SAO PAULO, Feb 12 (Reuters) - Brazilian pulp maker
Suzano posted on Wednesday a higher-than-expected net loss in
last year's fourth quarter to settle at 6.7 billion reais ($1.16
billion), but the company beat market expectations for core
profit and revenue during the period.
Analysts polled by LSEG expected a 4.9 billion reais
loss for the October-to-December period for Suzano,
the world's largest pulp manufacturer. Its net loss compares to
a 4.5 billion reais profit in the same quarter a year earlier.
Fourth quarter net revenue, meanwhile, stood at 14.2
billion reais, up 37% from the year-ago period and coming in
above the 12.9 billion reais expected by analysts.
The company's adjusted earnings before interest, taxes,
depreciation and amortization (EBITDA), a closely watched metric
since it excludes Suzano's volatile financial expenses, came in
slightly above expectations.
Suzano also saw its adjusted EBITDA rise 44%
year-on-year to reach 6.48 billion reais for the three month
period, compared to the 6.35 billion reais expected by analysts.
The firm said the larger adjusted EBITDA came from
increased sales and a weaker real against the U.S. dollar, which
was partially offset by higher production, administrative and
sales costs.
Pulp sales, Suzano's main business, rose 19%
year-on-year to about 3.3 million metric tons in the quarter,
while paper sales increased 11% to total 430,000 tons.
Pulp is used to make a variety of paper products,
including envelopes, paper cups, napkins and cardboard.
($1 = 5.7632 reais)