Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
net debt to adjusted EBITDAfinancial
Net debt to adjusted EBITDA is a leverage ratio that compares a company’s net debt (total interest-bearing debt minus cash) to its recurring operating earnings after removing one-off items. Think of it like how many years of steady take-home pay the business would need to pay off its outstanding debt; investors use it to gauge debt burden, financial risk and relative creditworthiness, with lower ratios generally indicating a safer balance sheet.
hedging policiesfinancial
Hedging policies are a company’s written rules about using financial tools to reduce the risk that changes in prices, interest rates or currencies will hurt its profits or cash flow. For investors, these policies act like an insurance plan or a price-lock strategy: they can smooth earnings and protect cash forecasts, but they also limit upside if markets move favorably and add costs that affect returns.
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SAO PAULO--(BUSINESS WIRE)--
Suzano, the world’s largest pulp producer, announces its results for the second quarter of 2026 (2Q26), reporting higher prices, stronger volumes and improvements in Adjusted EBITDA and operating cash generation compared to the previous quarter. The quarterly results reflect the competitiveness and resilience of Suzano’s operations in a quarter marked by foreign exchange headwinds and pressure on input costs driven by higher oil prices affecting the industry as a whole.
Suzano sold 3.3 million tonnes of pulp and paper combined in 2Q26, comprising 2.9 million tonnes of pulp and 406 thousand tonnes of paper across the packaging, printing and writing, specialty and tissue segments.Net revenue totalled R$11.6 billion and adjusted EBITDA reached R$4.7 billion, both above the levels recorded in the previous quarter.Operating cash generation reached R$2.9 billion, while net income totalled R$1.8 billion in 2Q26.
Despite ongoing cost pressures, the cash cost of pulp production (excluding downtime) remained broadly stable year-on-year at R$843 per tonne. Suzano also maintains hedging policies to mitigate Brent price volatility.
Suzano’s leverage, measured by the ratio of net debt to adjusted EBITDA, ended the quarter at 3.4 times in USD. The company remains focused on deleveraging, supported by cash generation from its operations, efficiency improvement and capital allocation discipline.
“We have delivered a solid second quarter in a volatile market environment. We remain focused on operational efficiency and deleveraging, which will strengthen our resilience and the company’s competitiveness. At the same time, we will focus on capturing value from the investments already made, creating sustainable value for our stakeholders,” said Beto Abreu, CEO of Suzano.
Following the end of the quarter, Suzano completed the acquisition of a 51% stake in Arbex, the global tissue company formed with Kimberly-Clark, with cash payment of US$1.3 billion. Arbex began operations on July 1, 2026 and is focused on manufacturing, marketing and distributing consumer and professional tissue products in over 70 countries. The company comprises 22 mills across 14 markets. Arbex’s results will be consolidated into Suzano’s financial statements from the third quarter of 2026 onwards.
