Brazil's Votorantim profit soars after Fibria stake sale [Reuters]
Suzano S.A. American Depositary Shares (each representing One Ordinary Share) (SUZ)
Company Research
Source: Reuters
Brazil's Votorantim profit soars after Fibria stake sale SAO PAULO, May 17 (Reuters) - Votorantim SA, one of Brazil’s biggest industrial conglomerates, on Friday posted a steep rise in first-quarter net profit and a sharp decline in debt, as a result of the partial sale of a stake in pulp maker Fibria SA . Net income came in at 4.4 billion reais ($1.09 billion) in the period, up from 150 million reais a year ago. Votorantim sold a stake in pulp maker Fibria to Suzano Papel e Celulose SA for roughly 8 billion reais in a deal concluded in January. It still holds a 5.5% stake in Suzano. The group’s net debt ended March at 10.2 billion reais, down 23% from the end of 2018. This is equivalent to 1.46 times adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and is below the level of 1.91 times EBITDA in December. In a statement, Chief Executive João Miranda said Votorantim has reached a comfortable leverage ratio, leaving room for acquisitions. The group is mu
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News
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- Suzano 2023 annual report on Form 20-FBusiness Wire
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- Suzano Ventures invests up to US$5 million into Bioform Technologies to further develop bio-based plastic alternativesBusiness Wire
SUZ
Earnings
- 8/3/23 - Beat
SUZ
Sec Filings
- 5/10/24 - Form 6-K
- 5/9/24 - Form 6-K
- 5/9/24 - Form 6-K
- SUZ's page on the SEC website