v3.26.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2026
Investments [Abstract]  
Disclosure of Investments Accounted for Using Equity Method and Fair Value - ICO
03/31/202612/31/2025
Investments in associates and joint ventures
240,350 
264,312 
Goodwill
29,384 
29,384 
Other investments evaluated at fair value through other comprehensive income (1)
864,524 
901,181 
1,134,258 
1,194,877 
Investments
1,134,258 
1,194,877 
1,134,258 
1,194,877 
(1) It includes the fair value measurement of Lenzing Aktiengesellschaft. As of March 31, 2026, the carrying amount of the investment was R$831,600 (R$865,986 as of December 31, 2025).
Disclosure of Detailed Information About Investment in Associates and Joint Ventures
Information of investees as at
Company Participation
03/31/2026Carrying amountIn the income (expenses) for the period
EquityIncome (expenses) of the periodParticipation equity (%)03/31/202612/31/202503/31/202603/31/2025
Associate
Foreign
Ensyn Corporation (3)
 
(3,091)
Spinnova Plc. (1)
183,627 
(88,538)
18.76 
%
34,449 
54,391 
(16,610)
(9,161)
Simplifyber, Inc.
43,498 
(6,460)
15.52 
%
6,750 
7,973 
(1,004)
Allotrope Energy Ltd
2,636 
19.72 
%
520 
556 
41,719 
62,920 
(17,614)
(12,252)
Joint ventures
Domestic (Brazil)
Biomas - Serviços Ambientais, Restauração e Carbono Ltda.
13,813 
(9,865)
16.66 
%
2,302 
3,945 
(1,644)
(1,449)
Ibema Companhia Brasileira de Papel
393,445 
(2,231)
49.90 
%
196,329 
197,442 
(1,114)
3,551 
Foreign
Woodspin Oy (2)
 
 
 
(6,927)
198,631 
201,387 
(2,758)
(4,825)
Other investments evaluated at fair value through other comprehensive income
Bem Agro Integração e Desenvolvimento S.A.
4.58 
%
3,396 
3,581 
 
Celluforce Inc.
8.28 
%
24,178 
25,975 
Nfinite Nanotechnology Inc.
5.40 
%
5,350 
5,639 
 
Lenzing Aktiengesellschaft
15.00 
%
831,600 
865,986 
 
864,524 
901,181 
 
 
Goodwill (2)(3)
29,384 
29,389 
29,384 
29,389 
 
1,134,258 
1,194,877 
(20,372)
(17,077)
(1)The average share price quoted on the Nasdaq First North Growth Market (NFNGM) was EUR0.42 on March 31, 2026 and EUR0.46 on December 31, 2025.
(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.