Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2023 shares
Document and Entity Information
Document Type	20-F
Document Annual Report	true
Entity Registrant Name	Suzano S.A.
Document Registration Statement	false
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38755
Entity Incorporation, State or Country Code	D5
Entity Address, Address Line One	Av. Professor Magalhães Neto, 1,752 10th Floor, Rooms 1009, 1010 and 1011
Entity Address, City or Town	Salvador
Entity Address, Country	BR
Entity Address, Postal Zip Code	41810-012
Entity Common Stock, Shares Outstanding	1,324,117,615
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Central Index Key	0000909327
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Firm ID	1351
Auditor Name	PricewaterhouseCoopers Auditores Independentes Ltda.
Auditor Location	São Paulo, Brazil
Business Contact [Member]
Document and Entity Information
Entity Address, Address Line One	Av. Brigadeiro Faria Lima, 1,355 - 7th Floor
Entity Address, City or Town	São Paulo
Entity Address, Country	BR
Entity Address, Postal Zip Code	01452-919
Contact Personnel Name	Marcelo Feriozzi Bacci
Country Region	+55
City Area Code	11
Local Phone Number	3503-9330
Contact Personnel Email Address	ri@suzano.com.br
Ordinary shares [member]
Document and Entity Information
Title of 12(b) Security	Our common shares without par value*
No Trading Symbol Flag	true
Security Exchange Name	NYSE
ADR [Member]
Document and Entity Information
Title of 12(b) Security	American Depositary Shares, or ADSs,** each representing one of our common shares
Trading Symbol	SUZB3/SUZ
Security Exchange Name	NYSE
Notes 4.000% due 2025, issued by Fibria Overseas Finance Ltd.
Document and Entity Information
Title of 12(b) Security	4.000% Notes due 2025, issued by Suzano International Finance B.V. (successor to Fibria Overseas Finance Ltd.)
Trading Symbol	FBR/25
Security Exchange Name	NYSE
Notes 5.500% due 2027, issued by Fibria Overseas Finance Ltd.
Document and Entity Information
Title of 12(b) Security	5.500% Notes due 2027, issued by Suzano International Finance B.V. (successor to Fibria Overseas Finance Ltd.)
Trading Symbol	FBR/27
Security Exchange Name	NYSE
Notes 6.000% due 2029, issued by Suzano Austria GmbH
Document and Entity Information
Title of 12(b) Security	6.000% Notes due 2029, issued by Suzano Austria GmbH
Trading Symbol	SUZ/29
Security Exchange Name	NYSE
Notes 5.000% due 2030, issued by Suzano Austria GmbH
Document and Entity Information
Title of 12(b) Security	5.000% Notes due 2030, issued by Suzano Austria GmbH
Trading Symbol	SUZ/30
Security Exchange Name	NYSE
Notes 3.750% due 2031, issued by Suzano Austria GmbH
Document and Entity Information
Title of 12(b) Security	3.750% Notes due 2031, issued by Suzano Austria GmbH
Trading Symbol	SUZ/31
Security Exchange Name	NYSE
Notes 2.500% due 2028, issued by Suzano Austria GmbH
Document and Entity Information
Title of 12(b) Security	2.500% Notes due 2028, issued by Suzano Austria GmbH
Trading Symbol	SUZ/28
Security Exchange Name	NYSE
Notes 3.125% due 2032, issued by Suzano Austria GmbH
Document and Entity Information
Title of 12(b) Security	3.125% Notes due 2032, issued by Suzano Austria GmbH
Trading Symbol	SUZ/32
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEET - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
CURRENT
Cash and cash equivalents	R$ 8,345,871	R$ 9,505,951
Marketable securities	12,823,886	7,546,639
Trade accounts receivable	6,848,454	9,607,012
Inventories	5,946,948	5,728,261
Recoverable taxes	888,539	549,580
Derivative financial instruments	2,676,526	3,048,493
Current	113,743	108,146
Dividends receivable		7,334
Other assets	925,105	1,021,234
Total current assets	38,569,072	37,122,650
NON-CURRENT
Marketable securities	443,400	419,103
Recoverable taxes	1,373,647	1,406,363
Deferred taxes	545,213	3,986,415
Derivative financial instruments	1,753,928	1,825,256
Non-Current Advances To Suppliers	2,242,229	1,592,132
Judicial deposits	361,693	362,561
Other assets	182,463	279,955
Biological assets	18,278,582	14,632,186
Investments	608,013	612,516
Property, plant and equipment	59,289,069	50,656,634
Right of use	5,196,631	5,109,226
Intangible	14,749,085	15,192,971
Total non-current	105,023,953	96,075,318
TOTAL ASSET	143,593,025	133,197,968
CURRENT
Trade accounts payable	5,572,219	6,206,570
Loans, financing and debentures	4,758,247	3,335,029
Lease liabilities	753,399	672,174
Derivative financial instruments	578,763	667,681
Taxes payable	443,454	449,122
Payroll and charges	766,905	674,525
Liabilities for assets acquisitions and associates	93,405	1,856,763
Dividends payable	1,316,528	5,094
Advances from customers	172,437	131,355
Other liabilities	339,683	494,230
Total current liabilities	14,795,040	14,492,543
NON-CURRENT
Loans, financing and debentures	72,414,445	71,239,562
Lease liabilities	5,490,383	5,510,356
Derivative financial instruments	1,857,309	4,179,114
Liabilities for assets acquisitions and associates	93,782	205,559
Provision for judicial liabilities	2,860,409	3,256,310
Employee benefit plans	833,683	691,424
Deferred taxes	11,377	1,118
Share-based compensation plans	268,489	162,117
Advances from customers	74,715	136,161
Other liabilities	83,093	157,339
Total non-current liabilities	83,987,685	85,539,060
TOTAL LIABILITIES	98,782,725	100,031,603
EQUITY
Share capital	9,235,546	9,235,546
Capital reserves	26,744	18,425
Treasury shares	(1,484,014)	(2,120,324)
Retained earnings	35,376,198	24,207,869
Other reserves	1,538,296	1,719,516
Controlling shareholders'	44,692,770	33,061,032
Non-controlling interest	117,530	105,333
Total equity	44,810,300	33,166,365
TOTAL LIABILITIES AND EQUITY	R$ 143,593,025	R$ 133,197,968

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
NET SALES	R$ 39,755,575	R$ 49,830,946	R$ 40,965,431
Cost of sales	(25,076,675)	(24,821,288)	(20,615,588)
Gross profit	14,678,900	25,009,658	20,349,843
OPERATING INCOME (EXPENSES)
Selling	(2,596,377)	(2,483,194)	(2,291,722)
General and administrative	(1,923,228)	(1,709,767)	(1,577,909)
Income from associates and joint ventures	(19,379)	284,368	51,912
Other operating income, net	2,076,372	1,121,716	1,648,067
OPERATING PROFIT BEFORE NET FINANCIAL INCOME (EXPENSES)	12,216,288	22,222,781	18,180,191
NET FINANCIAL INCOME (EXPENSES)
Financial expenses	(4,659,162)	(4,590,370)	(4,221,301)
Financial income	1,825,649	967,010	272,556
Derivative financial instruments	5,526,714	6,761,567	(1,597,662)
Monetary and exchange variations, net	3,087,727	3,294,593	(3,800,827)
NET INCOME (LOSS) BEFORE TAXES	17,997,216	28,655,581	8,832,957
Income and social contribution taxes
Current	(395,392)	(510,896)	(292,115)
Deferred	(3,495,443)	(4,749,798)	94,690
NET INCOME (LOSS) FOR THE PERIOD	14,106,381	23,394,887	8,635,532
Attributable to
Resulted of the year attributable to controlling shareholders'	14,084,848	23,381,617	8,626,386
Non-controlling interest	R$ 21,533	R$ 13,270	R$ 9,146
Earnings (loss) per share
Basic	R$ 10.85794	R$ 17.57724	R$ 6.39360
Diluted	R$ 10.85387	R$ 17.57305	R$ 6.39205

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of comprehensive income [abstract]
Net income (loss) for the year	R$ 14,106,381	R$ 23,394,887	R$ 8,635,532
Other comprehensive income (loss)
Fair value investments in equity measured at fair value through other comprehensive income	(1,311)	(3,441)	2,020
Tax effect on the fair value of investments	446	1,170	(687)
Actuarial gain (loss) on post-employment plans of subsidiaries	(480)	(9,499)	2,289
Tax effect of the actuarial loss	163	3,260	(778)
Actuarial gain (loss) on post-employment plans of subsidiaries	(128,047)	(3,182)	117,353
Tax effect of the actuarial loss	43,536	1,082	(39,900)
Items with no subsequent effect on income	(85,693)	(10,610)	80,297
Exchange rate variation on conversion of financial information of the subsidiaries abroad	4,707	(16,035)	46,006
Realization of the above items	471	(235,737)	(825)
Items with no subsequent effect on income	5,178	(251,772)	45,181
Total comprehensive income (loss)	14,025,866	23,132,505	8,761,010
Attributable to
Controlling shareholders'	14,004,333	23,119,235	8,751,864
Non-controlling interest	R$ 21,533	R$ 13,270	R$ 9,146

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - BRL (R$) R$ in Thousands	Share Capital	Share issuance costs	Stock options granted	Treasury shares	Tax incentives	Legal Reserve	Capital increase reserve	Special statutory reserve	Investment reserve [Member]	Dividends proposed	Other reserves	Retained earnings (losses)	Total	Non-controlling interest	Total
Beginning balances at Dec. 31, 2020	R$ 9,269,281	R$ (33,735)	R$ 10,612	R$ (218,265)							R$ 2,129,944	R$ (3,926,015)	R$ 7,231,822	R$ 105,556	R$ 7,337,378
Total comprehensive income
Net income (loss) for the year												8,626,386	8,626,386	9,146	8,635,532
Other comprehensive income for the year											125,478		125,478		125,478
Transactions with shareholders:
Stock options granted			4,843										4,843		4,843
Unclaimed dividends forfeited								49					49		49
Proposed minimum mandatory dividends												(913,111)	(913,111)		(913,111)
Additional proposed dividend										86,889		(86,889)
Fair value attributable to non-controlling interests														(15,039)	(15,039)
Internal changes in equity:
Constitution of reserves					812,909	235,019	2,513,663	279,295				(3,840,886)
Realization of deemed cost, net of taxes											(140,515)	140,515
Ending balances at Dec. 31, 2021	9,269,281	(33,735)	15,455	(218,265)	812,909	235,019	2,513,663	279,344		86,889	2,114,907		15,075,467	99,663	15,175,130
Total comprehensive income
Net income (loss) for the year												23,381,617	23,381,617	13,270	23,394,887
Other comprehensive income for the year											(262,382)		(262,382)		(262,382)
Transactions with shareholders:
Stock options granted			5,335										5,335		5,335
Shares granted			(2,365)	2,365
Shares repurchased				(1,904,424)									(1,904,424)		(1,904,424)
Unclaimed dividends forfeited												2,308	2,308		2,308
Proposed additional dividend payment							(719,903)	(80,000)					(799,903)		(799,903)
Payment of supplementary dividends							(97)			(86,889)			(86,986)		(86,986)
Proposed minimum mandatory dividends												(2,256,367)	(2,256,367)		(2,256,367)
Additional proposed dividend												(93,633)	(93,633)		(93,633)
Fair value attributable to non-controlling interests														(7,600)	(7,600)
Internal changes in equity:
Constitution of reserves					66,871	1,169,080	17,937,885	1,993,098				(21,166,934)
Reversal of the tax incentive reserve					(502)		502
Realization of deemed cost, net of taxes											(133,009)	133,009
Ending balances at Dec. 31, 2022	9,269,281	(33,735)	18,425	(2,120,324)	879,278	1,404,099	19,732,050	2,192,442			1,719,516		33,061,032	105,333	33,166,365
Total comprehensive income
Net income (loss) for the year												14,084,848	14,084,848	21,533	14,106,381
Other comprehensive income for the year											(80,515)		(80,515)		(80,515)
Transactions with shareholders:
Shares granted			8,319										8,319		8,319
Shares repurchased				(880,914)									(880,914)		(880,914)
Treasury shares cancelled				1,517,224				(1,517,224)
Interest on own capital												(1,500,000)	(1,500,000)		(1,500,000)
Additional proposed dividend
Fair value attributable to non-controlling interests														(9,336)	(9,336)
Internal changes in equity:
Constitution of reserves					118,959	443,010	10,911,226	1,212,358				(12,685,553)
Constitution of investment reserve							(14,972,324)		14,972,324
Realization of deemed cost, net of taxes											(100,705)	100,705
Ending balances at Dec. 31, 2023	R$ 9,269,281	R$ (33,735)	R$ 26,744	R$ (1,484,014)	R$ 998,237	R$ 1,847,109	R$ 15,670,952	R$ 1,887,576	R$ 14,972,324		R$ 1,538,296		R$ 44,692,770	R$ 117,530	R$ 44,810,300

CONSOLIDATED STATEMENTS OF CASH FLOW - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES
Net income (loss) for the year	R$ 14,106,381	R$ 23,394,887	R$ 8,635,532
Adjustment to
Depreciation, depletion and amortization	6,999,839	7,206,125	6,879,132
Depreciation of right of use	321,271	231,966	203,670
Sublease of ships		(11,314)	(44,706)
Interest expense on lease liabilities	441,596	433,613	427,934
Result from sale and disposal of property, plant and equipment and biological assets, net	331,285	509	(412,612)
Income (expense) from associates and joint ventures	19,379	(284,368)	(51,912)
Exchange rate and monetary variations, net	(3,087,727)	(3,294,593)	3,800,827
Interest expenses on financing, loans and debentures, net	4,797,094	4,007,737	3,207,278
Expenses with early settlements premium			260,289
Capitalized loan cost	(1,160,364)	(359,407)	(18,624)
Accrual of interest on marketable securities	(1,352,522)	(707,211)	(178,320)
Amortization of transaction costs	67,353	69,881	107,239
Derivative losses, net	(5,526,714)	(6,761,567)	1,597,662
Result on fair value adjustment of biological assets	(1,989,831)	(1,199,759)	(763,091)
Deferred income tax and social contribution	3,495,443	4,749,798	(94,690)
Interest on actuarial liabilities	69,231	59,258	55,849
Provision for judicial liabilities, net	139,934	88,198	65,318
(Reversal of) provision for allowance for doubtful accounts, net	35,202	1,652	(637)
Provision for inventory losses, net	31,419	56,060	73,574
Provision (reversal) for loss of ICMS credits, net	348,628	58,003	(99,183)
Tax credits	15,108	1,324	(441,880)
Other	51,830	2,794	26,449
Decrease (increase) in assets
Trade accounts receivables	2,155,448	(3,267,356)	(3,393,787)
Inventories	(48,673)	(967,995)	(654,757)
Recoverable taxes	(666,681)	(381,408)	186,013
Other assets	328,800	(95,382)	(72,760)
Increase (decrease) in liabilities
Trade accounts payables	463,003	1,533,118	1,363,478
Taxes payable	329,556	422,591	271,700
Payroll and charges	73,096	83,742	97,792
Other liabilities	(277,538)	(9,007)	(191,976)
Cash provided by operations	20,510,846	25,061,889	20,840,801
Payment of interest with financing, loans and debentures	(4,728,998)	(4,019,072)	(2,953,573)
Finance costs paid, classified as operating activities	1,160,364	359,407	18,624
Payment of early settlement premiums			(260,289)
Interest received from marketable securities	681,268	544,849	98,110
Payment of income taxes	(308,002)	(306,453)	(106,180)
Cash provided by operating activities	17,315,478	21,640,620	17,637,493
INVESTING ACTIVITIES
Additions to property, plant and equipment	(11,674,183)	(9,791,238)	(2,150,584)
Additions to intangible	(104,931)	(90,499)	(285,278)
Additions to biological assets	(5,777,952)	(4,957,380)	(3,807,608)
Proceeds from sale of property, plant and equipment	183,576	251,183	1,411,251
Capital increase in subsidiaries and affiliates	(48,462)	(67,020)	(51,816)
Marketable securities, net	(5,296,370)	67,426	(5,216,921)
Advances for acquisition (receipt) of wood from operations with development and partnerships	(690,908)	(355,362)	(257,672)
Dividends received	44,789	6,604	6,453
Asset acquisition	(1,615,140)	(2,090,062)
Acquisition of subsidiaries	(1,060,718)
Cash and cash equivalents from asset acquisitions	5,002	10,590
Acquisition of non-controlling interests			(6,516)
Cash used in investing activities	(26,035,297)	(17,015,758)	(10,358,691)
FINANCING ACTIVITIES
Proceeds from loans, financing and debentures	10,944,794	1,335,715	16,991,962
Payment of derivative transactions	3,559,286	282,225	(1,921,253)
Payment of loans, financing and debentures	(4,296,447)	(2,517,934)	(15,469,423)
Payment of leases	(1,218,399)	(1,044,119)	(1,012,137)
Payment of dividends	(192,532)	(4,150,782)	(9,683)
Liabilities for assets acquisitions and associates	(116,924)	(107,888)	(153,357)
Shares repurchased	(880,914)	(1,904,424)
Cash provided (used) by financing activities	7,798,864	(8,107,207)	(1,573,891)
EXCHANGE VARIATION ON CASH AND CASH EQUIVALENTS	(239,125)	(602,480)	1,050,808
Increase (decrease) in cash and cash equivalents, net	(1,160,080)	(4,084,825)	6,755,719
At the beginning of the year	9,505,951	13,590,776	6,835,057
At the end of the year	R$ 8,345,871	R$ 9,505,951	R$ 13,590,776

COMPANY'S OPERATIONS

12 Months Ended

Dec. 31, 2023

COMPANY'S OPERATIONS

COMPANY'S OPERATIONS

1. COMPANY'S OPERATIONS

Suzano S.A. (“Suzano”), together with its subsidiaries (collectively the “Company”), is a public company with its headquarters in Brazil, at Avenida Professor Magalhães Neto, No. 1,752 - 10th floor, rooms 1010 and 1011, Bairro Pituba, 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 13 industrial units, located 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 (Mato Grosso do Sul State). Additionally, it has four technology centers, 30 distribution centers and four ports, all located in Brazil.

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.

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, the operation of port terminals, and the holding of interests, as a partner or shareholder, in other companies or enterprises, and the generation of electricity in the pulp production process and its commercialization.

The Company is controlled by Suzano Holding S.A., through a voting agreement whereby it holds 46.97% of the common shares of its share capital.

The financial statements were approved and their issuance authorized by the Board of Directors on February 28, 2024.

1.1.Equity interests

The Company holds equity interests in the following entities:


			% equity interest
Entity/Type of investment	Main activity	Country	December 31, 2023		December 31, 2022

Consolidated
F&E Tecnologia do Brasil S.A. (Direct)	Biofuel production, except alcohol	Brazil	100.00	%	100.00	%
Fibria Celulose (USA) Inc. (Direct)	Business office	United States of America	100.00	%	100.00	%
Fibria Overseas Finance Ltd. (Direct)	Financial fundraising	Cayman Island	100.00	%	100.00	%
Fibria Terminal de Celulose de Santos SPE S.A. (Direct)	Port operations	Brazil	100.00	%	100.00	%
FuturaGene Ltd.	Biotechnology research and development	England	100.00	%	100.00	%
FuturaGene Delaware Inc. (Indirect)	Biotechnology research and development	United States of America	100.00	%	100.00	%
FuturaGene Israel Ltd. (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)	Holding	Brazil	100.00	%	100.00	%
Itacel - Terminal de Celulose de Itaqui S.A. (Indirect)	Port operations	Brazil	100.00	%	100.00	%
MMC Brasil Indústria e Comércio Ltda (Direct) (1)	Industrialization and commercialization of wipes, cleaning and sanitary and personal hygiene products.	Brazil	—	%
Mucuri Energética S.A. (Direct)	Power generation and distribution	Brazil	100.00	%	100.00	%
Paineiras Logística e Transportes Ltda. (Direct)	Road freight transport	Brazil	100.00	%	100.00	%
Portocel - Terminal Espec. Barra do Riacho S.A. (Direct)	Port operations	Brazil	51.00	%	51.00	%
Projetos Especiais e Investimentos Ltda. (Direct)	Commercialization of equipment and parts	Brazil	100.00	%	100.00	%
SFBC Participações Ltda. (Direct)	Packaging production	Brazil	100.00	%	100.00	%
Stenfar S.A. Indl. Coml. Imp. Y. Exp. (Direct)	Commercialization of paper and computer materials	Argentina	100.00	%	100.00	%
Suzano Austria GmbH. (Direct)	Financial fundraising	Austria	100.00	%	100.00	%
Suzano Canada Inc. (Direct)	Lignin research and development	Canada	100.00	%	100.00	%
Suzano Ecuador S.A.S. (Direct) (2)	Business office	Ecuador	100.00	%
Suzano Finland Oy (Direct)	Industrialization and commercialization of cellulose, microfiber cellulose and paper	Finland	100.00	%	100.00	%
Suzano International Finance B.V (Direct)	Financial fundraising	Netherlands	100.00	%	100.00	%
Suzano International Holding B.V (Direct) (3)	Holding	Netherlands	100.00	%
Suzano International Trade GmbH. (Direct)	Business office	Austria	100.00	%	100.00	%
Suzano Material Technology Development Ltd. (Direct)	Biotechnology research and development	China	100.00	%	100.00	%
Suzano Netherlands B.V. (Direct) (3)	Financial fundraising	Netherlands	100.00	%
Suzano Operações Industriais e Florestais S.A. (Direct)	Industrialization, commercialization and exporting of pulp	Brazil	100.00	%	100.00	%
Suzano Pulp and Paper America Inc. (Direct)	Business office	United States of America	100.00	%	100.00	%
Suzano Pulp and Paper Europe S.A. (Direct)	Business office	Switzerland	100.00	%	100.00	%
Suzano Shanghai Ltd. (Direct)	Business office	China	100.00	%	100.00	%
Suzano Shanghai Trading Ltd. (Direct) (4)	Business office	China	100.00	%
Suzano Singapore Pte. Ltd (Direct) (5)	Business office	Singapore	100.00	%
Suzano Trading International KFT(Direct)	Business office	Hungary	100.00	%	100.00	%
Suzano Ventures LLC (Direct)	Corporate venture capital	United States of America	100.00	%	100.00	%

Joint operation
Veracel Celulose S.A. (Direct)	Industrialization, commercialization and exporting of pulp	Brazil	50.00	%	50.00	%


			% equity interest
Entity/Type of investment	Main activity	Country	December 31, 2023		December 31, 2022

Equity
Biomas Serviços Ambientais, Restauração e Carbono S.A. (Direct) (6)	Restoration, conservation and preservation of forests	Brazil	16.66	%	100.00	%
Ensyn Corporation (Direct) (7)	Biofuel research and development	United States of America	25.53	%	26.59	%
F&E Technologies LLC (Direct/Indirect)	Biofuel production, except alcohol	United States of America	50.00	%	50.00	%
Ibema Companhia Brasileira de Papel (Direct)	Industrialization and commercialization of paperboard	Brazil	49.90	%	49.90	%
Spinnova Plc (Direct) (“Spinnova”)	Research of sustainable raw materials for the textile industry	Finland	18.78	%	19.03	%
Woodspin Oy (Direct/Indirect) (“Woodspin”)	Development and production of cellulose-based fibers, yarns and textile filaments	Finland	50.00	%	50.00	%

Fair value through other comprehensive income
Celluforce Inc. (Direct)	Nanocrystalline pulp research and development	Canada	8.28	%	8.28	%

(1)On June 1, 2023, the Company completed the acquisition of MMC Brasil and on November 1, 2023 the legal entity has fully merged by Suzano S.A. (Note 1.2.3.)

(2)On March 8, 2023, establishment of legal entity with full equity interest from Suzano S.A.

(3)On December 13, 2023, establishment of legal entity with full equity interest from Suzano S.A.

(4)On May 19, 2023, establishment of legal entity with full equity interest from Suzano S.A.

(5)On May 23, 2023, establishment of legal entity with full equity interest from Suzano S.A.

(6)On February 27 and March 21, 2023, equivalent contributions were made by the six shareholders of Biomas to constitute an equity interest (Note 1.2.6).

(7)On May 17, 2023, and on October 18, 2023the percentage of interest was changed due to the dilution of the shares.

1.2.Major events in the year

1.2.1.Effects of the war between Russia and Ukraine, and Middle East conflict

The Company has continuously monitored the impacts of the current war between Russia and Ukraine, and the Middle East conflict, both direct and indirect, on society, the economy and markets (global and domestic), with the objective of evaluating possible impacts and risks for the business.

The Company’s assessment has covered five main areas:

(i)Personnel: Suzano has local employees and facilities in the city of Rehovot in Israel, through its subsidiary, FuturaGene Israel Ltd. The Company continuously monitors the situation.

In the context of the conflict between Russia and Ukraine, Suzano does not have employees or facilities of any kind in locations related to the conflict.

(ii)Supply Chain: the Company did not identify any short-term or long-term risk of possible interruptions or shortages of materials for its industrial and forestry activities. So far, the only effects observed have been greater volatility in commodities and energy prices.

(iii)Logistics: internationally, there was no material change in the Company’s logistical operations, with all the routes used remaining substantially unchanged and the moorings in the planned locations being maintained. At the domestic level, no changes in logistical flows were identified.

(iv)Commercial: to date, the Company has continued with its transactions as planned, maintaining service to its customers in all its sectors of activity. Sales to a few customers located in Russia were suspended, without any significant financial impact.

(v)Continuity of operations: The conflict in Israel may result in disruptions to the biotechnology research and development operations of FuturaGene Israel Ltd.

As a result of the current scenario, the Company has taken steps to expand its monitoring of the situation, together with its main stakeholders, in order to ensure any updates and information are shared with its global decision-making are available in a timely manner.

1.2.2.Cerrado Project

On October 28, 2021, the Company’s Board of Directors approved the realization of the Cerrado Project, which consists of building a pulp production mill in the municipality of Ribas do Rio Pardo, in the state of Mato Grosso do Sul.

The plant will have an estimated nominal capacity of 2,550,000 tons of eucalyptus pulp production per year, with an estimated period for starting operations in the first semester of 2024. The total investment is R$22,200,000, with substantial payments during the years of 2021 to 2025.

1.2.3.Acquisition of tissue business in Brazil

On June 1, 2023, the Company acquired the totality of the quotas held by Kimberly-Clark Brasil Indústria e Comércio de Produtos de Higiene Ltda. (“KC Brasil”) in MMC Brasil Indústria e Comércio Ltda (“MMC Brasil”), located in Mogi das Cruzes (São Paulo), for the consideration of US$212,029 million (equivalent to R$1,072,657) paid in cash (“Transaction”). On September 15, 2023, Suzano was reimbursed in the amount of R$11,939 due to variations on the closing balance related to working capital, cash and estimated value of inventory which results with an adjusted total purchase consideration of R$1,060,718.

MMC Brasil had no operations until the contribution made by KC Brasil as a result of the carve out carried out in May 25, 2023 of the assets related to the business of manufacturing, marketing, distributing and selling of tissue products, including toilet paper, paper towels, napkins, tissues, as well as other paper products in Brazil, including ownership of the brand “NEVE” of KC Brasil.

The following table summarizes the allocation of the purchase price:


Total purchase consideration (full payment on closing)						1,072,657
Price Adjustment (working capital)						(11,939)
Final total purchase consideration (full payment on closing)						1,060,718
Book value of Shareholders' Equity of MMC Brasil						587,226

Fair value adjustment
Inventories (1)						7,120
Property, plant and equipment (2)						105,858
Trademark and patents (3)						189,655
Net identifiable assets acquired						889,859
Goodwill (4)						170,859

(1) Measured considering the balance of finished products based on selling price, net of selling expenses.

(2) Measured based on the analysis of market data on comparable transactions and cost quantification, based on the estimate of replacement or replacement value of the assets.

(3) Measured based on revenue projections for products under the evaluated brands, according to the Refief from Royalties methodology.

(4) Goodwill is attributable to the workforce and expected future profitability of the acquired business. It will be deductible for tax purposes.

Considering the fact that MMC Brasil was created based on a carve out of a portion of the KC Brasil businesses, counterparty of the transaction, there is no previous history of revenue and/or profits specifically for the acquired entity to be considered or included in a pro forma consolidated revenue and pro forma consolidated profit as if the acquisition had occurred on January 1, 2023.

No deferred tax was recognized on the fair value adjustments, as MMC was merged on November 1, 2023.

Acquisition related costs of R$22,752 are included in administrative expenses in profit or loss.

1.2.4.Federal Supreme Court (“STF”) decision – Effectiveness of final and unappealable tax decisions

On February 8, 2023, the Federal Supreme Court in Brazil concluded the judgments of Items 881 and 885, which discussed the effects of res judicata. The Company is not a party to any litigation related to a tax not being collected due to a past decision considered unappealable, therefore, the Company has no material adjustment due to the decision.

1.2.5.Treasury shares cancelled

On February 28, 2023, the Board of Directors decided to cancel 37,145,969 common shares, with an average cost of R$40.84 (forty reais and eighty-four cents) per share, in the amount of R$1,517,224, that were being held in treasury, without changing the share capital and against the balances of available profit reserves. After the cancellation of shares, the share capital of R$9,269,281 is now divided into 1,324,117,615 common shares, all nominative, book-entry and without par value.

1.2.6.Biomas

On September 5, 2022, Biomas Serviços Ambientais, Restauração e Carbono Ltda. (“Biomas”) was initially established by Suzano S.A.

On November 12, 2022, Suzano in partnership with Itaú Unibanco S.A, Marfrig Global Foods S.A., Rabobank Foundational Investments B.B., Santander Corretora de Seguros, Investimentos e Serviços S.A. and Vale S.A., announced an alliance during an event held at the Climate Conference, COP27, in Egypt, for the creation of a company focused entirely to forest restoration, conservation and preservation activities in Brazil.

After the transformation of Biomas into a joint venture, Suzano, together with Marfrig, Rabobank and Vale, made a commitment to invest R$20,000 each partner, in accordance to the terms of the respective investment agreements on February 27, 2023, once the conditions precedent and closing acts established in said agreements were fulfilled. Itaú and Santander made their respective capital contributions on March 21, 2023.

For the year ended December 31, 2023, the amount of R$30,000 (R$5,000 for each partner) was fully paid with a remaining balance of R$90,000 (R$15,000 for each partner) to be paid.

With the above investments, each company now holds 16.66% of equity interest at Biomas.

1.2.7.Interest on own capital

On December 1, 2023, the Board of Directors approved the distribution of interest on equity in the total gross amount of R$1,500,000, at the ratio of BRL 1.163375077 per share, considering the number of “ex-treasury” shares at the date of the distribution, as remuneration based on the profit shown in the balance sheet dated September 30, 2023.

Interest on own capital is subject to a withholding income tax of 15%, except for shareholders who are proven to be exempt, in accordance with legislation in force. Income tax in the amount of R$190,119, was withheld and paid in December 2023.

Furthermore, the interest on own capital declared herein was attributed to the minimum mandatory dividend for the 2023 fiscal year and deducted from the amount declared by the Ordinary General Meeting, to be held in 2024, in accordance with statutory and legal provisions. (Note 25.2).

1.2.8.Tax reform consumption

On December 20, 2023, Constitutional Amendment (“EC”) no. 132 was enacted, which establishes the Tax Reform (“Reform”) on consumption. Several topics, including the rates of new taxes, are still pending regulation via infraconstitutional legislation, in particular Complementary Laws (“LC”), which must be forwarded for evaluation by the National Congress within 180 days.

The Reform model is based on a VAT (Value Added Tax) divided into two competences (“dual VAT”), one federal (Contribution on Goods and Services - CBS) and one subnational (Tax on Goods and Services - IBS), which will replace the PIS, COFINS, ICMS and ISS taxes.

A Selective Tax (“IS”) was also created – under federal jurisdiction, which will apply to the production, extraction, commercialization or import of goods and services that are harmful to health and the environment, under the terms of LC.

There will be a transition period between the years 2026 and 2033, in which the two tax systems – old and new – will coexist. The impacts of the Reform on the calculation of the aforementioned taxes, from the beginning of the transition period, will only be fully known upon effective regulation via infraconstitutional legislation. Consequently, there is no effect of the Reform on the financial statements as of December 31, 2023.

1.2.9.Forestry assets acquisition

On December 23, 2023, the Company entered into a purchase and sale agreements for the acquisition of 100% of the share capital of the companies Timber VII SPE S.A. and Timber XX SPE S.A., owned by BTG Pactual Timberland Investment Group, LLC.

The price to be paid in cash for these acquisitions is R$1,826,000 and is subject to usual adjustments in operations of this nature. Additionally, the price will be converted to dollars if the closing occurs after March 31, 2024. This transaction is subject to the approval of the Brazilian antitrust authorities (“CADE”) and other usual conditions precedent for this type of deal. The transaction will be accounted for once the conditions for closing are fulfilled.

BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2023
BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS
BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS	2. BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS The Company’s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and disclose all the applicable significant information related to the financial statements, which is consistent with the information utilized by Management in the performance of its duties. The Company’s consolidated financial statements are expressed in thousands of Brazilian Reais (“R$”), as well as the amounts of other currencies disclosed in the financial statements, when applicable, were also expressed in thousands, unless otherwise stated. The preparation of consolidated financial statements requires Management to make judgments, use estimates and adopt assumptions in the process of applying accounting practices, which can affect the disclosed amounts of revenue, expenses, assets and liabilities, including contingent liabilities. However, the uncertainty inherent in these judgements, assumptions and estimates could result in material adjustments to the carrying amounts of certain assets and liabilities in future periods. The accounting practices requiring a higher level of judgment, and those which are more complex, as well as areas in which assumptions and estimates are significant, are disclosed in Note 3.2.34. The consolidated financial statements were prepared on a historical costs basis, considering the historical cost as a value basis and adjusted to reflect the attributed cost of land and buildings on the date of transition to IFRS Accounting Standards, except for the following material items recognized: (i) Derivative and non-derivative financial instruments measured at fair value; (ii) Share-based payments and employee benefits measured at fair value; and (iii) Biological assets measured at fair value; The material accounting policies applied to the preparation of these consolidated financial statements are presented in Note 3. The consolidated financial statements were prepared based on the going concern assumption.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF MATERIAL ACCOUNTING POLICIES The consolidated financial statements were prepared based on the information of Suzano and its subsidiaries on the same base date (except for associates Ensyn and Spinnova), as well as in accordance with consistent accounting policies and practices. The accounting policies have been consistently applied to all of the consolidated companies. There was no change in the policies and methods for calculating estimates, except for the new accounting policies presented in Note 3.1, adopted from January 1, 2023. 3.1.New accounting policies and changes in accounting policies adopted The new standards and interpretations issued, until the issuance of the Company’s consolidated financial statements, are described below. 3.1.1.Amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements – Disclosure of Accounting Policies (applicable for annual periods beginning on/or after January 1, 2023) The amendments change the requirements in IAS 1 with regard to the disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence the decisions that the primary users of the financial statements make on the basis of those financial statements. The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions is immaterial, and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material. The Company assessed the content of this pronouncement and did not identify any impacts. 3.1.2.Amendments to IAS 8 Definition of Accounting Estimates (applicable for annual periods beginning on/or after January 1, 2023) The amendments replace the definition of a change in accounting estimates with a definition of accounting estimates. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty”. The definition of a change in accounting estimates was deleted. However, the Board retained the concept of changes in accounting estimates in the Standard through the following clarifications: (i)A change in accounting estimates that results from new information or new developments does not constitute the correction of an error (ii)The effects of a change in an input or a measurement technique used to develop an accounting estimate represent changes in accounting estimates if they do not result from the correction of prior period errors The Company assessed the content of this pronouncement and did not identify any impacts. 3.1.3.Amendments to IAS 12 – Deferred tax related to assets and liabilities arising from a single transaction (applicable for annual periods beginning on/or after January 1, 2023) The amendments introduce a further exception to the initial recognition exemption. Under the amendments, an entity may not apply the initial recognition exemption for transactions that give rise to equal taxable and deductible temporary differences. Depending on the applicable tax law, equal taxable and deductible temporary differences may arise from the initial recognition of an asset and liability in a transaction that is not a business combination and affects neither the accounting nor the taxable profit. For example, this may arise upon the recognition of a lease liability and the corresponding right-of-use asset, applying IFRS 16 at the commencement date of a lease. Following the amendments to IAS 12, an entity is required to recognize the related deferred tax asset and liability, with the recognition of any deferred tax asset being subject to the recoverability criteria in IAS 12. The amendments apply to transactions that occur on or after the beginning of the earliest comparative period presented. In addition, at the beginning of the earliest comparative period, an entity recognized: (i)A deferred tax asset (to the extent that it is probable that taxable profits will be available against which the deductible temporary difference can be utilized) and a deferred tax liability for all deductible and taxable temporary differences associated with: •Right-of-use assets and lease liabilities; and •Decommissioning, restoration and similar liabilities and the corresponding amounts recognized as part of the cost of the related asset. (ii)The cumulative effect of initially applying the amendments as an adjustment to the opening balance of retained earnings (or another component of equity, as appropriate) at that date. The Company assessed the content of this pronouncement and did not identify any impacts. 3.1.4.Amendment to IAS 12 – Taxes on Profit – International Tax Reform – Pillar Two Model Rules In December 2021, the Organisation for Economic Co-operation and Development (“OECD”) released of the Pillar Two model, to reform international corporate taxation to ensure that multinational economic groups, covered by such regulations, contribute an effective minimum tax at the rate 15% on profit. Each country's effective profit tax rate, as calculated by this model, is called the GloBE (Global Anti-Base Erosion Rules) effective tax rate. These rules await approval in the local legislation of each country. In May 2023, the International Accounting Standards Board issued scope changes to IAS 12 - Income Taxes, aiming to grant a temporary exemption in the accounting for deferred taxes resulting from enacted or substantially enacted legislation relating to the implementation of OECD Pillar Two. The Company and its subsidiaries are currently in the process of evaluating the impact on the implementation of Pillar Two rules and the calculation of GloBE revenue. 3.2.Accounting policies adopted 3.2.1.Consolidated financial statements The consolidated financial statements were prepared based on the financial information of Suzano and its subsidiaries in the year ended December 31, 2023 (except for associates Ensyn and Spinnova), and in accordance with consistent accounting practices and policies. The Company consolidates all subsidiaries over which it has direct or indirect control, that is, when it is exposed or has rights to variable returns on the basis of its investment with the subsidiary, and has the capacity and ability to direct the relevant activities of the subsidiary. Additionally, all transactions and balances between Suzano and its subsidiaries, associates and joint ventures are eliminated in the consolidated financial statements, as well as unrealized gains or losses arising from these transactions, net of tax effects. Non-controlling interests are highlighted. 3.2.2.Subsidiaries These include all entities for which the Company has the power to govern the financial and operating policies, generally through a majority of voting rights. The Company controls an entity when the Company is exposed to, or has rights to, variable returns on its investment in the investee, and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control is obtained and de-consolidated from the date on which control ceases. 3.2.3.Joint operations These include all entities for which the Company maintains contractually established control over its economic activity, and exists only when the strategic, financial and operational decisions regarding the activity requiring the unanimous consent of the parties sharing control. In the consolidated financial statements, the balance of assets, liabilities, revenue and expenses are recognized proportionally to the interest in joint operations. 3.2.4.Associated and joint ventures These include all entities initially recognized at cost and adjusted thereafter for the equity method, being increased or reduced from its interest in the investee’s income after the acquisition date. In the investments in associates, the Company must have significant influence, which means the power to participate in the financial and operating policy decisions of the investee, without having control or joint control over those policies. In investments in joint ventures, there is a contractually agreed sharing of control through an arrangement, which exists only when decisions about the relevant activities requiring the unanimous consent of the parties sharing control. In relation to the associates Ensyn and Spinnova, the equity is measured based on the latest available information and does not have a material impact on the consolidated financial statements and, if any significant event had occurred up to December 31, 2023, it would be adjusted in the consolidated financial statements. 3.2.5.Translation of financial statements into the functional and presentation currency The Company defined that, for all its wholly owned subsidiaries, the functional and presentation currency is the Brazilian Real, except for investments in associates abroad related to Ensyn Corporation, F&E Technologies LLC, Spinnova, Woodspin and Celluforce, with functional currencies other than the Real, the accumulated gains or losses of which affect the conversion of the financial statements, which are recorded in other comprehensive income, in equity. The individual financial information of each of the subsidiaries, included in the consolidated financial statement, are prepared in the local currency in which the subsidiary operates and are translated into the Company’s functional and presentation currency. 3.2.5.1.Transactions and balances in foreign currency These are translated using the following criteria: (i)Monetary assets and liabilities are translated at the exchange rate in effect at year-end; (ii)Non-monetary assets and liabilities are translated at the historical rate of the transaction; (iii)Revenue and expenses are translated based on monthly average rate; and (iv)The cumulative effects of gains or losses upon translation are recognized in the other comprehensive income. The cumulative translation adjustment (“CTA”) arising from the translation of a foreign operation previously recognized in other comprehensive income are reclassified from equity to profit or loss at the disposal of the operations. The total or partial disposal of interest in wholly-owned subsidiaries occurs through sale or dissolution, of all or part of operation. 3.2.6.Hyperinflationary economies Entities based in Argentina, a country considered to have a hyperinflationary economy, are subject to the requirements of IAS 29 - Financial Reporting in Hyperinflationary Economies. Non-monetary items, as well as income and expenses, are adjusted by the changes in the inflation index between the initial recognition and the closing date, so the balances are stated at their current value. However, the Company’s wholly-owned subsidiary, based in Argentina, has the Real as its functional currency, and therefore is not considered an entity with a hyperinflationary currency, and does not present its individual financial statements in accordance with IAS 29 - Financial Reporting in Hyperinflationary Economies. The financial statements are presented at historical cost. 3.2.7.Business combinations These are accounted for using the acquisition method when control is transferred to the acquirer. The cost of an acquisition is the sum of the consideration paid, evaluated based on the fair value at the acquisition date, and the amount of any non-controlling interest in the acquiree. For each business combination, the Company recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquirer’s net assets. The costs directly attributable to the acquisition are recorded as expenses when they are incurred, except for costs related to the issuance of debt instruments or equity instruments, which are presented as reductions in debt or equity, respectively. In a business combination, assets acquired and liabilities assumed are evaluated in order to classify and allocate them, assessing the terms of the agreement, the economic circumstances and other conditions at the acquisition date. Goodwill is initially measured as the excess of the consideration paid over the fair value of the net assets acquired. After initial recognition, goodwill is measured at cost, net of any accumulated impairment losses. For the purpose of impairment testing, the goodwill recognized in a business combination, as from the acquisition date, is allocated to each of the Company’s cash generating units. Gains on an advantageous purchase are recognized immediately in the result. The borrowing costs are recorded in the income statement as they are incurred. Contingent liabilities related to tax, civil and labor, classified in the acquired company as possible and remote risks, are recognized by the acquirer at their fair values. Transactions involving the acquisition of shares with shared control over the net assets traded are evaluated in accordance with the complementary guidance to IFRS 3 - Business Combinations, IFRS 11 and IAS 28 - Investments in Associates and Joint Ventures to evaluate initial recognition criteria. For the investments defined based on the equity method, investments are initially recognized at cost. The carrying amount of the investment is adjusted for the recognition of changes in the Company's share of the acquirer's Shareholders' equity as at the acquisition date. Goodwill is measured and segregated from the carrying amount of the investment. Other intangible assets identified in the transaction shall be allocated in proportion to the interest acquired by the Company, based on the difference between the carrying amounts recorded in the acquired entity and its fair value assets, which may be amortized. 3.2.8.Segment information An operating segment is a component of the Company that carries out business activities from which it can obtain revenue and incur expenses. The operating segments reflect how the Company’s management reviews the financial information used to make decisions. The Company’s management has identified two reportable segments, which meet the quantitative and qualitative disclosure requirements. The segments identified for disclosure mainly represent sales channels. 3.2.9.Cash and cash equivalents Include cash on hand, bank deposits and highly liquid short-term investments with maturities, upon acquisition, of 90 days or less, which are readily convertible into known amounts of cash and subject to an insignificant risk of changes in value. 3.2.10.Financial instruments 3.2.10.1.Classification Financial instruments are classified based on the purpose for which the financial instruments were acquired, as set forth below: (i)Amortized cost; (ii)Fair value through other comprehensive income; and (iii)Fair value through profit or loss. Regular purchases and sales of financial assets are recognized on the trade date, meaning the date on which the Company commits to purchase or sell the asset. Financial instruments are derecognized when the rights to receive cash flow from the investments have expired or have been transferred, substantially, all of the risks and rewards of ownership. 3.2.10.1.1.Financial instruments measured at amortized cost Financial instruments held by the Company: (i) in order to receive their contractual cash flow and not to sell to realize a profit or loss; and (ii) whose contractual terms give rise, on specified dates, to cash flow that exclusively represents payments of principal and interest on the principal amount outstanding. Any changes are recognized under financial income (expenses) in the income statement. It includes the balance of cash and cash equivalents, trade accounts receivable, dividends receivable and other assets, classified as financial assets and the balances of suppliers, loans, financing and debentures, lease payables, accounts payable for the acquisition of assets and subsidiaries, , dividends and interest on own capital payable and other liabilities, all of which are classified as financial liabilities. 3.2.10.1.2.Financial instruments at fair value through other comprehensive income Financial instruments at fair value through other comprehensive income are financial assets held by the Company: (i) either to receive their contractual cash flow through sale with the realization of a profit or loss; and (ii) whose contractual terms give rise, on specified dates, to cash flows constituting, exclusively, repayments of principal and interest on the principal amount outstanding. In addition, this category includes investments in equity instruments where, upon initial recognition, the Company elected to present subsequent changes in its fair value within other comprehensive income. Any changes are recognized under net financial income (expenses) in the income statement, except for the fair value of investments in equity instruments, which are recognized in other comprehensive income. Includes the balance presented in Note 14.1 as “Other investments evaluated at fair value through other comprehensive income. 3.2.10.1.3.Financial instruments at fair value through profit or loss Financial instruments at fair value through profit or loss are either designated in this category or not classified in any of the other categories. Any changes are recognized within financial income (expenses) in the income statement for non-derivative financial instruments and for financial derivative instruments within income from derivative financial instruments. This category includes the balance of marketable securities, classified as financial assets financial and derivative financial instruments, including embedded derivatives, stock options, classified as financial assets and liabilities. 3.2.10.2.Impairment of financial assets 3.2.10.2.1.Financial instruments measured at amortized cost Annually, the Company assesses whether there is evidence that a financial asset is impaired. A financial is impaired only if there is evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset, and that loss event has an impact on the estimated future cash flow of the financial asset that can be estimated reliably. The criteria the Company uses to determine whether there is evidence of an impairment loss includes: (i)Significant financial difficulty of the issuer or debtor; (ii)Defaults on or late payment of interest or principal under the agreement; (iii)Where the Company, for economic or legal reasons relating to the borrower’s financial difficulty, grants to the borrower a concession that a lender would not otherwise consider; (iv)It becomes probable that the borrower will enter bankruptcy or other financial reorganization; (v)The disappearance of an active market for that financial asset because of financial difficulties; and (vi)Observable data indicating a measurable decrease in the estimated future cash flow from a portfolio of financial assets after the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio. The amount of an impairment loss is measured at the difference between the carrying amount of the asset and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate. If the financial asset is impaired, the carrying amount of the asset is reduced and a loss is recognized in the income statement. If, in a subsequent remeasurement, if there is an improvement in the asset rating, such as an improvement in the debtor’s credit rating, the reversal of the previously recognized impairment loss is recognized in the income statement. 3.2.10.2.2.Financial assets at fair value through other comprehensive income The Company periodically evaluates, when measuring fair value, whether there is evidence that a financial asset is impaired. For such financial assets, a significant or prolonged decrease in the fair value of the security below its cost is evidence that the assets are impaired. If any such evidence exists, an impairment loss measured at the difference between the acquisition cost and the current fair value, less any loss previously recognized in other comprehensive income, shall be recognized in the income statement. 3.2.11.Derivative financial instruments and hedging activities Derivative financial instruments are recognized at fair value on the date on which the derivative agreement is entered into and are subsequently remeasured at fair value. Changes in fair value are recorded within the results of derivative financial instruments in the income statement. Embedded derivatives in non-derivative main contracts are required to be separated when their risks and characteristics are not closely related to those of the respective main contracts, and these are not measured at fair value through profit or loss. Non-option embedded derivatives are separated from the respective main contracts in accordance with the stated or implied substantive terms, so they have a zero fair value upon initial recognition. 3.2.12.Trade accounts receivable These are recorded at their invoiced amounts, in the normal course of the Company´s business, adjusted for exchange rate variations where denominated in foreign currency and, if applicable, net of expected credit losses. The Company applies an aging-based provision matrix with appropriate groupings for its portfolio. When necessary, based on individual analyses, the provision for expected losses is supplemented. The Company examines the maturity of receivables on a monthly basis and identifies those customers with overdue balances, assessing the specific situation of each client, including the risk of loss, the existence of contracted insurance, letters of credit, collateral and the customer’s financial situation. In the event of default, collection attempts are made, which include direct contact with customers and collection efforts through third parties. Should these efforts prove unsuccessful, legal measures are considered, and expected credit losses are recognized. The notes are written off from the credit expected loss when Management considers that they are not recoverable after taking all appropriate measures to collect them. 3.2.13.Inventories These are evaluated at the average acquisition or formation cost of the finished products, net of recoverable taxes, not exceeding their net realizable value. Finished products and work-in-process consist of raw materials, direct labor, production costs, freight, storage and general production expenses, which are related to the processes required to make the products available for sale. Imports in transit are presented at the cost incurred up to the balance sheet date. Raw materials derived from biological assets are measured based on their fair value, less costs to sell at the point of harvest and freight costs. Provisions for obsolescence, adjustments to net realizable value, impaired items and slow-moving inventories are recorded when necessary. Usual production losses are recorded and are an integral part of the production costs for the respective month, whereas unusual losses, if any, are recorded directly as part of cost of sales. 3.2.14.Non-current assets held for sale These are measured at their carrying amount or fair value less costs to sell, whichever is lower, and are not depreciated or amortized. Such items are only classified in this account when the sale is highly probable and the assets are available for immediate sale in their current condition. 3.2.15.Biological assets The biological assets for production (mature and immature forests) are reforested eucalyptus forests, with a formation cycle between planting and harvest from 6 to 7 years, measured at fair value. Depletion is measured based on the amount of biological assets depleted (harvested) and measured at fair value at the time of harvest. For the determination of the fair value, the income approach technique was applied, using the discounted cash flow model, according to the projected productivity cycle for these assets. The assumptions used to measure the fair value are reviewed every six months, as the Company considers that this interval is sufficient to ensure no significant gaps in the fair value balance of biological assets booked. Significant assumptions are presented in Note 13. The gain or loss on the assessment of fair value is recognized in operating income (expenses), net. Biological assets in the process of formation under the age of 2 (two) years are recorded for at their formation cost. Areas of permanent environmental preservation are not recorded, because these are not characterized as biological assets, and are not included in the measurement at fair value. 3.2.16.Property, plant and equipment Stated at their cost of acquisition, formation, construction or dismantling, net of recoverable taxes. This cost is deducted from the accumulated depreciation and accumulated impairment losses, when incurred, at the higher of the value in use or the proceeds from sale less cost to sell. The borrowing costs are capitalized as a component of construction in progress, at the weighted average rate of the Company’s debt at the capitalization date, adjusted for the equalization of exchange rate effects. Depreciation is recognized based on the estimated economic useful life of each asset on a straight-line basis. The estimated useful lives, residual values and depreciation methods are reviewed annually, and the effects of any changes in estimates are accounted for prospectively. Land is not depreciated. The Company performs an annual analysis of impairment indicators of property, plant and equipment. Impairment for losses on property, plant and equipment are only recognized if the related cash-generating unit is devalued, or if the asset’s recoverable amount is less than its carrying amount. The recoverable amount of the asset or cash-generating unit is the higher of its value in use, and its fair value less costs to sell. The cost of major renovations is capitalized if the future economic benefits exceed the performance standards initially estimated for the asset and are then depreciated over the remaining useful life of the related asset. Repairs and maintenance are expensed as incurred. Gains and losses on disposals of property, plant and equipment are measured by comparing the proceeds with the book value and are recognized as other operating income (expenses), net, at the disposal date. 3.2.17.Leases A contract is, or contains, a lease if the right to control the use of an identified asset for a period of time is transferred in exchange for consideration, for which it is necessary to assess whether: (i)The contract involves the use of an identifiable asset, which may be explicit or implicit, and may be physically distinct or represent almost the entire capacity of a physically distinct asset. If the supplier has a substantial right to replace the asset, then the asset is not identified; (ii)The Company has the right to obtain substantially all the economic benefits from the use of the asset during the contract period; and (iii)The Company has the right to direct the use of the asset, meaning the Company has the right to decide to change how and for what purpose the asset is used, if: •It has the right to operate the asset, or •It designed the asset, in a way that predetermines how and for what purpose it will be used. At the beginning of the contract, the Company recognizes a right-of-use asset and a lease liability that represents the obligation to make payments related to the asset underlying the lease. The right-to-use asset is initially measured at cost, which includes the initial amount of the lease liability adjusted for any payments made up to the contract start date, plus any direct initial costs incurred, and estimated costs of disassembly, removal, or restoration of the asset in the place where it is located, less any incentives received. The right-to-use asset is subsequently depreciated using the straight-line method from the start date to the end of the useful life of the right to use, or the end of the lease term, whichever is shorter. Except for land agreements that are automatically extended for the same period through a notification to the lessor, other agreements are not allowed automatic renewals for an indefinite period, since both parties have the right to terminate the agreements. The lease liability is initially measured at the present value of the payments not made, less the incremental loan rate. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change: (i)In future payments resulting from a change in index or rate; (ii)In the estimate of the expected amount to be paid, at the guaranteed residual value; or (iii)In the assessment of whether the Company will exercise the purchase option, extension or termination. When the lease liability is remeasured, the corresponding adjustment amount is recorded in the book value of the right-of-use asset, or in the statement of profit and loss, if the book value of the right-of-use asset has been reduced to zero. The Company does not have lease agreements with clauses imposing: (i)Variable payments that are based on the performance of the leased assets; (ii)Guarantees of residual value; and (iii)Restrictions, such as, for example, an obligation to maintain financial ratios. Short-term or low-value contracts which are exempt from these standards are contracts where the individual value of the assets is lower than US$5, and for which the maturity date is shorter than 12 months, are expensed as incurred. 3.2.18.Intangible assets These are measured at cost at the time when they are initially recognized. The cost of intangible assets acquired during a business combination corresponds to the fair value at the acquisition date. After initial recognition, intangible assets are presented at cost less accumulated amortization and impairment losses, when applicable. The useful life of intangible assets are assessed as finite or indefinite. Intangible assets with a finite life are amortized over the economically useful lives and reviewed for impairment whenever there is an indication that their carrying values may be impaired. The amortization period and method for intangible assets with finite useful lives are reviewed at least at the end of each fiscal year. The amortization of intangible assets with finite useful lives is recognized in the statement of income as an expense related to its use, and in line with the economically useful life of the intangible asset. Intangible assets with indefinite useful lives are not amortized, but are tested annually for impairment losses, individually or at the CGU level. The allocation is made to the CGU or group of CGUs that represents the lowest level within the entity for which goodwill is monitored for management’s internal purposes, that has benefited from the business combination. The Company mainly records in this subgroup goodwill for expected future profitability (goodwill) and easement of passage. This testing involved the adoption of assumptions and judgments, disclosed in Note 16. 3.2.19.Current and deferred income tax and social contribution and uncertainty over income tax treatments (IFRIC 23) Income taxes include income tax and social contribution on net income, current and deferred. These taxes are recognized in the income statement, except to the extent that they relate to items recognized directly in equity. In this case, they are recognized in equity under other reserves. The current charge is calculated based on the tax laws enacted in the countries in which the Company and its subsidiaries and affiliates operate and generate taxable income. Management periodically evaluates the positions assumed in the income tax returns with respect to situations in which the applicable tax regulations give rise to interpretations and establishes provisions, when appropriate, based on the amounts that must be paid to the tax authorities. Deferred tax and contribution liabilities are recognized on temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred taxes and contributions are determined based on the rates in force on the balance sheet date, and which must be applied when they are realized or settled. Deferred tax assets and contributions are recognized to the extent that it is probable that future taxable profits will be available for use to offset temporary differences, based on the projections of future results prepared and based on internal assumptions and future economic scenarios that may, therefore, undergo changes. The projection for the realization of deferred tax assets was prepared based on Management’s estimates that are based on significant judgments and assumptions relating to net average pulp and paper prices, and the transfer prices with the subsidiaries based in Austria. However, there are other assumptions that are not under the control of the Company, such as inflation rates, exchange rates, pulp prices in the international market, and other economic uncertainties in Brazil, which mean that future results may differ from those considered in the preparation of the consolidated projection. Deferred income tax and social contribution are recognized on temporary differences arising from investments in subsidiaries and associates, except when the timing of the reversal of temporary differences is controlled by the Company, and if it is probable that the temporary differences will not be reversed in the foreseeable future. Deferred tax and contribution assets and liabilities are offset and presented at their net amounts in the balance sheet whenever they are related to the same legal entity and the same tax authority. 3.2.20.Trade accounts payable Corresponds to the obligations payable for goods or services acquired in the normal course of the Company´s business, recognized at fair value and subsequently measured at amortized cost using the effective interest rate method, adjusted to present value, plus exchange rate variations when denominated in foreign currency. 3.2.21.Loans, financing and debentures Loans and financing are initially recognized at fair value, net of costs incurred in the transaction, and are subsequently stated at amortized cost. Any difference between the amounts raised and settled is recognized in the statement of income during the period in which the loans and financing are outstanding, using the effective tax rate method. General or specific borrowing costs, directly attributable to the acquisition, construction or production of a qualifying asset, are capitalized as a part of the cost of that asset when it is probable that they will provide future economic benefits for the entity, and that such cost can be measured with reliability. The Company does not have specific loans to obtain qualifying assets. Other loan costs are recognized as expenses in the period during which they are incurred. 3.2.22.Provisions, contingent assets and liabilities Contingent assets are not recorded. Recognition is only performed when there are guarantees or favorable judicial decisions and the amounts of these can be measured reliably. Contingent assets for which such conditions are not met are only disclosed in the notes to the financial statements when their amounts are material. Provisions are made to the extent that the Company expects that is probable that it will disburse cash, and the amount can be reliably estimated. Tax, civil, environmental and labor proceedings are accrued when losses are assessed as probable, and the amounts involved can be measured reliably, being recorded net of judicial deposits, under “provisions for judicial liabilities”. When the expectation of loss is possible, a description of the processes and amounts involved is disclosed in the notes to the financial statements. Contingent liabilities assessed as representing remote losses are neither accrued nor disclosed. Contingent liabilities arising from business combinations are recognized if they arise from a present obligation as a result of from past events, and if their fair values can be measured reliably, and are subsequently measured at the higher of: (i) The amount that would be recognized in accordance with the accounting policy for the provisions above that comply with IAS 37; or (ii) The amount initially recognized less, where appropriate, revenue recognized in accordance with the accounting treatment of revenue from customer contracts under IFRS 15. Principal and penalties amounts related to Tax, civil, environmental and labor proceedings are under other operating income and expenses and the interest is recognized in the net financial result. The realization of provisions for judicial liabilities and contingent liabilities arising from business combinations, with possible and remote probability of loss, are recognized under other operating income and expenses or cash depending on the court decision. 3.2.23.Asset retirement obligations These primarily relate to future costs for the decommissioning of industrial landfill sites and related assets. A provision is recorded as a long-term obligation within property, plant and equipment. The provision and the corresponding property, plant and equipment are initially recorded at fair value, based on the present value of the estimated cash flow for future cash payments discounted at an adjusted risk-free rate. The long-term obligation accrues interest using a long-term discount rate, recognized under other liabilities. Property, plant and equipment are depreciated on a straight-line basis over the useful life of the principal, against cost of sales in the income statement. 3.2.24.Share based payments The Company’s executives and managers receive their compensation partially through share-based payment plans to be settled in cash and shares, or alternatively in cash only. Plan-related expenses are recognized in the income statement as a corresponding entry within financial liabilities during the vesting period when the services will be rendered. The financial liability is measured at its fair value on every balance sheet date, and its variations are recorded in the income statement as administrative expenses. At the option exercise date, if such options are exercised by the executive in order to receive shares in the Company, financial liabilities are reclassified under stock options granted in shareholders’ equity. In the case of options exercised in cash, the Company settles the related financial liability in favor of the Company’s executives. 3.2.25.Employee benefits The Company offers benefits through a supplementary contribution plan to all employees, as well as medical assistance and life insurance for a determined group of former employees, and for the latter two benefits an annual actuarial appraisal is prepared by an independent actuary, and are reviewed by Management. The respective impact is recognized in employee benefit plans. Actuarial gains and losses are recognized in other reserves when incurred. The interest incurred, resulting from changes in the present value of the actuarial liability, is recorded in the income statement within financial expenses. 3.2.26.Other assets and liabilities, current and non-current Assets are recognized only when it is probable that the economic benefit associated with the transaction will flow to the entity, and its cost or value can be measured reliably. A liability is recognized when the Company has a legal or constructive obligation arising from a past event, and it is probable that an economic resource will be required to settle this liability. 3.2.27.Government grants and assistance Government grants and assistance are recognized at fair value when it is reasonably certain that the conditions established by the granting Governmental Authority were observed, and that these subsidies will be obtained. These are recorded as deductions expenses in the income statement for the period of enjoyment of the benefit, and subsequently allocated to the tax incentives reserve under shareholders’ equity, when applicable. 3.2.28.Dividends and interest on own capital The distribution of dividends or interest on own capital is recognized as a liability, calculated based on the Corporate Law, the bylaws and the Company's Dividend Policy, which establishes that the minimum annual dividend is the lower of: (i) 25% of adjusted net income, or (ii) 10% the consolidated operating cash flow for the year, provided they are declared before the end of the year. Any portion in excess of the minimum mandatory dividends, if declared after the balance sheet date, must be recorded as part of the additional dividends proposed in shareholders' equity, until approved by the shareholders at a General Meeting. After approval, the reclassification to current liabilities is made. The tax benefit of interest on own capital is recognized in the income statement under income tax. 3.2.29.Share capital Common shares are classified in shareholders’ equity. Incremental costs directly attributable to a public offer are stated in shareholders’ equity as a deduction from the amount raised, net of taxes. 3.2.30.Revenue recognition Revenue from contracts with customers is recognized at the time when control of the products is transferred to customers, represented by the ability to determine the use of products and obtain substantially all the remaining benefits from the products. The Company follows the five-step model: (i) identification of contracts with customers; (ii) identification of performance obligations under the contracts; (iii) determining the transaction price; (iv) allocation of the transaction price to the performance obligations provided for in the contracts; and (v) recognition of revenue when the performance obligations have been met. For the Pulp operating segment, revenue recognition occurs when control is transferred to the buyer who assumes the remaining benefits of the asset and is based on the parameters provided by: (i) International Commercial Terms (“Incoterms”), when destined for the foreign market; and (ii) lead times, when destined for the internal market. For the operating segment Paper and Consumer Goods, revenue recognition occurs when control is transferred to the buyer who assumes the remaining benefits of the asset and is based on the parameters provided by: (i) the corresponding International Commercial Terms (“Incoterms”); and (ii) lead times, when destined for the external and internal markets. Revenue is measured at the fair value of the consideration received or receivable, net of taxes, returns, rebates and discounts, and recognized in accordance with the accruals basis of accounting, when the amount can be reliably measured. Accumulated experience is used to estimate and provide for rebates and discounts, using the expected value method, and revenue is only recognized to the extent that it is highly unlikely that a significant reversal will occur. A provision for reimbursement (included in trade accounts receivable) is recognized for expected rebates and discounts payable to customers in relation to sales made until the end of the reporting period. No significant element of financing is deemed to be present, as sales are made with short credit terms. 3.2.31.Financial income and expenses Includes interest income on financial assets, at the effective interest rate, which includes the amortization of funding raising costs, gains and losses on derivative financial instruments, interest on loans and financing, exchange variations on loans and financing and other assets and financial liabilities and monetary variations on other assets and liabilities. Interest income and expenses are recognized in the statement of income using the effective interest method. 3.2.32.Earnings (losses) per share Basic earnings (losses) per share are calculated by dividing the net profit (loss) attributable to the holders of ordinary shares of the Company to the weighted average number of ordinary shares during the year. Diluted earnings per share are calculated by dividing the net profit attributable to the holders of ordinary shares of the Company by the weighted average number of ordinary shares during the year, plus the weighted average number of ordinary shares that would be issued when converting all potential dilutive ordinary shares into ordinary shares. 3.2.33.Employee and management profit sharing Employees are entitled to profit sharing based on certain goals agreed annually. For the Administrators, the statutory provisions proposed by the Board of Directors and approved by the shareholders are used as a basis. Provisions for participation are recognized in the payroll and charges against to administrative expenses during the period in which the targets are attained. 3.2.34.Material accounting judgments, estimates and assumptions As disclosed in Note 2, Management used judgments, estimates and accounting assumptions regarding the future, uncertainty in which may lead to results that require significant adjustments to the book values of certain assets, liabilities, income and expenses in future years, are presented below: •Control, significant influence and consolidation (Note 1.1); •Share-based payment transactions (Note 22); •Transfers to control for revenue recognition (Note 28); •Fair value of financial instruments (Note 4); •Annual analysis of the impairment of non-financial assets (Notes 15 and 16); •Expected credit losses in the accounts receivable (Note 7); •Net realizable value provision for inventory (Note 8); •Annual analyses of the recoverability of taxes (Notes 9 and 12); •Fair value of biological assets (Note 13); •Useful lives of property, plant and equipment and intangible assets with defined useful life (Notes 15 and 16); •Annual analysis recoverable amount of goodwill (Note 16); •Leases (Note 19); •Provision for legal liabilities (Note 20); and •Pension and post-employment plans (Note 21). The Company reviews the estimates and underlying assumptions used in its accounting estimates on an annual basis. Revisions to the accounting estimates are recognized in the period during which the estimates are revised. 3.3.Accounting policies not yet adopted The new and changed standards and interpretations issued, but not yet adopted up to December 31, 2023, are described below. The Company intends to adopt these new standards, changes and interpretations, if applicable, when they come into force, and does not expect them to have a material impact on the financial statements. 3.3.1.Amendments to IFRS 7 – Supplier financing agreements and IAS 7 Statement of cash flow (applicable for annual on/or after January 1, 2024) The changes now require the entity to disclose additional information about its supplier financing arrangements that allows users to assess the effects of these arrangements on the entity's liabilities and cash flows and on the entity's exposure to liquidity risk. The disclosures required by the amendments, which would allow understanding of the effects of these agreements on liabilities, cash flows and liquidity include: (a) the terms and conditions of the agreements; (b) at the beginning and end of the reporting period: (i) the carrying values, and the associated items presented in the entity's balance sheet, of the financial liabilities that form part of a supplier financing agreement; (ii) the carrying amounts, and associated items, of the financial liabilities disclosed in accordance with item (i) for which suppliers have already received payment from financiers; and (iii) the range of due dates. (c) the type and effect of non-cash changes in the carrying values of financial liabilities disclosed in accordance with paragraph (b)(i). 3.3.2.Amendments to IFRS 16 – Lease liability in a sale and leaseback transaction (applicable for annual on/or after January 1, 2024) The amendments specify that, in measuring the lease liability subsequent to the sale and leaseback, the seller-lessee determines ‘lease payments’ and ‘revised lease payments’ in a way that does not result in the sellerlessee recognising any amount of the gain or loss that relates to the right of use that it retains. 3.3.3.Amendments to IAS 1: Classification of liabilities as current or non-current and non-current liabilities with covenants (applicable for annual on/or after January 1, 2024) The changes improve the information provided by the entity when its right to defer the settlement of a liability for at least twelve months is subject to compliance with covenants. The classification of liabilities as current or non-current is based on compliance with covenants that are required on the reporting date or before that date, but never in relation to future events, in addition to requiring disclosure of information in the explanatory notes that allow Users of financial statements assess the risk that the liability may become due within twelve months, including the agreed conditions (for example, their nature and the date by which the entity must comply with them), whether the entity would have complied with the conditions based on its circumstances at the end of the reporting period and how the entity expects to comply with the conditions after the end of the reporting period. 3.3.4.Amendments to IAS 21: Absence of interchangeability (applicable for annual on/or after January 1, 2025) The changes will create requirements for the entity to apply a consistent approach to assessing whether a currency is exchangeable for another currency and, when it is not, to determining the appropriate exchange rate to use and the disclosures to be made. In this context, exchangeability is considered non-existent when, for a given purpose, the entity is unable to obtain more than an insignificant amount of foreign currency. To this end, the entity evaluates: (i)the timeliness of obtaining foreign currency; (ii)the practical ability (and not the intention) to obtain foreign currency; It is (iii)the available markets or exchange mechanisms that create enforceable rights and obligations.

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about financial instruments [abstract]

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

4. FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

4.1.Financial risks management

4.1.1.Overview

As a result of its activities, the Company is exposed to various financial risks, which are managed in accordance with the Financial Risk Management, Counterparty and Issuer Risk, Debt, Derivative and Cash Management Policies (“Financial Policies”) approved at the Board of Directors’ meeting.

The main factors considered by Management are:

(i)Liquidity;

(ii)Credit;

(iii)Exchange rate;

(iv)Interest rate;

(v)Fluctuations of commodity prices; and

(vi)Capital.

Management are focused on generating consistent and sustainable results over time, however, arising from external risk factors, unintended levels of volatility can influence the Company’s cash flow and income statement.

The Company has policies and procedures for managing market risk which aims to:

(i)Reduce, mitigate or transfer exposure with the aim of protecting the Company’s cash flow and assets against fluctuations in the market prices of raw material and products, exchange rates and interest rates, price and adjustment indices (“market risk”) or other assets or instruments traded in liquid or illiquid markets to which the value of the assets, liabilities and cash flow are exposed;

(ii)Establish limits and instruments with the purpose of allocating the Company’s cash to financial institutions falling within acceptable credit risk exposure parameters; and

(iii)Optimize the process of contracting financial instruments for protection against exposure to risk, drawing on natural hedges and correlations between the prices of different assets and markets, avoiding any waste of funds for inefficient transactions. All financial transactions entered into by the Company aim to protect existing exposures, with the assumption of new risks being prohibited, except those arising from its operating activities.

Hedging instruments are contracted exclusively for hedging purposes and are based on the following terms:

(i)Protection of cash flow against currency mismatches;

(ii)Protection of revenue flows for debt settlement and interest payments against fluctuations in interest rates and currencies; and

(iii)Protection against fluctuations in the prices of pulp and other supplies related to production.

The Treasury team is responsible for identification, evaluating and seeking protection against possible financial risks. The Board of Directors approves financial policies that establish the principles and guidance for global risk management, the areas involved in these activities, the use of derivative and non-derivative financial instruments, and the allocation of a cash surplus.

The Company only uses the most liquid financial instruments, and:

(i)Does not enter into leveraged transactions or other forms of embedded options that change the purpose of protection (hedge);

(ii)Does not have double-indexed debt or other forms of implied options; and

(iii)Does not have any transactions requiring margin deposits or other forms of collateral for counterparty credit risk.

The Company does not use hedge accounting. Therefore, gains and losses from derivative operations are fully recognized in the statements of income, as disclosed in Note 27.

4.1.2.Classification

All transactions with financial instruments are recognized for accounting purposes and classified in the following categories:


	Note	December 31, 2023	December 31, 2022

Assets
Amortized cost
Cash and cash equivalents	5	8,345,871	9,505,951
Trade accounts receivable	7	6,848,454	9,607,012
Dividends receivable	11		7,334
Other assets (1)		737,222	931,173
		15,931,547	20,051,470
Fair value through other comprehensive income
Investments - Celluforce	14.1	23,606	24,917
		23,606	24,917

Fair value through profit or loss
Derivative financial instruments	4.5.1	4,430,454	4,873,749
Marketable securities	6	13,267,286	7,965,742
		17,697,740	12,839,491
		33,652,893	32,915,878
Liabilities
Amortized cost
Trade accounts payable	17	5,572,219	6,206,570
Loans, financing and debentures	18.1	77,172,692	74,574,591
Lease liabilities	19.2	6,243,782	6,182,530
Liabilities for assets acquisitions and subsidiaries	23	187,187	2,062,322
Dividends and interest on own capital payable		1,316,528	5,094
Other liabilities (1)		116,716	147,920
		90,609,124	89,179,027
Fair value through profit or loss
Derivative financial instruments	4.5.1	2,436,072	4,846,795
		2,436,072	4,846,795
		93,045,196	94,025,822
		59,392,303	61,109,944

(1)Does not include items not classified as financial instruments.

4.1.3.Fair value of loans and financing

The financial instruments are recognized at their contractual amounts. Derivative financial instrument agreements, used exclusively for hedging purposes, are measured at fair value.

In order to determine the market values of financial instruments traded in public and liquid markets, the market closing prices were used at the balance sheet dates. The fair values of interest rate and index swaps are calculated based on the present value of their future cash flow, discounted at the current interest rates available for transactions with similar remaining terms to maturity. This calculation is based on the quotations of B3 and ANBIMA for interest rate transactions in Brazilian Reais, and the Federal Reserve Bank of New York and Bloomberg for Secured Overnight Financing Rate (“SOFR”) transactions. The fair value of forward or forward exchange agreements is determined using the forward exchange rates prevailing at the balance sheet dates, in accordance with B3 prices.

In order to determine the fair values of financial instruments traded in over-the-counter or unliquidated markets, a number of assumptions and methods based on normal market conditions and not for liquidation or forced sale, are used at each balance sheet date, including the use of option pricing models such as Garman-Kohlhagen, and estimates of discounted future cash flow. The fair value of agreements for the fixing of oil bunker prices is obtained based on the Platts index.

The results of the trading of financial instruments are recognized at the closing or contract dates, where the Company undertakes to buy or sell these instruments. The obligations arising from the contracting of financial instruments are eliminated from the financial statements only when these instruments expire or when the risks, obligations and rights arising therefrom are transferred.

The estimated fair values of loans and financing are set forth below:


	Yield used to discount/ methodology	December 31, 2023	December 31, 2022

Quoted in the secondary market
In foreign currency
Bonds	Secondary Market	38,703,379	40,309,832
Estimated present value
In foreign currency
Export credits (“Prepayment”)	SOFR	17,783,760	17,724,315
Assets Financing	SOFR	278,107	138,644
IFC - International Finance Corporation	SOFR	3,198,761
BNDES - Currency basket	DI 1		10,866
In local currency
BNDES – TJLP	DI 1	215,458	292,487
BNDES – TLP	DI 1	2,712,762	1,393,010
BNDES – Fixed	DI 1	3,903	21,656
BNDES – SELIC (“Special Settlement and Custody System”)	DI 1	686,798	575,129
Assets financing	DI 1	75,622
CRA (“Agribusiness Receivables Certificate”)	DI 1/IPCA		1,835,336
Debentures	DI 1	8,881,277	5,643,440
NCE (“Export Credit Notes”)	DI 1	110,396	1,384,396
NCR (“Rural Credit Notes”)	DI 1	2,228,806	294,089
Export credits (“Prepayment”)	DI 1	824,035	1,320,415
		75,703,064	70,943,615

The book values of loans and financing are disclosed in Note 18.

Management considers that, for its other financial assets and liabilities measured at amortized cost, their book values approximate their fair values, and therefore the fair value information is not being presented.

4.2.Liquidity risk management

The Company’s purpose is to maintain a strong cash and marketable securities position to meet its financial and operating commitments. The amount held in cash is intended to cover the expected outflows in the normal course of its operations, while the cash surplus is generally invested in highly liquid financial investments according to the Cash Management Policy.

The cash position is monitored by the Company’s Management, by means of management reports and participation in performance meetings with determined frequencies.

In the year ended December 31, 2023, the variations in cash and marketable securities were as expected, and the cash generated from operations was mostly used for investments and debt service.

All derivative financial instruments were traded over the counter and do not require deposit guarantee margins.

The remaining contractual maturities of financial liabilities are presented as of the balance sheet date.

The amounts as set forth below consist of undiscounted cash flow, and include interest payments and exchange rate variations, and therefore may not reconcile with the amounts disclosed in the balance sheet.


	December 31, 2023
	Book value	Undiscounted cash flow	Up to 1 year	1 - 2 years	2 - 5 years	More than 5 years

Liabilities
Trade accounts payable	5,572,219	5,572,219	5,572,219
Loans, financing and debentures	77,172,692	105,526,852	7,648,237	12,983,542	31,355,362	53,539,711
Lease liabilities	6,243,782	11,021,519	1,172,568	1,045,795	2,743,793	6,059,363
Liabilities for asset acquisitions and subsidiaries	187,187	215,891	94,948	18,314	87,520	15,109
Derivative financial instruments	2,436,072	2,801,258	66,433	1,278,953	1,191,014	264,858
Dividends and interest on own capital payable	1,316,528	1,316,528	1,316,528
Other liabilities	116,716	116,716	58,955	57,761
	93,045,196	126,570,983	15,929,888	15,384,365	35,377,689	59,879,041


	December 31, 2022
	Book value	Undiscounted cash flow	Up to 1 year	1 - 2 years	2 - 5 years	More than 5 years

Liabilities
Trade accounts payable	6,206,570	6,206,570	6,206,570
Loans, financing and debentures	74,574,591	105,341,912	6,823,274	7,899,772	39,476,527	51,142,339
Lease liabilities	6,182,530	11,053,487	1,050,947	992,379	2,668,855	6,341,306
Liabilities for asset acquisitions and subsidiaries	2,062,322	2,203,302	1,986,633	99,331	57,421	59,917
Derivative financial instruments	4,846,795	6,515,262	728,070	1,341,108	4,299,970	146,114
Dividends payable	5,094	5,094	5,094
Other liabilities	147,920	147,920	61,500	86,420
	94,025,822	131,473,547	16,862,088	10,419,010	46,502,773	57,689,676

4.3.Credit risk management

Related to the possibility of non-compliance with the counterparties’ commitments as part of a transaction. Credit risk is managed on a group basis and arises from cash equivalents, marketable securities, derivative financial instruments, bank deposits, Bank Deposit Certificates (“CDB”), fixed income box, repurchase agreements, letters of credit, insurance, receivable terms of customers, and advances to suppliers for new projects, among others.

4.3.1.Trade accounts receivable

The Company has commercial and credit policies aimed at mitigating any risks arising from defaults by its customers, mainly through contracting credit insurance policies, bank guarantees provided by first-tier banks, and collateral based on liquidity. Moreover, portfolio customers are subject to internal credit analysis aimed at assessing the risks regarding payment performance, both for exports and for domestic sales.

For customer credit assessment, the Company applies a matrix based on the analysis of qualitative and quantitative aspects to determine the individual credit limits to each customer according to the identified risks. Each analysis is submitted for approval according to an established hierarchy and, if applicable, for approval at a Management meeting and by the Credit Committee.

The risk classification of trade accounts receivable is set forth below:


	December 31, 2023	December 31, 2022

Low (1)	6,549,975	9,430,244
Average (2)	156,883	129,900
High (3)	173,558	67,977
	6,880,416	9,628,121

(1)Current and overdue up to 30 days.

(2)Overdue between 30 and 90 days.

(3)Overdue more than 90 days.

A portion of the amounts above does not consider the expected credit losses calculated based on the provision matrix of R$31,962 and R$21,109 as of December 31, 2023 and 2022, respectively.

4.3.2.Banks and financial institutions

The Company, in order to mitigate its credit risk, ensures its financial operations are diversified among banks, with a main focus on first-tier financial institutions classified as high-grade by the main risk rating agencies.

The book value of financial assets representing exposure to credit risk is set forth below:


	December 31, 2023	December 31, 2022

Cash and cash equivalents	8,345,871	9,505,951
Marketable securities	13,267,286	7,965,742
Derivative financial instruments (1)	4,199,982	4,833,330
	25,813,139	22,305,023

(1)Does not include the derivative embedded in a forest partnership agreement for the supply of standing wood, which is not a transaction with a financial institution.

The counterparties, mainly financial institutions, with whom the transactions are performed classified under cash and cash equivalents, marketable securities and derivatives financial instruments, are rated by the main ratings agencies. The risk ratings are set forth below:


	Cash and cash equivalents and marketable securities		Derivative financial instruments
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Risk rating (1)
AAA			878,241
AA-			1,007,537	47,681
A+			136,864	1,149,694
A			55,547	1,485,424
A-				1,095
brAAA	20,856,072	17,117,171	1,682,513	1,418,968
brAA+	511,589	1,173	439,280
brAA	6,565	133,030		730,468
brAA-	2,169	47
brA+		352
brA		17,595
brBBB-	3
brBB	1,132
brBB-	385	2,897
Others	235,242	199,428
	21,613,157	17,471,693	4,199,982	4,833,330

(1)We use the Brazilian Risk Ratings issued by the agencies Fitch Ratings, Standard & Poor’s and Moody’s.

4.4.Market risk management

The Company is exposed to several market risks, mainly related to fluctuations in exchange rate variations, interest rates, inflation rates and commodity prices that could affect its results and financial situation.

To mitigate the impacts, the Company has processes to monitor its exposure and policies that could support the implementation of risk management.

These policies establish the limits and the instruments to be implemented for the purpose of:

(i)Protecting cash flow due to currency mismatch;

(ii)Mitigating exposure to interest rates;

(iii)Reducing the impacts of fluctuations in commodity’s prices; and

(iv)Changes to debt indexes.

Market risk management involves the identification, assessment and implementation of the strategy, with the effective contracting of adequate financial instruments.

4.4.1.Exchange rate risk management

The fundraising, financing and currency hedging policies of the Company are guided by the fact that a substantial part of the net revenue arises from exports with prices negotiated in US Dollars, while a substantial part of the production costs are in Brazilian Reais. This structure allows the Company to enter into export financing arrangements in US Dollars, and to reconcile the financing payments with the cash flow of receivables from sales in foreign markets, using the international bond market as an important portion of its capital structure, and providing a natural cash hedge for these commitments.

Moreover, the Company enter into US Dollar sales transactions in the futures markets, including strategies involving options, to ensure attractive levels of operating margins for a portion of revenue. Such transactions are limited to a percentage of the net surplus of foreign currency over an 24-month time horizon, and therefore are matched to the availability of currency for sale in the short term. The Company’s Board of Directors approved the contracting of extraordinary hedge, in addition to the policy mentioned above, for investments in the Cerrado Project, with a term of up to 36 months as of November 2021, in an amount of up to US$1,000,000. On July 27, 2022, the Board of Directors approved the expansion of the program, increasing the maximum amount (notional) to US$1,500,000, maintaining the previously established deadline. In order to provide transparency on the hedge program for the Cerrado Project, since December 31, 2021 the Company has started to prominently disclose the respective contracted operations.

The assets and liabilities that are exposed to foreign currency, substantially in U.S. Dollars, are set forth below:


	December 31, 2023	December 31, 2022

Assets
Cash and cash equivalents	6,432,557	8,039,218
Marketable securities	7,378,277	4,510,652
Trade accounts receivable	5,049,609	7,612,768
Derivative financial instruments	3,070,594	3,393,785
	21,931,037	23,556,423

Liabilities
Trade accounts payable	(1,625,011)	(2,030,806)
Loans and financing	(61,304,673)	(61,216,140)
Liabilities for asset acquisitions and subsidiaries	(127,598)	(2,053,259)
Derivative financial instruments	(1,867,882)	(4,698,323)
	(64,925,164)	(69,998,528)
	(42,994,127)	(46,442,105)

4.4.1.1.Sensitivity analysis – foreign exchange rate exposure – except for derivative financial instruments

For market risk analysis, the Company uses scenarios to evaluate both its asset and liability positions in foreign currency, and the possible effects on its results. The probable scenario represents the amounts recognized, as they reflect the conversion into Brazilian Reais on the balance sheet date (R$ to U.S.$ = R$4.8413).

This analysis assumes that all other variables, particularly interest rates, remain constant. The other scenarios considered the depreciation of the Brazilian Real against the U.S. Dollar at the rates of 25% and 50% before taxes.

The following table set forth the potential impacts:


	December 31, 2023
	Effect on profit or loss
	Probable (base value)	Possible (25%)	Remote (50%)

Cash and cash equivalents	6,432,557	1,608,139	3,216,279
Marketable securities	7,378,277	1,844,569	3,689,139
Trade accounts receivable	5,049,609	1,262,402	2,524,805
Trade accounts payable	(1,625,011)	(406,253)	(812,506)
Loans and financing	(61,304,673)	(15,326,168)	(30,652,337)
Liabilities for asset acquisitions and subsidiaries	(127,598)	(31,900)	(63,799)

4.4.1.2.Sensitivity analysis – foreign exchange rate exposure – derivative financial instruments

The Company has sales operations in US$ in the futures markets, including strategies using options, to ensure attractive levels of operating margins for a portion of its revenue. These operations are limited to a percentage of the total exposure to US$ over a 24-month horizon, or to investments in the Cerrado Project, according to the extraordinary hedge described above, and are therefore pegged to the availability of ready-to-sell foreign exchange in the short term.

In addition to the transaction described above, the Company also taken out derivative instruments linked to the US$ and subject to exchange fluctuations, seeking to adjust the debt's currency indexation to the cash generation currency, as provided for in its financial policies.

For the calculation of the mark-to-market (“MtM”) price, the exchange rate of the last business day of the period is used. These market movements caused a positive impact on the mark-to-market position entered into by the Company.

This analysis below assumes that all other variables, particularly the interest rates, remain constant. The other scenarios considered the depreciation of the Brazilian Real against the US$ by 25% and 50%, before taxes, based on the base scenario on December 31, 2023.

The following table set out the possible impacts assuming these scenarios:


	December 31, 2023
	Effect on profit or loss
	Probable (base value)	Possible 25%	Remote 50%

Dollar/Real
Derivative financial instruments
Derivative options	1,968,337	(3,436,589)	(7,464,284)
Derivative swaps	(486,713)	(1,491,613)	(2,981,409)
Derivative Non-Deliverable Forward (‘NDF’) Contracts	162,776	(596,284)	(1,192,682)
Embedded derivatives	230,471	(122,510)	(245,021)
NDF parity derivatives (1)	100,362	(22,715)	(47,331)
Commodity Derivatives	19,149	(8,721)	(14,295)

Dollar/Euro
Derivative financial instruments
NDF parity derivatives (1)	100,362	(337,711)	(675,423)

(1)Long positions at US$/EUR parity in order to protect the Capex cash flow of the Cerrado Project against the appreciation of the Euro.

4.4.2.Interest rate risk management

Fluctuations in interest rates could increase or reduce the costs of new loans and existing contracted operations.

The Company is constantly looking for alternatives for the use of financial instruments in order to avoid negative impacts on its cash flow due to fluctuations in interest rates in Brazil or abroad.

On July 1, 2023, loan contracts (in the amount of R$15,566,016) and derivatives (in the amount of R$15,150,974) began to be indexed by Secured Overnight Financing Rate (“SOFR”) (and no longer by London Interbank Offered Rate (“LIBOR”)), adopted as the new reference interest rate by capital market. The change in the interest rate did not have a material impact on the balances presented in the loan and financing and derivative instrument categories.

4.4.2.1.Sensitivity analysis – exposure to interest rates – except for derivative financial instruments

For its market risk analysis, the Company uses scenarios to evaluate the sensitivity of changes in operations impacted by the following rates: Interbank Deposit Rate (“CDI”), Long Term Interest Rate (“TJLP”), Special System for Settlement and Custody (“SELIC”) and SOFR, which could impact the results.

The probable scenario represents the amounts already booked, as they reflect Management’s best estimates.

This analysis assumes that all other variables, particularly exchange rates, will remain constant. The other scenarios considered a depreciation of 25% and 50% in market interest rates.

The following table set forth the possible impacts assuming these scenarios:


	December 31, 2023
	Effect on profit or loss
	Probable	Possible (25%)	Remote (50%)

CDI/SELIC
Cash and cash equivalents	1,784,313	(56,429)	(112,858)
Marketable securities	5,889,009	(186,240)	(372,480)
Loans and financing	8,686,026	274,696	549,391
TJLP
Loans and financing	250,474	4,383	8,767
SOFR
Loans and financing	19,670,956	265,337	530,673

4.4.2.2.Sensitivity analysis – exposure to interest rates – derivative financial instruments

This analysis assumes that all other variables remain constant. The other scenarios considered a depreciation of 25% and 50% in market interest rates.

The following table sets out the possible impacts of these assumed scenarios:

December 31, 2023

Effect on profit or loss

Probable

Probable
25%

Remote
50%

CDI

Derivative financial instruments

Liabilities

Derivative options

1,968,337

(387,790)

(743,473)

Derivative swaps

(486,713)

(39,216)

(66,609)

SOFR

Derivative financial instruments

Liabilities

Derivative swaps

(486,713)

127,655

269,490

4.4.2.3.Sensitivity analysis to changes in the consumer price indices of the US economy

For the measurement of the probable scenario, the United States Consumer Price Index (“US-CPI”) was considered on December 29, 2023. The probable scenario was extrapolated considering a depreciation of 25% and 50% in the US-CPI to define the possible and remote scenarios, respectively.

The following table sets out the possible impacts:

December 31, 2023

Effect on profit or loss

Probable
(base value)

Possible
(25%)

Remote
(50%)

Embedded derivative in a commitment to purchase standing wood, originating from a forest partnership agreement

230,471

(30,667)

(63,157)

4.4.3.Commodity price risk management

The Company is exposed to commodity prices, mainly in the selling price of pulp in the international market. The dynamics of rising and falling production capacities in the global market and macroeconomic conditions may impact the Company´s operating results.

Through a specialized team, the Company monitors hardwood pulp prices and analyses future trends, adjusting the forecasts aimed at assisting with preventive measures to calculate the different scenarios. There is no sufficiently liquid financial market to mitigate the risk of a material portion of the Company’s operations. Hardwood pulp price protection instruments available on the market have low liquidity and low volume, and high levels of distortion in price formation.

The Company is also exposed to international oil prices, reflected in logistical costs for selling in the export market, and indirectly in the costs of other supply, logistics and service contracts. In such cases, the Company evaluates whether to contract derivative financial instruments to mitigate the risk of price variations in its results.

4.5.Derivative financial instruments

The Company determines the fair value of derivative contracts, which differ from the amounts realized in the event of early settlement due to bank spreads and market factors at the time of quotation. The amounts presented by the Company are based on an estimate using market factors and use data provided by third parties, measured internally and compared to calculations performed by external consultants and by counterparties.

The fair value does not represent an obligation to make an immediate disbursement or receipt of cash, given that such an effect will only occur on the dates of contractual fulfillment or upon the maturity of each transaction, when the result will be determined, depending on the case and on the market conditions on the agreed dates.

A summary of the methodologies used for the purpose of determining the fair value by type of instrument is presented below:

(i)Swaps: the future value of the asset and liability is estimated based on the cash flows projected using the market interest rate of the currency in which the tip of the swap is denominated. The present value of the US Dollar-denominated tip is measured using the discount based on the exchange coupon curve (the remuneration, in US Dollars, of the Reais invested in Brazil) and in the case of the R$-denominated tip, the discount is made using Brazil’s interest curve, being the future curve of the DI, considering the credit risk of both the Company and the counterparty. The exception is pre-fixed contracts x US$, for which the present value of the tip denominated in US$ is measured through a discount using the SOFR curve disclosed by Bloomberg. The fair value of the contract is the difference between these two points. Interest rate curves were obtained from B3.

(ii)Options (Zero Cost Collar): the fair value was calculated based on the Garman-Kohlhagen model, considering both the Company’s and the counterparty credit risk. Volatility information and interest rates are observable and obtained from the B3 exchange, and are used to calculate the fair values.

(iii)Non-deliverable forward (“NDF”) contracts: a projection of the future currency quote is made, using the exchange coupon curves and the future DI curve for each maturity. Next, the difference between this quotation and the rate at which the operation was contracted is verified, considering the credit risk of the Company and the counterparty. This difference is multiplied by the notional value of each contract, and brought to its present value based on the future DI curve. Interest rate curves were obtained from B3.

(iv)Swap US-CPI: liability cash flows are projected based on the US inflation curve US-CPI, obtained based on the implicit rates for inflation-linked US securities (Treasury Protected against Inflation – “TIPS”), disclosed by Bloomberg. Cash flows from the asset components are projected at the fixed rates implicit in the embedded derivatives. The fair value of an embedded derivative is the difference between the two components, adjusted to present value base on the curve of the exchange coupon obtained from B3.

(v)Swap VLSFO (marine fuel): a future projection of the asset price is made, using the future price curve disclosed by Bloomberg. Next, the difference between this projection and the rate at which the operation was contracted is verified, considering both of Company’s and the counterparty’s credit risk. This difference is multiplied by the notional value of each contract and adjusted to present value using the SOFR curve disclosed by Bloomberg.

The yield curves used to calculate the fair value as of December 31, 2023 are as set forth below:

Interest rate curves

Term

Brazil

United States of America

US Dollar coupon

1 month

11.65% p.a.

5.35% p.a.

2.54% p.a.

6 months

10.79% p.a.

5.15% p.a.

5.55% p.a.

1 year

9.99% p.a.

4.77% p.a.

5.58% p.a.

2 years

9.55% p.a.

4.16% p.a.

5.18%p.a.

3 years

9.66% p.a.

3.89% p.a.

4.99% p.a.

5 years

10.04% p.a.

3.76% p.a.

5.00% p.a.

10 years

10.33% p.a.

4.02% p.a.

5.74% p.a.

4.5.1.Outstanding derivatives by type of contract, including embedded derivatives

The positions of outstanding derivatives are set forth below:


	Notional value, net in U.S.$		Fair value in R$
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Instruments as part of protection strategy
Operational hedges
Zero Cost Collar	4,500,200	6,866,800	1,968,337	1,596,089
NDF (R$ x US$)	505,000	248,100	162,776	(2,474)
NDF (€ x US$)	262,088	544,702	100,362	161,055

Debt hedges
Swap SOFR to Fixed (US$)	2,555,626	3,200,179	741,492	1,052,546
Swap IPCA to CDI (notional in Brazilian Reais)	4,274,397	1,741,787	47,645	278,945
Swap IPCA to Fixed (US$)		121,003		(29,910)
Swap CDI x Fixed (US$)	1,025,000	1,863,534	(1,081,964)	(2,566,110)
Pre-fixed Swap to US$ (US$)	200,000	350,000	(203,045)	(503,605)
Swap CDI x SOFR (US$)	125,000		25,774
Swap SOFR to SOFR (US$)	150,961		(16,615)

Commodity Hedge
Swap US-CPI (US$) (1)	131,510	124,960	230,471	40,418
Zero Cost Collar (Brent)	163,100		(3,148)
Swap VLSFO/Brent	142,794		22,297
			1,994,382	26,954

Current assets			2,676,526	3,048,493
Non-current assets			1,753,928	1,825,256
Current liabilities			(578,763)	(667,681)
Non-current liabilities			(1,857,309)	(4,179,114)
			1,994,382	26,954

(1)The embedded derivative refers to a swap contract for the sale of price variations in United States Dollars and US-CPI within the term of a forest partnership with a standing wood supply contract.

The current contracts and the respective protected risks are set forth below:

(i)Swap CDI x Fixed US$: positions in conventional swaps exchanging the variation of the Interbank Deposit rate (“DI”) for a fixed rate in United States Dollars (“US$”). The objective is to change the debt indexed in Brazilian Reais to US$, in compliance with the Company's natural exposure to US$ receivables.

(ii)Swap IPCA x CDI (notional in Brazilian Reais): positions in conventional swaps exchanging the variation of the Amplified Consumer Price Index (“IPCA”) for the DI rate. The objective is to change the debt indexed in reais, in compliance with the Company's cash position in Brazilian Reais, which is also indexed to DI.

(iii)Swap IPCA x Fixed US$: positions in conventional swaps exchanging the variations of the IPCA for a fixed rate in US$. The objective is to change the debt indexed in Brazilian Reais to US$, in compliance with the Company's natural exposure to US$ receivables.

(iv)Swap SOFR x Fixed US$: positions in conventional swaps exchanging a post-fixed rate (SOFR) for a fixed rate in US$. The objective is to protect the cash flow against changes in the US interest rate.

(v)Pre-Fixed Swap R$ x Fixed US$: positions in conventional swaps of a fixed rate in Reais for a fixed rate in US$. The objective is to change the exposure of debts in Brazilian Reais to US$, in compliance with the Company's natural exposure to US$ receivables.

(vi)SOFR x SOFR Swap: swap position exchanging a fixed rate added to SOFR for another fixed rate added to SOFR. The objective is to generate a fee discount for Prepayment with the banking institution, allowing for reversal mechanisms.

(vii)CDI x SOFR Swap: positions in conventional swaps exchanging the variation in the Interbank Deposit rate (“DI”) for a post-fixed rate (“SOFR”) in United States Dollars (“US$”). The objective is to change the debt index in reais to US$, aligning with the natural exposure of the Company's US$ receivables and capturing a lower cost of debt through the fluctuation of SOFR rate projections.

(viii)Swap Fixed(US$) x SOFR: positions in conventional swaps exchanging a pre-fixed rate in US$ for a post-fixed rate (SOFR) also in US$. The objective is to capture a lower cost of debt by fluctuating SOFR rate projections.

(ix)Zero-Cost Collar: positions in an instrument that consists of the simultaneous combination of a purchase of put options and the sale of call options in US$, with the same principal amount and maturity, with the objective of protecting the cash flow of exports. Under this strategy, an interval is established where there is no deposit or receipt of financial margin at the option maturity. The objective is to protect the cash flow of exports against the depreciation of the Brazilian Real.

(x)Non-Deliverable Forward contracts (“NDF”): short positions in US$ futures contracts with the objective of protecting the cash flow from exports against the depreciation of the Brazilian Real.

(xi)Swap US-CPI: The embedded derivative refers to the swap contracts for selling price variations in US$ and the US-CPI in forest partnership with a standing wood supply contract.

(xii)Non-Deliverable Forward contracts: EUR and US$: call positions at EUR/US$ parity to protect the Capex cash flow of the Cerrado project against the appreciation of the Euro.

(xiii)Swap Very Low Sulphur Fuel Oil / Brent (“VLSFO”): Long positions in oil, aimed at hedging logistical costs related to maritime freight contracts and costs of other oil derivatives against the increase in oil prices.

(xiv)Zero Cost Collar (Brent): positions in an instrument that consists of the simultaneous combination of buying call options and selling put options for oil - Brent, with the same principal value and maturity, with the objective of protecting input costs oil derivates. In this strategy, an interval is established where there is no deposit or receipt of financial margin at the expiration of the options. The objective is to protect costs against rising oil prices.

The variation in the fair values of derivatives on December 31, 2023 compared to the fair values measured on December 31, 2022 are explained substantially by the appreciation of the Brazilian Real against the US Dollar and by settlements during the year.

There were also impacts caused by the variations in the pre fixed, foreign exchange coupon and SOFR curves in the operations.

It is important to highlight that the outstanding agreements on December 31, 2023 are over-the-counter market operations, without any type of collateral margin or forced early settlement clause due to variations from market marking.

4.5.2.Fair value by maturity schedule


	December 31, 2023	December 31, 2022

2024	2,097,763	2,380,812
2025	233,073	297,156
2026	(574,871)	(1,225,193)
2027 onwards	238,417	(1,425,821)
	1,994,382	26,954

4.5.3.Outstanding assets and liabilities derivatives positions

The outstanding derivatives positions are set forth below:


	Notional value			Fair value
	Currency	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Debt hedges
Assets
Swap CDI to Fixed (US$)	R$	3,898,011	7,081,545	223,776	617,835
Swap Pre-Fixed to US$	R$	738,800	1,317,226		45,329
Swap SOFR to Fixed (US$)	US$	2,555,626	3,200,000	1,104,984	1,052,546
Swap IPCA to CDI	IPCA	4,320,471	2,041,327	161,542	427,417
Swap IPCA to US$	IPCA		610,960
Swap CDI to SOFR (US$)	R$	644,850		32,560
Swap SOFR to SOFR (US$)	US$	150,961		6,681
				1,529,543	2,143,127
Liabilities
Swap CDI to Fixed (US$)	US$	1,025,000	1,863,534	(1,305,740)	(3,183,945)
Swap Pre-Fixed to US$	US$	200,000	350,000	(203,045)	(548,934)
Swap SOFR to Fixed (US$)	US$	2,555,626	3,200,000	(363,492)
Swap IPCA to CDI	R$	4,274,397	1,741,787	(113,897)	(148,472)
Swap IPCA to US$	US$		121,003		(29,910)
Swap CDI to SOFR (US$)	US$	125,000		(6,786)
Swap SOFR to SOFR (US$)	US$	150,961		(23,296)
				(2,016,256)	(3,911,261)
				(486,713)	(1,768,134)
Operational hedge
Zero Cost Collar (US$ x R$)	US$	4,500,200	6,866,800	1,968,337	1,596,089
NDF (R$ x US$)	US$	505,000	248,100	162,776	(2,474)
NDF (€ x US$)	US$	262,088	544,702	100,362	161,055
				2,231,475	1,754,670
Commodity hedge
Swap US-CPI (standing wood) (1)	US$	131,510	124,960	230,471	40,418
Zero Cost Collar (Brent)	US$	163,100		(3,148)
Swap VLSFO/Brent	US$	142,794		22,297
				249,620	40,418
				1,994,382	26,954

(1)The embedded derivative refers to the swap contracts for selling price variations in US$ and the US-CPI in forest partnership with a standing wood supply contract.

4.5.4.Fair value settled amounts

The settled derivatives positions are set forth below:


	December 31, 2023	December 31, 2022

Operational hedge
Zero Cost Collar (R$ x US$)	2,987,953	718,618
NDF (R$ x US$)	155,458	8,301
NDF (€ x US$)	84,332	7,113
	3,227,743	734,032
Commodity hedge
Swap VLSFO/other	80,516
	80,516
Debt hedge
Swap CDI to Fixed (US$)	(438,417)	(261,570)
Swap IPCA to CDI (Brazilian Reais)	256,683	(5,180)
Swap IPCA to Fixed (US$)	21,139	171
Swap Pre-Fixed to US$	(104,827)	54,128
Swap CDI to SOFR (US$)	7,729
Swap SOFR to Fixed (US$)	508,720	(239,356)
	251,027	(451,807)
	3,559,286	282,225

4.6.Fair value hierarchy

Financial instruments are measured at fair value, which considers the fair value as the price that would be received from selling an asset or paid to transfer a liability in an unforced transaction between market participants at the measurement date.

Depending on the inputs used for measurement, the financial instruments at fair value may be classified into three hierarchical levels:

(i)Level 1 – Based on quoted prices (unadjusted) for identical assets or liabilities in active markets. A market is considered active if it trades frequently and at a sufficient volume to provide pricing information immediately and continuously, usually obtained from a commodity and stock exchange, pricing service or regulatory agency, and if the prices represent actual market transactions, which occur regularly on a commercial basis;

(ii)Level 2 – Based on the prices quoted in active markets for similar assets or liabilities, the prices quoted for identical or similar assets or liabilities in non-active markets, evaluation models for which inputs are observable , such as rates of interest and yield curves, credit volatilities and spreads, and market corroborated information. Assets and liabilities classified in this category are measured based on the discounted cash flow and interest accrual, respectively, for derivative financial instruments and marketable securities. The observable inputs include interest rates and curves, volatility factors and foreign exchange rates; and

(iii)Level 3 – Based on unquoted data for assets and liabilities, where the Company applies the income approach technique using the discounted cash flow model. The observable inputs used are the IMA, discount rate and eucalyptus average gross sales price.

For the year ended December 31, 2023, there were no changes between the levels of hierarchy and no transfers between levels 2 and 3.


	December 31, 2023
	Level 2	Level 3	Total

Assets
At fair value through profit or loss
Derivative financial instruments	4,430,454		4,430,454
Marketable securities	13,267,286		13,267,286
	17,697,740		17,697,740

At fair value through other comprehensive income
Other investments - CelluForce		23,606	23,606
		23,606	23,606

Biological assets		18,278,582	18,278,582
		18,278,582	18,278,582
Total assets	17,697,740	18,302,188	35,999,928

Liabilities
At fair value through profit or loss
Derivative financial instruments	2,436,072		2,436,072
	2,436,072		2,436,072
Total liabilities	2,436,072		2,436,072


	December 31, 2022
	Level 2	Level 3	Total

Assets
At fair value through profit or loss
Derivative financial instruments	4,873,749		4,873,749
Marketable securities	7,965,742		7,965,742
	12,839,491		12,839,491

At fair value through other comprehensive income
Other investments - CelluForce		24,917	24,917
		24,917	24,917

Biological assets		14,632,186	14,632,186
		14,632,186	14,632,186
Total assets	12,839,491	14,657,103	27,496,594

Liabilities
At fair value through profit or loss
Derivative financial instruments	4,846,795		4,846,795
	4,846,795		4,846,795
Total liabilities	4,846,795		4,846,795

4.7.Cybersecurity

Suzano has a Public Information Security Policy, which aims to establish guidelines regarding cyber security management and controls at Suzano, seeking to mitigate vulnerabilities, preserve and protect assets, mainly information and personal data, in accordance with current laws, regulations and contractual obligations, covering the confidentiality, integrity, availability, authenticity and legality of information. The Policy establishes responsibilities to avoid damages, which may represent financial impacts, image and reputation, exposure of information, interruption of operations, among other damages due to cyber-attacks.

In the year ended December 31, 2023, no material incidents associated with cybersecurity were identified that could affect the confidentiality, integrity and/or availability of the systems used by the Company.

4.8.Climate change

4.8.1.Risks linked to climate change and the sustainability strategy

In view of the nature of the Company’s operations, there is inherent exposure to risks related to climate change.

The Company’s assets, notably biological assets, which are measured at fair value (Note 13), property, plant and equipment (Note 15) and intangible assets (Note 16), may be impacted by climate change, the risks of which were evaluated in the context of preparation of financial statements. For the year ended December 31, 2022, Management considered the main risk data and assumptions highlighted below:

(i)Possible impacts on the determination of fair value in biological assets due to: Effects of climate change, such as temperature rises and scarcity of water resources, could impact some of the assumptions used in accounting estimates related to the Company’s biological assets, as follow:

•Loss of biological assets due to fires and impacts arising from the greater presence and resistance of pests and other forest diseases favored by the gradual increase in temperature;

•Reduction in productivity and expected growth (“IMA”) due to reduced availability of water resources in river basins and other atypical weather events such as droughts, frosts and torrential rains; and

•Interruptions to the production chain due to adverse weather events.

(ii)Scarcity of water resources in the industry: although our units are efficient in the use of water, there are contingency plans for all units affected by possible water shortages and action plans to confront the water crisis in critical regions.

(iii)Structural changes in society and their impacts on business, such as:

•Regulatory and legal: arising from changes in the Brazilian and/or international scope that require capital investment in new technologies and/or operating costs. Among the expected topics are carbon pricing, customs carbon taxation, trade barriers and/or commercial restrictions related to businesses’ alleged contributions, even if indirect, to the intensification of climate change, which increase the risk of litigation;

•Technological: arising from the emergence of improvements and innovations towards an economy with greater energy efficiency and lower carbon. Suzano should continue investing in R&D to reduce greenhouse gas emissions;

•Markets: arising from changes to the supply of and demand for certain products and services as climate-related issues begin to be considered in decision-making. The market should increasingly prioritize the reduction of carbon emissions and more sustainable business practices, which may lead to a drop in demand and revenue for Suzano’s disposable products and an increase in demand for renewable forests and other sustainable products; and

•Reputational: related to the perceptions of customers and society in general regarding the positive or negative contribution of an organization to a low carbon economy.

4.8.2.Compliance with contractual clauses related to sustainability in debt securities and sustainable loans (Sustainability Linked Bonds - “SLB” and Sustainability Linked Loans – “SLL”)

The Company issued debt securities and loans linked to sustainability performance targets ("Sustainability Performance Targets - SPT") related to the reduce the intensity of our greenhouse gas emissions, reduce the intensity of water capture for use in industrial processes and increase the percentage of women in leadership positions by December 31, 2025. Non-compliance with these targets may generate future increases in the cost of said debts, as provided for in the respective contracts.

In 2020, the company issued its first bond based on the SLB Principles. In 2021, Suzano issued two additional Sustainability Linked bonds that, for the first time, were linked to something other than an environmental or social target: a diversity, equity and inclusion target. Its first Sustainability Linked Loan (SLL) was contracted in 2021 and, in 2022, the company obtained a new loan with the International Finance Corporation (IFC) following the guidelines of the SLL Principles.

4.8.3.Climate risk management

The Company has a structure dedicated to corporate risk management, including risks related to climate change, with its own methodologies, tools and processes aimed at ensuring the identification, assessment and treatment of its main short, medium and long-term risks. This allows the continuous monitoring of risks and their eventual impacts, control of the variables involved, and the definition and implementation of mitigating measures, which aim to reduce the identified exposures. The Company’s assessment of the potential physical impacts of climate change, as well as those arising from the transition to a low carbon economy is carried out on an ongoing basis, and will continue to evolve.

4.8.4.Opportunities linked to climate change and the sustainability strategy

4.8.4.1.Biomas

As disclosed in Note 1.2.6, Suzano and five other global companies created Biomas with objective of restoring, conserving and preserving native forests in Brazil.

The initiative aims to restore and protect, over a period of 20 years, native forest in some of Brazil´s most valuable ecosystems, such as the Amazon, Atlantic Forest and Cerrado biomes – The area is equivalent to the territory of Switzerland or the state of Rio de Janeiro, in Brazil.

The initiative aims to promote a sustainable business model from a financial perspective, enabling each restoration, conservation, and preservation projects to be viable through the commercialization of carbon credits, as removals and avoided emissions, reducing tons of CO2e from the atmosphere.

The first stage will involve the identification and prospecting of areas, promoting nurseries for the large-scale production of native trees, engaging local communities in Biomas activities, discussing the application of the project in public areas, partnering with carbon certification platforms and implementing pilot projects.

4.8.4.2.Production of wood-based textile fiber

In May 2023, Woodspin, located in Finland, inaugurated the first factory producing sustainable, recyclable and fully biodegradable textile fiber from responsibly grown wood, the result of the joint venture between Spinnova and Suzano. This new type of fabric was developed to replace less sustainable materials used in many products. This unit will be used for market development and technology improvement.

For the construction and operation of textile fiber projects, Woodspin uses Suzano's microfibrillated cellulose (MFC) as raw material.

4.8.4.3.Securities with clauses related to sustainability

As disclosed in note 4.8.2, Suzano has Sustainability Linked Bonds (SLB) and Sustainability Linked Loan (SLL) linked to environmental performance indicators associated with a goal to reduce greenhouse gases, intensity the capture of water resources, and aspects of diversity and inclusion, evidencing the Company's commitment as part of the solution to the global climate crisis and in convergence with the implementation of its long-term goal. These funding linked to sustainability goals allow differentiated rates.

4.9.Capital management

The main objective is to strengthen the Company’s capital structure, aiming to maintain an appropriate level of financial leverage while mitigating risks that could affect the availability of capital for business development.

The Company continuously monitors significant indicators, such as consolidated financial leverage, which is the ratio of total net debt to adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (“Adjusted EBITDA”).

CASH AND CASH EQUIVALENTS

12 Months Ended

Dec. 31, 2023

Cash and cash equivalents [abstract]

CASH AND CASH EQUIVALENTS

5. CASH AND CASH EQUIVALENTS


	Average yield p.a. %	December 31, 2023	December 31, 2022

Cash and banks (1)	5.50	6,561,558	8,064,193

Cash equivalents
Local currency
Fixed-term deposits (compromised)	102.78 of CDI	1,784,313	1,441,758
		8,345,871	9,505,951

(1)Refers mainly to investments in foreign currency under the Sweep Account modality, which is a remunerated account the balance of which is invested and made available automatically each day.

MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2023

Disclosure of financial assets [abstract]

MARKETABLE SECURITIES

6. MARKETABLE SECURITIES


	Average yield p.a. %	December 31, 2023	December 31, 2022

In local currency
Private funds	109.87 of CDI	1,295,296	1,208,975
Private Securities ("CDBs")	102.81 of CDI	4,150,313	1,827,012
CDBs - Escrow Account (1)	104.65 of CDI	443,400	419,103
		5,889,009	3,455,090
Foreign currency
Time deposits (2)	6.71	7,333,308	4,386,589
Other		44,969	124,063
		7,378,277	4,510,652
		13,267,286	7,965,742

Current		12,823,886	7,546,639
Non-Current		443,400	419,103

(1)Includes escrow accounts, which will be released only after obtaining the applicable governmental approvals, and pending compliance by the Company with the conditions precedent in transactions involving the sale of rural properties.

(2)Refers to Time Deposit investments, with maturities over 90 days, which are remunerated bank deposits with specific maturity periods.

TRADE ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2023

Trade and other current receivables [abstract]

TRADE ACCOUNTS RECEIVABLE

7. TRADE ACCOUNTS RECEIVABLE

7.1.Breakdown of balances


	December 31, 2023	December 31, 2022

Domestic customers
Third parties	1,785,157	1,915,745
Related parties (Note 11) (1)	45,650	99,608

Foreign customers
Third parties	5,049,609	7,612,768

(-) Expected credit losses	(31,962)	(21,109)
	6,848,454	9,607,012

(1)The balance refers to transactions with Ibema Companhia Brasileira de Papel.

The Company carries out factoring transactions for certain customer receivables where transfers the control and all risks and rewards related to these receivables to the counterparty, so these receivables are derecognized from accounts receivable in the balance sheet. This transaction refers to an additional cash generation opportunity and is therefore classified as a financial asset measured at amortized cost. The impact of these factoring transactions on the accounts receivable as of December 31, 2023, was R$4,273,623 (R$6,889,492 as of December 31, 2022).

7.2.Breakdown of trade accounts receivable by maturity


	December 31, 2023	December 31, 2022

Current	5,904,402	8,652,376
Overdue
Up to 30 days	644,644	777,150
From 31 to 60 days	57,395	74,253
From 61 to 90 days	97,639	54,784
From 91 to 120 days	40,533	20,975
From 121 to 180 days	34,708	18,945
From 181 days	69,133	8,529
	6,848,454	9,607,012

7.3.Roll-forward of expected credit losses


	December 31, 2023	December 31, 2022

Opening balance	(21,109)	(34,763)
Additions	(38,775)	(5,228)
Reversals	3,573	3,576
Write-offs	24,230	12,355
Exchange rate variations	119	2,951
Closing balance	(31,962)	(21,109)

The Company maintains guarantees for overdue receivables as part of its commercial operations, through credit insurance policies, letters of credit and other guarantees. These guarantees avoid the need to recognize expected credit losses, in accordance with the Company’s credit policy.

7.4.Main customers

The Company has 1 (one) customer responsible for 10.27% of the net sales of pulp segment on December 31, 2023 (10.67% on December 31, 2022) and no main customer responsible for more than 10% of the net sales of paper segment on December 31, 2023 and 2022.

INVENTORIES

12 Months Ended

Dec. 31, 2023

Classes of current inventories [abstract]

INVENTORIES

8. INVENTORIES


	December 31, 2023	December 31, 2022

Finished goods
Pulp
Domestic (Brazil)	576,774	616,557
Foreign	1,271,335	1,440,207
Paper
Domestic (Brazil)	569,771	359,322
Foreign	137,653	201,868
Work in process	93,325	93,964
Raw materials
Wood	1,666,817	1,492,661
Operating supplies and packaging	795,274	732,140
Spare parts and other	931,052	897,531

(-) Expected credit losses	(95,053)	(105,989)
	5,946,948	5,728,261

8.1.Roll-forward of estimated losses


	December 31, 2023	December 31, 2022

Opening balance	(105,989)	(91,258)
Additions	(65,085)	(89,552)
Reversals	33,666	33,492
Write-offs	42,355	41,329
Closing balance	(95,053)	(105,989)

On December 31, 2023, and December 31, 2022, there were no inventory items pledged as collateral.

RECOVERABLE TAXES

12 Months Ended

Dec. 31, 2023

RECOVERABLE TAXES

RECOVERABLE TAXES

9. RECOVERABLE TAXES


	December 31, 2023	December 31, 2022

IRPJ/CSLL – prepayments and withheld taxes	464,188	179,812
PIS/COFINS – on acquisitions of property, plant and equipment (1)	93,866	89,334
PIS/COFINS – operations	699,717	523,970
PIS/COFINS – exclusions from ICMS (2)	443,210	570,945
ICMS – on acquisitions of property, plant and equipment (3)	432,793	167,286
ICMS – operations (4)	1,470,949	1,423,375
Reintegra program (5)	64,077	65,971
Other taxes and contributions	45,821	39,057
Provision for loss on ICMS credits (6)	(1,452,435)	(1,103,807)
	2,262,186	1,955,943

Current	888,539	549,580
Non-current	1,373,647	1,406,363

(1)Social Integration Program (“PIS”) and Social Security Funding Contribution (“COFINS”): Credits whose realization is based on the years of depreciation of the corresponding asset.

(2)The Company and its subsidiaries filed lawsuits over the years seeking the exclusion of ICMS from the PIS and COFINS contribution tax basis, in relation to certain transactions during various periods from March 1992.

(3)Tax on Sales and Services (“ICMS”): Credits from the acquisition of property, plant and equipment are recovered on a straight-line basis over a four-year period, from the acquisition date, in accordance with the relevant regulation, the ICMS Control on Property, Plant and Equipment (“CIAP”).

(4)ICMS credits accrued due to the volume of exports and credit generated from product import transactions: Credits are concentrated in the States of Espírito Santo, Maranhão, Mato Grosso do Sul e São Paulo, where the Company realizes the credits through the sale of credits to third parties, after approval from the State Ministry of Finance of each State. Credits are also being realized through the consumption of consumer goods (tissue) transactions in the domestic market.

(5)Special Regime of Tax Refunds for Export Companies (“Reintegra”): Reintegra is a program that aims to refund the residual costs of taxes paid throughout the export chain to taxpayers, to make them more competitive in foreign markets.

(6)Related to provisions for ICMS credit balances that are not probable to be recovered.

9.1.Roll-forward of provision for loss


	ICMS
	December 31, 2023	December 31, 2022

Opening balance	(1,103,807)	(1,064,268)
Additions (1)	(399,838)	(221,903)
Reversals	51,210	163,900
Write-offs		18,464
Closing balance	(1,452,435)	(1,103,807)

ADVANCES TO SUPPLIERS

12 Months Ended

Dec. 31, 2023

ADVANCES TO SUPPLIERS

ADVANCES TO SUPPLIERS

10. ADVANCES TO SUPPLIERS


	December 31, 2023	December 31, 2022

Forestry development program and partnerships	2,242,229	1,592,132
Advance to suppliers - others	113,743	108,146
	2,355,972	1,700,278

Current	113,743	108,146
Non-current	2,242,229	1,592,132

The forestry development program consists of an incentive partnership for regional forest production, where independent producers plant eucalyptus on their own land to supply agricultural wood products to the Company. Suzano provides eucalyptus seedlings, input subsidies and cash advances, and the latter are not subject to valuation at their present value since they will be settled in volume standing or cut wood. In addition, the Company supports producers by providing technical advice on forest management but does not have joint control over decisions effectively implemented. At the end of the production cycles, the Company has a contractually guaranteed right to make an offer to purchase the forest and/or wood at its market value. However, this right does not prevent producers from negotiating the sale of the forest and/or wood with other market participants, provided the incentive amounts are fully paid.

RELATED PARTIES

12 Months Ended

Dec. 31, 2023

Disclosure of transactions between related parties [abstract]

RELATED PARTIES

11. RELATED PARTIES

The Company's commercial and financial transactions with the controlling shareholder and Companies owned by the controlling shareholder Suzano Holding S.A. ("Suzano Group") were carried out at specific prices and conditions, as well as the corporate governance practices adopted by the Company, and those recommended and/or required by the applicable legislation.

The transactions refers mainly to:

Assets: (i) accounts receivable from the sale of pulp, paper, tissue and other products; (ii) interest on shareholder’s capital and dividends receivable; (iii) reimbursement for expenses; and (iv) social services;

Liabilities: (i) loan agreements;(ii) reimbursement for expenses; (iii) social services; (iv) real estate consulting; and (v) interest on shareholder’s capital and dividends payable.

Amounts in the statements of income: (i) sale of pulp, paper, tissue and other products; (ii) loan charges and exchange variation; (iii) social services and (viii) real estate consulting.

For the year ended December 31, 2023, there were no material changes in the terms of the agreements, deals and transactions entered into, nor were there any new contracts, agreements or transactions of any different nature entered into between the Company and its related parties.

11.1.Balances recognized in assets and liabilities and amounts of transactions during the year


	Assets		Liabilities		Sales (purchases), net
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022	December 31, 2021

Transactions with controlling shareholders
Management and related persons			(31,748)
Alden Fundo de Investimento em Ações			(30,428)
Controller			(193,883)
Suzano Holding S.A.	24	5	(363,520)		9	91	(2,621)
	24	5	(619,579)		9	91	(2,621)

Transactions with companies of the Suzano
Group and other related parties
Management (expect compensation – Note 11.2)	61			(5)	(906)	(47)	(422)
Bexma Participações Ltda		1			9	38	24
Bizma Investimentos Ltda		1			7	10	6
Civelec Participações Ltda	4,575				4,825
Fundação Arymax					3	4	2
Ibema Companhia Brasileira de Papel (1)	45,659	106,940	(1,023)	(3,705)	168,621	218,226	169,965
Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável	2	3		(66)	(5,549)	(4,603)	(4,399)
IPLF Holding S.A.		23			5	38	10
Mabex Representações e Participações Ltda.					(817)		(137)
Nemonorte Imóveis e Participações Ltda					(178)	(194)	(170)
	50,297	106,968	(1,023)	(3,776)	166,020	213,472	164,879
	50,321	106,973	(620,602)	(3,776)	166,029	213,563	162,258

Assets
Trade accounts receivable (Note 7)	45,650	99,608
Dividends receivable		7,334
Other assets	4,671	31
Liabilities
Trade accounts payable (Note 17)			(1,023)	(3,776)
Dividends and interest on own capital payable (2)			(619,579)
	50,321	106,973	(620,602)	(3,776)

(1)Refers mainly to the sale of pulp.

(2)The amount of R$619,579 refers to interest on own capital payable to the controlling shareholders and the amount of R$696,949 refers to other non-controlling shareholders, totaling R$1,316,528 (Note 1.2.7).

11.2.Management compensation

Expenses related to the compensation of key management personnel, which include the Board of Directors, Fiscal Council and Board of Statutory Executive Officers, recognized in the statement of income for the period, are set out below:


	December 31, 2023	December 31, 2022	December 31, 2021

Short-term benefits
Salary or compensation	49,165	50,228	48,693
Direct and indirect benefits	2,286	1,099	880
Bonus	10,829	7,031	6,474
	62,280	58,358	56,047

Long-term benefits
Share-based compensation plan	42,130	36,390	46,306
	42,130	36,390	46,306
	104,410	94,748	102,353

Short-term benefits include fixed compensation (salaries and fees, vacation pay, mandatory bonus and “13th month’s salary” bonus), payroll charges (Company’s share of contributions to social security – “INSS”) and variable compensation such as profit sharing, bonuses and benefits (company car, health plan, meal voucher, market voucher, life insurance and private pension plan).

Long-term benefits include the stock option plan and phantom shares for executives and key members of Management, in accordance with the specific regulations disclosed in Note 22.

INCOME AND SOCIAL CONTRIBUTION TAXES

12 Months Ended

Dec. 31, 2023

Major components of tax expense (income) [abstract]

INCOME AND SOCIAL CONTRIBUTION TAXES

12. INCOME AND SOCIAL CONTRIBUTION TAXES

The Company calculates income tax and social contribution taxes, current and deferred, based on the following rates: (i) 15% plus an additional 10% on taxable income in excess of R$240 for IRPJ; and (ii) 9% for CSLL, on the net income. Balances are recognized in the Company's income on an accruals basis.

Subsidiaries domiciled in Brazil have their taxes calculated and provisioned in accordance with the current legislation and their specific tax regime, including, in some cases, the presumed profit method. Subsidiaries domiciled abroad are subject to taxation in their respective jurisdictions, according to local regulations.

Deferred income and social contribution taxes are recognized at the net amounts in non-current assets or liabilities.

In Brazil, Law nº. 12,973/14 revoked article 74 of Provisional Measure nº. 2,158/01 and determines that the parcel of the adjustment of the value of the investment in subsidiaries, direct and indirect, domiciled abroad, equivalent to the profit earned by them before income tax, except for exchange rate variation, must be added in the determination of taxable income and the social contribution calculation basis of the controlling entity domiciled in Brazil, at each year ended.

The Company management believes in the validity of the provisions of international treaties entered by Brazil to avoid double taxation. In order to ensure its right to non-double taxation, the Company filed a lawsuit in April 2019, which aims to exempt the double taxation in Brazil, of profits earned by its subsidiary located in Austria, according to Law No. 12,973/14. Due to the preliminary injunction granted in favor of the Company in the aforementioned lawsuit, the Company decided not to add the profit from Suzano International Trading GmbH, located in Austria, when determining its taxable income and social contribution basis of the net profit of the Company for the year ended December 31, 2023. There is no provision for tax related to the non-double taxation profits of such subsidiary in 2023. Disclosures about uncertain tax positions for income tax and social contribution (IFRIC 23) are presented in Note 20.2.1.

12.1.Deferred taxes

12.1.1.Deferred income and social contribution taxes


	December 31, 2023	December 31, 2022

Tax loss	1,209,968	1,207,096
Negative tax basis of social contribution	457,030	445,250

Assets - temporary differences
Provision for judicial liabilities	324,158	268,596
Operating provisions and other losses	1,214,807	999,028
Exchange rate variations	2,384,153	4,297,503
Amortization of fair value adjustments arising from business combinations	654,358	680,142
Unrealized profit on inventories	151,578	363,052
Leases	356,110	364,838
	6,752,162	8,625,505

Liabilities - temporary differences
Goodwill - tax benefit on unamortized goodwill	1,301,654	1,023,103
Property, plant and equipment - deemed cost	1,137,483	1,217,349
Depreciation for tax-incentive reason(1)	799,857	869,997
Capitalized loan costs	640,063	210,834
Fair value of biological assets	1,115,432	703,274
Deferred taxes, net of fair value adjustments	370,947	398,950
Tax credits - gains from tax lawsuit (exclusion of ICMS from the PIS and COFINS basis)	150,691	194,121
Derivatives gains (“MtM”)	678,090	9,164
Other temporary differences	24,109	13,416
	6,218,326	4,640,208

Non-current assets	545,213	3,986,415
Non-current liabilities	11,377	1,118

(1)Tax depreciation is taken as a benefit only in the income tax calculation bases.

12.1.2.Breakdown of accumulated tax losses and social contribution tax losses carried forward


	December 31, 2023	December 31, 2022

Tax loss carried forward	4,839,872	4,828,384
Negative tax basis of social contribution carried forward	5,078,111	4,947,222

12.1.3.Roll-forward of deferred tax assets


	December 31, 2023	December 31, 2022

Opening balance	3,985,297	8,729,929
Tax loss	2,872	50,220
Negative tax basis of social contribution	11,780	34,176
Provision for judicial liabilities	55,562	19,251
Operating provisions and other losses	215,779	33,898
Exchange rate variation	(1,913,350)	(2,257,699)
Derivative gains (“MtM”)	(668,926)	(2,202,857)
Amortization of fair value adjustments arising from business combinations	2,219	8,970
Unrealized profit on inventories	(211,474)	64,164
Leases	(8,728)	(8,534)
Goodwill - tax benefit on unamortized goodwill	(278,551)	(276,614)
Property, plant and equipment - deemed cost	79,866	99,510
Depreciation accelerated for tax-incentive reason	70,140	74,952
Capitalized loan costs	(429,229)	(111,435)
Fair value of biological assets	(412,158)	(272,308)
Credits on exclusion of ICMS from the PIS/COFINS tax base	43,430	3,906
Other temporary differences	(10,693)	(4,232)
Closing balance	533,836	3,985,297

12.2.Reconciliation of the effects of income tax and social contribution on profit


	December 31, 2023		December 31, 2022		December 31, 2021

Net income (loss) before taxes	17,997,216		28,655,581		8,832,957
Income tax and social contribution benefit (expense) at the statutory nominal rate of 34%	(6,119,053)		(9,742,898)		(3,003,205)

Tax effect on permanent differences
Taxation (difference) on profits of subsidiaries in Brazil and abroad (1)	1,688,656		4,915,243		3,445,206
Equity method	(6,589)		96,685		44,309
Thin capitalization (2)	(46,796)		(505,553)		(603,612)
Interest on own capital	510,000
Credit related to the Reintegra Program	7,176		7,829		7,398
Director bonuses	(4,907)		(12,208)		(15,656)
Tax incentives (3)	128,650		51,839		16,443
Donations/Fines – Other	(47,972)		(71,631)		(88,308)
	(3,890,835)		(5,260,694)		(197,425)
Income tax
Current	(352,577)		(464,312)		(276,431)
Deferred	(2,561,991)		(3,485,267)		69,669
	(2,914,568)		(3,949,579)		(206,762)
Social Contribution
Current	(42,815)		(46,584)		(15,684)
Deferred	(933,452)		(1,264,531)		25,021
	(976,267)		(1,311,115)		9,337
Income and social contribution benefits (expenses) for the year	(3,890,835)		(5,260,694)		(197,425)

Effective rate of income and social contribution tax expenses	21.62	%	18.36	%	2.24	%

(1)The difference in the taxation of subsidiaries is substantially due to the differences between the nominal tax rates in Brazil and those of subsidiaries located abroad.

(2)The Brazilian thin capitalization rules establish that interest paid or credited by a Brazilian entity to a related party abroad may only be deducted for income tax and social contribution purposes if the interest expense is viewed as necessary for the activities of the local entity, and when certain limits and requirements are met. On December 31, 2023 and 2022, the Company did not meet all of the limits and requirements, and therefore the expense is not deductible for the period.

12.3.Tax incentives

The Company benefits from a tax incentive for partial reduction of the income tax obtained from operations carried out in areas under the jurisdiction of the Northeast Development Superintendence (“SUDENE”) and the Superintendence of Amazon Development (“SUDAM”). The IRPJ reduction incentive is calculated based on the activity profits (exploitation profits) and considers the allocation of the operating profit based on the incentive production levels for each product.

Area/Regions

Company

Maturity

Northeast Development Superintendence (“SUDENE”)

Eunápolis (BA)

Veracel

2025

Aracruz (ES)

Portocel

2030

Aracruz (ES)

Suzano

2031

Imperatriz (MA)

Suzano

2032

Mucuri (BA)

Suzano

2032

Superintendence of Amazon Development (“SUDAM”)

Belém (PA)

Suzano

2025

BIOLOGICAL ASSETS

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about biological assets [abstract]

BIOLOGICAL ASSETS

13. BIOLOGICAL ASSETS

The roll-forward of biological assets is as set forth below:


	December 31, 2023	December 31, 2022

Opening balance	14,632,186	12,248,732
Additions	5,777,952	4,957,380
Depletions	(3,680,997)	(3,665,057)
Transfers	(136,297)
Gain on fair value adjustments	1,989,831	1,199,759
Disposals	(128,370)	(82,331)
Other write-offs	(175,723)	(26,297)
Closing balance	18,278,582	14,632,186

The calculation of fair value of the biological assets falls under Level 3 in the hierarchy set forth in IFRS 13 — Measurement of Fair Value, due to the complexity and structure of the calculation.

The assumptions such as the average annual growth (“IMA”), discount rate, and average gross selling price of eucalyptus, stand out as being the most sensitive, where increases or reductions in these assumptions could generate significant gains or losses in the measurement of fair value.

The assumptions used in the measurement of the fair value of biological assets were as follow:

i)Average cycle of forest formation between 6 and 7 years;

ii)Effective area of forest from the 3rd year of planting;

iii)The IMA consists of the estimated volume of production of wood with bark in m3 per hectare, ascertained based on the genetic material used in each region, silvicultural practices and forest management, production potential, climate factors and soil conditions;

iv)The estimated average standard cost per hectare includes silvicultural and forest management expenses, applied to each year of formation of the biological cycle of the forests, plus the costs of land lease agreements and the opportunity cost of owning land;

v)The average gross selling prices of eucalyptus were based on specialized research on transactions carried out by the Company with independent third parties; and

vi)The discount rate used in cash flows is measured based on the capital structure and other economic assumptions of an independent market participant in the sale of standing wood (forests).

The table below discloses the measurement of the premises adopted:


	December 31, 2023		December 31, 2022

Planted useful area (hectare)	1,094.611		1,097.081
Mature assets	144.942		134.752
Immature assets	949.669		962.329
Average annual growth (IMA) – m3/hectare/year	37.92		37.07
Average gross sale price of eucalyptus – R$/m3	96.04		90.16
Discount rate - % (post-tax)	8.80	%	9.10	%

The pricing model considers the net cash flows, after the deduction of taxes on profit at the applicable rates.

The fair value adjustment justified by the combined variations of the indicators mentioned above resulted in a positive variation of R$1,989,831 recognized in other operating income (expenses), net (Note 30).


	December 31, 2023	December 31, 2022

Physical changes and discount rate (1)	1,575,017	(37,088)
Price	414,814	1,236,847
	1,989,831	1,199,759

(1)Includes the variation of indicators: IMA, discount rate and area.

The Company manages the financial and climate risks related to its agricultural activities in a preventive manner. To reduce the risks arising from edaphoclimatic factors, the weather is monitored through meteorological stations and, in the event of pests and diseases, our Department of Forestry Research and Development, an area specialized in physiological and phytosanitary aspects, has procedures to diagnose and act rapidly against any occurrences and losses (Note 4.8).

The Company has no biological assets pledged for the year ended December 31, 2023 and the year ended December 31, 2022.

INVESTMENTS

12 Months Ended

Dec. 31, 2023

Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract]

INVESTMENTS

14. INVESTMENTS

14.1.Investments breakdown


	December 31, 2023	December 31, 2022

Investments in associates and joint ventures	355,520	354,200
Goodwill	228,887	233,399
Other investments evaluated at fair value through other comprehensive income – Celluforce	23,606	24,917
	608,013	612,516

14.2.Investments in associates and joint ventures


	Information of joint ventures as of December 31, 2023				Company Participation
					Carrying amount		In the income (expenses) for the year
	Equity	Income (expenses) of the year	Participation equity (%)		December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Associate
Ensyn Corporation	1,515	(29,648)	25.53	%	387	1,250	(12,448)	(1,036)
Spinnova Plc (1)	509,777	(56,567)	18.78	%	95,736	113,079	(20,109)	2,871
					96,123	114,329	(32,557)	1,835

Joint ventures
Domestic (Brazil)
Biomas	16,782	(13,218)	16.66	%	2,797		(2,203)
Ibema Companhia Brasileira de Papel	314,033	103,399	49.90	%	156,703	158,996	35,161	48,891
Foreign
F&E Technologies LLC	9,973		50.00	%	4,987	5,230
Woodspin Oy	189,821	(39,560)	50.00	%	94,910	75,645	(19,780)	(2,220)
					259,397	239,871	13,178	46,671

Other movements					23,606	24,917		235,862
					23,606	24,917		235,862
					379,126	379,117	(19,379)	284,368

(1)The average share price quoted on the Nasdaq First North Growth Market (NFNGM) was EUR2.40 (two Euros and forty cents) on December 31, 2023 and (EUR5.44 (five Euros and forty-four cents) in December 31, 2022).

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about property, plant and equipment [abstract]

PROPERTY, PLANT AND EQUIPMENT

15. PROPERTY, PLANT AND EQUIPMENT


	Land	Buildings	Machinery, equipment and facilities	Work in progress	Other (1)	Total

Average rate %		3.57	6.36		17.75

Accumulated cost	9,791,102	9,415,818	43,949,632	1,603,915	1,104,601	65,865,068
Accumulated depreciation		(3,577,097)	(23,344,836)		(773,432)	(27,695,365)
Balance as of December 31, 2021	9,791,102	5,838,721	20,604,796	1,603,915	331,169	38,169,703
Additions	5,089	516	381,741	11,220,806	15,832	11,623,984
Additions of merged companies	3,829,344					3,829,344
Write-offs	(69,773)	(10,613)	(58,435)		(3,384)	(142,205)
Depreciation		(310,429)	(2,367,163)		(124,464)	(2,802,056)
Transfers	930,646	246,782	1,057,714	(2,451,570)	194,292	(22,136)
Accumulated cost	14,486,408	9,644,875	45,160,365	10,373,151	1,281,328	80,946,127
Accumulated depreciation		(3,879,898)	(25,541,712)		(867,883)	(30,289,493)
Balance as of December 31, 2022	14,486,408	5,764,977	19,618,653	10,373,151	413,445	50,656,634
Additions (2)	54,027	15	467,032	10,742,118	17,949	11,281,141
Amounts from the acquisition of MMC Brasil (3)	4,572	111,495	453,617	8,306	11,175	589,165
Write-offs	(25,090)	(36,184)	(133,249)		(56,869)	(251,392)
Depreciation		(313,304)	(2,570,734)		(145,092)	(3,029,130)
Transfers (4)	339,272	379,495	2,702,633	(3,638,466)	259,717	42,651
Accumulated cost	14,859,189	10,032,317	48,456,537	17,485,109	1,491,663	92,324,815
Accumulated depreciation		(4,125,823)	(27,918,585)		(991,338)	(33,035,746)
Balance as of December 31, 2023	14,859,189	5,906,494	20,537,952	17,485,109	500,325	59,289,069

(1)Includes vehicles, furniture and utensils and computer equipment.

(2)On December 31, 2023, the addition of work in progress refers, mainly to the Cerrado Project, of which R$393,042 is a cash effect in the previous periods (R$1,832,746 with non-cash effect on December 31, 2022).

(3)On June 1, 2023, the Company completed the acquisition of MMC Brasil and on November 1, 2023 the legal entity has fully merged by Suzano S.A. (Note 1.2.3.)

(4)Transfer between inventories, intangible and others within the year.

For the year ended December 31, 2023, the Company evaluated the business, market and climate impacts, and did not identify any event that indicated the need to perform an impairment test and to record any impairment provision for property, plant and equipment (Note 4.8).

15.1.Items pledged as collateral

On December 31, 2023, property, plant and equipment items pledged as collateral for loan transactions and legal proceedings, consisting mainly of the unit of Três Lagoas and Imperatriz totalling R$16,332,447 (R$12,773,662 in the same units as of December 31, 2022).

15.2.Capitalized expenses

For the year ended December 31, 2023, the Company capitalized loan costs in the amount of R$1,160,364 (R$359,407 as of December 31, 2022). The weighted average interest rate, adjusted by the equalization of the exchange rate effects, utilized to determine the capitalized amount was 10.98% p.a. (12.49% p.a. as of December 31, 2022).

INTANGIBLE

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about intangible assets [abstract]

INTANGIBLE

16. INTANGIBLE

16.1.Goodwill and intangible assets with indefinite useful lives


	December 31, 2023	December 31, 2022

Goodwill - Facepa	119,332	119,332
Goodwill - Fibria	7,897,051	7,897,051
Goodwill - MMC Brasil (1)	170,859
Other (2)	4,834	3,405
	8,192,076	8,019,788

(1)Refers to the goodwill of the MMC Brasil business combination, whose allocation of the purchase price is disclosed in note 1.2.3.

(2)Refers to other intangible assets with indefinite useful lives such as servitude of passage and electricity.

The goodwill is based on expected future profitability supported by valuation reports, after the purchase price allocation.

Goodwill is allocated to cash-generating units as presented in Note 29.4.

The calculation of the value in use of non-financial assets is performed annually using the discounted cash flow method. In 2023, the Company used the strategic plan and the annual budget with projected increases to 2028 and the average rate in perpetuity of the cash generating units considering a nominal rate of 3.5% p.a. from this date, based on historical information for previous years, economic and financial projections from each specific market in which the Company has operations, and additionally include official information disclosed by independent institutions and government agencies.

The discount rate, after taxes, adopted by Management was 8.9% p.a., calculated based on the weighted average cost of capital (“WACC”). The assumptions in the table set forth below were also adopted:


Net average pulp price – Foreign market (US$/t)						662.1
Net average pulp price – Internal market (US$/t)						648.7
Average exchange rate (R$/US$)						5.15
Discount rate (pos-tax)						8.9% p.a.
Discount rate (pre-tax)						12.25% p.a.

For the year ended December 31, 2023, the Company did not identify the need to record any impairment provision for intangible assets.

If the post-tax discount rate applied to the cash flow projections of both cash-generating units had been 1% higher than management’s estimates (9.9% instead of 8.9%), the Company would still not need to record an impairment provision.

The Company have considered and assessed possible changes for other key assumptions and have not identified any instances that could cause the carrying amount of the cash generating units to exceed its recoverable amount.

16.2.Intangible assets with defined useful lives


		December 31, 2023	December 31, 2022

Opening balance		7,173,183	8,014,740
Additions		104,931	90,499
Fair value adjustment MMC Brasil (1)		189,655
Write-offs		(2)	(51)
Amortization		(990,432)	(966,796)
Transfers and others		79,674	34,791
Closing balance		6,557,009	7,173,183
Represented by	Average rate %
Non-competition agreements	5.00	4,818	5,128
Port concessions	4.30	537,179	554,832
Lease agreements	16.90	6,875	14,374
Supplier agreements	12.90	40,739	55,554
Port service contracts	4.20	549,821	579,289
Cultivars	14.30	40,784	61,176
Trademarks and patents (1)	9.05	188,723	10,935
Customer portfolio	9.10	4,925,879	5,746,860
Supplier agreements	17.60	10,861	21,427
Software	20.00	141,178	113,946
Other	5.75	110,152	9,662
		6,557,009	7,173,183

Cost		12,378,761	12,004,503
Amortization		(5,821,752)	(4,831,320)
Closing balance		6,557,009	7,173,183

(1)On June 1, 2023, the Company completed the acquisition of MMC Brasil and on November 1, 2023 the legal entity has fully merged by Suzano S.A. (Note 1.2.3.)

TRADE ACCOUNTS PAYABLE

12 Months Ended

Dec. 31, 2023

Trade and other payables [abstract]

TRADE ACCOUNTS PAYABLE

17. TRADE ACCOUNTS PAYABLE


	December 31, 2023	December 31, 2022

In local currency
Third party (1) (2)	3,946,185	4,171,988
Related party (Note 11.1) (3)	1,023	3,776

In foreign currency
Third party (2)	1,625,011	2,030,806
	5,572,219	6,206,570

(1)Within the balance of suppliers, there are values under supplier finance arrangement that were subject to anticipation with financial institutions at the exclusive option of certain suppliers, without changing the originally defined purchase conditions (payment terms and negotiated prices). The balance related to such operations on December 31, 2023 was R$281,350 (R$416,643 at December 31, 2022).

(2)Within the balance of suppliers, the following balances refer to the Cerrado Project, R$523,408 (R$625,645 on December 31, 2022) in local currency and R$1,080,028 (R$1,370,833 on December 31, 2022) in foreign currency.

(3)The balance refers mainly to transactions with Ibema Companhia Brasileira de Papel.

LOANS, FINANCING AND DEBENTURES

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about borrowings [abstract]

LOANS, FINANCING AND DEBENTURES

18. LOANS, FINANCING AND DEBENTURES

18.1.Breakdown by type


		Average annual interest rate - %	Current		Non-current		Total
Type	Interest rate		December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

In foreign currency
BNDES	UMBNDES	7.5%		11,207				11,207
Bonds	Fixed	5.0%	841,625	907,059	40,122,749	43,218,286	40,964,374	44,125,345
Export credits (“export prepayments”)	SOFR/Fixed	5.8%	2,690,891	156,156	14,487,252	16,779,064	17,178,143	16,935,220
Assets financing	SOFR	3.1%	61,924	26,755	220,199	113,217	282,123	139,972
IFC - International Finance Corporation	SOFR	5.5%	731		2,871,399		2,872,130
Others			7,903	5,980			7,903	5,980
			3,603,074	1,107,157	57,701,599	60,110,567	61,304,673	61,217,724
In local currency
BNDES	TJLP	8.4%	49,348	69,495	199,988	246,004	249,336	315,499
BNDES	TLP	13.2%	57,060	41,640	3,123,727	1,775,991	3,180,787	1,817,631
BNDES	Fixed	4.0%	4,020	18,666		4,011	4,020	22,677
BNDES	SELIC	12.7%	65,013	67,115	857,419	814,320	922,432	881,435
CRA (“Agribusiness Receivables Certificates”)	CDI/IPCA	11.6%		1,829,966				1,829,966
Assets financing	CDI	12.3%	17,037		71,235		88,272
NCE (“Export credit notes”)	CDI	12.1%	3,114	76,463	100,000	1,277,616	103,114	1,354,079
NCR (“Rural producer certificates”)	CDI	10.3%	101,739	13,144	1,998,270	274,127	2,100,009	287,271
Export credits (“export prepayments”)	Fixed	8.4%	791,306	77,694		1,315,813	791,306	1,393,507
Debentures	CDI/IPCA	11.7%	66,536	33,689	8,362,207	5,421,113	8,428,743	5,454,802
			1,155,173	2,227,872	14,712,846	11,128,995	15,868,019	13,356,867
			4,758,247	3,335,029	72,414,445	71,239,562	77,172,692	74,574,591

Interest on financing			1,232,810	1,238,623			1,232,810	1,238,623
Non-current funding			3,525,437	2,096,406	72,414,445	71,239,562	75,939,882	73,335,968
			4,758,247	3,335,029	72,414,445	71,239,562	77,172,692	74,574,591

18.2.Breakdown by maturity – non-current


	2025	2026	2027	2028	2029	2030 onwards	Total

In foreign currency
Bonds	1,638,631	2,511,857	3,364,504	2,390,464	8,460,351	21,756,942	40,122,749
Export credits (“export prepayments”)	5,303,913	4,684,879	3,772,028		726,432		14,487,252
Assets financing	62,740	65,170	64,944	27,345			220,199
IFC - International Finance Corporation			188,273	887,572	1,291,013	504,541	2,871,399
	7,005,284	7,261,906	7,389,749	3,305,381	10,477,796	22,261,483	57,701,599
In local currency
BNDES – TJLP	99,525	85,538	7,117	3,604	3,604	600	199,988
BNDES – TLP	69,785	92,134	152,944	150,111	135,949	2,522,804	3,123,727
BNDES – Selic	231,793	230,625	30,406	30,405	30,406	303,784	857,419
Asset financing	17,302	17,644	17,997	18,292			71,235
NCE (“Export credit notes”)			25,000	25,000	25,000	25,000	100,000
NCR (“Rural producer certificates”)						1,998,270	1,998,270
Debentures	2,340,550	2,335,130		748,466		2,938,061	8,362,207
	2,758,955	2,761,071	233,464	975,878	194,959	7,788,519	14,712,846
	9,764,239	10,022,977	7,623,213	4,281,259	10,672,755	30,050,002	72,414,445

18.3.Roll-forward of loans, financing and debentures


	December 31, 2023	December 31, 2022

Opening balance	74,574,591	79,628,629
Fundraising, net of issuance costs	10,944,794	1,335,715
Interest accrued	4,797,094	4,007,737
Monetary and exchange rate variations, net	(4,185,675)	(3,949,020)
Payment of principal	(4,296,447)	(2,517,934)
Payment of interest	(4,728,998)	(4,019,072)
Amortization of fundraising costs	67,333	69,649
Others (fair value adjustments to business combinations)		18,887
Closing balance	77,172,692	74,574,591

18.4.Breakdown by currency


	December 31, 2023	December 31, 2022

Brazilian Reais	15,868,019	13,347,244
US Dollars	61,304,673	61,216,140
Currency basket		11,207
	77,172,692	74,574,591

18.5.Fundraising costs

The fundraising costs are amortized based on the terms of agreements and the effective interest rate.


			Balance to be amortized
Type	Cost	Amortization	December 31, 2023	December 31, 2022

Bonds	434,970	270,145	164,825	210,822
NCE	125,222	122,526	2,696	10,838
Export credits (“export prepayments”)	196,526	144,364	52,162	75,520
Debentures	123,216	20,981	102,235	9,984
BNDES	63,588	53,734	9,854	12,016
IFC - International Finance Corporation	41,943	3,032	38,911
Others	18,147	17,549	598	873
	1,003,612	632,331	371,281	320,053

18.6.Guarantees

Some loan and financing agreements have guarantees clauses, in which the financed equipment or other property, plant and equipment is offered as collateral by the Company, as disclosed in Note 15.1.

The Company does not have contracts with restrictive financial clauses (financial covenants) which must be complied with.

18.7.Relevant transactions entered into during the year

18.7.1.BNDES

On June 27, 2023, the Company raised R$500,000 from BNDES indexed to the Long-Term Rate ("TLP"), plus a fixed interest rate of 5.23% p.a., with a principal grace period of 7 (seven) years and maturity in December 2037. The funds were allocated to projects in the forestry sector.

On October 20, 2023, the Company raised the amount of R$539,000 from BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 6.97% p.a., with 6 (six) years and maturity in December 2037. The resources were allocated to forestry projects.

On October 30, 2023, the Company raised the amount of R$100,000 from BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 7.11% p.a., with 1 (one) year and maturity in October 2042. The resources were allocated to industrial projects.

On December 28, 2023, the Company raised the amount of R$100,000 from BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 7.41% p.a., with 2 (two years and maturity in December 2043. The resources were allocated to industrial projects.

18.7.2.International Finance Corporation (“IFC”)

On December 22, 2022, the Company obtained a new credit line ("A&B Loan") to be financed by the International Finance Corporation (IFC) and a syndicate of commercial banks, in a total amount of US$600,000 (equivalent to R$2,891,520).

The financing consists of the following parts: (i) "A-loan" in the amount of US$250,000 (equivalent to R$1,204,800) with IFC's own resources, at a cost of Term SOFR + 1.80% p.a. and a total term of eight years, with a principal grace period of six years; and (ii) "B-loan," a syndicated loan in the amount of US$350,000 (equivalent to R$1,686,720) at a cost of Term SOFR + 1.60% p.a. and a total term of seven years, with a principal grace period of five years.

This credit line was fully utilized by June 30, 2023.

The credit line has sustainability performance indicators (KPIs) linked with goals for: (a) reducing greenhouse gas (GHG) emissions intensity, and (b) increasing the representation of women in leadership positions within the Company. This credit line aims to fund the Cerrado Project.

On December 14, 2023, the Company obtained an additional credit, known as “B-Loan Tranche 2”, a syndicated loan in the amount of US$195,000 (equivalent to R$953,784) at the cost of Term SOFR + 1.80% p.a. and a total term of eight years, with a grace period of six years for the principal. As of December 31, 2023, the amount had not yet been used.

18.7.3.Advance of exchange contract (“ACC”)

On May 19, 2023, the Company raised US$100,000 (equivalent to R$481,920) from BNP Paribas at a pre-fixed rate of 6.00% in US dollars, with maturity in May 2024.

On June 21, 2023, the Company raised US$35,000 (equivalent to R$168,672) from BNP Paribas at a pre-fixed rate of 6.52% in US dollars, with maturity in June 2024.

18.7.4.Debentures

On June 29, 2023, the Company issued common debentures, non-convertible into shares, unsecured, in two series, which were object of a public offer in the amount of R$1,000,000.

The debenture consists of two parts: (i) an amount of R$500,000 at a cost of IPCA + 6.0188% p.a. and a total term of seven years, with a single maturity on June 15, 2030; and (ii) an amount of R$500,000 at a cost of IPCA + 6.2477% p.a. and a total term of ten years, with a single maturity on July 15, 2033.

On September 18, 2023, the Company issued common debentures, not-convertible into shares, unsecured, in a single serie, which were subject of a public offer for distribution in the amount of R$2,000,000, with a rate corresponding to IPCA + 6.1889% p.a. with a term of 15 years, due on September 15, 2038.

18.7.5.Rural Credit Note

On August 9, 2023, the Company raised a rural credit note from Banco Safra in the amount of R$2,000,000 with a post-fixed rate of CDI + 1.25% p.a. with final maturity in August 2030.

18.7.6.Export Prepayment

On August 25, 2023, the Company raised an export prepayment with the bank JP Morgan in the amount of US$150,961 (equivalent to R$736,266), at a rate floating in Term SOFR 6M + 1.93% p.a., with final maturity in January 2029.

18.8.Significant transactions settled during the year

On June 22, 2023, the Company settled a CRA contract in the amount of R$685,239 (principal and interest), with an original maturity in June 2023 and a cost of IPCA + 5.9844% p.a.

On August 9, 2023, the Company settled, in advance, a rural credit note and two export credit notes, with Banco Safra, in the total amount of R$1,616,500 (principal and interest). The original debt maturities were in June and August 2026, and the rates were between CDI + 0.99% p.a. and CDI + 1.03% p.a.

On August 15, 2023, the Company settled a CRA contract, in the amount of R$561,502 (principal and interest), with original maturity in August 2023 and at the cost of IPCA + 5.9844% p.a.

On August 25, 2023, the Company settled, in advance, an export prepayment, with JP Morgan bank, in the total amount of US$118,653 (equivalent to R$587,333 (principal and interest)). The original maturity of the debt was in June 2024 with a pre-fixed rate in reais of 7.70% p.a.

On December 14, 2023, the Company settled a CRA contract, in the amount of R$741,228 (principal and interest), with original maturity in December 2023 and at the cost of IPCA + 6.1346% p.a.

LEASES

12 Months Ended

Dec. 31, 2023

Presentation of leases for lessee [abstract]

LEASES

19. LEASES

19.1.Right of use

The balances rolled forward are set out below:


	Lands	Machinery and equipment	Buildings	Ships and boats	Vehicles	Total

Balance as of December 31, 2021	2,868,411	86,464	88,410	1,748,008	2,730	4,794,023
Additions/updates	849,996	66,821	61,647		4,216	982,680
Depreciation (1)	(360,225)	(40,732)	(64,301)	(124,890)	(2,303)	(592,451)
Write-offs (2)	(75,026)					(75,026)
Balance as of December 31, 2022	3,283,156	112,553	85,756	1,623,118	4,643	5,109,226
Additions/updates	496,236	206,847	101,124		9,702	813,909
Depreciation (1)	(386,436)	(134,587)	(59,448)	(124,890)	(2,346)	(707,707)
Write-offs (2)	(12,658)				(6,139)	(18,797)
Balance as of December 31, 2023	3,380,298	184,813	127,432	1,498,228	5,860	5,196,631

(1)The amount of depreciation related to land is substantially reclassified to biological assets to make up the formation costs.

(2)Write-off due to cancellation of contracts.

For the year ended December 31, 2023 and 2022, the Company does not have commitments to lease agreements not yet in force.

19.2.Lease liabilities

The balance of lease payables on December 31, 2023, measured at present value and discounted at the respective discount rates are set forth below:


Nature of agreement	Average rate – % p.a. (1)	Maturity (2)	Present value of liabilities

Lands and farms	12.52	September, 2051	3,711,023
Machinery and equipment	11.43	April, 2035	259,482
Buildings	10.84	December, 2033	122,066
Ships and boats	11.39	February, 2039	2,145,682
Vehicles	11.29	November, 2028	5,529
			6,243,782

(1)To determine the discount rates, quotes were obtained from financial institutions for agreements with characteristics and average terms similar to the lease agreements.

(2)Refers to the original maturities of the agreements and, therefore, does not consider eventual renewal clauses.

The balances rolled forward are set out below:


	December 31, 2023	December 31, 2022

Opening balance	6,182,530	5,893,194
Additions	813,909	982,680
Write-offs	(18,797)	(75,026)
Payments	(1,218,399)	(1,044,119)
Accrual of financial charges (1)	664,651	612,042
Exchange rate variations	(180,112)	(186,241)
Closing balance	6,243,782	6,182,530

Current	753,399	672,174
Non-current	5,490,383	5,510,356

(1)On December 31, 2023, the amount of R$223,055 related to interest expenses on leased lands was capitalized to biological assets to represent the formation cost (R$178,429 as of December 31, 2022).

The maturity schedule for future payments not discounted to present value related to lease liabilities is disclosed in Note 4.2.

19.2.1.Amounts recognized in the statement of income for the year

The amounts recognized are set out below:


	December 31, 2023	December 31, 2022

Expenses relating to short-term assets	8,005	6,836
Expenses relating to low-value assets	2,611	1,580
	10,616	8,416

PROVISION FOR JUDICIAL LIABILITIES

12 Months Ended

Dec. 31, 2023

Disclosure of other provisions [abstract]

PROVISION FOR JUDICIAL LIABILITIES

20. PROVISION FOR JUDICIAL LIABILITIES

The Company is involved in certain legal proceedings arising in the normal course of its business, which include tax, social security, labor, civil, environment and real estate.

The Company classifies the risk of unfavorable decisions in legal proceedings, based on legal advice, which reflects the estimated probable losses.

The Company’s Management believes that, based on the available information as of the date of these consolidated financial statements, its provisions for tax, social security, labor, civil, environment and real estate risks, accounted for according to IAS 37 are sufficient to cover estimated losses related to its legal proceedings, as set forth below:

20.1.Roll-forward and changes in the provisions for probable losses based on the nature of the proceedings, net of judicial deposits


	December 31, 2023
	Tax and social security	Labor	Civil, environment and real estate	Contingent liabilities assumed (1) (2)	Total

Provision balance at the beginning of the year	419,915	255,805	118,729	2,645,705	3,440,154
Payments	(1,717)	(37,172)	(3,014)		(41,903)
Reversals	(18,035)	(101,375)	(11,337)	(490,160)	(620,907)
Additions	37,656	211,690	21,335		270,681
Monetary adjustment	31,020	20,110	13,722		64,852
Provision balance	468,839	349,058	139,435	2,155,545	3,112,877
Judicial deposits	(154,469)	(82,305)	(15,694)		(252,468)
Provision balance at the end of the year	314,370	266,753	123,741	2,155,545	2,860,409

(1)Amounts arising from tax-related lawsuits with a possible or remote probability of loss in the amount of R$2,015,075 and civil lawsuits in the amount of R$140,470, measured and recorded at the estimated fair value resulting from the business combination with Fibria.

(2)Reversal due to a change in likelihood, cancellation and/or due to settlement. The amount of R$372,541 refers to the penalty cancellation of the contingent liability assumed on the business combination with Fibria, described in note 20.2.1(i).


	December 31, 2022
	Tax and social security	Labor	Civil, environment and real estate	Contingent liabilities assumed (1) (2)	Total

Provision balance at the beginning of the year	477,096	178,925	82,592	2,694,541	3,433,154
Payments	(14,948)	(44,516)	(20,497)		(79,961)
Reversals	(71,446)	(53,211)	(15,577)	(48,836)	(189,070)
Additions	14,036	157,562	56,834		228,432
Monetary adjustment	15,177	17,045	15,377		47,599
Provision balance	419,915	255,805	118,729	2,645,705	3,440,154
Judicial deposits	(149,951)	(12,270)	(21,623)		(183,844)
Provision balance at the end of the year	269,964	243,535	97,106	2,645,705	3,256,310

(1)Amounts arising from tax-related lawsuits with a possible or remote probability of loss in the amount of R$2,448,564 and civil lawsuits in the amount of R$197,141, measured and recorded at the estimated fair value resulting from the business combination with Fibria.

(2)Reversal due to a change in likelihood and/or due to settlement.

20.1.1.Tax and social security

On December 31, 2023, the Company has 32 (thirty-two) (31 (thirty-one) as of December 31, 2022) administrative and judicial proceedings of a tax or social security nature in which the disputed matters are related to IRPJ, CSLL, PIS, COFINS, ICMS among others, whose amounts are provisioned when the likelihood of loss is deemed probable by the Company’s external legal counsel and by Management.

20.1.2.Labor

On December 31, 2023, the Company has 1,241 (one thousand, two hundred forty-one) (1,117 (one thousand, one hundred and seventeen) as of December 31, 2022) labor lawsuits.

In general, the provisioned labor proceedings are related primarily to matters frequently contested by employees of agribusiness companies, such as wages and/or severance payments, in addition to suits filed by outsourced employees of the Company.

20.1.3.Civil, environment and real estate

On December 31, 2023, the Company has 76 (seventy-six) (66 (sixty-six) as of December 31, 2022) civil, environmental and real estate proceedings.

The provisioned Civil, environment and real estate proceedings are related primarily to the payment of damages, including those arising from contractual obligations, traffic-related injuries, possessory actions, environmental restoration obligations, claims and others.

20.2.Contingencies with possible losses

The Company is involved in tax, civil and labor lawsuits, whose losses have been assessed as possible by Management, supported by legal counsel, and therefore no provision was recorded:


	December 31, 2023	December 31, 2022

Taxes and social security (1)	9,775,068	8,201,246
Labor	194,883	321,428
Civil and environmental (1)	4,462,964	4,414,877
	14,432,915	12,937,551

(1)The amounts above do not include the fair value adjustments allocated to possible loss risk contingencies representing R$2,135,869 (R$2,614,518 as of December 31, 2022), which were recorded at fair value resulting from business combinations with Fibria as presented in Note 20.1. above.

20.2.1.Tax and social securities

For the year ended December 31, 2023, the Company had 733 (seven hundred and thirty-three) (766 (seven hundred and sixty-six) as of December 31, 2022) tax proceedings whose likelihood of loss is considered possible, in the total amount of R$9,775,068 (R$8,201,246 as of December 31, 2022) for which no provision was recorded.

The other tax and social security lawsuits refer to various taxes, such as IRPJ, CSLL, PIS, COFINS, ICMS, ISS, Withholding Income Tax (“IRRF”), PIS and COFINS, mainly due to differences of interpretation regarding the applicable tax rules and information provided in the accessory obligations.

The most relevant tax cases are set forth below:

(i)Income tax assessment - IRPJ/CSLL - Swaps of industrial and forestry assets: in December 2012, the Company received a tax assessment for the collection of income tax and social contribution, alleging unpaid tax on a capital gain in February 2007, the closing date of the transaction, when the Company executed an agreement with International Paper regarding a swap of industrial and forestry assets.

On January 19, 2016, the Tax Federal Administrative Court (Conselho Administrativo de Recursos Fiscais – “CARF”) rejected, as per the casting vote of the CARF’s President, the appeal filed by the Company in the administrative process. The Company was notified of the decision on May 25, 2016 and, due to the impossibility of a new appeal and the consequent closure of the case at the administrative level, decided to continue the discussion with the Judiciary. The lawsuit was judged in a favorable manner to the Company's interests and the appeal of the National Treasury is currently awaiting judgment at the lower court. In December 2023, in view of the terms of article 25, § 9ºA, of Law No. 14,689/23, the Active Debt Certificates were rectified in order to definitively cancel the amounts related to the tax assessment penalty and its charges. On the opinion of the Company and its external legal advisors the probability of loss in this case is possible, except for the provisioning of the amount equivalent to the contingent liability assumed arising from the business combination. In the year ended December 31, 2023 the estimated amount of the possible exposure is R$1,630,537 (R$2,505,970 as of December 31, 2022).

(ii)Income tax assessment - IRPJ/CSLL: This is an administrative proceeding initiated in October 2023, arising from IRPJ and CSLL infraction notices drawn up against Suzano S.A., in relation to the calendar year 2019. Imputed infractions regarding (i) non-deductible expenses; (ii) improper deduction of operating expenses; (iii) profits earned by the subsidiaries abroad; (iv) goodwill amortization; (v) lack of addition of bonus paid to directors to the CSLL calculation basis, and (vi) tax loss and negative CSLL basis. The Company filed an administrative objection, currently pending judgment at the first administrative level.

In the year ending December 31, 2023, the total amount of the possible exposure is R$845,164.

(iii)Income tax assessment - IRPJ/CSLL - disallowance of depreciation, amortization and depletion expenses – 2010. In December 2015, the Company received a tax assessment requiring the payment of IRPJ and CSLL, questioning the deductibility of depreciation, amortization and depletion expenses of 2010 included by the Company in the calculation of the income tax expense. We presented administrative appeals within the legal period, which were judged partially valid. The decision was subject to a voluntary recourse, presented by the Company in November 2017. The judgment was converted into a due diligence, and currently, the Company is waiting for the completion of the due diligence. In the year ended December 31, 2023 the total amount of the possible exposure is R$827,186 (R$777,362 as of December 31, 2022).

(iv)Tax Assessment - Corporate Income Tax and Social Contribution: on October 5, 2020, the Company was notified of the tax assessment issued by the Brazilian Internal Revenue Service claiming the payment of Corporate Income Tax and Social Contribution, resulting from the remeasurement of the profit of its subsidiary Suzano Trading Ltd in the years ended December 31, 2014, 2015 and 2016. Besides the Company, the Statutory Executive Officers (“Officers”) of Suzano Trading were also included as co-defendants. The Company, based on the opinion of its legal advisors, considered the risk of loss as possible with reference to the Company and, with reference to the Officers, also possible but with a higher chance of winning (possible to remote). The Company presented the administrative defense and, currently, through Resolution No.104000033, the judgment was converted into a diligence, which is awaiting the beginning. In the year ended December 31, 2023 the total amount of the possible exposure is R$563,723 (R$516,433 as of December 31, 2022).

(v)PIS/COFINS – Goods and services – 2009 to 2011: in December 2013, the Company was assessed by the Brazilian Federal Revenue Service demanding the collection of PIS and COFINS credits which were disallowed because they are not allegedly linked to its operating activities. In the first instance, the objection filed by the Company was dismissed. After the Voluntary Appeal was filed, it was partially obtained in April 2016. Following this decision, the National Treasury filed a Special Appeal to the Superior Chamber, which is still pending judgment and the Company filed a Statement of Appeal, which was partially accepted. The total amount of the possible exposure in December 31, 2023 is R$190,875 (R$180,219 as of December 31, 2022).

(vi)Tax assessment - taxation on a universal basis - year 2015: on November 3, 2020, the Company received a tax assessment for the collection of income tax and social contribution, alleging unpaid tax for the calendar year 2015, due to the failure to include in the calculation the taxable income and social contribution the profits earned by the subsidiaries abroad. The Company, based on the legal advisors, considered the risk of loss as possible. The Company presented the administrative defense. At the lower court, the objection filed by the Company was partially upheld. Thus, in view of the decision, a Voluntary Appeal was filed, which is currently pending judgment. In the year ended December 31, 2023 the total amount of exposure is R$176,917 (R$163,059 as of December 31, 2022).

(vii)Tax incentive - Agency for the Development of Northeastern Brazil (“ADENE”): in 2002 the Company’s request was granted by the Brazilian Federal Revenue Service (“Receita Federal do Brasil”) to benefit from reductions in corporate income tax and non-refundable surcharges calculated on operating profits (as defined) for Aracruz facilities A and B (period from 2003 to 2013) and plant C (period from 2003 to 2012), when the qualification reports for the tax reductions were approved by SUDENE.

In 2004, the Company was served an Official Notice by the liquidator of the former Superintendence for the Development of the Northeast (“SUDENE”), who reported that the right to use the benefit previously granted was unfounded and would be cancelled. In 2005, the Brazilian Federal Revenue Service served the Company an assessment notice requiring the payment of the tax incentive mounts claimed, plus interest. After administrative discussions, the assessment notice was partially upheld, and recognized the Company’s right to the tax incentive through 2003.

The Company's Management, supported by its legal counsel, believes that the decision to cancel the tax benefits is erroneous and should not be upheld, either with respect to the benefits already used, or with respect to benefits not used until the final relevant periods.

The contingency is being discussed in the judicial sphere. Currently awaiting publication of the decision that dismissed the Motion for Clarification. In the year ended December 31, 2023 the total amount of the possible exposure is R$143,912 (R$136,733 as of December 31, 2022).

(viii) Offsetting - IRRF - period 2000: the Company filed a lawsuit for the offsetting of IRRF credits measured in the year ended December 31, 2000, with debts owed to the Brazilian Federal Revenue Service. In April 2008, the Brazilian Federal Revenue Service partially recognized the credit in favor of the Company. Following this decision, the Company filed a Voluntary Appeal with CARF, and the judgment was converted into a diligence. Currently, we are waiting for the start of the due diligence. In the year ended December 31, 2023 the total amount of the possible exposure is R$120,871 (R$116,105 as of December 31, 2022).

(ix) IRPJ/CSLL - partial approval: the Company requested approval to offset tax losses for the year 1997 with amounts owed to the tax authorities. The authorities approved in March 2009, only R$83,000, which generated a difference of R$51,000. The Company is still awaiting the conclusion of the analysis of the credits discussed at the administrative level following a favorable decision from CARF in August 2019, which granted the Voluntary Appeal filed by the Company. For the remaining credit, the Company has appealed the rejection of the tax credits and obtained a partially favorable decision, and the final decision is currently under discussion in the judicial level. Shortly afterwards, an appeal was filed, which was judged in session, determining the conversion of the done in diligence. In the year ended December 31, 2023, the total amount of the possible exposure is R$117,130 (R$111,775 as of December 31, 2022).

(x) Income tax assessment - IRPJ/CSLL: Administrative process requiring the collection of IRPJ and CSLL for the 2015 calendar year. Infractions are alleged regarding (i) transfer pricing; and (ii) non-deductible expenses. The Company filed an objection in January 2020, which was partially upheld. The Voluntary Appeal presented by the Company is currently awaiting judgment. In the year ended December 31, 2023, the total amount of the possible exposure is R$106,477 (R$97,515 as of December 31, 2022).

(xi) Income tax assessment - IRPJ/CSLL: This is a Decision Order that partially approved the compensation carried out by the Company, due to the use of credits arising from Negative Balance, arising from withholding at source, calculated in the period of January 2016 to December 2016. The Company filed an administrative objection, currently pending judgment at the first administrative level. In the year ended December 31, 2023, the total amount of the possible exposure is R$102,496 (R$93,232 as of December 31, 2022).

20.2.2.Labor

On December 31, 2023, the Company was a defendant in 1,034 (one thousand thirty-four) labor lawsuits, totaling R$194,883 (1,248 (one thousand, two hundred and forty-eight) labor lawsuits, totaling R$321,428 as of December 31, 2022).

The Company also has several lawsuits in which employees’ unions in the states of Bahia, Espírito Santo, Maranhão, São Paulo and Mato Grosso do Sul are included.

20.2.3.Civil, environmental and real estate

On December 31, 2023, the Company was a defendant in approximately 219 (two hundred and nineteen) civil, environmental and real estate lawsuits, totaling R$4,462,964 (221 (two hundred and twenty-one) lawsuits totaling R$4,414,877 as of December 31, 2022).

In general, the civil and environmental proceedings in which the Company, including its subsidiaries, is a defendant, are mainly related to discussions regarding eligibility for environmental licenses, repair of environmental damage, matters relating to indemnities, including those arising from discussions about contractual obligations, precautionary measures, possessory actions, damage repair and revision actions, actions aimed at the recovery of credits (collection actions, monitoring, execution, credit qualifications related to bankruptcy and judicial recovery), actions of social movements interest, such as landless workers, quilombola communities, indigenous people and fishers, and actions resulting from traffic accidents. The Company has a general civil liability insurance policy that aims to cover, within the limits contracted in the policy, any legal convictions arising from damages to third parties (including employees).

The most relevant civil cases are set forth below:

(i)We are involved in 2 (two) Public Civil Claims (“Ação Civil Pública”) filed by the Federal Public Prosecution Office, requesting: (i) a preliminary injunction to prohibit the Company’s trucks from transporting wood in federal highways above legal weight restrictions; (ii) an increase in the fines for cases of overweight loads; and (iii) compensation for damages allegedly caused to federal highways, the environment and the economic order, and compensation for moral damages. One of the Claims was ruled partially against the Company. Suzano presented an appeal to the Court of Appeals, requesting interim relief to stay the effects of such ruling until a final decision is reached. The other ACP was dismissed and an appeal is pending. In September 2021, both were suspended by decision of the STJ to evaluate the points of discussion in the form of a repetitive appeal. Not yet scheduled for judgment.

(ii)The Company also sued a competitor from the midwest region due to the improper and unauthorized use of a variety of eucalyptus protected by intellectual property rights (cultivar) of the merged subsidiary Fibria. The prohibition against the cultivation of this biological asset by the competitor is protected by an injunction still in force, which was confirmed in a sentence favorable to the Company, and, currently, the procedure for liquidating the sentence by the Company has been initiated. It should be noted that, even before the said sentence, the competitor handled an action to cancel the registration of the cultivar, but, so far, there has been no decision in this process capable of restricting the Company’s right.

(iii)In November 2020, a maritime logistics provider initiated an arbitration proceeding against the Company following the early termination of the contract. The counterparty pleads the execution of a put option clause (imposing the ownership and acquisition of barges) supposedly provided for in the contract as a penalty for early termination, as well as for the payment of alleged losses and damages suffered as a result of the termination. Suzano, in turn, claims that the put option is not due and, even if it had been due, the put option clause is abusive within the economic relationship under the contract. The demand was judged partially valid and the parties decided to enter into an agreement, which had already been approved on September 11, 2023 by the Arbitration Court, bringing this arbitration to an end.

(iv)The Company is still a defendant in 2 (“two”) ACPs, filed in 2015 by the Federal Public Ministry (“MPF”) and the National Institute for Colonization and Agricultural Reform (“INCRA”) against the merged subsidiary Fibria, from the State of Espírito Santo and BNDES, aiming at nullifying some property titles granted by the State to the Company in the municipalities of Conceição da Barra and São Mateus. The decisions, issued by the judge of the 1st instance of Federal Justice, declare the these titles invalid and demanded the return of these properties to the State. The decisions rendered are not final, and the Company has filed appropriate appeals for the reversal of this decision in the 2nd instance. It is important to highlight that the properties whose titles were discussed in the ACPs add up to a total of approximately 10,500 hectares, and of this total, according to Suzano’s best information, only approximately 4,000 hectares are included in the demarcation procedures initiated by INCRA in favor of quilombola communities in the region. None of these demarcation procedures has been finalized. Suzano is the legitimate owner of the properties under discussion, and will continue to discuss the matter in court, in order to prove in court the legality of the acquisitions made at the time of acquisition.

(v)Among the environmental lawsuits, 1 (“one”) ACPs filed by the MPF in the northeast region of Brazil stand out, challenging the jurisdiction of the state environmental agency to grant environmental licenses. The MPF alleges that the environmental licensing procedures related to our industrial plant in the state of Maranhão must be carried out by the Federal Environment Agency (“IBAMA”). The risks involved are delays to the Company’s planting schedule, and the suspension of activities at the Maranhão industrial unit until a new license is issued. We believe that there are good chances of defense in this case, since IBAMA does not recognize that it has the competence to execute the licensing process, and there is no clear legal basis to support such jurisdiction.

(vi)In addition, the Company are involved in 1 (“one”) ACP filed by the MPF regarding the negative impacts of operations in the Baixo Parnaíba Region. The MPF claims that the occupation of these areas caused socio-environmental impacts in eastern Maranhão. Currently, the action is in the preparatory phase, with the beginning of the expert procedures. The Company believes that there is a remote chance of loss in this case, since the report used to support the requests was made unilaterally, and will be questioned during the expert investigation.

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2023

Disclosure of information about defined benefit plans [abstract]

EMPLOYEE BENEFIT PLANS

21. EMPLOYEE BENEFIT PLANS

The Company offers supplementary pension plans and defined benefit plans, such as medical assistance and life insurance, as set forth below:

21.1.Pension plan

The Company has current supplementary retirement plans, as disclosed below.

21.2.1.Pension plan – Suzano Prev

In 2005, the Company established the Suzano Prev pension plan, managed by BrasilPrev, an open private pension entity, which serves the employees of Suzano Group Companies, in the form of a defined contribution plan.

Under the terms of the benefit plan agreement, for employees who have a salary above 10 Suzano reference units (“URS”), in addition to the 0.5% contribution, the contributions of the company follow the employees’ contributions, and affect the portion of the salary that exceeds 10 URS, which can vary between 1% and 6% of the nominal salary. This plan is called Basic Contribution 1.

The Company’s contributions to the employees are 0.5% of the nominal salary that does not exceed 10 URS, even though there is no contribution by the employees. This plan is called Basic Contribution 2.

From August 2020, employees who have a salary lower than 10 URS will be able to invest 0.5% or 1.0% of their nominal salary, and the Company will monitor the employee’s contributions. The employee can choose to invest up to 12% of their salary in the Suzano Prev pension plan, and the excess of Basic Contribution 1 or 2 may be invested in the supplementary contribution, where there is no counter-entry from the Company, and the employee must consider the two contributions within the limit of 12% of the salary.

Access to the balance constituted by the Company’s contributions only occurs upon dismissal, and is directly related to the length of the employment relationship.

Contributions made by the Company for the year ended December 31, 2023 totaled R$18,342 recognized under employee benefits (R$15,248 as of December 31, 2022, including the balance from Fundação Senador José Ermírio de Moraes – Funsejem, terminated in July 2020).

The Company offers the following post-employment benefits in addition to the pension plans, which are measured based on actuarial calculations and recognized in the financial statement, as detailed below.

21.2.Defined benefits plan

The Company offers the following post-employment benefits in addition to the pension plans, which are measured based on actuarial calculations and recognized in the financial statement, as detailed below.

21.2.1.Medical assistance

The Company guarantees healthcare program cost coverage for a group of former employees who retired up to 2007, as well as their spouses for life and underage dependents.

For other groups of former employees, who exceptionally, according to the Company’s criteria and resolutions or based on rights related to compliance with pertinent legislation, the Company ensures the healthcare program.

The main actuarial risks related are: (i) lower interest rates; (ii) longer than expected mortality tables; (iii) higher than expected turnover; and (iv) higher than expected growth in medical costs.

21.2.2.Life insurance

The Company offers the life insurance benefit to the group of former employees who retired up to 2005 at the Suzano and São Paulo administrative offices, and did not opt for the supplementary retirement plan.

The main actuarial risks are: (i) lower interest rates; and (ii) higher than expected mortality.

21.2.3.Roll-forward of actuarial liability

The roll-forward of actuarial liabilities prepared based on actuarial report is set forth below:


	December 31, 2023	December 31, 2022

Opening balance	691,424	675,158
Interest on actuarial liabilities	67,272	58,420
Current service cost	1,959	838
Actuarial loss – experience	57,765	74,794
Actuarial loss (gain) – financial assumptions	70,762	(62,563)
Exchange rate variations		(577)
Benefits paid directly by entity	(55,499)	(54,646)
Closing balance	833,683	691,424

21.2.4.Economic actuarial assumptions and biometric data

The main economic actuarial assumptions and biometric data used in the actuarial calculations are set forth below:


	December 31, 2023					December 31, 2022

Economic
Nominal discount rate – medical assistance and life insurance		9.14	%	p.a.			10.07	%	p.a.
Medical cost growth rate		6.86	%	p.a.			6.86	%	p.a.
Nominal inflation		3.50	%	p.a.			3.50	%	p.a.
Aging factor	0 to 24 years:	1.50	%	p.a.		0 to 24 years:	1.50	%	p.a.
	25 to 54 years:	2.50	%	p.a.		25 to 54 years:	2.50	%	p.a.
	55 to 79 years:	4.50	%	p.a.		55 to 79 years:	4.50	%	p.a.
	Above 80 years:	2.50	%	p.a.		Above 80 years:	2.50	%	p.a.
Biometric
Table of general mortality		AT-2000					AT-2000
Table of mortality of disabled persons		IAPB 57					IAPB 57
Turnover		1.00	%	p.a.			1.00	%	p.a.
Other
Retirement age		65 years					65 years
	Men 4 years + old					Men 4 years + old
Family composition	and 90% married					and 90% married
Permanency in the plan		100			%		100			%

21.2.5.Sensitivity analysis

The sensitivity analysis regarding the relevant assumptions of the plans show the impact on the liability balance:

Discount rate

Medical costs growth rate

+0.50%

852,688

+1.00%

896,842

21.2.6.Forecast amounts and average duration of payments of obligations

The expected benefit payments for future years (ten years), from the obligation of benefits granted and the average duration of the plan obligations are as set forth below:


Payments						Medical assistance and life insurance

2024						50,482
2025						53,893
2026						57,429
2027						61,010
2028						64,717
2029 to 2033						376,635

SHARE-BASED COMPENSATION PLAN

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [abstract]

SHARE-BASED COMPENSATION PLAN

22. SHARE-BASED COMPENSATION PLAN

For the year ended December 31, 2023 , the Company has 3 (three) share-based, long-term compensation plans: (i) Phantom stock option plan (“PS”); (ii) Share Appreciation Rights (“SAR”), both settled in local currency; and (iii) restricted shares, settled in shares.

The characteristics and measurement method of each plan are disclosed below.

22.1.Long term compensation plans (“PS and SAR”)

Certain executives and key members of Management have a long-term compensation plan linked to the share price, with payment in cash.

Under the PS plan, the beneficiary does not make any investments, and under the SAR plan, the beneficiaries should invest 5% of the total amount corresponding to the number of options on phantom shares at the grant date, and 20% after 3 (three) years to acquire the option. The Company also granted long-term incentive plans to its key members as part of its retention policy.

The vesting period of options may vary from 3 (three) to 5 (five) years, as of the grant date, in accordance with the characteristics of each plan.

The share price is calculated based on the average share quote for the 90 previous trading sessions, starting from the closing quote on the last business day of the month prior to the month of the grant. The installments of these programs will be adjusted by the variation in the prices on the SUZB3 at B3, between the granting and the payment period. On dates when the SUZB3 shares are not traded, the quote of the previous trading session will be considered.

The phantom share options will only be due if the beneficiary is an employee of the Company on the payment date. In case of termination by the employee, before the vesting period is completed, the executive will not be entitled to receive all benefits, unless otherwise established in the agreements.

The roll-forward arrangements are set out below:


	December 31, 2023	December 31, 2022	December 31, 2021
	Number of shares

Opening balance	7,583,185	5,415,754	5,772,356
Granted during of the year	3,391,581	4,152,200	1,906,343
Exercised (1)	(871,208)	(1,474,506)	(1,860,334)
Exercised due to resignation (1)	(30,800)	(175,552)	(86,196)
Abandoned/cancelled due to resignation	(344,333)	(334,711)	(316,415)
Closing balance	9,728,425	7,583,185	5,415,754

(1)The average price of the share options exercised and exercised due to termination of employment on December 31, 2023 was R$58.07 (fifty-eight reais and seven cents) (R$48.79 (forty-eight reais and seventy-nine cents) as of December 31, 2022).

On December 31, 2023, the consolidated outstanding phantom shares option plans is as set out below:


Grant date	Fair value on grant date(1)	Quantity of outstanding options granted

04/01/2019	42.81	39,461
04/01/2020	38.50	93,619
05/01/2020	38.34	890,542
03/01/2021	57.88	545,861
04/01/2021	64.12	1,163,149
07/01/2021	67.72	8,516
08/02/2021	63.73	3,969
10/01/2021	58.05	2,524
01/17/2022	55.18	68,099
03/01/2022	56.52	794,178
04/01/2022	58.64	2,624,219
06/02/2022	55.43	3,789
08/01/2022	51.00	3,832
10/01/2022	47.71	192,605
01/09/2023	49.69	15,094
02/01/2023	50.46	1,328
03/01/2023	50.59	1,050,901
04/01/2023	48.06	2,152,208
06/01/2023	47.18	1,842
07/01/2023	44.07	20,751
07/10/2023	43.86	9,120
07/11/2023	43.82	34,231
10/01/2023	45.79	6,552
10/03/2023	48.15	2,035
		9,728,425

(1)Amounts expressed in Reais.

22.2.Restricted shares plan

The Company also offers a Restricted Shares plan based on the Company’s performance (“Restricted Shares Program”). The plan associates the quantity of restricted shares granted to the Company’s performance, which in 2023 was linked to the operating cash generation and culture, diversity and inclusion target. The quantity of the restricted stock granted is defined in financial terms, and is subsequently converted into shares based on the last 60 (sixty) stock exchange trading days on December 31, 2023 of SUZB3 at B3.

After the measurement of the target, which takes place 12 months after the execution of the contract, the restricted shares will be granted immediately (conditional on the achievement of the established goals), as they do not have to comply with the vesting period. However, the beneficiaries of the grant must comply with the lockup period of thirty-six (36) months during which they will not be able to sell the shares.

In the event that the beneficiaries leave the Company before the end of the fiscal year for the measurement of operating cash generation, they will lose the right to the grant of restricted shares.

The position is set forth below:


Grant date	Fair value on grant date (1)	Shares Granted	Restricted year for transfer of shares

01/02/2021	51.70	111,685	01/02/2024
01/02/2022	53.81	113,161	01/02/2025
01/02/2023	52.00	101,164	01/02/2026
01/02/2023	49.58	161,355	01/02/2026
01/02/2024	53.63	105,384	01/02/2027
		592,749

(1)Amounts expressed in Reais.

22.3.Measurement assumptions

In the case of the phantom shares plans since the settlement takes place in cash, the fair values of the options are remeasured at the end of each period based on the Monte Carlo Method, which is multiplied by the Total Shareholder Return (“TSR”) during the period, which varies between 75% and 125%, depending on the performance of SUZB3 in relation to its peers in Brazil.

The restricted stock plan considers the following assumptions:

(i)The expectation of volatility was calculated for each exercise date, considering the remaining time to complete the vesting year, as well as the historical volatility of returns, using the GARCH model for calculating volatility;

(ii)The expected average life of phantom stocks and stock options was defined by the remaining term to the limit exercise date;

(iii)The expected dividends were defined based on the historical earnings per share of Suzano; and

(iv)The risk-free weighted average interest rate used was the Brazilian Reais yield curve (DI expectation) observed on the open market, which is the best comparison basis for the Brazilian market risk-free interest rate. The rate used for each exercise date changes according to the vesting year.

The amounts corresponding to the services received and recognized are set forth below:


	Liabilities and Equity		Statement of income and Equity
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022	December 31, 2021

Non-current liabilities
Provision for phantom stock plan	268,489	162,117	(154,318)	(75,542)	(94,897)
Equity
Stock options granted	26,744	20,790	(8,319)	(5,335)	(4,843)
Shares granted		(2,365)		2,365
	26,744	18,425	(8,319)	(2,970)	(4,843)
			(162,637)	(78,512)	(99,740)

LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES

12 Months Ended

Dec. 31, 2023

LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES

LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES

23. LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES


	December 31, 2023	December 31, 2022

Assets acquisitions
Vitex/Parkia (1)		1,758,365
		1,758,365
Business combinations
Facepa (2)	25,924	42,655
Vale Florestar Fundo de Investimento em Participações (“VFFIP”) (3)	161,263	261,302
	187,187	303,957
	187,187	2,062,322

Current	93,405	1,856,763
Non-current	93,782	205,559

(1)On June 22, 2022, the Company acquired all the shares of the Parkia structure companies, in the amount of US$667,000 (equivalent to R$3,444,255 on the date of execution of the agreement), upon the payment of US$330,000 (equivalent to R$1,704,054 on the date of the transaction), on June 22, 2023, the payment of the second installment in the amount of US$337,000 (equivalent to R$1,615,140 on the transaction date) was made.

(2)Acquired in March 2018, for the amount of R$307,876, upon the payment of R$267,876, with the remainder updated at the IPCA, adjusted for possible losses incurred up to the payment date, with maturity in March 2028.

(3)On August 2014, the Company acquired Vale Florestar S.A. through VFFIP, for a total amount of R$528,941 upon the payment of R$44,998, and the remainder with maturity up to August 2029. The annual settlements, carried out in the month of August, are subject to interest and updated by the variations of the US Dollar exchange rate, and partially updated by the IPCA.

LONG-TERM COMMITMENTS	12 Months Ended
LONG-TERM COMMITMENTS	Dec. 31, 2023
Capital commitments [abstract]
LONG-TERM COMMITMENTS	24. LONG-TERM COMMITMENTS The Company entered into long-term take-or-pay agreements with chemicals, transportation and natural gas suppliers. These agreements contain termination and supply interruption clauses in the event of defaults on certain essential obligations. Generally, the Company purchases the minimum amounts agreed under the agreements, and hence there is no liability recorded in the amount that is recognized each month. The total contractual obligations assumed on December 31, 2023 were equivalent to R$14,606,380 per year (R$14,875,422 at December 31, 2022).

SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2023

Disclosure of classes of share capital [abstract]

SHAREHOLDERS' EQUITY

25. SHAREHOLDERS’ EQUITY

25.1.Share capital

On December 31, 2023, Suzano’s share capital was R$9,269,281 divided into 1,324,117,615 common shares, all nominative, book-entry shares without par value. Expenses related to the public offering were R$33,735, totaling a net share capital of R$9,235,546. The breakdown of the share capital is as set out below:


	December 31, 2023		December 31, 2022
	Quantity	(%)	Quantity	(%)

Controlling Shareholders
Suzano Holding S.A.	367,612,329	27.76	367,612,329	27.01
Controller	196,065,636	14.81	195,064,797	14.33
Managements and related persons	32,105,783	2.42	34,102,309	2.51
Alden Fundo de Investimento em Ações	26,154,744	1.98	26,154,744	1.91
	621,938,492	46.97	622,934,179	45.76
Treasury (Note 25.5)	34,765,600	2.63	51,911,569	3.81
Other shareholders	667,413,523	50.40	686,417,836	50.43
	1,324,117,615	100.00	1,361,263,584	100.00

For the year ended December 31, 2023, SUZB3 common shares were quoted at R$55.63 (fifty-five reais and sixty-three cents) (R$48.24 (forty-eight reais and twenty-four cents)) on December 31, 2022).

25.2.Dividends and reserve calculations

The Company’s bylaws establishes that the minimum annual dividend shall be the lower of:

(i)25% of the adjusted net income for the year pursuant to Article 202 of Brazilian Law No.6,404/76; or

(ii)10% of the Company’s consolidated operating cash generation (“GCO”) for the year.

In the year ended December 31, 2023, based on the criteria defined in the bylaws, mandatory minimum dividends were determined in accordance with item (ii) above, as set forth below:


	December, 31 2023	December, 31 2022

Accounting EBITDA	19,537,398	29,630,671
Non-recurring and/or non-cash items	(1,264,428)	(1,435,769)
Adjusted EBTIDA	18,272,970	28,194,902
Capex Maintenance (Sustain)	(6,706,367)	(5,631,234)
GCO = Adjusted EBTIDA - Capex Maintenance	11,566,603	22,563,668

Dividends (10%) - Art. 26, "c" of the Bylaws	1,156,660	2,256,367
Interest on own capital distributed and dividends (1)	1,500,000	2,350,000
Withholding income tax	(190,119)
Interest on own capital distributed in excess (2)	(153,221)
Additional dividends		(93,633)

(1)On December 31, 2023, refers to Interest on own capital (Note 1.2.7).

(2)Considering that the distribution of Interest on own capital in the year ending in 2023 exceeded the minimum mandatory dividends, the Company does not expect to propose additional dividends at the next shareholders' meeting.

25.3.Reserves

25.3.1.Capital reserve

They consist of amounts received by the Company arising from transactions with shareholders that do not pass through the income statement and may be used to absorb losses when they exceed profit reserves and redemptions, reimbursements and purchases of shares.

25.3.2.Income reserves

Reserves are constituted by the allocation of the Company’s profits, after the allocation for the payment of the minimum mandatory dividends and after the allocation to the various profit reserves, as set forth below:

(i)Legal: measured based on 5% (five percent) of the net profit of each fiscal year as specified in Article 193 of Brazilian Law No. 6,404/76, which shall not exceed 20% (twenty percent) of the share capital, whereas in the year in which the balance of the legal reserve plus the capital reserve amounts exceeds 30% (thirty percent) of the share capital, the allocation of part of the profit will not be mandatory. The use of this reserve is restricted to loss compensation and capital increases, and aims to ensure the integrity of the share capital. For the year ended December 31, 2023, the balance of this reserve is R$1,847,109 (R$1,404,099 as of December 31, 2022).

(ii)Capital increase: measured on the basis of up to 90% (ninety percent) of the remaining balance of the net income for the year, limited to 80% (eighty percent) of the share capital, pursuant to the Company’s bylaws, after the allocation to the legal reserve and minimum mandatory dividends. The constitution of this reserve aims to ensure the Company has adequate operating conditions. For the year ended December 31, 2023, the balance of this reserve is R$15,670,952 (R$19,732,050 as of December 31, 2022).

(iii)Special statutory: measured on the basis of up to 10% (ten percent) of the remaining balance of net income for the year, and aims to ensure the continuity of the distribution of dividends, up to the limit of 20% of the share capital. For the year ended December 31, 2023, the balance of this reserve is R$1,887,576 and (R$2,192,442 as of December 31, 2022).

(iv)Tax incentives: it is measured as specified in Article 195-A of Brazilian Law No. 6,404/76, modified by Brazilian Law No. 11,638/07 and based on a proposal by the management bodies, it will allocate the portion of net income arising from donations or government grants for investment, which are excluded from the calculation basis of the mandatory dividend. Pursuant to Article 30 of Law No. 12,973/14 and Article 19 of Decree No. 1,598/77, the Company, based on the profit for the year, constituted its tax incentive reserve, including the incentives that: (i) were absorbed by a loss; (ii) would have been recognized in previous years, if profits had been recorded; and (iii) in the current year. For the year ended December 31, 2023, the balance of this reserve is R$998,237 (R$879,278 as of at December 31, 2022).

(v)Investment reserve: constituted in accordance with article 196 of Law No. 6,404/76, modified by Law No. 11,638/07, profit retention is carried out based on a capital budget. This practice aims to meet the needs of the Company's investment plan, previously approved at the Ordinary General Meeting. In the year ended December 31, 2023, the balance of this reserve is R$14,972,324.

The next shareholders' meeting will deliberate on the accumulated income reserve balance that exceeds the limit established in the Company’s bylaws.

25.4.Other reserves

These are changes that occur in shareholders’ equity arising from transactions and other events that do not originate with shareholders and are disclosed net of tax effects, as set forth below:


	Debenture conversion 5th issue	Actuarial loss	Exchange variation and fair value of financial assets	Exchange variation on conversion of financial statements of foreign subsidiaries	Deemed cost	Total

Balances at December 31, 2021	(45,746)	(137,191)	7,844	252,311	2,037,689	2,114,907
Actuarial loss		(7,608)				(7,608)
Loss on conversion of financial assets and fair value			(5,681)			(5,681)
Loss on conversion of financial statements and on foreign investments				(249,093)		(249,093)
Partial realization of deemed cost, net of taxes					(133,009)	(133,009)
Balances at December 31, 2022	(45,746)	(144,799)	2,163	3,218	1,904,680	1,719,516
Actuarial loss		(84,828)				(84,828)
Loss on conversion of financial assets and fair value			(865)			(865)
Gain on conversion of financial statements and on foreign investments				5,178		5,178
Partial realization of deemed cost, net of taxes					(100,705)	(100,705)
Balances at December 31, 2023	(45,746)	(229,627)	1,298	8,396	1,803,975	1,538,296

25.5.Treasury shares

In the year ended December 31, 2023, , the Company had 34,765,600 (51,911,569 as of December 31, 2022) of treasury shares, with an average cost of R$42.69 (forty-two reais and sixty-nine cents) (R$40.84 forty reais and eighty-four cents as of December 31, 2022) per share, with a historical value of R$1,484,014 (R$2,120,324 as of December 31, 2022) and the fair value corresponding to R$1,934,010 (R$2,504,214 as of December 31, 2022).

On February 28, 2023, 37,145,969 common shares were cancelled, as described in Note 1.2.5.

In the year ended December 31, 2023, the Company had repurchased 20,000,000 common shares with a total of R$880,914, at an average cost of R$44.05.


	Quantity	Average cost per share	Historical value	Market value

Balances at December 31, 2021	12,042,004	18.13	218,265	656,530
Exercised	(130,435)	18.13	(2,365)	(8,156)
Repurchase	40,000,000	47.61	1,904,424	1,904,424
Balances at December 31, 2022	51,911,569	40.84	2,120,324	2,504,214
Repurchase	20,000,000	44.05	880,914	880,914
Canceled	(37,145,969)	40.84	(1,517,224)	(1,570,532)
Balances at December 31, 2023	34,765,600	42.69	1,484,014	1,934,010

25.6.Distribution of results


	Limit on share capital%		Distribution of results		Reserve balances
			December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Realization of deemed cost, net of taxes			(100,705)	(133,009)
Tax incentive reserve			118,959	66,871	998,237	879,278
Legal reserve	20	%	443,010	1,169,080	1,847,109	1,404,099
Capital increase reserve	80	%	10,911,226	17,937,885	15,670,952	19,732,050
Special statutory reserve	20	%	1,212,358	1,993,098	1,887,576	2,192,442
Investment reserve					14,972,324
Capital reserve					26,744	18,425
Unclaimed dividends forfeited				(2,308)
Proposed minimum mandatory dividends				2,256,367
Proposed additional dividend				93,633
Interest on own capital			1,500,000
			14,084,848	23,381,617	35,402,942	24,226,294

EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

EARNINGS (LOSS) PER SHARE

26. EARNINGS PER SHARE

26.1.Basic

The basic earnings (loss) per share is measured by dividing the profit attributable to the Company’s shareholders by the weighted average number of common shares issued during the period, excluding the common shares acquired by the Company and held as treasury shares.


	December 31, 2023	December 31, 2022	December 31, 2021

Resulted of the year attributable to controlling shareholders	14,084,848	23,381,617	8,626,386
Weighted average number of shares in the year – in thousands	1,330,020	1,361,264	1,361,264
Weighted average treasury shares – in thousands	(32,827)	(31,043)	(12,042)
Weighted average number of outstanding shares – in thousands	1,297,193	1,330,221	1,349,222
Basic earnings (loss) per common share – R$	10.85794	17.57724	6.39360

26.2.Diluted

The diluted earnings (loss) per share is measured by adjusting the weighted average of outstanding common shares, assuming the conversion of all common shares with dilutive effects.


	December 31, 2023	December 31, 2022	December 31, 2021

Resulted of the year attributed to controlling shareholders	14,084,848	23,381,617	8,626,386
Weighted average number of shares during the year (except treasury shares) – in thousands	1,297,193	1,330,221	1,349,222
Average number of potential shares (stock options) - in thousands	487	317	327
Weighted average number of shares (diluted) – in thousands	1,297,680	1,330,538	1,349,549
Diluted earnings (loss) per common share – R$	10.85387	17.57305	6.39205

NET FINANCIAL RESULT

12 Months Ended

Dec. 31, 2023

NET FINANCIAL RESULT

NET FINANCIAL RESULT

27. NET FINANCIAL RESULT


	December 31, 2023	December 31, 2022	December 31, 2021

Financial expenses
Interest on loans, financing and debentures (1)	(3,636,730)	(3,648,330)	(3,188,654)
Early settlement premium expenses			(260,289)
Amortization of transaction costs (2)	(67,353)	(69,881)	(107,239)
Interest expenses on lease liabilities (3)	(441,596)	(433,613)	(560,619)
Amortization of fair value adjustments		(18,887)	(5,543)
Other	(513,483)	(419,659)	(98,957)
	(4,659,162)	(4,590,370)	(4,221,301)
Financial income
Cash and cash equivalents and marketable securities	1,668,408	818,780	205,574
Amortization of fair value adjustments to business combinations			9,110
Other	157,241	148,230	57,872
	1,825,649	967,010	272,556
Results from derivative financial instruments
Income	10,149,730	11,969,288	5,582,352
Expenses	(4,623,016)	(5,207,721)	(7,180,014)
	5,526,714	6,761,567	(1,597,662)
Monetary and exchange rate variations, net
Exchange rate variations on loans, financing and debentures	4,185,675	3,949,020	(4,847,320)
Leases	180,112	186,241	(194,415)
Other assets and liabilities (3)	(1,278,060)	(840,668)	1,240,908
	3,087,727	3,294,593	(3,800,827)
Net financial result	5,780,928	6,432,800	(9,347,234)

(1)Excludes R$1,160,364 arising from capitalized loan costs, substantially related to property, plant and equipment in progress of the Cerrado Project for the year ended December 31, 2023 (R$359,407 as of December 31, 2022).

(2)Includes expense of R$19 arising from transaction costs on loans and financing that were recognized directly in the statement of income (R$232 as of December 31, 2022).

(3)Includes R$223,055 referring to the reclassification to the biological assets item for the composition of the formation cost (R$178,429 as of December 31, 2022).

(4)Includes effects of exchange rate variations of trade accounts receivable, trade accounts payable, cash and cash equivalents, marketable securities and others.

NET SALES

12 Months Ended

Dec. 31, 2023

Disclosure of disaggregation of revenue from contracts with customers [abstract]

NET SALES

28. NET SALES


	December 31, 2023	December 31, 2022	December 31, 2021

Gross sales	47,601,020	59,550,424	48,479,827
Sales deductions
Returns and cancellations	(155,950)	(91,291)	(69,764)
Discounts and rebates	(5,526,032)	(7,459,520)	(5,717,412)
	41,919,038	51,999,613	42,692,651
Taxes on sales	(2,163,463)	(2,168,667)	(1,727,220)
Net sales	39,755,575	49,830,946	40,965,431

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2023

Disclosure of operating segments [abstract]

SEGMENT INFORMATION

29. SEGMENT INFORMATION

29.1.Criteria for identifying operating segments

The Board of Directors and Board of Statutory Executive Officers evaluates the performance of the Company’s business segments through EBITDA.

The operating segments defined by the Company’s management are set forth below:

i) Pulp: comprised of the production and sale of hardwood eucalyptus pulp and fluff pulp, mainly to supply the foreign market.

ii) Paper: comprises the production and sale of paper to meet the demands of both the domestic and foreign markets. Consumer goods (tissue) sales are classified under this segment due to their immateriality.

Information related to total assets by reportable segment is not disclosed, as it is not included in the set of information made available to the Company’s management, which makes investment decisions and determines the allocation of resources on a consolidated basis.

In addition, with respect to geographical information related to non-current assets, the Company does not disclose such information, as all property, plant and equipment, biological and intangible assets are in Brazil.

29.2.Information of operating segments


	December 31, 2023
	Pulp		Paper		Total

Net sales	30,677,265		9,078,310		39,755,575
Domestic market (Brazil)	2,144,199		6,719,093		8,863,292
Foreign markets	28,533,066		2,359,217		30,892,283
Asia	13,588,032		72,133		13,660,165
Europe	8,701,141		302,131		9,003,272
North America	5,682,010		476,429		6,158,439
South and Central America	558,601		1,437,181		1,995,782
Africa	3,282		71,343		74,625
EBITDA	16,052,028		3,485,370		19,537,398
Depreciation, depletion and amortization					(7,321,110)
Operating profit before net financial income (“EBIT”) (1)					12,216,288
EBITDA margin (%)	52.33	%	38.39	%	49.14	%

(1)(“Earnings before interest and tax”).


	December 31, 2022
	Pulp		Paper		Total

Net sales	41,384,322		8,446,624		49,830,946
Domestic market (Brazil)	2,665,746		5,858,892		8,524,638
Foreign markets	38,718,576		2,587,732		41,306,308
Asia	18,294,046		4,059		18,298,105
Europe	12,768,321		325,503		13,093,824
North America	7,055,625		608,734		7,664,359
South and Central America	592,360		1,641,277		2,233,637
Africa	8,224		8,159		16,383
EBITDA	26,098,309		3,532,362		29,630,671
Depreciation, depletion and amortization					(7,407,890)
Operating profit before net financial income (“EBIT”) (1)					22,222,781
EBITDA margin (%)	63.06	%	41.82	%	59.46	%

(1)(“Earnings before interest and tax”).


	December 31, 2021
	Pulp		Paper		Total

Net sales	34,715,208		6,250,223		40,965,431
Domestic market (Brazil)	2,338,810		4,380,585		6,719,395
Foreign markets	32,376,398		1,869,638		34,246,036
Asia	15,952,786		43,961		15,996,747
Europe	10,477,292		318,666		10,795,958
North America	5,694,273		424,909		6,119,182
South and Central America	233,061		1,026,247		1,259,308
Africa	18,986		55,855		74,841
EBITDA	22,735,409		2,486,445		25,221,854
Depreciation, depletion and amortization					(7,041,663)
Operating profit before net financial income (“EBIT”) (1)					18,180,191
EBITDA margin (%)	65.49	%	39.78	%	61.57	%

(1)(“Earnings before interest and tax”).

29.3.Net sales by product


Products	December 31, 2023	December 31, 2022	December 31, 2021

Market pulp (1)	30,677,265	41,384,322	34,715,208
Printing and writing paper (2)	7,567,320	6,912,984	5,107,960
Paperboard	1,417,075	1,421,338	1,091,588
Other	93,915	112,302	50,675
	39,755,575	49,830,946	40,965,431

(1)Net sales of fluff pulp represent approximately 0.78% of total net sales, and therefore were included in market pulp net sales. (0.80% as of December 31, 2022).

(2)Net sales of tissue represent approximately 5.14% of total net sales, and therefore were included in printing and writing paper net sales. (2.3% as of December 31, 2022).

With regard to the foreign market revenues of the pulp operating segment, China and the USA are the main countries in terms of net revenue, 41.36% and 15.32%, respectively, for the year ended December 31, 2023 (China and the USA represented 42.12% and 14.08%, respectively, on December 31, 2022).

With regard to the foreign market revenues of the paper operating segment, Argentina and the USA, are the main countries in relation to net revenue, representing 23.68% and 19.49%, respectively, for the year ended December 31, 2023 (USA, Peru and Argentina represented 23.49%, 9.04% and 19.81% respectively, on December 31, 2022).

There is no other individual foreign country that represents more than 10% of net revenue in the foreign market for the years ended December 31, 2023 and December 31, 2022.

29.4.Goodwill based on expected future profitability

The goodwill based on expected future profitability arising from the business combination was allocated to the disclosable segments, which correspond to the Company’s cash-generating units (“CGUs”), considering the economic benefits generated by such intangible assets. The allocation of goodwill is set out below:


	December 31, 2023	December 31, 2022

Pulp	7,897,051	7,897,051
Paper	290,191	119,332
	8,187,242	8,016,383

RESULTS BY NATURE

12 Months Ended

Dec. 31, 2023

Expenses by nature [abstract]

RESULTS BY NATURE

INCOME (EXPENSES) BY NATURE


	December 31, 2023	December 31, 2022	December 31, 2021

Cost of sales
Personnel expenses	(1,450,428)	(1,467,896)	(1,174,460)
Costs of raw materials, materials and services	(10,981,883)	(11,463,862)	(8,731,670)
Logistics costs	(4,341,369)	(4,795,161)	(4,328,046)
Depreciation, depletion and amortization	(6,718,474)	(6,406,610)	(5,988,248)
Other (1)	(1,584,521)	(687,759)	(393,164)
	(25,076,675)	(24,821,288)	(20,615,588)
Selling expenses
Personnel expenses	(281,673)	(244,681)	(219,590)
Services	(173,494)	(146,184)	(121,568)
Logistics costs	(1,067,031)	(1,065,416)	(947,551)
Depreciation and amortization	(952,033)	(951,626)	(944,361)
Other (2)	(122,146)	(75,287)	(58,652)
	(2,596,377)	(2,483,194)	(2,291,722)

General and administrative expenses
Personnel expenses	(1,172,538)	(1,039,733)	(984,513)
Services	(406,001)	(378,986)	(330,727)
Depreciation and amortization	(118,771)	(101,764)	(103,867)
Other (3)	(225,918)	(189,284)	(158,802)
	(1,923,228)	(1,709,767)	(1,577,909)

Other operating (expenses) income net
Rents and leases	3,971	2,164	3,321
Results from sales of other products, net	79,046	58,880	31,865
Results from sales and disposals of property, plant and equipment, intangible and biological assets, net	(331,285)	(509)	413,052
Result from fair value adjustments of biological assets	1,989,831	1,199,759	763,091
Depletion, amortization and other PPA realizations (4)	468,168	52,110	(5,187)
Tax credits - gains in tax lawsuits (exclusion of ICMS from the PIS/COFINS calculation basis)		(1,324)	441,880
Provision for judicial liabilities	(167,563)	(156,243)
Other operating income (expenses), net	34,204	(33,121)	45
	2,076,372	1,121,716	1,648,067

(1)Includes R$650,592 related to maintenance downtime, costing (R$525,882 as of December 31, 2022).

(2)Includes expected credit losses, insurance, materials for use and consumption, travel, accommodation, trade fairs and events.

(3)Includes, substantially, corporate expenses, insurance, materials for use and consumption, social programs and donations, travel and accommodation.

(4)Refers, substantially, to the write-off of contingent liabilities assumed in Fibria's PPA as disclosed in note 20.1.

INSURANCE COVERAGE	12 Months Ended
INSURANCE COVERAGE	Dec. 31, 2023
INSURANCE COVERAGE
INSURANCE COVERAGE	31. INSURANCE COVERAGE The Company has insurance coverage for operational risks, with a maximum coverage of US$1,000,000 corresponding to R$4,841,300. Additionally, the Company has insurance coverage for civil general liabilities in the amount of US$20,000 corresponding to R$96,826 as of December 31, 2023. The Company’s Management considers these amounts adequate to cover any potential liabilities, risks and damage to its assets, and any loss of profits. The Company does not have insurance coverage for its forests. To mitigate the risk of fire, the Company maintains internal fire brigades, a watchtower network, and a fleet of fire trucks. There is no history of material losses arising from forest fires. The Company has a domestic transportation insurance policy with a maximum coverage of R$60,000 and international policy in the amount of US$75,000 corresponding to R$363,098, effective through May 2024, and renewable for an additional 18 months. In addition, it has insurance coverage for civil responsibility of Directors and Executives (“D&O”) at amounts considered adequate by Management. The assessment of the sufficiency of insurance coverage is not part of the scope of the examination of the financial statements by the independent auditors.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2023
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS	32. EVENT AFTER THE REPORTING PERIOD 32.1.Cancellation of shares and new share buyback program On January 26, 2024, the Board of Directors approved the cancellation of 20,000,000 common shares, with an average cost of R$42.69 (forty-two reais and sixty-nine cents) per share, in the amount of R$853,725, which were held in treasury, without changing the share capital and against the balances of retained earnings reserves available. After the cancellation of the shares, the share capital of R$9,269,281 is divided into 1,304,117,615 common shares, all nominative, book-entry and with no par value. The Company decided on a new share buyback program, in which it may acquire up to a maximum of 40,000,000 (forty million) common shares of its own issue with a maximum period of 18 (eighteen) months.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
New accounting policies and changes in accounting policies adopted	New accounting policies and changes in accounting policies adopted The new standards and interpretations issued, until the issuance of the Company’s consolidated financial statements, are described below. 3.1.1.Amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements – Disclosure of Accounting Policies (applicable for annual periods beginning on/or after January 1, 2023) The amendments change the requirements in IAS 1 with regard to the disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence the decisions that the primary users of the financial statements make on the basis of those financial statements. The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions is immaterial, and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material. The Company assessed the content of this pronouncement and did not identify any impacts. 3.1.2.Amendments to IAS 8 Definition of Accounting Estimates (applicable for annual periods beginning on/or after January 1, 2023) The amendments replace the definition of a change in accounting estimates with a definition of accounting estimates. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty”. The definition of a change in accounting estimates was deleted. However, the Board retained the concept of changes in accounting estimates in the Standard through the following clarifications: (i)A change in accounting estimates that results from new information or new developments does not constitute the correction of an error (ii)The effects of a change in an input or a measurement technique used to develop an accounting estimate represent changes in accounting estimates if they do not result from the correction of prior period errors The Company assessed the content of this pronouncement and did not identify any impacts. 3.1.3.Amendments to IAS 12 – Deferred tax related to assets and liabilities arising from a single transaction (applicable for annual periods beginning on/or after January 1, 2023) The amendments introduce a further exception to the initial recognition exemption. Under the amendments, an entity may not apply the initial recognition exemption for transactions that give rise to equal taxable and deductible temporary differences. Depending on the applicable tax law, equal taxable and deductible temporary differences may arise from the initial recognition of an asset and liability in a transaction that is not a business combination and affects neither the accounting nor the taxable profit. For example, this may arise upon the recognition of a lease liability and the corresponding right-of-use asset, applying IFRS 16 at the commencement date of a lease. Following the amendments to IAS 12, an entity is required to recognize the related deferred tax asset and liability, with the recognition of any deferred tax asset being subject to the recoverability criteria in IAS 12. The amendments apply to transactions that occur on or after the beginning of the earliest comparative period presented. In addition, at the beginning of the earliest comparative period, an entity recognized: (i)A deferred tax asset (to the extent that it is probable that taxable profits will be available against which the deductible temporary difference can be utilized) and a deferred tax liability for all deductible and taxable temporary differences associated with: •Right-of-use assets and lease liabilities; and •Decommissioning, restoration and similar liabilities and the corresponding amounts recognized as part of the cost of the related asset. (ii)The cumulative effect of initially applying the amendments as an adjustment to the opening balance of retained earnings (or another component of equity, as appropriate) at that date. The Company assessed the content of this pronouncement and did not identify any impacts. 3.1.4.Amendment to IAS 12 – Taxes on Profit – International Tax Reform – Pillar Two Model Rules In December 2021, the Organisation for Economic Co-operation and Development (“OECD”) released of the Pillar Two model, to reform international corporate taxation to ensure that multinational economic groups, covered by such regulations, contribute an effective minimum tax at the rate 15% on profit. Each country's effective profit tax rate, as calculated by this model, is called the GloBE (Global Anti-Base Erosion Rules) effective tax rate. These rules await approval in the local legislation of each country. In May 2023, the International Accounting Standards Board issued scope changes to IAS 12 - Income Taxes, aiming to grant a temporary exemption in the accounting for deferred taxes resulting from enacted or substantially enacted legislation relating to the implementation of OECD Pillar Two. The Company and its subsidiaries are currently in the process of evaluating the impact on the implementation of Pillar Two rules and the calculation of GloBE revenue.
Consolidated financial statements	Accounting policies adopted 3.2.1.Consolidated financial statements The consolidated financial statements were prepared based on the financial information of Suzano and its subsidiaries in the year ended December 31, 2023 (except for associates Ensyn and Spinnova), and in accordance with consistent accounting practices and policies. The Company consolidates all subsidiaries over which it has direct or indirect control, that is, when it is exposed or has rights to variable returns on the basis of its investment with the subsidiary, and has the capacity and ability to direct the relevant activities of the subsidiary. Additionally, all transactions and balances between Suzano and its subsidiaries, associates and joint ventures are eliminated in the consolidated financial statements, as well as unrealized gains or losses arising from these transactions, net of tax effects. Non-controlling interests are highlighted.
Subsidiaries	Subsidiaries These include all entities for which the Company has the power to govern the financial and operating policies, generally through a majority of voting rights. The Company controls an entity when the Company is exposed to, or has rights to, variable returns on its investment in the investee, and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control is obtained and de-consolidated from the date on which control ceases.
Joint operations	Joint operations These include all entities for which the Company maintains contractually established control over its economic activity, and exists only when the strategic, financial and operational decisions regarding the activity requiring the unanimous consent of the parties sharing control. In the consolidated financial statements, the balance of assets, liabilities, revenue and expenses are recognized proportionally to the interest in joint operations.
Associated and joint ventures	Associated and joint ventures These include all entities initially recognized at cost and adjusted thereafter for the equity method, being increased or reduced from its interest in the investee’s income after the acquisition date. In the investments in associates, the Company must have significant influence, which means the power to participate in the financial and operating policy decisions of the investee, without having control or joint control over those policies. In investments in joint ventures, there is a contractually agreed sharing of control through an arrangement, which exists only when decisions about the relevant activities requiring the unanimous consent of the parties sharing control. In relation to the associates Ensyn and Spinnova, the equity is measured based on the latest available information and does not have a material impact on the consolidated financial statements and, if any significant event had occurred up to December 31, 2023, it would be adjusted in the consolidated financial statements.
Translation of financial statements to functional and presentation currency	Translation of financial statements into the functional and presentation currency The Company defined that, for all its wholly owned subsidiaries, the functional and presentation currency is the Brazilian Real, except for investments in associates abroad related to Ensyn Corporation, F&E Technologies LLC, Spinnova, Woodspin and Celluforce, with functional currencies other than the Real, the accumulated gains or losses of which affect the conversion of the financial statements, which are recorded in other comprehensive income, in equity. The individual financial information of each of the subsidiaries, included in the consolidated financial statement, are prepared in the local currency in which the subsidiary operates and are translated into the Company’s functional and presentation currency. 3.2.5.1.Transactions and balances in foreign currency These are translated using the following criteria: (i)Monetary assets and liabilities are translated at the exchange rate in effect at year-end; (ii)Non-monetary assets and liabilities are translated at the historical rate of the transaction; (iii)Revenue and expenses are translated based on monthly average rate; and (iv)The cumulative effects of gains or losses upon translation are recognized in the other comprehensive income.
Hyperinflationary economies	The cumulative translation adjustment (“CTA”) arising from the translation of a foreign operation previously recognized in other comprehensive income are reclassified from equity to profit or loss at the disposal of the operations. The total or partial disposal of interest in wholly-owned subsidiaries occurs through sale or dissolution, of all or part of operation. 3.2.6.Hyperinflationary economies Entities based in Argentina, a country considered to have a hyperinflationary economy, are subject to the requirements of IAS 29 - Financial Reporting in Hyperinflationary Economies. Non-monetary items, as well as income and expenses, are adjusted by the changes in the inflation index between the initial recognition and the closing date, so the balances are stated at their current value. However, the Company’s wholly-owned subsidiary, based in Argentina, has the Real as its functional currency, and therefore is not considered an entity with a hyperinflationary currency, and does not present its individual financial statements in accordance with IAS 29 - Financial Reporting in Hyperinflationary Economies. The financial statements are presented at historical cost.
Business combinations	Business combinations These are accounted for using the acquisition method when control is transferred to the acquirer. The cost of an acquisition is the sum of the consideration paid, evaluated based on the fair value at the acquisition date, and the amount of any non-controlling interest in the acquiree. For each business combination, the Company recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquirer’s net assets. The costs directly attributable to the acquisition are recorded as expenses when they are incurred, except for costs related to the issuance of debt instruments or equity instruments, which are presented as reductions in debt or equity, respectively. In a business combination, assets acquired and liabilities assumed are evaluated in order to classify and allocate them, assessing the terms of the agreement, the economic circumstances and other conditions at the acquisition date. Goodwill is initially measured as the excess of the consideration paid over the fair value of the net assets acquired. After initial recognition, goodwill is measured at cost, net of any accumulated impairment losses. For the purpose of impairment testing, the goodwill recognized in a business combination, as from the acquisition date, is allocated to each of the Company’s cash generating units. Gains on an advantageous purchase are recognized immediately in the result. The borrowing costs are recorded in the income statement as they are incurred. Contingent liabilities related to tax, civil and labor, classified in the acquired company as possible and remote risks, are recognized by the acquirer at their fair values. Transactions involving the acquisition of shares with shared control over the net assets traded are evaluated in accordance with the complementary guidance to IFRS 3 - Business Combinations, IFRS 11 and IAS 28 - Investments in Associates and Joint Ventures to evaluate initial recognition criteria. For the investments defined based on the equity method, investments are initially recognized at cost. The carrying amount of the investment is adjusted for the recognition of changes in the Company's share of the acquirer's Shareholders' equity as at the acquisition date. Goodwill is measured and segregated from the carrying amount of the investment. Other intangible assets identified in the transaction shall be allocated in proportion to the interest acquired by the Company, based on the difference between the carrying amounts recorded in the acquired entity and its fair value assets, which may be amortized.
Segment information	Segment information An operating segment is a component of the Company that carries out business activities from which it can obtain revenue and incur expenses. The operating segments reflect how the Company’s management reviews the financial information used to make decisions. The Company’s management has identified two reportable segments, which meet the quantitative and qualitative disclosure requirements. The segments identified for disclosure mainly represent sales channels.
Cash and cash equivalents	Cash and cash equivalents Include cash on hand, bank deposits and highly liquid short-term investments with maturities, upon acquisition, of 90 days or less, which are readily convertible into known amounts of cash and subject to an insignificant risk of changes in value.
Financial instruments	Financial instruments 3.2.10.1.Classification Financial instruments are classified based on the purpose for which the financial instruments were acquired, as set forth below: (i)Amortized cost; (ii)Fair value through other comprehensive income; and (iii)Fair value through profit or loss. Regular purchases and sales of financial assets are recognized on the trade date, meaning the date on which the Company commits to purchase or sell the asset. Financial instruments are derecognized when the rights to receive cash flow from the investments have expired or have been transferred, substantially, all of the risks and rewards of ownership. 3.2.10.1.1.Financial instruments measured at amortized cost Financial instruments held by the Company: (i) in order to receive their contractual cash flow and not to sell to realize a profit or loss; and (ii) whose contractual terms give rise, on specified dates, to cash flow that exclusively represents payments of principal and interest on the principal amount outstanding. Any changes are recognized under financial income (expenses) in the income statement. It includes the balance of cash and cash equivalents, trade accounts receivable, dividends receivable and other assets, classified as financial assets and the balances of suppliers, loans, financing and debentures, lease payables, accounts payable for the acquisition of assets and subsidiaries, , dividends and interest on own capital payable and other liabilities, all of which are classified as financial liabilities. 3.2.10.1.2.Financial instruments at fair value through other comprehensive income Financial instruments at fair value through other comprehensive income are financial assets held by the Company: (i) either to receive their contractual cash flow through sale with the realization of a profit or loss; and (ii) whose contractual terms give rise, on specified dates, to cash flows constituting, exclusively, repayments of principal and interest on the principal amount outstanding. In addition, this category includes investments in equity instruments where, upon initial recognition, the Company elected to present subsequent changes in its fair value within other comprehensive income. Any changes are recognized under net financial income (expenses) in the income statement, except for the fair value of investments in equity instruments, which are recognized in other comprehensive income. Includes the balance presented in Note 14.1 as “Other investments evaluated at fair value through other comprehensive income. 3.2.10.1.3.Financial instruments at fair value through profit or loss Financial instruments at fair value through profit or loss are either designated in this category or not classified in any of the other categories. Any changes are recognized within financial income (expenses) in the income statement for non-derivative financial instruments and for financial derivative instruments within income from derivative financial instruments. This category includes the balance of marketable securities, classified as financial assets financial and derivative financial instruments, including embedded derivatives, stock options, classified as financial assets and liabilities. 3.2.10.2.Impairment of financial assets 3.2.10.2.1.Financial instruments measured at amortized cost Annually, the Company assesses whether there is evidence that a financial asset is impaired. A financial is impaired only if there is evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset, and that loss event has an impact on the estimated future cash flow of the financial asset that can be estimated reliably. The criteria the Company uses to determine whether there is evidence of an impairment loss includes: (i)Significant financial difficulty of the issuer or debtor; (ii)Defaults on or late payment of interest or principal under the agreement; (iii)Where the Company, for economic or legal reasons relating to the borrower’s financial difficulty, grants to the borrower a concession that a lender would not otherwise consider; (iv)It becomes probable that the borrower will enter bankruptcy or other financial reorganization; (v)The disappearance of an active market for that financial asset because of financial difficulties; and (vi)Observable data indicating a measurable decrease in the estimated future cash flow from a portfolio of financial assets after the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio. The amount of an impairment loss is measured at the difference between the carrying amount of the asset and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate. If the financial asset is impaired, the carrying amount of the asset is reduced and a loss is recognized in the income statement. If, in a subsequent remeasurement, if there is an improvement in the asset rating, such as an improvement in the debtor’s credit rating, the reversal of the previously recognized impairment loss is recognized in the income statement. 3.2.10.2.2.Financial assets at fair value through other comprehensive income The Company periodically evaluates, when measuring fair value, whether there is evidence that a financial asset is impaired. For such financial assets, a significant or prolonged decrease in the fair value of the security below its cost is evidence that the assets are impaired. If any such evidence exists, an impairment loss measured at the difference between the acquisition cost and the current fair value, less any loss previously recognized in other comprehensive income, shall be recognized in the income statement.
Derivative financial instruments and hedging activities	Derivative financial instruments and hedging activities Derivative financial instruments are recognized at fair value on the date on which the derivative agreement is entered into and are subsequently remeasured at fair value. Changes in fair value are recorded within the results of derivative financial instruments in the income statement. Embedded derivatives in non-derivative main contracts are required to be separated when their risks and characteristics are not closely related to those of the respective main contracts, and these are not measured at fair value through profit or loss. Non-option embedded derivatives are separated from the respective main contracts in accordance with the stated or implied substantive terms, so they have a zero fair value upon initial recognition.
Trade accounts receivables	Trade accounts receivable These are recorded at their invoiced amounts, in the normal course of the Company´s business, adjusted for exchange rate variations where denominated in foreign currency and, if applicable, net of expected credit losses. The Company applies an aging-based provision matrix with appropriate groupings for its portfolio. When necessary, based on individual analyses, the provision for expected losses is supplemented. The Company examines the maturity of receivables on a monthly basis and identifies those customers with overdue balances, assessing the specific situation of each client, including the risk of loss, the existence of contracted insurance, letters of credit, collateral and the customer’s financial situation. In the event of default, collection attempts are made, which include direct contact with customers and collection efforts through third parties. Should these efforts prove unsuccessful, legal measures are considered, and expected credit losses are recognized. The notes are written off from the credit expected loss when Management considers that they are not recoverable after taking all appropriate measures to collect them.
Inventories	Inventories These are evaluated at the average acquisition or formation cost of the finished products, net of recoverable taxes, not exceeding their net realizable value. Finished products and work-in-process consist of raw materials, direct labor, production costs, freight, storage and general production expenses, which are related to the processes required to make the products available for sale. Imports in transit are presented at the cost incurred up to the balance sheet date. Raw materials derived from biological assets are measured based on their fair value, less costs to sell at the point of harvest and freight costs. Provisions for obsolescence, adjustments to net realizable value, impaired items and slow-moving inventories are recorded when necessary. Usual production losses are recorded and are an integral part of the production costs for the respective month, whereas unusual losses, if any, are recorded directly as part of cost of sales.
Non-current assets held for sale	Non-current assets held for sale These are measured at their carrying amount or fair value less costs to sell, whichever is lower, and are not depreciated or amortized. Such items are only classified in this account when the sale is highly probable and the assets are available for immediate sale in their current condition.
Biological assets	Biological assets The biological assets for production (mature and immature forests) are reforested eucalyptus forests, with a formation cycle between planting and harvest from 6 to 7 years, measured at fair value. Depletion is measured based on the amount of biological assets depleted (harvested) and measured at fair value at the time of harvest. For the determination of the fair value, the income approach technique was applied, using the discounted cash flow model, according to the projected productivity cycle for these assets. The assumptions used to measure the fair value are reviewed every six months, as the Company considers that this interval is sufficient to ensure no significant gaps in the fair value balance of biological assets booked. Significant assumptions are presented in Note 13. The gain or loss on the assessment of fair value is recognized in operating income (expenses), net. Biological assets in the process of formation under the age of 2 (two) years are recorded for at their formation cost. Areas of permanent environmental preservation are not recorded, because these are not characterized as biological assets, and are not included in the measurement at fair value.
Property, plant and equipment	Property, plant and equipment Stated at their cost of acquisition, formation, construction or dismantling, net of recoverable taxes. This cost is deducted from the accumulated depreciation and accumulated impairment losses, when incurred, at the higher of the value in use or the proceeds from sale less cost to sell. The borrowing costs are capitalized as a component of construction in progress, at the weighted average rate of the Company’s debt at the capitalization date, adjusted for the equalization of exchange rate effects. Depreciation is recognized based on the estimated economic useful life of each asset on a straight-line basis. The estimated useful lives, residual values and depreciation methods are reviewed annually, and the effects of any changes in estimates are accounted for prospectively. Land is not depreciated. The Company performs an annual analysis of impairment indicators of property, plant and equipment. Impairment for losses on property, plant and equipment are only recognized if the related cash-generating unit is devalued, or if the asset’s recoverable amount is less than its carrying amount. The recoverable amount of the asset or cash-generating unit is the higher of its value in use, and its fair value less costs to sell. The cost of major renovations is capitalized if the future economic benefits exceed the performance standards initially estimated for the asset and are then depreciated over the remaining useful life of the related asset. Repairs and maintenance are expensed as incurred. Gains and losses on disposals of property, plant and equipment are measured by comparing the proceeds with the book value and are recognized as other operating income (expenses), net, at the disposal date.
Leases	Leases A contract is, or contains, a lease if the right to control the use of an identified asset for a period of time is transferred in exchange for consideration, for which it is necessary to assess whether: (i)The contract involves the use of an identifiable asset, which may be explicit or implicit, and may be physically distinct or represent almost the entire capacity of a physically distinct asset. If the supplier has a substantial right to replace the asset, then the asset is not identified; (ii)The Company has the right to obtain substantially all the economic benefits from the use of the asset during the contract period; and (iii)The Company has the right to direct the use of the asset, meaning the Company has the right to decide to change how and for what purpose the asset is used, if: •It has the right to operate the asset, or •It designed the asset, in a way that predetermines how and for what purpose it will be used. At the beginning of the contract, the Company recognizes a right-of-use asset and a lease liability that represents the obligation to make payments related to the asset underlying the lease. The right-to-use asset is initially measured at cost, which includes the initial amount of the lease liability adjusted for any payments made up to the contract start date, plus any direct initial costs incurred, and estimated costs of disassembly, removal, or restoration of the asset in the place where it is located, less any incentives received. The right-to-use asset is subsequently depreciated using the straight-line method from the start date to the end of the useful life of the right to use, or the end of the lease term, whichever is shorter. Except for land agreements that are automatically extended for the same period through a notification to the lessor, other agreements are not allowed automatic renewals for an indefinite period, since both parties have the right to terminate the agreements. The lease liability is initially measured at the present value of the payments not made, less the incremental loan rate. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change: (i)In future payments resulting from a change in index or rate; (ii)In the estimate of the expected amount to be paid, at the guaranteed residual value; or (iii)In the assessment of whether the Company will exercise the purchase option, extension or termination. When the lease liability is remeasured, the corresponding adjustment amount is recorded in the book value of the right-of-use asset, or in the statement of profit and loss, if the book value of the right-of-use asset has been reduced to zero. The Company does not have lease agreements with clauses imposing: (i)Variable payments that are based on the performance of the leased assets; (ii)Guarantees of residual value; and (iii)Restrictions, such as, for example, an obligation to maintain financial ratios. Short-term or low-value contracts which are exempt from these standards are contracts where the individual value of the assets is lower than US$5, and for which the maturity date is shorter than 12 months, are expensed as incurred.
Intangible assets	Intangible assets These are measured at cost at the time when they are initially recognized. The cost of intangible assets acquired during a business combination corresponds to the fair value at the acquisition date. After initial recognition, intangible assets are presented at cost less accumulated amortization and impairment losses, when applicable. The useful life of intangible assets are assessed as finite or indefinite. Intangible assets with a finite life are amortized over the economically useful lives and reviewed for impairment whenever there is an indication that their carrying values may be impaired. The amortization period and method for intangible assets with finite useful lives are reviewed at least at the end of each fiscal year. The amortization of intangible assets with finite useful lives is recognized in the statement of income as an expense related to its use, and in line with the economically useful life of the intangible asset. Intangible assets with indefinite useful lives are not amortized, but are tested annually for impairment losses, individually or at the CGU level. The allocation is made to the CGU or group of CGUs that represents the lowest level within the entity for which goodwill is monitored for management’s internal purposes, that has benefited from the business combination. The Company mainly records in this subgroup goodwill for expected future profitability (goodwill) and easement of passage. This testing involved the adoption of assumptions and judgments, disclosed in Note 16.
Current and deferred income tax and social contribution	Current and deferred income tax and social contribution and uncertainty over income tax treatments (IFRIC 23) Income taxes include income tax and social contribution on net income, current and deferred. These taxes are recognized in the income statement, except to the extent that they relate to items recognized directly in equity. In this case, they are recognized in equity under other reserves. The current charge is calculated based on the tax laws enacted in the countries in which the Company and its subsidiaries and affiliates operate and generate taxable income. Management periodically evaluates the positions assumed in the income tax returns with respect to situations in which the applicable tax regulations give rise to interpretations and establishes provisions, when appropriate, based on the amounts that must be paid to the tax authorities. Deferred tax and contribution liabilities are recognized on temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred taxes and contributions are determined based on the rates in force on the balance sheet date, and which must be applied when they are realized or settled. Deferred tax assets and contributions are recognized to the extent that it is probable that future taxable profits will be available for use to offset temporary differences, based on the projections of future results prepared and based on internal assumptions and future economic scenarios that may, therefore, undergo changes. The projection for the realization of deferred tax assets was prepared based on Management’s estimates that are based on significant judgments and assumptions relating to net average pulp and paper prices, and the transfer prices with the subsidiaries based in Austria. However, there are other assumptions that are not under the control of the Company, such as inflation rates, exchange rates, pulp prices in the international market, and other economic uncertainties in Brazil, which mean that future results may differ from those considered in the preparation of the consolidated projection. Deferred income tax and social contribution are recognized on temporary differences arising from investments in subsidiaries and associates, except when the timing of the reversal of temporary differences is controlled by the Company, and if it is probable that the temporary differences will not be reversed in the foreseeable future. Deferred tax and contribution assets and liabilities are offset and presented at their net amounts in the balance sheet whenever they are related to the same legal entity and the same tax authority.
Trade accounts payable	Trade accounts payable Corresponds to the obligations payable for goods or services acquired in the normal course of the Company´s business, recognized at fair value and subsequently measured at amortized cost using the effective interest rate method, adjusted to present value, plus exchange rate variations when denominated in foreign currency.
Loans and financing	Loans, financing and debentures Loans and financing are initially recognized at fair value, net of costs incurred in the transaction, and are subsequently stated at amortized cost. Any difference between the amounts raised and settled is recognized in the statement of income during the period in which the loans and financing are outstanding, using the effective tax rate method. General or specific borrowing costs, directly attributable to the acquisition, construction or production of a qualifying asset, are capitalized as a part of the cost of that asset when it is probable that they will provide future economic benefits for the entity, and that such cost can be measured with reliability. The Company does not have specific loans to obtain qualifying assets. Other loan costs are recognized as expenses in the period during which they are incurred.
Provision, contingent assets and liabilities	Provisions, contingent assets and liabilities Contingent assets are not recorded. Recognition is only performed when there are guarantees or favorable judicial decisions and the amounts of these can be measured reliably. Contingent assets for which such conditions are not met are only disclosed in the notes to the financial statements when their amounts are material. Provisions are made to the extent that the Company expects that is probable that it will disburse cash, and the amount can be reliably estimated. Tax, civil, environmental and labor proceedings are accrued when losses are assessed as probable, and the amounts involved can be measured reliably, being recorded net of judicial deposits, under “provisions for judicial liabilities”. When the expectation of loss is possible, a description of the processes and amounts involved is disclosed in the notes to the financial statements. Contingent liabilities assessed as representing remote losses are neither accrued nor disclosed. Contingent liabilities arising from business combinations are recognized if they arise from a present obligation as a result of from past events, and if their fair values can be measured reliably, and are subsequently measured at the higher of: (i) The amount that would be recognized in accordance with the accounting policy for the provisions above that comply with IAS 37; or (ii) The amount initially recognized less, where appropriate, revenue recognized in accordance with the accounting treatment of revenue from customer contracts under IFRS 15. Principal and penalties amounts related to Tax, civil, environmental and labor proceedings are under other operating income and expenses and the interest is recognized in the net financial result. The realization of provisions for judicial liabilities and contingent liabilities arising from business combinations, with possible and remote probability of loss, are recognized under other operating income and expenses or cash depending on the court decision.
Asset retirement obligations	Asset retirement obligations These primarily relate to future costs for the decommissioning of industrial landfill sites and related assets. A provision is recorded as a long-term obligation within property, plant and equipment. The provision and the corresponding property, plant and equipment are initially recorded at fair value, based on the present value of the estimated cash flow for future cash payments discounted at an adjusted risk-free rate. The long-term obligation accrues interest using a long-term discount rate, recognized under other liabilities. Property, plant and equipment are depreciated on a straight-line basis over the useful life of the principal, against cost of sales in the income statement.
Share based payments	Share based payments The Company’s executives and managers receive their compensation partially through share-based payment plans to be settled in cash and shares, or alternatively in cash only. Plan-related expenses are recognized in the income statement as a corresponding entry within financial liabilities during the vesting period when the services will be rendered. The financial liability is measured at its fair value on every balance sheet date, and its variations are recorded in the income statement as administrative expenses. At the option exercise date, if such options are exercised by the executive in order to receive shares in the Company, financial liabilities are reclassified under stock options granted in shareholders’ equity. In the case of options exercised in cash, the Company settles the related financial liability in favor of the Company’s executives.
Employee benefits	Employee benefits The Company offers benefits through a supplementary contribution plan to all employees, as well as medical assistance and life insurance for a determined group of former employees, and for the latter two benefits an annual actuarial appraisal is prepared by an independent actuary, and are reviewed by Management. The respective impact is recognized in employee benefit plans. Actuarial gains and losses are recognized in other reserves when incurred. The interest incurred, resulting from changes in the present value of the actuarial liability, is recorded in the income statement within financial expenses.
Other assets and liabilities current and non-current	Other assets and liabilities, current and non-current Assets are recognized only when it is probable that the economic benefit associated with the transaction will flow to the entity, and its cost or value can be measured reliably. A liability is recognized when the Company has a legal or constructive obligation arising from a past event, and it is probable that an economic resource will be required to settle this liability.
Government grants and assistance	Government grants and assistance Government grants and assistance are recognized at fair value when it is reasonably certain that the conditions established by the granting Governmental Authority were observed, and that these subsidies will be obtained. These are recorded as deductions expenses in the income statement for the period of enjoyment of the benefit, and subsequently allocated to the tax incentives reserve under shareholders’ equity, when applicable.
Dividend and interest on own capital	Dividends and interest on own capital The distribution of dividends or interest on own capital is recognized as a liability, calculated based on the Corporate Law, the bylaws and the Company's Dividend Policy, which establishes that the minimum annual dividend is the lower of: (i) 25% of adjusted net income, or (ii) 10% the consolidated operating cash flow for the year, provided they are declared before the end of the year. Any portion in excess of the minimum mandatory dividends, if declared after the balance sheet date, must be recorded as part of the additional dividends proposed in shareholders' equity, until approved by the shareholders at a General Meeting. After approval, the reclassification to current liabilities is made. The tax benefit of interest on own capital is recognized in the income statement under income tax.
Share capital	Share capital Common shares are classified in shareholders’ equity. Incremental costs directly attributable to a public offer are stated in shareholders’ equity as a deduction from the amount raised, net of taxes.
Revenue recognition	Revenue recognition Revenue from contracts with customers is recognized at the time when control of the products is transferred to customers, represented by the ability to determine the use of products and obtain substantially all the remaining benefits from the products. The Company follows the five-step model: (i) identification of contracts with customers; (ii) identification of performance obligations under the contracts; (iii) determining the transaction price; (iv) allocation of the transaction price to the performance obligations provided for in the contracts; and (v) recognition of revenue when the performance obligations have been met. For the Pulp operating segment, revenue recognition occurs when control is transferred to the buyer who assumes the remaining benefits of the asset and is based on the parameters provided by: (i) International Commercial Terms (“Incoterms”), when destined for the foreign market; and (ii) lead times, when destined for the internal market. For the operating segment Paper and Consumer Goods, revenue recognition occurs when control is transferred to the buyer who assumes the remaining benefits of the asset and is based on the parameters provided by: (i) the corresponding International Commercial Terms (“Incoterms”); and (ii) lead times, when destined for the external and internal markets. Revenue is measured at the fair value of the consideration received or receivable, net of taxes, returns, rebates and discounts, and recognized in accordance with the accruals basis of accounting, when the amount can be reliably measured. Accumulated experience is used to estimate and provide for rebates and discounts, using the expected value method, and revenue is only recognized to the extent that it is highly unlikely that a significant reversal will occur. A provision for reimbursement (included in trade accounts receivable) is recognized for expected rebates and discounts payable to customers in relation to sales made until the end of the reporting period. No significant element of financing is deemed to be present, as sales are made with short credit terms.
Financial income and expenses	Financial income and expenses Includes interest income on financial assets, at the effective interest rate, which includes the amortization of funding raising costs, gains and losses on derivative financial instruments, interest on loans and financing, exchange variations on loans and financing and other assets and financial liabilities and monetary variations on other assets and liabilities. Interest income and expenses are recognized in the statement of income using the effective interest method.
Earnings (losses) per share	Earnings (losses) per share Basic earnings (losses) per share are calculated by dividing the net profit (loss) attributable to the holders of ordinary shares of the Company to the weighted average number of ordinary shares during the year. Diluted earnings per share are calculated by dividing the net profit attributable to the holders of ordinary shares of the Company by the weighted average number of ordinary shares during the year, plus the weighted average number of ordinary shares that would be issued when converting all potential dilutive ordinary shares into ordinary shares.
Employee and management profit sharing	Employee and management profit sharing Employees are entitled to profit sharing based on certain goals agreed annually. For the Administrators, the statutory provisions proposed by the Board of Directors and approved by the shareholders are used as a basis. Provisions for participation are recognized in the payroll and charges against to administrative expenses during the period in which the targets are attained.
Accounting judgments, estimates and assumptions	Material accounting judgments, estimates and assumptions As disclosed in Note 2, Management used judgments, estimates and accounting assumptions regarding the future, uncertainty in which may lead to results that require significant adjustments to the book values of certain assets, liabilities, income and expenses in future years, are presented below: •Control, significant influence and consolidation (Note 1.1); •Share-based payment transactions (Note 22); •Transfers to control for revenue recognition (Note 28); •Fair value of financial instruments (Note 4); •Annual analysis of the impairment of non-financial assets (Notes 15 and 16); •Expected credit losses in the accounts receivable (Note 7); •Net realizable value provision for inventory (Note 8); •Annual analyses of the recoverability of taxes (Notes 9 and 12); •Fair value of biological assets (Note 13); •Useful lives of property, plant and equipment and intangible assets with defined useful life (Notes 15 and 16); •Annual analysis recoverable amount of goodwill (Note 16); •Leases (Note 19); •Provision for legal liabilities (Note 20); and •Pension and post-employment plans (Note 21). The Company reviews the estimates and underlying assumptions used in its accounting estimates on an annual basis. Revisions to the accounting estimates are recognized in the period during which the estimates are revised.
Accounting policies not yet adopted	Accounting policies not yet adopted The new and changed standards and interpretations issued, but not yet adopted up to December 31, 2023, are described below. The Company intends to adopt these new standards, changes and interpretations, if applicable, when they come into force, and does not expect them to have a material impact on the financial statements. 3.3.1.Amendments to IFRS 7 – Supplier financing agreements and IAS 7 Statement of cash flow (applicable for annual on/or after January 1, 2024) The changes now require the entity to disclose additional information about its supplier financing arrangements that allows users to assess the effects of these arrangements on the entity's liabilities and cash flows and on the entity's exposure to liquidity risk. The disclosures required by the amendments, which would allow understanding of the effects of these agreements on liabilities, cash flows and liquidity include: (a) the terms and conditions of the agreements; (b) at the beginning and end of the reporting period: (i) the carrying values, and the associated items presented in the entity's balance sheet, of the financial liabilities that form part of a supplier financing agreement; (ii) the carrying amounts, and associated items, of the financial liabilities disclosed in accordance with item (i) for which suppliers have already received payment from financiers; and (iii) the range of due dates. (c) the type and effect of non-cash changes in the carrying values of financial liabilities disclosed in accordance with paragraph (b)(i). 3.3.2.Amendments to IFRS 16 – Lease liability in a sale and leaseback transaction (applicable for annual on/or after January 1, 2024) The amendments specify that, in measuring the lease liability subsequent to the sale and leaseback, the seller-lessee determines ‘lease payments’ and ‘revised lease payments’ in a way that does not result in the sellerlessee recognising any amount of the gain or loss that relates to the right of use that it retains. 3.3.3.Amendments to IAS 1: Classification of liabilities as current or non-current and non-current liabilities with covenants (applicable for annual on/or after January 1, 2024) The changes improve the information provided by the entity when its right to defer the settlement of a liability for at least twelve months is subject to compliance with covenants. The classification of liabilities as current or non-current is based on compliance with covenants that are required on the reporting date or before that date, but never in relation to future events, in addition to requiring disclosure of information in the explanatory notes that allow Users of financial statements assess the risk that the liability may become due within twelve months, including the agreed conditions (for example, their nature and the date by which the entity must comply with them), whether the entity would have complied with the conditions based on its circumstances at the end of the reporting period and how the entity expects to comply with the conditions after the end of the reporting period. 3.3.4.Amendments to IAS 21: Absence of interchangeability (applicable for annual on/or after January 1, 2025) The changes will create requirements for the entity to apply a consistent approach to assessing whether a currency is exchangeable for another currency and, when it is not, to determining the appropriate exchange rate to use and the disclosures to be made. In this context, exchangeability is considered non-existent when, for a given purpose, the entity is unable to obtain more than an insignificant amount of foreign currency. To this end, the entity evaluates: (i)the timeliness of obtaining foreign currency; (ii)the practical ability (and not the intention) to obtain foreign currency; It is (iii)the available markets or exchange mechanisms that create enforceable rights and obligations.

COMPANY'S OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2023

COMPANY'S OPERATIONS

Summary of equity interest in the entities


			% equity interest
Entity/Type of investment	Main activity	Country	December 31, 2023		December 31, 2022

Consolidated
F&E Tecnologia do Brasil S.A. (Direct)	Biofuel production, except alcohol	Brazil	100.00	%	100.00	%
Fibria Celulose (USA) Inc. (Direct)	Business office	United States of America	100.00	%	100.00	%
Fibria Overseas Finance Ltd. (Direct)	Financial fundraising	Cayman Island	100.00	%	100.00	%
Fibria Terminal de Celulose de Santos SPE S.A. (Direct)	Port operations	Brazil	100.00	%	100.00	%
FuturaGene Ltd.	Biotechnology research and development	England	100.00	%	100.00	%
FuturaGene Delaware Inc. (Indirect)	Biotechnology research and development	United States of America	100.00	%	100.00	%
FuturaGene Israel Ltd. (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)	Holding	Brazil	100.00	%	100.00	%
Itacel - Terminal de Celulose de Itaqui S.A. (Indirect)	Port operations	Brazil	100.00	%	100.00	%
MMC Brasil Indústria e Comércio Ltda (Direct) (1)	Industrialization and commercialization of wipes, cleaning and sanitary and personal hygiene products.	Brazil	—	%
Mucuri Energética S.A. (Direct)	Power generation and distribution	Brazil	100.00	%	100.00	%
Paineiras Logística e Transportes Ltda. (Direct)	Road freight transport	Brazil	100.00	%	100.00	%
Portocel - Terminal Espec. Barra do Riacho S.A. (Direct)	Port operations	Brazil	51.00	%	51.00	%
Projetos Especiais e Investimentos Ltda. (Direct)	Commercialization of equipment and parts	Brazil	100.00	%	100.00	%
SFBC Participações Ltda. (Direct)	Packaging production	Brazil	100.00	%	100.00	%
Stenfar S.A. Indl. Coml. Imp. Y. Exp. (Direct)	Commercialization of paper and computer materials	Argentina	100.00	%	100.00	%
Suzano Austria GmbH. (Direct)	Financial fundraising	Austria	100.00	%	100.00	%
Suzano Canada Inc. (Direct)	Lignin research and development	Canada	100.00	%	100.00	%
Suzano Ecuador S.A.S. (Direct) (2)	Business office	Ecuador	100.00	%
Suzano Finland Oy (Direct)	Industrialization and commercialization of cellulose, microfiber cellulose and paper	Finland	100.00	%	100.00	%
Suzano International Finance B.V (Direct)	Financial fundraising	Netherlands	100.00	%	100.00	%
Suzano International Holding B.V (Direct) (3)	Holding	Netherlands	100.00	%
Suzano International Trade GmbH. (Direct)	Business office	Austria	100.00	%	100.00	%
Suzano Material Technology Development Ltd. (Direct)	Biotechnology research and development	China	100.00	%	100.00	%
Suzano Netherlands B.V. (Direct) (3)	Financial fundraising	Netherlands	100.00	%
Suzano Operações Industriais e Florestais S.A. (Direct)	Industrialization, commercialization and exporting of pulp	Brazil	100.00	%	100.00	%
Suzano Pulp and Paper America Inc. (Direct)	Business office	United States of America	100.00	%	100.00	%
Suzano Pulp and Paper Europe S.A. (Direct)	Business office	Switzerland	100.00	%	100.00	%
Suzano Shanghai Ltd. (Direct)	Business office	China	100.00	%	100.00	%
Suzano Shanghai Trading Ltd. (Direct) (4)	Business office	China	100.00	%
Suzano Singapore Pte. Ltd (Direct) (5)	Business office	Singapore	100.00	%
Suzano Trading International KFT(Direct)	Business office	Hungary	100.00	%	100.00	%
Suzano Ventures LLC (Direct)	Corporate venture capital	United States of America	100.00	%	100.00	%

Joint operation
Veracel Celulose S.A. (Direct)	Industrialization, commercialization and exporting of pulp	Brazil	50.00	%	50.00	%


			% equity interest
Entity/Type of investment	Main activity	Country	December 31, 2023		December 31, 2022

Equity
Biomas Serviços Ambientais, Restauração e Carbono S.A. (Direct) (6)	Restoration, conservation and preservation of forests	Brazil	16.66	%	100.00	%
Ensyn Corporation (Direct) (7)	Biofuel research and development	United States of America	25.53	%	26.59	%
F&E Technologies LLC (Direct/Indirect)	Biofuel production, except alcohol	United States of America	50.00	%	50.00	%
Ibema Companhia Brasileira de Papel (Direct)	Industrialization and commercialization of paperboard	Brazil	49.90	%	49.90	%
Spinnova Plc (Direct) (“Spinnova”)	Research of sustainable raw materials for the textile industry	Finland	18.78	%	19.03	%
Woodspin Oy (Direct/Indirect) (“Woodspin”)	Development and production of cellulose-based fibers, yarns and textile filaments	Finland	50.00	%	50.00	%

Fair value through other comprehensive income
Celluforce Inc. (Direct)	Nanocrystalline pulp research and development	Canada	8.28	%	8.28	%

(1)On June 1, 2023, the Company completed the acquisition of MMC Brasil and on November 1, 2023 the legal entity has fully merged by Suzano S.A. (Note 1.2.3.)

(2)On March 8, 2023, establishment of legal entity with full equity interest from Suzano S.A.

(3)On December 13, 2023, establishment of legal entity with full equity interest from Suzano S.A.

(4)On May 19, 2023, establishment of legal entity with full equity interest from Suzano S.A.

(5)On May 23, 2023, establishment of legal entity with full equity interest from Suzano S.A.

(6)On February 27 and March 21, 2023, equivalent contributions were made by the six shareholders of Biomas to constitute an equity interest (Note 1.2.6).

(7)On May 17, 2023, and on October 18, 2023the percentage of interest was changed due to the dilution of the shares.

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2023

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

Schedule of financial instruments by category

All transactions with financial instruments are recognized for accounting purposes and classified in the following categories:


	Note	December 31, 2023	December 31, 2022

Assets
Amortized cost
Cash and cash equivalents	5	8,345,871	9,505,951
Trade accounts receivable	7	6,848,454	9,607,012
Dividends receivable	11		7,334
Other assets (1)		737,222	931,173
		15,931,547	20,051,470
Fair value through other comprehensive income
Investments - Celluforce	14.1	23,606	24,917
		23,606	24,917

Fair value through profit or loss
Derivative financial instruments	4.5.1	4,430,454	4,873,749
Marketable securities	6	13,267,286	7,965,742
		17,697,740	12,839,491
		33,652,893	32,915,878
Liabilities
Amortized cost
Trade accounts payable	17	5,572,219	6,206,570
Loans, financing and debentures	18.1	77,172,692	74,574,591
Lease liabilities	19.2	6,243,782	6,182,530
Liabilities for assets acquisitions and subsidiaries	23	187,187	2,062,322
Dividends and interest on own capital payable		1,316,528	5,094
Other liabilities (1)		116,716	147,920
		90,609,124	89,179,027
Fair value through profit or loss
Derivative financial instruments	4.5.1	2,436,072	4,846,795
		2,436,072	4,846,795
		93,045,196	94,025,822
		59,392,303	61,109,944

(1)Does not include items not classified as financial instruments

Summary of estimated fair value of loans and financing


	Yield used to discount/ methodology	December 31, 2023	December 31, 2022

Quoted in the secondary market
In foreign currency
Bonds	Secondary Market	38,703,379	40,309,832
Estimated present value
In foreign currency
Export credits (“Prepayment”)	SOFR	17,783,760	17,724,315
Assets Financing	SOFR	278,107	138,644
IFC - International Finance Corporation	SOFR	3,198,761
BNDES - Currency basket	DI 1		10,866
In local currency
BNDES – TJLP	DI 1	215,458	292,487
BNDES – TLP	DI 1	2,712,762	1,393,010
BNDES – Fixed	DI 1	3,903	21,656
BNDES – SELIC (“Special Settlement and Custody System”)	DI 1	686,798	575,129
Assets financing	DI 1	75,622
CRA (“Agribusiness Receivables Certificate”)	DI 1/IPCA		1,835,336
Debentures	DI 1	8,881,277	5,643,440
NCE (“Export Credit Notes”)	DI 1	110,396	1,384,396
NCR (“Rural Credit Notes”)	DI 1	2,228,806	294,089
Export credits (“Prepayment”)	DI 1	824,035	1,320,415
		75,703,064	70,943,615

Schedule of contractual maturities of financial liabilities


	December 31, 2023
	Book value	Undiscounted cash flow	Up to 1 year	1 - 2 years	2 - 5 years	More than 5 years

Liabilities
Trade accounts payable	5,572,219	5,572,219	5,572,219
Loans, financing and debentures	77,172,692	105,526,852	7,648,237	12,983,542	31,355,362	53,539,711
Lease liabilities	6,243,782	11,021,519	1,172,568	1,045,795	2,743,793	6,059,363
Liabilities for asset acquisitions and subsidiaries	187,187	215,891	94,948	18,314	87,520	15,109
Derivative financial instruments	2,436,072	2,801,258	66,433	1,278,953	1,191,014	264,858
Dividends and interest on own capital payable	1,316,528	1,316,528	1,316,528
Other liabilities	116,716	116,716	58,955	57,761
	93,045,196	126,570,983	15,929,888	15,384,365	35,377,689	59,879,041


	December 31, 2022
	Book value	Undiscounted cash flow	Up to 1 year	1 - 2 years	2 - 5 years	More than 5 years

Liabilities
Trade accounts payable	6,206,570	6,206,570	6,206,570
Loans, financing and debentures	74,574,591	105,341,912	6,823,274	7,899,772	39,476,527	51,142,339
Lease liabilities	6,182,530	11,053,487	1,050,947	992,379	2,668,855	6,341,306
Liabilities for asset acquisitions and subsidiaries	2,062,322	2,203,302	1,986,633	99,331	57,421	59,917
Derivative financial instruments	4,846,795	6,515,262	728,070	1,341,108	4,299,970	146,114
Dividends payable	5,094	5,094	5,094
Other liabilities	147,920	147,920	61,500	86,420
	94,025,822	131,473,547	16,862,088	10,419,010	46,502,773	57,689,676

Schedule of credit exposures using internal credit grading


	December 31, 2023	December 31, 2022

Low (1)	6,549,975	9,430,244
Average (2)	156,883	129,900
High (3)	173,558	67,977
	6,880,416	9,628,121

(1)Current and overdue up to 30 days.

(2)Overdue between 30 and 90 days.

(3)Overdue more than 90 days

Schedule of the book value of financial assets representing the exposure to credit risk


	December 31, 2023	December 31, 2022

Cash and cash equivalents	8,345,871	9,505,951
Marketable securities	13,267,286	7,965,742
Derivative financial instruments (1)	4,199,982	4,833,330
	25,813,139	22,305,023

(1)Does not include the derivative embedded in a forest partnership agreement for the supply of standing wood, which is not a transaction with a financial institution.

Schedule of credit exposures using external credit grading


	Cash and cash equivalents and marketable securities		Derivative financial instruments
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Risk rating (1)
AAA			878,241
AA-			1,007,537	47,681
A+			136,864	1,149,694
A			55,547	1,485,424
A-				1,095
brAAA	20,856,072	17,117,171	1,682,513	1,418,968
brAA+	511,589	1,173	439,280
brAA	6,565	133,030		730,468
brAA-	2,169	47
brA+		352
brA		17,595
brBBB-	3
brBB	1,132
brBB-	385	2,897
Others	235,242	199,428
	21,613,157	17,471,693	4,199,982	4,833,330

(1)We use the Brazilian Risk Ratings issued by the agencies Fitch Ratings, Standard & Poor’s and Moody’s

Schedule of net exposure of assets and liabilities in foreign currency

The assets and liabilities that are exposed to foreign currency, substantially in U.S. Dollars, are set forth below:


	December 31, 2023	December 31, 2022

Assets
Cash and cash equivalents	6,432,557	8,039,218
Marketable securities	7,378,277	4,510,652
Trade accounts receivable	5,049,609	7,612,768
Derivative financial instruments	3,070,594	3,393,785
	21,931,037	23,556,423

Liabilities
Trade accounts payable	(1,625,011)	(2,030,806)
Loans and financing	(61,304,673)	(61,216,140)
Liabilities for asset acquisitions and subsidiaries	(127,598)	(2,053,259)
Derivative financial instruments	(1,867,882)	(4,698,323)
	(64,925,164)	(69,998,528)
	(42,994,127)	(46,442,105)

Summary of yield curves used to calculate fair value of derivative financial instruments

Interest rate curves

Term

Brazil

United States of America

US Dollar coupon

1 month

11.65% p.a.

5.35% p.a.

2.54% p.a.

6 months

10.79% p.a.

5.15% p.a.

5.55% p.a.

1 year

9.99% p.a.

4.77% p.a.

5.58% p.a.

2 years

9.55% p.a.

4.16% p.a.

5.18%p.a.

3 years

9.66% p.a.

3.89% p.a.

4.99% p.a.

5 years

10.04% p.a.

3.76% p.a.

5.00% p.a.

10 years

10.33% p.a.

4.02% p.a.

5.74% p.a.

Schedule of derivatives by type of contract


	Notional value, net in U.S.$		Fair value in R$
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Instruments as part of protection strategy
Operational hedges
Zero Cost Collar	4,500,200	6,866,800	1,968,337	1,596,089
NDF (R$ x US$)	505,000	248,100	162,776	(2,474)
NDF (€ x US$)	262,088	544,702	100,362	161,055

Debt hedges
Swap SOFR to Fixed (US$)	2,555,626	3,200,179	741,492	1,052,546
Swap IPCA to CDI (notional in Brazilian Reais)	4,274,397	1,741,787	47,645	278,945
Swap IPCA to Fixed (US$)		121,003		(29,910)
Swap CDI x Fixed (US$)	1,025,000	1,863,534	(1,081,964)	(2,566,110)
Pre-fixed Swap to US$ (US$)	200,000	350,000	(203,045)	(503,605)
Swap CDI x SOFR (US$)	125,000		25,774
Swap SOFR to SOFR (US$)	150,961		(16,615)

Commodity Hedge
Swap US-CPI (US$) (1)	131,510	124,960	230,471	40,418
Zero Cost Collar (Brent)	163,100		(3,148)
Swap VLSFO/Brent	142,794		22,297
			1,994,382	26,954

Current assets			2,676,526	3,048,493
Non-current assets			1,753,928	1,825,256
Current liabilities			(578,763)	(667,681)
Non-current liabilities			(1,857,309)	(4,179,114)
			1,994,382	26,954

(1)The embedded derivative refers to a swap contract for the sale of price variations in United States Dollars and US-CPI within the term of a forest partnership with a standing wood supply contract.

Schedule of fair value by maturity


	December 31, 2023	December 31, 2022

2024	2,097,763	2,380,812
2025	233,073	297,156
2026	(574,871)	(1,225,193)
2027 onwards	238,417	(1,425,821)
	1,994,382	26,954

Schedule of long and short positions of outstanding derivatives


	Notional value			Fair value
	Currency	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Debt hedges
Assets
Swap CDI to Fixed (US$)	R$	3,898,011	7,081,545	223,776	617,835
Swap Pre-Fixed to US$	R$	738,800	1,317,226		45,329
Swap SOFR to Fixed (US$)	US$	2,555,626	3,200,000	1,104,984	1,052,546
Swap IPCA to CDI	IPCA	4,320,471	2,041,327	161,542	427,417
Swap IPCA to US$	IPCA		610,960
Swap CDI to SOFR (US$)	R$	644,850		32,560
Swap SOFR to SOFR (US$)	US$	150,961		6,681
				1,529,543	2,143,127
Liabilities
Swap CDI to Fixed (US$)	US$	1,025,000	1,863,534	(1,305,740)	(3,183,945)
Swap Pre-Fixed to US$	US$	200,000	350,000	(203,045)	(548,934)
Swap SOFR to Fixed (US$)	US$	2,555,626	3,200,000	(363,492)
Swap IPCA to CDI	R$	4,274,397	1,741,787	(113,897)	(148,472)
Swap IPCA to US$	US$		121,003		(29,910)
Swap CDI to SOFR (US$)	US$	125,000		(6,786)
Swap SOFR to SOFR (US$)	US$	150,961		(23,296)
				(2,016,256)	(3,911,261)
				(486,713)	(1,768,134)
Operational hedge
Zero Cost Collar (US$ x R$)	US$	4,500,200	6,866,800	1,968,337	1,596,089
NDF (R$ x US$)	US$	505,000	248,100	162,776	(2,474)
NDF (€ x US$)	US$	262,088	544,702	100,362	161,055
				2,231,475	1,754,670
Commodity hedge
Swap US-CPI (standing wood) (1)	US$	131,510	124,960	230,471	40,418
Zero Cost Collar (Brent)	US$	163,100		(3,148)
Swap VLSFO/Brent	US$	142,794		22,297
				249,620	40,418
				1,994,382	26,954

(1)The embedded derivative refers to the swap contracts for selling price variations in US$ and the US-CPI in forest partnership with a standing wood supply contract.

Schedule of fair value settled derivatives

Currency risk [member] | Financial instruments, excluding derivatives

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

Summary of sensitivity analysis


	December 31, 2023
	Effect on profit or loss
	Probable (base value)	Possible (25%)	Remote (50%)

Cash and cash equivalents	6,432,557	1,608,139	3,216,279
Marketable securities	7,378,277	1,844,569	3,689,139
Trade accounts receivable	5,049,609	1,262,402	2,524,805
Trade accounts payable	(1,625,011)	(406,253)	(812,506)
Loans and financing	(61,304,673)	(15,326,168)	(30,652,337)
Liabilities for asset acquisitions and subsidiaries	(127,598)	(31,900)	(63,799)

Currency risk [member] | Derivative financial instruments

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

Summary of sensitivity analysis

The following table set out the possible impacts assuming these scenarios:


	December 31, 2023
	Effect on profit or loss
	Probable (base value)	Possible 25%	Remote 50%

Dollar/Real
Derivative financial instruments
Derivative options	1,968,337	(3,436,589)	(7,464,284)
Derivative swaps	(486,713)	(1,491,613)	(2,981,409)
Derivative Non-Deliverable Forward (‘NDF’) Contracts	162,776	(596,284)	(1,192,682)
Embedded derivatives	230,471	(122,510)	(245,021)
NDF parity derivatives (1)	100,362	(22,715)	(47,331)
Commodity Derivatives	19,149	(8,721)	(14,295)

Dollar/Euro
Derivative financial instruments
NDF parity derivatives (1)	100,362	(337,711)	(675,423)

(1)Long positions at US$/EUR parity in order to protect the Capex cash flow of the Cerrado Project against the appreciation of the Euro.

Interest rate risk [member] | Financial instruments, excluding derivatives

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

Summary of sensitivity analysis


	December 31, 2023
	Effect on profit or loss
	Probable	Possible (25%)	Remote (50%)

CDI/SELIC
Cash and cash equivalents	1,784,313	(56,429)	(112,858)
Marketable securities	5,889,009	(186,240)	(372,480)
Loans and financing	8,686,026	274,696	549,391
TJLP
Loans and financing	250,474	4,383	8,767
SOFR
Loans and financing	19,670,956	265,337	530,673

Interest rate risk [member] | Derivative financial instruments

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

Summary of sensitivity analysis

December 31, 2023

Effect on profit or loss

Probable

Probable
25%

Remote
50%

CDI

Derivative financial instruments

Liabilities

Derivative options

1,968,337

(387,790)

(743,473)

Derivative swaps

(486,713)

(39,216)

(66,609)

SOFR

Derivative financial instruments

Liabilities

Derivative swaps

(486,713)

127,655

269,490

Other price risk [member] | Derivative financial instruments

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

Summary of sensitivity analysis

December 31, 2023

Effect on profit or loss

Probable
(base value)

Possible
(25%)

Remote
(50%)

Embedded derivative in a commitment to purchase standing wood, originating from a forest partnership agreement

230,471

(30,667)

(63,157)

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2023

Cash and cash equivalents [abstract]

Schedule of cash and cash equivalents


	Average yield p.a. %	December 31, 2023	December 31, 2022

Cash and banks (1)	5.50	6,561,558	8,064,193

Cash equivalents
Local currency
Fixed-term deposits (compromised)	102.78 of CDI	1,784,313	1,441,758
		8,345,871	9,505,951

(1)Refers mainly to investments in foreign currency under the Sweep Account modality, which is a remunerated account the balance of which is invested and made available automatically each day.

MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of financial assets [abstract]

Schedule of marketable securities


	Average yield p.a. %	December 31, 2023	December 31, 2022

In local currency
Private funds	109.87 of CDI	1,295,296	1,208,975
Private Securities ("CDBs")	102.81 of CDI	4,150,313	1,827,012
CDBs - Escrow Account (1)	104.65 of CDI	443,400	419,103
		5,889,009	3,455,090
Foreign currency
Time deposits (2)	6.71	7,333,308	4,386,589
Other		44,969	124,063
		7,378,277	4,510,652
		13,267,286	7,965,742

Current		12,823,886	7,546,639
Non-Current		443,400	419,103

(1)Includes escrow accounts, which will be released only after obtaining the applicable governmental approvals, and pending compliance by the Company with the conditions precedent in transactions involving the sale of rural properties.

(2)Refers to Time Deposit investments, with maturities over 90 days, which are remunerated bank deposits with specific maturity periods.

TRADE ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2023

Trade and other current receivables [abstract]

Schedule of trade accounts receivable by type of customer


	December 31, 2023	December 31, 2022

Domestic customers
Third parties	1,785,157	1,915,745
Related parties (Note 11) (1)	45,650	99,608

Foreign customers
Third parties	5,049,609	7,612,768

(-) Expected credit losses	(31,962)	(21,109)
	6,848,454	9,607,012

(1)The balance refers to transactions with Ibema Companhia Brasileira de Papel.

Schedule of trade accounts receivable by maturity

Breakdown of trade accounts receivable by maturity


	December 31, 2023	December 31, 2022

Current	5,904,402	8,652,376
Overdue
Up to 30 days	644,644	777,150
From 31 to 60 days	57,395	74,253
From 61 to 90 days	97,639	54,784
From 91 to 120 days	40,533	20,975
From 121 to 180 days	34,708	18,945
From 181 days	69,133	8,529
	6,848,454	9,607,012

Schedule of rollforward of expected credit losses, trade accounts receivable

Roll-forward of expected credit losses


	December 31, 2023	December 31, 2022

Opening balance	(21,109)	(34,763)
Additions	(38,775)	(5,228)
Reversals	3,573	3,576
Write-offs	24,230	12,355
Exchange rate variations	119	2,951
Closing balance	(31,962)	(21,109)

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2023

Classes of current inventories [abstract]

Schedule of inventories


	December 31, 2023	December 31, 2022

Finished goods
Pulp
Domestic (Brazil)	576,774	616,557
Foreign	1,271,335	1,440,207
Paper
Domestic (Brazil)	569,771	359,322
Foreign	137,653	201,868
Work in process	93,325	93,964
Raw materials
Wood	1,666,817	1,492,661
Operating supplies and packaging	795,274	732,140
Spare parts and other	931,052	897,531

(-) Expected credit losses	(95,053)	(105,989)
	5,946,948	5,728,261

Schedule of changes in expected losses


	December 31, 2023	December 31, 2022

Opening balance	(105,989)	(91,258)
Additions	(65,085)	(89,552)
Reversals	33,666	33,492
Write-offs	42,355	41,329
Closing balance	(95,053)	(105,989)

On December 31, 2023, and December 31, 2022, there were no inventory items pledged as collateral.

RECOVERABLE TAXES (Tables)

12 Months Ended

Dec. 31, 2023

RECOVERABLE TAXES

Schedule of recoverable taxes


	December 31, 2023	December 31, 2022

IRPJ/CSLL – prepayments and withheld taxes	464,188	179,812
PIS/COFINS – on acquisitions of property, plant and equipment (1)	93,866	89,334
PIS/COFINS – operations	699,717	523,970
PIS/COFINS – exclusions from ICMS (2)	443,210	570,945
ICMS – on acquisitions of property, plant and equipment (3)	432,793	167,286
ICMS – operations (4)	1,470,949	1,423,375
Reintegra program (5)	64,077	65,971
Other taxes and contributions	45,821	39,057
Provision for loss on ICMS credits (6)	(1,452,435)	(1,103,807)
	2,262,186	1,955,943

Current	888,539	549,580
Non-current	1,373,647	1,406,363

(1)Social Integration Program (“PIS”) and Social Security Funding Contribution (“COFINS”): Credits whose realization is based on the years of depreciation of the corresponding asset.

(2)The Company and its subsidiaries filed lawsuits over the years seeking the exclusion of ICMS from the PIS and COFINS contribution tax basis, in relation to certain transactions during various periods from March 1992.

(3)Tax on Sales and Services (“ICMS”): Credits from the acquisition of property, plant and equipment are recovered on a straight-line basis over a four-year period, from the acquisition date, in accordance with the relevant regulation, the ICMS Control on Property, Plant and Equipment (“CIAP”).

(4)ICMS credits accrued due to the volume of exports and credit generated from product import transactions: Credits are concentrated in the States of Espírito Santo, Maranhão, Mato Grosso do Sul e São Paulo, where the Company realizes the credits through the sale of credits to third parties, after approval from the State Ministry of Finance of each State. Credits are also being realized through the consumption of consumer goods (tissue) transactions in the domestic market.

(5)Special Regime of Tax Refunds for Export Companies (“Reintegra”): Reintegra is a program that aims to refund the residual costs of taxes paid throughout the export chain to taxpayers, to make them more competitive in foreign markets.

(6)Related to provisions for ICMS credit balances that are not probable to be recovered.

Schedule of changes in provision for loss


	ICMS
	December 31, 2023	December 31, 2022

Opening balance	(1,103,807)	(1,064,268)
Additions (1)	(399,838)	(221,903)
Reversals	51,210	163,900
Write-offs		18,464
Closing balance	(1,452,435)	(1,103,807)

(1)Refers, substantially, to the accumulated ICMS credits of the state of Mato Grosso do Sul, arising from the construction operations of the Cerrado Project, and of the state of Espirito Santo, of the accumulated credits due to the volume of exports.

ADVANCES TO SUPPLIERS (Tables)

12 Months Ended

Dec. 31, 2023

ADVANCES TO SUPPLIERS

Schedule of advances to suppliers


	December 31, 2023	December 31, 2022

Forestry development program and partnerships	2,242,229	1,592,132
Advance to suppliers - others	113,743	108,146
	2,355,972	1,700,278

Current	113,743	108,146
Non-current	2,242,229	1,592,132

RELATED PARTIES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of transactions between related parties [abstract]

Schedule of related party transactions


	Assets		Liabilities		Sales (purchases), net
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022	December 31, 2021

Transactions with controlling shareholders
Management and related persons			(31,748)
Alden Fundo de Investimento em Ações			(30,428)
Controller			(193,883)
Suzano Holding S.A.	24	5	(363,520)		9	91	(2,621)
	24	5	(619,579)		9	91	(2,621)

Transactions with companies of the Suzano
Group and other related parties
Management (expect compensation – Note 11.2)	61			(5)	(906)	(47)	(422)
Bexma Participações Ltda		1			9	38	24
Bizma Investimentos Ltda		1			7	10	6
Civelec Participações Ltda	4,575				4,825
Fundação Arymax					3	4	2
Ibema Companhia Brasileira de Papel (1)	45,659	106,940	(1,023)	(3,705)	168,621	218,226	169,965
Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável	2	3		(66)	(5,549)	(4,603)	(4,399)
IPLF Holding S.A.		23			5	38	10
Mabex Representações e Participações Ltda.					(817)		(137)
Nemonorte Imóveis e Participações Ltda					(178)	(194)	(170)
	50,297	106,968	(1,023)	(3,776)	166,020	213,472	164,879
	50,321	106,973	(620,602)	(3,776)	166,029	213,563	162,258

Assets
Trade accounts receivable (Note 7)	45,650	99,608
Dividends receivable		7,334
Other assets	4,671	31
Liabilities
Trade accounts payable (Note 17)			(1,023)	(3,776)
Dividends and interest on own capital payable (2)			(619,579)
	50,321	106,973	(620,602)	(3,776)

(1)Refers mainly to the sale of pulp.

(2)The amount of R$619,579 refers to interest on own capital payable to the controlling shareholders and the amount of R$696,949 refers to other non-controlling shareholders, totaling R$1,316,528 (Note 1.2.7).

Schedule of management compensation


	December 31, 2023	December 31, 2022	December 31, 2021

Short-term benefits
Salary or compensation	49,165	50,228	48,693
Direct and indirect benefits	2,286	1,099	880
Bonus	10,829	7,031	6,474
	62,280	58,358	56,047

Long-term benefits
Share-based compensation plan	42,130	36,390	46,306
	42,130	36,390	46,306
	104,410	94,748	102,353

INCOME AND SOCIAL CONTRIBUTION TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Major components of tax expense (income) [abstract]

Schedule of deferred income and social contribution taxes


	December 31, 2023	December 31, 2022

Tax loss	1,209,968	1,207,096
Negative tax basis of social contribution	457,030	445,250

Assets - temporary differences
Provision for judicial liabilities	324,158	268,596
Operating provisions and other losses	1,214,807	999,028
Exchange rate variations	2,384,153	4,297,503
Amortization of fair value adjustments arising from business combinations	654,358	680,142
Unrealized profit on inventories	151,578	363,052
Leases	356,110	364,838
	6,752,162	8,625,505

Liabilities - temporary differences
Goodwill - tax benefit on unamortized goodwill	1,301,654	1,023,103
Property, plant and equipment - deemed cost	1,137,483	1,217,349
Depreciation for tax-incentive reason(1)	799,857	869,997
Capitalized loan costs	640,063	210,834
Fair value of biological assets	1,115,432	703,274
Deferred taxes, net of fair value adjustments	370,947	398,950
Tax credits - gains from tax lawsuit (exclusion of ICMS from the PIS and COFINS basis)	150,691	194,121
Derivatives gains (“MtM”)	678,090	9,164
Other temporary differences	24,109	13,416
	6,218,326	4,640,208

Non-current assets	545,213	3,986,415
Non-current liabilities	11,377	1,118

Schedule of accumulated tax losses and social contribution tax loss carryforwards


	December 31, 2023	December 31, 2022

Tax loss carried forward	4,839,872	4,828,384
Negative tax basis of social contribution carried forward	5,078,111	4,947,222

Schedule of changes in net balance of deferred income tax


	December 31, 2023	December 31, 2022

Opening balance	3,985,297	8,729,929
Tax loss	2,872	50,220
Negative tax basis of social contribution	11,780	34,176
Provision for judicial liabilities	55,562	19,251
Operating provisions and other losses	215,779	33,898
Exchange rate variation	(1,913,350)	(2,257,699)
Derivative gains (“MtM”)	(668,926)	(2,202,857)
Amortization of fair value adjustments arising from business combinations	2,219	8,970
Unrealized profit on inventories	(211,474)	64,164
Leases	(8,728)	(8,534)
Goodwill - tax benefit on unamortized goodwill	(278,551)	(276,614)
Property, plant and equipment - deemed cost	79,866	99,510
Depreciation accelerated for tax-incentive reason	70,140	74,952
Capitalized loan costs	(429,229)	(111,435)
Fair value of biological assets	(412,158)	(272,308)
Credits on exclusion of ICMS from the PIS/COFINS tax base	43,430	3,906
Other temporary differences	(10,693)	(4,232)
Closing balance	533,836	3,985,297

Schedule of changes in the effects of income tax and social contribution on profit or loss


	December 31, 2023		December 31, 2022		December 31, 2021

Net income (loss) before taxes	17,997,216		28,655,581		8,832,957
Income tax and social contribution benefit (expense) at the statutory nominal rate of 34%	(6,119,053)		(9,742,898)		(3,003,205)

Tax effect on permanent differences
Taxation (difference) on profits of subsidiaries in Brazil and abroad (1)	1,688,656		4,915,243		3,445,206
Equity method	(6,589)		96,685		44,309
Thin capitalization (2)	(46,796)		(505,553)		(603,612)
Interest on own capital	510,000
Credit related to the Reintegra Program	7,176		7,829		7,398
Director bonuses	(4,907)		(12,208)		(15,656)
Tax incentives (3)	128,650		51,839		16,443
Donations/Fines – Other	(47,972)		(71,631)		(88,308)
	(3,890,835)		(5,260,694)		(197,425)
Income tax
Current	(352,577)		(464,312)		(276,431)
Deferred	(2,561,991)		(3,485,267)		69,669
	(2,914,568)		(3,949,579)		(206,762)
Social Contribution
Current	(42,815)		(46,584)		(15,684)
Deferred	(933,452)		(1,264,531)		25,021
	(976,267)		(1,311,115)		9,337
Income and social contribution benefits (expenses) for the year	(3,890,835)		(5,260,694)		(197,425)

Effective rate of income and social contribution tax expenses	21.62	%	18.36	%	2.24	%

(1)The difference in the taxation of subsidiaries is substantially due to the differences between the nominal tax rates in Brazil and those of subsidiaries located abroad.

(2)The Brazilian thin capitalization rules establish that interest paid or credited by a Brazilian entity to a related party abroad may only be deducted for income tax and social contribution purposes if the interest expense is viewed as necessary for the activities of the local entity, and when certain limits and requirements are met. On December 31, 2023 and 2022, the Company did not meet all of the limits and requirements, and therefore the expense is not deductible for the period.

Schedule of tax incentives

Area/Regions

Company

Maturity

Northeast Development Superintendence (“SUDENE”)

Eunápolis (BA)

Veracel

2025

Aracruz (ES)

Portocel

2030

Aracruz (ES)

Suzano

2031

Imperatriz (MA)

Suzano

2032

Mucuri (BA)

Suzano

2032

Superintendence of Amazon Development (“SUDAM”)

Belém (PA)

Suzano

2025

BIOLOGICAL ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about biological assets [abstract]

Schedule of changes in balances of biological assets


	December 31, 2023	December 31, 2022

Opening balance	14,632,186	12,248,732
Additions	5,777,952	4,957,380
Depletions	(3,680,997)	(3,665,057)
Transfers	(136,297)
Gain on fair value adjustments	1,989,831	1,199,759
Disposals	(128,370)	(82,331)
Other write-offs	(175,723)	(26,297)
Closing balance	18,278,582	14,632,186

Schedule of assumptions used in calculation of fair value of biological assets


	December 31, 2023		December 31, 2022

Planted useful area (hectare)	1,094.611		1,097.081
Mature assets	144.942		134.752
Immature assets	949.669		962.329
Average annual growth (IMA) – m3/hectare/year	37.92		37.07
Average gross sale price of eucalyptus – R$/m3	96.04		90.16
Discount rate - % (post-tax)	8.80	%	9.10	%

Schedule of fair value adjustment


	December 31, 2023	December 31, 2022

Physical changes and discount rate (1)	1,575,017	(37,088)
Price	414,814	1,236,847
	1,989,831	1,199,759

(1)Includes the variation of indicators: IMA, discount rate and area.

The Company manages the financial and climate risks related to its agricultural activities in a preventive manner. To reduce the risks arising from edaphoclimatic factors, the weather is monitored through meteorological stations and, in the event of pests and diseases, our Department of Forestry Research and Development, an area specialized in physiological and phytosanitary aspects, has procedures to diagnose and act rapidly against any occurrences and losses (Note 4.8).

The Company has no biological assets pledged for the year ended December 31, 2023 and the year ended December 31, 2022.

INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract]

Schedule of investments by type


	December 31, 2023	December 31, 2022

Investments in associates and joint ventures	355,520	354,200
Goodwill	228,887	233,399
Other investments evaluated at fair value through other comprehensive income – Celluforce	23,606	24,917
	608,013	612,516

Schedule of investments in associates and joint ventures


	Information of joint ventures as of December 31, 2023				Company Participation
					Carrying amount		In the income (expenses) for the year
	Equity	Income (expenses) of the year	Participation equity (%)		December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Associate
Ensyn Corporation	1,515	(29,648)	25.53	%	387	1,250	(12,448)	(1,036)
Spinnova Plc (1)	509,777	(56,567)	18.78	%	95,736	113,079	(20,109)	2,871
					96,123	114,329	(32,557)	1,835

Joint ventures
Domestic (Brazil)
Biomas	16,782	(13,218)	16.66	%	2,797		(2,203)
Ibema Companhia Brasileira de Papel	314,033	103,399	49.90	%	156,703	158,996	35,161	48,891
Foreign
F&E Technologies LLC	9,973		50.00	%	4,987	5,230
Woodspin Oy	189,821	(39,560)	50.00	%	94,910	75,645	(19,780)	(2,220)
					259,397	239,871	13,178	46,671

Other movements					23,606	24,917		235,862
					23,606	24,917		235,862
					379,126	379,117	(19,379)	284,368

(1)The average share price quoted on the Nasdaq First North Growth Market (NFNGM) was EUR2.40 (two Euros and forty cents) on December 31, 2023 and (EUR5.44 (five Euros and forty-four cents) in December 31, 2022).

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about property, plant and equipment [abstract]

Schedule of property, plant and equipment


	Land	Buildings	Machinery, equipment and facilities	Work in progress	Other (1)	Total

Average rate %		3.57	6.36		17.75

Accumulated cost	9,791,102	9,415,818	43,949,632	1,603,915	1,104,601	65,865,068
Accumulated depreciation		(3,577,097)	(23,344,836)		(773,432)	(27,695,365)
Balance as of December 31, 2021	9,791,102	5,838,721	20,604,796	1,603,915	331,169	38,169,703
Additions	5,089	516	381,741	11,220,806	15,832	11,623,984
Additions of merged companies	3,829,344					3,829,344
Write-offs	(69,773)	(10,613)	(58,435)		(3,384)	(142,205)
Depreciation		(310,429)	(2,367,163)		(124,464)	(2,802,056)
Transfers	930,646	246,782	1,057,714	(2,451,570)	194,292	(22,136)
Accumulated cost	14,486,408	9,644,875	45,160,365	10,373,151	1,281,328	80,946,127
Accumulated depreciation		(3,879,898)	(25,541,712)		(867,883)	(30,289,493)
Balance as of December 31, 2022	14,486,408	5,764,977	19,618,653	10,373,151	413,445	50,656,634
Additions (2)	54,027	15	467,032	10,742,118	17,949	11,281,141
Amounts from the acquisition of MMC Brasil (3)	4,572	111,495	453,617	8,306	11,175	589,165
Write-offs	(25,090)	(36,184)	(133,249)		(56,869)	(251,392)
Depreciation		(313,304)	(2,570,734)		(145,092)	(3,029,130)
Transfers (4)	339,272	379,495	2,702,633	(3,638,466)	259,717	42,651
Accumulated cost	14,859,189	10,032,317	48,456,537	17,485,109	1,491,663	92,324,815
Accumulated depreciation		(4,125,823)	(27,918,585)		(991,338)	(33,035,746)
Balance as of December 31, 2023	14,859,189	5,906,494	20,537,952	17,485,109	500,325	59,289,069

(1)Includes vehicles, furniture and utensils and computer equipment.

(2)On December 31, 2023, the addition of work in progress refers, mainly to the Cerrado Project, of which R$393,042 is a cash effect in the previous periods (R$1,832,746 with non-cash effect on December 31, 2022).

(3)On June 1, 2023, the Company completed the acquisition of MMC Brasil and on November 1, 2023 the legal entity has fully merged by Suzano S.A. (Note 1.2.3.)

(4)Transfer between inventories, intangible and others within the year.

INTANGIBLE (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about intangible assets [abstract]

Schedule of goodwill and intangible assets with indefinite useful life


	December 31, 2023	December 31, 2022

Goodwill - Facepa	119,332	119,332
Goodwill - Fibria	7,897,051	7,897,051
Goodwill - MMC Brasil (1)	170,859
Other (2)	4,834	3,405
	8,192,076	8,019,788

(1)Refers to the goodwill of the MMC Brasil business combination, whose allocation of the purchase price is disclosed in note 1.2.3.

(2)Refers to other intangible assets with indefinite useful lives such as servitude of passage and electricity.

Summary of assumptions used in valuation of cash-generating units


Net average pulp price – Foreign market (US$/t)						662.1
Net average pulp price – Internal market (US$/t)						648.7
Average exchange rate (R$/US$)						5.15
Discount rate (pos-tax)						8.9% p.a.
Discount rate (pre-tax)						12.25% p.a.

Schedule of intangible assets with determined useful life


		December 31, 2023	December 31, 2022

Opening balance		7,173,183	8,014,740
Additions		104,931	90,499
Fair value adjustment MMC Brasil (1)		189,655
Write-offs		(2)	(51)
Amortization		(990,432)	(966,796)
Transfers and others		79,674	34,791
Closing balance		6,557,009	7,173,183
Represented by	Average rate %
Non-competition agreements	5.00	4,818	5,128
Port concessions	4.30	537,179	554,832
Lease agreements	16.90	6,875	14,374
Supplier agreements	12.90	40,739	55,554
Port service contracts	4.20	549,821	579,289
Cultivars	14.30	40,784	61,176
Trademarks and patents (1)	9.05	188,723	10,935
Customer portfolio	9.10	4,925,879	5,746,860
Supplier agreements	17.60	10,861	21,427
Software	20.00	141,178	113,946
Other	5.75	110,152	9,662
		6,557,009	7,173,183

Cost		12,378,761	12,004,503
Amortization		(5,821,752)	(4,831,320)
Closing balance		6,557,009	7,173,183

(1)On June 1, 2023, the Company completed the acquisition of MMC Brasil and on November 1, 2023 the legal entity has fully merged by Suzano S.A. (Note 1.2.3.)

TRADE ACCOUNTS PAYABLE (Tables)

12 Months Ended

Dec. 31, 2023

Trade and other payables [abstract]

Schedule of trade accounts payable


	December 31, 2023	December 31, 2022

In local currency
Third party (1) (2)	3,946,185	4,171,988
Related party (Note 11.1) (3)	1,023	3,776

In foreign currency
Third party (2)	1,625,011	2,030,806
	5,572,219	6,206,570

(1)Within the balance of suppliers, there are values under supplier finance arrangement that were subject to anticipation with financial institutions at the exclusive option of certain suppliers, without changing the originally defined purchase conditions (payment terms and negotiated prices). The balance related to such operations on December 31, 2023 was R$281,350 (R$416,643 at December 31, 2022).

(2)Within the balance of suppliers, the following balances refer to the Cerrado Project, R$523,408 (R$625,645 on December 31, 2022) in local currency and R$1,080,028 (R$1,370,833 on December 31, 2022) in foreign currency.

(3)The balance refers mainly to transactions with Ibema Companhia Brasileira de Papel.

LOANS, FINANCING AND DEBENTURES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about borrowings [abstract]

Schedule of loans, financing and debentures by type


		Average annual interest rate - %	Current		Non-current		Total
Type	Interest rate		December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

In foreign currency
BNDES	UMBNDES	7.5%		11,207				11,207
Bonds	Fixed	5.0%	841,625	907,059	40,122,749	43,218,286	40,964,374	44,125,345
Export credits (“export prepayments”)	SOFR/Fixed	5.8%	2,690,891	156,156	14,487,252	16,779,064	17,178,143	16,935,220
Assets financing	SOFR	3.1%	61,924	26,755	220,199	113,217	282,123	139,972
IFC - International Finance Corporation	SOFR	5.5%	731		2,871,399		2,872,130
Others			7,903	5,980			7,903	5,980
			3,603,074	1,107,157	57,701,599	60,110,567	61,304,673	61,217,724
In local currency
BNDES	TJLP	8.4%	49,348	69,495	199,988	246,004	249,336	315,499
BNDES	TLP	13.2%	57,060	41,640	3,123,727	1,775,991	3,180,787	1,817,631
BNDES	Fixed	4.0%	4,020	18,666		4,011	4,020	22,677
BNDES	SELIC	12.7%	65,013	67,115	857,419	814,320	922,432	881,435
CRA (“Agribusiness Receivables Certificates”)	CDI/IPCA	11.6%		1,829,966				1,829,966
Assets financing	CDI	12.3%	17,037		71,235		88,272
NCE (“Export credit notes”)	CDI	12.1%	3,114	76,463	100,000	1,277,616	103,114	1,354,079
NCR (“Rural producer certificates”)	CDI	10.3%	101,739	13,144	1,998,270	274,127	2,100,009	287,271
Export credits (“export prepayments”)	Fixed	8.4%	791,306	77,694		1,315,813	791,306	1,393,507
Debentures	CDI/IPCA	11.7%	66,536	33,689	8,362,207	5,421,113	8,428,743	5,454,802
			1,155,173	2,227,872	14,712,846	11,128,995	15,868,019	13,356,867
			4,758,247	3,335,029	72,414,445	71,239,562	77,172,692	74,574,591

Interest on financing			1,232,810	1,238,623			1,232,810	1,238,623
Non-current funding			3,525,437	2,096,406	72,414,445	71,239,562	75,939,882	73,335,968
			4,758,247	3,335,029	72,414,445	71,239,562	77,172,692	74,574,591

Schedule of changes in loans, financing and debentures


	December 31, 2023	December 31, 2022

Opening balance	74,574,591	79,628,629
Fundraising, net of issuance costs	10,944,794	1,335,715
Interest accrued	4,797,094	4,007,737
Monetary and exchange rate variations, net	(4,185,675)	(3,949,020)
Payment of principal	(4,296,447)	(2,517,934)
Payment of interest	(4,728,998)	(4,019,072)
Amortization of fundraising costs	67,333	69,649
Others (fair value adjustments to business combinations)		18,887
Closing balance	77,172,692	74,574,591

Schedule of non-current portion of loans, financing and debentures by maturity


	2025	2026	2027	2028	2029	2030 onwards	Total

In foreign currency
Bonds	1,638,631	2,511,857	3,364,504	2,390,464	8,460,351	21,756,942	40,122,749
Export credits (“export prepayments”)	5,303,913	4,684,879	3,772,028		726,432		14,487,252
Assets financing	62,740	65,170	64,944	27,345			220,199
IFC - International Finance Corporation			188,273	887,572	1,291,013	504,541	2,871,399
	7,005,284	7,261,906	7,389,749	3,305,381	10,477,796	22,261,483	57,701,599
In local currency
BNDES – TJLP	99,525	85,538	7,117	3,604	3,604	600	199,988
BNDES – TLP	69,785	92,134	152,944	150,111	135,949	2,522,804	3,123,727
BNDES – Selic	231,793	230,625	30,406	30,405	30,406	303,784	857,419
Asset financing	17,302	17,644	17,997	18,292			71,235
NCE (“Export credit notes”)			25,000	25,000	25,000	25,000	100,000
NCR (“Rural producer certificates”)						1,998,270	1,998,270
Debentures	2,340,550	2,335,130		748,466		2,938,061	8,362,207
	2,758,955	2,761,071	233,464	975,878	194,959	7,788,519	14,712,846
	9,764,239	10,022,977	7,623,213	4,281,259	10,672,755	30,050,002	72,414,445

Schedule of loans and financing by currency


	December 31, 2023	December 31, 2022

Brazilian Reais	15,868,019	13,347,244
US Dollars	61,304,673	61,216,140
Currency basket		11,207
	77,172,692	74,574,591

Schedule of fundraising costs and premiums of securities

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Presentation of leases for lessee [abstract]

Schedule of right of use assets

The balances rolled forward are set out below:


	Lands	Machinery and equipment	Buildings	Ships and boats	Vehicles	Total

Balance as of December 31, 2021	2,868,411	86,464	88,410	1,748,008	2,730	4,794,023
Additions/updates	849,996	66,821	61,647		4,216	982,680
Depreciation (1)	(360,225)	(40,732)	(64,301)	(124,890)	(2,303)	(592,451)
Write-offs (2)	(75,026)					(75,026)
Balance as of December 31, 2022	3,283,156	112,553	85,756	1,623,118	4,643	5,109,226
Additions/updates	496,236	206,847	101,124		9,702	813,909
Depreciation (1)	(386,436)	(134,587)	(59,448)	(124,890)	(2,346)	(707,707)
Write-offs (2)	(12,658)				(6,139)	(18,797)
Balance as of December 31, 2023	3,380,298	184,813	127,432	1,498,228	5,860	5,196,631

(1)The amount of depreciation related to land is substantially reclassified to biological assets to make up the formation costs.

(2)Write-off due to cancellation of contracts.

Schedule of present value of lease liabilities

The balance of lease payables on December 31, 2023, measured at present value and discounted at the respective discount rates are set forth below:


Nature of agreement	Average rate – % p.a. (1)	Maturity (2)	Present value of liabilities

Lands and farms	12.52	September, 2051	3,711,023
Machinery and equipment	11.43	April, 2035	259,482
Buildings	10.84	December, 2033	122,066
Ships and boats	11.39	February, 2039	2,145,682
Vehicles	11.29	November, 2028	5,529
			6,243,782

(1)To determine the discount rates, quotes were obtained from financial institutions for agreements with characteristics and average terms similar to the lease agreements.

(2)Refers to the original maturities of the agreements and, therefore, does not consider eventual renewal clauses.

Summary of changes in lease liabilities

The balances rolled forward are set out below:


	December 31, 2023	December 31, 2022

Opening balance	6,182,530	5,893,194
Additions	813,909	982,680
Write-offs	(18,797)	(75,026)
Payments	(1,218,399)	(1,044,119)
Accrual of financial charges (1)	664,651	612,042
Exchange rate variations	(180,112)	(186,241)
Closing balance	6,243,782	6,182,530

Current	753,399	672,174
Non-current	5,490,383	5,510,356

(1)On December 31, 2023, the amount of R$223,055 related to interest expenses on leased lands was capitalized to biological assets to represent the formation cost (R$178,429 as of December 31, 2022).

Schedule of expenses recognised in profit or loss

The amounts recognized are set out below:


	December 31, 2023	December 31, 2022

Expenses relating to short-term assets	8,005	6,836
Expenses relating to low-value assets	2,611	1,580
	10,616	8,416

PROVISION FOR JUDICIAL LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of other provisions [abstract]

Disclosure of provisions [text block]


	December 31, 2023
	Tax and social security	Labor	Civil, environment and real estate	Contingent liabilities assumed (1) (2)	Total

Provision balance at the beginning of the year	419,915	255,805	118,729	2,645,705	3,440,154
Payments	(1,717)	(37,172)	(3,014)		(41,903)
Reversals	(18,035)	(101,375)	(11,337)	(490,160)	(620,907)
Additions	37,656	211,690	21,335		270,681
Monetary adjustment	31,020	20,110	13,722		64,852
Provision balance	468,839	349,058	139,435	2,155,545	3,112,877
Judicial deposits	(154,469)	(82,305)	(15,694)		(252,468)
Provision balance at the end of the year	314,370	266,753	123,741	2,155,545	2,860,409

(1)Amounts arising from tax-related lawsuits with a possible or remote probability of loss in the amount of R$2,015,075 and civil lawsuits in the amount of R$140,470, measured and recorded at the estimated fair value resulting from the business combination with Fibria.

(2)Reversal due to a change in likelihood, cancellation and/or due to settlement. The amount of R$372,541 refers to the penalty cancellation of the contingent liability assumed on the business combination with Fibria, described in note 20.2.1(i).


	December 31, 2022
	Tax and social security	Labor	Civil, environment and real estate	Contingent liabilities assumed (1) (2)	Total

Provision balance at the beginning of the year	477,096	178,925	82,592	2,694,541	3,433,154
Payments	(14,948)	(44,516)	(20,497)		(79,961)
Reversals	(71,446)	(53,211)	(15,577)	(48,836)	(189,070)
Additions	14,036	157,562	56,834		228,432
Monetary adjustment	15,177	17,045	15,377		47,599
Provision balance	419,915	255,805	118,729	2,645,705	3,440,154
Judicial deposits	(149,951)	(12,270)	(21,623)		(183,844)
Provision balance at the end of the year	269,964	243,535	97,106	2,645,705	3,256,310

(1)Amounts arising from tax-related lawsuits with a possible or remote probability of loss in the amount of R$2,448,564 and civil lawsuits in the amount of R$197,141, measured and recorded at the estimated fair value resulting from the business combination with Fibria.

(2)Reversal due to a change in likelihood and/or due to settlement.

Schedule of possible losses for which no provision has been recorded

The Company is involved in tax, civil and labor lawsuits, whose losses have been assessed as possible by Management, supported by legal counsel, and therefore no provision was recorded:


	December 31, 2023	December 31, 2022

Taxes and social security (1)	9,775,068	8,201,246
Labor	194,883	321,428
Civil and environmental (1)	4,462,964	4,414,877
	14,432,915	12,937,551

(1)The amounts above do not include the fair value adjustments allocated to possible loss risk contingencies representing R$2,135,869 (R$2,614,518 as of December 31, 2022), which were recorded at fair value resulting from business combinations with Fibria as presented in Note 20.1. above.

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of information about defined benefit plans [abstract]

Schedule of changes in actuarial liabilities

The roll-forward of actuarial liabilities prepared based on actuarial report is set forth below:


	December 31, 2023	December 31, 2022

Opening balance	691,424	675,158
Interest on actuarial liabilities	67,272	58,420
Current service cost	1,959	838
Actuarial loss – experience	57,765	74,794
Actuarial loss (gain) – financial assumptions	70,762	(62,563)
Exchange rate variations		(577)
Benefits paid directly by entity	(55,499)	(54,646)
Closing balance	833,683	691,424

Schedule of key actuarial economic and biometric assumptions used in the calculations of liability

The main economic actuarial assumptions and biometric data used in the actuarial calculations are set forth below:


	December 31, 2023					December 31, 2022

Economic
Nominal discount rate – medical assistance and life insurance		9.14	%	p.a.			10.07	%	p.a.
Medical cost growth rate		6.86	%	p.a.			6.86	%	p.a.
Nominal inflation		3.50	%	p.a.			3.50	%	p.a.
Aging factor	0 to 24 years:	1.50	%	p.a.		0 to 24 years:	1.50	%	p.a.
	25 to 54 years:	2.50	%	p.a.		25 to 54 years:	2.50	%	p.a.
	55 to 79 years:	4.50	%	p.a.		55 to 79 years:	4.50	%	p.a.
	Above 80 years:	2.50	%	p.a.		Above 80 years:	2.50	%	p.a.
Biometric
Table of general mortality		AT-2000					AT-2000
Table of mortality of disabled persons		IAPB 57					IAPB 57
Turnover		1.00	%	p.a.			1.00	%	p.a.
Other
Retirement age		65 years					65 years
	Men 4 years + old					Men 4 years + old
Family composition	and 90% married					and 90% married
Permanency in the plan		100			%		100			%

Summary of sensitivity analysis of actuarial liabilities

The sensitivity analysis regarding the relevant assumptions of the plans show the impact on the liability balance:

Discount rate

Medical costs growth rate

+0.50%

852,688

+1.00%

896,842

Schedule of expected benefit obligation payments for future years

The expected benefit payments for future years (ten years), from the obligation of benefits granted and the average duration of the plan obligations are as set forth below:


Payments						Medical assistance and life insurance

2024						50,482
2025						53,893
2026						57,429
2027						61,010
2028						64,717
2029 to 2033						376,635

SHARE-BASED COMPENSATION PLAN (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Schedule of changes in long term compensation plans

The roll-forward arrangements are set out below:


	December 31, 2023	December 31, 2022	December 31, 2021
	Number of shares

Opening balance	7,583,185	5,415,754	5,772,356
Granted during of the year	3,391,581	4,152,200	1,906,343
Exercised (1)	(871,208)	(1,474,506)	(1,860,334)
Exercised due to resignation (1)	(30,800)	(175,552)	(86,196)
Abandoned/cancelled due to resignation	(344,333)	(334,711)	(316,415)
Closing balance	9,728,425	7,583,185	5,415,754

(1)The average price of the share options exercised and exercised due to termination of employment on December 31, 2023 was R$58.07 (fifty-eight reais and seven cents) (R$48.79 (forty-eight reais and seventy-nine cents) as of December 31, 2022).

Schedule of outstanding phantom shares option plans

On December 31, 2023, the consolidated outstanding phantom shares option plans is as set out below:


Grant date	Fair value on grant date(1)	Quantity of outstanding options granted

04/01/2019	42.81	39,461
04/01/2020	38.50	93,619
05/01/2020	38.34	890,542
03/01/2021	57.88	545,861
04/01/2021	64.12	1,163,149
07/01/2021	67.72	8,516
08/02/2021	63.73	3,969
10/01/2021	58.05	2,524
01/17/2022	55.18	68,099
03/01/2022	56.52	794,178
04/01/2022	58.64	2,624,219
06/02/2022	55.43	3,789
08/01/2022	51.00	3,832
10/01/2022	47.71	192,605
01/09/2023	49.69	15,094
02/01/2023	50.46	1,328
03/01/2023	50.59	1,050,901
04/01/2023	48.06	2,152,208
06/01/2023	47.18	1,842
07/01/2023	44.07	20,751
07/10/2023	43.86	9,120
07/11/2023	43.82	34,231
10/01/2023	45.79	6,552
10/03/2023	48.15	2,035
		9,728,425

(1)Amounts expressed in Reais.

Summary of activity for common stock options

The position is set forth below:


Grant date	Fair value on grant date (1)	Shares Granted	Restricted year for transfer of shares

01/02/2021	51.70	111,685	01/02/2024
01/02/2022	53.81	113,161	01/02/2025
01/02/2023	52.00	101,164	01/02/2026
01/02/2023	49.58	161,355	01/02/2026
01/02/2024	53.63	105,384	01/02/2027
		592,749

(1)Amounts expressed in Reais.

Schedule of amounts corresponding to services received and recognized

The amounts corresponding to the services received and recognized are set forth below:


	Liabilities and Equity		Statement of income and Equity
	December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022	December 31, 2021

Non-current liabilities
Provision for phantom stock plan	268,489	162,117	(154,318)	(75,542)	(94,897)
Equity
Stock options granted	26,744	20,790	(8,319)	(5,335)	(4,843)
Shares granted		(2,365)		2,365
	26,744	18,425	(8,319)	(2,970)	(4,843)
			(162,637)	(78,512)	(99,740)

LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES (Tables)

12 Months Ended

Dec. 31, 2023

LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES

Disclosure of Liabilities for Assets Acquisitions [Text Block]


	December 31, 2023	December 31, 2022

Assets acquisitions
Vitex/Parkia (1)		1,758,365
		1,758,365
Business combinations
Facepa (2)	25,924	42,655
Vale Florestar Fundo de Investimento em Participações (“VFFIP”) (3)	161,263	261,302
	187,187	303,957
	187,187	2,062,322

Current	93,405	1,856,763
Non-current	93,782	205,559

(1)On June 22, 2022, the Company acquired all the shares of the Parkia structure companies, in the amount of US$667,000 (equivalent to R$3,444,255 on the date of execution of the agreement), upon the payment of US$330,000 (equivalent to R$1,704,054 on the date of the transaction), on June 22, 2023, the payment of the second installment in the amount of US$337,000 (equivalent to R$1,615,140 on the transaction date) was made.

(2)Acquired in March 2018, for the amount of R$307,876, upon the payment of R$267,876, with the remainder updated at the IPCA, adjusted for possible losses incurred up to the payment date, with maturity in March 2028.

(3)On August 2014, the Company acquired Vale Florestar S.A. through VFFIP, for a total amount of R$528,941 upon the payment of R$44,998, and the remainder with maturity up to August 2029. The annual settlements, carried out in the month of August, are subject to interest and updated by the variations of the US Dollar exchange rate, and partially updated by the IPCA.

SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of classes of share capital [abstract]

Schedule of share capital


	December 31, 2023		December 31, 2022
	Quantity	(%)	Quantity	(%)

Controlling Shareholders
Suzano Holding S.A.	367,612,329	27.76	367,612,329	27.01
Controller	196,065,636	14.81	195,064,797	14.33
Managements and related persons	32,105,783	2.42	34,102,309	2.51
Alden Fundo de Investimento em Ações	26,154,744	1.98	26,154,744	1.91
	621,938,492	46.97	622,934,179	45.76
Treasury (Note 25.5)	34,765,600	2.63	51,911,569	3.81
Other shareholders	667,413,523	50.40	686,417,836	50.43
	1,324,117,615	100.00	1,361,263,584	100.00

Schedule of calculation of mandatory minimum dividends


	December, 31 2023	December, 31 2022

Accounting EBITDA	19,537,398	29,630,671
Non-recurring and/or non-cash items	(1,264,428)	(1,435,769)
Adjusted EBTIDA	18,272,970	28,194,902
Capex Maintenance (Sustain)	(6,706,367)	(5,631,234)
GCO = Adjusted EBTIDA - Capex Maintenance	11,566,603	22,563,668

Dividends (10%) - Art. 26, "c" of the Bylaws	1,156,660	2,256,367
Interest on own capital distributed and dividends (1)	1,500,000	2,350,000
Withholding income tax	(190,119)
Interest on own capital distributed in excess (2)	(153,221)
Additional dividends		(93,633)

(1)On December 31, 2023, refers to Interest on own capital (Note 1.2.7).

(2)Considering that the distribution of Interest on own capital in the year ending in 2023 exceeded the minimum mandatory dividends, the Company does not expect to propose additional dividends at the next shareholders' meeting.

Schedule of other reserves

These are changes that occur in shareholders’ equity arising from transactions and other events that do not originate with shareholders and are disclosed net of tax effects, as set forth below:


	Debenture conversion 5th issue	Actuarial loss	Exchange variation and fair value of financial assets	Exchange variation on conversion of financial statements of foreign subsidiaries	Deemed cost	Total

Balances at December 31, 2021	(45,746)	(137,191)	7,844	252,311	2,037,689	2,114,907
Actuarial loss		(7,608)				(7,608)
Loss on conversion of financial assets and fair value			(5,681)			(5,681)
Loss on conversion of financial statements and on foreign investments				(249,093)		(249,093)
Partial realization of deemed cost, net of taxes					(133,009)	(133,009)
Balances at December 31, 2022	(45,746)	(144,799)	2,163	3,218	1,904,680	1,719,516
Actuarial loss		(84,828)				(84,828)
Loss on conversion of financial assets and fair value			(865)			(865)
Gain on conversion of financial statements and on foreign investments				5,178		5,178
Partial realization of deemed cost, net of taxes					(100,705)	(100,705)
Balances at December 31, 2023	(45,746)	(229,627)	1,298	8,396	1,803,975	1,538,296

Schedule of treasury shares


	Quantity	Average cost per share	Historical value	Market value

Balances at December 31, 2021	12,042,004	18.13	218,265	656,530
Exercised	(130,435)	18.13	(2,365)	(8,156)
Repurchase	40,000,000	47.61	1,904,424	1,904,424
Balances at December 31, 2022	51,911,569	40.84	2,120,324	2,504,214
Repurchase	20,000,000	44.05	880,914	880,914
Canceled	(37,145,969)	40.84	(1,517,224)	(1,570,532)
Balances at December 31, 2023	34,765,600	42.69	1,484,014	1,934,010

Schedule of result absorption


	Limit on share capital%		Distribution of results		Reserve balances
			December 31, 2023	December 31, 2022	December 31, 2023	December 31, 2022

Realization of deemed cost, net of taxes			(100,705)	(133,009)
Tax incentive reserve			118,959	66,871	998,237	879,278
Legal reserve	20	%	443,010	1,169,080	1,847,109	1,404,099
Capital increase reserve	80	%	10,911,226	17,937,885	15,670,952	19,732,050
Special statutory reserve	20	%	1,212,358	1,993,098	1,887,576	2,192,442
Investment reserve					14,972,324
Capital reserve					26,744	18,425
Unclaimed dividends forfeited				(2,308)
Proposed minimum mandatory dividends				2,256,367
Proposed additional dividend				93,633
Interest on own capital			1,500,000
			14,084,848	23,381,617	35,402,942	24,226,294

EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

Schedule of basic earnings (losses) per share

The basic earnings (loss) per share is measured by dividing the profit attributable to the Company’s shareholders by the weighted average number of common shares issued during the period, excluding the common shares acquired by the Company and held as treasury shares.


	December 31, 2023	December 31, 2022	December 31, 2021

Resulted of the year attributable to controlling shareholders	14,084,848	23,381,617	8,626,386
Weighted average number of shares in the year – in thousands	1,330,020	1,361,264	1,361,264
Weighted average treasury shares – in thousands	(32,827)	(31,043)	(12,042)
Weighted average number of outstanding shares – in thousands	1,297,193	1,330,221	1,349,222
Basic earnings (loss) per common share – R$	10.85794	17.57724	6.39360

Schedule of diluted earnings (losses) per share

The diluted earnings (loss) per share is measured by adjusting the weighted average of outstanding common shares, assuming the conversion of all common shares with dilutive effects.


	December 31, 2023	December 31, 2022	December 31, 2021

Resulted of the year attributed to controlling shareholders	14,084,848	23,381,617	8,626,386
Weighted average number of shares during the year (except treasury shares) – in thousands	1,297,193	1,330,221	1,349,222
Average number of potential shares (stock options) - in thousands	487	317	327
Weighted average number of shares (diluted) – in thousands	1,297,680	1,330,538	1,349,549
Diluted earnings (loss) per common share – R$	10.85387	17.57305	6.39205

NET FINANCIAL RESULT (Tables)

12 Months Ended

Dec. 31, 2023

NET FINANCIAL RESULT

Schedule of net financial result


	December 31, 2023	December 31, 2022	December 31, 2021

Financial expenses
Interest on loans, financing and debentures (1)	(3,636,730)	(3,648,330)	(3,188,654)
Early settlement premium expenses			(260,289)
Amortization of transaction costs (2)	(67,353)	(69,881)	(107,239)
Interest expenses on lease liabilities (3)	(441,596)	(433,613)	(560,619)
Amortization of fair value adjustments		(18,887)	(5,543)
Other	(513,483)	(419,659)	(98,957)
	(4,659,162)	(4,590,370)	(4,221,301)
Financial income
Cash and cash equivalents and marketable securities	1,668,408	818,780	205,574
Amortization of fair value adjustments to business combinations			9,110
Other	157,241	148,230	57,872
	1,825,649	967,010	272,556
Results from derivative financial instruments
Income	10,149,730	11,969,288	5,582,352
Expenses	(4,623,016)	(5,207,721)	(7,180,014)
	5,526,714	6,761,567	(1,597,662)
Monetary and exchange rate variations, net
Exchange rate variations on loans, financing and debentures	4,185,675	3,949,020	(4,847,320)
Leases	180,112	186,241	(194,415)
Other assets and liabilities (3)	(1,278,060)	(840,668)	1,240,908
	3,087,727	3,294,593	(3,800,827)
Net financial result	5,780,928	6,432,800	(9,347,234)

(1)Excludes R$1,160,364 arising from capitalized loan costs, substantially related to property, plant and equipment in progress of the Cerrado Project for the year ended December 31, 2023 (R$359,407 as of December 31, 2022).

(2)Includes expense of R$19 arising from transaction costs on loans and financing that were recognized directly in the statement of income (R$232 as of December 31, 2022).

(3)Includes R$223,055 referring to the reclassification to the biological assets item for the composition of the formation cost (R$178,429 as of December 31, 2022).

(4)Includes effects of exchange rate variations of trade accounts receivable, trade accounts payable, cash and cash equivalents, marketable securities and others.

NET SALES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of disaggregation of revenue from contracts with customers [abstract]

Schedule of reconciliation from gross sales to net sales revenue


	December 31, 2023	December 31, 2022	December 31, 2021

Gross sales	47,601,020	59,550,424	48,479,827
Sales deductions
Returns and cancellations	(155,950)	(91,291)	(69,764)
Discounts and rebates	(5,526,032)	(7,459,520)	(5,717,412)
	41,919,038	51,999,613	42,692,651
Taxes on sales	(2,163,463)	(2,168,667)	(1,727,220)
Net sales	39,755,575	49,830,946	40,965,431

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of operating segments [abstract]

Schedule of operating segments


	December 31, 2023
	Pulp		Paper		Total

Net sales	30,677,265		9,078,310		39,755,575
Domestic market (Brazil)	2,144,199		6,719,093		8,863,292
Foreign markets	28,533,066		2,359,217		30,892,283
Asia	13,588,032		72,133		13,660,165
Europe	8,701,141		302,131		9,003,272
North America	5,682,010		476,429		6,158,439
South and Central America	558,601		1,437,181		1,995,782
Africa	3,282		71,343		74,625
EBITDA	16,052,028		3,485,370		19,537,398
Depreciation, depletion and amortization					(7,321,110)
Operating profit before net financial income (“EBIT”) (1)					12,216,288
EBITDA margin (%)	52.33	%	38.39	%	49.14	%

(1)(“Earnings before interest and tax”).


	December 31, 2022
	Pulp		Paper		Total

Net sales	41,384,322		8,446,624		49,830,946
Domestic market (Brazil)	2,665,746		5,858,892		8,524,638
Foreign markets	38,718,576		2,587,732		41,306,308
Asia	18,294,046		4,059		18,298,105
Europe	12,768,321		325,503		13,093,824
North America	7,055,625		608,734		7,664,359
South and Central America	592,360		1,641,277		2,233,637
Africa	8,224		8,159		16,383
EBITDA	26,098,309		3,532,362		29,630,671
Depreciation, depletion and amortization					(7,407,890)
Operating profit before net financial income (“EBIT”) (1)					22,222,781
EBITDA margin (%)	63.06	%	41.82	%	59.46	%

(1)(“Earnings before interest and tax”).


	December 31, 2021
	Pulp		Paper		Total

Net sales	34,715,208		6,250,223		40,965,431
Domestic market (Brazil)	2,338,810		4,380,585		6,719,395
Foreign markets	32,376,398		1,869,638		34,246,036
Asia	15,952,786		43,961		15,996,747
Europe	10,477,292		318,666		10,795,958
North America	5,694,273		424,909		6,119,182
South and Central America	233,061		1,026,247		1,259,308
Africa	18,986		55,855		74,841
EBITDA	22,735,409		2,486,445		25,221,854
Depreciation, depletion and amortization					(7,041,663)
Operating profit before net financial income (“EBIT”) (1)					18,180,191
EBITDA margin (%)	65.49	%	39.78	%	61.57	%

(1)(“Earnings before interest and tax”).

Schedule of net sales by product


Products	December 31, 2023	December 31, 2022	December 31, 2021

Market pulp (1)	30,677,265	41,384,322	34,715,208
Printing and writing paper (2)	7,567,320	6,912,984	5,107,960
Paperboard	1,417,075	1,421,338	1,091,588
Other	93,915	112,302	50,675
	39,755,575	49,830,946	40,965,431

(1)Net sales of fluff pulp represent approximately 0.78% of total net sales, and therefore were included in market pulp net sales. (0.80% as of December 31, 2022).

(2)Net sales of tissue represent approximately 5.14% of total net sales, and therefore were included in printing and writing paper net sales. (2.3% as of December 31, 2022).

Goodwill based on expected future profitability


	December 31, 2023	December 31, 2022

Pulp	7,897,051	7,897,051
Paper	290,191	119,332
	8,187,242	8,016,383

RESULTS BY NATURE (Tables)

12 Months Ended

Dec. 31, 2023

Expenses by nature [abstract]

Schedule of results by nature


	December 31, 2023	December 31, 2022	December 31, 2021

Cost of sales
Personnel expenses	(1,450,428)	(1,467,896)	(1,174,460)
Costs of raw materials, materials and services	(10,981,883)	(11,463,862)	(8,731,670)
Logistics costs	(4,341,369)	(4,795,161)	(4,328,046)
Depreciation, depletion and amortization	(6,718,474)	(6,406,610)	(5,988,248)
Other (1)	(1,584,521)	(687,759)	(393,164)
	(25,076,675)	(24,821,288)	(20,615,588)
Selling expenses
Personnel expenses	(281,673)	(244,681)	(219,590)
Services	(173,494)	(146,184)	(121,568)
Logistics costs	(1,067,031)	(1,065,416)	(947,551)
Depreciation and amortization	(952,033)	(951,626)	(944,361)
Other (2)	(122,146)	(75,287)	(58,652)
	(2,596,377)	(2,483,194)	(2,291,722)

General and administrative expenses
Personnel expenses	(1,172,538)	(1,039,733)	(984,513)
Services	(406,001)	(378,986)	(330,727)
Depreciation and amortization	(118,771)	(101,764)	(103,867)
Other (3)	(225,918)	(189,284)	(158,802)
	(1,923,228)	(1,709,767)	(1,577,909)

Other operating (expenses) income net
Rents and leases	3,971	2,164	3,321
Results from sales of other products, net	79,046	58,880	31,865
Results from sales and disposals of property, plant and equipment, intangible and biological assets, net	(331,285)	(509)	413,052
Result from fair value adjustments of biological assets	1,989,831	1,199,759	763,091
Depletion, amortization and other PPA realizations (4)	468,168	52,110	(5,187)
Tax credits - gains in tax lawsuits (exclusion of ICMS from the PIS/COFINS calculation basis)		(1,324)	441,880
Provision for judicial liabilities	(167,563)	(156,243)
Other operating income (expenses), net	34,204	(33,121)	45
	2,076,372	1,121,716	1,648,067

(1)Includes R$650,592 related to maintenance downtime, costing (R$525,882 as of December 31, 2022).

(2)Includes expected credit losses, insurance, materials for use and consumption, travel, accommodation, trade fairs and events.

(3)Includes, substantially, corporate expenses, insurance, materials for use and consumption, social programs and donations, travel and accommodation.

(4)Refers, substantially, to the write-off of contingent liabilities assumed in Fibria's PPA as disclosed in note 20.1.

COMPANY'S OPERATIONS - Summary (Details)	12 Months Ended
COMPANY'S OPERATIONS - Summary (Details)	Dec. 31, 2023 item BRL (R$)
COMPANY'S OPERATIONS
Number of industrial units	13
Number of technology centers	4
Number of distribution centers	30
Fibria
COMPANY'S OPERATIONS
Number of ports \| R$	4
Suzano Industrial \| State of Sao Paulo
COMPANY'S OPERATIONS
Number of industrial units \| R$	2
Suzano Holding
COMPANY'S OPERATIONS
Percentage of ownership interest in subsidiary	46.97%

COMPANY'S OPERATIONS - Equity interest (Details)	12 Months Ended
COMPANY'S OPERATIONS - Equity interest (Details)	Dec. 31, 2023	Dec. 31, 2022
F&E Tecnologia do Brasil S.A.
COMPANY'S OPERATIONS
Main activity	Biofuel production, except alcohol
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Fibria Celulose (USA) Inc.
COMPANY'S OPERATIONS
Main activity	Business office
Country	United States of America
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Fibria Overseas Finance Ltd.
COMPANY'S OPERATIONS
Main activity	Financial fundraising
Country	Cayman Island
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Fibria Terminal de Celulose de Santos SPE S.A.
COMPANY'S OPERATIONS
Main activity	Port operations
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
FuturaGene Ltd.
COMPANY'S OPERATIONS
Main activity	Biotechnology research and development
Country	England
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
FuturaGene Delaware Inc.
COMPANY'S OPERATIONS
Main activity	Biotechnology research and development
Country	United States of America
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
FuturaGene Israel Ltd.
COMPANY'S OPERATIONS
Main activity	Biotechnology research and development
Country	Israel
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
FuturaGene Inc.
COMPANY'S OPERATIONS
Main activity	Biotechnology research and development
Country	United States of America
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Maxcel Empreendimentos e Participacoes S.A.
COMPANY'S OPERATIONS
Main activity	Holding
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Itacel - Terminal de Celulose de Itaqui S.A.
COMPANY'S OPERATIONS
Main activity	Port operations
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
MMC Brasil Indústria e Comércio Ltda [Member]
COMPANY'S OPERATIONS
Main activity	Industrialization and commercialization of wipes, cleaning and sanitary and personal hygiene products.
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	0.00%
Mucuri Energetica S.A
COMPANY'S OPERATIONS
Main activity	Power generation and distribution
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Paineiras Logistica e Transportes Ltda.
COMPANY'S OPERATIONS
Main activity	Road freight transport
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Portocel - Terminal Espec. Barra do Riacho S.A.
COMPANY'S OPERATIONS
Main activity	Port operations
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	51.00%	51.00%
Projetos Especiais e Investimentos Ltda.
COMPANY'S OPERATIONS
Main activity	Commercialization of equipment and parts
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
SFBC Participacoes Ltda.
COMPANY'S OPERATIONS
Main activity	Packaging production
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Stenfar S.A. Indl. Coml. Imp. Y. Exp.
COMPANY'S OPERATIONS
Main activity	Commercialization of paper and computer materials
Country	Argentina
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Austria GmbH
COMPANY'S OPERATIONS
Main activity	Financial fundraising
Country	Austria
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Canada Inc.
COMPANY'S OPERATIONS
Main activity	Lignin research and development
Country	Canada
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Ecuador S.A.S. [Member]
COMPANY'S OPERATIONS
Main activity	Business office
Country	Ecuador
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%
Suzano Finland Oy
COMPANY'S OPERATIONS
Main activity	Industrialization and commercialization of cellulose, microfiber cellulose and paper
Country	Finland
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano International Finance B.V
COMPANY'S OPERATIONS
Main activity	Financial fundraising
Country	Netherlands
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano International Holding B.V [Member]
COMPANY'S OPERATIONS
Main activity	Holding
Country	Netherlands
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%
Suzano International Trade GmbH
COMPANY'S OPERATIONS
Main activity	Business office
Country	Austria
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Material Technology Development Ltd.
COMPANY'S OPERATIONS
Main activity	Biotechnology research and development
Country	China
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Netherlands B.V. [Member]
COMPANY'S OPERATIONS
Main activity	Financial fundraising
Country	Netherlands
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%
Suzano Operacoes Industriais e Florestais S.A.
COMPANY'S OPERATIONS
Main activity	Industrialization, commercialization and exporting of pulp
Country	Brazil
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Pulp and Paper America Inc.
COMPANY'S OPERATIONS
Main activity	Business office
Country	United States of America
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Pulp and Paper Europe S.A.
COMPANY'S OPERATIONS
Main activity	Business office
Country	Switzerland
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Shanghai Ltd.
COMPANY'S OPERATIONS
Main activity	Business office
Country	China
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Trading Ltd.
COMPANY'S OPERATIONS
Main activity	Business office
Country	China
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%
Suzano Singapore Pte. Ltd [Member]
COMPANY'S OPERATIONS
Main activity	Business office
Country	Singapore
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%
Suzano Trading International KFT
COMPANY'S OPERATIONS
Main activity	Business office
Country	Hungary
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Suzano Ventures LLC
COMPANY'S OPERATIONS
Main activity	Corporate venture capital
Country	United States of America
Percentage of ownership equity interests, Accounting method, Consolidated	100.00%	100.00%
Veracel Celulose S.A.
COMPANY'S OPERATIONS
Main activity	Industrialization, commercialization and exporting of pulp
Country	Brazil
Percentage of ownership equity interests, Accounting method, Fair value through other comprehensive income	50.00%	50.00%
Biomas Serviços Ambientais, Restauração e Carbono S.A.
COMPANY'S OPERATIONS
Main activity	Restoration, conservation and preservation of forests
Country	Brazil
Percentage of ownership equity interests, Accounting method, Equity	16.66%	100.00%
Ensyn Corporation
COMPANY'S OPERATIONS
Main activity	Biofuel research and development
Country	United States of America
Percentage of ownership equity interests, Accounting method, Equity	25.53%	26.59%
F&E Technologies LLC
COMPANY'S OPERATIONS
Main activity	Biofuel production, except alcohol
Country	United States of America
Percentage of ownership equity interests, Accounting method, Equity	50.00%	50.00%
Ibema Companhia Brasileira de Papel
COMPANY'S OPERATIONS
Main activity	Industrialization and commercialization of paperboard
Country	Brazil
Percentage of ownership equity interests, Accounting method, Equity	49.90%	49.90%
Spinnova Plc
COMPANY'S OPERATIONS
Main activity	Research of sustainable raw materials for the textile industry
Country	Finland
Percentage of ownership equity interests, Accounting method, Equity	18.78%	19.03%
Woodspin Oy
COMPANY'S OPERATIONS
Main activity	Development and production of cellulose-based fibers, yarns and textile filaments
Country	Finland
Percentage of ownership equity interests, Accounting method, Equity	50.00%	50.00%
Celluforce Inc.
COMPANY'S OPERATIONS
Main activity	Nanocrystalline pulp research and development
Country	Canada
Percentage of ownership equity interests, Accounting method, Fair value through other comprehensive income	8.28%	8.28%

COMPANY'S OPERATIONS - Dividends (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
COMPANY'S OPERATIONS
Amount of interim dividends declared	R$ 1,500,000	R$ 2,350,000
Amount of supplementary dividends approved		R$ 799,903

COMPANY'S OPERATIONS - Share Purchase and Sale Agreement (Details) - Vitex/Parkia R$ in Thousands, $ in Thousands	Jun. 22, 2023 USD ($)	Jun. 22, 2023 BRL (R$)	Jun. 22, 2022 USD ($)	Jun. 22, 2022 BRL (R$)
COMPANY'S OPERATIONS
Additional payment for adjusted price	$ 337,000	R$ 1,615,140
Purchase and sale agreement, first installment
COMPANY'S OPERATIONS
Payment amount for asset acquisition			$ 330,000	R$ 1,704,054

COMPANY'S OPERATIONS - Acquisition of tissue business in Brazil (Details) R$ in Thousands, $ in Thousands	Nov. 01, 2023 BRL (R$)	Sep. 15, 2023 BRL (R$)	Jun. 01, 2023 BRL (R$)	Jun. 01, 2023 USD ($)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 BRL (R$)	Dec. 31, 2021 BRL (R$)	Dec. 31, 2020 BRL (R$)
COMPANY'S OPERATIONS
Equity					R$ (44,810,300)	R$ (33,166,365)	R$ (15,175,130)	R$ (7,337,378)
Property, plant and equipment					59,289,069	50,656,634	R$ 38,169,703
Goodwill					228,887	R$ 233,399
Kimberly-Clark's tissue business in Brazil
COMPANY'S OPERATIONS
Expected price of business combination		R$ 1,060,718	R$ 1,072,657	$ 212,029,000
Reimbursement referring to the variation in the final balance related to working capital		R$ 11,939
MMC Brasil [Member]
COMPANY'S OPERATIONS
Equity					587,226
Inventories					7,120
Property, plant and equipment					105,858
Trademark and patents					189,655
Net identifiable assets acquired					889,859
Goodwill					R$ 170,859
Administrative expenses	R$ 22,752

COMPANY'S OPERATIONS - Biomas (Details) - Biomas [Member] - Joint ventures where entity is venturer [member] - BRL (R$) R$ in Thousands	Dec. 31, 2023	Feb. 27, 2023
COMPANY'S OPERATIONS [Line Items]
Commitment to invest in Joint Venture, under the terms of the respective agreements.		R$ 20,000
Amount paid in full by all joint venture partners	R$ 30
Amount paid in full by each joint venture partner	5
Amount payable by all joint venture partners	90
Amount payable to each joint venture partner	R$ 15
Percentage of shareholdings of each company participating in the Joint Venture	16.66%

COMPANY'S OPERATIONS - Treasury shares cancelled (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands		12 Months Ended
	Feb. 28, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
COMPANY'S OPERATIONS [Line Items]
Treasury shares cancelled
Treasury shares		R$ 1,484,014	R$ 2,120,324	R$ 218,265
Number of shares outstanding		1,324,117,615,000	1,361,263,584,000
Equity attributable to owners of parent [member]
COMPANY'S OPERATIONS [Line Items]
Treasury shares cancelled
Treasury shares cancelled [Member]
COMPANY'S OPERATIONS [Line Items]
Resolution to cancel common shares	37,145,969
Average price of common shares	R$ 40.84
Treasury shares cancelled	R$ 1,517,224
Treasury shares
COMPANY'S OPERATIONS [Line Items]
Treasury shares cancelled		R$ 1,517,224
Treasury shares	R$ 9,269,281
Number of shares outstanding	1,324,117,615	34,765,600,000	51,911,569,000

COMPANY'S OPERATIONS - Interest on own Capital (Details) - Interest on own capital [Member] - BRL (R$) R$ / shares in Units, R$ in Thousands	Dec. 31, 2023	Dec. 01, 2023
COMPANY'S OPERATIONS [Line Items]
Interest on own capital distributed		R$ 1,500,000
Amount to be distributed as interest on own capital per share		R$ 1.163375077
Percentage of income tax on interest on own capital	15.00%
Amount of income tax withheld and paid	R$ 190,119

COMPANY'S OPERATIONS - Tax reform consumption (Details)	Dec. 20, 2023
COMPANY'S OPERATIONS [Line Items]
Period for Constitutional Amendments to be forwarded for evaluation by the National Congress	180 days

COMPANY'S OPERATIONS - Forestry assets acquisition (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 23, 2023
Forestry assets acquisition [Member]
COMPANY'S OPERATIONS [Line Items]
Amount of cash payment for acquisition of forestry assets	R$ 1,826,000
Timber VII SPE S.A. [Member]
COMPANY'S OPERATIONS [Line Items]
Percentage of forestry assets acquired		100.00%
Timber XX SPE S.A. [Member]
COMPANY'S OPERATIONS [Line Items]
Percentage of forestry assets acquired		100.00%

COMPANY'S OPERATIONS - Cerrado Project Approval (Details) - Cerrado Project R$ in Thousands	1 Months Ended
	Oct. 28, 2021 BRL (R$) T
COMPANY'S OPERATIONS
Estimate of the annual capacity to produce eucalyptus pulp (in tons) \| T	2,550,000
Aggregate amount of industrial capital investment \| R$	R$ 22,200,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2023
Biological assets for production
Biological assets
Age of biological assets in formation accounted for at the formation cost	2 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional information (Details)	Dec. 31, 2021
GloBE effective tax rate [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Effective minimum tax rate on profit	15.00%

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Rating (Details) - Financial risks management - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	R$ 33,652,893	R$ 32,915,878
Liabilities	93,045,196	94,025,822
Total	59,392,303	61,109,944
Amortized cost
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	90,609,124	89,179,027
Amortized cost \| Trade accounts payable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	5,572,219	6,206,570
Amortized cost \| Loans, financing and debentures
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	77,172,692	74,574,591
Amortized cost \| Lease liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	6,243,782	6,182,530
Amortized cost \| Liabilities for asset acquisitions and associates
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	187,187	2,062,322
Amortized cost \| Dividends payable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	1,316,528	5,094
Amortized cost \| Other liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	116,716	147,920
Fair value through profit or loss
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	2,436,072	4,846,795
Fair value through profit or loss \| Derivative financial instruments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	2,436,072	4,846,795
Amortized cost
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	15,931,547	20,051,470
Amortized cost \| Cash and cash equivalents
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	8,345,871	9,505,951
Amortized cost \| Trade accounts receivable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	6,848,454	9,607,012
Amortized cost \| Dividends receivable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets		7,334
Amortized cost \| Other assets
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	737,222	931,173
Fair value through other comprehensive income
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	23,606	24,917
Fair value through other comprehensive income \| Investments - Celluforce
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	23,606	24,917
Fair value through profit or loss
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	17,697,740	12,839,491
Fair value through profit or loss \| Derivative financial instruments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	4,430,454	4,873,749
Fair value through profit or loss \| Marketable securities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	R$ 13,267,286	R$ 7,965,742

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Estimated fair value of loans and financing (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Foreign \| Assets Financing
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Estimated fair values financial liabilities		R$ 138,644
Foreign \| IFC - International Finance Corporation
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	SOFR
Estimated fair values financial liabilities	R$ 3,198,761
Loans, financing and debentures
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Estimated fair values financial liabilities	R$ 75,703,064	70,943,615
Loans, financing and debentures \| Foreign \| Bonds
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	Secondary Market
Estimated fair values financial liabilities	R$ 38,703,379	40,309,832
Loans, financing and debentures \| Foreign \| Export credits ("export prepayment")
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	SOFR
Estimated fair values financial liabilities	R$ 17,783,760	17,724,315
Loans, financing and debentures \| Foreign \| Assets Financing
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	SOFR
Estimated fair values financial liabilities	R$ 278,107
Loans, financing and debentures \| Foreign \| BNDES \| Currency basket
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities		10,866
Loans, financing and debentures \| Domestic (Brazil) \| Export credits ("export prepayment")
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities	R$ 824,035	1,320,415
Loans, financing and debentures \| Domestic (Brazil) \| Assets Financing \| Currency basket
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Estimated fair values financial liabilities	R$ 75,622
Loans, financing and debentures \| Domestic (Brazil) \| BNDES \| Currency basket
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Loans, financing and debentures \| Domestic (Brazil) \| BNDES \| TJLP
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities	R$ 215,458	292,487
Loans, financing and debentures \| Domestic (Brazil) \| BNDES \| TLP
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities	R$ 2,712,762	1,393,010
Loans, financing and debentures \| Domestic (Brazil) \| BNDES \| Fixed
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities	R$ 3,903	21,656
Loans, financing and debentures \| Domestic (Brazil) \| BNDES \| SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities	R$ 686,798	575,129
Loans, financing and debentures \| Domestic (Brazil) \| CRA contract
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1/IPCA
Estimated fair values financial liabilities		1,835,336
Loans, financing and debentures \| Domestic (Brazil) \| Debentures
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities	R$ 8,881,277	5,643,440
Loans, financing and debentures \| Domestic (Brazil) \| NCE ("Export Credit Notes")
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities	R$ 110,396	1,384,396
Loans, financing and debentures \| Domestic (Brazil) \| NCR ("Rural Credit Notes")
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield used to discount/methodology	DI 1
Estimated fair values financial liabilities	R$ 2,228,806	R$ 294,089

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Contractual maturities of financial liabilities (Details) - Liquidity risk - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	R$ 126,570,983	R$ 131,473,547
Liabilities	93,045,196	94,025,822
Trade accounts payable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	5,572,219	6,206,570
Liabilities	5,572,219	6,206,570
Loans, financing and debentures
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	105,526,852	105,341,912
Liabilities	77,172,692	74,574,591
Leases
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	11,021,519	11,053,487
Liabilities	6,243,782	6,182,530
Liabilities for asset acquisitions and associates
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	215,891	2,203,302
Liabilities	187,187	2,062,322
Liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	2,801,258	6,515,262
Liabilities	2,436,072	4,846,795
Dividends payable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	1,316,528	5,094
Liabilities	1,316,528	5,094
Other liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	116,716	147,920
Liabilities	116,716	147,920
Up to 1 year
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	15,929,888	16,862,088
Up to 1 year \| Trade accounts payable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	5,572,219	6,206,570
Up to 1 year \| Loans, financing and debentures
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	7,648,237	6,823,274
Up to 1 year \| Leases
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	1,172,568	1,050,947
Up to 1 year \| Liabilities for asset acquisitions and associates
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	94,948	1,986,633
Up to 1 year \| Liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	66,433	728,070
Up to 1 year \| Dividends payable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	1,316,528	5,094
Up to 1 year \| Other liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	58,955	61,500
1 - 2 years
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	15,384,365	10,419,010
1 - 2 years \| Loans, financing and debentures
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	12,983,542	7,899,772
1 - 2 years \| Leases
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	1,045,795	992,379
1 - 2 years \| Liabilities for asset acquisitions and associates
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	18,314	99,331
1 - 2 years \| Liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	1,278,953	1,341,108
1 - 2 years \| Other liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	57,761	86,420
2 - 5 years
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	35,377,689	46,502,773
2 - 5 years \| Loans, financing and debentures
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	31,355,362	39,476,527
2 - 5 years \| Leases
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	2,743,793	2,668,855
2 - 5 years \| Liabilities for asset acquisitions and associates
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	87,520	57,421
2 - 5 years \| Liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	1,191,014	4,299,970
More than 5 years
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	59,879,041	57,689,676
More than 5 years \| Loans, financing and debentures
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	53,539,711	51,142,339
More than 5 years \| Leases
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	6,059,363	6,341,306
More than 5 years \| Liabilities for asset acquisitions and associates
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	15,109	59,917
More than 5 years \| Liabilities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities, Future Value	R$ 264,858	R$ 146,114

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Risk classification of trade accounts receivable (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Expected credit losses	R$ 95,053	R$ 105,989	R$ 91,258
Trade accounts receivable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Expected credit losses	31,962	21,109	R$ 34,763
Credit risk [member] \| Trade accounts receivable
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	6,880,416	9,628,121
Expected credit losses	31,962	21,109
Credit risk [member] \| Trade accounts receivable \| Low \| Current and overdue to up 30 days
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	6,549,975	9,430,244
Credit risk [member] \| Trade accounts receivable \| Average \| Later than one month and not later than three months [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	156,883	129,900
Credit risk [member] \| Trade accounts receivable \| High \| Overdue more than 90 days
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	R$ 173,558	R$ 67,977

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Book value of financial assets representing exposure to credit risk (Details) - Credit risk [member] - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	R$ 25,813,139	R$ 22,305,023
Cash and cash equivalents
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	8,345,871	9,505,951
Marketable securities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	13,267,286	7,965,742
Derivative financial instruments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	R$ 4,199,982	R$ 4,833,330

- Definition

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

+ References + Details

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Risk Rating (Details) - Credit risk [member] - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents and marketable securities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	R$ 21,613,157	R$ 17,471,693
Cash and cash equivalents and marketable securities \| brAAA
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	20,856,072	17,117,171
Cash and cash equivalents and marketable securities \| brAA+
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	511,589	1,173
Cash and cash equivalents and marketable securities \| brAA
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	6,565	133,030
Cash and cash equivalents and marketable securities \| brAA-
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	2,169	47
Cash and cash equivalents and marketable securities \| brA+
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure		352
Cash and cash equivalents and marketable securities \| brA
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure		17,595
Cash and cash equivalents and marketable securities \| brBBB-
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	3
Cash and cash equivalents and marketable securities \| brBB
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	1,132
Cash and cash equivalents and marketable securities \| brBB-
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	385	2,897
Cash and cash equivalents and marketable securities \| Others
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	235,242	199,428
Derivative financial instruments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	4,199,982	4,833,330
Derivative financial instruments \| AAA
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	878,241
Derivative financial instruments \| AA-
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	1,007,537	47,681
Derivative financial instruments \| A+
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	136,864	1,149,694
Derivative financial instruments \| A
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	55,547	1,485,424
Derivative financial instruments \| A-
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure		1,095
Derivative financial instruments \| brAAA
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	1,682,513	1,418,968
Derivative financial instruments \| brAA+
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure	R$ 439,280
Derivative financial instruments \| brAA
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Credit risk exposure		R$ 730,468

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Exchange rate risk management (Details) R$ in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2021 USD ($)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 BRL (R$)	Jul. 27, 2022 BRL (R$)
Cerrado Project Investments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Value at risk time horizon	36 years
Maximum investment	$ 1,000,000			R$ 1,500,000
Currency risk [member] \| Selling transactions in the futures markets
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Value at risk time horizon		24 years
Currency risk [member] \| US Dollars
Assets and liabilities exposed to foreign currency
Assets		R$ 21,931,037	R$ 23,556,423
Liabilities		(64,925,164)	(69,998,528)
Net liability exposure		(42,994,127)	(46,442,105)
Currency risk [member] \| US Dollars \| Trade accounts payable
Assets and liabilities exposed to foreign currency
Liabilities		(1,625,011)	(2,030,806)
Currency risk [member] \| US Dollars \| Loans and financing
Assets and liabilities exposed to foreign currency
Liabilities		(61,304,673)	(61,216,140)
Currency risk [member] \| US Dollars \| Liabilities for asset acquisitions and associates
Assets and liabilities exposed to foreign currency
Liabilities		(127,598)	(2,053,259)
Currency risk [member] \| US Dollars \| Derivative financial instruments
Assets and liabilities exposed to foreign currency
Liabilities		(1,867,882)	(4,698,323)
Currency risk [member] \| US Dollars \| Cash and cash equivalents
Assets and liabilities exposed to foreign currency
Assets		6,432,557	8,039,218
Currency risk [member] \| US Dollars \| Marketable securities
Assets and liabilities exposed to foreign currency
Assets		7,378,277	4,510,652
Currency risk [member] \| US Dollars \| Trade accounts receivable
Assets and liabilities exposed to foreign currency
Assets		5,049,609	7,612,768
Currency risk [member] \| US Dollars \| Derivative financial instruments
Assets and liabilities exposed to foreign currency
Assets		R$ 3,070,594	R$ 3,393,785

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Sensitivity analysis - foreign exchange rate exposure (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$) shares
Cash and cash equivalents \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	R$ 6,432,557
Cash and cash equivalents \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	1,608,139
Cash and cash equivalents \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	3,216,279
Marketable securities \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	7,378,277
Marketable securities \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	1,844,569
Marketable securities \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	3,689,139
Trade accounts receivable \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	5,049,609
Trade accounts receivable \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	1,262,402
Trade accounts receivable \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	2,524,805
Trade accounts payable \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	(1,625,011)
Trade accounts payable \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	(406,253)
Trade accounts payable \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	(812,506)
Loans and financing \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	(61,304,673)
Loans and financing \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	(15,326,168)
Loans and financing \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	(30,652,337)
Liabilities for asset acquisitions and associates \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	(127,598)
Liabilities for asset acquisitions and associates \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	(31,900)
Liabilities for asset acquisitions and associates \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	R$ (63,799)
Currency risk [member] \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Closing foreign exchange rate \| shares	4.8413
Currency risk [member] \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Percentage change in foreign exchange rate	25.00%
Currency risk [member] \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Percentage change in foreign exchange rate	50.00%
Currency risk [member] \| Dollar/Real \| Option contract [member] \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	R$ 1,968,337
Currency risk [member] \| Dollar/Real \| Option contract [member] \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(3,436,589)
Currency risk [member] \| Dollar/Real \| Option contract [member] \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(7,464,284)
Currency risk [member] \| Dollar/Real \| Swap contract [member] \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(486,713)
Currency risk [member] \| Dollar/Real \| Swap contract [member] \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(1,491,613)
Currency risk [member] \| Dollar/Real \| Swap contract [member] \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(2,981,409)
Currency risk [member] \| Dollar/Real \| Forward contract [member] \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	162,776
Currency risk [member] \| Dollar/Real \| Forward contract [member] \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(596,284)
Currency risk [member] \| Dollar/Real \| Forward contract [member] \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(1,192,682)
Currency risk [member] \| Dollar/Real \| Embedded derivatives \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	230,471
Currency risk [member] \| Dollar/Real \| Embedded derivatives \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(122,510)
Currency risk [member] \| Dollar/Real \| Embedded derivatives \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(245,021)
Currency risk [member] \| Dollar/Real \| NDF parity derivatives \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	100,362
Currency risk [member] \| Dollar/Real \| NDF parity derivatives \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(22,715)
Currency risk [member] \| Dollar/Real \| NDF parity derivatives \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(47,331)
Currency risk [member] \| Dollar/Real \| Commodity Derivatives \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	19,149
Currency risk [member] \| Dollar/Real \| Commodity Derivatives \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(8,721)
Currency risk [member] \| Dollar/Real \| Commodity Derivatives \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(14,295)
Currency risk [member] \| Dollar/Euro \| NDF parity derivatives \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	100,362
Currency risk [member] \| Dollar/Euro \| NDF parity derivatives \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(337,711)
Currency risk [member] \| Dollar/Euro \| NDF parity derivatives \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative options	(675,423)
Interest rate risk [member] \| Cash and cash equivalents \| Probable (base value) \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	1,784,313
Interest rate risk [member] \| Cash and cash equivalents \| Possible 25% \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	(56,429)
Interest rate risk [member] \| Cash and cash equivalents \| Remote 50% \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	(112,858)
Interest rate risk [member] \| Marketable securities \| Probable (base value) \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	5,889,009
Interest rate risk [member] \| Marketable securities \| Possible 25% \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	(186,240)
Interest rate risk [member] \| Marketable securities \| Remote 50% \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	(372,480)
Interest rate risk [member] \| Loans and financing \| Probable (base value) \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	8,686,026
Interest rate risk [member] \| Loans and financing \| Probable (base value) \| TJLP
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	250,474
Interest rate risk [member] \| Loans and financing \| Probable (base value) \| LIBOR
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	19,670,956
Interest rate risk [member] \| Loans and financing \| Possible 25% \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	274,696
Interest rate risk [member] \| Loans and financing \| Possible 25% \| TJLP
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	4,383
Interest rate risk [member] \| Loans and financing \| Possible 25% \| LIBOR
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	265,337
Interest rate risk [member] \| Loans and financing \| Remote 50% \| CDI/SELIC
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	549,391
Interest rate risk [member] \| Loans and financing \| Remote 50% \| TJLP
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	8,767
Interest rate risk [member] \| Loans and financing \| Remote 50% \| LIBOR
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	530,673
Interest rate risk [member] \| Option contract [member] \| Probable (base value) \| CDI
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	1,968,337
Interest rate risk [member] \| Option contract [member] \| Possible 25% \| CDI
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	(387,790)
Interest rate risk [member] \| Option contract [member] \| Remote 50% \| CDI
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	(743,473)
Interest rate risk [member] \| Swap contract [member] \| Probable (base value) \| LIBOR
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	(486,713)
Interest rate risk [member] \| Swap contract [member] \| Probable (base value) \| CDI
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	(486,713)
Interest rate risk [member] \| Swap contract [member] \| Possible 25% \| LIBOR
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	127,655
Interest rate risk [member] \| Swap contract [member] \| Possible 25% \| CDI
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	(39,216)
Interest rate risk [member] \| Swap contract [member] \| Remote 50% \| LIBOR
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	269,490
Interest rate risk [member] \| Swap contract [member] \| Remote 50% \| CDI
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Derivative financial liabilities	R$ (66,609)

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Interest rate risk management (Details) - Significant interest rate benchmarks subject to interest rate benchmark reform [member] R$ in Thousands	Jul. 01, 2023 BRL (R$)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Loan and Financing Agreements Subject to Renegotiation After Termination of SOFR	R$ 15,566,016
Derivative Contracts Subject to Renegotiation Upon Extinction of SOFR	R$ 15,150,974

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Sensitivity analysis - exposure to interest rates (Details) - Interest rate risk [member]	12 Months Ended
	Dec. 31, 2023
Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Percentage increase (decrease) in interest rate	25.00%
Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Percentage increase (decrease) in interest rate	50.00%

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Price risk (Details) R$ in Thousands	Dec. 31, 2023 BRL (R$)
Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Percentage change in sensitivity analysis scenario	25.00%
Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Percentage change in sensitivity analysis scenario	50.00%
Commodity price risk [member] \| Probable (base value)
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Embedded derivative in a commitment to purchase standing wood, originating from a forest partnership agreement	R$ 230,471
Commodity price risk [member] \| Possible 25%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Embedded derivative in a commitment to purchase standing wood, originating from a forest partnership agreement	(30,667)
Commodity price risk [member] \| Remote 50%
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Embedded derivative in a commitment to purchase standing wood, originating from a forest partnership agreement	R$ (63,157)

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Yield curves (Details)	Dec. 31, 2023
1 month
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Dollar coupon	2.54%
1 month \| Brazil, Brazil Real
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	11.65%
1 month \| US Dollars
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	5.35%
6 months
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Dollar coupon	5.55%
6 months \| Brazil, Brazil Real
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	10.79%
6 months \| US Dollars
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	5.15%
1 year
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Dollar coupon	5.58%
1 year \| Brazil, Brazil Real
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	9.99%
1 year \| US Dollars
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	4.77%
2 year
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Dollar coupon	5.18%
2 year \| Brazil, Brazil Real
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	9.55%
2 year \| US Dollars
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	4.16%
3 year
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Dollar coupon	4.99%
3 year \| Brazil, Brazil Real
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	9.66%
3 year \| US Dollars
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	3.89%
5 year
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Dollar coupon	5.00%
5 year \| Brazil, Brazil Real
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	10.04%
5 year \| US Dollars
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	3.76%
10 year
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Dollar coupon	5.74%
10 year \| Brazil, Brazil Real
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	10.33%
10 year \| US Dollars
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Yield curves	4.02%

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Derivatives outstanding by type of contract (Details) R$ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 BRL (R$)
Financial Instruments and Risks
Fair value \| R$		R$ 1,994,382		R$ 26,954
Operational Hedge
Financial Instruments and Risks
Fair value \| R$		2,231,475		1,754,670
Operational Hedge \| NDF (R$ x US$)
Financial Instruments and Risks
Notional Amount	$ 505,000		$ 248,100
Fair value	162,776		(2,474)
Operational Hedge \| NDF (Euro x US$)
Financial Instruments and Risks
Notional Amount	262,088		544,702
Fair value	100,362		161,055
Operational Hedge \| Interest rate swap contract [member] \| ZCC
Financial Instruments and Risks
Notional Amount	4,500,200		6,866,800
Fair value \| R$		1,968,337		1,596,089
Operational Hedge \| Interest rate swap contract [member] \| NDF (R$ x US$)
Financial Instruments and Risks
Notional Amount	505,000		248,100
Fair value \| R$		162,776		(2,474)
Operational Hedge \| Interest rate swap contract [member] \| NDF (Euro x US$)
Financial Instruments and Risks
Notional Amount	262,088		544,702
Fair value \| R$		100,362		161,055
Debt hedges
Financial Instruments and Risks
Fair value \| R$		(486,713)		(1,768,134)
Debt hedges \| Interest rate swap contract [member] \| Swap LIBOR to Fixed (US$)
Financial Instruments and Risks
Notional Amount	2,555,626		3,200,179
Fair value \| R$		741,492		1,052,546
Debt hedges \| Interest rate swap contract [member] \| Swap IPCA to CDI (notional in Brazilian Reais)
Financial Instruments and Risks
Notional Amount	4,274,397		1,741,787
Fair value \| R$		47,645		278,945
Debt hedges \| Interest rate swap contract [member] \| Swap IPCA to Fixed (US$)
Financial Instruments and Risks
Notional Amount			121,003
Fair value \| R$				(29,910)
Debt hedges \| Interest rate swap contract [member] \| Swap CDI x Fixed (US$)
Financial Instruments and Risks
Notional Amount	1,025,000		1,863,534
Fair value \| R$		(1,081,964)		(2,566,110)
Debt hedges \| Interest rate swap contract [member] \| Pre-fixed Swap to US$ (US$)
Financial Instruments and Risks
Notional Amount	200,000		350,000
Fair value \| R$		(203,045)		(503,605)
Debt hedges \| Interest rate swap contract [member] \| Swap CDI x SOFR (US$) [Member]
Financial Instruments and Risks
Notional Amount	125,000
Fair value \| R$		25,774
Debt hedges \| Interest rate swap contract [member] \| Swap SOFR to SOFR (US$) [Member]
Financial Instruments and Risks
Notional Amount	150,961
Fair value \| R$		(16,615)
Commodity Hedge
Financial Instruments and Risks
Fair value	249,620		40,418
Commodity Hedge \| Swap US-CPI (US$)
Financial Instruments and Risks
Notional Amount	131,510		124,960
Fair value	230,471		40,418
Commodity Hedge \| Swap VLSFO/Brent
Financial Instruments and Risks
Notional Amount	142,794
Fair value	22,297
Commodity Hedge \| Interest rate swap contract [member] \| ZCC
Financial Instruments and Risks
Notional Amount	163,100
Fair value \| R$		(3,148)
Commodity Hedge \| Interest rate swap contract [member] \| Swap US-CPI (US$)
Financial Instruments and Risks
Notional Amount	131,510		$ 124,960
Fair value \| R$		230,471		R$ 40,418
Commodity Hedge \| Interest rate swap contract [member] \| Swap VLSFO/Brent
Financial Instruments and Risks
Notional Amount	$ 142,794
Fair value \| R$		R$ 22,297

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Derivatives outstanding by type of contract, classified (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [abstract]
Current assets	R$ 2,676,526	R$ 3,048,493
Non-current assets	1,753,928	1,825,256
Current liabilities	(578,763)	(667,681)
Non-current liabilities	(1,857,309)	(4,179,114)
Total, net	R$ 1,994,382	R$ 26,954

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Fair value by maturity schedule (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Instruments and Risks
Derivative fair value asset (liability), net	R$ 1,994,382	R$ 26,954
1 - 2 years
Financial Instruments and Risks
Derivative fair value asset (liability), net	2,097,763	2,380,812
2 - 3 years
Financial Instruments and Risks
Derivative fair value asset (liability), net	233,073	297,156
3 - 4 years
Financial Instruments and Risks
Derivative fair value asset (liability), net	(574,871)	(1,225,193)
More than 3 years
Financial Instruments and Risks
Derivative fair value asset (liability), net	R$ 238,417	R$ (1,425,821)

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Outstanding assets and liabilities derivatives positions (Details) R$ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 BRL (R$)
Financial Instruments and Risks
Fair value \| R$		R$ 1,994,382		R$ 26,954
Debt hedges
Financial Instruments and Risks
Fair value \| R$		(486,713)		(1,768,134)
Operational Hedge
Financial Instruments and Risks
Fair value \| R$		2,231,475		1,754,670
Operational Hedge \| Zero cost collar (U.S.$ x R$)
Financial Instruments and Risks
Principle amount	$ 4,500,200		$ 6,866,800
Fair value	1,968,337		1,596,089
Operational Hedge \| NDF (R$ x US$)
Financial Instruments and Risks
Principle amount	505,000		248,100
Fair value	162,776		(2,474)
Operational Hedge \| NDF (Euro x US$)
Financial Instruments and Risks
Principle amount	262,088		544,702
Fair value	100,362		161,055
Commodity Hedge
Financial Instruments and Risks
Fair value	249,620		40,418
Commodity Hedge \| Zero cost collar (U.S.$ x R$)
Financial Instruments and Risks
Principle amount	163,100
Fair value	(3,148)
Commodity Hedge \| Swap US-CPI (US$)
Financial Instruments and Risks
Principle amount	131,510		124,960
Fair value	230,471		40,418
Commodity Hedge \| Swap VLSFO/Brent
Financial Instruments and Risks
Principle amount	142,794
Fair value	22,297
Assets \| Debt hedges
Financial Instruments and Risks
Fair value \| R$		1,529,543		2,143,127
Assets \| Debt hedges \| Swap CDI x Fixed (US$)
Financial Instruments and Risks
Principle amount \| R$		3,898,011		7,081,545
Fair value \| R$		223,776		617,835
Assets \| Debt hedges \| Swap Pre-Fixed to US$
Financial Instruments and Risks
Principle amount \| R$		738,800		1,317,226
Fair value \| R$				45,329
Assets \| Debt hedges \| Swap SOFR to Fixed (US$) [Member]
Financial Instruments and Risks
Principle amount	2,555,626		3,200,000
Fair value	1,104,984		1,052,546
Assets \| Debt hedges \| Swap IPCA to CDI (notional in Brazilian Reais)
Financial Instruments and Risks
Principle amount \| R$		4,320,471		2,041,327
Fair value \| R$		161,542		427,417
Assets \| Debt hedges \| Swap IPCA to Fixed (US$)
Financial Instruments and Risks
Principle amount \| R$				610,960
Fair value \| R$
Assets \| Debt hedges \| Swap CDI x SOFR (US$) [Member]
Financial Instruments and Risks
Principle amount \| R$		644,850
Fair value \| R$		32,560
Assets \| Debt hedges \| Swap SOFR to SOFR (US$) [Member]
Financial Instruments and Risks
Principle amount	150,961
Fair value	6,681
Liabilities \| Debt hedges
Financial Instruments and Risks
Fair value \| R$		(2,016,256)		(3,911,261)
Liabilities \| Debt hedges \| Swap CDI x Fixed (US$)
Financial Instruments and Risks
Principle amount	1,025,000		1,863,534
Fair value	(1,305,740)		(3,183,945)
Liabilities \| Debt hedges \| Swap Pre-Fixed to US$
Financial Instruments and Risks
Principle amount	200,000		350,000
Fair value	(203,045)		(548,934)
Liabilities \| Debt hedges \| Swap SOFR to Fixed (US$) [Member]
Financial Instruments and Risks
Principle amount	2,555,626		3,200,000
Fair value	(363,492)
Liabilities \| Debt hedges \| Swap IPCA to CDI (notional in Brazilian Reais)
Financial Instruments and Risks
Principle amount \| R$		4,274,397		1,741,787
Fair value \| R$		R$ (113,897)		R$ (148,472)
Liabilities \| Debt hedges \| Swap IPCA to Fixed (US$)
Financial Instruments and Risks
Principle amount			121,003
Fair value			(29,910)
Liabilities \| Debt hedges \| Swap CDI x SOFR (US$) [Member]
Financial Instruments and Risks
Principle amount	125,000
Fair value	(6,786)
Liabilities \| Debt hedges \| Swap SOFR to SOFR (US$) [Member]
Financial Instruments and Risks
Principle amount	150,961
Fair value	$ (23,296)

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Fair value settled amounts (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financial Instruments and Risks
Settled derivatives, received (paid)	R$ 3,559,286	R$ 282,225
Operational Hedge
Financial Instruments and Risks
Settled derivatives, received (paid)	3,227,743	734,032
Operational Hedge \| Zero cost collar (R$ x U.S.$)
Financial Instruments and Risks
Settled derivatives, received (paid)	2,987,953	718,618
Operational Hedge \| NDF (R$ x US$)
Financial Instruments and Risks
Settled derivatives, received (paid)	155,458	8,301
Operational Hedge \| NDF (Euro x US$)
Financial Instruments and Risks
Settled derivatives, received (paid)	84,332	7,113
Commodity Hedge
Financial Instruments and Risks
Settled derivatives, received (paid)	80,516
Commodity Hedge \| Swap VLSFO/other
Financial Instruments and Risks
Settled derivatives, received (paid)	80,516
Debt hedges
Financial Instruments and Risks
Settled derivatives, received (paid)	251,027	(451,807)
Debt hedges \| Swap CDI x Fixed (US$)
Financial Instruments and Risks
Settled derivatives, received (paid)	(438,417)	(261,570)
Debt hedges \| Swap IPCA to CDI (Brazilian Reais)
Financial Instruments and Risks
Settled derivatives, received (paid)	256,683	(5,180)
Debt hedges \| Swap IPCA to Fixed (US$)
Financial Instruments and Risks
Settled derivatives, received (paid)	21,139	171
Debt hedges \| Swap Pre-Fixed to US$
Financial Instruments and Risks
Settled derivatives, received (paid)	(104,827)	54,128
Debt hedges \| Swap LIBOR to Fixed (US$)
Financial Instruments and Risks
Settled derivatives, received (paid)	7,729
Debt hedges \| Swap SOFR to Fixed (US$) [Member]
Financial Instruments and Risks
Settled derivatives, received (paid)	R$ 508,720	R$ (239,356)

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Fair value hierarchy (Details) - At fair value [member] - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	R$ 35,999,928	R$ 27,496,594
Liabilities	2,436,072	4,846,795
Level 2 of fair value hierarchy [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	17,697,740	12,839,491
Liabilities	2,436,072	4,846,795
Level 3 of fair value hierarchy [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	18,302,188	14,657,103
At fair value through profit or loss
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	2,436,072	4,846,795
At fair value through profit or loss \| Derivative financial instruments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	2,436,072	4,846,795
At fair value through profit or loss \| Level 2 of fair value hierarchy [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	2,436,072	4,846,795
At fair value through profit or loss \| Level 2 of fair value hierarchy [member] \| Derivative financial instruments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Liabilities	2,436,072	4,846,795
At fair value through profit or loss
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	17,697,740	12,839,491
At fair value through profit or loss \| Derivative financial instruments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	4,430,454	4,873,749
At fair value through profit or loss \| Marketable securities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	13,267,286	7,965,742
At fair value through profit or loss \| Level 2 of fair value hierarchy [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	17,697,740	12,839,491
At fair value through profit or loss \| Level 2 of fair value hierarchy [member] \| Derivative financial instruments
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	4,430,454	4,873,749
At fair value through profit or loss \| Level 2 of fair value hierarchy [member] \| Marketable securities
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	13,267,286	7,965,742
At fair value through other comprehensive income
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	23,606	24,917
At fair value through other comprehensive income \| Other investments - CelluForce
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	23,606	24,917
At fair value through other comprehensive income \| Level 3 of fair value hierarchy [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	23,606	24,917
At fair value through other comprehensive income \| Level 3 of fair value hierarchy [member] \| Other investments - CelluForce
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	23,606	24,917
Amortized cost
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	18,278,582	14,632,186
Amortized cost \| Biological assets [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	18,278,582	14,632,186
Amortized cost \| Level 3 of fair value hierarchy [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	18,278,582	14,632,186
Amortized cost \| Level 3 of fair value hierarchy [member] \| Biological assets [member]
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Assets	R$ 18,278,582	R$ 14,632,186

CASH AND CASH EQUIVALENTS (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents
Cash and banks	R$ 6,561,558	R$ 8,064,193
Cash equivalents
Cash and cash equivalents	R$ 8,345,871	9,505,951	R$ 13,590,776	R$ 6,835,057
Fixed \| Cash and banks
Cash equivalents
Average yield p.a. %	5.50%
Domestic (Brazil)
Cash equivalents
Fixed-term deposits	R$ 1,784,313	R$ 1,441,758
Domestic (Brazil) \| CDI \| Fixed-term deposits
Cash equivalents
Percentage of basis used to calculate interest rate	102.78%

MARKETABLE SECURITIES (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
MARKETABLE SECURITIES
Marketable securities	R$ 13,267,286	R$ 7,965,742
Current	12,823,886	7,546,639
Non-Current	443,400	419,103
Domestic (Brazil)
MARKETABLE SECURITIES
Marketable securities	5,889,009	3,455,090
Foreign
MARKETABLE SECURITIES
Marketable securities	7,378,277	4,510,652
Private Funds \| Domestic (Brazil)
MARKETABLE SECURITIES
Marketable securities	R$ 1,295,296	1,208,975
Private Funds \| CDI
MARKETABLE SECURITIES
Percentage of basis used to calculate interest rate	109.87%
Private Securities (CDBs) \| Domestic (Brazil)
MARKETABLE SECURITIES
Marketable securities	R$ 4,150,313	1,827,012
Private Securities (CDBs) \| CDI
MARKETABLE SECURITIES
Percentage of basis used to calculate interest rate	102.81%
CDBs - Escrow Account \| Domestic (Brazil)
MARKETABLE SECURITIES
Marketable securities	R$ 443,400	419,103
CDBs - Escrow Account \| CDI
MARKETABLE SECURITIES
Percentage of basis used to calculate interest rate	104.65%
Time Deposits \| Foreign
MARKETABLE SECURITIES
Marketable securities	R$ 7,333,308	4,386,589
Average yield p.a. %	6.71%
Other \| Foreign
MARKETABLE SECURITIES
Marketable securities	R$ 44,969	R$ 124,063
Average yield p.a. %

TRADE ACCOUNTS RECEIVABLE - Breakdown of balances (Details) - Trade accounts receivable - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
TRADE ACCOUNTS RECEIVABLE
Financial assets	R$ 6,848,454	R$ 9,607,012
Factoring of receivables
TRADE ACCOUNTS RECEIVABLE
Financial assets	4,273,623	6,889,492
Cost \| Domestic (Brazil) \| Third party
TRADE ACCOUNTS RECEIVABLE
Financial assets	1,785,157	1,915,745
Cost \| Domestic (Brazil) \| Related parties
TRADE ACCOUNTS RECEIVABLE
Financial assets	45,650	99,608
Cost \| Foreign \| Third party
TRADE ACCOUNTS RECEIVABLE
Financial assets	5,049,609	7,612,768
Expected credit losses
TRADE ACCOUNTS RECEIVABLE
Financial assets	R$ (31,962)	R$ (21,109)

TRADE ACCOUNTS RECEIVABLE - Breakdown of trade accounts receivable by maturity (Details) - Trade accounts receivable - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
TRADE ACCOUNTS RECEIVABLE
Financial assets	R$ 6,848,454	R$ 9,607,012
Neither past due nor impaired [member] \| Current
TRADE ACCOUNTS RECEIVABLE
Financial assets	5,904,402	8,652,376
Past due but not impaired \| Up to 30 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	644,644	777,150
Past due but not impaired \| From 31 to 60 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	57,395	74,253
Past due but not impaired \| From 61 to 90 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	97,639	54,784
Past due but not impaired \| From 91 to 120 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	40,533	20,975
Past due but not impaired \| From 121 to 180 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	34,708	18,945
Past due but not impaired \| From 181 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	R$ 69,133	R$ 8,529

TRADE ACCOUNTS RECEIVABLE - Rollforward of the expected credit losses (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Rollforward of the expected credit losses
Opening balance	R$ (105,989)	R$ (91,258)
Additions	(65,085)	(89,552)
Reversals	33,666	33,492
Write-offs	42,355	41,329
Closing balance	(95,053)	(105,989)
Trade accounts receivable
Rollforward of the expected credit losses
Opening balance	(21,109)	(34,763)
Additions	(38,775)	(5,228)
Reversals	3,573	3,576
Write-offs	24,230	12,355
Exchange rate variation	119	2,951
Closing balance	R$ (31,962)	R$ (21,109)

TRADE ACCOUNTS RECEIVABLE - Main customers (Details) - Net Sales	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pulp
TRADE ACCOUNTS RECEIVABLE
Concentration risk percentage	10.27%	10.67%
Paper
TRADE ACCOUNTS RECEIVABLE
Concentration risk percentage	10.00%	10.00%

INVENTORIES - Balances (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory [Table]
Finished goods
Work in process	93,325	93,964
Spare parts and other	931,052	897,531
Expected credit losses	(95,053)	(105,989)
Inventories	5,946,948	5,728,261
Inventory [Line Items]
Expected credit losses	(95,053)	(105,989)
Pulp \| Domestic (Brazil)
Inventory [Table]
Finished goods	576,774	616,557
Pulp \| Foreign
Inventory [Table]
Finished goods	1,271,335	1,440,207
Paper \| Domestic (Brazil)
Inventory [Table]
Finished goods	569,771	359,322
Paper \| Foreign
Inventory [Table]
Finished goods	137,653	201,868
Wood
Inventory [Table]
Work in process	1,666,817	1,492,661
Operating supplies and packaging
Inventory [Table]
Work in process	R$ 795,274	R$ 732,140

INVENTORIES - Roll-forward of estimated losses (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Roll-forward of estimated losses
Opening balance	R$ (105,989)	R$ (91,258)
Additions	(65,085)	(89,552)
Reversals	33,666	33,492
Write-offs	42,355	41,329
Closing balance	R$ (95,053)	R$ (105,989)

RECOVERABLE TAXES - Summary (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
RECOVERABLE TAXES
IRPJ/CSLL - prepayments and withheld taxes	R$ 464,188	R$ 179,812
PIS and COFINS - on acquisitions of property, plant and equipment	93,866	89,334
PIS and COFINS - operations	699,717	523,970
PIS/COFINS - exclusion from ICMS	443,210	570,945
ICMS - on acquisitions of property, plant and equipment	432,793	167,286
ICMS - operations	1,470,949	1,423,375
Reintegra program	64,077	65,971
Other taxes and contributions	45,821	39,057
Provision for loss of ICMS credits	(1,452,435)	(1,103,807)	R$ (1,064,268)
Tax Assets	2,262,186	1,955,943
Current assets	888,539	549,580
Non-current assets	R$ 1,373,647	R$ 1,406,363

RECOVERABLE TAXES - Roll-forward of provision for loss (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
ICMS
Opening balance	R$ (1,103,807)	R$ (1,064,268)
Addition	399,838	221,903
Write-off	51,210	163,900
Reversal		18,464
Closing balance	R$ (1,452,435)	R$ (1,103,807)

ADVANCES TO SUPPLIERS (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Advances to suppliers
Advances to suppliers	R$ 2,355,972	R$ 1,700,278
Advances to suppliers	113,743	108,146
Non current	2,242,229	1,592,132
Forestry development program and partnerships
Advances to suppliers
Advances to suppliers	2,242,229	1,592,132
Advance to suppliers - others
Advances to suppliers
Advances to suppliers	R$ 113,743	R$ 108,146

RELATED PARTIES - Balances recognized in assets and liabilities and amounts transacted during the period (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Parties
Assets	R$ 50,321	R$ 106,973
Liabilities	620,602	3,776
Operating result	166,029	213,563	R$ 162,258
Dividends payable	1,316,528	5,094
Controlling Shareholders
Related Parties
Dividends payable	619,579
Non-Controlling Shareholders [Member]
Related Parties
Dividends payable	696,949
Trade accounts receivable
Related Parties
Assets	45,650	99,608
Dividends receivable
Related Parties
Assets		7,334
Other assets [member]
Related Parties
Assets	4,671	31
Trade accounts payable
Related Parties
Liabilities	1,023	3,776
Dividends payable
Related Parties
Liabilities	619,579
Transactions with controlling shareholders
Related Parties
Assets	24	5
Liabilities	619,579
Operating result	9	91	(2,621)
Management and related persons
Related Parties
Liabilities	31,748
Alden Fundo de Investimento em Acoes
Related Parties
Liabilities	30,428
Controller
Related Parties
Liabilities	193,883
Transactions with companies of the Suzano Group and other related parties
Related Parties
Assets	50,297	106,968
Liabilities	1,023	3,776
Operating result	166,020	213,472	164,879
Management
Related Parties
Assets	61
Liabilities		5
Operating result	(906)	(47)	(422)
Bexma Participacoes Ltda.
Related Parties
Assets		1
Operating result	9	38	24
Bizma Investimentos Ltda.
Related Parties
Assets		1
Operating result	7	10	6
Civelec Participações Ltda [Member]
Related Parties
Assets	4,575
Operating result	4,825
Fundacao Arymax
Related Parties
Operating result	3	4	2
Ibema Companhia Brasileira de Papel
Related Parties
Assets	45,659	106,940
Liabilities	1,023	3,705
Operating result	168,621	218,226	169,965
Instituto Ecofuturo - Futuro Para o Desenvolvimento Sustentavel
Related Parties
Assets	2	3
Liabilities		66
Operating result	(5,549)	(4,603)	(4,399)
IPFL Holding S.A
Related Parties
Assets		23
Operating result	5	38	10
Mabex Representacoes e Participacoes Ltda.
Related Parties
Operating result	(817)		(137)
Nemonorte Imoveis e Participacoes Ltda.
Related Parties
Operating result	(178)	(194)	(170)
Suzano Holding
Related Parties
Assets	24	5
Liabilities	363,520
Operating result	R$ 9	R$ 91	R$ (2,621)

RELATED PARTIES - Management compensation (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Short-term benefits
Salary or compensation	R$ 49,165	R$ 50,228	R$ 48,693
Direct and indirect benefits	2,286	1,099	880
Bonus	10,829	7,031	6,474
Total short term benefits	62,280	58,358	56,047
Long-term benefits
Share-based compensation plan	42,130	36,390	46,306
Total long term benefits	42,130	36,390	46,306
Total management compensation	R$ 104,410	R$ 94,748	R$ 102,353

INCOME AND SOCIAL CONTRIBUTION TAXES - Summary (Details)	12 Months Ended
	Dec. 31, 2023
Major components of tax expense (income) [abstract]
Base rate for income tax and social contribution taxes	15.00%
Additional income tax rate on taxable income in excess of threshold amount	10.00%
Additional social contribution tax rate on taxable income in excess of threshold amount	9.00%

INCOME AND SOCIAL CONTRIBUTION TAXES - Deferred income and social contribution taxes (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred income and social contribution taxes
Assets temporary differences	R$ 6,752,162	R$ 8,625,505
Liabilities temporary differences	6,218,326	4,640,208
Non-current assets	545,213	3,986,415
Non-current liabilities	11,377	1,118
Tax loss
Deferred income and social contribution taxes
Assets temporary differences	1,209,968	1,207,096
Negative tax basis of social contribution
Deferred income and social contribution taxes
Assets temporary differences	457,030	445,250
Provision for judicial liabilities
Deferred income and social contribution taxes
Assets temporary differences	324,158	268,596
Operating provisions and other losses
Deferred income and social contribution taxes
Assets temporary differences	1,214,807	999,028
Exchange rate variations
Deferred income and social contribution taxes
Assets temporary differences	2,384,153	4,297,503
Amortization of fair value adjustments arising from business combinations
Deferred income and social contribution taxes
Assets temporary differences	654,358	680,142
Unrealized profit on inventories
Deferred income and social contribution taxes
Assets temporary differences	151,578	363,052
Leases
Deferred income and social contribution taxes
Assets temporary differences	356,110	364,838
Goodwill - Tax benefit on unamortized goodwill
Deferred income and social contribution taxes
Liabilities temporary differences	1,301,654	1,023,103
Property, plant and equipment - deemed cost
Deferred income and social contribution taxes
Liabilities temporary differences	1,137,483	1,217,349
Accelerated tax depreciation
Deferred income and social contribution taxes
Liabilities temporary differences	799,857	869,997
Borrowing cost
Deferred income and social contribution taxes
Liabilities temporary differences	640,063	210,834
Fair value of biological assets
Deferred income and social contribution taxes
Liabilities temporary differences	1,115,432	703,274
Deferred taxes, net of fair value adjustment
Deferred income and social contribution taxes
Liabilities temporary differences	370,947	398,950
Tax credits - gains from tax lawsuit (exclusion of ICMS from the PIS and COFINS basis)
Deferred income and social contribution taxes
Liabilities temporary differences	150,691	194,121
Derivatives gains ("MtM")
Deferred income and social contribution taxes
Liabilities temporary differences	678,090	9,164
Other temporary differences
Deferred income and social contribution taxes
Liabilities temporary differences	R$ 24,109	R$ 13,416

INCOME AND SOCIAL CONTRIBUTION TAXES - Carryforwards (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Major components of tax expense (income) [abstract]
Tax loss carryforward	R$ 4,839,872	R$ 4,828,384
Negative tax basis of social contribution carryforward	R$ 5,078,111	R$ 4,947,222

INCOME AND SOCIAL CONTRIBUTION TAXES - Rollforward of deferred tax assets (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Rollforward of net balance of deferred income tax
Opening balance	R$ 3,985,297	R$ 8,729,929
Tax loss	2,872	50,220
Negative tax basis of social contribution	11,780	34,176
(Reversal of) provision for judicial liabilities	55,562	19,251
Reversal of operating provisions and other losses	215,779	33,898
Exchange rate variation	(1,913,350)	(2,257,699)
Derivative gains ("MtM")	(668,926)	(2,202,857)
Amortization of fair value adjustment on business combinations	2,219	8,970
Unrealized profit on inventories	(211,474)	64,164
Leases	(8,728)	(8,534)
Goodwill - tax benefit on unamortized goodwill	(278,551)	(276,614)
Property, plant and equipment - deemed cost	79,866	99,510
Accelerated tax depreciation	70,140	74,952
Borrowing cost	(429,229)	(111,435)
Fair value of biological assets	(412,158)	(272,308)
Credits on exclusion of ICMS from the PIS/COFINS tax base	43,430	3,906
Other temporary differences	(10,693)	(4,232)
Closing balance	R$ 533,836	R$ 3,985,297

INCOME AND SOCIAL CONTRIBUTION TAXES - Reconciliation of effects of income tax and social contribution on profit or loss (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of the effects of income tax and social contribution on profit or loss
Net income (loss) before taxes	R$ 17,997,216	R$ 28,655,581	R$ 8,832,957
Income tax and social contribution benefit (expense) at statutory nominal rate of 34%	(6,119,053)	(9,742,898)	(3,003,205)
Tax effect on permanent differences
Taxation (difference) on profits of associates in Brazil and abroad	1,688,656	4,915,243	3,445,206
Equity method	(6,589)	96,685	44,309
Thin capitalization	(46,796)	(505,553)	(603,612)
Payment of Interest on own capital	510,000
Credit related to Reintegra Program	7,176	7,829	7,398
Director bonuses	(4,907)	(12,208)	(15,656)
Tax incentives	128,650	51,839	16,443
Donations / Fines - other	(47,972)	(71,631)	(88,308)
Income and social contribution benefits (expenses) for the year	(3,890,835)	(5,260,694)	(197,425)
Income tax
Current	(352,577)	(464,312)	(276,431)
Deferred	(2,561,991)	(3,485,267)	69,669
Total income Tax	(2,914,568)	(3,949,579)	(206,762)
Social Contribution
Current	(42,815)	(46,584)	(15,684)
Deferred	(933,452)	(1,264,531)	25,021
Total Social Contribution	(976,267)	(1,311,115)	9,337
Income and social contribution benefits (expenses) for the year	R$ (3,890,835)	R$ (5,260,694)	R$ (197,425)
Effective rate of income and social contribution tax expenses	21.62%	18.36%	2.24%

BIOLOGICAL ASSETS - Roll-forward of biological assets (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Roll-forward of biological assets
Opening balance	R$ 14,632,186	R$ 12,248,732
Additions	5,777,952	4,957,380
Depletions	(3,680,997)	(3,665,057)
Transfers	(136,297)
Gain on fair value adjustment	1,989,831	1,199,759	R$ 763,091
Disposals	(128,370)	(82,331)
Other write-offs	(175,723)	(26,297)
Closing balance	R$ 18,278,582	R$ 14,632,186	R$ 12,248,732
Effective area of forest from the year of planting	3 years
Bottom of range [member]
Roll-forward of biological assets
Average cycle of forest formation	6 years
Top of range [member]
Roll-forward of biological assets
Average cycle of forest formation	7 years

BIOLOGICAL ASSETS - Measurement of the premises adopted (Details) - ha	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
BIOLOGICAL ASSETS
Planted useful area (hectare)	1,094,611	1,097,081.000
Average annual growth (IMA) - m3/hectare /year	37.92	37.07
Average gross sale price of eucalyptus - R$/m3	96.04	90.16
Discount rate (after taxes) used in cash flow is measured based on the capital structure and other economic assumptions.	8.80%	9.10%
Mature assets
BIOLOGICAL ASSETS
Planted useful area (hectare)	144,942	134,752
Immature assets
BIOLOGICAL ASSETS
Planted useful area (hectare)	949,669	962,329

BIOLOGICAL ASSETS - Fair value adjustment (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair value adjustment of biological assets recognized under other operating income (expense), net
Physical changes	R$ 1,575,017	R$ (37,088)
Price	414,814	1,236,847
Fair value adjustment of biological assets	R$ 1,989,831	R$ 1,199,759	R$ 763,091

INVESTMENTS - Investments breakdown (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract]
Investments in associates and joint ventures	R$ 355,520	R$ 354,200
Goodwill	228,887	233,399
Other investments evaluated at fair value through other comprehensive income - Celluforce	23,606	24,917
Total investments	R$ 608,013	R$ 612,516

INVESTMENTS - Investments in associates and joint ventures (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$)	Dec. 31, 2023 BRL (R$) € / shares	Dec. 31, 2022 BRL (R$)	Dec. 31, 2022 BRL (R$) € / shares	Dec. 31, 2021 BRL (R$)	Dec. 31, 2020 BRL (R$)
INVESTMENTS
Equity	R$ 44,810,300	R$ 44,810,300	R$ 33,166,365	R$ 33,166,365	R$ 15,175,130	R$ 7,337,378
Income (expenses) of the year	14,106,381		23,394,887		R$ 8,635,532
Company participation, in equity	379,126	379,126	379,117	379,117
Company participation, in the income (expense) of the year	(19,379)		284,368
Associates
INVESTMENTS
Company participation, in equity	96,123	96,123	114,329	114,329
Company participation, in the income (expense) of the year	R$ (32,557)		1,835
Ensyn Corporation
INVESTMENTS
Participation equity (%), Associate	25.53%
Company participation, in equity	R$ 387	387	1,250	1,250
Company participation, in the income (expense) of the year	R$ (12,448)		(1,036)
Spinnova Plc
INVESTMENTS
Participation equity (%), Associate	18.78%
Company participation, in equity	R$ 95,736	95,736	113,079	113,079
Company participation, in the income (expense) of the year	(20,109)		2,871
Joint ventures [member]
INVESTMENTS
Company participation, in equity	259,397	259,397	239,871	239,871
Company participation, in the income (expense) of the year	R$ 13,178		46,671
Biomas [Member] \| Domestic (Brazil)
INVESTMENTS
Participation equity (%), Joint venture	16.66%
Company participation, in equity	R$ 2,797	2,797
Company participation, in the income (expense) of the year	R$ (2,203)
Ibema Companhia Brasileira de Papel \| Domestic (Brazil)
INVESTMENTS
Participation equity (%), Joint venture	49.90%
Company participation, in equity	R$ 156,703	156,703	158,996	158,996
Company participation, in the income (expense) of the year	R$ 35,161		48,891
F&E Technologies LLC \| Foreign
INVESTMENTS
Participation equity (%), Joint venture	50.00%
Company participation, in equity	R$ 4,987	4,987	5,230	5,230
Woodspin Oy \| Foreign
INVESTMENTS
Company participation, in equity	94,910	94,910	75,645	75,645
Company participation, in the income (expense) of the year	(19,780)		(2,220)
Other movements
INVESTMENTS
Company participation, in equity	23,606	23,606	24,917	R$ 24,917
Company participation, in the income (expense) of the year			R$ 235,862
Ensyn Corporation
INVESTMENTS
Equity	1,515	1,515
Income (expenses) of the year	(29,648)
Spinnova Plc
INVESTMENTS
Equity	509,777	R$ 509,777
Income (expenses) of the year	(56,567)
Average share price quoted on the NFNGM \| € / shares		R$ 2.40		R$ 5.44
Biomas [Member] \| Domestic (Brazil)
INVESTMENTS
Equity	16,782	R$ 16,782
Income (expenses) of the year	(13,218)
Ibema Companhia Brasileira de Papel \| Domestic (Brazil)
INVESTMENTS
Equity	314,033	314,033
Income (expenses) of the year	103,399
F&E Technologies LLC \| Foreign
INVESTMENTS
Equity	9,973	9,973
Woodspin Oy \| Foreign
INVESTMENTS
Equity	189,821	R$ 189,821
Income (expenses) of the year	R$ (39,560)
Woodspin Oy \| Woodspin Oy \| Foreign
INVESTMENTS
Participation equity (%), Joint venture	50.00%

PROPERTY, PLANT AND EQUIPMENT - Summary (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment
Beginning balance	R$ 50,656,634	R$ 38,169,703
Additions	11,281,141	11,623,984
Additions of merged companies	589,165	3,829,344
Write-offs	(251,392)	(142,205)
Depreciation, property, plant and equipment	(3,029,130)	(2,802,056)
Transfer and other	42,651	(22,136)
Ending balance	59,289,069	50,656,634
Cerrado Project
Property, Plant and Equipment
Additions	393,042	1,832,746
Land [member]
Property, Plant and Equipment
Beginning balance	14,486,408	9,791,102
Additions	54,027	5,089
Additions of merged companies	4,572	3,829,344
Write-offs	(25,090)	(69,773)
Transfer and other	339,272	930,646
Ending balance	R$ 14,859,189	14,486,408
Buildings [member]
Property, Plant and Equipment
Average rate %	3.57%
Property, Plant and Equipment
Beginning balance	R$ 5,764,977	5,838,721
Additions	15	516
Additions of merged companies	111,495
Write-offs	(36,184)	(10,613)
Depreciation, property, plant and equipment	(313,304)	(310,429)
Transfer and other	379,495	246,782
Ending balance	R$ 5,906,494	5,764,977
Machinery and equipment and facilities
Property, Plant and Equipment
Average rate %	6.36%
Property, Plant and Equipment
Beginning balance	R$ 19,618,653	20,604,796
Additions	467,032	381,741
Additions of merged companies	453,617
Write-offs	(133,249)	(58,435)
Depreciation, property, plant and equipment	(2,570,734)	(2,367,163)
Transfer and other	2,702,633	1,057,714
Ending balance	20,537,952	19,618,653
Construction in progress [member]
Property, Plant and Equipment
Beginning balance	10,373,151	1,603,915
Additions	10,742,118	11,220,806
Additions of merged companies	8,306
Write-offs
Transfer and other	(3,638,466)	(2,451,570)
Ending balance	R$ 17,485,109	10,373,151
Other
Property, Plant and Equipment
Average rate %	17.75%
Property, Plant and Equipment
Beginning balance	R$ 413,445	331,169
Additions	17,949	15,832
Additions of merged companies	11,175
Write-offs	(56,869)	(3,384)
Depreciation, property, plant and equipment	(145,092)	(124,464)
Transfer and other	259,717	194,292
Ending balance	500,325	413,445
Cost
Property, Plant and Equipment
Beginning balance	80,946,127	65,865,068
Ending balance	92,324,815	80,946,127
Cost \| Land [member]
Property, Plant and Equipment
Beginning balance	14,486,408	9,791,102
Ending balance	14,859,189	14,486,408
Cost \| Buildings [member]
Property, Plant and Equipment
Beginning balance	9,644,875	9,415,818
Ending balance	10,032,317	9,644,875
Cost \| Machinery and equipment and facilities
Property, Plant and Equipment
Beginning balance	45,160,365	43,949,632
Ending balance	48,456,537	45,160,365
Cost \| Construction in progress [member]
Property, Plant and Equipment
Beginning balance	10,373,151	1,603,915
Ending balance	17,485,109	10,373,151
Cost \| Other
Property, Plant and Equipment
Beginning balance	1,281,328	1,104,601
Ending balance	1,491,663	1,281,328
Depreciation
Property, Plant and Equipment
Beginning balance	(30,289,493)	(27,695,365)
Ending balance	(33,035,746)	(30,289,493)
Depreciation \| Land [member]
Property, Plant and Equipment
Beginning balance
Depreciation \| Buildings [member]
Property, Plant and Equipment
Beginning balance	(3,879,898)	(3,577,097)
Ending balance	(4,125,823)	(3,879,898)
Depreciation \| Machinery and equipment and facilities
Property, Plant and Equipment
Beginning balance	(25,541,712)	(23,344,836)
Ending balance	(27,918,585)	(25,541,712)
Depreciation \| Construction in progress [member]
Property, Plant and Equipment
Beginning balance
Depreciation \| Other
Property, Plant and Equipment
Beginning balance	(867,883)	(773,432)
Ending balance	R$ (991,338)	R$ (867,883)

PROPERTY, PLANT AND EQUIPMENT - Other disclosures (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment pledged as collateral	R$ 16,332,447	R$ 12,773,662
Property, plant and equipment, interest costs capitalized	R$ 1,160,364	R$ 359,407
Average monthly rate of interest capitalization	10.98%	12.49%

INTANGIBLE - Goodwill and intangible assets with indefinite useful life (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
INTANGIBLE
Goodwill and intangible assets with indefinite useful life	R$ 8,192,076	R$ 8,019,788
Facepa
INTANGIBLE
Goodwill and intangible assets with indefinite useful life	119,332	119,332
Fibria
INTANGIBLE
Goodwill and intangible assets with indefinite useful life	7,897,051	7,897,051
MMC Brasil [Member]
INTANGIBLE
Goodwill and intangible assets with indefinite useful life	170,859
Other
INTANGIBLE
Goodwill and intangible assets with indefinite useful life	R$ 4,834	R$ 3,405

INTANGIBLE - Valuation assumptions (Details)	12 Months Ended
INTANGIBLE - Valuation assumptions (Details)	Dec. 31, 2023 shares R$ / shares
INTANGIBLE
Nominal rate (percentage)	3.50%
Discount rate, based on WACC (as a percent)	8.90%
Average exchange rate \| shares	5.15
Discount rate (post-tax)	8.90%
Discount rate (pre-tax)	12.25%
After-tax discount rate applied to cash flow projections of both cash-generating units is higher than management's estimates	1.00%
Top of range [member]
INTANGIBLE
Discount rate (post-tax)	9.90%
Bottom of range [member]
INTANGIBLE
Discount rate (post-tax)	8.90%
Foreign
INTANGIBLE
Net average pulp price	662.1
Domestic (Brazil)
INTANGIBLE
Net average pulp price	648.7

INTANGIBLE - Changes in intangible assets with determined useful life (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Intangible assets with determined useful life
Beginning balance	R$ 7,173,183	R$ 8,014,740
Additions	104,931	90,499
Fair value adjustment MMC Brasil	189,655
Write-offs	(2)	(51)
Amortization	(990,432)	(966,796)
Transfers and others	79,674	34,791
Ending balance	R$ 6,557,009	R$ 7,173,183

INTANGIBLE - Intangible assets by type (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INTANGIBLE
Intangible assets	R$ 6,557,009	R$ 7,173,183	R$ 8,014,740
Non-compete agreement
INTANGIBLE
Intangible assets	R$ 4,818	5,128
Non-compete agreement, 5.00%
INTANGIBLE
Average rate %	5.00%
Ports concession
INTANGIBLE
Average rate %	4.30%
Intangible assets	R$ 537,179	554,832
Lease agreements
INTANGIBLE
Average rate %	16.90%
Intangible assets	R$ 6,875	14,374
Supplier agreements, 12.90%
INTANGIBLE
Average rate %	12.90%
Intangible assets	R$ 40,739	55,554
Supplier agreements, 17.64%
INTANGIBLE
Average rate %	17.60%
Intangible assets	R$ 10,861	21,427
Port service contracts
INTANGIBLE
Average rate %	4.20%
Intangible assets	R$ 549,821	579,289
Cultivars
INTANGIBLE
Average rate %	14.30%
Intangible assets	R$ 40,784	61,176
Trademarks and patents
INTANGIBLE
Average rate %	9.05%
Intangible assets	R$ 188,723	10,935
Customer-related intangible assets [member]
INTANGIBLE
Average rate %	9.10%
Intangible assets	R$ 4,925,879	5,746,860
Computer software [member]
INTANGIBLE
Average rate %	20.00%
Intangible assets	R$ 141,178	113,946
Others
INTANGIBLE
Average rate %	5.75%
Intangible assets	R$ 110,152	9,662
Cost
INTANGIBLE
Intangible assets	12,378,761	12,004,503
Amortization
INTANGIBLE
Intangible assets	R$ (5,821,752)	R$ (4,831,320)

TRADE ACCOUNTS PAYABLE (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade accounts payable
Trade accounts payable	R$ 5,572,219	R$ 6,206,570
Domestic (Brazil) \| Related party
Trade accounts payable
Trade accounts payable	3,946,185	4,171,988
Domestic (Brazil) \| Third party
Trade accounts payable
Trade accounts payable	1,023	3,776
Trade accounts payables balances subject to factoring at the exclusive option of certain suppliers	281,350	416,643
Domestic (Brazil) \| Third party \| Cerrado Project
Trade accounts payable
Trade accounts payable	1,080,028	1,370,833
Foreign \| Third party
Trade accounts payable
Trade accounts payable	1,625,011	2,030,806
Foreign \| Third party \| Cerrado Project
Trade accounts payable
Trade accounts payable	R$ 523,408	R$ 625,645

LOANS, FINANCING AND DEBENTURES - Breakdown by type (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Current borrowings	R$ 4,758,247	R$ 3,335,029
Interest on financing	1,232,810	1,238,623
Non-current funding	3,525,437	2,096,406
Non-current
Non-current borrowings	72,414,445	71,239,562
Non-current funding	72,414,445	71,239,562
Total
Total borrowings	77,172,692	74,574,591	R$ 79,628,629
Interest on financing	1,232,810	1,238,623
Non-current funding	75,939,882	73,335,968
Foreign
Current
Current borrowings before other adjustments	3,603,074	1,107,157
Non-current
Non-current borrowings before other adjustments	57,701,599	60,110,567
Non-current borrowings	57,701,599
Total
Borrowings, before other adjustments	R$ 61,304,673	61,217,724
Foreign \| BNDES \| UMBNDES
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	7.50%
Current
Current borrowings before other adjustments		11,207
Total
Borrowings, before other adjustments		11,207
Foreign \| Bonds
Non-current
Non-current borrowings	R$ 40,122,749
Foreign \| Bonds \| Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.00%
Current
Current borrowings before other adjustments	R$ 841,625	907,059
Non-current
Non-current borrowings before other adjustments	40,122,749	43,218,286
Total
Borrowings, before other adjustments	40,964,374	44,125,345
Foreign \| Export credits ("export prepayment")
Non-current
Non-current borrowings	R$ 14,487,252
Foreign \| Export credits ("export prepayment") \| SOFR/Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.80%
Current
Current borrowings before other adjustments	R$ 2,690,891	156,156
Non-current
Non-current borrowings before other adjustments	14,487,252	16,779,064
Total
Borrowings, before other adjustments	17,178,143	16,935,220
Foreign \| Assets Financing
Non-current
Non-current borrowings	R$ 220,199
Foreign \| Assets Financing \| SOFR
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	3.10%
Current
Current borrowings before other adjustments	R$ 61,924	26,755
Non-current
Non-current borrowings before other adjustments	220,199	113,217
Total
Borrowings, before other adjustments	282,123	139,972
Foreign \| IFC - International Finance Corporation
Non-current
Non-current borrowings	R$ 2,871,399
Foreign \| IFC - International Finance Corporation \| SOFR
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.50%
Current
Current borrowings before other adjustments	R$ 731
Non-current
Non-current borrowings before other adjustments	2,871,399
Total
Borrowings, before other adjustments	2,872,130
Foreign \| Others
Current
Current borrowings before other adjustments	7,903	5,980
Total
Borrowings, before other adjustments	7,903	5,980
Domestic (Brazil)
Current
Current borrowings	1,155,173	2,227,872
Non-current
Non-current borrowings	14,712,846	11,128,995
Total
Total borrowings	R$ 15,868,019	13,356,867
Domestic (Brazil) \| BNDES \| Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	4.00%
Current
Current borrowings before other adjustments	R$ 4,020	18,666
Non-current
Non-current borrowings before other adjustments		4,011
Total
Borrowings, before other adjustments	R$ 4,020	22,677
Domestic (Brazil) \| BNDES \| TJLP
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	8.40%
Current
Current borrowings before other adjustments	R$ 49,348	69,495
Non-current
Non-current borrowings before other adjustments	199,988	246,004
Non-current borrowings	199,988
Total
Borrowings, before other adjustments	R$ 249,336	315,499
Domestic (Brazil) \| BNDES \| TLP
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	13.20%
Current
Current borrowings before other adjustments	R$ 57,060	41,640
Non-current
Non-current borrowings before other adjustments	3,123,727	1,775,991
Non-current borrowings	3,123,727
Total
Borrowings, before other adjustments	R$ 3,180,787	1,817,631
Domestic (Brazil) \| BNDES \| SELIC
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	12.70%
Current
Current borrowings before other adjustments	R$ 65,013	67,115
Non-current
Non-current borrowings before other adjustments	857,419	814,320
Non-current borrowings	857,419
Total
Borrowings, before other adjustments	R$ 922,432	881,435
Domestic (Brazil) \| Export credits ("export prepayment") \| Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	8.40%
Current
Current borrowings before other adjustments	R$ 791,306	77,694
Non-current
Non-current borrowings before other adjustments		1,315,813
Total
Borrowings, before other adjustments	791,306	1,393,507
Domestic (Brazil) \| Assets Financing
Non-current
Non-current borrowings	R$ 71,235
Domestic (Brazil) \| Assets Financing \| CDI
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	12.30%
Current
Current borrowings before other adjustments	R$ 17,037
Non-current
Non-current borrowings before other adjustments	71,235
Total
Borrowings, before other adjustments	R$ 88,272
Domestic (Brazil) \| CRA contract \| CDI/IPCA
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	11.60%
Current
Current borrowings before other adjustments		1,829,966
Total
Borrowings, before other adjustments		1,829,966
Domestic (Brazil) \| NCE ("Export Credit Notes")
Non-current
Non-current borrowings	R$ 100,000
Domestic (Brazil) \| NCE ("Export Credit Notes") \| CDI
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	12.10%
Current
Current borrowings before other adjustments	R$ 3,114	76,463
Non-current
Non-current borrowings before other adjustments	100,000	1,277,616
Total
Borrowings, before other adjustments	103,114	1,354,079
Domestic (Brazil) \| NCR ("Rural producer certificate")
Non-current
Non-current borrowings	R$ 1,998,270
Domestic (Brazil) \| NCR ("Rural producer certificate") \| CDI
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	10.30%
Current
Current borrowings before other adjustments	R$ 101,739	13,144
Non-current
Non-current borrowings before other adjustments	1,998,270	274,127
Total
Borrowings, before other adjustments	2,100,009	287,271
Domestic (Brazil) \| Debentures
Non-current
Non-current borrowings	R$ 8,362,207
Domestic (Brazil) \| Debentures \| CDI/IPCA
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	11.70%
Current
Current borrowings before other adjustments	R$ 66,536	33,689
Non-current
Non-current borrowings before other adjustments	8,362,207	5,421,113
Total
Borrowings, before other adjustments	R$ 8,428,743	R$ 5,454,802

LOANS, FINANCING AND DEBENTURES - Interest and non-current funding (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Interest on financing	R$ 1,232,810	R$ 1,238,623
Non-current funding	3,525,437	2,096,406
Current borrowings	4,758,247	3,335,029
Non-current
Non-current funding	72,414,445	71,239,562
Non-current borrowings	72,414,445	71,239,562
Total
Interest on financing	1,232,810	1,238,623
Non-current funding	75,939,882	73,335,968
Total borrowings	R$ 77,172,692	R$ 74,574,591	R$ 79,628,629

LOANS, FINANCING AND DEBENTURES - Rollforward in loans, financing and debentures (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [abstract]
Opening balance	R$ 74,574,591	R$ 79,628,629
Fundraising, net issuances	10,944,794	1,335,715
Interest accrued	4,797,094	4,007,737
Monetary and exchange rate variations, net	(4,185,675)	(3,949,020)
Settlement of principal	4,296,447	2,517,934
Settlement of interest	4,728,998	4,019,072
Amortization of fundraising costs	67,333	69,649
Others (fair value adjustments on business combinations)		18,887
Closing balance	R$ 77,172,692	R$ 74,574,591

LOANS, FINANCING AND DEBENTURES - Breakdown by maturity - non current (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	R$ 72,414,445	R$ 71,239,562
Foreign
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	57,701,599
Foreign \| Bonds
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	40,122,749
Foreign \| IFC - International Finance Corporation
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	2,871,399
Foreign \| Export credits ("export prepayment")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	14,487,252
Foreign \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	220,199
Domestic (Brazil)
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	14,712,846	R$ 11,128,995
Domestic (Brazil) \| BNDES \| TJLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	199,988
Domestic (Brazil) \| BNDES \| TLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	3,123,727
Domestic (Brazil) \| BNDES \| SELIC
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	857,419
Domestic (Brazil) \| NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	100,000
Domestic (Brazil) \| NCR ("Rural producer certificate")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	1,998,270
Domestic (Brazil) \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	71,235
Domestic (Brazil) \| Debentures
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	8,362,207
2025
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	9,764,239
2025 \| Foreign
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	7,005,284
2025 \| Foreign \| Bonds
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	1,638,631
2025 \| Foreign \| Export credits ("export prepayment")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	5,303,913
2025 \| Foreign \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	62,740
2025 \| Domestic (Brazil)
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	2,758,955
2025 \| Domestic (Brazil) \| BNDES \| TJLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	99,525
2025 \| Domestic (Brazil) \| BNDES \| TLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	69,785
2025 \| Domestic (Brazil) \| BNDES \| SELIC
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	231,793
2025 \| Domestic (Brazil) \| Export credits ("export prepayment")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	2,340,550
2025 \| Domestic (Brazil) \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	17,302
2026
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	10,022,977
2026 \| Foreign
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	7,261,906
2026 \| Foreign \| Bonds
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	2,511,857
2026 \| Foreign \| Export credits ("export prepayment")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	4,684,879
2026 \| Foreign \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	65,170
2026 \| Domestic (Brazil)
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	2,761,071
2026 \| Domestic (Brazil) \| BNDES \| TJLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	85,538
2026 \| Domestic (Brazil) \| BNDES \| TLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	92,134
2026 \| Domestic (Brazil) \| BNDES \| SELIC
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	230,625
2026 \| Domestic (Brazil) \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	17,644
2026 \| Domestic (Brazil) \| Debentures
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	2,335,130
2027
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	7,623,213
2027 \| Foreign
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	7,389,749
2027 \| Foreign \| Bonds
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	3,364,504
2027 \| Foreign \| IFC - International Finance Corporation
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	188,273
2027 \| Foreign \| Export credits ("export prepayment")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	3,772,028
2027 \| Foreign \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	64,944
2027 \| Domestic (Brazil)
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	233,464
2027 \| Domestic (Brazil) \| BNDES \| TJLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	7,117
2027 \| Domestic (Brazil) \| BNDES \| TLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	152,944
2027 \| Domestic (Brazil) \| BNDES \| SELIC
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	30,406
2027 \| Domestic (Brazil) \| NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	25,000
2027 \| Domestic (Brazil) \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	17,997
2028
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	4,281,259
2028 \| Foreign
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	3,305,381
2028 \| Foreign \| Bonds
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	2,390,464
2028 \| Foreign \| IFC - International Finance Corporation
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	887,572
2028 \| Foreign \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	27,345
2028 \| Domestic (Brazil)
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	975,878
2028 \| Domestic (Brazil) \| BNDES \| TJLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	3,604
2028 \| Domestic (Brazil) \| BNDES \| TLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	150,111
2028 \| Domestic (Brazil) \| BNDES \| SELIC
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	30,405
2028 \| Domestic (Brazil) \| NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	25,000
2028 \| Domestic (Brazil) \| Assets Financing
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	18,292
2028 \| Domestic (Brazil) \| Debentures
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	748,466
2029
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	10,672,755
2029 \| Foreign
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	10,477,796
2029 \| Foreign \| Bonds
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	8,460,351
2029 \| Foreign \| IFC - International Finance Corporation
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	1,291,013
2029 \| Foreign \| Export credits ("export prepayment")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	726,432
2029 \| Domestic (Brazil)
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	194,959
2029 \| Domestic (Brazil) \| BNDES \| TJLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	3,604
2029 \| Domestic (Brazil) \| BNDES \| TLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	135,949
2029 \| Domestic (Brazil) \| BNDES \| SELIC
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	30,406
2029 \| Domestic (Brazil) \| NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	25,000
2030 onwards
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	30,050,002
2030 onwards \| Foreign
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	22,261,483
2030 onwards \| Foreign \| Bonds
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	21,756,942
2030 onwards \| Foreign \| IFC - International Finance Corporation
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	504,541
2030 onwards \| Domestic (Brazil)
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	7,788,519
2030 onwards \| Domestic (Brazil) \| BNDES \| TJLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	600
2030 onwards \| Domestic (Brazil) \| BNDES \| TLP
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	2,522,804
2030 onwards \| Domestic (Brazil) \| BNDES \| SELIC
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	303,784
2030 onwards \| Domestic (Brazil) \| NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	25,000
2030 onwards \| Domestic (Brazil) \| NCR ("Rural producer certificate")
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	1,998,270
2030 onwards \| Domestic (Brazil) \| Debentures
LOANS, FINANCING AND DEBENTURES
Non-current loans and financing	R$ 2,938,061

LOANS, FINANCING AND DEBENTURES - Breakdown by currency (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
LOANS, FINANCING AND DEBENTURES
Borrowings	R$ 77,172,692	R$ 74,574,591	R$ 79,628,629
Brazil, Brazil Real
LOANS, FINANCING AND DEBENTURES
Borrowings	15,868,019	13,347,244
US Dollars
LOANS, FINANCING AND DEBENTURES
Borrowings	61,304,673	61,216,140
Currency basket
LOANS, FINANCING AND DEBENTURES
Borrowings		R$ 11,207

LOANS, FINANCING AND DEBENTURES - Fundraising costs (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
LOANS, FINANCING AND DEBENTURES
Cost	R$ 1,003,612
Amortization	632,331
Balance to be amortized	371,281	R$ 320,053
Bonds
LOANS, FINANCING AND DEBENTURES
Cost	434,970
Amortization	270,145
Balance to be amortized	164,825	210,822
CRA and NCE
LOANS, FINANCING AND DEBENTURES
Cost	125,222
Amortization	122,526
Balance to be amortized	2,696	10,838
Export credits ("export prepayment")
LOANS, FINANCING AND DEBENTURES
Cost	196,526
Amortization	144,364
Balance to be amortized	52,162	75,520
Debentures
LOANS, FINANCING AND DEBENTURES
Cost	123,216
Amortization	20,981
Balance to be amortized	102,235	9,984
BNDES
LOANS, FINANCING AND DEBENTURES
Cost	63,588
Amortization	53,734
Balance to be amortized	9,854	12,016
IFC - International Finance Corporation
LOANS, FINANCING AND DEBENTURES
Cost	41,943
Amortization	3,032
Balance to be amortized	38,911
Others
LOANS, FINANCING AND DEBENTURES
Cost	18,147
Amortization	17,549
Balance to be amortized	R$ 598	R$ 873

LOANS, FINANCING AND DEBENTURES - Relevant transactions entered into the year (Details) R$ in Thousands, $ in Thousands												1 Months Ended
	Dec. 28, 2023 BRL (R$)	Dec. 14, 2023 USD ($)	Oct. 30, 2023 BRL (R$)	Oct. 20, 2023 BRL (R$)	Sep. 18, 2023 BRL (R$)	Aug. 09, 2023 BRL (R$)	Jun. 29, 2023 BRL (R$) intenger	Jun. 27, 2023 BRL (R$)	Jun. 21, 2023 USD ($)	May 19, 2023 USD ($)	Dec. 22, 2022 USD ($)	Dec. 22, 2022 USD ($)	Dec. 14, 2023 BRL (R$)	Jun. 21, 2023 BRL (R$)	May 19, 2023 BRL (R$)	Dec. 22, 2022 BRL (R$)
Funds raised from BNDES \| 5.23% BNDES, Due December 2037 [Member]
LOANS, FINANCING AND DEBENTURES
Principle amount								R$ 500,000
Grace period								7 years
Funds raised from BNDES \| 5.23% BNDES, Due December 2037 [Member] \| TLP
LOANS, FINANCING AND DEBENTURES
Interest rate basis								Long-Term Rate ("TLP"), plus a fixed interest rate of 5.23% p.a.
Basis spread (as a percent)								5.23%
Funds raised from BNDES \| 6.97% BNDES, Due December 2037 [Member]
LOANS, FINANCING AND DEBENTURES
Principle amount				R$ 539,000
Grace period				6 years
Funds raised from BNDES \| 6.97% BNDES, Due December 2037 [Member] \| TLP
LOANS, FINANCING AND DEBENTURES
Interest rate basis				BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 6.97% p.a.
Basis spread (as a percent)				6.97%
Funds raised from BNDES \| 7.11% BNDES, Due October 2042 [Member]
LOANS, FINANCING AND DEBENTURES
Principle amount			R$ 100,000
Grace period			1 year
Funds raised from BNDES \| 7.11% BNDES, Due October 2042 [Member] \| TLP
LOANS, FINANCING AND DEBENTURES
Interest rate basis			BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 7.11% p.a.
Basis spread (as a percent)			7.11%
Funds raised from BNDES \| 7.41% BNDES, Due December 2043 [Member]
LOANS, FINANCING AND DEBENTURES
Principle amount	R$ 100,000
Grace period	2 years
Funds raised from BNDES \| 7.41% BNDES, Due December 2043 [Member] \| TLP
LOANS, FINANCING AND DEBENTURES
Interest rate basis	BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 7.41% p.a.
Basis spread (as a percent)	7.41%
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) A&B Loan
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity											$ 600,000	$ 600,000				R$ 2,891,520
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) A-Loan
LOANS, FINANCING AND DEBENTURES
Grace period											6 years
Maximum borrowing capacity											$ 250,000	$ 250,000				R$ 1,204,800
IFRS Debt Instrument Term											8 years
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) A-Loan \| SOFR
LOANS, FINANCING AND DEBENTURES
Interest rate basis												Term SOFR + 1.80% p.a.
Basis spread (as a percent)											1.80%	1.80%				1.80%
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) B-Loan
LOANS, FINANCING AND DEBENTURES
Grace period											5 years
Maximum borrowing capacity											$ 350,000	$ 350,000				R$ 1,686,720
IFRS Debt Instrument Term											7 years
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) B-Loan \| SOFR
LOANS, FINANCING AND DEBENTURES
Interest rate basis											Term SOFR + 1.60% p.a.
Basis spread (as a percent)											1.60%	1.60%				1.60%
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) B-Loan Tranche 2 [Member]
LOANS, FINANCING AND DEBENTURES
Grace period		6 years
Maximum borrowing capacity		$ 195,000											R$ 953,784
IFRS Debt Instrument Term		8 years
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) B-Loan Tranche 2 [Member] \| SOFR
LOANS, FINANCING AND DEBENTURES
Interest rate basis		Term SOFR + 1.80% p.a.
Basis spread (as a percent)		1.80%											1.80%
Advance of exchange contract (ACC) [Member] \| BNB Paribas [Member]
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)									6.52%					6.52%
Advance of exchange contract (ACC) [Member] \| BNB Paribas [Member] \| May 2024 [Member]
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)										6.00%					6.00%
Maximum borrowing capacity										$ 100,000					R$ 481,920
Advance of exchange contract (ACC) [Member] \| BNB Paribas [Member] \| June 2024
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity									$ 35,000					R$ 168,672
Advance of exchange contract (ACC) [Member] \| BNB Paribas [Member] \| Pre-fixed rate in US dollars [Member] \| May 2024 [Member]
LOANS, FINANCING AND DEBENTURES
Interest rate basis										pre-fixed rate of 6.00% in US dollars
Advance of exchange contract (ACC) [Member] \| BNB Paribas [Member] \| Pre-fixed rate in US dollars [Member] \| June 2024
LOANS, FINANCING AND DEBENTURES
Interest rate basis									pre-fixed rate of 6.52% in US dollars
Debentures
LOANS, FINANCING AND DEBENTURES
Notes and debentures issued							R$ 1,000,000
Issuance of ordinary debentures, not convertible into shares \| intenger							2
Debentures \| Not later than seven years
LOANS, FINANCING AND DEBENTURES
IFRS Debt Instrument Term							7 years
Notes and debentures issued							R$ 500,000
Debentures \| Later than seven years and not later than ten years [member]
LOANS, FINANCING AND DEBENTURES
IFRS Debt Instrument Term							10 years
Notes and debentures issued							R$ 500,000
Debentures \| Later than ten years and not later than fifteen years [member]
LOANS, FINANCING AND DEBENTURES
IFRS Debt Instrument Term					15 years
Notes and debentures issued					R$ 2,000,000
Debentures \| IPCA [Member] \| Not later than seven years
LOANS, FINANCING AND DEBENTURES
Interest rate basis							IPCA + 6.0188% p.a.
Basis spread (as a percent)							6.0188%
Debentures \| IPCA [Member] \| Later than seven years and not later than ten years [member]
LOANS, FINANCING AND DEBENTURES
Interest rate basis							IPCA + 6.2477% p.a.
Basis spread (as a percent)							6.2477%
Debentures \| IPCA [Member] \| Later than ten years and not later than fifteen years [member]
LOANS, FINANCING AND DEBENTURES
Interest rate basis					IPCA + 6.1889% p.a.
Basis spread (as a percent)					6.1889%
Rural Credit Note [Member] \| CDI \| Not later than seven years
LOANS, FINANCING AND DEBENTURES
Interest rate basis						CDI + 1.25% p.a.
Basis spread (as a percent)						1.25%
Rural Credit Note [Member] \| Banco Safra [Member] \| Not later than seven years
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity						R$ 2,000,000
Rural Credit Note [Member] \| Banco Safra [Member] \| CDI
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity						R$ 1,616,500

LOANS, FINANCING AND DEBENTURES - Sustainability Linked Loan (Details) R$ in Thousands, $ in Thousands										1 Months Ended
	Dec. 14, 2023 USD ($)	Sep. 18, 2023 BRL (R$)	Aug. 25, 2023 USD ($)	Aug. 25, 2023 BRL (R$)	Aug. 15, 2023 BRL (R$)	Aug. 09, 2023 BRL (R$)	Jun. 29, 2023 BRL (R$)	Jun. 22, 2023 BRL (R$)	Dec. 22, 2022 USD ($)	Dec. 22, 2022 USD ($)	Dec. 14, 2023 BRL (R$)	Jun. 21, 2023 USD ($)	Jun. 21, 2023 BRL (R$)	Dec. 22, 2022 BRL (R$)
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) A&B Loan
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity									$ 600,000	$ 600,000				R$ 2,891,520
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) A-Loan
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity									$ 250,000	$ 250,000				R$ 1,204,800
Grace period									6 years
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) A-Loan \| SOFR
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)									1.80%	1.80%				1.80%
Interest rate basis										Term SOFR + 1.80% p.a.
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) B-Loan
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity									$ 350,000	$ 350,000				R$ 1,686,720
Grace period									5 years
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) B-Loan \| SOFR
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)									1.60%	1.60%				1.60%
Interest rate basis									Term SOFR + 1.60% p.a.
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) B-Loan Tranche 2 [Member]
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity	$ 195,000										R$ 953,784
Grace period	6 years
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) B-Loan Tranche 2 [Member] \| SOFR
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)	1.80%										1.80%
Interest rate basis	Term SOFR + 1.80% p.a.
Advance of exchange contract (ACC) [Member] \| BNB Paribas [Member]
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)												6.52%	6.52%
Advance of exchange contract (ACC) [Member] \| BNB Paribas [Member] \| June 2024
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity												$ 35,000	R$ 168,672
Debentures
LOANS, FINANCING AND DEBENTURES
Notes and debentures issued							R$ 1,000,000
Debentures \| Not later than seven years
LOANS, FINANCING AND DEBENTURES
Notes and debentures issued							500,000
Debentures \| Later than seven years and not later than ten years [member]
LOANS, FINANCING AND DEBENTURES
Notes and debentures issued							R$ 500,000
Debentures \| Later than ten years and not later than fifteen years [member]
LOANS, FINANCING AND DEBENTURES
Notes and debentures issued		R$ 2,000,000
Debentures \| IPCA [Member] \| Not later than seven years
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)							6.0188%
Interest rate basis							IPCA + 6.0188% p.a.
Debentures \| IPCA [Member] \| Later than seven years and not later than ten years [member]
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)							6.2477%
Interest rate basis							IPCA + 6.2477% p.a.
Debentures \| IPCA [Member] \| Later than ten years and not later than fifteen years [member]
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)		6.1889%
Interest rate basis		IPCA + 6.1889% p.a.
Rural Credit Note [Member] \| CDI \| Not later than seven years
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)						1.25%
Interest rate basis						CDI + 1.25% p.a.
Rural Credit Note [Member] \| CDI \| June 2026 [Member]
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)						0.99%
Interest rate basis						CDI + 0.99% p.a.
Rural Credit Note [Member] \| CDI \| August 2026 [Member]
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)						1.03%
Interest rate basis						CDI + 1.03% p.a.
Rural Credit Note [Member] \| Banco Safra [Member] \| Not later than seven years
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity						R$ 2,000,000
Rural Credit Note [Member] \| Banco Safra [Member] \| CDI
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity						R$ 1,616,500
Export Prepayment Agreements ("EPP") \| Bank JP Morgan [Member] \| January 2029
LOANS, FINANCING AND DEBENTURES
Repayments of borrowings, classified as financing activities			$ 150,961	R$ 736,266
Export Prepayment Agreements ("EPP") \| Bank JP Morgan [Member] \| June 2024
LOANS, FINANCING AND DEBENTURES
Repayments of borrowings, classified as financing activities			$ 118,653	R$ 587,333
Export Prepayment Agreements ("EPP") \| Bank JP Morgan [Member] \| SOFR
LOANS, FINANCING AND DEBENTURES
Interest rate basis			Term SOFR 6M + 1.93% p.a.	Term SOFR 6M + 1.93% p.a.
Export Prepayment Agreements ("EPP") \| Bank JP Morgan [Member] \| SOFR \| January 2029
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)			1.93%	1.93%
Export Prepayment Agreements ("EPP") \| Bank JP Morgan [Member] \| SOFR \| June 2024
LOANS, FINANCING AND DEBENTURES
Basis spread (as a percent)			7.70%	7.70%
Interest rate basis			pre-fixed rate in reais of 7.70% p.a.	pre-fixed rate in reais of 7.70% p.a.
CRA contract \| IPCA [Member]
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity					R$ 561,502			R$ 685,239			R$ 741,228
Basis spread (as a percent)	6.1346%				5.9844%			5.9844%			6.1346%
Interest rate basis	IPCA + 6.1346% p.a.				IPCA + 5.9844% p.a.			IPCA + 5.9844% p.a.

LOANS, FINANCING AND DEBENTURES - Relevant transactions settled in the year (Details) R$ in Thousands, $ in Thousands												1 Months Ended
	Dec. 28, 2023	Dec. 14, 2023 BRL (R$)	Oct. 30, 2023	Oct. 20, 2023	Aug. 25, 2023 USD ($)	Aug. 25, 2023 BRL (R$)	Aug. 15, 2023 BRL (R$)	Aug. 09, 2023 BRL (R$)	Jun. 27, 2023	Jun. 22, 2023 BRL (R$)	Dec. 22, 2022 USD ($)	Dec. 22, 2022 USD ($)	Dec. 22, 2022 BRL (R$)
Funds raised from BNDES \| 5.23% BNDES, Due December 2037 [Member] \| TLP
LOANS, FINANCING AND DEBENTURES
Interest rate basis									Long-Term Rate ("TLP"), plus a fixed interest rate of 5.23% p.a.
Borrowings, adjustment to interest rate basis									5.23%
Funds raised from BNDES \| 6.97% BNDES, Due December 2037 [Member] \| TLP
LOANS, FINANCING AND DEBENTURES
Interest rate basis				BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 6.97% p.a.
Borrowings, adjustment to interest rate basis				6.97%
Funds raised from BNDES \| 7.11% BNDES, Due October 2042 [Member] \| TLP
LOANS, FINANCING AND DEBENTURES
Interest rate basis			BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 7.11% p.a.
Borrowings, adjustment to interest rate basis			7.11%
Funds raised from BNDES \| 7.41% BNDES, Due December 2043 [Member] \| TLP
LOANS, FINANCING AND DEBENTURES
Interest rate basis	BNDES indexed by the Long-Term Rate (“TLP”) interest rate, plus fixed interest of 7.41% p.a.
Borrowings, adjustment to interest rate basis	7.41%
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) A-Loan
LOANS, FINANCING AND DEBENTURES
IFRS Debt Instrument Term											8 years
Maximum borrowing capacity											$ 250,000	$ 250,000	R$ 1,204,800
Sustainability Linked Loan ("SLL") \| International Finance Corporation (IFC) A-Loan \| SOFR
LOANS, FINANCING AND DEBENTURES
Interest rate basis												Term SOFR + 1.80% p.a.
Borrowings, adjustment to interest rate basis											1.80%	1.80%	1.80%
Export Prepayment Agreements ("EPP") \| Bank JP Morgan [Member] \| June 2024
LOANS, FINANCING AND DEBENTURES
Transaction amount settled					$ 118,653	R$ 587,333
Export Prepayment Agreements ("EPP") \| Bank JP Morgan [Member] \| SOFR
LOANS, FINANCING AND DEBENTURES
Interest rate basis					Term SOFR 6M + 1.93% p.a.	Term SOFR 6M + 1.93% p.a.
Export Prepayment Agreements ("EPP") \| Bank JP Morgan [Member] \| SOFR \| June 2024
LOANS, FINANCING AND DEBENTURES
Interest rate basis					pre-fixed rate in reais of 7.70% p.a.	pre-fixed rate in reais of 7.70% p.a.
Borrowings, adjustment to interest rate basis					7.70%	7.70%
CRA contract \| IPCA [Member]
LOANS, FINANCING AND DEBENTURES
Interest rate basis		IPCA + 6.1346% p.a.					IPCA + 5.9844% p.a.			IPCA + 5.9844% p.a.
Maximum borrowing capacity		R$ 741,228					R$ 561,502			R$ 685,239
Borrowings, adjustment to interest rate basis		6.1346%					5.9844%			5.9844%
Rural Credit Note [Member] \| CDI \| June 2026 [Member]
LOANS, FINANCING AND DEBENTURES
Interest rate basis								CDI + 0.99% p.a.
Borrowings, adjustment to interest rate basis								0.99%
Rural Credit Note [Member] \| CDI \| August 2026 [Member]
LOANS, FINANCING AND DEBENTURES
Interest rate basis								CDI + 1.03% p.a.
Borrowings, adjustment to interest rate basis								1.03%
Rural Credit Note [Member] \| Banco Safra [Member] \| CDI
LOANS, FINANCING AND DEBENTURES
Maximum borrowing capacity								R$ 1,616,500

LEASES - Right of use assets (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Right of use assets
Beginning balance	R$ 5,109,226	R$ 4,794,023
Additions and Updates to Right of Use Assets	813,909	982,680
Depreciation	(707,707)	(592,451)
Write-offs	(18,797)	(75,026)
Ending balance	5,196,631	5,109,226
Lands and farms
Right of use assets
Beginning balance	3,283,156	2,868,411
Additions and Updates to Right of Use Assets	496,236	849,996
Depreciation	(386,436)	(360,225)
Write-offs	(12,658)	(75,026)
Ending balance	3,380,298	3,283,156
Machines and equipment
Right of use assets
Beginning balance	112,553	86,464
Additions and Updates to Right of Use Assets	206,847	66,821
Depreciation	(134,587)	(40,732)
Ending balance	184,813	112,553
Buildings [member]
Right of use assets
Beginning balance	85,756	88,410
Additions and Updates to Right of Use Assets	101,124	61,647
Depreciation	(59,448)	(64,301)
Ending balance	127,432	85,756
Ships and boats
Right of use assets
Beginning balance	1,623,118	1,748,008
Additions and Updates to Right of Use Assets
Depreciation	(124,890)	(124,890)
Write-offs
Ending balance	1,498,228	1,623,118
Vehicles [member]
Right of use assets
Beginning balance	4,643	2,730
Additions and Updates to Right of Use Assets	9,702	4,216
Depreciation	(2,346)	(2,303)
Write-offs	(6,139)
Ending balance	R$ 5,860	R$ 4,643

LEASES - Lease liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease Liabilities
Present value of liabilities	R$ 6,243,782	R$ 6,182,530	R$ 5,893,194
Lands and farms
Lease Liabilities
Average rate - % p.a.	12.52%
Maturity period of lease liabilities	September, 2051
Present value of liabilities	R$ 3,711,023
Machines and equipment
Lease Liabilities
Average rate - % p.a.	11.43%
Maturity period of lease liabilities	April, 2035
Present value of liabilities	R$ 259,482
Buildings [member]
Lease Liabilities
Average rate - % p.a.	10.84%
Maturity period of lease liabilities	December, 2033
Present value of liabilities	R$ 122,066
Ships and boats
Lease Liabilities
Average rate - % p.a.	11.39%
Maturity period of lease liabilities	February, 2039
Present value of liabilities	R$ 2,145,682
Vehicles [member]
Lease Liabilities
Average rate - % p.a.	11.29%
Maturity period of lease liabilities	November, 2028
Present value of liabilities	R$ 5,529

LEASES - Changes in lease liabilities (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease Liabilities
Opening balance	R$ 6,182,530	R$ 5,893,194
Additions	813,909	982,680
Write-offs	(18,797)	(75,026)
Payments	(1,218,399)	(1,044,119)
Accrual of financial charges	664,651	612,042
Exchange rate variation	(180,112)	(186,241)
Closing balance	6,243,782	6,182,530
Current	753,399	672,174
Non-current	5,490,383	5,510,356
Leased Land \| Biological assets [member]
Lease Liabilities
Capitalized interest	R$ 223,055	R$ 178,429

LEASES - Amounts recognized in the statement of income for the year (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Presentation of leases for lessee [abstract]
Expenses relating to short-term assets	R$ 8,005	R$ 6,836
Expenses relating to low-value assets	2,611	1,580
Total amount recognized	R$ 10,616	R$ 8,416

PROVISION FOR JUDICIAL LIABILITIES - Roll-forward and changes in the provision for probable losses, net of judicial deposits (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$) item	Dec. 31, 2022 BRL (R$) item
Probable losses
PROVISION FOR JUDICIAL LIABILITIES
Balance provision at the beginning for the period	R$ 3,440,154	R$ 3,433,154
Payments	(41,903)	(79,961)
Write-off	(620,907)	(189,070)
Additions	270,681	228,432
Monetary adjustment	64,852	47,599
Provision balance	3,112,877	3,440,154
Judicial deposits	252,468	183,844
Balance provision at the end for the period	2,860,409	3,256,310
Probable losses \| Fibria
PROVISION FOR JUDICIAL LIABILITIES
Reversal due to a change in probability, cancellation and/or due to settlement	372,541
Tax and social security \| Probable losses
PROVISION FOR JUDICIAL LIABILITIES
Balance provision at the beginning for the period	419,915	477,096
Payments	(1,717)	(14,948)
Write-off	(18,035)	(71,446)
Additions	37,656	14,036
Monetary adjustment	31,020	15,177
Provision balance	468,839	419,915
Judicial deposits	154,469	149,951
Balance provision at the end for the period	R$ 314,370	R$ 269,964
Tax and social security \| Possible or remote probability of loss
PROVISION FOR JUDICIAL LIABILITIES
Number of administrative proceedings and lawsuits \| item	32	31
Labor \| Probable losses
PROVISION FOR JUDICIAL LIABILITIES
Balance provision at the beginning for the period	R$ 255,805	R$ 178,925
Payments	(37,172)	(44,516)
Write-off	(101,375)	(53,211)
Additions	211,690	157,562
Monetary adjustment	20,110	17,045
Provision balance	349,058	255,805
Judicial deposits	82,305	12,270
Balance provision at the end for the period	R$ 266,753	R$ 243,535
Number of lawsuits \| item	1,241	1,117
Civil, environment and real estate \| Probable losses
PROVISION FOR JUDICIAL LIABILITIES
Balance provision at the beginning for the period	R$ 118,729	R$ 82,592
Payments	(3,014)	(20,497)
Write-off	(11,337)	(15,577)
Additions	21,335	56,834
Monetary adjustment	13,722	15,377
Provision balance	139,435	118,729
Judicial deposits	15,694	21,623
Balance provision at the end for the period	R$ 123,741	R$ 97,106
Number of lawsuits \| item	76	66
Civil, environment and real estate \| Possible or remote probability of loss \| Fibria
PROVISION FOR JUDICIAL LIABILITIES
Estimate of possible loss	R$ 140,470	R$ 197,141
Contingent liabilities assumed
PROVISION FOR JUDICIAL LIABILITIES
Payments
Contingent liabilities assumed \| Probable losses
PROVISION FOR JUDICIAL LIABILITIES
Balance provision at the beginning for the period	2,645,705	2,694,541
Write-off	(490,160)	(48,836)
Provision balance	2,155,545	2,645,705
Judicial deposits
Balance provision at the end for the period	2,155,545	2,645,705
Tax contingent liability [member] \| Possible or remote probability of loss \| Fibria
PROVISION FOR JUDICIAL LIABILITIES
Estimate of possible loss	R$ 2,015,075	R$ 2,448,564

PROVISION FOR JUDICIAL LIABILITIES - Contingencies with possible losses (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	R$ 14,432,915	R$ 12,937,551
Fibria
PROVISION FOR JUDICIAL LIABILITIES
Fair value adjustment of probable contingencies	2,135,869	2,614,518
Tax and social security
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	9,775,068	8,201,246
Labor
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	194,883	321,428
Civil and environment
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	R$ 4,462,964	R$ 4,414,877

PROVISION FOR JUDICIAL LIABILITIES - Possible losses, tax and social securities (Details) R$ in Thousands	1 Months Ended
	Mar. 31, 2009 BRL (R$)	Dec. 31, 2023 BRL (R$) item	Dec. 31, 2022 BRL (R$) item
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		R$ 14,432,915	R$ 12,937,551
Tax and social security
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		9,775,068	8,201,246
Tax contingent liability [member]
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		R$ 9,775,068	R$ 8,201,246
Tax contingent liability [member] \| Possible losses
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits \| item		733	766
Tax contingent liability [member] \| Income tax assessment - IRPJ/CSLL - Swap of industrial and forestry assets
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		R$ 1,630,537	R$ 2,505,970
Tax contingent liability [member] \| Income tax assessment - IRPJ/CSLL: This is an administrative proceeding initiated in October 2023 [Member]
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		845,164
Tax contingent liability [member] \| Income tax assessment - IRPJ/CSLL disallowance of depreciation, amortization and depletion expenses - 2010
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		827,186	777,362
Tax contingent liability [member] \| Tax assessment - Corporate Income Tax and Social Contribution
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		563,723	516,433
Tax contingent liability [member] \| PIS/COFINS - Goods and services - 2009 to 2011
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		190,875	180,219
Tax contingent liability [member] \| Tax assessment - taxation on a universal basis, Year 2015
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		176,917	163,059
Tax contingent liability [member] \| Tax incentive - Agency for the Development of Northeastern Brazil ("ADENE")
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		143,912	136,733
Tax contingent liability [member] \| Offsetting - IRRF - period 2000
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		120,871	116,105
Tax contingent liability [member] \| IRPJ/CSLL partial approval of offset of 1997 tax loss
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		117,130	111,775
Tax loss offset approved by tax authorities	R$ 83
Difference of tax loss and owned to tax authorities	R$ 51
Tax contingent liability [member] \| Income tax assessment - IRPJ/CSLL Administrative process requiring the collection of IRPJ and CSLL for the 2015 calendar year [Member]
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		106,477	97,515
Tax contingent liability [member] \| Income tax assessment - IRPJ/CSLL - Income tax assessment - IRPJ/CSLL - Decision Order that partially approved the compensation carried out by the Company [Member]
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded		R$ 102,496	R$ 93,232

PROVISION FOR JUDICIAL LIABILITIES - Possible losses, labor (Details) R$ in Thousands	Dec. 31, 2023 BRL (R$) item	Dec. 31, 2022 BRL (R$) item
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	R$ 14,432,915	R$ 12,937,551
Labor
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	R$ 194,883	R$ 321,428
Labor \| Possible losses
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits \| item	1,034	1,248
Possible losses for which no provision was recorded	R$ 194,883	R$ 321,428
Labor \| Probable losses
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits \| item	1,241	1,117

PROVISION FOR JUDICIAL LIABILITIES - Possible losses, civil and environmental (Details) R$ in Thousands	12 Months Ended
	Dec. 31, 2023 BRL (R$) ha item	Dec. 31, 2022 BRL (R$) item
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded \| R$	R$ 14,432,915	R$ 12,937,551
Civil, environment and real estate
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded \| R$	4,462,964	4,414,877
Civil and environment
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded \| R$	R$ 4,462,964	R$ 4,414,877
Civil and environment \| Public Civil Claims, real properties acquired \| Public Civil Claim 2
PROVISION FOR JUDICIAL LIABILITIES
Area blocked in preliminary injunction \| ha	4,000
Possible losses \| Civil, environment and real estate
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits	219	221
Possible losses \| Civil and environment \| Public Civil Claims, transportation of wood
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits	2
Possible losses \| Civil and environment \| Public Civil Claims, real properties acquired
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits	2
Possible losses \| Civil and environment \| Public Civil Claims, environmental lawsuit
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits	1
Possible losses \| Civil and environment \| Public Civil Claims, administrative civil proceeding
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits	1

EMPLOYEE BENEFIT PLANS - Summary of Plans (Details) - Suzano Prev - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
EMPLOYEE BENEFIT PLANS
Maximum aggregate percentage of contribution by employee	12.00%
Employer contributions	R$ 18,342	R$ 15,248
Nominal salary greater than 10 URS
EMPLOYEE BENEFIT PLANS
Percentage of contribution by the employee	0.50%
Nominal salary greater than 10 URS \| Bottom of range [member]
EMPLOYEE BENEFIT PLANS
Percentage of contribution by the employee	1.00%
Nominal salary greater than 10 URS \| Top of range [member]
EMPLOYEE BENEFIT PLANS
Percentage of contribution by the employee		6.00%
Nominal salary less than 10 URS \| Bottom of range [member]
EMPLOYEE BENEFIT PLANS
Percentage of contribution by the Company	0.50%
Percentage of contribution by the employee	0.50%
Nominal salary less than 10 URS \| Top of range [member]
EMPLOYEE BENEFIT PLANS
Percentage of contribution by the employee	1.00%

EMPLOYEE BENEFIT PLANS - Roll-forward of actuarial liability (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Roll-forward of actuarial liability
Opening balance	R$ 691,424	R$ 675,158
Interest on actuarial liabilities	67,272	58,420
Current service cost, defined benefit plans	1,959	838
Actuarial loss – experience	57,765	74,794
Actuarial loss (gain) – financial assumptions	(70,762)	(62,563)
Exchange rate variations		577
Benefits paid	(55,499)	(54,646)
Closing balance	R$ 833,683	R$ 691,424

EMPLOYEE BENEFIT PLANS - Economic actuarial assumptions and biometric data (Details) - Pension defined benefit plans [member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
EMPLOYEE BENEFIT PLANS
Retirement age	65 years	65 years
Percentage of retirees who are married	90.00%	90.00%
Family composition	Men 4 years + old	Men 4 years + old
Permanency in the plan	100.00%	100.00%
Discount rate
EMPLOYEE BENEFIT PLANS
Nominal discount rate – medical assistance and life insurance	9.14%	10.07%
Medical cost growth rate
EMPLOYEE BENEFIT PLANS
Medical cost growth rate	6.86%	6.86%
Nominal inflation
EMPLOYEE BENEFIT PLANS
Nominal inflation	3.50%	3.50%
Ages: 0 to 24 years
EMPLOYEE BENEFIT PLANS
Aging factor	1.50%	1.50%
Ages: 25 to 54 years
EMPLOYEE BENEFIT PLANS
Aging factor	2.50%	2.50%
Ages: 55 to 79 years
EMPLOYEE BENEFIT PLANS
Aging factor	4.50%	4.50%
Ages: Above 80 years
EMPLOYEE BENEFIT PLANS
Aging factor	2.50%	2.50%
Actuarial assumption of mortality rates [member]
EMPLOYEE BENEFIT PLANS
Biometric table of general mortality	AT-2000	AT-2000
Biometric table of mortality for disabled persons	IAPB 57	IAPB 57
Turnover	1.00%	1.00%

EMPLOYEE BENEFIT PLANS - Sensitivity Analysis (Details) R$ in Thousands	Dec. 31, 2023 BRL (R$)
Discount rate \| Sensitivity Analysis, +0.50%
Sensitivity analysis regarding the relevant assumptions of the plans
Increase in present value, net	R$ 852,688
Medical cost growth rate \| Sensitivity Analysis, +1.00%
Sensitivity analysis regarding the relevant assumptions of the plans
Increase in present value, net	R$ 896,842

EMPLOYEE BENEFIT PLANS - Forecast amounts and average duration of payments of obligations (Details) R$ in Thousands	Dec. 31, 2023 BRL (R$)
2023
EMPLOYEE BENEFIT PLANS
Estimated future benefit payments	R$ 50,482
2024
EMPLOYEE BENEFIT PLANS
Estimated future benefit payments	53,893
2025
EMPLOYEE BENEFIT PLANS
Estimated future benefit payments	57,429
2026
EMPLOYEE BENEFIT PLANS
Estimated future benefit payments	61,010
2027
EMPLOYEE BENEFIT PLANS
Estimated future benefit payments	64,717
2028 to 2032
EMPLOYEE BENEFIT PLANS
Estimated future benefit payments	R$ 376,635

SHARE-BASED COMPENSATION PLAN - Long term compensation plans ("PS and SAR") (Details)	12 Months Ended
	Dec. 31, 2023 shares item R$ / shares	Dec. 31, 2022 shares R$ / shares	Dec. 31, 2021 shares
SHARE-BASED COMPENSATION PLAN
Number of share-based compensation plans \| item	3
Vesting period	12 months
Time to calculate the average price of shares based on recent trading sessions	90 days
PSO
Number of shares
Opening balance	7,583,185	5,415,754	5,772,356
Granted during of the year	3,391,581	4,152,200	1,906,343
Exercised	(871,208)	(1,474,506)	(1,860,334)
Exercised due to resignation	30,800	175,552	86,196
Abandoned / cancelled due to resignation	344,333	334,711	316,415
Closing balance	9,728,425	7,583,185	5,415,754
Phantom Share Units Psus
Number of shares
Average exercise price \| R$ / shares	R$ 58.07	R$ 48.79
SAR and PLUS \| PSO
SHARE-BASED COMPENSATION PLAN
Required investment, as a percentage of total phantom share options at grant date	5.00%
Required investment, as a percentage of total phantom share options three years after grant date	20.00%
SAR and PLUS \| PSO \| Bottom of range [member]
SHARE-BASED COMPENSATION PLAN
Vesting period	3 years
SAR and PLUS \| PSO \| Top of range [member]
SHARE-BASED COMPENSATION PLAN
Vesting period	5 years

SHARE-BASED COMPENSATION PLAN - Phantom Stock Options Outstanding (Details) - PSO	Dec. 31, 2023 BRL (R$) shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
SHARE-BASED COMPENSATION PLAN
Quantity of outstanding options granted	9,728,425	7,583,185	5,415,754	5,772,356
Exercise date April 1, 2019
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 42.81
Quantity of outstanding options granted	39,461
Exercise date April 1, 2020
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 38.50
Quantity of outstanding options granted	93,619
Exercise date May 1, 2020
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 38.34
Quantity of outstanding options granted	890,542
Exercise date March 1, 2020
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 57.88
Quantity of outstanding options granted	545,861
Grant date April 1, 2021 [Member]
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 64.12
Quantity of outstanding options granted	1,163,149
Grant date July 1, 2021 [Member]
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 67.72
Quantity of outstanding options granted	8,516
Grant date august 2, 2021
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 63.73
Quantity of outstanding options granted	3,969
Grant date October 1, 2021
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 58.05
Quantity of outstanding options granted	2,524
Grant date January 17, 2022
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 55.18
Quantity of outstanding options granted	68,099
Grant date March 1, 2022
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 56.52
Quantity of outstanding options granted	794,178
Grant date April 1, 2022
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 58.64
Quantity of outstanding options granted	2,624,219
Grant date June 2, 2022
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 55.43
Quantity of outstanding options granted	3,789
Grant date August 1, 2022
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 51.00
Quantity of outstanding options granted	3,832
Grant date October 1, 2022 [Member]
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 47.71
Quantity of outstanding options granted	192,605
Grant date September 1, 2022
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 49.69
Quantity of outstanding options granted	15,094
Grant date February 1, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 50.46
Quantity of outstanding options granted	1,328
Exercise date March 1, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 50.59
Quantity of outstanding options granted	1,050,901
Exercise date April 1, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 48.06
Quantity of outstanding options granted	2,152,208
Grant date June 1, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 47.18
Quantity of outstanding options granted	1,842
Grant date July 1, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 44.07
Quantity of outstanding options granted	20,751
Grant date July 10, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 43.86
Quantity of outstanding options granted	9,120
Grant date July 11, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 43.82
Quantity of outstanding options granted	34,231
Grant date October 1, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 45.79
Quantity of outstanding options granted	6,552
Grant date October 3, 2023
SHARE-BASED COMPENSATION PLAN
Fair value on the grant date \| R$	R$ 48.15
Quantity of outstanding options granted	2,035

SHARE-BASED COMPENSATION PLAN - Restricted shares plan (Details)	12 Months Ended
	Dec. 31, 2023 R$ / shares shares
SHARE-BASED COMPENSATION PLAN
Vesting period	12 months
Restricted Stock
SHARE-BASED COMPENSATION PLAN
Lock up period	36 months
Shares Granted	592,749,000
Restricted Stock \| Grant date February 1, 2021
SHARE-BASED COMPENSATION PLAN
Price on grant date	R$ 51.70
Shares Granted \| shares	111,685,000
Restricted Stock \| Grant date February 1, 2022
SHARE-BASED COMPENSATION PLAN
Price on grant date	R$ 53.81
Shares Granted \| shares	113,161,000
Restricted Stock \| Grant date February 1, 2023
SHARE-BASED COMPENSATION PLAN
Price on grant date	R$ 52.00
Shares Granted \| shares	101,164,000
Restricted Stock \| Grant date February 1. 2023 [Member]
SHARE-BASED COMPENSATION PLAN
Price on grant date	R$ 49.58
Shares Granted \| shares	161,355,000
Restricted Stock \| Grant date February 1, 2024
SHARE-BASED COMPENSATION PLAN
Price on grant date	R$ 53.63
Shares Granted	105,384,000

SHARE-BASED COMPENSATION PLAN - Amounts recognized in the financial Statements (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liabilities and Equity
Non-current liabilities, Provision for phantom stock plan	R$ 268,489	R$ 162,117
Equity, Stock options granted	26,744	20,790
Equity, Shares granted		(2,365)
Total effect on equity	26,744	18,425
Statement of income and Equity
Non-current liabilities, Provision for phantom stock plan	(154,318)	(75,542)	R$ (94,897)
Equity, Stock options granted	(8,319)	(5,335)	(4,843)
Equity, Shares granted		2,365
Total Equity impact	(8,319)	(2,970)	(4,843)
Total income statement effect	R$ (162,637)	R$ (78,512)	R$ (99,740)
PSO \| Bottom of range [member]
SHARE-BASED COMPENSATION PLAN
Total shareholder return	75.00%
PSO \| Top of range [member]
SHARE-BASED COMPENSATION PLAN
Total shareholder return	125.00%

LIABILITIES FOR ASSETS ACQUISITIONS AND ASSOCIATES (Details) R$ in Thousands, $ in Thousands					1 Months Ended
	Jun. 22, 2023 BRL (R$)	Jun. 22, 2023 USD ($)	Jun. 22, 2022 BRL (R$)	Jun. 22, 2022 USD ($)	Mar. 31, 2018 BRL (R$)	Aug. 31, 2014 BRL (R$)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2022 BRL (R$)
LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES
Assets acquisition								R$ 1,758,365
Business combination							187,187	303,957
Liabilities for assets acquisitions and associates							187,187	2,062,322
Current							93,405	1,856,763
Non-current							93,782	205,559
Facepa
LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES
Business combination							25,924	42,655
Total consideration for assets acquisition					R$ 307,876
Payment amount for asset acquisition					R$ 267,876
VFFIP
LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES
Business combination							161,263	261,302
Total consideration for assets acquisition						R$ 528,941
Payment amount for asset acquisition						R$ 44,998
Vitex/Parkia
LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES
Assets acquisition								R$ 1,758,365
Additional payment for adjusted price	R$ 1,615,140	$ 337,000
Vitex/Parkia \| Purchase and sale agreement, first installment
LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES
Total consideration for assets acquisition			R$ 3,444,255	$ 667,000
Payment amount for asset acquisition			R$ 1,704,054	$ 330,000

LONG-TERM COMMITMENTS (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Capital commitments [abstract]
Total contractual obligation assumed	R$ 14,606,380	R$ 14,875,422

SHAREHOLDERS' EQUITY - Share capital (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Jan. 26, 2024	Feb. 28, 2023	Dec. 31, 2022
SHAREHOLDERS' EQUITY
Share capital	R$ 9,235,546			R$ 9,235,546
Quantity of ordinary shares	1,324,117,615,000			1,361,263,584,000
Percentage of ordinary shares	100.00%			100.00%
SUZB3 common shares quoted (per share)	R$ 55.63			R$ 48.24
Controlling Shareholders
SHAREHOLDERS' EQUITY
Quantity of ordinary shares	621,938,492,000			622,934,179,000
Percentage of ordinary shares	46.97%			45.76%
Suzano Holding
SHAREHOLDERS' EQUITY
Quantity of ordinary shares	367,612,329,000			367,612,329,000
Percentage of ordinary shares	27.76%			27.01%
Controller
SHAREHOLDERS' EQUITY
Quantity of ordinary shares	196,065,636,000			195,064,797,000
Percentage of ordinary shares	14.81%			14.33%
Management and related persons
SHAREHOLDERS' EQUITY
Quantity of ordinary shares	32,105,783,000			34,102,309,000
Percentage of ordinary shares	2.42%			2.51%
Alden Fundo de Investimento em Acoes
SHAREHOLDERS' EQUITY
Quantity of ordinary shares	26,154,744,000			26,154,744,000
Percentage of ordinary shares	1.98%			1.91%
Other shareholders
SHAREHOLDERS' EQUITY
Quantity of ordinary shares	667,413,523,000			686,417,836,000
Percentage of ordinary shares	50.40%			50.43%
Share Capital
SHAREHOLDERS' EQUITY
Share capital	R$ 9,269,281
Public offering expenses	R$ 33,735
Share Capital \| Ordinary shares [member]
SHAREHOLDERS' EQUITY
Quantity of ordinary shares	1,324,117,615	1,304,117,615
Treasury shares
SHAREHOLDERS' EQUITY
Quantity of ordinary shares	34,765,600,000		1,324,117,615	51,911,569,000
Percentage of ordinary shares	2.63%			3.81%

SHAREHOLDERS' EQUITY - Dividends and reserve calculations (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of classes of share capital [abstract]
Minimum mandatory dividend, as a percentage of adjusted net income	25.00%
Minimum mandatory dividend, as a percentage of consolidated operating cash generation	10.00%
Accounting EBITDA	R$ 19,537,398	R$ 29,630,671	R$ 25,221,854
Non-recurring and/or non-cash items	1,264,428	1,435,769
Adjusted EBITDA	18,272,970	28,194,902
Capex Maintenance (Sustain)	6,706,367	5,631,234
GCO = Adjusted EBTIDA - Capex Maintenance	11,566,603	22,563,668
Proposed minimum mandatory dividends		2,256,367	R$ 913,111
Dividends (10%) - Art. 26, "c" of the Bylaws	1,156,660	2,256,367
Advance/interim dividends	1,500,000	2,350,000
Withholding income tax	(190,119)
Interest on own capital distributed in excess(2)	(153,221)
Additional dividends		R$ (93,633)

SHAREHOLDERS' EQUITY - Dividends - additional disclosures (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of classes of share capital [abstract]
Amount of interim dividends declared	R$ 1,500,000	R$ 2,350,000
Mandatory minimum dividends		2,256,367	R$ 913,111
Additional dividends		93,633
Amount of supplementary dividends approved		R$ 799,903

SHAREHOLDERS' EQUITY - Income reserves (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
SHAREHOLDERS' EQUITY
Percentage of limited legal reserve plus capital reserve of share capital	30.00%
Legal Reserve
SHAREHOLDERS' EQUITY
Percentage of remaining balance of net income	5.00%
Percentage of limited balance of share capital	20.00%
Reserve balance	R$ 1,847,109	R$ 1,404,099
Legal Reserve \| Top of range [member]
SHAREHOLDERS' EQUITY
Percentage of limited balance of share capital	20.00%
Capital increase reserve
SHAREHOLDERS' EQUITY
Percentage of limited balance of share capital	80.00%
Reserve balance	R$ 15,670,952	19,732,050
Capital increase reserve \| Top of range [member]
SHAREHOLDERS' EQUITY
Percentage of remaining balance of net income	90.00%
Percentage of limited balance of share capital	80.00%
Special statutory reserve
SHAREHOLDERS' EQUITY
Percentage of limited balance of share capital	20.00%
Reserve balance	R$ 1,887,576	2,192,442
Special statutory reserve \| Top of range [member]
SHAREHOLDERS' EQUITY
Percentage of remaining balance of net income	10.00%
Percentage of limited balance of share capital	20.00%
Tax incentives
SHAREHOLDERS' EQUITY
Reserve balance	R$ 998,237	R$ 879,278
Investment reserve [Member]
SHAREHOLDERS' EQUITY
Reserve balance	R$ 14,972,324

SHAREHOLDERS' EQUITY - Other reserves (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SHAREHOLDERS' EQUITY
Beginning balances	R$ 33,166,365	R$ 15,175,130	R$ 7,337,378
Gain (loss) on conversion of financial statements and on foreign investments	4,707	(16,035)	46,006
Ending balances	44,810,300	33,166,365	15,175,130
Other reserves
SHAREHOLDERS' EQUITY
Beginning balances	1,719,516	2,114,907	2,129,944
Actuarial gain (loss)	(84,828)	(7,608)
Gain (loss) on conversion of financial asset and fair value	(865)	(5,681)
Gain (loss) on conversion of financial statements and on foreign investments	5,178	(249,093)
Partial realization of deemed cost, net of taxes	(100,705)	(133,009)
Ending balances	1,538,296	1,719,516	2,114,907
Debenture conversion 5th issue
SHAREHOLDERS' EQUITY
Beginning balances	(45,746)	(45,746)
Ending balances	(45,746)	(45,746)	(45,746)
Actuarial loss
SHAREHOLDERS' EQUITY
Beginning balances	(144,799)	(137,191)
Actuarial gain (loss)	(84,828)	(7,608)
Ending balances	(229,627)	(144,799)	(137,191)
Exchange variation and fair value of financial assets
SHAREHOLDERS' EQUITY
Beginning balances	2,163	7,844
Gain (loss) on conversion of financial asset and fair value	(865)	(5,681)
Ending balances	1,298	2,163	7,844
Exchange variation on conversion of financial statements of foreign subsidiaries
SHAREHOLDERS' EQUITY
Beginning balances	3,218	252,311
Gain (loss) on conversion of financial statements and on foreign investments	5,178	(249,093)
Ending balances	8,396	3,218	252,311
Deemed Cost
SHAREHOLDERS' EQUITY
Beginning balances	1,904,680	2,037,689
Partial realization of deemed cost, net of taxes	(100,705)	(133,009)
Ending balances	R$ 1,803,975	R$ 1,904,680	R$ 2,037,689

SHAREHOLDERS' EQUITY - Treasury shares - Summary (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jan. 26, 2024	Feb. 28, 2023	Dec. 31, 2021
SHAREHOLDERS' EQUITY
Number of shares held in treasury	34,765,600	51,911,569			12,042,004
Average cost per share	R$ 42.69	R$ 40.84			R$ 18.13
Historical value	R$ 1,484,014	R$ 2,120,324			R$ 218,265
Market value	1,934,010	2,504,214			R$ 656,530
Market value of shares repurchased, including transaction costs	R$ 880,914	R$ 1,904,424
Treasury shares canceled
SHAREHOLDERS' EQUITY
Number of shares canceled			20,000,000	37,145,969
Repurchase Program
SHAREHOLDERS' EQUITY
Number of shares authorized for repurchase	20,000,000
Shares repurchased, average cost per share	R$ 44.05
Total amount of repurchased shares	R$ 880,914

SHAREHOLDERS' EQUITY - Treasury shares - Changes (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Quantity
Balance, beginning of the year	51,911,569	12,042,004
Repurchase	20,000,000	40,000,000
Stock exercised During Period, Shares		(130,435)
Stock canceled During Period, Shares	(37,145,969)
Balance, end of the year	34,765,600	51,911,569
Average cost per share
Balance, beginning of the year	R$ 40.84	R$ 18.13
Realization in the restricted shares plan		18.13
Repurchase	44.05	47.61
Weighted Average Price Per Share of Treasury Shares Canceled During the Period	40.84
Balance, end of the year	R$ 42.69	R$ 40.84
Historical value
Balance, beginning of the year	R$ 2,120,324	R$ 218,265
Realization in the restricted shares plan		2,365
Shares repurchased	880,914	1,904,424
Stock Canceled During The Period Value	(1,517,224)
Balance, end of the year	1,484,014	2,120,324
Market value
Balance, beginning of the year	2,504,214	656,530
Realization in the restricted shares plan		8,156
Repurchase	880,914	1,904,424
Stock Canceled During Period, Market Value	(1,570,532)
Balance, end of the year	R$ 1,934,010	R$ 2,504,214

SHAREHOLDERS' EQUITY - Distribution of results (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
SHAREHOLDERS' EQUITY
Distribution of results	R$ 14,084,848	R$ 23,381,617
Reserve balances	35,402,942	24,226,294
Realization of deemed cost, net of taxes
SHAREHOLDERS' EQUITY
Distribution of results	(100,705)	(133,009)
Tax incentive reserve
SHAREHOLDERS' EQUITY
Distribution of results	118,959	66,871
Reserve balances	R$ 998,237	879,278
Legal Reserve
SHAREHOLDERS' EQUITY
Limit on share capital %	20.00%
Distribution of results	R$ 443,010	1,169,080
Reserve balances	R$ 1,847,109	1,404,099
Capital increase reserve
SHAREHOLDERS' EQUITY
Limit on share capital %	80.00%
Distribution of results	R$ 10,911,226	17,937,885
Reserve balances	R$ 15,670,952	19,732,050
Special statutory reserve
SHAREHOLDERS' EQUITY
Limit on share capital %	20.00%
Distribution of results	R$ 1,212,358	1,993,098
Reserve balances	1,887,576	2,192,442
Investment reserve [Member]
SHAREHOLDERS' EQUITY
Reserve balances	14,972,324
Capital reserves
SHAREHOLDERS' EQUITY
Reserve balances	26,744	18,425
Unclaimed dividend forfeited
SHAREHOLDERS' EQUITY
Distribution of results		(2,308)
Reserve for the distribution of dividends
SHAREHOLDERS' EQUITY
Distribution of results		2,256,367
Reserve balances
Proposed additional dividend
SHAREHOLDERS' EQUITY
Distribution of results		93,633
Proposed minimum mandatory dividends
SHAREHOLDERS' EQUITY
Distribution of results	R$ 1,500,000

EARNINGS (LOSS) PER SHARE - Basic (Details) - BRL (R$) R$ / shares in Units, shares in Thousands, R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic earnings per share
Resulted of the year attributable to controlling shareholders'	R$ 14,084,848	R$ 23,381,617	R$ 8,626,386
Weighted average number of shares in the year - in thousands	1,330,020	1,361,264	1,361,264
Weighted average treasury shares - in thousands	(32,827)	(31,043)	(12,042)
Weighted average number of outstanding shares - in thousands	1,297,193	1,330,221	1,349,222
Basic earnings (loss) per common share - R$	R$ 10.85794	R$ 17.57724	R$ 6.39360

EARNINGS (LOSS) PER SHARE - Diluted (Details) - BRL (R$) R$ / shares in Units, shares in Thousands, R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Diluted earnings per share
Resulted of the year attributable to controlling shareholders'	R$ 14,084,848	R$ 23,381,617	R$ 8,626,386
Weighted average number of shares duing the year (except treasury shares) - in thousands	1,297,193	1,330,221	1,349,222
Average number of potential shares (stock options) - in thousands	487	317	327
Weighted average number of shares (diluted) - in thousands	1,297,680	1,330,538	1,349,549
Diluted earnings (loss) per common share - R$	R$ 10.85387	R$ 17.57305	R$ 6.39205

NET FINANCIAL RESULT (Details) - BRL (R$) R$ in Thousands	12 Months Ended
NET FINANCIAL RESULT (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial expenses
Interest expense on borrowings	R$ (3,636,730)	R$ (3,648,330)	R$ (3,188,654)
Early settlement premium expenses			(260,289)
Amortization Of Debt Issuance Cost	(67,353)	(69,881)	(107,239)
Financial Expenses, Interest Expense on Lease Liabilities	(441,596)	(433,613)	(560,619)
Amortization of fair value adjustment		(18,887)	(5,543)
Finance Cost, Before Exchange Differences on Translation	(4,659,162)	(4,590,370)	(4,221,301)
Other finance cost	(513,483)	(419,659)	(98,957)
Financial income
Cash and cash equivalents and marketable securities	1,668,408	818,780	205,574
Amortization of fair value adjustment on business combination			9,110
Other	157,241	148,230	57,872
Financial income	1,825,649	967,010	272,556
Results from derivative financial instruments
Income	10,149,730	11,969,288	5,582,352
Losses on change in fair value of derivatives	(4,623,016)	(5,207,721)	(7,180,014)
Results from derivative financial instruments	5,526,714	6,761,567	(1,597,662)
Monetary and exchange rate variations, net
Exchange rate variation on loans, financing and debentures	4,185,675	3,949,020	(4,847,320)
Leases	180,112	186,241	(194,415)
Other assets and liabilities	(1,278,060)	(840,668)	1,240,908
Monetary and exchange rate variations, net	3,087,727	3,294,593	(3,800,827)
Finance income (cost)	5,780,928	6,432,800	R$ (9,347,234)
Capitalized loan costs	1,160,364	359,407
Transaction costs for loans and financing	19	232
Reclassification to biological assets	R$ 223,055	R$ 178,429

NET SALES (Details) - BRL (R$) R$ in Thousands	12 Months Ended
NET SALES (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Gross sales	R$ 47,601,020	R$ 59,550,424	R$ 48,479,827
Sales deductions
Returns and cancelations	(155,950)	(91,291)	(69,764)
Discounts and rebates	(5,526,032)	(7,459,520)	(5,717,412)
Total	41,919,038	51,999,613	42,692,651
Taxes on sales	(2,163,463)	(2,168,667)	(1,727,220)
Net sales	R$ 39,755,575	R$ 49,830,946	R$ 40,965,431

SEGMENT INFORMATION - Operating segment results (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEGMENT INFORMATION
Net sales	R$ 39,755,575	R$ 49,830,946	R$ 40,965,431
EBITDA	19,537,398	29,630,671	25,221,854
Depreciation and amortisation expense	(7,321,110)	(7,407,890)	(7,041,663)
Operating profit before net financial income ("EBIT")	R$ 12,216,288	R$ 22,222,781	R$ 18,180,191
EBITDA margin (%)	49.14%	59.46%	61.57%
Domestic (Brazil)
SEGMENT INFORMATION
Net sales	R$ 8,863,292	R$ 8,524,638	R$ 6,719,395
Foreign
SEGMENT INFORMATION
Net sales	30,892,283	41,306,308	34,246,036
Asia
SEGMENT INFORMATION
Net sales	13,660,165	18,298,105	15,996,747
Europe
SEGMENT INFORMATION
Net sales	9,003,272	13,093,824	10,795,958
North America
SEGMENT INFORMATION
Net sales	6,158,439	7,664,359	6,119,182
South and Central America
SEGMENT INFORMATION
Net sales	1,995,782	2,233,637	1,259,308
Africa
SEGMENT INFORMATION
Net sales	74,625	16,383	74,841
Pulp
SEGMENT INFORMATION
Net sales	30,677,265	41,384,322	34,715,208
EBITDA	R$ 16,052,028	R$ 26,098,309	R$ 22,735,409
EBITDA margin (%)	52.33%	63.06%	65.49%
Pulp \| Domestic (Brazil)
SEGMENT INFORMATION
Net sales	R$ 2,144,199	R$ 2,665,746	R$ 2,338,810
Pulp \| Foreign
SEGMENT INFORMATION
Net sales	28,533,066	38,718,576	32,376,398
Pulp \| Asia
SEGMENT INFORMATION
Net sales	13,588,032	18,294,046	15,952,786
Pulp \| Europe
SEGMENT INFORMATION
Net sales	8,701,141	12,768,321	10,477,292
Pulp \| North America
SEGMENT INFORMATION
Net sales	5,682,010	7,055,625	5,694,273
Pulp \| South and Central America
SEGMENT INFORMATION
Net sales	558,601	592,360	233,061
Pulp \| Africa
SEGMENT INFORMATION
Net sales	3,282	8,224	18,986
Paper
SEGMENT INFORMATION
Net sales	9,078,310	8,446,624	6,250,223
EBITDA	R$ 3,485,370	R$ 3,532,362	R$ 2,486,445
EBITDA margin (%)	38.39%	41.82%	39.78%
Paper \| Domestic (Brazil)
SEGMENT INFORMATION
Net sales	R$ 6,719,093	R$ 5,858,892	R$ 4,380,585
Paper \| Foreign
SEGMENT INFORMATION
Net sales	2,359,217	2,587,732	1,869,638
Paper \| Asia
SEGMENT INFORMATION
Net sales	72,133	4,059	43,961
Paper \| Europe
SEGMENT INFORMATION
Net sales	302,131	325,503	318,666
Paper \| North America
SEGMENT INFORMATION
Net sales	476,429	608,734	424,909
Paper \| South and Central America
SEGMENT INFORMATION
Net sales	1,437,181	1,641,277	1,026,247
Paper \| Africa
SEGMENT INFORMATION
Net sales	R$ 71,343	R$ 8,159	R$ 55,855

SEGMENT INFORMATION - Net sales by product (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEGMENT INFORMATION
Net sales	R$ 39,755,575	R$ 49,830,946	R$ 40,965,431
Market pulp
SEGMENT INFORMATION
Net sales	R$ 30,677,265	R$ 41,384,322	34,715,208
Market pulp \| CHINA
SEGMENT INFORMATION
Percentage of total net sales	41.36%	42.12%
Market pulp \| UNITED STATES
SEGMENT INFORMATION
Percentage of total net sales	15.32%	14.08%
Fluff pulp
SEGMENT INFORMATION
Percentage of total net sales	0.78%	0.80%
Printing and writing paper
SEGMENT INFORMATION
Net sales	R$ 7,567,320	R$ 6,912,984	5,107,960
Printing and writing paper \| UNITED STATES
SEGMENT INFORMATION
Percentage of total net sales	23.68%	23.49%
Printing and writing paper \| PERU
SEGMENT INFORMATION
Percentage of total net sales	19.49%	9.04%
Printing and writing paper \| ARGENTINA
SEGMENT INFORMATION
Percentage of total net sales		19.81%
Tissue
SEGMENT INFORMATION
Percentage of total net sales	5.14%	2.30%
Paperboard
SEGMENT INFORMATION
Net sales	R$ 1,417,075	R$ 1,421,338	1,091,588
Other
SEGMENT INFORMATION
Net sales	R$ 93,915	R$ 112,302	R$ 50,675

SEGMENT INFORMATION - Goodwill based on expected future profitability (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022
SEGMENT INFORMATION
Goodwill based on expected future profitability	R$ 8,187,242	R$ 8,016,383
Pulp
SEGMENT INFORMATION
Goodwill based on expected future profitability	7,897,051	7,897,051
Paper
SEGMENT INFORMATION
Goodwill based on expected future profitability	R$ 290,191	R$ 119,332

RESULTS BY NATURE (Details) - BRL (R$) R$ in Thousands	12 Months Ended
RESULTS BY NATURE (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cost of sales
Personnel expenses	R$ (1,450,428)	R$ (1,467,896)	R$ (1,174,460)
Costs of raw materials, materials and services	(10,981,883)	(11,463,862)	(8,731,670)
Logistics cost	(4,341,369)	(4,795,161)	(4,328,046)
Depreciation, depletion and amortization	(6,718,474)	(6,406,610)	(5,988,248)
Other	(1,584,521)	(687,759)	(393,164)
Total cost of sales	(25,076,675)	(24,821,288)	(20,615,588)
Cost of idle capacity and maintenance downtime	650,592	525,882
Selling expenses
Personnel expenses	(281,673)	(244,681)	(219,590)
Services	(173,494)	(146,184)	(121,568)
Logistics cost	(1,067,031)	(1,065,416)	(947,551)
Depreciation and amortization	(952,033)	(951,626)	(944,361)
Other	(122,146)	(75,287)	(58,652)
Total selling expenses	(2,596,377)	(2,483,194)	(2,291,722)
General and Administrative expenses
Personnel expenses	(1,172,538)	(1,039,733)	(984,513)
Services	(406,001)	(378,986)	(330,727)
Depreciation and amortization	(118,771)	(101,764)	(103,867)
Other	(225,918)	(189,284)	(158,802)
Total General and Administrative expenses	(1,923,228)	(1,709,767)	(1,577,909)
Other operating (expenses) income net
Rents and leases	3,971	2,164	3,321
Result from sale of other products, net	79,046	58,880	31,865
Result from sale and disposal of property, plant and equipment, intangible and biological assets, net	(331,285)	(509)	413,052
Result on fair value adjustment of biological assets	1,989,831	1,199,759	763,091
Depletion and amortization	468,168	52,110	(5,187)
Tax credits - gains in tax lawsuits (exclusion of ICMS from the PIS/COFINS calculation basis)		(1,324)	441,880
Provision for judicial liabilities	(167,563)	(156,243)
Other operating income, net	2,076,372	1,121,716	1,648,067
Cost of idle capacity and maintenance downtime	650,592	525,882
Amortization of fair value adjustment		18,887	5,543
Tax Credit	34,204	(33,121)	45
Provision for legal fees	R$ 2,076,372	R$ 1,121,716	R$ 1,648,067

INSURANCE COVERAGE (Details) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 BRL (R$)
INSURANCE COVERAGE
Maximum insurance coverage for operational risks	$ 1,000,000	R$ 4,841,300
Maximum insurance coverage for civil general liabilities	20,000	96,826
Maximum coverage for domestic transportation insurance policy		60,000
Maximum coverage for international transportation insurance policy	$ 75,000	R$ 363,098
Insurance coverage term for domestic and international transportation	18 months	18 months

SUBSEQUENT EVENTS (Details) - BRL (R$)	Jan. 26, 2024	Dec. 31, 2023	Feb. 28, 2023	Dec. 31, 2022
Events subsequent to the reporting date
Share capital		R$ 9,235,546,000		R$ 9,235,546,000
Quantity of ordinary shares		1,324,117,615,000		1,361,263,584,000
Ordinary shares [member] \| Not later than 18 months
Events subsequent to the reporting date
Share buyback program	40,000,000
Share Capital
Events subsequent to the reporting date
Share capital		R$ 9,269,281,000
Share Capital \| Ordinary shares [member]
Events subsequent to the reporting date
Quantity of ordinary shares	1,304,117,615	1,324,117,615
Treasury shares canceled
Events subsequent to the reporting date
Number of shares canceled	20,000,000		37,145,969
Average cost of canceled treasury shares	R$ 42.69
Total amount of canceled treasury shares	853,725,000
Treasury shares canceled \| Share Capital
Events subsequent to the reporting date
Share capital	R$ 9,269,281,000