Suzano S.A. (NYSE:SUZ) Q3 2024 Earnings Conference Call October 25, 2024 9:00 AM ET

Company Participants

Beto Abreu - CEO
Fabio Oliveira - Executive Officer, Paper and Packaging
Leonardo Grimaldi - Executive Officer, Commercial Pulp and Logistics
Marcelo Bacci - CFO and IRO
Aires Galhardo - Executive Officer, Pulp Operation

Conference Call Participants

Jon Brandt - HSBC
Caio Ribeiro - Bank of America
Daniel Sasson - Itaú BBA
Marcio Farid - Goldman Sachs
Rafael Barcellos - Bradesco BBI
Lucas Laghi - XP

Operator

Ladies and gentlemen, thank you for holding, and welcome to Suzano’s Conference Call to discuss the results for the Third Quarter of 2024. We would like to inform that all participants will be in a listen-only mode during the presentation that will be addressed by the CEO, Mr. Beto Abreu and other executive officers.

This call will be presented in English with simultaneous translation to Portuguese. To change the audio, you can press the globe icon on the lower right side of your Zoom screen and then choose to enter the Portuguese Room. After that, you can select mute original audio.

Before proceeding, please be aware that any forward-looking statements are based on the beliefs and assumptions of Suzano’s management and known information currently available to the company. They involve risks, uncertainties, and assumptions because they relate to future events and therefore, depend on circumstances that may or may not occur in the future.

You should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of Suzano's and could cause results to differ materially from those expressed in such forward-looking statements.

Now, I will turn the conference over to Mr. Beto Abreu. Please, you may begin your conference sir.

Beto Abreu

Thank you. Hello, everyone. Thank you for attending our call for the third quarter results. I will start with the highlights. So, let me start with sales. Sales volumes improved as you saw in our business. And here, I want to highlight that was a very well-defined and commercial strategy from the team.

This strong sales with a better FX allowed us a strong EBITDA of BRL6.5 billion, despite the higher cash costs. Indeed, the cash cost was higher than the previous quarter and in the previous quarter in the last year, but that was planned, as you know.

And I want to reinforce here that considering the performance that we have been seeing at the Ribas in the ramp-up, considering the efficiency level, which is higher than we planned, I have to say that the such peak of higher cost is already behind us. So, we will see further detail during the presentation.