Revenue by Segment

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Sustainable Packaging (Corrugated Cardboard)	1.03B	951.88M	926.28M	935.76M	902.84M
Paper for Sustainable Packaging (Paper)	645.71M	596.01M	587.23M	590.23M	527.49M
Forestry RS	11.72M	7.46M	80.74M	160.68M	175.50M
Total	1.69B	1.56B	1.59B	1.69B	1.61B

Revenue by Geography

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Brazil	1.53B	1.42B	1.41B	1.44B	1.36B
Saudi Arabia	-	-	22.12M	24.51M	16.52M
Argentina	-	-	16.59M	21.92M	28.17M
Pakistan	-	-	15.48M	21.20M	10.07M
South Africa	-	-	9.10M	11.32M	8.25M
Portugal	-	-	9.01M	10.80M	25.54M
Peru	-	-	4.78M	9.13M	7.56M
Chile	-	-	11.37M	12.71M	7.97M
Paraguay	-	-	10.70M	12.39M	9.44M
China	-	-	25.66M	40.22M	26.49M
Uruguay	-	-	3.39M	7.49M	-
Germany	-	-	13.16M	14.06M	17.87M
Bolivia	-	-	2.85M	6.48M	-
Other Countries	-	-	14.19M	19.10M	21.18M
The United States of America	-	-	-	-	8.58M
Foreign	153.74M	132.92M	-	-	-
Mexico	-	-	7.57M	10.58M	7.59M
Japan	-	-	7.49M	10.52M	-
France	-	-	-	-	13.54M
The Netherlands	-	-	-	-	10.05M
India	-	-	4.70M	7.84M	18.32M
Spain	-	-	2.81M	5.90M	12.39M
Total	1.69B	1.56B	1.59B	1.69B	1.61B