Investor Presentaiton
Economic and Financial
Performance......
The record production and delivery efficiency
allowed Eldorado Brasil to achieve positive results
amid rising international pulp prices (USD 803 per
ton, 31% higher than in 2021), caused by logistical
bottlenecks affecting the global circulation and
supply of products between continents.
Net income was R$ 3.5 billion in 2022, up 301.6%
from 2021. Adjusted EBITDA (earnings before inte-
rest, tax, deprecation and amortization) was R$ 4.6
billion, an increase of 30.4% over the same period,
while our EBITDA margin was 60.5%. Financial leve-
rage (measured as the ratio of net debt/Adjusted
EBITDA) dropped to its lowest ever level of 0.65
times, compared to 1.48 times in the same period
last year.
In 2022 the Company produced 1.83 million metric
tons of pulp, 3.1% more than in 2021. Pulp sales
stood at 1.76 million tons, a 0.2% increase compared
to the previous cycle, serving the tissue (sanitary)
and printing and stationery segments. Asia, Europe
and North America continue to account for the
bulk of our exports. Click here to see the Company's
complete financial results.
Leverage, Net Debt
and Cash Cost of
Production
Cash cost of production remained compe-
titive in 2022 at an average of 880 R$/t (167
US$/t) at year-end, excluding the effect of
the scheduled maintenance shutdown.
Net Debt to EBITDA Ratio in 2022
0.65 X in R$ (ND 2,984/EBITDA 4,563=
-0.78 x) and 0.78 x in US$.
Net debt in 2022
R$ 2.984 million
42.6% less than in 2021.
Net debt in US$ in 2022
US$ 572 million
with a sustained reduction in dollar-deno-
minated debt.
Direct economic value generated¹ (R$)
GRI 201-1
2020
2021
2022
Revenue (R$)
Sales of goods, products and services
Non-operating
4,730,688.00
4,561,764.00
168,924.00
Inputs purchased from third parties
-1,734,885.00
6,498,158.00
6,279,845.00
218,313.00
-2,057,721.00
7,832,760.00
7,781,448.00
51,312.00
-1,331,111.00
-769,639.00
-871,319.00
-905,799.00
2,995,803.00
3,569,118.00
5,595,850.00
-532,806.00
-424,045.00
-571,683.00
Depreciation, amortization and depletion
Net added value produced by the entity
Transferred added value
-532,806.00
-424,045.00
-571,683.00
2,462,997.00
3,145,073.00
5,024,167.00
Added value to be distributed
196,422.00
2,659,419.00
48,525.00
3,193,598.00
637,914.00
5,662,081.00
Cost of goods and services sold
Gross value added
Withholdings
Distributed
Operating costs'
Direct economic value distributed (R$)
GRI 201-1
2020
2021
2022
351,387
2,372,317
44,126
451,971
476,437
1,195,514
832,682
666,351
818,694
108,411
2,659,419
879,762
3,193,598
3,534,268
5,662,081
Payments to providers of capital
Payments to government
Interest on equity
Total
1 Refers to salaries and benefits.
Economic value retained (R$)
"Direct economic value generated" less "Economic
value distributed" GRI 201-1
2020
2021
2,071,269
2022
3,304,560
2,170,679
Economic value distributed GRI 201-1
2020
2021
2022
Net revenue (R$ million)'
4,730,688.00
6,498,158.00
7,832,760.00
EBITDA (R$ million)
2,113
3,500.00
Design production capacity (million metric tons)
Actual production volume (million metric tons)
1.5
1.5
4,563
1.8
1,770
1,777
1,832
Sales volume (thousand metric tons)
1,799
1,755
1,759
Total added value to be distributed (R$ million)
1 The company ceased reporting gross revenue in 2022. Previous years' data has been updated for net revenue.
2,659.41
3,193,598
5,662,081.00
Eldorado Brasil
20
Foreword
Sustainability Report 2022
The Eldorado
Way
Corporate
Governance
Planet
Stewardship
People
GRI Content
Index
21View entire presentation