Suzano tightens net debt target to USD 11bn and cuts 2026 capex 18%
Suzano has tightened its deleveraging target to USD 11bn net debt and leverage below 2.5x net debt/EBITDA, from a previous USD 12bn goal, after ending the second quarter of 2026 with net debt of USD 12.8bn and leverage of 3.4x. The pulp producer will cut 2026 capital expenditure to USD 2.1bn (BRL 10.9bn), about 18% below 2025, pay only the minimum mandatory dividend, be more selective on buybacks and review sales of non-core assets. The targets were set out in a presentation for the J. Safra Investment Conference on 22 September 2026.
Why this mattersA tighter debt target and capex cut at a top global pulp producer signals caution as new Latin American and Chinese capacity threatens pulp prices and margins.
- Net debt target tightened to USD 11bn and leverage to below 2.5x net debt/EBITDA, from a previous USD 12bn goal.
- Net debt was USD 12.8bn and leverage 3.4x at the end of the second quarter of 2026.
- 2026 capital expenditure is projected at USD 2.1bn (BRL 10.9bn), about 18% below the USD 2.6bn (BRL 13.3bn) spent in 2025.
- Of the 2026 capex, USD 1.4bn (BRL 7.3bn) is for maintenance of existing operations.
- While deleveraging, Suzano will pay only the minimum mandatory dividend and be more selective on share buybacks.
- Revenue for the 12 months to June 2026 was about USD 9bn with adjusted EBITDA of USD 3.8bn, a 42% margin.
Sources
suno.com.br
PT