Suzano Cash Flow Statement

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
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
Net Income	13,438	-7,045	14,106	23,395	8,636
Depreciation & Amortization	11,297	9,224	7,321	7,438	7,083
Other Adjustments	-3,670	20,536	-3,274	-3,089	7,517
Change in Receivables	1,587	-808.79	2,155	-3,267	-3,394
Changes in Inventories	-216.36	-863.65	-48.67	-968	-654.76
Changes in Accounts Payable	6.63	2,165	463	1,533	1,363
Changes in Accrued Expenses	-91.5	364.82	73.1	83.74	97.79
Changes in Income Taxes Payable	384.23	296.17	329.56	422.59	271.7
Changes in Other Operating Activities	19,187	20,487	16,700	21,155	17,559
Operating Cash Flow	18,152	20,604	17,315	21,641	17,637
Operating Cash Flow Growth	-11.90%	18.99%	-19.99%	22.70%	34.38%
Capital Expenditures	-12,492	-16,371	-17,452	-14,749	-5,958
Sale of Property, Plant & Equipment	122.73	167.98	183.58	251.18	1,411
Purchases of Intangible Assets	-82.49	-162.04	-104.93	-90.5	-285.28
Purchases of Investments	2,942	205.95	-5,296	67.43	-5,217
Payments for Business Acquisitions	-	-2,596	-2,676	-2,090	-6.52
Proceeds from Business Divestments	-	19.11	5	10.59	-
Other Investing Activities	-322.58	-1,732	-732.77	-422.38	-303.04
Investing Cash Flow	-9,833	-20,513	-26,035	-17,016	-10,359
Long-Term Debt Issued	23,872	15,693	10,945	1,336	16,992
Long-Term Debt Repaid	-23,801	-10,736	-5,515	-3,562	-16,482
Net Long-Term Debt Issued (Repaid)	70.46	4,957	5,430	-2,226	510.4
Repurchase of Common Stock	-191.92	-2,807	-880.91	-1,904	-
Net Common Stock Issued (Repurchased)	-191.92	-2,807	-880.91	-1,904	-
Common Dividends Paid	-2,208	-1,625	-192.53	-4,151	-9.68
Other Financing Activities	509.99	-609.05	3,442	174.34	-2,075
Financing Cash Flow	-1,820	-83.77	7,799	-8,107	-1,574
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-338.89	665.03	-239.13	-602.48	1,051
Net Cash Flow	6,500	672.95	-1,160	-4,085	6,756
Free Cash Flow	5,660	4,233	-136.66	6,892	11,679
Free Cash Flow Growth	33.70%	-	-	-40.99%	41.93%
FCF Margin	11.29%	8.93%	-0.34%	13.83%	28.51%
Free Cash Flow Per Share	4.57	3.35	-0.11	-	8.65
Levered Free Cash Flow	31,583	13,185	26,901	36,071	28,898
Unlevered Free Cash Flow	29,026	41,522	21,729	40,426	37,096

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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