of eucalyptus forest for its own use, operation of port terminals, and holding of interests, as a partner or shareholder, in other companies or enterprises, and commercialization of electricity generated from its pulp production process.
The Company is controlled by Suzano Holding S.A., through a voting agreement whereby it holds 49.28% of the common shares of its share capital (49.25% as of December 31, 2024).
These consolidated financial statements were authorized by the the Board of Directors on February 10, 2026.
1.1 Equity interests
The Company holds equity interests in the following entities:
% equity interest
Entity/Type of investment Main activityCountry12/31/202512/31/2024
Consolidated
F&E Tecnologia do Brasil S.A. (Direct)Biofuel production, except alcoholBrazil
100.00
%
100.00
%
Fibria Celulose (USA) Inc. (Direct)Business officeUnited States of America
100.00
%
100.00
%
Fibria Terminal de Celulose de Santos SPE S.A. (Direct)Port operationsBrazil
100.00
%
100.00
%
FuturaGene Ltda. (Direct)Biotechnology research and developmentEngland
100.00
%
100.00
%
FuturaGene Delaware Inc. (Indirect)
Biotechnology research and development
United States of America
100.00
%
100.00
%
FuturaGene Israel Ltda. (Indirect)
Biotechnology research and development
Israel
100.00
%
100.00
%
FuturaGene Inc. (Indirect)
Biotechnology research and development
United States of America
100.00
%
100.00
%
Maxcel Empreendimentos e Participações S.A. (Direct)HoldingBrazil
100.00
%
100.00
%
Itacel - Terminal de Celulose de Itaqui S.A. (Indirect)
Port operations
Brazil
100.00
%
100.00
%
Mucuri Energética S.A. (Direct)Power generation and distributionBrazil
100.00
%
100.00
%
Paineiras Logística e Transportes Ltda. (Direct)Road freight transportBrazil
100.00
%
100.00
%
Portocel - Terminal Espec. Barra do Riacho S.A. (Direct)Port operationsBrazil
51.00
%
51.00
%
Projetos Especiais e Investimentos Ltda. (Direct)Commercialization of equipment and partsBrazil
100.00
%
100.00
%
SFBC Participações Ltda. (Direct)Packaging productionBrazil
100.00
%
100.00
%
Suzano Argentina S.A.U (Direct) Commercialization of paper and computer materialsArgentina
100.00
%
100.00
%
Suzano Austria GmbH. (Direct)Business officeAustria
100.00
%
100.00
%
Suzano Canada Inc. (Direct)Lignin research and developmentCanada
100.00
%
100.00
%
Suzano Ecuador S.A.S. (Direct) Business officeEcuador
100.00
%
100.00
%
Suzano Finland Oy (Direct) (3)
Industrialization and commercialization of cellulose, microfiber cellulose and paperFinland
100.00
%
Suzano International Finance B.V (Direct)Financial fundraisingNetherlands
100.00
%
100.00
%
Suzano International Holding B.V. (Direct)HoldingNetherlands
100.00
%
100.00
%
Suzano International Trade GmbH. (Direct)Business officeAustria
100.00
%
100.00
%
Suzano Packaging LLC (Indirect)
Production of coated and uncoated paperboard, used in the production of Liquid Packaging Board and Cupstock
United States of America
100.00
%
100.00
%
Suzano Material Technology Development Ltd. (Direct)Biotechnology research and developmentChina
100.00
%
100.00
%
Suzano Netherlands B.V. (Direct)Financial fundraisingNetherlands
100.00
%
100.00
%
Suzano Operações Industriais e Florestais S.A. (Direct)Industrialization, commercialization and exporting of pulpBrazil
100.00
%
100.00
%
Suzano Pulp and Paper America Inc. (Direct)Business officeUnited States of America
100.00
%
100.00
%
Suzano Pulp and Paper Europe S.A. (Direct)Business officeSwitzerland
100.00
%
100.00
%
Suzano Shanghai Ltda. (Direct)Business officeChina
100.00
%
100.00
%
Suzano Shanghai Trading Ltda. (Direct) Business officeChina
100.00
%
100.00
%
Suzano Singapura Pte. Ltda. (Direct)Business officeSingapore
100.00
%
100.00
%
Suzano Trading International KFT(Direct)Business officeHungary
100.00
%
100.00
%
Suzano Ventures LLC (Direct)Corporate venture capitalUnited States of America
100.00
%
100.00
%
Joint operation
% equity interest
Entity/Type of investment Main activityCountry12/31/202512/31/2024
Veracel Celulose S.A. (Direct)Industrialization, commercialization and exporting of pulpBrazil
50.00
%
50.00
%
Equity
Allotrope Energy Ltd (Indirect) (2)
Research and development of battery technology based on carbon derived from lignin biomassEngland
20.00
%
Biomas Serviços Ambientais, Restauração e Carbono S.A. (Direct) Restoration, conservation and preservation of forestsBrazil
16.66
%
16.66
%
Muçununga Serviços Ambientais, Restauração e Carbono Ltda. (Indirect) (1)
Restoration, conservation and preservation of forests
Brazil
8.33
%
Ensyn Corporation (Direct) (4)
Biofuel research and developmentUnited States of America
24.80
%
F&E Technologies LLC (Direct/Indirect) (5)Biofuel production, except alcoholUnited States of America
50.00
%
Ibema Companhia Brasileira de Papel (Direct)Industrialization and commercialization of paperboardBrazil
49.90
%
49.90
%
Simplifyber, Inc. (Indirect) Production of consumer goods through the transformation of cellulose-based liquidsUnited States of America
14.20
%
13.91
%
Spinnova Plc. (Direct) (“Spinnova”)Research of sustainable raw materials for the textile industryFinland
18.76
%
18.77
%
Woodspin Oy (Direct/Indirect) (“Woodspin”) (3)
Development and production of cellulose-based fibers, yarns and textile filaments
Finland
18.76
%
50.00
%
Spinnova Refining Oy (Indirect) (3)
Industrialization and commercialization of cellulose, microfiber cellulose and paper
Finland
18.76
%
Fair value through other comprehensive income
Bem Agro Integração e Desenvolvimento S.A. (Indirect) Software solutions based on artificial intelligence and computer vision for agribusinessBrazil
5.82
%
5.82
%
Celluforce Inc. (Direct)Nanocrystalline pulp research and developmentCanada
8.28
%
8.28
%
Lenzing Aktiengesellschaft (Indirect)Production of wood-based cellulose fibersAustria
15.00
%
15.00
%
Nfinite Nanotechnology Inc. (Indirect)
Research and development of smart nanocoatingsCanada
4.90
%
5.00
%
(1) On September 24, 2025, Biomas Serviços Ambientais, Restauração e Carbono S.A. reduced its ownership interest in Muçununga Serviços Ambientais, Restauração e Carbono Ltda. from 100% to 50%, which remains an indirect investee of Suzano S.A.
(2) On September 30, 2025, pursuant to the Advance Subscription Agreement (ASA) entered into in December 2022, the investment made through Suzano Ventures in Allotrope Energy Ltd, held indirectly by Suzano S.A., was converted into preferred shares, corresponding to 20% of the investee's share capital.
(3) On October 3, 2025, the transaction with Spinnova Plc was completed, involving the transfer of the Company’s interest in Woodspin Oy and Suzano Finland Oy. Following the transaction, Suzano Finland Oy was renamed Spinnova Refining Oy, and Spinnova became the sole owner (100%) of both entities. The Company, in turn, retained an indirect interest in these companies.
(4) On November 26, 2025, the Company sold its entire interest in Ensyn Corporation.
(5) On December 29, 2025, the Company completed the liquidation of F&E Technologies LLC.

1.2 Major events in the year
1.2.1 Acquisition of an interest in a global tissue business
On June 5, 2025, the Company announced that its wholly owned subsidiary, Suzano International Holding B.V., incorporated in the Netherlands, entered into an Equity and Asset Purchase Agreement with Kimberly-Clark Corporation (“K-C”) for the acquisition of 51% equity interest (the “Transaction”) in a newly formed company in the Netherlands (“Target Company”).
The Transaction involves the acquisition of assets and businesses related to the manufacturing, marketing, distribution, and sale of tissue products in selected jurisdictions across the Americas, Europe, Asia, Africa, and Oceania. The Transaction includes 22 production facilities located in 14 countries. In addition, certain regional brands will be transferred to the Target Company, and certain global brands will be licensed by K-C to the Target Company in the relevant regions on a royalty-free, long-term basis.
K-C will retain the remaining 49% ownership interest in the Target Company. The Transaction also includes a call option granted to Suzano to acquire K-C’s remaining 49% stake, exercisable from the third anniversary of the closing date or, under certain conditions, earlier.
The agreed purchase price for the 51% interest is USD1,734 billion (equivalent to R$9,541 billions) to be paid in cash in full at closing, is subject to customary adjustments applicable to transactions of this nature. The closing of the transaction is subject to the satisfaction of customary precedent conditions, including regulatory approvals and local corporate reorganizations, and is expected to occur by mid-2026.
In accordance with IFRS 3 – Business Combinations, the Company will assess, on the closing date, the appropriate accounting treatment of the transaction, based on its final scope and the nature of the assets and operations transferred to the Target Company.
As of the issuance date of these financial statements, the Transaction has not had any accounting impacts on the Company’s consolidated financial information.
1.2.2 Share capital increase
On December 10, 2025, the Board of Directors approved the increase in the Company's share capital, in the amount of R$5,000,000, without the issuance of new shares, pursuant to article 169, paragraph 1, of the Brazilian Corporation Law, paid in through the capitalization of the balance of the Capital Increase Reserve in the amount of R$2,807,632 and part of the balance of the Investment Reserve in the amount of R$2,192,368, pursuant to Article 199 of the Brazilian Corporation Law.
1.2.3 Interim Dividends
On December 10, 2025, the Board of Directors approved the distribution of interim dividends by the Company, in the total amount of R$1,380,000, at the rate of R$1.11658725 per share, with payment made on February 4, 2026. The dividends were calculated based on the quarterly financial statements as of September 30, 2025, and were credited toward the mandatory minimum dividend for the fiscal year ended December 31, 2025.