6-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K/A

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of September, 2020.

Commission File Number 001-38755

Suzano S.A.

(Exact name of registrant as specified in its charter)

SUZANO INC.

(Translation of Registrant’s Name into English) 

Av. Professor Magalhaes Neto, 1,752

10th Floor, Rooms 1010 and 1011

Salvador, Brazil 41 810-012

(Address of principal executive office) 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  x            Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

EXPLANATORY NOTE

Suzano is amending its report on Form 6-K furnished to the Securities and Exchange Commission on August 13, 2020 (File/Film Number: 001-38755 / 201100284) (the “Original 6-K”) solely for the purpose of adding Exhibit 101, which contains Interactive Data File disclosure in accordance with Rule 405 of Regulation S-T. Except as described above, this amendment does not amend any information set forth in the Original 6-K.

This report and exhibits shall be deemed to be incorporated by reference in our registration statements on Form F-3 filed with the U.S. Securities and Exchange Commission on September 18, 2020 (File No. 333-248909), and shall be deemed to be a part thereof from the date on which this report is furnished to the SEC, to the extent not superseded by documents or reports subsequently filed or furnished.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: September 30, 2020

SUZANO S.A.
By:	/s/ Marcelo Feriozzi Bacci
	Name:	Marcelo Feriozzi Bacci
	Title:	Chief Financial Officer and Investor Relations Director

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EXHIBIT INDEX

Exhibit Number
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Schema Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Schema Definition Linkbase
101.LAB	XBRL Taxonomy Extension Schema Label Linkbase
101.PRE	XBRL Taxonomy Extension Schema Presentation Linkbase

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XML

Document and Entity Information	6 Months Ended
	Jun. 30, 2020
Document and Entity Information
Entity Registrant Name	Suzano S.A.
Document Type	6-K/A
Document Period End Date	Jun. 30, 2020
Entity Central Index Key	0000909327
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

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CONSOLIDATED BALANCE SHEETS - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
CURRENT
Cash and cash equivalents	R$ 10,473,701	R$ 3,249,127
Marketable securities	2,030,560	6,150,631
Trade accounts receivable	3,762,875	3,035,817
Inventories	4,206,778	4,685,595
Recoverable taxes	888,245	997,201
Derivative financial instruments	152,978	260,273
Advances to suppliers	106,636	170,481
Other assets	281,471	335,112
Total current assets	21,903,244	18,884,237
NON CURRENT
Marketable securities	182,936	179,703
Recoverable taxes	712,279	708,914
Deferred taxes	10,454,646	2,134,040
Derivative financial instruments	925,459	838,699
Advances to suppliers	1,149,832	1,087,149
Judicial deposits	268,462	268,672
Other assets	231,633	228,881
Biological assets	10,672,724	10,571,499
Investments	325,420	322,446
Property, plant and equipment	40,242,196	41,120,945
Right of use	4,199,804	3,850,237
Intangible	17,225,097	17,712,803
Total non-current	86,590,488	79,023,988
TOTAL ASSET	108,493,732	97,908,225
CURRENT
Trade accounts payable	2,081,533	2,376,459
Loans, financing and debentures	5,546,123	6,227,951
Lease liabilities	704,174	656,844
Derivative financial instruments	4,529,091	893,413
Taxes payable	274,858	307,639
Payroll and charges	380,762	400,435
Liabilities for assets acquisitions and subsidiaries	127,721	94,414
Dividends payable	4,891	5,720
Advance from customers	31,856	59,982
Other liabilities	252,972	456,338
Total current liabilities	13,933,981	11,479,195
NON CURRENT
Loans, financing and debentures	75,082,454	57,456,375
Lease liabilities	4,469,798	3,327,226
Derivative financial instruments	7,369,241	2,024,500
Liabilities for assets acquisitions and subsidiaries	530,414	447,201
Provision for judicial liabilities	3,441,451	3,512,477
Employee benefit plans	744,105	736,179
Deferred taxes	75,354	578,875
Share-based compensation plans	151,365	136,505
Other liabilities	84,134	121,723
Total non-current liabilities	91,948,316	68,341,061
TOTAL LIABILITIES	105,882,297	79,820,256
EQUITY
Share capital	9,235,546	9,235,546
Capital reserves	6,200,079	6,198,599
Retained earnings reserves	317,144	317,144
Other reserves	2,191,704	2,221,341
Retained loss	(15,453,035)
Controlling shareholders	2,491,438	17,972,630
Non-controlling interest	119,997	115,339
Total equity	2,611,435	18,087,969
TOTAL LIABILITIES AND EQUITY	R$ 108,493,732	R$ 97,908,225

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CONSOLIDATED STATEMENTS OF INCOME (LOSS) - BRL (R$) R$ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
NET SALES	R$ 7,995,673	R$ 6,665,082	R$ 14,976,466	R$ 12,364,081
Cost of sales	(4,788,694)	(5,222,119)	(9,608,693)	(9,947,012)
GROSS PROFIT	3,206,979	1,442,963	5,367,773	2,417,069
OPERATING INCOME (EXPENSES)
Selling	(547,098)	(456,981)	(1,062,034)	(898,284)
General and administrative	(335,715)	(278,031)	(650,551)	(608,796)
Income (loss) from associates and joint ventures	(3,663)	3,911	(2,952)	5,569
Other, net	195,671	171,199	212,402	152,315
OPERATING PROFIT BEFORE NET FINANCIAL INCOME (EXPENSES)	2,516,174	883,061	3,864,638	1,067,873
NET FINANCIAL INCOME (EXPENSES)
Financial expenses	(1,033,126)	(1,086,192)	(2,119,550)	(2,078,996)
Financial income	82,419	149,607	203,173	298,929
Derivative financial instruments	(1,776,322)	257,427	(10,835,114)	(379,507)
Monetary and exchange variations, net	(2,930,209)	758,223	(15,349,795)	302,496
NET INCOME (LOSS) BEFORE TAXES	(3,141,064)	962,126	(24,236,648)	(789,205)
Current income taxes	(3,469)	(62,329)	(57,829)	(191,578)
Deferred income taxes	1,092,015	(199,949)	8,822,898	451,499
NET INCOME (LOSS) FOR THE PERIOD	(2,052,518)	699,848	(15,471,579)	(529,284)
Attributable to
Controlling shareholders'	(2,057,101)	700,548	(15,479,631)	(526,255)
Non-controlling interest	R$ 4,583	R$ (700)	R$ 8,052	R$ (3,029)
Earnings (Loss) per share
Basic	R$ (1.52466)	R$ 0.51922	R$ (11.47301)	R$ (0.39004)
Diluted	R$ (1.52466)	R$ 0.51922	R$ (11.47301)	R$ (0.39004)

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CONSOLIDATE STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - BRL (R$) R$ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net Income (loss) for the period	R$ (2,052,518)	R$ 699,848	R$ (15,471,579)	R$ (529,284)
Items that will not be reclassified to profit or loss
Tax effect of the subsidiary effect	(495)	(617)	(869)	(1,117)
Total other comprehensive income that will not be reclassified to profit or loss, net of tax	(2,051,557)	701,047	(15,469,892)	(527,115)
Items that may be subsequently reclassified to profit or loss
Exchange variation on conversion of financial statements and on foreign investments	(1,451)	(20,158)	(4,811)	(8,413)
Total comprehensive Income (loss) for the period	(2,053,008)	680,889	(15,474,703)	(535,528)
Attributable to
Controlling shareholders'	(2,057,591)	681,589	(15,482,755)	(532,499)
Non-controlling interest	4,583	(700)	8,052	(3,029)
Ensyn Corporation
Items that will not be reclassified to profit or loss
Exchange rate variation and fair value on financial assets measured at fair value through of comprehensive income		1,833		3,156
CelluForce Inc.
Items that will not be reclassified to profit or loss
Exchange rate variation and fair value on financial assets measured at fair value through of comprehensive income	R$ 1,456	70	R$ 2,556	532
Spinnova Oy
Items that will not be reclassified to profit or loss
Exchange rate variation and fair value on financial assets measured at fair value through of comprehensive income		R$ (87)		R$ (402)

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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - BRL (R$) R$ in Thousands	Share Capital	Share issuance costs	Tax incentives	Stock options granted	Share issuance costs	Other	Treasury shares	Tax incentives	Legal Reserve	Reserve for capital increase	Special statutory reserve	Dividends proposed	Other reserves	Retained earnings	Total	Non-controlling interest	Total
Balances, beginning of the period at Dec. 31, 2018	R$ 6,241,753		R$ 684,563	R$ 5,100	R$ (15,442)		R$ (218,265)		R$ 422,814	R$ 1,730,629	R$ 242,612	R$ 596,534	R$ 2,321,708		R$ 12,012,006	R$ 13,928	R$ 12,025,934
Total comprehensive income (loss)
Net Income (loss) for the period														R$ (526,255)	(526,255)	(3,029)	(529,284)
Other comprehensive income (loss) for the period													(6,244)		(6,244)		(6,244)
Transactions with shareholders:
Share capital increase	3,027,528														3,027,528		3,027,528
Share issuance costs		R$ (33,735)			R$ 15,442										(18,293)		(18,293)
Stock options granted				2,638											2,638		2,638
Non-controlling interest arising from business combination																105,447	105,447
Unclaimed dividends forfeited														1,122	1,122		1,122
Dividends paid												R$ (596,534)			(596,534)		(596,534)
Internal changes in equity:
Transfers of tax incentives			R$ (684,563)					R$ 684,563
Partial realization of deemed cost, net of taxes													(26,576)	26,576
Realization of asset revaluation reserve													6,281		6,281		6,281
Issue of common shares related to business combination						R$ 6,410,885									6,410,885		6,410,885
Balances, end of the period at Jun. 30, 2019	9,269,281	(33,735)		7,738		6,410,885	(218,265)	R$ 684,563	422,814	R$ 1,730,629	R$ 242,612		2,295,169	(498,557)	20,313,134	116,346	20,429,480
Balances, beginning of the period at Dec. 31, 2019	9,269,281	(33,735)		5,979		6,410,885	(218,265)		317,144				2,221,341		17,972,630	115,339	18,087,969
Total comprehensive income (loss)
Net Income (loss) for the period														(15,479,631)	(15,479,631)	8,052	(15,471,579)
Other comprehensive income (loss) for the period													(3,124)		(3,124)		(3,124)
Transactions with shareholders:
Stock options granted				1,480											1,480		1,480
Non-controlling interest arising from business combination																(3,394)	(3,394)
Unclaimed dividends forfeited														83	83		83
Internal changes in equity:
Partial realization of deemed cost, net of taxes													(26,513)	26,513
Balances, end of the period at Jun. 30, 2020	R$ 9,269,281	R$ (33,735)		R$ 7,459		R$ 6,410,885	R$ (218,265)		R$ 317,144				R$ 2,191,704	R$ (15,453,035)	R$ 2,491,438	R$ 119,997	R$ 2,611,435

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CONSOLIDATED STATEMENTS OF CASH FLOWS - BRL (R$) R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING ACTIVITIES
Net Income (loss) for the period	R$ (15,471,579)	R$ (529,284)
Adjustment to
Depreciation, depletion and amortization (Notes 26 and 29)	3,238,678	4,631,559
Amortization of right of use (Note 19.1)	93,309	63,889
Sublease of ships	(11,365)
Interest expense on lease liabilities	203,488	96,993
Results from sale, disposals and provision for losses (impairment) of property, plant and equipment and biological assets, net (Note 29)	(9,343)	3,504
Income (loss) from associates and joint ventures (Note 14.2)	2,952	(5,569)
Exchange rate and monetary variations, net (Note 26)	15,349,795	(302,496)
Interest expenses with financing, loans and debentures, net (Note 18.2)	1,736,775	1,676,115
Capitalized interest	(7,940)	(1,417)
Accrual of interest on marketable securities	(74,102)	(247,053)
Amortization of fundraising costs (notes 18.2)	41,268	159,856
Derivative (gains) losses, net (Note 26)	10,835,114	379,507
Fair value adjustment of biological assets (Note 13)	(173,733)	(83,453)
Deferred income tax and social contribution (Note 12.3)	(8,822,898)	(451,499)
Interest on employee benefits (Note 21.2)	26,527	26,842
Provision for (reversal of) judicial liabilities, net	(22,252)	2,475
Allowance for doubtful accounts, net (Note 7.3)	10,250	(9,928)
Provision for (reversal of) inventory losses, net (Note 8.1)	32,620	(12,028)
Provision for loss of ICMS credits, net (Note 9.1)	48,151	69,191
Other	12,798	66,655
Decrease (increase) in assets
Trade accounts receivables	206,570	1,065,488
Inventories	466,475	(1,208,554)
Recoverable taxes	114,501	(18,032)
Other assets	161,268	46,023
Increase (decrease) in liabilities
Trade accounts payables	(352,975)	(817)
Tax payable	24,235	252,757
Payroll and charges	(19,679)	(262,909)
Other liabilities	(343,868)	(350,419)
Cash provided by operations, net	7,295,040	5,057,396
Payment of interest with financing, loans and debentures	(1,682,413)	(1,462,681)
Interest received from marketable securities	126,579	285,922
Payment of income taxes	(62,694)	(405,257)
Cash provided by operating activities	5,676,512	3,475,380
INVESTING ACTIVITIES
Additions to property, plant and equipment (note 15)	(559,126)	(1,147,071)
Additions to intangible assets (note 16)	(513)	(718)
Additions to biological assets (note 13)	(1,401,424)	(1,508,161)
Proceeds from sale of property, plant and equipment	61,887	83,695
Increase of capital in subsidiaries and associates (Note 14.3)		(11,216)
Marketable securities, net	4,064,361	21,833,286
Advance for acquisition of wood from operations with development	6,544	(212,150)
Acquisition of subsidiaries, net cash		(26,002,540)
Other investments		(269)
Cash provided (used) in investing activities, net	2,171,729	(6,965,144)
Cash flow from financing activities
Proceeds from loans, financing and debentures (note 18.2)	6,700,529	16,225,071
Payment of derivative transactions (note 4.5.4)	(1,834,250)	(4,662)
Payment of loans, financing and debentures (note 18.2)	(6,224,940)	(12,011,492)
Payment of leases (note 19.2)	(354,289)	(270,586)
Payment of dividends		(601,731)
Liabilities for assets acquisitions and subsidiaries	(5,670)	(3,425)
Other financing		2,379
Cash provided (used) by financing activities	(1,718,620)	3,335,554
Exchange variation on cash and cash equivalents	1,094,953	(128,602)
Increase (reduction) in cash and cash equivalents, net	7,224,574	(282,812)
Cash and cash equivalents at the beginning for the period	3,249,127	4,387,453
Cash and cash equivalents at the end for the period	10,473,701	4,104,641
Increase (reduction) in cash and cash equivalents, net	R$ 7,224,574	R$ (282,812)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) R$ in Thousands	6 Months Ended
	Jun. 30, 2019 BRL (R$)
CONSOLIDATED STATEMENTS OF CASH FLOWS
Amortization of inventories setup	R$ 2,178,903

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COMPANY'S OPERATIONS

6 Months Ended

Jun. 30, 2020

COMPANY'S OPERATIONS

COMPANY'S OPERATIONS

1.COMPANY’S OPERATIONS

Suzano S.A., together with its subsidiaries (“Suzano” or collectively “Company”), is a public company with its headquarters office in the city of Salvador, State of Bahia, Brazil.

Suzano owns shares traded in B3 S.A. (“Brasil, Bolsa, Balcão - “B3”), listed on the New Market under the ticker SUZB3. On December 10, 2018, Suzano began trading its American Depositary Receipts ("ADRs") in a ratio of 1 (one) common share, Level II, traded in the New York Stock Exchange under the ticker SUZ, pursuant to a program approved by the Brazilian Securities and Exchange Commission (“CVM”).

The Company holds 11 industrial units, located in Aracruz (Espírito Santo, State), Belém (Pará, State), Eunápolis (Bahia, State) and Mucuri (Bahia, State), Fortaleza (Ceará, State), Imperatriz (Maranhão, State), Jacareí, Limeira, Rio Verde and Suzano (São Paulo, State) and Três Lagoas (Mato Grosso do Sul, State).

These units produce hardwood pulp from eucalyptus, paper (coated paper, paperboard, uncoated paper and cut size paper) and packages of sanitary paper (consumer goods - tissue) to serve the domestic and foreign markets.

Pulp and paper are sold in the foreign market directly by Suzano, as well as through its wholly-owned subsidiaries in Argentina, the United States of America, Switzerland, Austria and sales offices in China.

The Company's corporate purpose also includes the commercial operation of eucalyptus forest for its own use, the operation of port terminals, and the holding of interest, as partner or shareholder, in any other company or project, and the generation and sale of electricity.

The Company is controlled by Suzano Holding S.A., through a Voting Agreement whereby it holds 45.85% of the common shares of its share capital.

These unaudited condensed consolidated interim financial information was approved by Executive Board on August 12, 2020.

1.1.Equity interest

The Company holds equity interest in the following entities:

					% equity interest
			Type of	Accounting	June 30,		December 31,
Entity	Main activity	Country	investment	method	2020		2019
AGFA – Com. Adm. e Participações Ltda.	Holding	Brazil	Direct	Consolidated	100.00	%	100.00	%
Asapir Produção Florestal e Comércio Ltda.	Eucalyptus cultivation	Brazil	Direct	Consolidated	100.00	%	100.00	%
CelluForce Inc.	Nanocrystalline pulp research and development	Canada	Direct	Fair value through other comprehensive income	8.30	%	8.30	%
Comercial e Agrícola Paineiras Ltda.	Lease of reforestation land	Brazil	Direct	Consolidated	99.99	%	99.99	%
Ensyn Corporation	Bio fuel research and development	United States of America	Direct	Equity	25.30	%	25.30	%
Facepa - Fábrica de Papel da Amazônia S.A.	Industrialization and commercialization of tissue paper	Brazil	Direct/Indirect	Consolidated	92.80	%	92.80	%
Fibria Celulose (USA) Inc.	Business office	United States of America	Direct	Consolidated	100.00	%	100.00	%
Fibria Terminal de Celulose de Santos SPE S.A.	Port operation	Brazil	Direct	Consolidated	100.00	%	100.00	%
Fibria Overseas Finance Ltd.	Financial fundraising	Cayman Island	Direct	Consolidated	100.00	%	100.00	%
Fibria Terminais Portuários S.A.	Port operation	Brazil	Direct	Consolidated	100.00	%	100.00	%
FuturaGene AgriDev Xinjiang Company Ltd.	Biotechnology research and development	China	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Biotechnology Shangai Company Ltd.	Biotechnology research and development	China	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Brasil Tecnologia Ltda.	Biotechnology research and development	Brazil	Direct/Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Delaware Inc.	Biotechnology research and development	United States of America	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Hong Kong Ltd.	Biotechnology research and development	Hong Kong	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Inc.	Biotechnology research and development	United States of America	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Israel Ltd.	Biotechnology research and development	Israel	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Ltd.	Biotechnology research and development	England	Indirect	Consolidated	100.00	%	100.00	%
F&E Tecnologia do Brasil S.A. (1)	Biofuel production, except alcohol	Brazil	Direct	Consolidated	100.00	%	100.00	%
F&E Technologies LLC	Biofuel production, except alcohol	United States of America	Direct	Equity	50.00	%	50.00	%
Gansu FuturaGene Biotech Co. Ltd. (2)	Biotechnology research and development	China	Indirect	Consolidated			100.00	%
Ibema Companhia Brasileira de Papel	Industrialization and commercialization of paperboard	Brazil	Direct	Equity	49.90	%	49.90	%
Itacel - Terminal de Celulose de Itaqui S.A.	Port operation	Brazil	Indirect	Consolidated	100.00	%	100.00	%
Maxcel Empreendimentos e Participações S.A.	Holding	Brazil	Direct	Consolidated	100.00	%	100.00	%
Mucuri Energética S.A.	Power generation and distribution	Brazil	Direct	Consolidated	100.00	%	100.00	%
Ondurman Empreendimentos Imobiliários Ltda.	Lease of reforestation land	Brazil	Direct/Indirect	Consolidated	100.00	%	100.00	%
Paineiras Logística e Transportes Ltda.	Road freight transport	Brazil	Direct /Indirect	Consolidated	100.00	%	100.00	%
Portocel - Terminal Espec. Barra do Riacho S.A.	Port operation	Brazil	Direct	Consolidated	51.00	%	51.00	%
Projetos Especiais e Investimentos Ltda.	Commercialization of equipment and parts	Brazil	Direct	Consolidated	100.00	%	100.00	%
Rio Verde Participações e Propriedades Rurais S.A. (3)	Forest assets	Brazil	Direct	Consolidated	100.00	%	100.00	%
Spinnova OY	Research and development of sustainable raw materials (wood) for the textile industry	Finland	Direct	Equity	24.06	%	24.06	%
Stenfar S.A. Indl. Coml. Imp. Y. Exp.	Commercialization of computer paper and materials	Argentine	Direct /Indirect	Consolidated	100.00	%	100.00	%
Suzano Austria GmbH.	Business office	Austria	Direct	Consolidated	100.00	%	100.00	%
Suzano Canada Inc.	Lignin research and development	Canada	Direct	Consolidated	100.00	%	100.00	%
Suzano International Trade GmbH.	Business office	Austria	Direct	Consolidated	100.00	%	100.00	%
Suzano Participações do Brasil Ltda. (4)	Holding	Brazil	Direct	Consolidated			100.00	%
Suzano Pulp and Paper America Inc.	Business office	United States of America	Direct	Consolidated	100.00	%	100.00	%
Suzano Pulp and Paper Europe S.A.	Business office	Switzerland	Direct	Consolidated	100.00	%	100.00	%
Suzano Shanghai Ltd. (5)	Customer relationship services	China	Direct	Consolidated	100.00	%
Suzano Trading Ltd.	Business office	Cayman Island	Direct	Consolidated	100.00	%	100.00	%
Suzano Trading International KFT	Business office	Hungary	Direct	Consolidated	100.00	%	100.00	%
Veracel Celulose S.A. (6)	Industrialization, commercialization and exportation of pulp	Brazil	Direct	Consolidated	50.00	%	50.00	%

¹⁾ On May 31, 2020, reorganization of equity interest as a result of the merger of Suzano Participações do Brasil Ltda. by Suzano S.A. Previously, the participation of this entity was directly held by Suzano Participações do Brasil Ltda. and indirectly by Suzano S.A. After the merger, it was held directly by Suzano S.A.

²⁾ On April 8, 2020, disposal of equity interest.

³⁾ On May 31, 2020, reorganization of equity interest as a result of the merger of Suzano Participações do Brasil Ltda. by Suzano S.A. Previously, the participation of this entity was directly held by Suzano Participações do Brasil Ltda. and indirectly by Suzano S.A. After the merger, it was held directly by Suzano S.A.

⁴⁾ On May 31, 2020, merger of the entity by Suzano S.A.

⁵⁾ On February 26, 2020, establishment of legal entity arising from corporate reorganization.

⁶⁾ Joint operation with Stora Enso, a company located in Finland

1.2.  Major events in the six-month period ended June 30, 2020

1.2.1.Effects arising from COVID 19

With the advent of the pandemic COVID-19, Suzano has adopted and has maintained preventive and mitigating measures, in compliance with the rules and policies established by national and international health authorities, in order to minimize as far as possible, the harmful effects of the pandemic of COVID-19, popularly known as the new coronavirus, referring to the safety of people , society and their businesses.

Thus Company's initiatives are based on three pillars: (i) protection for people (ii) protection for society and (iii) protection for business.

(i)Protection for people: in order to provide security to its employees and third parties who in its operations, Suzano adopted a series of measures aimed at minimizing the exposure of its team and / or mitigating exposure risks.

(ii)Protection of society: one of Suzano's three cultural drivers is: “It is only good for us, if it is good for the world”. Therefore, from the beginning of the pandemic to the present, the Company has adopted a series of measures to protect society, including:

•      Donation of toilet paper, napkins and disposable diapers produced by the Company for needy regions.

•      Acquisition of 159 respirators and 1,000,000 hospital masks for donation to the Federal and State Governments.

•      Participation in joint action with Positivo Tecnologia, Klabin, Flextronics and Embraer, to support the Brazilian company Magnamed to deliver respirators to the Federal Government until August 2020. Suzano's disbursement in this action was R$ 9,584.

•      Construction of a field hospital in Teixeira de Freitas (BA) in conjunction with Veracel, which has already been handed over to the state government and opened in July 2020.

•      Establishement a partnership with Fatec of Capão Bonito for the production of gel alcohol.

•      Loan of forklifts to move donations received by the Red Cross.

•      Maintenance of all direct jobs at this time.

•      Maintenance, for 90 days (from March to June 2020) of payment of 100% of the cost of the payroll of service providers' workers who had their activities suspended due to the pandemic, aiming at the consequent preservation of jobs.

•      Creation of the a support program for small suppliers, a social support program for small farmers to sell their products through the home delivery system in 38 communities supported by Suzano's Rural and Territorial Development Program (“PDRT”) in 5 states and social program with the objective of provide 125,000 masks in communities for donation in 5 states.

•      Launch a program to support its portfolio of small and medium-sized paper customers entitled “Tamo Junto” with the objective of ensuring that these companies have the financial and management capacity to resume activities.

The disbursements made for carrying out the social actions implemented by Suzano, totaled R$48,024 through June 30, 2020 (Note 29).

(iii)Protection for business: to date, the Company continues with its normal operations and a crisis management committee has been implemented.

The paper and pulp sector were recognized by the World Health Organization (“WHO”), as well as by several countries, as a producer of goods essential to society. Therefore, in order to fulfill the responsibility arising from the essentiality of the business, Suzano has taken measures to ensure, to the greatest extent possible, operational normality and full service to its customers, increasing the level of wood and raw material inventories in the factories and has been advancing its inventories of finished goods product bringing them closer to their customers to mitigate possible risks of disruption in the factories' supply chain and the sale of their products.

The current situation resulting from the coronavirus also implies a higher credit risk, especially for its customers in the paper business. Thus, the Company has also been monitoring the evolution of this risk and implementing measures to mitigate it, and so far, there has been no significant financial impact.

Due to the social isolation measures adopted in Brazil and in several countries around the world, causing schools and offices to close, for example, the demand for printing and writing papers was reduced. In light of this situation, as announced by paper producers in several countries around the world, Suzano decided to temporarily reduce its paper production volume. As previously disclosed in the quarterly information for the period ended March 31, 2020, the Company temporarily stopped production at the paper production lines of the Mucuri and Rio Verde units. However, the activities of the factories were resumed at the beginning of July 2020.

Finally, it is also worth noting that, as a result of the current scenario, the Company has made and maintained a vast communication effort to further increase the interaction with its main stakeholders, with the objective of guaranteeing the adequate transparency and flow of information with the them in a timely manner to the dynamics of the social and economic conjuncture.

All the main communications made by the Company to update its measures and activities in the context of Covid-19, are available on the Company's Investor Relations website.

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BASIS OF PREPARATION AND PRESENTATION OF UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION

6 Months Ended

Jun. 30, 2020

BASIS OF PREPARATION AND PRESENTATION OF UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION

BASIS OF PREPARATION AND PRESENTATION OF UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION

2.BASIS OF PREPARATION AND PRESENTATION OF UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION

The Company’s unaudited condensed consolidated interim financial information, of the six-month period ended June 30, 2020, are prepared in accordance with and in compliance with the international standard IAS 34 Interim Financial Reporting issued by the International Accounting Standards Board (“IASB”) and disclose all the applicable significant information related to the financial information, which is consistent with the information utilized by Management in the performance of its duties.

The Company’s unaudited condensed consolidated interim financial information are expressed in thousands of Brazilian Reais (“R$”), as well as the amounts of other currencies disclosed in the unaudited condensed consolidated interim financial information, when applicable, were also expressed in thousands, unless otherwise stated.

The preparation of unaudited condensed consolidated interim financial information requires Management to make judgments, use estimates and adopt assumptions in the process of applying accounting practices, that affect the disclosed amounts of revenues, expenses, assets and liabilities, including contingent liabilities. However, the uncertainty inherent to these judgements, assumptions and estimates could result in material adjustments to the carrying amount of certain assets and liabilities in future periods.

The Company reviews its judgments, estimates and assumptions continually as disclosed in the annual financial statements for the year ended December 31, 2019 (Note 3.2.32). In the six-month period ended June 30, 2020, the Company reviewed the judgments, estimates and assumptions related to the measurement of the fair value of biological assets and the impairment test of the intangible asset, which are disclosed in the respective Notes 13 and 16 of this interim financial statement.

The unaudited condensed consolidated interim financial information were prepared on the historical cost basis, except for the following material items recognized:

(i) derivative and non-derivative financial instruments measured at fair value;

(ii) share-based payments and employee benefits measured at fair value;

(iii) biological assets measured at fair value; and

(iv) deemed cost of property, plant and equipment.

The main accounting polices applied in the preparation of these unaudited condensed consolidated interim financial information are presented in Note 3.

The unaudited condensed consolidated interim financial information were prepared under the going concern assumption.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The unaudited condensed consolidated interim financial information was prepared based on the information of Suzano and its wholly-owned subsidiaries on the six-month period ended June 30, 2020, as well as in accordance with consistent accounting practices and policies.

The unaudited condensed consolidated interim financial information should be read in conjunction with the annual financial statements for the year ended December 31, 2019, considering that its purpose is to provide an update on the activities, events and significant circumstances in relation to those disclosed in the consolidated financial statements. Therefore, unaudited condensed consolidated interim financial information focus on new activities, events and circumstances and do not duplicate the information previously disclosed, except when Management judges that the maintenance of the information is relevant.

The accounting policies have been consistently applied to all consolidated companies.

There were no changes on such policies and estimates calculation methodologies, except for the application of the new accounting policies as of January 1, 2020 and whose estimated impact was disclosed in the annual financial statements of December 31, 2019, as described in the Note 3.1.

3.1.    New accounting policies and changes in the accounting policies adopted

3.1.1.Translation into currency presentation

Due to the merger with Fibria, the Company had several changes in the structure, activities and operations during 2019 that led management to conclude that they needed to reassess the functional currency of its subsidiaries whose functional currency was different from Brazilian Reais.

Those facts resulted in the corporate reorganization, as well as, it has impacted how management conducted the Company's business in order to achieve the alignment between the cultures of the two Companies, the unification of processes, operating, tax systems and strategies, through synergy gains arising from the business combination. In this process some of Company’s wholly-owned subsidiaries were considered an extension of the activities of the parent company. 

These circumstances collectively justify the change in the functional currency to Brazilian Real and they have occurred gradually during 2019, therefore it was not practicable to determine the date of the change at a precise point during the reporting period. Thus, the Company changed the functional currency of those wholly-owned subsidiaries as of January 1, 2020.

The cumulative translation adjustment (“CTA”) arising from the translation of a foreign operation previously recognized in other comprehensive income will not be reclassified from equity to profit or loss until the disposal of the operations. The total or partial disposal of interest in wholly-owned subsidiaries occurs through sale or dissolution, of all or part of operation. 

Therefore, the financial statements of foreign subsidiaries, whose functional currency was different from Brazilian Reais in 2019, were translated using the criteria established below:

(i) assets and liabilities are translated at the exchange rate in effect at period-end;

(ii) revenues and expenses are translated based on the monthly average rate;

(iii) the cumulative effects of gains or losses upon translation are recognized as accumulated foreign currency translation adjustments component of other comprehensive income.

And as from January 1, 2020, the financial statements of foreign subsidiaries are translated using the following criteria:

(i) monetary assets and liabilities are translated at the exchange rate in effect at period-end;

(ii) non-monetary assets and liabilities are translated at the historical rate of the transaction;

(iii) revenues and expenses are translated based on monthly average rate;

(iv) the cumulative effects of gains or losses upon translation are recognized in the other comprehensive income period-end.

3.1.2.Business combination – IFRS 3

This pronouncement was amended and clarifies definition of a “business”. It is also permitted a simplified assessment of whether an acquired set of activities and assets is a group of assets rather than a business. The Company assessed the content of this pronouncement and did not identify any material impacts.

3.1.3.Presentation of financial statements – IAS 1 and Accounting policies, changes in accounting estimates and errors – IAS 8

This pronouncement was amended and clarifies definition of a “material” and how it should be applied by (i) including in the definition guidance that until now has featured elsewhere in IFRS Standards; (ii) improving the explanations accompanying the definition; and (iii) ensuring that the definition of material is consistent across all IFRS Standards. The Company assessed the content of this pronouncement and did not identify any material impacts.

3.1.4.Conceptual framework for financial reporting

This pronouncement was amended and includes some new concepts, provides updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts, the main changes are set forth below:

(i)the objective of financial reporting describes the objective of general purpose financial reporting, the information needed to achieve that objective and who uses the financial reports. The term “stewardship” was reintroduced, in order to clarify its meaning and defining the information needed to assess management’s stewardship and separates this from the information that users need to assess the prospects of the entity’s future net cash flows. Both types of information are required to provide information that is useful for making decisions about providing resources to the entity, and therefore achieves the objective of financial reporting.

(ii)qualitative characteristics of useful financial information: the concepts of prudence and substance over form were reintroduced. It was also defined the concept of measurement uncertainty in assessing the usefulness of financial information, since in some cases, relevant information may have a high level of measurement uncertainty, which may reduce its usefulness. Slightly less relevant information with a lower measurement uncertainty may be preferable in such case.

(iii)financial statements and the reporting entity: describes about new concepts, in which it is clarified the scope and objective of financial statements and also provides a description of the reporting entity.

(iv)the elements of financial statements: the definitions of assets and liabilities were revised and the definitions of income and expenses were updated accordingly, as set forth below:

Previous definition	New definition
Asset: A resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity.	Asset: A present economic resource controlled by the entity as a result of past events. An economic resource is a right that has the potential to produce economic benefits.

The new definition clarifies that an asset is an economic resource, and that the potential economic benefits no longer need to be “expected” to flow to the entity. Thus, they do not need to be certain or even likely, but if this is the case, the recognition and measurement of the asset may be affected.

Liability: A present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Liability: A present obligation of the entity to transfer an economic resource as a result of past events.

The main difference is that the new definition clarifies that a liability is the obligation to transfer an economic resource, and not the ultimate outflow of economic benefits. The outflow also no longer needs to be ‘expected’, similar to the change in the definition of an asset, above. It was also introduced the concept of ‘no practical ability to avoid’ to the definition of an obligation, and factors used to assess this will depend on the nature of an entity’s duty or responsibility, which requires the use of judgement.

Income: increases in economic benefits during the accounting period in the form of inflows or enhancements of assets, or decreases of liabilities, that result in increases in equity, other than those relating to contributions from equity participants.	Income:  Increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims..
Expense: Decreases in economic benefits during the accounting period in the form of outflows or depletions of assets, or incurrences of liabilities, that result in decreases in equity, other than those relating to distributions to equity participants.	Expense: Decreases in assets, or increases in liabilities, that result in decreases in equity, other than those relating to distributions to holders of equity claims

(v)recognition and derecognition: the criteria for recognizing assets and liabilities in the financial statements were reviewed. The pronouncement states that recognition is only appropriate if it results in both relevant information about the element being recognized, and faithful representation of that element. On the other hand, derecognition should aim to faithfully represent those assets and liabilities retained after the transaction, if any, and any change in assets and liabilities as a result of the transaction that led to the derecognition.

(vi)measurement: new guidance was introduced about measurement bases and provide factors to consider when selecting a measurement basis. Therefore, two categories of measurement basis were identified:

•historical cost:

•current value: which comprises fair value, value in use of assets and fulfilment value for liabilities and current cost.

(vii)Presentation and disclosure: the concepts were reviewed (i) how information should be presented and disclosed in financial statements (ii) classifying income and expenses in the statement of income and (iii) whether and when income and expenses included in other comprehensive income (“OCI”) should subsequently be recycled to statement of income. Additionally, reinforces that statement of income is the primary source of information about the entity’s financial performance.

(viii)concepts of capital and capital maintenance: describes the concepts of capital and capital maintenance and profit determination and adjustments for capital maintenance, the content of this item has not changed.

The Company assessed the content of this pronouncement and did not identify any material impacts.

3.2.Lease – CPC 06 (R2) / IFRS 16

This pronouncement was changed as a result of benefits related to Covid-19 granted to lessee under lease agreements. The Company assessed the content of this pronouncement and did not identify any impacts, for the clauses of the current lease agreements remained unchanged. 

3.3.New standards, revisions and interpretations not yet in force

There are no other IFRSs or IFRIC interpretations that are not yet effective that would be expected to have a material impact on the Company’s unaudited consolidated condensed interim financial information.

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

6 Months Ended

Jun. 30, 2020

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

4.FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT

4.1.Financial risks management

4.1.1.Overview

In the six-month period ended June 30, 2020, there were no significant changes in the financial risk management policies and procedures compared to those reported in note 4 to the financial statements of December 31, 2019.

The Company maintained its conservative approach and strong cash and marketable securities position, as well as its hedge policy, during the crisis caused by the pandemic of COVID-19 and even though there were impacts on the fair value of its financial instruments due to the effects on all global economies, the impacts were as expected, according to sensitivity analyses disclosed in previous reports, and measures were taken in relation to the risks associated to the financial instruments, in particular to the risks of liquidity, credit and exchange rate variation, as described following items set forth.

4.1.2.Rating

All transactions with financial instruments are recognized for accounting purposes and classified in the following categories:

		June 30,	December 31,
	Note	2020	2019
Assets
Amortized cost
Cash and cash equivalents	5	10,473,701	3,249,127
Trade accounts receivable	7	3,762,875	3,035,817
Other assets		513,104	563,993
		14,749,680	6,848,937
Fair value through other comprehensive income
Other investments	14	25,976	20,048
		25,976	20,048
Fair value through profit or loss
Derivative financial instruments	4.5	1,078,437	1,098,972
Marketable securities	6	2,213,496	6,330,334
		3,291,933	7,429,306
		18,067,589	14,298,291
Liabilities
Amortized cost
Loans, financing and debentures	18.1	80,628,577	63,684,326
Lease liabilities	19.2	5,173,972	3,984,070
Liabilities for assets acquisitions and subsidiaries	23	658,135	541,615
Trade accounts payable	17	2,081,533	2,376,459
Other liabilities		337,106	578,061
		88,879,323	71,164,531
Fair value through profit or loss
Derivative financial instruments	4.5	11,898,332	2,917,913
		11,898,332	2,917,913
		100,777,655	74,082,444
		82,710,066	59,784,153

4.1.3.Fair value of loans and financing

The estimated fair values of loans and financing are set forth below:

	Approach used	June 30,	December 31,
	to discount	2020	2019
Quoted in the secondary market
In foreign currency
Bonds	Secondary Market	38,795,348	30,066,087
Estimated to present value
In foreign currency
Export credits ("Pre-payment")	LIBOR	26,123,478	17,213,963
Export credits ("ACC/ACE")	DI 1	799,183	575,521
In local currency
BNP – Forest Financing	DI 1	177,376	193,646
BNDES – TJLP	DI 1	1,759,652	1,895,959
BNDES - TLP	DI 1	523,828	535,812
BNDES – Fixed	DI 1	95,259	113,979
BNDES – Selic ("Special Settlement and Custody System")	DI 1	938,208	693,969
BNDES - Currency basket	DI 1	61,488	54,420
CRA ("Agribusiness Receivables Certificate")	DI 1	4,583,620	6,039,983
Debentures	DI 1	5,416,351	5,534,691
FINAME ("Special Agency of Industrial Financing")	DI 1	11,816	14,168
FINEP ("Financier of Studies and Projects")	DI 1	1,287	5,138
NCE ("Export Credit Notes")	DI 1	1,354,814	1,445,383
NCR ("Rural Credit Notes")	DI 1	280,876	288,122
Export credits ("Pre-payment")	DI 1	1,435,407	1,464,798
FDCO ("West Center Development Fund")	DI 1	541,291	571,904
		82,899,282	66,707,543

The Management considers that for its other financial liabilities measured at amortized cost, its book values approximate to their fair values and therefore the information on their fair values is not being presented.

4.2.  Liquidity risk

As disclosed in note 4 to the financial statements as of December 31, 2019, the Company’s purpose is maintaining a strong cash and marketable securities position to meet its financial and operating obligations. The amount held as cash is used for payments expected in the normal course of its operations, while the cash surplus amount is invested in highly liquid financial investments according Cash Management Policy.

The cash position is monitored by the Company's senior management, by means of management reports and participation in performance meetings with determined frequency. In the six-month period ended June 30, 2020, the impacts in cash and marketable securities were as expected and the Company believes that, eventually, the crisis scenario caused by the COVID-19 pandemic would be extend and the Brazilian Reais keep devalued against the U.S. Dollar, adjustments of derivative instruments that will mature in the coming months will be offset by higher cash generation, exceeding the cost of any adjustments to the respective due date.

As material fact disclosed to the market on February 14, 2020, the Company, voluntarily prepaid the principal amount of U.S.$750,000 (equivalent, on the transaction date, to R$3,240,229), related to an export prepayment, with quarterly interest payments of 1.15% p.a. plus quarterly LIBOR, which was scheduled to mature in February 14, 2023. At the same time, the Company entered into a new transaction related to an export prepayment in the amount of U.S.$850,000 (equivalent, on the transaction date, to R$3,672,259), of 1.15% p.a. plus quarterly LIBOR, which was scheduled to mature in February 13, 2026. Furthermore, as material fact disclosed to the market on February 28, 2020, the Company through its wholly-owned subsidiary Suzano Trading Ltd. ("Suzano Trading") exercised its right to redeem all of the outstanding aggregate principal amount of the 5.875% senior notes issued by it and guaranteed by Suzano due 2021 ("2021 Notes") currently outstanding, in the total aggregate principal amount of U.S.$189,630.

Such transactions were performed under market conditions, considered attractive by the Company, and even though they were carried out before the crisis caused by the COVID-19 pandemic, they were in line with the debt management strategy based on cost reduction and extension of the term portfolio, thus reinforcing our liquidity position.

In line with the material fact disclosed to the market on March 30, 2020, there was a disbursement of U.S.$500,000 (equivalent, on the transaction date, to R$2,638,221) of its revolving credit facility maintained with certain financial institutions, of 1.30% plus quarterly LIBOR and maturity in February 2024. The disbursement is in line with the preventive measures that the Company has been taking to mitigate eventual impacts resulting from the COVID-19 pandemic and aims to bring even more strength to the liquidity position of the Company. The funds were credited on April 1, 2020.

The remaining contractual maturities of financial liabilities are disclosed at the date of this financial information reporting date. The amounts as set forth below, consist in the undiscounted cash flows and include interest payments and exchange rate variation, and therefore may not be reconciled with the amounts disclosed in the balance sheet.

	June 30,
	2020
	Total book	Total future	Up to 1	1 - 2	2 - 5	More than
	value	value	year	years	years	5 years
Liabilities
Trade accounts payables	2,081,533	2,081,533	2,081,533	—	—	—
Loans, financing and debentures(1)	80,628,577	110,480,401	7,742,122	4,575,792	45,904,453	52,258,034
Lease liabilities	5,173,972	9,733,128	842,789	1,566,704	2,064,169	5,259,466
Liabilities for asset acquisitions and subsidiaries	658,135	744,790	134,005	129,699	365,836	115,250
Derivative financial instruments(1)	11,898,332	18,155,523	4,556,320	1,415,206	4,726,006	7,457,991
Other liabilities	337,106	337,106	252,972	84,134
	100,777,655	141,532,481	15,609,741	7,771,535	53,060,464	65,090,741

1)The variation is due to the increase in the exchange rate variation in the six-month period ended June 30, 2020.

	December 31,
	2019
	Total book	Total future	Up to 1	1 - 2	2 - 5	More than
	value	value	year	years	years	5 years
Liabilities
Trade accounts payables	2,376,459	2,376,459	2,376,459	—	—	—
Loans, financing and debentures	63,684,326	89,708,210	8,501,278	5,692,149	29,088,292	46,426,491
Lease liabilities	3,984,070	7,109,966	559,525	1,426,011	1,186,386	3,938,044
Liabilities for asset acquisitions and subsidiaries	541,615	618,910	103,132	101,149	315,989	98,640
Derivative financial instruments	2,917,913	8,299,319	1,488,906	415,791	1,258,200	5,136,422
Other liabilities	578,061	578,061	456,338	121,723
	74,082,444	108,690,925	13,485,638	7,756,823	31,848,867	55,599,597

4.3. Credit risk management

In the six-month period ended June 30, 2020, there were no significant changes in the credit risk management policies and procedures compared to those reported in note 4 to the financial statements of December 31, 2019, except for described set forth below.

4.3.1.Trade accounts receivable  and advances to supplier

As a result of the crisis caused by COVID-19, the Company started to accept requests for the extension of customer invoices, limiting these postponements to those invoices close to maturity, with due interest charges.

Most of the customers who requested extension are related to the domestic market in the paper segment and do not represent a significant amount compared to the Company's total accounts receivable.

In the six-month period ended June 30, 2019, the Company observed in the domestic customers of the paper segment, a more accentuated behavior of delays caused by the COVID-19 crisis. However, internal analyzes and credit metrics do not demonstrate that these delays may have a significant impact on the Company's liquidity position. There was also an increase in delays in Latin America, however, for this region, the Company has credit insurance policies that mitigate most of the possible risks arising from the default of its customers.

All policies aimed at mitigating the possible risks arising from the default of its customers were maintained, as well as the collection policies and procedures. Moreover, the policy of expected credit losses normally follows, without any changes.

4.3.2.Banks and financial institutions

In the six-month period ended June 30, 2020, there were no significant changes in the credit risk management policies and procedures related to bank and financial institutions compared to those reported in note 4 to the financial statements of December 31, 2019.

4.4.  Market risk management

In the six-month period ended June, 2020, there were no significant changes in the market risk management policies and procedures compared to those reported in note 4 to the financial statements of December 31, 2019.

4.4.1.Exchange rate risk management

The net exposure of assets and liabilities in foreign currency which is substantially in U.S. Dollars, is set forth below:

	June 30,	December 31,
	2020	2019
Assets
Cash and cash equivalents	9,895,463	2,527,834
Trade accounts receivables	2,891,501	2,027,018
Derivative financial instruments	242,235	9,440,141
	13,029,199	13,994,993
Liabilities
Trade accounts payables	(491,805)	(1,085,207)
Loans and financing	(63,817,265)	(45,460,138)
Liabilities for asset acquisitions and subsidiaries	(401,273)	(288,172)
Derivative financial instruments	(10,485,935)	(11,315,879)
	(75,196,278)	(58,149,396)
Net liability exposure	(62,167,079)	(44,154,403)

4.4.1.1.Sensitivity analysis – foreign exchange rate exposure – except financial instruments derivatives

For market risk analysis, the Company uses scenarios to jointly evaluate assets and liabilities positions in foreign currency, and the possible effects on its results. The probable scenario represents the amounts recognized, as they reflect the translation into Brazilian Reais on the base date of the balance sheet (R$ to U.S.$ = R$5.4760).

This analysis assumes that all other variables, particularly, the interest rates, remains constant. The other scenarios considered the appreciation/depreciation of the Brazilian real against the U.S.$. at the rates of 25% and 50%, before taxes.

The following table set forth the potential impacts in absolute amounts:

	June 30,
	2020
	Effect on profit or loss and equity
		Possible	Remote
	Probable	(25%)	(50%)
Cash and cash equivalents	9,895,463	2,473,866	4,947,732
Trade accounts receivable	2,891,501	722,875	1,445,751
Trade accounts payable	(491,805)	(122,951)	(245,903)
Loans and financing	(63,817,265)	(15,954,316)	(31,908,633)
Liabilities for asset acquisitions and subsidiaries	(401,273)	(100,318)	(200,637)

4.4.1.2.Sensitivity analysis – foreign exchange rate exposure – financial instruments derivatives

As disclosed in note 4 of the financial statements for the year ended December 31, 2019, the Company contracts sales operations of U.S. Dollar in the futures markets, including strategies with options, in order to ensure attractive levels of operating margins for a portion of revenue. These operations are limited to a percentage of the net foreign exchange surplus over the 18-month horizon and, therefore, are attached to the availability of ready-to-sell foreign exchange in the short term.

Due to pandemic COVID-19 and the effects on all global economies during the first semester, financial markets have experienced volatility throughout the period with a strong sense of aversion to risk, with a consequent substantial devaluation of the Real against the U.S. Dollars.

For the calculation of mark-to-market (“MtM”) the PTAX of the penultimate business day of the quarter was used, in December 2019 it was R$4.0307 and in June 2020 it was R$5.4416, with an increase of 35%. These market movements caused a negative impact on the mark-to-market hired hedge position.

This analysis assumes that all other variables, particularly, the interest rates, remains constant. The other scenarios considered the appreciation/depreciation of the Brazilian real against the U.S.$. at the rates of 25% and 50%, before taxes, from the base scenario of June 30, 2020.

It is important to mention that the impact caused by fluctuations in the exchange rate, whether positive or negative, will also affect the hedged asset. Therefore, even though there was a negative impact on the fair value of derivative transactions in the last quarters due to the COVID-19 pandemic, this impact was offset by the positive impact on the Company's cash flow. In addition, considering that hedge contracts are limited by the policy in a maximum of 75% of the total exposure in U.S. Dollars, the exchange rate devaluation will always benefit, in a net way, the Company's cash generation.

The following table set forth the potential impacts assuming these scenarios:

	June 30,
	2020
	Effect on profit or loss and equity
		Possible	Remote	Possible	Remote
	Probable	(+25%)	(+50%)	(-25%)	(-50%)
	5.4416	6.802	8.1624	4.0812	2.7208
Financial instruments derivatives
Derivative options	(2,955,980)	(4,195,471)	(8,658,160)	3,740,215	7,973,398
Derivative Non-Deliverable Forward (‘NDF’)	(29,511)	(33,907)	(67,814)	33,908	67,815
Derivative swaps	(8,526,926)	(5,279,964)	(10,559,931)	5,279,972	10,559,940

4.4.2.Interest rate risk management

Fluctuations in interest rates may imply effects of increased or reduced costs on new loans and operations already contracted.

The Company is constantly looking for alternatives for the use of financial instruments in order to avoid negative impacts on its cash flow.

Considering the extinction of LIBOR over the next few years, the Company is evaluating its contracts with clauses that envisage the discontinuation of the interest rate. Most debt contracts linked to LIBOR have some clause to replace this rate with a reference index or equivalent interest rate and, for contracts that do not have a specific clause, a renegotiation will be carried out between the parties. Derivative contracts linked to LIBOR provide for a negotiation between the parties for the definition of a new rate or an equivalent rate will be provided by the calculation agent.

In the next few years, until the extinction of LIBOR, the Company will work to reflect an equivalent replacement fee in all its contracts.

4.4.2.1.Sensitivity analysis – exposure to interest rates – except financial instruments derivatives

For market risk analysis, the Company uses scenarios to evaluate the sensitivity that variations in operations impacted by the rates: Interbank Deposit Rate (“CDI”), Long Term Interest Rate (“TJLP”), Special System for Settlement and Custody ("SELIC") and the London Interbank Offered Rate (“LIBOR”) may have on its results. The probable scenario represents the amounts already booked, as they reflect the best estimate of the Management.

This analysis assumes that all other variables, particularly exchange rates, remain constant. The other scenarios considered appreciation/depreciation of 25% and 50% in the market interest rates.

The following table set forth the potential impacts in absolute amounts:

	June 30,
	2020
	Effect on profit or loss and equity
	Probable	Possible (25%)	Remote (50%)
CDI
Cash and cash equivalents	358,900	1,929	3,858
Marketable securities	2,213,496	11,898	23,795
Loans and financing	9,919,194	53,316	106,631
TJLP
Loans and financing	1,700,469	21,001	42,002
LIBOR
Loans and financing	25,131,914	18,975	37,949

4.4.2.2.Sensitivity analysis – exposure to interest rates – financial instruments derivatives

This analysis assumes that all other variables, remain constant. The other scenarios considered appreciation/depreciation of 25% and 50% in the market interest rates.

The following table set forth the potential impacts assuming these scenarios:

	June 30,
	2020
	Effect on profit or loss and equity
		Probable	Remote	Probable	Remote
	Probable	(+25%)	(+50%)	(-25%)	(-50%)
CDI
Financial instruments derivatives
Liabilities
Derivative options	(2,955,980)	(46,186)	(91,962)	46,622	93,698
Derivative Non-Deliverable Forward (‘NDF’)	(29,511)	(97)	(195)	99	198
Derivative swaps	(8,526,926)	(27,243)	(53,863)	27,830	56,172
LIBOR
Financial instruments derivatives
Liabilities
Derivative swaps	(8,526,926)	50,308	100,602	(50,308)	(100,630)

4.4.2.3.Sensitivity analysis for changes in the consumer price index of the US economy

For the measurement of the probable scenario, the United States Consumer Price Index (US-CPI) was considered on December 31, 2019. The probable scenario was extrapolated considering an appreciation/depreciation of 25% and 50% in the US-CPI to define the possible and remote scenarios, respectively, in absolute amounts.

	June 30,
	2020
	Impact of an increase/decrease of
	US-CPI on the fair value
	Probable	Possible (25%)	Remote (50%)
Embedded derivative in forestry partnership and standing wood supply agreements	522,073	(117,134)	(238,426)

4.4.3.Commodity price risk management

The Company is exposed to commodity prices that reflect mainly on the pulp sale price in the foreign market. The dynamics of opening and closing production capacities in the global market and the macroeconomic conditions may have an impact on the Company´s operating results.

Through a specialized team, the Company monitors the pulp price and analyses future trends, adjusting the forecast which that aims to assisting preventive measures to properly conduct the different scenarios. There is no liquid financial market to sufficiently mitigate the risk of a material portion of the Company's operations. Price protection operations cellulose available on the market have low liquidity and volume and large distortion in price formation. No relevant changes were observed in relation to pulp prices and future markets related to this index due to the crisis caused by the pandemic of COVID-19.

The Company is also exposed to international oil prices, which is reflected on logistical costs for selling to the export market. In this case, the Company assess, when comprehend necessary, hiring derivative financial instruments to set oil price.

The crisis caused by the COVID-19 pandemic significantly impacted the global demand for oil and its derivatives, which caused a substantial devaluation of the prices of these assets in the spot and future markets, during the first quarter of 2020. In this context, and considering attractive market conditions, the Company increased its oil hedge position in line with its hedge strategy and policies and set a good part of its exposure at levels below the estimated price levels for the 2020 budget.

In the six-month period ended June 30, 2020, a contracted position to hedge its logistics costs was purchased in the amount of U.S.$87,486 (U.S.$0.364 as of December 31, 2019).

4.4.3.1.Commodity price risk management

This analysis assumes that all other variables, except price risk, remain constant. The other scenarios considered appreciation/depreciation of 25% and 50% of oil price in the market.

The following table set forth the potential impacts assuming these scenarios:

	June 30,
	2020
	Impact of an increase/decrease of price risk
	Probable	Possible (25%)	Remote (50%)
Oil derivative	(76,702)	168,646	260,591

4.5.   Derivative financial instruments

The Company determines the fair value of derivative contracts, which differ from the amounts realized in the event of early settlement due to bank spreads and market factors at the time of quotation. The amounts presented by the Company are based on an estimate using market factors and use data provided by third parties, measured internally and compared to calculations performed by external consultants.

Details of derivative financial instruments and their respective calculation methodologies are disclosed in note 4 to the financial statements for the year ended December 31, 2019.

4.5.1.Outstanding derivatives by type of contract, including embedded derivatives

The positions of outstanding derivatives are set forth below:

	Notional value in U.S.$		Fair value
	June 30,	December 31,	June 30,	December 31,
	2020	2019	2020	2019
Instruments contracted with protection strategy
Operational Hedge
Zero Cost Collar	3,365,500	3,425,000	(2,948,115)	67,078
NDF (R$ x US$)	25,000		(29,511)
NDF (US$ x ARS)	5,500		(2,178)
Debt hedge
Interest rate hedge
Swap LIBOR to Fixed (U.S.$)(1)	3,683,333	2,750,000	(1,273,250)	(444,910)
Swap IPCA to CDI (notional in Reais)	843,845	843,845	251,599	233,255
Swap IPCA to Fixed (U.S.$)	121,003	121,003	(172,557)	30,544
Swap CDI x Fixed (U.S.$)(1)	2,676,617	3,115,614	(6,454,249)	(1,940,352)
Pre-fixed Swap to U.S.$ (U.S.$)	350,000	350,000	(637,090)	(33,011)
Hedge de Commodity
Swap US-CPI standing wood (U.S.$)(2)	657,207	679,485	522,073	268,547
Swap Bunker (oil)	87,486	365	(76,617)	(92)
			(10,819,895)	(1,818,941)
Current assets			152,978	260,273
Non-current assets			925,459	838,699
Current liabilities			(4,529,091)	(893,413)
Non-current liabilities			(7,369,241)	(2,024,500)
			(10,819,895)	(1,818,941)

1)The variation is due to the increase in the exchange rate in the six-month period ended June 30, 2020.

2)The embedded derivative refers to swap contracts for the sale of US-CPI variations within the term of the forest partnership and standing wood supply contracts. 

The current contracts and the respective protected risks are set forth below:

I. Swap CDI x Fixed US$: positions in conventional swaps exchanging the variation in the Interbank Deposit rate (“DI”) for a fixed rate in United States Dollars (“US $”). The objective is to change the debt index in Reais to US$, in compliance with the Company's natural exposure of receivables in US$.

II. Swap IPCA x CDI: positions in conventional swaps exchanging variation of the Nacional Index of Price to the Ample Comsumer (“IPCA”) for DI rate. The objective is to change the debt index in Reais, in compliance with the Company's cash position in Reais, which is also indexed to DI.

III. IPCA swap x Fixed US$: positions in conventional swaps exchanging variation of the IPCA for a fixed rate in US$. The objective is to change the debt index in Reais to US$, in compliance with the Company's natural exposure of receivables in US$.

IV. Swap LIBOR x Fixed US$: positions in conventional swaps exchanging post-fixed rate (LIBOR) for a fixed rate in US$. The objective is to protect the cash flow from changes in the US interest rate.

V. Pre Fixed Swap R$ x Fixed US$: positions in conventional swaps a fixed rate in Reais for a fixed rate in US$. The objective is to change the exposure of debts in Reais to US$, in compliance with the Company's natural exposure of receivables in US$.

VI. Zero-Cost Collar: positions in an instrument that consists of the simultaneous combination of purchase of put options and sale of call options of US$, with the same principal and maturity value, with the objective of protecting the cash flow of exports. In this strategy, an interval is established where there is no deposit or receipt of financial margin on position adjustments. The objective is to protect the cash flow of exports against decrease Real.

VII. NDF - Non Deliverable Forward: positions sold in futures contracts of US$ with the objective of protecting the cash flow of exports against the decrease in the Real.

VIII. Swap VLSFO/Brent(oil): oil purchase positions, with the objective of protecting logistical costs related to ocean freight contracts, against the increase in oil prices.

IX. Swap US-CPI:The embedded derivative refers to sale swap contracts of variations of US-CPI within the terms of the forest partnership and standing wood supply contracts.

The COVID-19 pandemic negatively impacted the financial markets and, consequently, caused increased volatility throughout the first semester, devaluing the Real against the US Dollar by 35%, as previously mentioned. The variation in the fair value of derivatives for the six-month period ended June 30, 2020 compared to the fair value measured on December 31, 2019 is explained substantially by this significant devaluation of the local currency. There were also less significant impacts caused by the variation in the Pre, Foreign Exchange Coupon and LIBOR curves in transactions.

It is important to highlight that, the outstanding agreements in the six-month period ended June 30, 2020, are over-the-counter market, without any kind of guarantee margin or early settlement clause forced by changes from mark to market, including possible variations caused by the COVID-19 pandemic.

4.5.2.Fair value by maturity schedule

	June 30,	December 31,
	2020	2019
2020	(2,715,171)	(633,644)
2021	(2,184,320)	98,850
2022	(1,148,302)	(154,734)
2023	(563,163)	185,209
2024	(801,662)	(197,718)
2025	(1,845,634)	(606,827)
2026 onwards	(1,561,643)	(510,077)
	(10,819,895)	(1,818,941)

4.5.3.Outstanding of assets and liabilities derivatives positions

The outstanding derivatives positions are set forth below:

	Notional value			Fair value
		June 30,	December 31,	June 30,	December 31,
	Currency	2020	2019	2020	2019
Debt hedge
Assets
Swap CDI x Fixed (U.S.$)	R$	9,963,450	11,498,565	511	11,673,117
Swap Pre-Fixed to U.S.$ (U.S.$)	R$	1,317,226	1,317,226	122,341	1,478,336
Swap LIBOR x Fixed (U.S.$)	US$	3,683,333	2,750,000	62,489	11,063,970
Swap IPCA x CDI	IPCA	943,055	933,842	251,599	1,093,067
Swap IPCA x U.S.$	IPCA	504,368	499,441		579,307
				436,940	25,887,797
Liabilities
Swap CDI x Fixed (U.S.$)	US$	2,676,617	3,115,614	(6,454,760)	(13,613,469)
Swap LIBOR x Fixed (U.S.$)	US$	350,000	350,000	(759,431)	(1,511,347)
Swap LIBOR x Fixed (U.S.$)	US$	3,683,333	2,750,000	(1,335,739)	(11,508,880)
Swap IPCA x CDI	R$	843,845	843,845		(859,812)
Swap IPCA x U.S.$	US$	121,003	121,003	(172,557)	(548,763)
				(8,722,487)	(28,042,271)
				(8,285,547)	(2,154,474)
Operational hedge
Zero cost collar (U.S.$ x R$)	US$	3,365,500	3,425,000	(2,948,115)	67,078
NDF (R$ x U.S.$)	US$	25,000		(29,511)
NDF (US$ x ARS)		5,500		(2,178)
				(2,979,804)	67,078
Commodity hedge
Swap US-CPI (standing wood)	US$	657,207	679,485	522,073	268,547
Swap Bunker (oil)	US$	87,486	365	(76,617)	(92)
				445,456	268,455
				(10,819,895)	(1,818,941)

4.5.4.Fair value settled amounts

The settled derivatives positions are set forth below:

	June 30,	December 31,
	2020	2019
Operational hedge
Zero cost collar (R$ x U.S.$)	(962,595)	(104,040)
NDF (R$ x U.S.$)	(30,700)	63,571
	(993,295)	(40,469)
Commodity hedge
Swap Bunker (oil)	(36,805)	3,804
	(36,805)	3,804
Debt hedge
Swap CDI x Fixed (U.S.$)	(369,601)	(68,362)
Swap IPCA x CDI	(441,056)	23,024
Swap IPCA x USD	10,054
Swap Pre-Fixed to U.S.$ (U.S.$)	59,351	(26,358)
Swap LIBOR x Fixed (U.S.$)	(62,898)	(27,088)
	(804,150)	(98,784)
	(1,834,250)	(135,449)

4.6.   Fair value hierarchy

For the six-month period ended June 30, 2020, there were no changes between the 3 (three) levels of hierarchy and no transfers between levels 1, 2 and 3 during the periods disclosed.

	June 30,
	2020
	Level 1	Level 2	Level 3	Total
Assets
Fair value through profit or loss
Derivative financial instruments		1,078,437		1,078,437
Marketable securities	825,972	1,387,524		2,213,496
	825,972	2,465,961		3,291,933
Fair value through other comprehensive income
Other investments - CelluForce			25,976	25,976
			25,976	25,976
Biological assets			10,672,724	10,672,724
			10,672,724	10,672,724
Total assets	825,972	2,465,961	10,698,700	13,990,633
Liabilities
Fair value through profit or loss
Derivative financial instruments		11,898,332		11,898,332
		11,898,332		11,898,332
Total liabilities		11,898,332		11,898,332

	December 31,
	2019
	Level 1	Level 2	Level 3	Total
Assets
Fair value through profit or loss
Derivative financial instruments		1,098,972		1,098,972
Marketable securities	1,631,319	4,699,015		6,330,334
	1,631,319	5,797,987		7,429,306
Fair value through other comprehensive income
Other investments - CelluForce			20,048	20,048
			20,048	20,048
Biological assets			10,571,499	10,571,499
			10,571,499	10,571,499
Total assets	1,631,319	5,797,987	10,591,547	18,020,853
Liabilities
Fair value through profit or loss
Derivative financial instruments		2,917,913		2,917,913
		2,917,913		2,917,913
Total liabilities		2,917,913		2,917,913

4.7.   Capital management

The main objective is to strengthen its capital structure, aiming to maintain an adequate financial leverage, and to mitigate risks that may affect the availability of capital in business development.

The Company monitors constantly significant indicator, such as, consolidated financial leverage, which is the ratio of total net debt to its adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (“Adjusted EBITDA”).

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CASH AND CASH EQUIVALENTS

6 Months Ended

Jun. 30, 2020

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS

5.CASH AND CASH EQUIVALENTS

	Average yield	June 30,	December 31,
	p.a. %	2020	2019
Cash and banks	0.40	6,070,196	2,464,097
Cash equivalents
Local currency
Fixed-term deposits (1)	75.34% of CDI	358,900	630,075
Foreign currency
Fixed-term deposits (1)	0.76	4,044,605	154,955
		10,473,701	3,249,127

1) Refers to Time Deposit and Sweep Account applications, maturing up to 90 days.

Time Deposit is a remunerated bank deposit with a specific maturity period.

Sweep Account: is a paid sweep account. At the end of the day, the balance remaining in the account is automatically applied and automatically made available the next business day in the morning.

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MARKETABLE SECURITIES

6 Months Ended

Jun. 30, 2020

MARKETABLE SECURITIES

MARKETABLE SECURITIES

6.MARKETABLE SECURITIES

	Average yield	June 30,	December 31,
	p.a. %	2020	2019
In local currency
Investment funds	25.61% of CDI	6,587	6,683
Private funds	93.31% of CDI	12,668	1,431,303
Public titles measured at fair value through profit or loss	93.31% of CDI	825,972	1,631,319
Private Securities (Compromised)	100.00% of CDI	1,185,333	3,081,326
Private Securities (Compromised) - Escrow Account (1)	102.00% of CDI	182,936	179,703
		2,213,496	6,330,334
Current		2,030,560	6,150,631
Non-Current		182,936	179,703

1)   Refers to the guarantee account, which will be released only after obtaining the applicable governmental approvals and compliance by the Company with the precedent conditions to the conclusion of the Losango Project provided for in the agreement entered with CMPC Celulose Riograndense SA ("CMPC"). The Losango Project was a transaction to buy and sell lands and forests involving Fibria and CMPC, entered into in December 2012.

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TRADE ACCOUNTS RECEIVABLE

6 Months Ended

Jun. 30, 2020

TRADE ACCOUNTS RECEIVABLE

TRADE ACCOUNTS RECEIVABLE

7.TRADE ACCOUNTS RECEIVABLE

7.1.Breakdown of balances

	June 30,	December 31,
	2020	2019
Domestic customers
Third parties	888,372	1,027,034
Related parties (Note 11) (1)	35,394	23,761
Foreign customers
Third parties	2,891,501	2,027,018
(-) Expected credit losses	(52,392)	(41,996)
	3,762,875	3,035,817

1)The balance refers to transactions with Bexma, Bizma, Ecofuturo, Ensyn and Ibema, in the domestic market, which are not eliminated as there is no control of the operations of these entities by the Company.

The Company performs factoring transactions for certain customers’ receivables where, substantially all risks and rewards related to these receivables are transferred to the counterpart, so that these receivables are derecognized from accounts receivable in the balance sheet. This transaction refers to an additional cash generation opportunity and may be discontinued at any time without significant impact on the Company's operation and is therefore classified as a financial asset measured at amortized cost. The impact of these factoring transactions on the accounts receivable in the balance sheet for the six-month period ended June 30, 2020, is R$4,968,024 (R$3,544,625 as of December 31, 2019).

7.2.    Breakdown of trade accounts receivable by maturity

	June 30,	December 31,
	2020	2019
Current	3,236,279	2,552,459
Overdue
Up to 30 days	324,675	180,909
From 31 to 60 days	72,830	148,388
From 61 to 90 days	23,836	20,448
From 91 to 120 days	15,518	20,680
From 121 to 180 days	10,844	17,899
More than 180 days	78,893	95,034
	3,762,875	3,035,817

7.3.    Rollforward of the expected credit losses

	June 30,	December 31,
	2020	2019
Beginning balance	(41,996)	(37,179)
Business combination		(5,947)
Addition	(10,250)	(18,650)
Reversal	187	6,364
Write-off	2,117	13,383
Exchange rate variation	(2,450)	33
Ending balance	(52,392)	(41,996)

The Company maintains guarantees for overdue securities in its commercial operations, through credit insurance policies, letters of credit and other guarantees. These guarantees avoid the need to recognize expected credit losses, in accordance with the Company's credit policy.

7.4.Main customers

The Company has 1  (one) customer for 9.6% of net sales of pulp segment for the six-month period ended June 30, 2020 (1  (one) customer for 10% of net sales of pulp segment as of December 31, 2019). 

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INVENTORIES

6 Months Ended

Jun. 30, 2020

INVENTORIES

INVENTORIES

8.INVENTORIES

	June 30,	December 31,
	2020	2019
Finished goods
Pulp
Domestic (Brazil)	430,958	575,335
Foreign	1,407,928	2,229,206
Paper
Domestic (Brazil)	372,952	199,635
Foreign	118,701	70,199
Work in process	98,037	75,377
Raw material	1,300,430	1,047,433
Spare parts and other	477,772	488,410
	4,206,778	4,685,595

Inventories are net of estimated losses as set forth below in note 8.1.

8.1.Rollforward of estimated losses

	June 30,	December 31,
	2020	2019
Beginning balance	(106,713)	(33,195)
Business combination		(11,117)
Addition (1)	(33,653)	(111,077)
Reversal	1,033	9,734
Write-off (2)	71,351	38,942
Ending balance	(67,982)	(106,713)

1)The estimated losses, in the six-month period ended June 30, 2020, refers substantially to the raw material in the amount of R$27,326  (R$57,384 as of December 31, 2019).

2)    The write-off of inventory, in the six-month period ended June 30, 2020, refers mainly to the amounts of (i) finished pulp product of  R$31,088 (R$666 as of December 31, 2019) and (ii) raw material of R$32,600 (R$26,083 as of December 31, 2019).

For the six-month period ended June 30, 2020, there were no inventory items pledged as collateral (there were no inventory items pledged as collateral as of December 31, 2019).

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RECOVERABLE TAXES

6 Months Ended

Jun. 30, 2020

RECOVERABLE TAXES

RECOVERABLE TAXES

9.RECOVERABLE TAXES

	June 30,	December 31,
	2020	2019
IRPJ/CSLL – prepayments and withheld taxes	562,835	575,351
PIS/COFINS – on acquisition of property, plant and equipment (1)	133,182	61,376
PIS/COFINS – operations	303,636	507,919
PIS/COFINS – exclusion ICMS (2)	128,115	128,115
ICMS – on acquisition of property, plant and equipment (3)	109,045	115,560
ICMS – operations (4)	1,500,659	1,515,840
Reintegra program (5)	119,580	108,657
Other taxes and contributions	22,680	18,758
Provision for loss of ICMS credits (6)	(1,279,208)	(1,304,329)
Provision for loss of PIS/COFINS credits		(21,132)
	1,600,524	1,706,115
Current	888,245	997,201
Non-current	712,279	708,914

1)   Social Integration Program (“PIS”) and Social Security Funding Contribution (“COFINS”): Credits whose realization is in connection with depreciation year of the corresponding asset.

2)    The Company filed legal actions claiming the exclusion of ICMS from the PIS and COFINS contribution tax basis, in relation to certain operations for certain periods starting from March 1992.

Regarding this subject, the Federal Supreme Court (“STF”) initially decided on March 15th, 2017, that ICMS is not included in the tax basis of the aforementioned contributions. The Federal Government made an appeal (“Embargos de Declaração”) in October 2017, requesting the reversal of the Supreme Court’s initial decision among other items. The appeal has yet to be judged.

Based on the Supreme Court’s initial decision and the legal opinion provided by external legal consultants, the Company believes that the probability of the Supreme Court altering its decision is remote. The Company thus started to exclude the ICMS from the tax basis of the referred contributions since August 2018, a practice also supported by court decisions.

For certain PIS and COFINS credits to be recovered, the Company has received final favorable court decisions. The balance recognized in the statement of income (loss) in 2019 within other operational results, regarding certain claims for the calculation period from 2006 to July 2018. The Company has estimated the amount attributable to these claims based on the available relevant fiscal documents, and this amount is subject to adjustments to be recorded by management in the future periods.

The Company has additional claims for which a final decision has not been received and for which no asset or gain have been recorded.

3)   Tax on Sales and Services (“ICMS”): Credits from the acquisition of property, plant and equipment are recovered on a linear basis over a four period, from the acquisition date, in accordance with the relevant regulation, ICMS Control on Property, Plant and Equipment (“CIAP”).

4)   ICMS credits accrued due to the volume of exports and credit generated in operations of entry of products:  Credits are concentrated in the state of Maranhão, Espírito Santo, Bahia and Mato Grosso do Sul, where the Company realizes the credits through sale of credits to third parties, after approval from the State Ministry of Finance. Credits are also being realized through consumption in its consumer goods (tissue) operations in the domestic market that are already operational in Maranhão.

5)   Special Regime of Tax Refunds for Export Companies ("Reintegra"): Reintegra is a program that aims to refund the residual costs of taxes paid throughout the exportation chain to taxpayers, to make them more competitive in foreign markets.

6)   Includes the provision for discount on sale to third parties of the accumulated ICMS credit in Maranhão and the provision for full loss of the low probability of realization of the units of Espírito Santo, Bahia and Mato Grosso do Sul due to the difficulty of its realization.

9.1.Rollforward of provision for loss

	ICMS	PIS/COFINS	Total
Balance as of December 31, 2018	(10,792)		(10,792)
Business combination	(1,211,109)		(1,211,109)
Addition	(82,428)	(21,132)	(103,560)
Balance as of December 31, 2019	(1,304,329)	(21,132)	(1,325,461)
Addition	(48,151)		(48,151)
Write-off	73,272	21,132	94,404
Balance as of June 30, 2020	(1,279,208)		(1,279,208)

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ADVANCE TO SUPPLIERS

6 Months Ended

Jun. 30, 2020

ADVANCE TO SUPPLIERS

ADVANCE TO SUPPLIERS

10.ADVANCE TO SUPPLIERS

	June 30,	December 31,
	2020	2019
Forestry development program	1,149,832	1,087,149
Advance to suppliers	106,636	170,481
	1,256,468	1,257,630
Current	106,636	170,481
Non-current	1,149,832	1,087,149

In the financial statements for the year ended December 31, 2019, additional information on advances was disclosed, which did not change during the period.

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RELATED PARTIES

6 Months Ended

Jun. 30, 2020

RELATED PARTIES

RELATED PARTIES

11.RELATED PARTIES

The Company's commercial and financial operations with controlling shareholder and Companies owned by controlling shareholder Suzano Holding S.A. ("Suzano Group"). For transactions with related parties, it is determined that the usual market prices and conditions for these transactions are observed, as well as the corporate governance practices adopted by the Company and those recommended and/or required by the legislation.

For the six-month period ended June 30, 2020, there were no material changes in the terms of the agreements, deal and transactions entered into, nor were there any new contracts, agreements or transactions of different natures entered into between the Company and its related parties in relation to those disclosed in the annual financial statements for the year ended December 31, 2019.

11.1.Balances recognized in assets and liabilities

		Balances receivable (payable)
		June 30,	December 31,
	Nature	2020	2019
Transactions with controlling shareholders
Suzano Holding S.A.	Granting of guarantees and administrative expenses	5	3
		5	3
Transactions with companies of the Suzano Group and other related parties
Management	Reimbursement for expenses	—	(1)
Bexma Participações Ltda.	Reimbursement for expenses	2	1
Bizma Investimentos Ltda.	Reimbursement for expenses	1	1
Ensyn Technologies	Reimbursement for expenses	2,004	—
Ibema Companhia Brasileira de Papel	Sale of pulp	33,382	23,755
Ibema Companhia Brasileira de Papel	Purchase of products	(1,448)	(2,467)
Instituto Ecofuturo - Futuro Para o Desenvolvimento Sustentável	Social services	—	(9)
		33,941	21,280
		33,946	21,283
Assets
Trade accounts receivable		35,394	23,761
Liabilities
Trade accounts payable		(1,448)	(2,478)
		33,946	21,283

11.2.Amounts transacted in the period

		Expenses (income)
		June 30,	June 30,
	Nature	2020	2019
Transactions with controlling shareholders
Suzano Holding S.A.	Granting of guarantees and administrative expenses	(2,459)	(3,285)
		(2,459)	(3,285)
Transactions with companies of the Suzano Group and other related parties
Management	Reimbursement for expenses	(831)	(595)
Bexma Participações Ltda.	Reimbursement for expenses	7	3
Bizma Investimentos Ltda.	Reimbursement for expenses	7	6
Fundação Arymax	Reimbursement for expenses	1	—
Ibema Companhia Brasileira de Papel	Sale of paper	48,829	66,769
Ibema Companhia Brasileira de Papel	Purchase of products	(2,241)	(3,415)
Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável	Social services	(2,379)	(2,538)
IPFL Holding S.A	Reimbursement for expenses	2	1
Lazam MDS Corretora e Adm. Seguros S.A.	Sale of paper	—	4
Mabex Representações e Participações Ltda.	Aircraft services	(50)	(100)
Nemonorte Imóveis e Participações Ltda.	Real estate advisory	(99)	(225)
		43,246	59,910
		40,787	56,625

11.3.Management compensation

Expenses related to the compensation of key management personnel, which include the Board of Directors, Fiscal Council and Board of Statutory Executive Officers, recognized in the statement of income for the period, are set for the below:

	June 30,	June 30,
	2020	2019
Short-term benefits
Salary or compensation	22,866	19,010
Direct and indirect benefits	450	787
Bonus	3,250	5,781
	26,566	25,578
Long-term benefits
Share-based compensation plan	45,529	45,051
	45,529	45,051
	72,095	70,629

Short-term benefits include fixed compensation (salaries and fees, vacation, mandatory bonus and “13th salary” bonus), payroll charges (Company share of contributions to social security – INSS) and variable compensation such as profit sharing, bonus and benefits (company car, health plan, meal voucher, market voucher, life insurance and private pension plan).

Long-term benefits include the stock option plan and phantom shares for executives and key members of the Management, in accordance with the specific regulations as disclosed in Note 22.

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INCOME AND SOCIAL CONTRIBUTION TAXES

6 Months Ended

Jun. 30, 2020

INCOME AND SOCIAL CONTRIBUTION TAXES

INCOME AND SOCIAL CONTRIBUTION TAXES

12.INCOME AND SOCIAL CONTRIBUTION TAXES

The Company and its wholly-owned subsidiaries located in Brazil are subject to the tax regime based on taxable income. The wholly-owned subsidiaries located abroad are taxed in their respective jurisdictions, according to local regulations.

In Brazil, the Law nº. 12,973/14 revoked article 74  of Provisional Measure nº.2,158/01 and determines that the parcel of the adjustment of the value of the investment in wholly-owned subsidiary, direct and indirect, located abroad, equivalent to the profit earned by it before income tax, except for exchange rate variation, must be added in the determination of taxable income and the social contribution calculation basis of the controlling entity located in Brazil, at the each period ended.

Management’s Company believes on the validity of the provisions of international treaties entered into Brazil to avoid double taxation. In order to guarantee its right to non-double taxation, the Company filed a lawsuit in April 2019, which aims at a non-double taxation, in Brazil, of profit earned by its wholly-owned subsidiary located in Austria, according to Law n°. 12,973/14. Due to the preliminary injunction granted in favor of the Company in the records of the aforementioned lawsuit, the Company decided to not to add the profit from Suzano International Trading GmbH, located in Austria, in determining of taxable income and social contribution basis of the net profit of the Company for the six-month period ended June 30, 2020. There is no provision for tax related to the profit of such wholly-owned subsidiary in 2020.

12.1.Deferred income and social contribution taxes

	June 30,	December 31,
	2020	2019
Tax loss carryforwards	772,460	600,249
Negative tax base	226,230	146,346
Provision for judicial liabilities	255,947	265,571
Operating provisions and other losses	908,399	914,696
Exchange rate variation (1)	7,418,386	2,001,942
Losses on derivatives (“MtM”) (1)	3,678,024	618,427
Fair value adjustment on business combination – Amortization	713,180	713,656
Unrealized profit on inventories	357,240	293,322
Lease	330,669	22,044
Assets temporary differences	14,660,535	5,576,253
Goodwill - Tax benefit on unamortized goodwill	351,107	216,857
Property, plant and equipment - deemed cost adjustment	1,487,102	1,506,220
Accelerated tax depreciation	1,068,735	1,113,200
Borrowing cost	118,071	104,549
Fair value of biological assets	123,668	53,502
Tax provision on results of subsidiaries abroad	585,516	463,850
Fair value adjustment on business combination  – Deferred taxes, net	485,994	502,347
Tax credits - gains in tax lawsuit (ICMS from the PIS/COFINS calculation basis)	43,559	43,559
Other temporary differences	17,491	17,004
Liabilities temporary differences	4,281,243	4,021,088
Non-current assets	10,454,646	2,134,040
Non-current liabilities	75,354	578,875

1)The variation is due to the increase in the exchange rate in the six-month period ended June 30, 2020.

Except for tax loss carryforwards, the negative basis of social contribution and accelerated depreciation are only achieved by the Income Tax (“IRPJ”), other tax bases were subject to both taxes.

The breakdown of accumulated tax losses and social contribution tax loss carryforwards is set forth below:

	June 30,	December 31,
	2020	2019
Tax loss carry forward	3,089,840	2,400,998
Social contribution tax loss carryforward	2,513,672	1,626,064

The rollforward of net balance of deferred income tax is set for the below:

	June 30,	December 31,
	2020	2019
Beginning balance	1,555,165	(1,029,135)
Business combination	—	1,034,842
Tax loss	172,211	270,559
Tax loss carryforwards	79,884	139,719
(Reversal)/provision for judicial liabilities	(9,624)	31,262
Operating provisions and other losses	(6,297)	(21,757)
Exchange rate variation (1)	5,416,444	552,421
Derivative losses (“MtM”)(1)	3,059,597	319,860
Fair value adjustment on business combination – Amortization	15,879	699,527
Unrealized profit on inventories	63,918	65,492
Lease	308,625	(3,274)
Tax benefit on unamortized goodwill	(134,250)	(203,696)
Property, plant and equipment - Deemed cost	19,118	46,359
Accelerated depreciation	44,465	82,982
Borrowing cost	(13,522)	44,727
Fair value of biological assets	(70,166)	(60,778)
Tax provision on results of subsidiaries abroad	(121,666)	(351,485)
Tax credits - gains in tax lawsuit (ICMS from the PIS/COFINS calculation basis)	—	(43,559)
Other temporary differences	(489)	(18,901)
Ending balance	10,379,292	1,555,165

1)The variation is due to the increase in the exchange rate in the six-month period ended June 30, 2020.

12.2.Reconciliation of the effects of income tax and social contribution on profit or loss

	June 30,		June 30,
	2020		2019
Loss before taxes	(24,236,648)		(789,205)
Income tax and social contribution benefit (expense) at statutory nominal rate of 34%	8,240,460		268,330
Tax effect on permanent differences
Taxation (difference) on profit of wholly-owned subsidiaries abroad (1)	746,640		21,301
Tax incentive - Reduction SUDENE (2)	—		23,216
Equity method	(1,004)		(1,893)
Thin capitalization (3)	(252,808)		(50,437)
Credit related toReintegra Program	3,367		2,988
Tax incentives applicable to income tax (4)	3,925		3,247
Director bonus	(5,508)		(42,682)
Donations / Fines - Other	29,997		35,851
	8,765,069		259,921
Income tax
Current	(57,006)		(113,570)
Deferred	6,486,044		299,726
	6,429,038		186,156
Social Contribution
Current	(823)		(78,008)
Deferred	2,336,854		151,773
	2,336,031		73,765
Income and social contribution benefits (expenses) on the period	8,765,069		259,921
Effective rate of income and social contribution tax expenses	36.16	%	32.93	%

1)The effect of the difference in taxation of subsidiaries is substantially due to the difference between the nominal rates of Brazil and subsidiaries abroad.

2)Benefit used to reduce 75% of the tax calculated based on the operating profit of the Mucuri / BA and Imperatriz / MA facilities.

3)The Brazilian thin capitalization rules establish that interest paid or credited by a Brazilian entity to a related party may only be deducted for income tax purposes if the interest expense is viewed as necessary for the activities of the local entity and when determined limits and requirements are met. On June 30, 2020 the Company did not meet all limits and requirements, therefore a provision for tax payment was recorded.

4)Income tax deduction amount referring to the use of the PAT (“Worker Feeding Program”) benefit and donations made in cultural and sports projects.

12.3.Tax incentives

Company has a tax incentive for the partial reduction of the income tax obtained by the operations carried out in areas of the Northeast Development Superintendency (“SUDENE”) in the Mucuri (BA), Eunápolis – Veracel (BA) and Imperatriz (MA) regions. The IRPJ reduction incentive is calculated based on the activity profit (exploitation profit) and considers the allocation of the operating profit by the incentive production levels for each product. The incentive of lines 1 and 2 of Mucuri (BA) facility expire, respectively, in 2024 and 2027, Imperatriz facility expire in 2024 and Eunápolis – Veracel (BA) facility expire in 2025.

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BIOLOGICAL ASSETS

6 Months Ended

Jun. 30, 2020

BIOLOGICAL ASSETS

BIOLOGICAL ASSETS

13.BIOLOGICAL ASSETS

The rollforward of biological assets is set forth below:

Balances on December 31, 2018	4,935,905
Business combination	4,579,526
Addition	2,849,039
Depletion	(1,905,118)
Gain on fair value adjustment	185,399
Disposal	(23,764)
Other write-offs	(49,488)
Balances on December 31, 2019	10,571,499
Addition	1,401,424
Depletion	(1,433,410)
Transfers	678
Gain on fair value adjustment	173,733
Disposal	(39,910)
Other write-offs	(1,290)
Balances on June 30, 2020	10,672,724

For the six-month period ended June 30, 2020, the Company reassessed the main assumptions used in measuring the fair value of biological assets. The fair value of forests is determined by the income method (“income approach”) using the discounted cash flow model.

The calculation of fair value of the biological assets falls under Level 3 in the hierarchy set forth in IFRS 13 — Measurement of Fair Value, due to the complexity and structure of calculation.

The main assumptions, IMA, discount rate, and selling price stand out as being the most sensitive where increases or reductions in these assumptions generate significant gains or losses in the measurement of fair value.

The assumptions used in measurement of the fair value of biological assets were:

i)Average cycle of forest formation of 6 and 7 years;

ii)Effective area of forest from the 3rd year of planting;

iii)Average annual increment consists of the estimated volume of production of wood with bark in m3 per hectare, ascertained based on the genetic material used in each region, silvicultural practices and forest management, production potential, climate factors and ground conditions;

iv)The estimated average standard cost per hectare includes expenses on silvicultural and forest management applied to each year of formation of the biological cycle of forests, plus costs of land lease agreements and opportunity cost of own land;

v)The average gross selling prices of eucalyptus were based on specialized research on transactions carried out by the Company with independent third parties and/or weighted by the cost of formation plus cost of capital plus estimated margin for regions where there is no market benchmark available; and

vi)The discount rate used in cash flows is measured based on capital structure and other economic assumptions in an independent market participant in the sale of standing wood (forests). 

The following table discloses the measurement of the premises adopted:

	June 30,
	2020
Planted useful area (hectare)	960,109
Mature assets	107,861
Immature assets	852,248
Average annual growth (IMA) - m3 /hectare /year	36.16
Average gross sale price of eucalyptus - R$/m3	66.86
Discount rate - %	8.6%

The pricing model considers net cash flows, after deduction of taxes on profit at the applicable rates.

The fair value adjustment recognized in year ended June 30, 2020 is justified by variation of indicators mentioned above, which combined resulted in a positive variation of R$173,733. The fair value adjustment was recognized under other operating income (expense), net.

	June 30,
	2020
Physical changes	384,574
Price	(210,841)
	173,733

The Company manages the financial risks related to agricultural activities in a preventive manner. To reducing risks from edaphoclimatic factors, the weather is monitored through meteorological stations and, in the event of pests and diseases, our Department of Forestry Research and Development, an area specialized in physiological and phytosanitary aspects, has procedures to diagnose and act rapidly against any occurrences and losses.

The Company has no biological assets pledged in the year ended June 30, 2020.

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INVESTMENTS

6 Months Ended

Jun. 30, 2020

INVESTMENTS

INVESTMENTS

14.INVESTMENTS

14.1.Investments breakdown

	June 30,	December 31,
	2020	2019
Investments in associates and joint ventures	132,625	140,934
Goodwill	166,819	161,464
Other investments evaluated at fair value through other comprehensive income	25,976	20,048
	325,420	322,446

14.2.Investments in associates and joint ventures

Information of joint ventures as of			Company participation
June 30,
2020			In equity		In the income of the period
	Participation
	equity		June 30,	December 31,	June 30,	June 30,
	(%)		2020	2019	2020	2019
Associate
Ensyn Corporation	25.30	%	2,995	21,437	(13,086)
Spinnova Oy	24.06	%	84,002	86,969	(2,966)	(541)
			86,997	108,406	(16,052)	(541)
Joint ventures
Ibema Companhia Brasileira de Papel			40,139	28,487	11,651	6,175
F&E Technologies LLC			5,489	4,041	1,449	(65)
			45,628	32,528	13,100	6,110
			132,625	140,934	(2,952)	5,569

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PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Jun. 30, 2020

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

15.PROPERTY, PLANT AND EQUIPMENT

			Machinery,
			equipment	Work in
	Lands	Buildings	and facilities	progress	Other (1)	Total
Average rate %		3	5		10 to 20
Cost
Balance as of December 31, 2018	5,104,717	3,058,520	16,441,031	466,156	332,089	25,402,513
Additions	337,932	1,943	136,855	1,477,420	47,524	2,001,674
Write-offs	(92,705)	(36,276)	(172,458)	(1,462)	(34,858)	(337,759)
Business combination	2,151,338	3,918,552	20,255,811	425,868	454,759	27,206,328
Fair value adjustment - Fibria	2,637,671	1,502,021	5,109,939		195,684	9,445,315
Fair value adjustment – Facepa			3,072	(883)	(111)	2,078
Fair value adjustment – Ibema			5,448			5,448
Transfer and other (2)	182,621	323,029	740,879	(1,397,398)	(61,761)	(212,630)
Balance as of December 31, 2019	10,321,574	8,767,789	42,520,577	969,701	933,326	63,512,967
Additions		1,660	100,769	452,661	4,036	559,126
Write-offs	(20,032)	(1,427)	(14,685)	(5)	(5,162)	(41,311)
Transfer and other (2)	36,733	391,322	232,284	(760,831)	68,949	(31,543)
Balance as of June 30, 2020	10,338,275	9,159,344	42,838,945	661,526	1,001,149	63,999,239
Depreciation
Balance as of December 31, 2018	—	(906,616)	(7,248,143)	—	(227,495)	(8,382,254)
Additions	—	(255,888)	(2,123,193)	—	(91,170)	(2,470,251)
Write-offs	—	26,886	115,732	—	13,944	156,562
Business combination	—	(1,804,967)	(9,552,825)	—	(249,087)	(11,606,879)
Additions - Fair value adjustment from business combination - Fibria	—	(63,495)	(543,468)	—	(17,364)	(624,327)
Fair value adjustment from business combination - Facepa	—	(5,742)	(6,481)	—	(95)	(12,318)
Fair value adjustment from business combination - Ibema	—		(593)	—		(593)
Transfer and other (2)	—	29,906	508,585	—	9,547	548,038
Balance as of December 31, 2019	—	(2,979,916)	(18,850,386)	—	(561,720)	(22,392,022)
Additions		(138,227)	(1,191,572)		(50,612)	(1,380,411)
Write-offs		549	9,774		5,067	15,390
Balance as of June 30, 2020		(3,117,594)	(20,032,184)		(607,265)	(23,757,043)
Book value
Balance as of December 31, 2019	10,321,574	5,787,873	23,670,191	969,701	371,606	41,120,945
Balance as of June 30, 2020	10,338,275	6,041,750	22,806,761	661,526	393,884	40,242,196

1)Includes vehicles, furniture and utensils and computer equipment.

2)Includes transfers carried out between the items of property, plant and equipment, intangible assets and inventories (On December 31, 2019 includes right of use).

For the six-month period ended June 30, 2020, the Company did not identify any impairment of property, plant and equipment.

15.1.    Items pledged as collateral

For the six-month period ended June 30, 2020, property, plant and equipment items that are pledge as collateral for loans transactions and lawsuits, consisting substantially of the units of, [Imperatriz, Limeira, Mucuri, Suzano and Três Lagoas totaled R$21,419,039 (R$24,985,741 consisting substantially of the units of Imperatriz, Limeira, Mucuri and Suzano as of December 31, 2019).

15.2.    Capitalized expenses

For the six-month period ended June 30, 2020, the Company capitalized interest in the amount of R$7,940  (R$1,032 as of June 30, 2019). The weighted average interest rate utilized to determine the capitalized amount was 9.21% p.a. (9.08% p.a. as of June 30, 2019).

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INTANGIBLE

6 Months Ended

Jun. 30, 2020

INTANGIBLE

INTANGIBLE

16.INTANGIBLE

16.1.Goodwill and intangible assets with indefinite useful life

	June 30,	December 31,
	2020	2019
Vale Florestar	45,435	45,435
FACEPA	119,332	119,332
Fibria	7,897,051	7,897,051
Other (1)	1,196	1,196
	8,063,014	8,063,014

1) Refer to other intangible assets with indefinite useful life such as servitude and electricity.

The goodwill is based on expected future profitability supported by valuation reports, after purchase price allocation.

Goodwill are allocated to cash-generating units as presented in Note 28.4.

As a result of disclosed in note 1.2.1., which deals with the effects arising from COVID19, the Company reassessed the main assumptions used in the impairment test of the intangible disclosed in the financial statements of December 31, 2019 and concluded that there were no significant changes in the assumptions compared to the six-month period ended June 30, 2020. Therefore, Management understands that it is not necessary to carry out the impairment test of the intangible in this period.

For the six-month period ended June 30, 2020, the Company did not identify any impairment of intangible.

 16.2.Intangible assets with determined useful life

		June 30,	December  31,
		2020	2019
Beginning balance		9,649,789	180,311
Business combination			308,681
Additions		513	17,715
Fair value adjustment on business combination			702
Amortization		(491,593)	(74,332)
Fair value adjustment on business combination			10,159,550
Port concession			54,470
Lease agreements			44,371
Supplier agreements			172,094
Port services agreements			694,590
Cultivars			142,744
Customer portfolio			9,030,779
Software			20,502
Fair value adjustment on business combination - Amortization			(956,577)
Port concession			(2,147)
Lease agreements			(7,499)
Supplier agreements			(72,097)
Port services agreements			(29,362)
Cultivars			(20,392)
Customer portfolio			(820,980)
Software			(4,100)
Fair value adjustment on business combination - Amortization			(15,454)
Exchange rate variation			2,930
Transfers and others		3,374	26,263
Ending balance		9,162,083	9,649,789
	Average
Represented by	rate %
Non-compete agreement	5	1,810	2,150
Research and development agreement	19	70,457	74,643
Ports concession	4	214,431	219,256
Lease agreements	17	33,122	36,871
Supplier agreements	13 to 100	92,590	99,997
Port service contracts	4	656,166	665,228
Cultivars	14	112,156	122,352
Development and implementation of systems	20	1,534	1,687
Trademarks and patents	5 to 10	17,368	20,649
Customer portfolio	2.5 to 9	7,801,989	8,217,192
Supplier agreements	5	46,406	51,562
Software	20	107,277	135,668
Others		6,777	2,534
		9,162,083	9,649,789

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TRADE ACCOUNTS PAYABLE

6 Months Ended

Jun. 30, 2020

TRADE ACCOUNTS PAYABLE

TRADE ACCOUNTS PAYABLE

17.TRADE ACCOUNTS PAYABLE

	June 30,	December 31,
	2020	2019
In local currency
Related party (note 11.1) (1)	1,448	2,478
Third party	1,588,280	1,288,774
In foreign currency
Third party (2)	491,805	1,085,207
	2,081,533	2,376,459

1) The consolidated balance refers to transactions with Ibema, in the domestic market, which are not eliminated in the consolidated as there is no control of the operations of these entities by the Company.

2) The Company had a take or pay agreement with Klabin S.A., under conditions differentiated in terms of volume, exclusivity, guarantees and payment terms in up to 360 days, and prices were practiced under conditions of contractually established. Following the requirements imposed by the European Union's competition authority, the contract with Klabin expired in July 2019. For the six-month period ended June 30, 2020, the amount of R$30,165 in the consolidated refers to purchases of Klabin's pulp.

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LOANS, FINANCING AND DEBENTURES

6 Months Ended

Jun. 30, 2020

LOANS, FINANCING AND DEBENTURES

LOANS, FINANCING AND DEBENTURES

18.LOANS, FINANCING AND DEBENTURES

18.1.Breakdown by type

		Average
		annual	Current		Non-current		Total
		interest rate -	June 30,	December 31,	June 30,	December 31,	June 30,	December 31,
Type	Interest rate	%	2020	2019	2020	2019	2020	2019
In foreign currency
BNDES	UMBNDES	5.93	32,941	26,307	27,165	27,620	60,106	53,927
Bonds (1)	Fixed	5.71	806,695	640,177	36,114,088	27,375,673	36,920,783	28,015,850
Export credits (ACC - pre-payment) (1)	LIBOR/Fixed	1.52	2,735,141	1,994,868	24,141,791	15,431,478	26,876,932	17,426,346
Others			6,445	3,481			6,445	3,481
			3,581,222	2,664,833	60,283,044	42,834,771	63,864,266	45,499,604
In local currency
BNDES	TJLP	7.18	285,382	283,658	1,389,771	1,517,649	1,675,153	1,801,307
BNDES	TLP	9.72	19,036	18,404	431,800	441,233	450,836	459,637
BNDES	Fixed	5.06	33,272	39,325	62,313	77,333	95,585	116,658
BNDES	SELIC	5.50	85,538	78,458	1,076,966	718,017	1,162,504	796,475
FINAME	Fixed	6.43	4,276	4,781	7,917	9,564	12,193	14,345
BNB	Fixed	6.73	35,300	37,815	139,361	156,904	174,661	194,719
CRA (“Agribusiness Receivables Certificates”)	CDI/IPCA	5.53	1,379,045	2,860,938	2,971,744	2,952,451	4,350,789	5,813,389
NCE (Export credit note)	CDI	5.73	65,940	131,914	1,273,045	1,270,065	1,338,985	1,401,979
Rural producer Certificate	CDI	8.62	3,955	5,840	273,440	273,303	277,395	279,143
Export credits (“Pre payment”)	Fixed	8.07	23,276	77,694	1,313,123	1,312,586	1,336,399	1,390,280
FCO (“Central West Fund”), FDCO (“Central West Development Fund”) and FINEP	Fixed	7.99	72,413	76,596	441,912	475,905	514,325	552,501
Others (Revolving Cost, Working capital and Industrial Development Fund (“FDI”) and fair value adjustment on business combination	Fixed	0.40	(52,342)	(62,302)	4,470	4,559	(47,872)	(57,743)
Debentures	CDI	6.27	9,810	9,997	5,413,548	5,412,035	5,423,358	5,422,032
			1,964,901	3,563,118	14,799,410	14,621,604	16,764,311	18,184,722
			5,546,123	6,227,951	75,082,454	57,456,375	80,628,577	63,684,326
Interest on financing			1,019,483	886,886		136,799	1,019,483	1,023,685
Non-current funding			4,526,640	5,341,065	75,082,454	57,319,576	79,609,094	62,660,641
			5,546,123	6,227,951	75,082,454	57,456,375	80,628,577	63,684,326

1) The variation is due to the increase in the exchange rate in the six-month period ended June 30, 2020.

18.2.Rollforward in loans, financing and debentures

	June 30,	December 31,
	2020	2019
Beginning balance	63,684,326	35,737,509
Amounts from the business combination		20,667,096
Reclassification - accounts payable from lease operations		(18,225)
Fundraising	6,700,529	18,993,837
Interest accrued	1,736,775	3,362,250
Exchange rate variation, net	16,364,585	1,781,562
Settlement of principal	(6,224,940)	(13,994,708)
Settlement of interest	(1,682,413)	(2,977,957)
Amortization of fundraising costs	39,055	185,807
Other	10,660	(52,845)
Ending balance	80,628,577	63,684,326

18.3.Breakdown by maturity – non current

	2021	2022	2023	2024	2025	2026	2027 onwards	Total
In foreign currency
BNDES - Currency basket	2,264	13,583	11,318					27,165
Bonds				3,266,344	3,238,123	3,822,186	25,787,435	36,114,088
Export credits (ACC pre-payment)	92,600	2,536,851	10,058,960	7,536,819	3,425,584	490,977		24,141,791
	94,864	2,550,434	10,070,278	10,803,163	6,663,707	4,313,163	25,787,435	60,283,044
In local currency
BNDES – TJLP	136,711	268,806	268,026	239,884	292,572	169,102	14,670	1,389,771
BNDES – TLP	9,433	18,866	18,866	18,866	17,618	20,120	328,031	431,800
BNDES – Fixed	14,475	24,560	18,599	4,679				62,313
BNDES – Selic	48,712	94,876	118,336	110,275	234,525	197,061	273,181	1,076,966
FINAME	1,908	2,786	1,656	1,198	369			7,917
BNB	17,569	33,081	35,199	33,085	10,258	10,169		139,361
CRA (“Agribusiness Receivables Certificates”)		1,512,680	1,459,064					2,971,744
Export credit note					640,800	632,245		1,273,045
Rural producer certificate					137,500	135,940		273,440
Export credits (“Pre payment”)				1,313,123				1,313,123
FCO (“Central West Fund”), FDCO (“Central West Development Fund”) and FINEP	33,993	67,986	67,986	67,986	67,986	67,986	67,989	441,912
Others (Revolving costs, working capital, FIDC and FDI)	4,470							4,470
Debentures					2,340,550	2,325,659	747,339	5,413,548
	267,271	2,023,641	1,987,732	1,789,096	3,742,178	3,558,282	1,431,210	14,799,410
	362,135	4,574,075	12,058,010	12,592,259	10,405,885	7,871,445	27,218,645	75,082,454

18.4.Breakdown by currency

	June 30,	December 31,
	2020	2019
Brazilian Reais	16,751,206	18,170,261
U.S. Dollar	63,817,265	45,460,138
Currency basket	60,106	53,927
	80,628,577	63,684,326

18.5.Fundraising costs

The fundraising costs are amortized based on terms agreements and effective interest rate.

			Balance to be amortized
			June 30,	December 31,
Nature	Cost	Amortization	2020	2019
Bonds	343,642	95,226	248,416	201,467
CRA and NCE	125,222	85,955	39,267	47,443
Export credits (ACC pre-payment)	102,769	33,875	68,894	40,382
Debentures	24,467	6,915	17,552	19,065
BNDES (“IOF”) (1)	62,658	18,435	44,223	38,447
Others	18,147	13,934	4,213	4,590
	676,905	254,340	422,565	351,394

1) Tax on Financial Operations

18.6.Relevant transactions entered into the period

18.6.1.Export Prepayment Agreements ("EPP")

On February 14, 2020, Suzano, through its wholly-owned subsidiaries Suzano Pulp and Paper Europe S.A., Suzano Austria GmbH and Fibria Overseas Finance Ltd., entered into a syndicated export prepayment agreement in the amount of US$850,000 (equivalent, on the transaction date, to R$3,672,259), with a term of six years and maturity in February 2026, grace period of 4 years, quarterly interest payments of 1.15% p.a. plus LIBOR 3M. This transaction is fully and unconditionally guaranteed by Suzano S.A.

18.6.2.Revolving credit facility

On April 2, 2020, the Company through its wholly-owned subsidiary Suzano Pulp and Paper Europe S.A, disbursement of US$500,000 (equivalent, on the transaction date, to R$2,638,221) of its revolving credit facility maintained with certain financial institutions with quarterly payments of 1.30% plus quarterly LIBOR and maturity in February 2024. The disbursement is in line with the preventive measures that the Company has been taking to mitigate eventual impacts resulting from the COVID-19 pandemic and aims to bring even more strength to the liquidity position of the Company.

18.6.3.Brazilian National Bank for Economic and Social Development (BNDES)

On June 29, 2020, the Company raised with BNDES the amount of R$400,000 indexed to the Selic interest rate, plus fixed interest of 1.96% p.a., with an average term of 124 months, maturing in February 2040. This funding is in line with the company's strategy of lengthening of the average of its obligations and efficiency in servicing its debt (cost of debt).

18.7.Relevant transactions settled in the period

18.7.1.Export Prepayment Agreements (“EPP”)

On February 14, 2020, Suzano, through its wholly-owned subsidiary Suzano Pulp and Paper Europe S.A., voluntarily prepaid the export prepayment agreement in the amount of U.S.$755,864 (equivalent, on the transaction date, to R$3,240,229), with quarterly interest payments of 1.15% p.a. plus quarterly LIBOR, which was scheduled to mature in February 2023.

18.7.2.Make-whole Senior Notes (“Notes 2021”)

On March 31, 2020, the Company through its wholly-owned subsidiary Suzano Trading Ltd., redeem all of the outstanding of Senior Notes 2021 in the total amount of US$199,864 (equivalent, on the transaction date, to R$1,039,032) considering redemption price of 104.287% plus interest proportional to the period.

18.7.3.Agribusiness Receivables Certificates (CRA)

On April 13, 2020, the Company disbursed the total amount of R$612,779, from this amount R$600,000 was related to the payment of principal and R$12,779 of interest of the Agribusiness Receivables Certificate issued in April 2016, with interest of 98% of the CDI, this payment was made due to the normal maturity of the CRA.

On June 22, 2020, the single installment of the CRA principal of R$880,155, issued in June 2016, with 97% interest on the CDI, matured. The company disbursed R$895,655 as principal (R$880,155) and interest (R$15,500).

18.8.Guarantees

Some loan and financing agreements have guarantees clauses, in which the financed equipment or other property, plant and equipment are offered by the Company, as disclosed in Note 15.1.

The Company does not have contracts with restrictive financial clauses (financial covenants) to be complied with.

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LEASE

6 Months Ended

Jun. 30, 2020

LEASE

LEASE

19. LEASE

19.1.Right of use

The rollforward of six-month period ended June 30, 2020 is set forth below:

	Lands	Machines		Ships
	and	and		and
	Farms	Equipment’s	Buildings	boats	Vehicles	Total
Balance as of December 31, 2018
Initial adoption on January 1, 2019	1,762,943	143,685	41,570	1,408,640	1,012	3,357,850
Additions	260,982	1,529	39,794	612,022		914,327
Amortization (1)	(254,280)	(15,163)	(35,365)	(116,207)	(925)	(421,940)
Balance as of December 31, 2019	1,769,645	130,051	45,999	1,904,455	87	3,850,237
Additions	337,323	2,153	26,716	194,907	63	561,162
Amortization (1)	(119,220)	(5,054)	(10,521)	(76,771)	(29)	(211,595)
Balance as of June 30, 2020	1,987,748	127,150	62,194	2,022,591	121	4,199,804

1) The amount of R$118,286 (R$116,577 as of June 30, 2019) related to land is reclassified to biological assets to compose the formation cost.

For the six-month period ended June 30, 2020, the Company is not committed to lease agreements not yet in force.

19.2.    Lease liabilities

The balance of lease payables for the six-month period ended June 30, 2020, measured at present value and discounted by the respective discount rates are set forth below:

	Average rate - %			Present value of
Nature of agreement	p.a. (1)		Maturity (2)	liabilities
Lands and farms		11.45	January 2048	2,164,710
Machines and Equipment’s		10.62	July 2032	247,281
Buildings		9.80	November 2030	41,650
Ships and boats		11.39	February 2039	2,720,284
Vehicles		10.04	December 2021	47
				5,173,972

1) To determine the discount rates, quotes were obtained from financial institutions for agreements with characteristics and average terms similar to the lease agreements.

2) Refers to the original maturities of the agreements and, therefore, do not consider eventual renewal clause.

On March 12 and April 12, 2020, for a period of 10 months, two of the ships leased by the Company were made available for chartering from third parties. In the amount of U.S.$7,500 (equivalent, on the transaction date, to R$38,990)

The rollforward in the balances in the year ended December 31, 2019 and the six-month period ended June 30, 2020 are as follows:

Balance as of December 31, 2018
Initial adoption on January 1, 2019	3,428,897
Additions	914,327
Payments	(646,487)
Accrual of financial charges (1)	275,404
Exchange rate variation	11,929
Balance as of December 31, 2019	3,984,070
Additions	561,162
Payments	(354,289)
Accrual of financial charges (1)	240,528
Exchange rate variation	742,501
Balance as of June 30, 2020	5,173,972
Current	704,174
Non-current	4,469,798

1) The amount of R$37,040 related to interest expenses on leased lands is capitalized to biological assets to compose the formation cost (R$30,440 as of June 30, 2019).

The maturity schedule of future payment not discounted to present value related to lease liabilities is disclosed in Note 4.2.

19.2.1.    Amounts recognized in the statement of income for the period

In the six-month period ended June 30, 2020 and 2019, the amounts recognized in the unaudited condensed consolidated interim financial information, are set for the below:

	June 30,	June 30,
	2020	2019
Expenses relating to short-term assets	2,531	26,570
Expenses relating to low-value assets	6,428	4,581
	8,959	31,151

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PROVISION FOR JUDICIAL LIABILITIES

6 Months Ended

Jun. 30, 2020

PROVISION FOR JUDICIAL LIABILITIES

PROVISION FOR JUDICIAL LIABILITIES

20.      PROVISION FOR JUDICIAL LIABILITIES

The Company and its subsidiaries are involved in certain legal proceedings arising from the normal course of business, which include tax, labor and civil risks.

The Company classifies the risk of unfavorable decisions in the legal proceedings as probable, possible or remote. The Company records provisions for losses classified as probable, as determined by the Company’s Management, based on legal advice, which reflect the estimated probable losses. Contingencies classified as possible loss are disclosed based on reasonably estimated amounts.

The Company’s management believes that, based on the elements existing at the base date of these unaudited condensed consolidated interim financial information, its provision for tax, civil, commercial and other, as well for labor risks, accounted for according to IAS 37 is sufficient to cover estimated losses related to its legal proceedings, as set forth below:

20.1.    Rollforward of provisions for probable losses, net of judicial deposits

	June 30,
	2020
	Judicial
	deposits	Provision	Provision, net
Taxes	(130,502)	3,137,046	3,006,544
Labor	(54,975)	234,300	179,325
Civil and environment	(3,337)	258,919	255,582
	(188,814)	3,630,265	3,441,451

	December 31,
	2019
	Judicial
	deposits	Provision	Provision, net
Taxes	(124,133)	3,176,503	3,052,370
Labor	(50,464)	227,139	176,675
Civil and environment	273	283,159	283,432
	(174,324)	3,686,801	3,512,477

20.1.1. Changes in the provision according to the nature of the proceedings for probable losses

	June 30,
	2020
			Civil and	Contingent
	Tax	Labor	environment	liabilities (1)	Total
Beginning balance	492,413	227,139	64,897	2,902,352	3,686,801
Payments	(22,706)	(16,161)	(13,826)		(52,693)
Write-off	(25,331)	(20,347)	(18,807)	(4,150)	(68,635)
Additions	5,362	30,920	5,951		42,233
Monetary adjustment	6,969	12,749	2,841		22,559
Ending balance	456,707	234,300	41,056	2,898,202	3,630,265

1) Amounts arising from lawsuits with probability of loss possible and remote, measured and recorded at the estimated fair value resulting from the business combination with Fibria, in accordance with paragraph 23 of IFRS 3 – Business Combination.

	December 31,
	2019
			Civil and	Contingent
	Tax	Labor	environment	liabilities (1)	Total
Beginning balance	296,869	50,869	3,532		351,270
Business combination	139,462	185,157	64,974		389,593
Payments	(34)	(34,794)	(5,532)		(40,360)
Write-off	(3,875)	(55,730)	(13,434)		(73,039)
Additions	46,603	50,521	10,100	2,902,352	3,009,576
Monetary adjustment	13,388	31,116	5,257		49,761
Ending balance	492,413	227,139	64,897	2,902,352	3,686,801

1) Amounts arising from lawsuits with probability of loss possible and remote, measured and recorded at the estimated fair value resulting from the business combination with Fibria, in accordance with paragraph 23 of IFRS 3 – Business Combination.

20.1.2.    Tax

For the six-month period ended June 30, 2020, the Company was a defendant in 46 (forty-six) administrative proceedings as well as tax lawsuits in which the disputed matters related, CSLL, IRRF, PIS, COFINS, ICMS, , among others whose amounts are provisioned for when the likelihood of loss is deemed probable by the Company’s external legal counsel and the Management.

20.1.3.    Labor

For the six-month period ended June 30, 2020, the Company was a defendant in 1,180 (one thousand, one hundred and eighty) labor lawsuits.

In general, labor lawsuits are related primarily to matters frequently contested by employees in agribusiness companies, such as certain wages and/or severance payments, in addition to suits filed by outsourced employees of the Company.

20.1.4.    Civil and environment

For the six-month period ended June 30, 2020, the Company is a defendant in approximately 28 (twenty-eight) civil and environmental lawsuits.

Civil proceedings are related primarily to payment of damages, such as those resulting from contractual obligations, traffic-related injuries, possessory actions, environmental restoration obligations, claims and others.

20.2.      Provisions for possible losses

The Company is involved in tax, civil and labor lawsuits, for which losses have been assessed as possible by management with the support from legal counsel and therefore no provision was recorded:

	June 30,	December 31,
	2020	2019
Taxes (1)	6,379,823	7,504,398
Labor	293,904	279,934
Civil and environment (1)	3,395,437	2,995,576
	10,069,164	10,779,908

1) The amounts above does not include the fair value adjustment allocated to probable contingencies of R$2,865,364, which were recorded at fair value resulting from business combinations with Fibria, in accordance with paragraph 23 of IFRS 3 - Business Combination, as presented in note 20.1.1. above.

Main nature of these contingencies are disclosed in the annual financial statements for the year ended December 31, 2019 and have not been significantly changed during this period.

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EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2020

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

21.      EMPLOYEE BENEFIT PLANS

The Company offers supplementary pension plan and defined benefit plan, such as medical assistance and life insurance. The characteristics of such benefits were disclosed in the annual financial statements for the year ended December 31, 2019 and have not been changed during this period.

21.1.    Pension plan

Contributions made by the Company, for Suzano Prev pension plan managed by BrasilPrev, for the six-month period ended June 30, 2020 amounted R$3,505  (R$5,993 as of December 31, 2019) recognized in under cost of sales, selling and general and administrative expenses.

Contributions made by the Company, for Senador José Ermírio de Moraes Foundation (FUNSEJEM) pension plan,  for the six-month period ended June 30, 2020 amounted to R$4,363 (R$9,920 as of December 31, 2019), recognized under cost of sales, selling and general and administrative expenses.

21.2.      Defined benefits plan

The Company offers the following post-employment in addition to the pension plans, which are measured by actuarial calculation and recognized in the unaudited condensed consolidated interim financial information.

The rollforward of actuarial liability prepared based on actuarial report, are set forth below:

Balance at December 31, 2018	430,427
Business combination	147,877
Interest on employee benefits	44,496
Actuarial loss	147,640
Benefits paid in the year	(34,261)
Balance on December 31, 2019	736,179
Interest on employee benefits	26,527
Exchange rate variation	449
Benefits paid in the period	(19,050)
Balance on June 30, 2020	744,105

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SHARE-BASED COMPENSATION PLAN

6 Months Ended

Jun. 30, 2020

SHARE-BASED COMPENSATION PLAN

SHARE-BASED COMPENSATION PLAN

22.SHARE-BASED COMPENSATION PLAN

For the six-month period ended June 30, 2020, the Company had 3 (three) share-based, long-term compensation plans, (i) Phantom stock option plan (“PS”) and (ii) Share Appreciation Rights (“SAR”), both settled in local currency and (iii) common stock options, settled in shares.

The characteristics and measurement method of such each plan were disclosed in the annual financial statements for the year ended December 31, 2019 and have not been changed during this period.

As a result of disclosed in note 1.2.1., which deals with the effects arising from COVID19, the Company reassessed the main assumptions used in the measurement share-based compensation plans disclosed in the financial statements of December 31, 2019 and concluded that there were no significant changes in the assumptions compared to the six-month period ended June 30, 2020.

22.1            Long term compensation plans (“PS and SAR”)

The rollforward is set forth below:

	June 30,	December 31,
	2020	2019
Number of shares in the beginning balance	5,996,437	5,045,357
Granted during of the period	869,251	2,413,038
Exercised (1)	(755,707)	(827,065)
Exercised due to resignation (1)	(13,211)	(106,983)
Abandoned / prescribed due to resignation	(123,457)	(527,910)
Number of shares in the ending balance	5,973,313	5,996,437

1) The average price for share options exercised and exercised due to termination of employment, for the six-month period ended June 30, 2020 was R$38.48 (thirty-eight Brazilian Reais and forty-eight cents) (R$31.75 (thirty-one Brazilian Reais and seventy-five cents) as of December 31, 2019).

22.2            Common stock option plan

The position is set forth below:

		Deadline for the
		options to become	Price on		Shares	Restricted year for
Program	Date of grant	exercisable	grant date		Granted	transfer of shares
Program 4	01/02/2018	01/02/2019	R$	39.10	130,435	01/02/2022

22.3            Balances and result

The amounts corresponding to the services received and recognized in the unaudited consolidated interim financial information are set forth below:

	Liabilities and equity		Income Statement
	June 30,	December 31,	June 30,	June 30,
	2020	2019	2020	2019
Non-current liabilities
Provision for phantom stock plan	151,365	136,505	(49,143)	(27,529)
Shareholders' equity
Stock option granted	7,459	5,979	(1,480)	(2,638)
Total general and administrative expenses from share-based transactions			(50,623)	(30,167)

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LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES

6 Months Ended

Jun. 30, 2020

LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES

LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES

23.LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES

	June 30,	December 31,
	2020	2019
Lands and forests acquisition
Real estate receivables certificates (1)	76,286	78,345
	76,286	78,345
Business combination
Facepa (2)	42,952	42,533
Vale Florestar Fundo de Investimento em Participações ("VFFIP") (3)	538,897	420,737
	581,849	463,270
	658,135	541,615
Current liabilities	127,721	94,414
Non-current liabilities	530,414	447,201

1) Refers to obligations with the acquisition of land, farms, reforestation and houses built in Maranhão, restated by the IPCA.

2) Acquired in March 2018, for the amount of R$307,876, upon payment of R$267,876 and the remaining restated at the Amplified Consumer Price Index (“IPCA”), adjusted by any losses incurred through the payment date, with maturities in March 2023 and March 2028.

3) On August 2014, the Company acquired the Vale Florestar S.A. through VFFIP, for the total amount of R$528,941 with a upon payment of R$44,998 and remaining with maturity to August 2029. The monthly settlements are subject to interest and restated at the variation of the U.S. Dollar exchange rate and partially restated by variation of the IPCA.

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SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2020

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

24.    SHAREHOLDERS’ EQUITY

24.1               Share capital

On June 30, 2020, the Suzano's share capital is R$9,269,281 divided into 1,361,263,584 common shares, all nominative, book-entry shares without par value. The share capital is net of the public offering expenses of R$33,735.

The breakdown of the share capital is set forth below:

	Ordinary
	Quantity	(%)
Shareholder
Controlling Shareholders
Suzano Holding S.A.	367,612,329	27.01
Controller	194,809,797	14.31
Managements	35,564,742	2.61
Alden Fundo de Investimento em Ações	26,154,741	1.92
	624,141,609	45.85
Treasury	12,042,004	0.88
BNDESPAR	150,217,425	11.04
Votorantim S.A.	75,180,059	5.52
Other shareholders	499,682,487	36.71
	1,361,263,584	100.00

By resolution of the Board of Directors, the share capital may be increased, irrespective of any amendment to the Bylaws, up to the limit of 780,119,712 common shares, all exclusively book-entry shares.

For the six-month period ended June 30, 2020, SUZB3 common shares ended the period quoted at R$36.79  (R$39.68 on December 31, 2019).

24.2                  Treasury shares

The Company has 12,042,044 common shares of own issuance held in treasury, with an average cost of R$18.13 (eighteen Brazilian Reais and thirteen cents) per share, with historical value of R$218,265 and market value corresponding to R$443,025. For the six-month period ended June 30, 2019, there was no movement of purchase or sale.

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EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2020

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

25.       EARNINGS (LOSS) PER SHARE

25.1    Basic

The basic (loss) earnings per share is measured by dividing the profit attributable to the Company’s shareholders by the weighted average common shares issued during the period, excluding the common shares acquired by the Company and held as treasury shares.

	June 30,	June 30,
	2020	2019
Resulted of the period attributable for controlling shareholders'	(15,479,631)	(526,255)
Weighted average number of shares in the period	1,361,264	1,361,264
Weighted average treasury shares	(12,042)	(12,042)
Weighted average number of outstanding shares	1,349,222	1,349,222
Basic loss per common share - R$	(11.47301)	(0.39004)

25.2    Diluted

The diluted earnings per share is measured by adjusting the weighted average of outstanding common shares, assuming the conversion of all common shares that would cause dilution.

	June 30,	June 30,
	2020	2019
Resulted of the period attributed to controlling shareholders'	(15,479,631)	(526,255)
Weighted average number of shares in the period (except treasury shares)	1,349,222	1,349,222
Weighted average number of shares (diluted)	1,349,222	1,349,222
Diluted loss per common share - R$	(11.47301)	(0.39004)

Due to the loss in the periods, the Company does not consider the dilution effect in the measurement.

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NET FINANCIAL RESULT

6 Months Ended

Jun. 30, 2020

NET FINANCIAL RESULT

NET FINANCIAL RESULT

26.      NET FINANCIAL RESULT

	June 30,	June 30,
	2020	2019
Financial expenses
Interest on loans, financing and debentures (1)	(1,728,835)	(1,674,698)
Amortization of fundraising costs	(41,268)	(159,856)
Amortization of fair value adjustment on business combination	(10,660)	63,128
Other financial expenses	(338,787)	(307,570)
	(2,119,550)	(2,078,996)
Financial income
Cash and cash equivalents and marketable securities	108,427	214,116
Amortization of fair value adjustment on business combination	47,619	37,412
Other financial income	47,127	47,401
	203,173	298,929
Income from derivative financial instruments
Income	990,989	1,052,879
Expenses	(11,826,103)	(1,432,386)
	(10,835,114)	(379,507)
Monetary and exchange rate variation, net
Exchange rate variation on loans, financing and debentures	(16,364,585)	421,010
Lease	(742,501)	(11,684)
Other assets and liabilities (2)	1,757,291	(106,830)
	(15,349,795)	302,496
	(28,101,286)	(1,857,078)

1) Does not include the amount of R$7,940 arising from capitalized interest for the six-month period ended June 30, 2020 (R$1,505 as of June 30, 2019).

2) Includes effects of exchange rate variations of customers, suppliers, cash and cash equivalents, marketable securities and others.

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NET SALES

6 Months Ended

Jun. 30, 2020

NET SALES

NET SALES

27.   NET SALES

	June 30,	June 30,
	2020	2019
Gross sales	17,477,563	14,984,035
Sales deductions
Adjustment to present value		(8,564)
Returns and cancelations	(40,981)	(47,704)
Discounts and rebates	(1,901,193)	(1,863,366)
	15,535,389	13,064,401
Taxes on sales	(558,923)	(700,320)
Net sales	14,976,466	12,364,081

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SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2020

SEGMENT INFORMATION

SEGMENT INFORMATION

28.     SEGMENT INFORMATION

28.1      Criteria for identifying operating segments

In the financial statements for the year ended December 31, 2019, the information by segment used by the Company was disclosed, which did not change during the period.

28.2      Information of operating segments

	June 30, 2020
					Not
	Pulp		Paper		segmented	Total
Net sales	12,862,936		2,113,530			14,976,466
Domestic market (Brazil)	741,568		1,372,423			2,113,991
Foreign market	12,121,368		741,107			12,862,475
Cost of sales	(8,246,527)		(1,362,166)			(9,608,693)
Gross profit	4,616,409		751,364			5,367,773
Gross margin (%)	35.89	%	35.55	%		35.84	%
Operating income (expenses)	(1,179,960)		(323,175)			(1,503,135)
Selling	(875,343)		(186,691)			(1,062,034)
General and administrative	(460,226)		(190,325)			(650,551)
Other operating, net	170,212		42,190			212,402
Income (loss) from associates and joint ventures	(14,603)		11,651			(2,952)
Operating profit before net financial income ("EBIT") (1)	3,436,449		428,189			3,864,638
Operating margin (%)	26.72	%	20.26	%		25.80	%
Financial result, net					(28,101,286)	(28,101,286)
Net income (loss) before taxes	3,436,449		428,189		(28,101,286)	(24,236,648)
Income taxes					8,765,069	8,765,069
Net income (loss) for the period	3,436,449		428,189		(19,336,217)	(15,471,579)
Profit (loss) margin for the period (%)	26.72	%	20.26	%		(103.31)	%
Result of the period attributable to controlling Shareholders	3,436,449		428,189		(19,344,269)	(15,479,631)
Result of the period attributed to non-controlling shareholders					8,052	8,052
Depreciation, depletion and amortization	3,126,528		231,053			3,357,581

1) Earnings before interest and tax.

	June 30, 2019
					Not
	Pulp		Paper		segmented	Total
Net sales	10,055,757		2,308,324			12,364,081
Domestic market (Brazil)	984,098		1,591,902			2,576,000
Foreign market	9,071,659		716,422			9,788,081
Cost of sales	(8,414,712)		(1,532,300)			(9,947,012)
Gross profit	1,641,045		776,024			2,417,069
Gross margin (%)	16.3	%	33.6	%		19.5	%
Operating income (expenses)	(971,698)		(377,498)			(1,349,196)
Selling	(712,005)		(186,279)			(898,284)
General and administrative	(418,980)		(189,816)			(608,796)
Other operating, net	159,287		(6,972)			152,315
Income from associates and joint ventures			5,569			5,569
Operating profit before net financial income ("EBIT") (1)	669,347		398,526			1,067,873
Operating margin (%)	6.7	%	17.3	%		8.6	%
Financial result, net					(1,857,078)	(1,857,078)
Net income (loss) before  taxes	669,347		398,526		(1,857,078)	(789,205)
Income taxes					259,921	259,921
Net income (loss) for the period	669,347		398,526		(1,597,157)	(529,284)
Profit (loss) margin for the period (%)	6.7	%	17.3	%		(4.3)	%
Result of the period attributable to controlling shareholders	669,347		398,526		(1,594,128)	(526,255)
Result of the period attributed to non-controlling shareholders					(3,029)	(3,029)
Depreciation, depletion and amortization	4,455,493		239,955			4,695,448

1) Earnings before interest and tax.

28.3      Net sales by product

The following table set forth the breakdown of consolidated net sales by product:

	June 30,	June 30,
Products	2020	2019
Market pulp(1)	12,862,936	10,055,757
Printing and writing paper(2)	1,661,611	1,902,733
Paperboard	430,292	382,440
Other	21,627	23,151
Net sales	14,976,466	12,364,081

1) Revenue from fluff pulp represents (around 0.6% of total net sales) and, therefore, was included in market pulp sales.

2) Tissue is a recently launched product and its revenues represent less than 2.6% of total net sales. Therefore, it was included in the sales of printing and writing paper.

28.4Goodwill based on expected future profitability

The goodwill based on expected future profitability arising from the business combination were allocated to the disclosable segments, which correspond to the Company's cash-generating units (“CGU”), considering the economic benefits generated by such intangible assets. The allocation of intangibles is set forth below: 

	June 30,	December 31,
	2020	2019
Pulp	7,942,486	7,942,486
Consumer goods	119,332	119,332
	8,061,818	8,061,818

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RESULTS BY NATURE

6 Months Ended

Jun. 30, 2020

RESULTS BY NATURE

RESULTS BY NATURE

29.   RESULTS BY NATURE

	June 30,	June 30,
	2020	2019
Cost of sales (1)
Personnel expenses	(505,895)	(724,815)
Costs with raw materials, materials and services	(4,059,893)	(3,328,416)
Logistics cost	(2,025,824)	(1,278,385)
Depreciation, depletion and amortization (2)	(2,843,700)	(4,321,013)
Operating expenses Covid-19 (3)	(15,500)
Other	(157,881)	(294,383)
	(9,608,693)	(9,947,012)
Selling expenses
Personnel expenses	(93,913)	(100,942)
Services	(53,938)	(41,602)
Logistics cost	(410,230)	(273,414)
Depreciation, depletion and amortization	(460,597)	(441,995)
Other (4)	(43,356)	(40,331)
	(1,062,034)	(898,284)
General and Administrative expenses
Personnel expenses	(351,108)	(351,784)
Services	(134,501)	(138,370)
Depreciation, depletion and amortization	(43,814)	(20,468)
Social actions Covid-19	(48,024)
Operating expenses Covid-19 (2)	(10,729)
Other (5)	(62,375)	(98,174)
	(650,551)	(608,796)
Other operating income (expenses) net
Rents and leases	2,365	668
Result from sale of other products, net	24,886	12,895
Result from sale and disposal of property, plant and equipment and biological assets, net	9,343	(27,568)
Result on fair value adjustment of biological assets	173,733	83,453
Insurance reimbursement	4,129	6,587
Provision for loss of judicial deposits		(3,284)
Amortization and depletion	(9,470)	(9,192)
Sale of legal credits (Eletrobrás)		87,000
Result on disposal of investments	(9,404)
Other operating income (expenses), net	16,820	1,756
	212,402	152,315

1) Includes the amount of R$149,087, related to idle capacity and maintenance downtime (there were no expenses as of June 30, 2019).

2) In the period ended June 30, 2019 includes amortization of the inventories step up, resulting from the business combination with Fibria, in the amount of R$2,178,903.

3) Includes, mainly, expenses in the manufacturing units for the refurbishment of cafeterias and workplaces, expansion of the frequency of conservation, cleaning, hygiene and maintenance of common areas, public transport with greater space between passengers, distribution of masks and realization rapid tests on employees working in factories.

4) Includes expected credit losses, insurance, materials of use and consumption, expenses with travel, accommodation, participation in trade fairs and events.

5) Includes corporate expenses, insurance, materials of use and consumption social projects and donations, expenses with travel and accommodation.

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SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2020

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

30.       SUBSEQUENT EVENTS

In connection with the announcement to the market made on March 30, 2020, the Company announces that it carried out on August 13, 2020 the notice of its intention to pay the revolving credit facility in the amount of US$500,000 (equivalent, on the transaction date, to R$2,638,221) which was withdrawn on April 1, 2020, at the cost of LIBOR + 1.30% p.a., with an average term of 47 months and maturity in February 2024. The settlement is scheduled for August 20, 2020 and such resources are fully available as a source of additional liquidity for the Company, if necessary.

Suzano considers that, due the greater visibility of possible impacts resulting from the COVID-19 pandemic in its business environment and its robust cash position, the withdrawal of its revolving credit facility line is no longer necessary. It is important mentioning that such settlement will allow greater efficiency in the Company's cash management.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Translation into currency presentation

3.1.1.Translation into currency presentation

Due to the merger with Fibria, the Company had several changes in the structure, activities and operations during 2019 that led management to conclude that they needed to reassess the functional currency of its subsidiaries whose functional currency was different from Brazilian Reais.

Those facts resulted in the corporate reorganization, as well as, it has impacted how management conducted the Company's business in order to achieve the alignment between the cultures of the two Companies, the unification of processes, operating, tax systems and strategies, through synergy gains arising from the business combination. In this process some of Company’s wholly-owned subsidiaries were considered an extension of the activities of the parent company. 

These circumstances collectively justify the change in the functional currency to Brazilian Real and they have occurred gradually during 2019, therefore it was not practicable to determine the date of the change at a precise point during the reporting period. Thus, the Company changed the functional currency of those wholly-owned subsidiaries as of January 1, 2020.

The cumulative translation adjustment (“CTA”) arising from the translation of a foreign operation previously recognized in other comprehensive income will not be reclassified from equity to profit or loss until the disposal of the operations. The total or partial disposal of interest in wholly-owned subsidiaries occurs through sale or dissolution, of all or part of operation. 

Therefore, the financial statements of foreign subsidiaries, whose functional currency was different from Brazilian Reais in 2019, were translated using the criteria established below:

(i) assets and liabilities are translated at the exchange rate in effect at period-end;

(ii) revenues and expenses are translated based on the monthly average rate;

(iii) the cumulative effects of gains or losses upon translation are recognized as accumulated foreign currency translation adjustments component of other comprehensive income.

And as from January 1, 2020, the financial statements of foreign subsidiaries are translated using the following criteria:

(i) monetary assets and liabilities are translated at the exchange rate in effect at period-end;

(ii) non-monetary assets and liabilities are translated at the historical rate of the transaction;

(iii) revenues and expenses are translated based on monthly average rate;

(iv) the cumulative effects of gains or losses upon translation are recognized in the other comprehensive income period-end.

Business combination - IFRS 3

3.1.2.Business combination – IFRS 3

This pronouncement was amended and clarifies definition of a “business”. It is also permitted a simplified assessment of whether an acquired set of activities and assets is a group of assets rather than a business. The Company assessed the content of this pronouncement and did not identify any material impacts.

Presentation of financial statements - IAS 1 and Accounting policies, changes in accounting estimates and errors - IAS 8

3.1.3.Presentation of financial statements – IAS 1 and Accounting policies, changes in accounting estimates and errors – IAS 8

This pronouncement was amended and clarifies definition of a “material” and how it should be applied by (i) including in the definition guidance that until now has featured elsewhere in IFRS Standards; (ii) improving the explanations accompanying the definition; and (iii) ensuring that the definition of material is consistent across all IFRS Standards. The Company assessed the content of this pronouncement and did not identify any material impacts.

Conceptual framework for financial reporting

3.1.4.Conceptual framework for financial reporting

This pronouncement was amended and includes some new concepts, provides updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts, the main changes are set forth below:

(i)the objective of financial reporting describes the objective of general purpose financial reporting, the information needed to achieve that objective and who uses the financial reports. The term “stewardship” was reintroduced, in order to clarify its meaning and defining the information needed to assess management’s stewardship and separates this from the information that users need to assess the prospects of the entity’s future net cash flows. Both types of information are required to provide information that is useful for making decisions about providing resources to the entity, and therefore achieves the objective of financial reporting.

(ii)qualitative characteristics of useful financial information: the concepts of prudence and substance over form were reintroduced. It was also defined the concept of measurement uncertainty in assessing the usefulness of financial information, since in some cases, relevant information may have a high level of measurement uncertainty, which may reduce its usefulness. Slightly less relevant information with a lower measurement uncertainty may be preferable in such case.

(iii)financial statements and the reporting entity: describes about new concepts, in which it is clarified the scope and objective of financial statements and also provides a description of the reporting entity.

(iv)the elements of financial statements: the definitions of assets and liabilities were revised and the definitions of income and expenses were updated accordingly, as set forth below:

Previous definition	New definition
Asset: A resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity.	Asset: A present economic resource controlled by the entity as a result of past events. An economic resource is a right that has the potential to produce economic benefits.

The new definition clarifies that an asset is an economic resource, and that the potential economic benefits no longer need to be “expected” to flow to the entity. Thus, they do not need to be certain or even likely, but if this is the case, the recognition and measurement of the asset may be affected.

Liability: A present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Liability: A present obligation of the entity to transfer an economic resource as a result of past events.

The main difference is that the new definition clarifies that a liability is the obligation to transfer an economic resource, and not the ultimate outflow of economic benefits. The outflow also no longer needs to be ‘expected’, similar to the change in the definition of an asset, above. It was also introduced the concept of ‘no practical ability to avoid’ to the definition of an obligation, and factors used to assess this will depend on the nature of an entity’s duty or responsibility, which requires the use of judgement.

Income: increases in economic benefits during the accounting period in the form of inflows or enhancements of assets, or decreases of liabilities, that result in increases in equity, other than those relating to contributions from equity participants.	Income:  Increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims..
Expense: Decreases in economic benefits during the accounting period in the form of outflows or depletions of assets, or incurrences of liabilities, that result in decreases in equity, other than those relating to distributions to equity participants.	Expense: Decreases in assets, or increases in liabilities, that result in decreases in equity, other than those relating to distributions to holders of equity claims

(v)recognition and derecognition: the criteria for recognizing assets and liabilities in the financial statements were reviewed. The pronouncement states that recognition is only appropriate if it results in both relevant information about the element being recognized, and faithful representation of that element. On the other hand, derecognition should aim to faithfully represent those assets and liabilities retained after the transaction, if any, and any change in assets and liabilities as a result of the transaction that led to the derecognition.

(vi)measurement: new guidance was introduced about measurement bases and provide factors to consider when selecting a measurement basis. Therefore, two categories of measurement basis were identified:

•historical cost:

•current value: which comprises fair value, value in use of assets and fulfilment value for liabilities and current cost.

(vii)Presentation and disclosure: the concepts were reviewed (i) how information should be presented and disclosed in financial statements (ii) classifying income and expenses in the statement of income and (iii) whether and when income and expenses included in other comprehensive income (“OCI”) should subsequently be recycled to statement of income. Additionally, reinforces that statement of income is the primary source of information about the entity’s financial performance.

(viii)concepts of capital and capital maintenance: describes the concepts of capital and capital maintenance and profit determination and adjustments for capital maintenance, the content of this item has not changed.

The Company assessed the content of this pronouncement and did not identify any material impacts.

Lease - CPC 06 (R2) / IFRS 16

3.2.Lease – CPC 06 (R2) / IFRS 16

This pronouncement was changed as a result of benefits related to Covid-19 granted to lessee under lease agreements. The Company assessed the content of this pronouncement and did not identify any impacts, for the clauses of the current lease agreements remained unchanged. 

New standards, revisions and interpretation not yet in force

3.3.New standards, revisions and interpretations not yet in force

There are no other IFRSs or IFRIC interpretations that are not yet effective that would be expected to have a material impact on the Company’s unaudited consolidated condensed interim financial information.

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COMPANY'S OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2020

COMPANY'S OPERATIONS

Summary of equity interest in the entities

					% equity interest
			Type of	Accounting	June 30,		December 31,
Entity	Main activity	Country	investment	method	2020		2019
AGFA – Com. Adm. e Participações Ltda.	Holding	Brazil	Direct	Consolidated	100.00	%	100.00	%
Asapir Produção Florestal e Comércio Ltda.	Eucalyptus cultivation	Brazil	Direct	Consolidated	100.00	%	100.00	%
CelluForce Inc.	Nanocrystalline pulp research and development	Canada	Direct	Fair value through other comprehensive income	8.30	%	8.30	%
Comercial e Agrícola Paineiras Ltda.	Lease of reforestation land	Brazil	Direct	Consolidated	99.99	%	99.99	%
Ensyn Corporation	Bio fuel research and development	United States of America	Direct	Equity	25.30	%	25.30	%
Facepa - Fábrica de Papel da Amazônia S.A.	Industrialization and commercialization of tissue paper	Brazil	Direct/Indirect	Consolidated	92.80	%	92.80	%
Fibria Celulose (USA) Inc.	Business office	United States of America	Direct	Consolidated	100.00	%	100.00	%
Fibria Terminal de Celulose de Santos SPE S.A.	Port operation	Brazil	Direct	Consolidated	100.00	%	100.00	%
Fibria Overseas Finance Ltd.	Financial fundraising	Cayman Island	Direct	Consolidated	100.00	%	100.00	%
Fibria Terminais Portuários S.A.	Port operation	Brazil	Direct	Consolidated	100.00	%	100.00	%
FuturaGene AgriDev Xinjiang Company Ltd.	Biotechnology research and development	China	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Biotechnology Shangai Company Ltd.	Biotechnology research and development	China	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Brasil Tecnologia Ltda.	Biotechnology research and development	Brazil	Direct/Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Delaware Inc.	Biotechnology research and development	United States of America	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Hong Kong Ltd.	Biotechnology research and development	Hong Kong	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Inc.	Biotechnology research and development	United States of America	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Israel Ltd.	Biotechnology research and development	Israel	Indirect	Consolidated	100.00	%	100.00	%
FuturaGene Ltd.	Biotechnology research and development	England	Indirect	Consolidated	100.00	%	100.00	%
F&E Tecnologia do Brasil S.A. (1)	Biofuel production, except alcohol	Brazil	Direct	Consolidated	100.00	%	100.00	%
F&E Technologies LLC	Biofuel production, except alcohol	United States of America	Direct	Equity	50.00	%	50.00	%
Gansu FuturaGene Biotech Co. Ltd. (2)	Biotechnology research and development	China	Indirect	Consolidated			100.00	%
Ibema Companhia Brasileira de Papel	Industrialization and commercialization of paperboard	Brazil	Direct	Equity	49.90	%	49.90	%
Itacel - Terminal de Celulose de Itaqui S.A.	Port operation	Brazil	Indirect	Consolidated	100.00	%	100.00	%
Maxcel Empreendimentos e Participações S.A.	Holding	Brazil	Direct	Consolidated	100.00	%	100.00	%
Mucuri Energética S.A.	Power generation and distribution	Brazil	Direct	Consolidated	100.00	%	100.00	%
Ondurman Empreendimentos Imobiliários Ltda.	Lease of reforestation land	Brazil	Direct/Indirect	Consolidated	100.00	%	100.00	%
Paineiras Logística e Transportes Ltda.	Road freight transport	Brazil	Direct /Indirect	Consolidated	100.00	%	100.00	%
Portocel - Terminal Espec. Barra do Riacho S.A.	Port operation	Brazil	Direct	Consolidated	51.00	%	51.00	%
Projetos Especiais e Investimentos Ltda.	Commercialization of equipment and parts	Brazil	Direct	Consolidated	100.00	%	100.00	%
Rio Verde Participações e Propriedades Rurais S.A. (3)	Forest assets	Brazil	Direct	Consolidated	100.00	%	100.00	%
Spinnova OY	Research and development of sustainable raw materials (wood) for the textile industry	Finland	Direct	Equity	24.06	%	24.06	%
Stenfar S.A. Indl. Coml. Imp. Y. Exp.	Commercialization of computer paper and materials	Argentine	Direct /Indirect	Consolidated	100.00	%	100.00	%
Suzano Austria GmbH.	Business office	Austria	Direct	Consolidated	100.00	%	100.00	%
Suzano Canada Inc.	Lignin research and development	Canada	Direct	Consolidated	100.00	%	100.00	%
Suzano International Trade GmbH.	Business office	Austria	Direct	Consolidated	100.00	%	100.00	%
Suzano Participações do Brasil Ltda. (4)	Holding	Brazil	Direct	Consolidated			100.00	%
Suzano Pulp and Paper America Inc.	Business office	United States of America	Direct	Consolidated	100.00	%	100.00	%
Suzano Pulp and Paper Europe S.A.	Business office	Switzerland	Direct	Consolidated	100.00	%	100.00	%
Suzano Shanghai Ltd. (5)	Customer relationship services	China	Direct	Consolidated	100.00	%
Suzano Trading Ltd.	Business office	Cayman Island	Direct	Consolidated	100.00	%	100.00	%
Suzano Trading International KFT	Business office	Hungary	Direct	Consolidated	100.00	%	100.00	%
Veracel Celulose S.A. (6)	Industrialization, commercialization and exportation of pulp	Brazil	Direct	Consolidated	50.00	%	50.00	%

¹⁾ On May 31, 2020, reorganization of equity interest as a result of the merger of Suzano Participações do Brasil Ltda. by Suzano S.A. Previously, the participation of this entity was directly held by Suzano Participações do Brasil Ltda. and indirectly by Suzano S.A. After the merger, it was held directly by Suzano S.A.

²⁾ On April 8, 2020, disposal of equity interest.

³⁾ On May 31, 2020, reorganization of equity interest as a result of the merger of Suzano Participações do Brasil Ltda. by Suzano S.A. Previously, the participation of this entity was directly held by Suzano Participações do Brasil Ltda. and indirectly by Suzano S.A. After the merger, it was held directly by Suzano S.A.

⁴⁾ On May 31, 2020, merger of the entity by Suzano S.A.

⁵⁾ On February 26, 2020, establishment of legal entity arising from corporate reorganization.

⁶⁾ Joint operation with Stora Enso, a company located in Finland

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT (Tables)

6 Months Ended

Jun. 30, 2020

Financial Instruments and Risks Management

Schedule of financial instruments by category

		June 30,	December 31,
	Note	2020	2019
Assets
Amortized cost
Cash and cash equivalents	5	10,473,701	3,249,127
Trade accounts receivable	7	3,762,875	3,035,817
Other assets		513,104	563,993
		14,749,680	6,848,937
Fair value through other comprehensive income
Other investments	14	25,976	20,048
		25,976	20,048
Fair value through profit or loss
Derivative financial instruments	4.5	1,078,437	1,098,972
Marketable securities	6	2,213,496	6,330,334
		3,291,933	7,429,306
		18,067,589	14,298,291
Liabilities
Amortized cost
Loans, financing and debentures	18.1	80,628,577	63,684,326
Lease liabilities	19.2	5,173,972	3,984,070
Liabilities for assets acquisitions and subsidiaries	23	658,135	541,615
Trade accounts payable	17	2,081,533	2,376,459
Other liabilities		337,106	578,061
		88,879,323	71,164,531
Fair value through profit or loss
Derivative financial instruments	4.5	11,898,332	2,917,913
		11,898,332	2,917,913
		100,777,655	74,082,444
		82,710,066	59,784,153

Summary of estimated fair value of loans and financing

	Approach used	June 30,	December 31,
	to discount	2020	2019
Quoted in the secondary market
In foreign currency
Bonds	Secondary Market	38,795,348	30,066,087
Estimated to present value
In foreign currency
Export credits ("Pre-payment")	LIBOR	26,123,478	17,213,963
Export credits ("ACC/ACE")	DI 1	799,183	575,521
In local currency
BNP – Forest Financing	DI 1	177,376	193,646
BNDES – TJLP	DI 1	1,759,652	1,895,959
BNDES - TLP	DI 1	523,828	535,812
BNDES – Fixed	DI 1	95,259	113,979
BNDES – Selic ("Special Settlement and Custody System")	DI 1	938,208	693,969
BNDES - Currency basket	DI 1	61,488	54,420
CRA ("Agribusiness Receivables Certificate")	DI 1	4,583,620	6,039,983
Debentures	DI 1	5,416,351	5,534,691
FINAME ("Special Agency of Industrial Financing")	DI 1	11,816	14,168
FINEP ("Financier of Studies and Projects")	DI 1	1,287	5,138
NCE ("Export Credit Notes")	DI 1	1,354,814	1,445,383
NCR ("Rural Credit Notes")	DI 1	280,876	288,122
Export credits ("Pre-payment")	DI 1	1,435,407	1,464,798
FDCO ("West Center Development Fund")	DI 1	541,291	571,904
		82,899,282	66,707,543

Schedule of contractual maturities of financial liabilities

	June 30,
	2020
	Total book	Total future	Up to 1	1 - 2	2 - 5	More than
	value	value	year	years	years	5 years
Liabilities
Trade accounts payables	2,081,533	2,081,533	2,081,533	—	—	—
Loans, financing and debentures(1)	80,628,577	110,480,401	7,742,122	4,575,792	45,904,453	52,258,034
Lease liabilities	5,173,972	9,733,128	842,789	1,566,704	2,064,169	5,259,466
Liabilities for asset acquisitions and subsidiaries	658,135	744,790	134,005	129,699	365,836	115,250
Derivative financial instruments(1)	11,898,332	18,155,523	4,556,320	1,415,206	4,726,006	7,457,991
Other liabilities	337,106	337,106	252,972	84,134
	100,777,655	141,532,481	15,609,741	7,771,535	53,060,464	65,090,741

1)The variation is due to the increase in the exchange rate variation in the six-month period ended June 30, 2020.

	December 31,
	2019
	Total book	Total future	Up to 1	1 - 2	2 - 5	More than
	value	value	year	years	years	5 years
Liabilities
Trade accounts payables	2,376,459	2,376,459	2,376,459	—	—	—
Loans, financing and debentures	63,684,326	89,708,210	8,501,278	5,692,149	29,088,292	46,426,491
Lease liabilities	3,984,070	7,109,966	559,525	1,426,011	1,186,386	3,938,044
Liabilities for asset acquisitions and subsidiaries	541,615	618,910	103,132	101,149	315,989	98,640
Derivative financial instruments	2,917,913	8,299,319	1,488,906	415,791	1,258,200	5,136,422
Other liabilities	578,061	578,061	456,338	121,723
	74,082,444	108,690,925	13,485,638	7,756,823	31,848,867	55,599,597

Schedule of net exposure of assets and liabilities in foreign currency

	June 30,	December 31,
	2020	2019
Assets
Cash and cash equivalents	9,895,463	2,527,834
Trade accounts receivables	2,891,501	2,027,018
Derivative financial instruments	242,235	9,440,141
	13,029,199	13,994,993
Liabilities
Trade accounts payables	(491,805)	(1,085,207)
Loans and financing	(63,817,265)	(45,460,138)
Liabilities for asset acquisitions and subsidiaries	(401,273)	(288,172)
Derivative financial instruments	(10,485,935)	(11,315,879)
	(75,196,278)	(58,149,396)
Net liability exposure	(62,167,079)	(44,154,403)

Schedule of derivatives by type of contract

	Notional value in U.S.$		Fair value
	June 30,	December 31,	June 30,	December 31,
	2020	2019	2020	2019
Instruments contracted with protection strategy
Operational Hedge
Zero Cost Collar	3,365,500	3,425,000	(2,948,115)	67,078
NDF (R$ x US$)	25,000		(29,511)
NDF (US$ x ARS)	5,500		(2,178)
Debt hedge
Interest rate hedge
Swap LIBOR to Fixed (U.S.$)(1)	3,683,333	2,750,000	(1,273,250)	(444,910)
Swap IPCA to CDI (notional in Reais)	843,845	843,845	251,599	233,255
Swap IPCA to Fixed (U.S.$)	121,003	121,003	(172,557)	30,544
Swap CDI x Fixed (U.S.$)(1)	2,676,617	3,115,614	(6,454,249)	(1,940,352)
Pre-fixed Swap to U.S.$ (U.S.$)	350,000	350,000	(637,090)	(33,011)
Hedge de Commodity
Swap US-CPI standing wood (U.S.$)(2)	657,207	679,485	522,073	268,547
Swap Bunker (oil)	87,486	365	(76,617)	(92)
			(10,819,895)	(1,818,941)
Current assets			152,978	260,273
Non-current assets			925,459	838,699
Current liabilities			(4,529,091)	(893,413)
Non-current liabilities			(7,369,241)	(2,024,500)
			(10,819,895)	(1,818,941)

Schedule of maturity analysis for derivatives

	June 30,	December 31,
	2020	2019
2020	(2,715,171)	(633,644)
2021	(2,184,320)	98,850
2022	(1,148,302)	(154,734)
2023	(563,163)	185,209
2024	(801,662)	(197,718)
2025	(1,845,634)	(606,827)
2026 onwards	(1,561,643)	(510,077)
	(10,819,895)	(1,818,941)

Schedule of long and short positions of outstanding derivatives

	Notional value			Fair value
		June 30,	December 31,	June 30,	December 31,
	Currency	2020	2019	2020	2019
Debt hedge
Assets
Swap CDI x Fixed (U.S.$)	R$	9,963,450	11,498,565	511	11,673,117
Swap Pre-Fixed to U.S.$ (U.S.$)	R$	1,317,226	1,317,226	122,341	1,478,336
Swap LIBOR x Fixed (U.S.$)	US$	3,683,333	2,750,000	62,489	11,063,970
Swap IPCA x CDI	IPCA	943,055	933,842	251,599	1,093,067
Swap IPCA x U.S.$	IPCA	504,368	499,441		579,307
				436,940	25,887,797
Liabilities
Swap CDI x Fixed (U.S.$)	US$	2,676,617	3,115,614	(6,454,760)	(13,613,469)
Swap LIBOR x Fixed (U.S.$)	US$	350,000	350,000	(759,431)	(1,511,347)
Swap LIBOR x Fixed (U.S.$)	US$	3,683,333	2,750,000	(1,335,739)	(11,508,880)
Swap IPCA x CDI	R$	843,845	843,845		(859,812)
Swap IPCA x U.S.$	US$	121,003	121,003	(172,557)	(548,763)
				(8,722,487)	(28,042,271)
				(8,285,547)	(2,154,474)
Operational hedge
Zero cost collar (U.S.$ x R$)	US$	3,365,500	3,425,000	(2,948,115)	67,078
NDF (R$ x U.S.$)	US$	25,000		(29,511)
NDF (US$ x ARS)		5,500		(2,178)
				(2,979,804)	67,078
Commodity hedge
Swap US-CPI (standing wood)	US$	657,207	679,485	522,073	268,547
Swap Bunker (oil)	US$	87,486	365	(76,617)	(92)
				445,456	268,455
				(10,819,895)	(1,818,941)

Schedule of settled derivatives

	June 30,	December 31,
	2020	2019
Operational hedge
Zero cost collar (R$ x U.S.$)	(962,595)	(104,040)
NDF (R$ x U.S.$)	(30,700)	63,571
	(993,295)	(40,469)
Commodity hedge
Swap Bunker (oil)	(36,805)	3,804
	(36,805)	3,804
Debt hedge
Swap CDI x Fixed (U.S.$)	(369,601)	(68,362)
Swap IPCA x CDI	(441,056)	23,024
Swap IPCA x USD	10,054
Swap Pre-Fixed to U.S.$ (U.S.$)	59,351	(26,358)
Swap LIBOR x Fixed (U.S.$)	(62,898)	(27,088)
	(804,150)	(98,784)
	(1,834,250)	(135,449)

Schedule of fair value hierarchy

	June 30,
	2020
	Level 1	Level 2	Level 3	Total
Assets
Fair value through profit or loss
Derivative financial instruments		1,078,437		1,078,437
Marketable securities	825,972	1,387,524		2,213,496
	825,972	2,465,961		3,291,933
Fair value through other comprehensive income
Other investments - CelluForce			25,976	25,976
			25,976	25,976
Biological assets			10,672,724	10,672,724
			10,672,724	10,672,724
Total assets	825,972	2,465,961	10,698,700	13,990,633
Liabilities
Fair value through profit or loss
Derivative financial instruments		11,898,332		11,898,332
		11,898,332		11,898,332
Total liabilities		11,898,332		11,898,332

	December 31,
	2019
	Level 1	Level 2	Level 3	Total
Assets
Fair value through profit or loss
Derivative financial instruments		1,098,972		1,098,972
Marketable securities	1,631,319	4,699,015		6,330,334
	1,631,319	5,797,987		7,429,306
Fair value through other comprehensive income
Other investments - CelluForce			20,048	20,048
			20,048	20,048
Biological assets			10,571,499	10,571,499
			10,571,499	10,571,499
Total assets	1,631,319	5,797,987	10,591,547	18,020,853
Liabilities
Fair value through profit or loss
Derivative financial instruments		2,917,913		2,917,913
		2,917,913		2,917,913
Total liabilities		2,917,913		2,917,913

Currency Risk | Financial instruments, excluding derivatives

Financial Instruments and Risks Management

Summary of sensitivity analysis

	June 30,
	2020
	Effect on profit or loss and equity
		Possible	Remote
	Probable	(25%)	(50%)
Cash and cash equivalents	9,895,463	2,473,866	4,947,732
Trade accounts receivable	2,891,501	722,875	1,445,751
Trade accounts payable	(491,805)	(122,951)	(245,903)
Loans and financing	(63,817,265)	(15,954,316)	(31,908,633)
Liabilities for asset acquisitions and subsidiaries	(401,273)	(100,318)	(200,637)

Currency Risk | Derivative financial instruments

Financial Instruments and Risks Management

Summary of sensitivity analysis

	June 30,
	2020
	Effect on profit or loss and equity
		Possible	Remote	Possible	Remote
	Probable	(+25%)	(+50%)	(-25%)	(-50%)
	5.4416	6.802	8.1624	4.0812	2.7208
Financial instruments derivatives
Derivative options	(2,955,980)	(4,195,471)	(8,658,160)	3,740,215	7,973,398
Derivative Non-Deliverable Forward (‘NDF’)	(29,511)	(33,907)	(67,814)	33,908	67,815
Derivative swaps	(8,526,926)	(5,279,964)	(10,559,931)	5,279,972	10,559,940

Interest rate risk | Financial instruments, excluding derivatives

Financial Instruments and Risks Management

Summary of sensitivity analysis

	June 30,
	2020
	Effect on profit or loss and equity
	Probable	Possible (25%)	Remote (50%)
CDI
Cash and cash equivalents	358,900	1,929	3,858
Marketable securities	2,213,496	11,898	23,795
Loans and financing	9,919,194	53,316	106,631
TJLP
Loans and financing	1,700,469	21,001	42,002
LIBOR
Loans and financing	25,131,914	18,975	37,949

Interest rate risk | Derivative financial instruments

Financial Instruments and Risks Management

Summary of sensitivity analysis

	June 30,
	2020
	Effect on profit or loss and equity
		Probable	Remote	Probable	Remote
	Probable	(+25%)	(+50%)	(-25%)	(-50%)
CDI
Financial instruments derivatives
Liabilities
Derivative options	(2,955,980)	(46,186)	(91,962)	46,622	93,698
Derivative Non-Deliverable Forward (‘NDF’)	(29,511)	(97)	(195)	99	198
Derivative swaps	(8,526,926)	(27,243)	(53,863)	27,830	56,172
LIBOR
Financial instruments derivatives
Liabilities
Derivative swaps	(8,526,926)	50,308	100,602	(50,308)	(100,630)

U.S. Consumer Price Index | Derivative financial instruments

Financial Instruments and Risks Management

Summary of sensitivity analysis

	June 30,
	2020
	Impact of an increase/decrease of
	US-CPI on the fair value
	Probable	Possible (25%)	Remote (50%)
Embedded derivative in forestry partnership and standing wood supply agreements	522,073	(117,134)	(238,426)

Commodity price risk

Financial Instruments and Risks Management

Summary of sensitivity analysis

	June 30,
	2020
	Impact of an increase/decrease of price risk
	Probable	Possible (25%)	Remote (50%)
Oil derivative	(76,702)	168,646	260,591

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CASH AND CASH EQUIVALENTS (Tables)

6 Months Ended

Jun. 30, 2020

CASH AND CASH EQUIVALENTS

Schedule of cash and cash equivalents

	Average yield	June 30,	December 31,
	p.a. %	2020	2019
Cash and banks	0.40	6,070,196	2,464,097
Cash equivalents
Local currency
Fixed-term deposits (1)	75.34% of CDI	358,900	630,075
Foreign currency
Fixed-term deposits (1)	0.76	4,044,605	154,955
		10,473,701	3,249,127

1) Refers to Time Deposit and Sweep Account applications, maturing up to 90 days.

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MARKETABLE SECURITIES (Tables)

6 Months Ended

Jun. 30, 2020

MARKETABLE SECURITIES

Schedule of marketable securities

	Average yield	June 30,	December 31,
	p.a. %	2020	2019
In local currency
Investment funds	25.61% of CDI	6,587	6,683
Private funds	93.31% of CDI	12,668	1,431,303
Public titles measured at fair value through profit or loss	93.31% of CDI	825,972	1,631,319
Private Securities (Compromised)	100.00% of CDI	1,185,333	3,081,326
Private Securities (Compromised) - Escrow Account (1)	102.00% of CDI	182,936	179,703
		2,213,496	6,330,334
Current		2,030,560	6,150,631
Non-Current		182,936	179,703

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TRADE ACCOUNTS RECEIVABLE (Tables)

6 Months Ended

Jun. 30, 2020

TRADE ACCOUNTS RECEIVABLE

Schedule of trade accounts receivable by type of customer

	June 30,	December 31,
	2020	2019
Domestic customers
Third parties	888,372	1,027,034
Related parties (Note 11) (1)	35,394	23,761
Foreign customers
Third parties	2,891,501	2,027,018
(-) Expected credit losses	(52,392)	(41,996)
	3,762,875	3,035,817

Schedule of trade accounts receivable by maturity

	June 30,	December 31,
	2020	2019
Current	3,236,279	2,552,459
Overdue
Up to 30 days	324,675	180,909
From 31 to 60 days	72,830	148,388
From 61 to 90 days	23,836	20,448
From 91 to 120 days	15,518	20,680
From 121 to 180 days	10,844	17,899
More than 180 days	78,893	95,034
	3,762,875	3,035,817

Schedule of rollforward of expected credit losses, trade accounts receivable

	June 30,	December 31,
	2020	2019
Beginning balance	(41,996)	(37,179)
Business combination		(5,947)
Addition	(10,250)	(18,650)
Reversal	187	6,364
Write-off	2,117	13,383
Exchange rate variation	(2,450)	33
Ending balance	(52,392)	(41,996)

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INVENTORIES (Tables)

6 Months Ended

Jun. 30, 2020

INVENTORIES

Schedule of inventories

	June 30,	December 31,
	2020	2019
Finished goods
Pulp
Domestic (Brazil)	430,958	575,335
Foreign	1,407,928	2,229,206
Paper
Domestic (Brazil)	372,952	199,635
Foreign	118,701	70,199
Work in process	98,037	75,377
Raw material	1,300,430	1,047,433
Spare parts and other	477,772	488,410
	4,206,778	4,685,595

Schedule of rollforward of expected credit losses, inventories

	June 30,	December 31,
	2020	2019
Beginning balance	(106,713)	(33,195)
Business combination		(11,117)
Addition (1)	(33,653)	(111,077)
Reversal	1,033	9,734
Write-off (2)	71,351	38,942
Ending balance	(67,982)	(106,713)

1)The estimated losses, in the six-month period ended June 30, 2020, refers substantially to the raw material in the amount of R$27,326  (R$57,384 as of December 31, 2019).

2)    The write-off of inventory, in the six-month period ended June 30, 2020, refers mainly to the amounts of (i) finished pulp product of  R$31,088 (R$666 as of December 31, 2019) and (ii) raw material of R$32,600 (R$26,083 as of December 31, 2019).

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RECOVERABLE TAXES (Tables)

6 Months Ended

Jun. 30, 2020

RECOVERABLE TAXES

Schedule of recoverable taxes

	June 30,	December 31,
	2020	2019
IRPJ/CSLL – prepayments and withheld taxes	562,835	575,351
PIS/COFINS – on acquisition of property, plant and equipment (1)	133,182	61,376
PIS/COFINS – operations	303,636	507,919
PIS/COFINS – exclusion ICMS (2)	128,115	128,115
ICMS – on acquisition of property, plant and equipment (3)	109,045	115,560
ICMS – operations (4)	1,500,659	1,515,840
Reintegra program (5)	119,580	108,657
Other taxes and contributions	22,680	18,758
Provision for loss of ICMS credits (6)	(1,279,208)	(1,304,329)
Provision for loss of PIS/COFINS credits		(21,132)
	1,600,524	1,706,115
Current	888,245	997,201
Non-current	712,279	708,914

1)   Social Integration Program (“PIS”) and Social Security Funding Contribution (“COFINS”): Credits whose realization is in connection with depreciation year of the corresponding asset.

2)    The Company filed legal actions claiming the exclusion of ICMS from the PIS and COFINS contribution tax basis, in relation to certain operations for certain periods starting from March 1992.

Regarding this subject, the Federal Supreme Court (“STF”) initially decided on March 15th, 2017, that ICMS is not included in the tax basis of the aforementioned contributions. The Federal Government made an appeal (“Embargos de Declaração”) in October 2017, requesting the reversal of the Supreme Court’s initial decision among other items. The appeal has yet to be judged.

Based on the Supreme Court’s initial decision and the legal opinion provided by external legal consultants, the Company believes that the probability of the Supreme Court altering its decision is remote. The Company thus started to exclude the ICMS from the tax basis of the referred contributions since August 2018, a practice also supported by court decisions.

For certain PIS and COFINS credits to be recovered, the Company has received final favorable court decisions. The balance recognized in the statement of income (loss) in 2019 within other operational results, regarding certain claims for the calculation period from 2006 to July 2018. The Company has estimated the amount attributable to these claims based on the available relevant fiscal documents, and this amount is subject to adjustments to be recorded by management in the future periods.

The Company has additional claims for which a final decision has not been received and for which no asset or gain have been recorded.

3)   Tax on Sales and Services (“ICMS”): Credits from the acquisition of property, plant and equipment are recovered on a linear basis over a four period, from the acquisition date, in accordance with the relevant regulation, ICMS Control on Property, Plant and Equipment (“CIAP”).

4)   ICMS credits accrued due to the volume of exports and credit generated in operations of entry of products:  Credits are concentrated in the state of Maranhão, Espírito Santo, Bahia and Mato Grosso do Sul, where the Company realizes the credits through sale of credits to third parties, after approval from the State Ministry of Finance. Credits are also being realized through consumption in its consumer goods (tissue) operations in the domestic market that are already operational in Maranhão.

5)   Special Regime of Tax Refunds for Export Companies ("Reintegra"): Reintegra is a program that aims to refund the residual costs of taxes paid throughout the exportation chain to taxpayers, to make them more competitive in foreign markets.

6)   Includes the provision for discount on sale to third parties of the accumulated ICMS credit in Maranhão and the provision for full loss of the low probability of realization of the units of Espírito Santo, Bahia and Mato Grosso do Sul due to the difficulty of its realization.

Schedule of rollforward of provision for loss

	ICMS	PIS/COFINS	Total
Balance as of December 31, 2018	(10,792)		(10,792)
Business combination	(1,211,109)		(1,211,109)
Addition	(82,428)	(21,132)	(103,560)
Balance as of December 31, 2019	(1,304,329)	(21,132)	(1,325,461)
Addition	(48,151)		(48,151)
Write-off	73,272	21,132	94,404
Balance as of June 30, 2020	(1,279,208)		(1,279,208)

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ADVANCE TO SUPPLIERS (Tables)

6 Months Ended

Jun. 30, 2020

ADVANCE TO SUPPLIERS

Schedule of advances to suppliers

	June 30,	December 31,
	2020	2019
Forestry development program	1,149,832	1,087,149
Advance to suppliers	106,636	170,481
	1,256,468	1,257,630
Current	106,636	170,481
Non-current	1,149,832	1,087,149

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RELATED PARTIES (Tables)

6 Months Ended

Jun. 30, 2020

RELATED PARTIES

Schedule of related party transactions

		Balances receivable (payable)
		June 30,	December 31,
	Nature	2020	2019
Transactions with controlling shareholders
Suzano Holding S.A.	Granting of guarantees and administrative expenses	5	3
		5	3
Transactions with companies of the Suzano Group and other related parties
Management	Reimbursement for expenses	—	(1)
Bexma Participações Ltda.	Reimbursement for expenses	2	1
Bizma Investimentos Ltda.	Reimbursement for expenses	1	1
Ensyn Technologies	Reimbursement for expenses	2,004	—
Ibema Companhia Brasileira de Papel	Sale of pulp	33,382	23,755
Ibema Companhia Brasileira de Papel	Purchase of products	(1,448)	(2,467)
Instituto Ecofuturo - Futuro Para o Desenvolvimento Sustentável	Social services	—	(9)
		33,941	21,280
		33,946	21,283
Assets
Trade accounts receivable		35,394	23,761
Liabilities
Trade accounts payable		(1,448)	(2,478)
		33,946	21,283

		Expenses (income)
		June 30,	June 30,
	Nature	2020	2019
Transactions with controlling shareholders
Suzano Holding S.A.	Granting of guarantees and administrative expenses	(2,459)	(3,285)
		(2,459)	(3,285)
Transactions with companies of the Suzano Group and other related parties
Management	Reimbursement for expenses	(831)	(595)
Bexma Participações Ltda.	Reimbursement for expenses	7	3
Bizma Investimentos Ltda.	Reimbursement for expenses	7	6
Fundação Arymax	Reimbursement for expenses	1	—
Ibema Companhia Brasileira de Papel	Sale of paper	48,829	66,769
Ibema Companhia Brasileira de Papel	Purchase of products	(2,241)	(3,415)
Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável	Social services	(2,379)	(2,538)
IPFL Holding S.A	Reimbursement for expenses	2	1
Lazam MDS Corretora e Adm. Seguros S.A.	Sale of paper	—	4
Mabex Representações e Participações Ltda.	Aircraft services	(50)	(100)
Nemonorte Imóveis e Participações Ltda.	Real estate advisory	(99)	(225)
		43,246	59,910
		40,787	56,625

Schedule of management compensation

	June 30,	June 30,
	2020	2019
Short-term benefits
Salary or compensation	22,866	19,010
Direct and indirect benefits	450	787
Bonus	3,250	5,781
	26,566	25,578
Long-term benefits
Share-based compensation plan	45,529	45,051
	45,529	45,051
	72,095	70,629

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INCOME AND SOCIAL CONTRIBUTION TAXES (Tables)

6 Months Ended

Jun. 30, 2020

INCOME AND SOCIAL CONTRIBUTION TAXES

Schedule of deferred income and social contribution taxes

	June 30,	December 31,
	2020	2019
Tax loss carryforwards	772,460	600,249
Negative tax base	226,230	146,346
Provision for judicial liabilities	255,947	265,571
Operating provisions and other losses	908,399	914,696
Exchange rate variation (1)	7,418,386	2,001,942
Losses on derivatives (“MtM”) (1)	3,678,024	618,427
Fair value adjustment on business combination – Amortization	713,180	713,656
Unrealized profit on inventories	357,240	293,322
Lease	330,669	22,044
Assets temporary differences	14,660,535	5,576,253
Goodwill - Tax benefit on unamortized goodwill	351,107	216,857
Property, plant and equipment - deemed cost adjustment	1,487,102	1,506,220
Accelerated tax depreciation	1,068,735	1,113,200
Borrowing cost	118,071	104,549
Fair value of biological assets	123,668	53,502
Tax provision on results of subsidiaries abroad	585,516	463,850
Fair value adjustment on business combination  – Deferred taxes, net	485,994	502,347
Tax credits - gains in tax lawsuit (ICMS from the PIS/COFINS calculation basis)	43,559	43,559
Other temporary differences	17,491	17,004
Liabilities temporary differences	4,281,243	4,021,088
Non-current assets	10,454,646	2,134,040
Non-current liabilities	75,354	578,875

Schedule of accumulated tax losses and social contribution tax loss carryforwards

	June 30,	December 31,
	2020	2019
Tax loss carry forward	3,089,840	2,400,998
Social contribution tax loss carryforward	2,513,672	1,626,064

Schedule of rollforward of net balance of deferred income tax

	June 30,	December 31,
	2020	2019
Beginning balance	1,555,165	(1,029,135)
Business combination	—	1,034,842
Tax loss	172,211	270,559
Tax loss carryforwards	79,884	139,719
(Reversal)/provision for judicial liabilities	(9,624)	31,262
Operating provisions and other losses	(6,297)	(21,757)
Exchange rate variation (1)	5,416,444	552,421
Derivative losses (“MtM”)(1)	3,059,597	319,860
Fair value adjustment on business combination – Amortization	15,879	699,527
Unrealized profit on inventories	63,918	65,492
Lease	308,625	(3,274)
Tax benefit on unamortized goodwill	(134,250)	(203,696)
Property, plant and equipment - Deemed cost	19,118	46,359
Accelerated depreciation	44,465	82,982
Borrowing cost	(13,522)	44,727
Fair value of biological assets	(70,166)	(60,778)
Tax provision on results of subsidiaries abroad	(121,666)	(351,485)
Tax credits - gains in tax lawsuit (ICMS from the PIS/COFINS calculation basis)	—	(43,559)
Other temporary differences	(489)	(18,901)
Ending balance	10,379,292	1,555,165

1)The variation is due to the increase in the exchange rate in the six-month period ended June 30, 2020.

Schedule of reconciliation of the effects of income tax and social contribution on profit or loss

	June 30,		June 30,
	2020		2019
Loss before taxes	(24,236,648)		(789,205)
Income tax and social contribution benefit (expense) at statutory nominal rate of 34%	8,240,460		268,330
Tax effect on permanent differences
Taxation (difference) on profit of wholly-owned subsidiaries abroad (1)	746,640		21,301
Tax incentive - Reduction SUDENE (2)	—		23,216
Equity method	(1,004)		(1,893)
Thin capitalization (3)	(252,808)		(50,437)
Credit related toReintegra Program	3,367		2,988
Tax incentives applicable to income tax (4)	3,925		3,247
Director bonus	(5,508)		(42,682)
Donations / Fines - Other	29,997		35,851
	8,765,069		259,921
Income tax
Current	(57,006)		(113,570)
Deferred	6,486,044		299,726
	6,429,038		186,156
Social Contribution
Current	(823)		(78,008)
Deferred	2,336,854		151,773
	2,336,031		73,765
Income and social contribution benefits (expenses) on the period	8,765,069		259,921
Effective rate of income and social contribution tax expenses	36.16	%	32.93	%

1)The effect of the difference in taxation of subsidiaries is substantially due to the difference between the nominal rates of Brazil and subsidiaries abroad.

2)Benefit used to reduce 75% of the tax calculated based on the operating profit of the Mucuri / BA and Imperatriz / MA facilities.

3)The Brazilian thin capitalization rules establish that interest paid or credited by a Brazilian entity to a related party may only be deducted for income tax purposes if the interest expense is viewed as necessary for the activities of the local entity and when determined limits and requirements are met. On June 30, 2020 the Company did not meet all limits and requirements, therefore a provision for tax payment was recorded.

4)Income tax deduction amount referring to the use of the PAT (“Worker Feeding Program”) benefit and donations made in cultural and sports projects.

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BIOLOGICAL ASSETS (Tables)

6 Months Ended

Jun. 30, 2020

BIOLOGICAL ASSETS

Schedule of changes in balances of biological assets

Balances on December 31, 2018	4,935,905
Business combination	4,579,526
Addition	2,849,039
Depletion	(1,905,118)
Gain on fair value adjustment	185,399
Disposal	(23,764)
Other write-offs	(49,488)
Balances on December 31, 2019	10,571,499
Addition	1,401,424
Depletion	(1,433,410)
Transfers	678
Gain on fair value adjustment	173,733
Disposal	(39,910)
Other write-offs	(1,290)
Balances on June 30, 2020	10,672,724

For the six-month period ended June 30, 2020, the Company reassessed the main assumptions used in measuring the fair value of biological assets. The fair value of forests is determined by the income method (“income approach”) using the discounted cash flow model.

The calculation of fair value of the biological assets falls under Level 3 in the hierarchy set forth in IFRS 13 — Measurement of Fair Value, due to the complexity and structure of calculation.

The main assumptions, IMA, discount rate, and selling price stand out as being the most sensitive where increases or reductions in these assumptions generate significant gains or losses in the measurement of fair value.

Schedule of main assumptions for calculation of fair value of biological assets

	June 30,
	2020
Planted useful area (hectare)	960,109
Mature assets	107,861
Immature assets	852,248
Average annual growth (IMA) - m3 /hectare /year	36.16
Average gross sale price of eucalyptus - R$/m3	66.86
Discount rate - %	8.6%

Summary of fair value adjustment of biological assets recognized under other operating income (expense), net

	June 30,
	2020
Physical changes	384,574
Price	(210,841)
	173,733

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INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2020

INVESTMENTS

Schedule of investments by type

	June 30,	December 31,
	2020	2019
Investments in associates and joint ventures	132,625	140,934
Goodwill	166,819	161,464
Other investments evaluated at fair value through other comprehensive income	25,976	20,048
	325,420	322,446

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PROPERTY, PLANT AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2020

PROPERTY, PLANT AND EQUIPMENT

Schedule of property, plant and equipment

			Machinery,
			equipment	Work in
	Lands	Buildings	and facilities	progress	Other (1)	Total
Average rate %		3	5		10 to 20
Cost
Balance as of December 31, 2018	5,104,717	3,058,520	16,441,031	466,156	332,089	25,402,513
Additions	337,932	1,943	136,855	1,477,420	47,524	2,001,674
Write-offs	(92,705)	(36,276)	(172,458)	(1,462)	(34,858)	(337,759)
Business combination	2,151,338	3,918,552	20,255,811	425,868	454,759	27,206,328
Fair value adjustment - Fibria	2,637,671	1,502,021	5,109,939		195,684	9,445,315
Fair value adjustment – Facepa			3,072	(883)	(111)	2,078
Fair value adjustment – Ibema			5,448			5,448
Transfer and other (2)	182,621	323,029	740,879	(1,397,398)	(61,761)	(212,630)
Balance as of December 31, 2019	10,321,574	8,767,789	42,520,577	969,701	933,326	63,512,967
Additions		1,660	100,769	452,661	4,036	559,126
Write-offs	(20,032)	(1,427)	(14,685)	(5)	(5,162)	(41,311)
Transfer and other (2)	36,733	391,322	232,284	(760,831)	68,949	(31,543)
Balance as of June 30, 2020	10,338,275	9,159,344	42,838,945	661,526	1,001,149	63,999,239
Depreciation
Balance as of December 31, 2018	—	(906,616)	(7,248,143)	—	(227,495)	(8,382,254)
Additions	—	(255,888)	(2,123,193)	—	(91,170)	(2,470,251)
Write-offs	—	26,886	115,732	—	13,944	156,562
Business combination	—	(1,804,967)	(9,552,825)	—	(249,087)	(11,606,879)
Additions - Fair value adjustment from business combination - Fibria	—	(63,495)	(543,468)	—	(17,364)	(624,327)
Fair value adjustment from business combination - Facepa	—	(5,742)	(6,481)	—	(95)	(12,318)
Fair value adjustment from business combination - Ibema	—		(593)	—		(593)
Transfer and other (2)	—	29,906	508,585	—	9,547	548,038
Balance as of December 31, 2019	—	(2,979,916)	(18,850,386)	—	(561,720)	(22,392,022)
Additions		(138,227)	(1,191,572)		(50,612)	(1,380,411)
Write-offs		549	9,774		5,067	15,390
Balance as of June 30, 2020		(3,117,594)	(20,032,184)		(607,265)	(23,757,043)
Book value
Balance as of December 31, 2019	10,321,574	5,787,873	23,670,191	969,701	371,606	41,120,945
Balance as of June 30, 2020	10,338,275	6,041,750	22,806,761	661,526	393,884	40,242,196

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INTANGIBLE (Tables)

6 Months Ended

Jun. 30, 2020

INTANGIBLE

Schedule of goodwill and intangible assets with indefinite useful life

	June 30,	December 31,
	2020	2019
Vale Florestar	45,435	45,435
FACEPA	119,332	119,332
Fibria	7,897,051	7,897,051
Other (1)	1,196	1,196
	8,063,014	8,063,014

1) Refer to other intangible assets with indefinite useful life such as servitude and electricity.

Schedule of intangible assets with determined useful life

		June 30,	December  31,
		2020	2019
Beginning balance		9,649,789	180,311
Business combination			308,681
Additions		513	17,715
Fair value adjustment on business combination			702
Amortization		(491,593)	(74,332)
Fair value adjustment on business combination			10,159,550
Port concession			54,470
Lease agreements			44,371
Supplier agreements			172,094
Port services agreements			694,590
Cultivars			142,744
Customer portfolio			9,030,779
Software			20,502
Fair value adjustment on business combination - Amortization			(956,577)
Port concession			(2,147)
Lease agreements			(7,499)
Supplier agreements			(72,097)
Port services agreements			(29,362)
Cultivars			(20,392)
Customer portfolio			(820,980)
Software			(4,100)
Fair value adjustment on business combination - Amortization			(15,454)
Exchange rate variation			2,930
Transfers and others		3,374	26,263
Ending balance		9,162,083	9,649,789
	Average
Represented by	rate %
Non-compete agreement	5	1,810	2,150
Research and development agreement	19	70,457	74,643
Ports concession	4	214,431	219,256
Lease agreements	17	33,122	36,871
Supplier agreements	13 to 100	92,590	99,997
Port service contracts	4	656,166	665,228
Cultivars	14	112,156	122,352
Development and implementation of systems	20	1,534	1,687
Trademarks and patents	5 to 10	17,368	20,649
Customer portfolio	2.5 to 9	7,801,989	8,217,192
Supplier agreements	5	46,406	51,562
Software	20	107,277	135,668
Others		6,777	2,534
		9,162,083	9,649,789

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TRADE ACCOUNTS PAYABLE (Tables)

6 Months Ended

Jun. 30, 2020

TRADE ACCOUNTS PAYABLE

Schedule of trade accounts payable

	June 30,	December 31,
	2020	2019
In local currency
Related party (note 11.1) (1)	1,448	2,478
Third party	1,588,280	1,288,774
In foreign currency
Third party (2)	491,805	1,085,207
	2,081,533	2,376,459

1) The consolidated balance refers to transactions with Ibema, in the domestic market, which are not eliminated in the consolidated as there is no control of the operations of these entities by the Company.

2) The Company had a take or pay agreement with Klabin S.A., under conditions differentiated in terms of volume, exclusivity, guarantees and payment terms in up to 360 days, and prices were practiced under conditions of contractually established. Following the requirements imposed by the European Union's competition authority, the contract with Klabin expired in July 2019. For the six-month period ended June 30, 2020, the amount of R$30,165 in the consolidated refers to purchases of Klabin's pulp.

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LOANS, FINANCING AND DEBENTURES (Tables)

6 Months Ended

Jun. 30, 2020

LOANS, FINANCING AND DEBENTURES

Schedule of loans, financing and debentures by type

		Average
		annual	Current		Non-current		Total
		interest rate -	June 30,	December 31,	June 30,	December 31,	June 30,	December 31,
Type	Interest rate	%	2020	2019	2020	2019	2020	2019
In foreign currency
BNDES	UMBNDES	5.93	32,941	26,307	27,165	27,620	60,106	53,927
Bonds (1)	Fixed	5.71	806,695	640,177	36,114,088	27,375,673	36,920,783	28,015,850
Export credits (ACC - pre-payment) (1)	LIBOR/Fixed	1.52	2,735,141	1,994,868	24,141,791	15,431,478	26,876,932	17,426,346
Others			6,445	3,481			6,445	3,481
			3,581,222	2,664,833	60,283,044	42,834,771	63,864,266	45,499,604
In local currency
BNDES	TJLP	7.18	285,382	283,658	1,389,771	1,517,649	1,675,153	1,801,307
BNDES	TLP	9.72	19,036	18,404	431,800	441,233	450,836	459,637
BNDES	Fixed	5.06	33,272	39,325	62,313	77,333	95,585	116,658
BNDES	SELIC	5.50	85,538	78,458	1,076,966	718,017	1,162,504	796,475
FINAME	Fixed	6.43	4,276	4,781	7,917	9,564	12,193	14,345
BNB	Fixed	6.73	35,300	37,815	139,361	156,904	174,661	194,719
CRA (“Agribusiness Receivables Certificates”)	CDI/IPCA	5.53	1,379,045	2,860,938	2,971,744	2,952,451	4,350,789	5,813,389
NCE (Export credit note)	CDI	5.73	65,940	131,914	1,273,045	1,270,065	1,338,985	1,401,979
Rural producer Certificate	CDI	8.62	3,955	5,840	273,440	273,303	277,395	279,143
Export credits (“Pre payment”)	Fixed	8.07	23,276	77,694	1,313,123	1,312,586	1,336,399	1,390,280
FCO (“Central West Fund”), FDCO (“Central West Development Fund”) and FINEP	Fixed	7.99	72,413	76,596	441,912	475,905	514,325	552,501
Others (Revolving Cost, Working capital and Industrial Development Fund (“FDI”) and fair value adjustment on business combination	Fixed	0.40	(52,342)	(62,302)	4,470	4,559	(47,872)	(57,743)
Debentures	CDI	6.27	9,810	9,997	5,413,548	5,412,035	5,423,358	5,422,032
			1,964,901	3,563,118	14,799,410	14,621,604	16,764,311	18,184,722
			5,546,123	6,227,951	75,082,454	57,456,375	80,628,577	63,684,326
Interest on financing			1,019,483	886,886		136,799	1,019,483	1,023,685
Non-current funding			4,526,640	5,341,065	75,082,454	57,319,576	79,609,094	62,660,641
			5,546,123	6,227,951	75,082,454	57,456,375	80,628,577	63,684,326

1) The variation is due to the increase in the exchange rate in the six-month period ended June 30, 2020.

Schedule of changes in loans, financing and debentures

	June 30,	December 31,
	2020	2019
Beginning balance	63,684,326	35,737,509
Amounts from the business combination		20,667,096
Reclassification - accounts payable from lease operations		(18,225)
Fundraising	6,700,529	18,993,837
Interest accrued	1,736,775	3,362,250
Exchange rate variation, net	16,364,585	1,781,562
Settlement of principal	(6,224,940)	(13,994,708)
Settlement of interest	(1,682,413)	(2,977,957)
Amortization of fundraising costs	39,055	185,807
Other	10,660	(52,845)
Ending balance	80,628,577	63,684,326

Schedule of non-current portion of loans, financing and debentures by maturity

	2021	2022	2023	2024	2025	2026	2027 onwards	Total
In foreign currency
BNDES - Currency basket	2,264	13,583	11,318					27,165
Bonds				3,266,344	3,238,123	3,822,186	25,787,435	36,114,088
Export credits (ACC pre-payment)	92,600	2,536,851	10,058,960	7,536,819	3,425,584	490,977		24,141,791
	94,864	2,550,434	10,070,278	10,803,163	6,663,707	4,313,163	25,787,435	60,283,044
In local currency
BNDES – TJLP	136,711	268,806	268,026	239,884	292,572	169,102	14,670	1,389,771
BNDES – TLP	9,433	18,866	18,866	18,866	17,618	20,120	328,031	431,800
BNDES – Fixed	14,475	24,560	18,599	4,679				62,313
BNDES – Selic	48,712	94,876	118,336	110,275	234,525	197,061	273,181	1,076,966
FINAME	1,908	2,786	1,656	1,198	369			7,917
BNB	17,569	33,081	35,199	33,085	10,258	10,169		139,361
CRA (“Agribusiness Receivables Certificates”)		1,512,680	1,459,064					2,971,744
Export credit note					640,800	632,245		1,273,045
Rural producer certificate					137,500	135,940		273,440
Export credits (“Pre payment”)				1,313,123				1,313,123
FCO (“Central West Fund”), FDCO (“Central West Development Fund”) and FINEP	33,993	67,986	67,986	67,986	67,986	67,986	67,989	441,912
Others (Revolving costs, working capital, FIDC and FDI)	4,470							4,470
Debentures					2,340,550	2,325,659	747,339	5,413,548
	267,271	2,023,641	1,987,732	1,789,096	3,742,178	3,558,282	1,431,210	14,799,410
	362,135	4,574,075	12,058,010	12,592,259	10,405,885	7,871,445	27,218,645	75,082,454

Schedule of loans and financing by currency

	June 30,	December 31,
	2020	2019
Brazilian Reais	16,751,206	18,170,261
U.S. Dollar	63,817,265	45,460,138
Currency basket	60,106	53,927
	80,628,577	63,684,326

Schedule of fundraising costs and premiums of securities

The fundraising costs are amortized based on terms agreements and effective interest rate.

			Balance to be amortized
			June 30,	December 31,
Nature	Cost	Amortization	2020	2019
Bonds	343,642	95,226	248,416	201,467
CRA and NCE	125,222	85,955	39,267	47,443
Export credits (ACC pre-payment)	102,769	33,875	68,894	40,382
Debentures	24,467	6,915	17,552	19,065
BNDES (“IOF”) (1)	62,658	18,435	44,223	38,447
Others	18,147	13,934	4,213	4,590
	676,905	254,340	422,565	351,394

1) Tax on Financial Operations

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LEASE (Tables)

6 Months Ended

Jun. 30, 2020

LEASE

Schedule of right of use assets

	Lands	Machines		Ships
	and	and		and
	Farms	Equipment’s	Buildings	boats	Vehicles	Total
Balance as of December 31, 2018
Initial adoption on January 1, 2019	1,762,943	143,685	41,570	1,408,640	1,012	3,357,850
Additions	260,982	1,529	39,794	612,022		914,327
Amortization (1)	(254,280)	(15,163)	(35,365)	(116,207)	(925)	(421,940)
Balance as of December 31, 2019	1,769,645	130,051	45,999	1,904,455	87	3,850,237
Additions	337,323	2,153	26,716	194,907	63	561,162
Amortization (1)	(119,220)	(5,054)	(10,521)	(76,771)	(29)	(211,595)
Balance as of June 30, 2020	1,987,748	127,150	62,194	2,022,591	121	4,199,804

1) The amount of R$118,286 (R$116,577 as of June 30, 2019) related to land is reclassified to biological assets to compose the formation cost.

Schedule of present value of lease liabilities

	Average rate - %			Present value of
Nature of agreement	p.a. (1)		Maturity (2)	liabilities
Lands and farms		11.45	January 2048	2,164,710
Machines and Equipment’s		10.62	July 2032	247,281
Buildings		9.80	November 2030	41,650
Ships and boats		11.39	February 2039	2,720,284
Vehicles		10.04	December 2021	47
				5,173,972

1) To determine the discount rates, quotes were obtained from financial institutions for agreements with characteristics and average terms similar to the lease agreements.

2) Refers to the original maturities of the agreements and, therefore, do not consider eventual renewal clause.

Summary of changes in lease liabilities

Balance as of December 31, 2018
Initial adoption on January 1, 2019	3,428,897
Additions	914,327
Payments	(646,487)
Accrual of financial charges (1)	275,404
Exchange rate variation	11,929
Balance as of December 31, 2019	3,984,070
Additions	561,162
Payments	(354,289)
Accrual of financial charges (1)	240,528
Exchange rate variation	742,501
Balance as of June 30, 2020	5,173,972
Current	704,174
Non-current	4,469,798

1) The amount of R$37,040 related to interest expenses on leased lands is capitalized to biological assets to compose the formation cost (R$30,440 as of June 30, 2019).

Schedule of expenses recognised in profit or loss

In the six-month period ended June 30, 2020 and 2019, the amounts recognized in the unaudited condensed consolidated interim financial information, are set for the below:

	June 30,	June 30,
	2020	2019
Expenses relating to short-term assets	2,531	26,570
Expenses relating to low-value assets	6,428	4,581
	8,959	31,151

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PROVISION FOR JUDICIAL LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2020

PROVISION FOR JUDICIAL LIABILITIES

Schedule of provisions for probable losses according to lawsuit natures

	June 30,
	2020
	Judicial
	deposits	Provision	Provision, net
Taxes	(130,502)	3,137,046	3,006,544
Labor	(54,975)	234,300	179,325
Civil and environment	(3,337)	258,919	255,582
	(188,814)	3,630,265	3,441,451

	December 31,
	2019
	Judicial
	deposits	Provision	Provision, net
Taxes	(124,133)	3,176,503	3,052,370
Labor	(50,464)	227,139	176,675
Civil and environment	273	283,159	283,432
	(174,324)	3,686,801	3,512,477

Schedule of changes in provisions for probable losses

	June 30,
	2020
			Civil and	Contingent
	Tax	Labor	environment	liabilities (1)	Total
Beginning balance	492,413	227,139	64,897	2,902,352	3,686,801
Payments	(22,706)	(16,161)	(13,826)		(52,693)
Write-off	(25,331)	(20,347)	(18,807)	(4,150)	(68,635)
Additions	5,362	30,920	5,951		42,233
Monetary adjustment	6,969	12,749	2,841		22,559
Ending balance	456,707	234,300	41,056	2,898,202	3,630,265

1) Amounts arising from lawsuits with probability of loss possible and remote, measured and recorded at the estimated fair value resulting from the business combination with Fibria, in accordance with paragraph 23 of IFRS 3 – Business Combination.

	December 31,
	2019
			Civil and	Contingent
	Tax	Labor	environment	liabilities (1)	Total
Beginning balance	296,869	50,869	3,532		351,270
Business combination	139,462	185,157	64,974		389,593
Payments	(34)	(34,794)	(5,532)		(40,360)
Write-off	(3,875)	(55,730)	(13,434)		(73,039)
Additions	46,603	50,521	10,100	2,902,352	3,009,576
Monetary adjustment	13,388	31,116	5,257		49,761
Ending balance	492,413	227,139	64,897	2,902,352	3,686,801

1) Amounts arising from lawsuits with probability of loss possible and remote, measured and recorded at the estimated fair value resulting from the business combination with Fibria, in accordance with paragraph 23 of IFRS 3 – Business Combination.

Schedule of possible losses for which no provision has been recorded

	June 30,	December 31,
	2020	2019
Taxes (1)	6,379,823	7,504,398
Labor	293,904	279,934
Civil and environment (1)	3,395,437	2,995,576
	10,069,164	10,779,908

1) The amounts above does not include the fair value adjustment allocated to probable contingencies of R$2,865,364, which were recorded at fair value resulting from business combinations with Fibria, in accordance with paragraph 23 of IFRS 3 - Business Combination, as presented in note 20.1.1. above.

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SHARE-BASED COMPENSATION PLAN (Tables)

6 Months Ended

Jun. 30, 2020

SHARE-BASED COMPENSATION PLAN

Schedule of changes in phantom shares options

	June 30,	December 31,
	2020	2019
Number of shares in the beginning balance	5,996,437	5,045,357
Granted during of the period	869,251	2,413,038
Exercised (1)	(755,707)	(827,065)
Exercised due to resignation (1)	(13,211)	(106,983)
Abandoned / prescribed due to resignation	(123,457)	(527,910)
Number of shares in the ending balance	5,973,313	5,996,437

1) The average price for share options exercised and exercised due to termination of employment, for the six-month period ended June 30, 2020 was R$38.48 (thirty-eight Brazilian Reais and forty-eight cents) (R$31.75 (thirty-one Brazilian Reais and seventy-five cents) as of December 31, 2019).

Summary of activity for common stock options

		Deadline for the
		options to become	Price on		Shares	Restricted year for
Program	Date of grant	exercisable	grant date		Granted	transfer of shares
Program 4	01/02/2018	01/02/2019	R$	39.10	130,435	01/02/2022

Schedule of amounts corresponding to services received and recognized

	Liabilities and equity		Income Statement
	June 30,	December 31,	June 30,	June 30,
	2020	2019	2020	2019
Non-current liabilities
Provision for phantom stock plan	151,365	136,505	(49,143)	(27,529)
Shareholders' equity
Stock option granted	7,459	5,979	(1,480)	(2,638)
Total general and administrative expenses from share-based transactions			(50,623)	(30,167)

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LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES (Tables)

6 Months Ended

Jun. 30, 2020

LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES

Schedule of liabilities for assets acquisitions

	June 30,	December 31,
	2020	2019
Lands and forests acquisition
Real estate receivables certificates (1)	76,286	78,345
	76,286	78,345
Business combination
Facepa (2)	42,952	42,533
Vale Florestar Fundo de Investimento em Participações ("VFFIP") (3)	538,897	420,737
	581,849	463,270
	658,135	541,615
Current liabilities	127,721	94,414
Non-current liabilities	530,414	447,201

1) Refers to obligations with the acquisition of land, farms, reforestation and houses built in Maranhão, restated by the IPCA.

2) Acquired in March 2018, for the amount of R$307,876, upon payment of R$267,876 and the remaining restated at the Amplified Consumer Price Index (“IPCA”), adjusted by any losses incurred through the payment date, with maturities in March 2023 and March 2028.

3) On August 2014, the Company acquired the Vale Florestar S.A. through VFFIP, for the total amount of R$528,941 with a upon payment of R$44,998 and remaining with maturity to August 2029. The monthly settlements are subject to interest and restated at the variation of the U.S. Dollar exchange rate and partially restated by variation of the IPCA.

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SHAREHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2020

SHAREHOLDERS' EQUITY

Schedule of share capital

	Ordinary
	Quantity	(%)
Shareholder
Controlling Shareholders
Suzano Holding S.A.	367,612,329	27.01
Controller	194,809,797	14.31
Managements	35,564,742	2.61
Alden Fundo de Investimento em Ações	26,154,741	1.92
	624,141,609	45.85
Treasury	12,042,004	0.88
BNDESPAR	150,217,425	11.04
Votorantim S.A.	75,180,059	5.52
Other shareholders	499,682,487	36.71
	1,361,263,584	100.00

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EARNINGS (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2020

EARNINGS (LOSS) PER SHARE

Schedule of basic earnings (losses) per share

	June 30,	June 30,
	2020	2019
Resulted of the period attributable for controlling shareholders'	(15,479,631)	(526,255)
Weighted average number of shares in the period	1,361,264	1,361,264
Weighted average treasury shares	(12,042)	(12,042)
Weighted average number of outstanding shares	1,349,222	1,349,222
Basic loss per common share - R$	(11.47301)	(0.39004)

Schedule of diluted earnings (losses) per share

	June 30,	June 30,
	2020	2019
Resulted of the period attributed to controlling shareholders'	(15,479,631)	(526,255)
Weighted average number of shares in the period (except treasury shares)	1,349,222	1,349,222
Weighted average number of shares (diluted)	1,349,222	1,349,222
Diluted loss per common share - R$	(11.47301)	(0.39004)

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NET FINANCIAL RESULT (Tables)

6 Months Ended

Jun. 30, 2020

NET FINANCIAL RESULT

Schedule of net financial result

	June 30,	June 30,
	2020	2019
Financial expenses
Interest on loans, financing and debentures (1)	(1,728,835)	(1,674,698)
Amortization of fundraising costs	(41,268)	(159,856)
Amortization of fair value adjustment on business combination	(10,660)	63,128
Other financial expenses	(338,787)	(307,570)
	(2,119,550)	(2,078,996)
Financial income
Cash and cash equivalents and marketable securities	108,427	214,116
Amortization of fair value adjustment on business combination	47,619	37,412
Other financial income	47,127	47,401
	203,173	298,929
Income from derivative financial instruments
Income	990,989	1,052,879
Expenses	(11,826,103)	(1,432,386)
	(10,835,114)	(379,507)
Monetary and exchange rate variation, net
Exchange rate variation on loans, financing and debentures	(16,364,585)	421,010
Lease	(742,501)	(11,684)
Other assets and liabilities (2)	1,757,291	(106,830)
	(15,349,795)	302,496
	(28,101,286)	(1,857,078)

1) Does not include the amount of R$7,940 arising from capitalized interest for the six-month period ended June 30, 2020 (R$1,505 as of June 30, 2019).

2) Includes effects of exchange rate variations of customers, suppliers, cash and cash equivalents, marketable securities and others.

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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2020

SEGMENT INFORMATION

Schedule of operating segments

	June 30, 2020
					Not
	Pulp		Paper		segmented	Total
Net sales	12,862,936		2,113,530			14,976,466
Domestic market (Brazil)	741,568		1,372,423			2,113,991
Foreign market	12,121,368		741,107			12,862,475
Cost of sales	(8,246,527)		(1,362,166)			(9,608,693)
Gross profit	4,616,409		751,364			5,367,773
Gross margin (%)	35.89	%	35.55	%		35.84	%
Operating income (expenses)	(1,179,960)		(323,175)			(1,503,135)
Selling	(875,343)		(186,691)			(1,062,034)
General and administrative	(460,226)		(190,325)			(650,551)
Other operating, net	170,212		42,190			212,402
Income (loss) from associates and joint ventures	(14,603)		11,651			(2,952)
Operating profit before net financial income ("EBIT") (1)	3,436,449		428,189			3,864,638
Operating margin (%)	26.72	%	20.26	%		25.80	%
Financial result, net					(28,101,286)	(28,101,286)
Net income (loss) before taxes	3,436,449		428,189		(28,101,286)	(24,236,648)
Income taxes					8,765,069	8,765,069
Net income (loss) for the period	3,436,449		428,189		(19,336,217)	(15,471,579)
Profit (loss) margin for the period (%)	26.72	%	20.26	%		(103.31)	%
Result of the period attributable to controlling Shareholders	3,436,449		428,189		(19,344,269)	(15,479,631)
Result of the period attributed to non-controlling shareholders					8,052	8,052
Depreciation, depletion and amortization	3,126,528		231,053			3,357,581

1) Earnings before interest and tax.

	June 30, 2019
					Not
	Pulp		Paper		segmented	Total
Net sales	10,055,757		2,308,324			12,364,081
Domestic market (Brazil)	984,098		1,591,902			2,576,000
Foreign market	9,071,659		716,422			9,788,081
Cost of sales	(8,414,712)		(1,532,300)			(9,947,012)
Gross profit	1,641,045		776,024			2,417,069
Gross margin (%)	16.3	%	33.6	%		19.5	%
Operating income (expenses)	(971,698)		(377,498)			(1,349,196)
Selling	(712,005)		(186,279)			(898,284)
General and administrative	(418,980)		(189,816)			(608,796)
Other operating, net	159,287		(6,972)			152,315
Income from associates and joint ventures			5,569			5,569
Operating profit before net financial income ("EBIT") (1)	669,347		398,526			1,067,873
Operating margin (%)	6.7	%	17.3	%		8.6	%
Financial result, net					(1,857,078)	(1,857,078)
Net income (loss) before  taxes	669,347		398,526		(1,857,078)	(789,205)
Income taxes					259,921	259,921
Net income (loss) for the period	669,347		398,526		(1,597,157)	(529,284)
Profit (loss) margin for the period (%)	6.7	%	17.3	%		(4.3)	%
Result of the period attributable to controlling shareholders	669,347		398,526		(1,594,128)	(526,255)
Result of the period attributed to non-controlling shareholders					(3,029)	(3,029)
Depreciation, depletion and amortization	4,455,493		239,955			4,695,448

1) Earnings before interest and tax.

Schedule of paper net sales by product

	June 30,	June 30,
Products	2020	2019
Market pulp(1)	12,862,936	10,055,757
Printing and writing paper(2)	1,661,611	1,902,733
Paperboard	430,292	382,440
Other	21,627	23,151
Net sales	14,976,466	12,364,081

1) Revenue from fluff pulp represents (around 0.6% of total net sales) and, therefore, was included in market pulp sales.

2) Tissue is a recently launched product and its revenues represent less than 2.6% of total net sales. Therefore, it was included in the sales of printing and writing paper.

Goodwill based on expected future profitability

	June 30,	December 31,
	2020	2019
Pulp	7,942,486	7,942,486
Consumer goods	119,332	119,332
	8,061,818	8,061,818

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RESULTS BY NATURE (Tables)

6 Months Ended

Jun. 30, 2020

RESULTS BY NATURE

Schedule of results by nature

	June 30,	June 30,
	2020	2019
Cost of sales (1)
Personnel expenses	(505,895)	(724,815)
Costs with raw materials, materials and services	(4,059,893)	(3,328,416)
Logistics cost	(2,025,824)	(1,278,385)
Depreciation, depletion and amortization (2)	(2,843,700)	(4,321,013)
Operating expenses Covid-19 (3)	(15,500)
Other	(157,881)	(294,383)
	(9,608,693)	(9,947,012)
Selling expenses
Personnel expenses	(93,913)	(100,942)
Services	(53,938)	(41,602)
Logistics cost	(410,230)	(273,414)
Depreciation, depletion and amortization	(460,597)	(441,995)
Other (4)	(43,356)	(40,331)
	(1,062,034)	(898,284)
General and Administrative expenses
Personnel expenses	(351,108)	(351,784)
Services	(134,501)	(138,370)
Depreciation, depletion and amortization	(43,814)	(20,468)
Social actions Covid-19	(48,024)
Operating expenses Covid-19 (2)	(10,729)
Other (5)	(62,375)	(98,174)
	(650,551)	(608,796)
Other operating income (expenses) net
Rents and leases	2,365	668
Result from sale of other products, net	24,886	12,895
Result from sale and disposal of property, plant and equipment and biological assets, net	9,343	(27,568)
Result on fair value adjustment of biological assets	173,733	83,453
Insurance reimbursement	4,129	6,587
Provision for loss of judicial deposits		(3,284)
Amortization and depletion	(9,470)	(9,192)
Sale of legal credits (Eletrobrás)		87,000
Result on disposal of investments	(9,404)
Other operating income (expenses), net	16,820	1,756
	212,402	152,315

1) Includes the amount of R$149,087, related to idle capacity and maintenance downtime (there were no expenses as of June 30, 2019).

2) In the period ended June 30, 2019 includes amortization of the inventories step up, resulting from the business combination with Fibria, in the amount of R$2,178,903.

3) Includes, mainly, expenses in the manufacturing units for the refurbishment of cafeterias and workplaces, expansion of the frequency of conservation, cleaning, hygiene and maintenance of common areas, public transport with greater space between passengers, distribution of masks and realization rapid tests on employees working in factories.

4) Includes expected credit losses, insurance, materials of use and consumption, expenses with travel, accommodation, participation in trade fairs and events.

5) Includes corporate expenses, insurance, materials of use and consumption social projects and donations, expenses with travel and accommodation.

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COMPANY'S OPERATIONS - Equity interest (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Veracel Celulose S.A.
Company Operations
Proportion of ownership interest in joint venture	50.00%	50.00%
Ibema Companhia Brasileira de Papel.
Company Operations
Proportion of ownership interest in joint venture	49.90%	49.90%
Ensyn Corporation
Company Operations
Participation equity in associate (as a percent)	25.30%	25.30%
F&E Tecnologies LLC
Company Operations
Participation equity in associate (as a percent)	50.00%	50.00%
Spinnova Oy
Company Operations
Participation equity in associate (as a percent)	24.06%	24.06%
CelluForce Inc.
Company Operations
Percentage of ownership in equity securities measured at FVOCI	8.30%	8.30%
AGFA - Com. Adm. e Participacoes Ltda.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Asapir Producao Florestal e Comrcio Ltda.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Comercial e Agrcola Paineiras Ltda.
Company Operations
Percentage of ownership interest in subsidiary	99.99%	99.99%
Facepa - Fbrica de Papel da Amaznia S.A.
Company Operations
Percentage of ownership interest in subsidiary	92.80%	92.80%
Fibria Celulose (USA) Inc.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Fibria Terminal de Celulose de Santos SPE S.A.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Fibria Overseas Finance Ltd.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Fibria Terminais Portuarios S.A.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
FuturaGene AgriDev Xinjiang Company Ltd.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
FuturaGene Biotechnology Shangai Company Ltd.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
FuturaGene Brasil Tecnologia Ltda.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
FuturaGene Delaware Inc.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
FuturaGene Hong Kong Ltd.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
FuturaGene Inc.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
FuturaGene Israel Ltd.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
FuturaGene Ltd.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
F&E Tecnologia do Brasil S.A.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Gansu FuturaGene Biotech Co. Ltd.
Company Operations
Percentage of ownership interest in subsidiary		100.00%
Itacel - Terminal de Celulose de Itaqui S.A.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Maxcel
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Mucuri Energetica S.A
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Ondurman Empreendimentos Imobiliarios Ltda.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Paineiras Logstica e Transporte Ltda.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Portocel - Terminal Espec. Barra do Riacho S.A.
Company Operations
Percentage of ownership interest in subsidiary	51.00%	51.00%
Projetos Especiais e Investimentos Ltda.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Rio Verde Participacoes e Propriedades Rurais S.A.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Stenfar S.A. Indl. Coml. Imp. Y. Exp.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Suzano Austria GmbH
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Suzano Canada Inc.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Suzano International Trade GmbH
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Suzano Participacoes do Brasil Ltda
Company Operations
Percentage of ownership interest in subsidiary		100.00%
Suzano Pulp and Paper America Inc.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Suzano Pulp and Paper Europe S.A
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Suzano Shanghai Ltd.
Company Operations
Percentage of ownership interest in subsidiary	100.00%
Suzano Trading Ltd.
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Suzano Trading International KFT
Company Operations
Percentage of ownership interest in subsidiary	100.00%	100.00%
Suzano Holding S.A.
Company Operations
Percentage of ownership interest in subsidiary	45.85%

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COMPANY'S OPERATIONS - Effects arising from COVID 19 (Details) - Covid 19 R$ in Thousands	6 Months Ended
	Jun. 30, 2020 BRL (R$) state item
Company Operations
Number of respirators acquired for donation	159
Number of masks acquired for donation	1,000,000
Disbursement for delivery of respirator | R$	R$ 9,584
Days for maintenance of 100% payroll	90 days
Number of communities supported	38
Rural and Territorial Development Program
Company Operations
Number of States Covered | state	5
Social Program
Company Operations
Number of masks acquired for donation	125,000
Number of States Covered | state	5
Disbursement for social actions | R$	R$ 48,024

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Rating (Details) - Financial risks management - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial Instruments and Risks Management
Financial Assets	R$ 18,067,589	R$ 14,298,291
Financial Liabilities	100,777,655	74,082,444
Financial liabilities, net of financial assets	82,710,066	59,784,153
Amortized cost
Financial Instruments and Risks Management
Financial Liabilities	88,879,323	71,164,531
Amortized cost | Loans, financing and debentures
Financial Instruments and Risks Management
Financial Liabilities	80,628,577	63,684,326
Amortized cost | Lease liabilities
Financial Instruments and Risks Management
Financial Liabilities	5,173,972	3,984,070
Amortized cost | Liabilities for asset acquisition and subsidiaries
Financial Instruments and Risks Management
Financial Liabilities	658,135	541,615
Amortized cost | Trade accounts payable
Financial Instruments and Risks Management
Financial Liabilities	2,081,533	2,376,459
Amortized cost | Other liabilities
Financial Instruments and Risks Management
Financial Liabilities	337,106	578,061
Fair value through profit or loss
Financial Instruments and Risks Management
Financial Liabilities	11,898,332	2,917,913
Fair value through profit or loss | Derivative financial instruments
Financial Instruments and Risks Management
Financial Liabilities	11,898,332	2,917,913
Amortized cost
Financial Instruments and Risks Management
Financial Assets	14,749,680	6,848,937
Amortized cost | Cash and cash equivalents
Financial Instruments and Risks Management
Financial Assets	10,473,701	3,249,127
Amortized cost | Trade accounts receivable
Financial Instruments and Risks Management
Financial Assets	3,762,875	3,035,817
Amortized cost | Other assets
Financial Instruments and Risks Management
Financial Assets	513,104	563,993
Fair value through other comprehensive income
Financial Instruments and Risks Management
Financial Assets	25,976	20,048
Fair value through other comprehensive income | Other investments
Financial Instruments and Risks Management
Financial Assets	25,976	20,048
Fair value through profit or loss
Financial Instruments and Risks Management
Financial Assets	3,291,933	7,429,306
Fair value through profit or loss | Derivative financial instruments
Financial Instruments and Risks Management
Financial Assets	1,078,437	1,098,972
Fair value through profit or loss | Marketable securities
Financial Instruments and Risks Management
Financial Assets	R$ 2,213,496	R$ 6,330,334

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Fair Value of Loans and Financing (Details) - Discount rate - Loans, financing and debentures - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Financial Instruments and Risks Management
Financial Liabilities, Fair Value	R$ 82,899,282	R$ 66,707,543
Foreign | Bonds | Fixed
Financial Instruments and Risks Management
Yield used to discount	Secondary Market	Secondary Market
Financial Liabilities, Fair Value	R$ 38,795,348	R$ 30,066,087
Foreign | Export credits ("Pre payment")
Financial Instruments and Risks Management
Yield used to discount	LIBOR	LIBOR
Financial Liabilities, Fair Value	R$ 26,123,478	R$ 17,213,963
Foreign | Export credits (ACC/ACE)
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 799,183	R$ 575,521
Domestic | BNP - Forest Financing
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 177,376	R$ 193,646
Domestic | BNDES | TJLP
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 1,759,652	R$ 1,895,959
Domestic | BNDES | TLP
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 523,828	R$ 535,812
Domestic | BNDES | Fixed
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 95,259	R$ 113,979
Domestic | BNDES | Selic
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 938,208	R$ 693,969
Domestic | BNDES | Currency basket
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 61,488	R$ 54,420
Domestic | CRA ("Agribusiness Receivables Certificates")
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 4,583,620	R$ 6,039,983
Domestic | Debentures
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 5,416,351	R$ 5,534,691
Domestic | FINAME ("Special Agency of Industrial Financing")
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 11,816	R$ 14,168
Domestic | FINEP ("Financier of Studies and Projects")
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 1,287	R$ 5,138
Domestic | NCE ("Export Credit Notes")
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 1,354,814	R$ 1,445,383
Domestic | NCR ("Rural Credit Notes")
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 280,876	R$ 288,122
Domestic | Export credits ("Pre payment")
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 1,435,407	R$ 1,464,798
Domestic | FDCO ("West Center Development Fund")
Financial Instruments and Risks Management
Yield used to discount	DI 1	DI 1
Financial Liabilities, Fair Value	R$ 541,291	R$ 571,904

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Liquidity Risk (Details) R$ in Thousands	Mar. 30, 2020 USD ($)	Mar. 30, 2020 BRL (R$)	Jun. 30, 2020 BRL (R$)	Feb. 28, 2020 USD ($)	Feb. 14, 2020 USD ($)	Feb. 14, 2020 BRL (R$)	Dec. 31, 2019 BRL (R$)
Revolving credit facility | LIBOR
Financial Instruments and Risks Management
Repayments of borrowings/ Settlement amount	$ 500,000	R$ 2,638,221
Interest rate adjustment	1.30%	1.30%
Suzano Pulp and Paper Europe S.A | Export prepayment ("PPE") | LIBOR
Financial Instruments and Risks Management
Principle amount					$ 750,000	R$ 3,240,229
Interest rate adjustment					1.15%	1.15%
Suzano Pulp and Paper Europe S.A., Suzano Austria GmbH and Fibria Overseas Finance Ltd | Export prepayment ("PPE") | LIBOR
Financial Instruments and Risks Management
Principle amount					$ 850,000	R$ 3,672,259
Interest rate adjustment					1.15%	1.15%
Suzano Trading Ltd. | Make-whole Senior Notes | LIBOR
Financial Instruments and Risks Management
Principle amount | $				$ 189,630
Interest rate				5.875%
Liquidity risk
Financial Instruments and Risks Management
Financial Liabilities, Book Value			R$ 100,777,655				R$ 74,082,444
Financial liabilities, Future Value			141,532,481				108,690,925
Liquidity risk | Not later than one year
Financial Instruments and Risks Management
Financial liabilities, Future Value			15,609,741				13,485,638
Liquidity risk | Later than one year and not later than two years
Financial Instruments and Risks Management
Financial liabilities, Future Value			7,771,535				7,756,823
Liquidity risk | Later than two years and not later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			53,060,464				31,848,867
Liquidity risk | Later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			65,090,741				55,599,597
Liquidity risk | Trade accounts payable
Financial Instruments and Risks Management
Financial Liabilities, Book Value			2,081,533				2,376,459
Financial liabilities, Future Value			2,081,533				2,376,459
Liquidity risk | Trade accounts payable | Not later than one year
Financial Instruments and Risks Management
Financial liabilities, Future Value			2,081,533				2,376,459
Liquidity risk | Loans, financing and debentures
Financial Instruments and Risks Management
Financial Liabilities, Book Value			80,628,577				63,684,326
Financial liabilities, Future Value			110,480,401				89,708,210
Liquidity risk | Loans, financing and debentures | Not later than one year
Financial Instruments and Risks Management
Financial liabilities, Future Value			7,742,122				8,501,278
Liquidity risk | Loans, financing and debentures | Later than one year and not later than two years
Financial Instruments and Risks Management
Financial liabilities, Future Value			4,575,792				5,692,149
Liquidity risk | Loans, financing and debentures | Later than two years and not later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			45,904,453				29,088,292
Liquidity risk | Loans, financing and debentures | Later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			52,258,034				46,426,491
Liquidity risk | Lease liabilities
Financial Instruments and Risks Management
Financial Liabilities, Book Value			5,173,972				3,984,070
Financial liabilities, Future Value			9,733,128				7,109,966
Liquidity risk | Lease liabilities | Not later than one year
Financial Instruments and Risks Management
Financial liabilities, Future Value			842,789				559,525
Liquidity risk | Lease liabilities | Later than one year and not later than two years
Financial Instruments and Risks Management
Financial liabilities, Future Value			1,566,704				1,426,011
Liquidity risk | Lease liabilities | Later than two years and not later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			2,064,169				1,186,386
Liquidity risk | Lease liabilities | Later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			5,259,466				3,938,044
Liquidity risk | Liabilities for asset acquisition and subsidiaries
Financial Instruments and Risks Management
Financial Liabilities, Book Value			658,135				541,615
Financial liabilities, Future Value			744,790				618,910
Liquidity risk | Liabilities for asset acquisition and subsidiaries | Not later than one year
Financial Instruments and Risks Management
Financial liabilities, Future Value			134,005				103,132
Liquidity risk | Liabilities for asset acquisition and subsidiaries | Later than one year and not later than two years
Financial Instruments and Risks Management
Financial liabilities, Future Value			129,699				101,149
Liquidity risk | Liabilities for asset acquisition and subsidiaries | Later than two years and not later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			365,836				315,989
Liquidity risk | Liabilities for asset acquisition and subsidiaries | Later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			115,250				98,640
Liquidity risk | Derivative financial instruments
Financial Instruments and Risks Management
Financial Liabilities, Book Value			11,898,332				2,917,913
Financial liabilities, Future Value			18,155,523				8,299,319
Liquidity risk | Derivative financial instruments | Not later than one year
Financial Instruments and Risks Management
Financial liabilities, Future Value			4,556,320				1,488,906
Liquidity risk | Derivative financial instruments | Later than one year and not later than two years
Financial Instruments and Risks Management
Financial liabilities, Future Value			1,415,206				415,791
Liquidity risk | Derivative financial instruments | Later than two years and not later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			4,726,006				1,258,200
Liquidity risk | Derivative financial instruments | Later than five years
Financial Instruments and Risks Management
Financial liabilities, Future Value			7,457,991				5,136,422
Liquidity risk | Other liabilities
Financial Instruments and Risks Management
Financial Liabilities, Book Value			337,106				578,061
Financial liabilities, Future Value			337,106				578,061
Liquidity risk | Other liabilities | Not later than one year
Financial Instruments and Risks Management
Financial liabilities, Future Value			252,972				456,338
Liquidity risk | Other liabilities | Later than one year and not later than two years
Financial Instruments and Risks Management
Financial liabilities, Future Value			R$ 84,134				R$ 121,723

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Exchange Rate Risk Management (Details) - Currency Risk - USD - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Net exposure of assets and liabilities in foreign currency
Financial assets	R$ 13,029,199	R$ 13,994,993
Financial liabilities	(75,196,278)	(58,149,396)
Net liability exposure	(62,167,079)	(44,154,403)
Trade accounts payable
Net exposure of assets and liabilities in foreign currency
Financial liabilities	(491,805)	(1,085,207)
Loans and financing
Net exposure of assets and liabilities in foreign currency
Financial liabilities	(63,817,265)	(45,460,138)
Liabilities for asset acquisition and subsidiaries
Net exposure of assets and liabilities in foreign currency
Financial liabilities	(401,273)	(288,172)
Derivative financial instruments
Net exposure of assets and liabilities in foreign currency
Financial liabilities	(10,485,935)	(11,315,879)
Cash and cash equivalents
Net exposure of assets and liabilities in foreign currency
Financial assets	9,895,463	2,527,834
Trade accounts receivable
Net exposure of assets and liabilities in foreign currency
Financial assets	2,891,501	2,027,018
Derivative financial instruments
Net exposure of assets and liabilities in foreign currency
Financial assets	R$ 242,235	R$ 9,440,141

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Exchange Risk Sensitivity Analysis (Details)	6 Months Ended
	Jun. 30, 2020 BRL (R$)	Dec. 31, 2019
Probable
Financial Instruments and Risks Management
Closing foreign exchange rate	5.4416
Possible (25%)
Financial Instruments and Risks Management
Closing foreign exchange rate	6.802
Remote (50%)
Financial Instruments and Risks Management
Closing foreign exchange rate	8.1624
Possible (-25%)
Financial Instruments and Risks Management
Closing foreign exchange rate	4.0812
Remote (-50%)
Financial Instruments and Risks Management
Closing foreign exchange rate	2.7208
Currency Risk
Financial Instruments and Risks Management
Closing foreign exchange rate	5.4760
Currency Risk | Cash and cash equivalents | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	R$ 9,895,463,000
Currency Risk | Cash and cash equivalents | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	2,473,866,000
Currency Risk | Cash and cash equivalents | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	4,947,732,000
Currency Risk | Trade accounts receivable | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	2,891,501,000
Currency Risk | Trade accounts receivable | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	722,875,000
Currency Risk | Trade accounts receivable | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	1,445,751,000
Currency Risk | Trade accounts payable | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(491,805,000)
Currency Risk | Trade accounts payable | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(122,951,000)
Currency Risk | Trade accounts payable | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(245,903,000)
Currency Risk | Loans and financing | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(63,817,265,000)
Currency Risk | Loans and financing | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(15,954,316,000)
Currency Risk | Loans and financing | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(31,908,633,000)
Currency Risk | Liabilities for asset acquisition and subsidiaries | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(401,273,000)
Currency Risk | Liabilities for asset acquisition and subsidiaries | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(100,318,000)
Currency Risk | Liabilities for asset acquisition and subsidiaries | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(200,637,000)
Currency Risk | Derivative Options | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	(2,955,980,000)
Currency Risk | Derivative Options | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	(4,195,471,000)
Currency Risk | Derivative Options | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	(8,658,160,000)
Currency Risk | Derivative Options | Possible (-25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to a decrease in measurement input	3,740,215,000
Currency Risk | Derivative Options | Remote (-50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to a decrease in measurement input	7,973,398,000
Currency Risk | Derivatives Non Deliverable Forward ("NDF") | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	(29,511,000)
Currency Risk | Derivatives Non Deliverable Forward ("NDF") | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	(33,907,000)
Currency Risk | Derivatives Non Deliverable Forward ("NDF") | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	(67,814,000)
Currency Risk | Derivatives Non Deliverable Forward ("NDF") | Possible (-25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to a decrease in measurement input	33,908,000
Currency Risk | Derivatives Non Deliverable Forward ("NDF") | Remote (-50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to a decrease in measurement input	R$ 67,815,000
Currency Risk | Mark to Market Derivatives
Financial Instruments and Risks Management
Closing foreign exchange rate	5.4416	4.0307
Percentage increase in foreign exchange rate	35.00%
Maximum percentage exposure in U.S. Dollars	75.00%
Currency Risk | Derivative Swap | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	R$ (8,526,926,000)
Currency Risk | Derivative Swap | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	(5,279,964,000)
Currency Risk | Derivative Swap | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to an increase in measurement input	(10,559,931,000)
Currency Risk | Derivative Swap | Possible (-25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to a decrease in measurement input	5,279,972,000
Currency Risk | Derivative Swap | Remote (-50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial instruments attributable to a decrease in measurement input	R$ 10,559,940,000

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Interest Rate Risk Sensitivity Analysis (Details) R$ in Thousands	6 Months Ended
	Jun. 30, 2020 BRL (R$)
Derivative Options | CDI | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	R$ (2,955,980)
Derivative Options | CDI | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(46,186)
Derivative Options | CDI | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(91,962)
Derivative Options | CDI | Possible (-25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an decrease in measurement input	46,622
Derivative Options | CDI | Remote (-50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an decrease in measurement input	93,698
Derivatives Non Deliverable Forward ("NDF") | CDI | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(29,511)
Derivatives Non Deliverable Forward ("NDF") | CDI | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(97)
Derivatives Non Deliverable Forward ("NDF") | CDI | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(195)
Derivatives Non Deliverable Forward ("NDF") | CDI | Possible (-25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an decrease in measurement input	99
Derivatives Non Deliverable Forward ("NDF") | CDI | Remote (-50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an decrease in measurement input	198
Derivative Swap | CDI | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(8,526,926)
Derivative Swap | CDI | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(27,243)
Derivative Swap | CDI | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(53,863)
Derivative Swap | CDI | Possible (-25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an decrease in measurement input	27,830
Derivative Swap | CDI | Remote (-50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an decrease in measurement input	56,172
Derivative Swap | LIBOR | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	(8,526,926)
Derivative Swap | LIBOR | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	50,308
Derivative Swap | LIBOR | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	100,602
Derivative Swap | LIBOR | Possible (-25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an decrease in measurement input	(50,308)
Derivative Swap | LIBOR | Remote (-50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an decrease in measurement input	(100,630)
Interest rate risk | Cash and cash equivalents | CDI | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	358,900
Interest rate risk | Cash and cash equivalents | CDI | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	1,929
Interest rate risk | Cash and cash equivalents | CDI | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	3,858
Interest rate risk | Marketable securities | CDI | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	2,213,496
Interest rate risk | Marketable securities | CDI | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	11,898
Interest rate risk | Marketable securities | CDI | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial assets attributable to an increase in measurement input	23,795
Interest rate risk | Loans and financing | CDI | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	9,919,194
Interest rate risk | Loans and financing | CDI | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	53,316
Interest rate risk | Loans and financing | CDI | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	106,631
Interest rate risk | Loans and financing | TJLP | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	1,700,469
Interest rate risk | Loans and financing | TJLP | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	21,001
Interest rate risk | Loans and financing | TJLP | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	42,002
Interest rate risk | Loans and financing | LIBOR | Probable
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	25,131,914
Interest rate risk | Loans and financing | LIBOR | Possible (25%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	18,975
Interest rate risk | Loans and financing | LIBOR | Remote (50%)
Financial Instruments and Risks Management
Effect on profit or loss and equity due to changes in fair value of financial liabilities attributable to an increase in measurement input	R$ 37,949

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Price Risk Sensitivity Analysis (Details) - Commodity price risk - BRL (R$)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Embedded Derivative | Probable
Financial Instruments and Risks Management
Effect on fair value of assets attributable to an increase in measurement input.	R$ 522,073,000
Embedded Derivative | Possible (25%)
Financial Instruments and Risks Management
Effect on fair value of assets attributable to an increase in measurement input.	(117,134,000)
Embedded Derivative | Remote (50%)
Financial Instruments and Risks Management
Effect on fair value of assets attributable to an increase in measurement input.	(238,426,000)
Oil derivative | Probable
Financial Instruments and Risks Management
Effect on fair value of assets attributable to an increase in measurement input.	(76,702,000)
Oil derivative | Possible (25%)
Financial Instruments and Risks Management
Effect on fair value of assets attributable to an increase in measurement input.	168,646,000
Oil derivative | Remote (50%)
Financial Instruments and Risks Management
Effect on fair value of assets attributable to an increase in measurement input.	260,591,000
Oil derivative | Bunker oil
Financial Instruments and Risks Management
Risk exposure	R$ 87,486,000	R$ 364

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Derivatives outstanding by type of contract (Details) R$ in Thousands, $ in Thousands	Jun. 30, 2020 USD ($)	Jun. 30, 2020 BRL (R$)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 BRL (R$)
Financial Instruments and Risks
Fair value		R$ (10,819,895)		R$ (1,818,941)
Operational Hedge
Financial Instruments and Risks
Fair value		(2,979,804)		67,078
Operational Hedge | Zero cost collar (U.S.$ x R$)
Financial Instruments and Risks
Notional Amount | $	$ 3,365,500		$ 3,425,000
Fair value		(2,948,115)		67,078
Operational Hedge | NDF (R$ x US$)
Financial Instruments and Risks
Notional Amount | $	25,000
Fair value		(29,511)
Operational Hedge | NDF (US$ x ARS)
Financial Instruments and Risks
Notional Amount | $	5,500
Fair value		(2,178)
Debt hedge
Financial Instruments and Risks
Fair value		(8,285,547)		(2,154,474)
Debt hedge | Interest hedge | Swap LIBOR x Fixed (U.S.$)
Financial Instruments and Risks
Notional Amount | $	3,683,333		2,750,000
Fair value		(1,273,250)		(444,910)
Debt hedge | Interest hedge | Swap IPCA x CDI
Financial Instruments and Risks
Notional Amount | $	843,845		843,845
Fair value		251,599		233,255
Debt hedge | Interest hedge | Swap IPCA x U.S.$
Financial Instruments and Risks
Notional Amount | $	121,003		121,003
Fair value		(172,557)		30,544
Debt hedge | Interest hedge | Swap CDI x Fixed (U.S.$)
Financial Instruments and Risks
Notional Amount | $	2,676,617		3,115,614
Fair value		(6,454,249)		(1,940,352)
Debt hedge | Interest hedge | Pre-fixed Swap to U.S.$ (U.S.$)
Financial Instruments and Risks
Notional Amount | $	350,000		350,000
Fair value		(637,090)		(33,011)
Commodity hedge
Financial Instruments and Risks
Fair value		445,456		268,455
Commodity hedge | Swap US-CPI (standing wood)
Financial Instruments and Risks
Notional Amount | $	657,207		679,485
Fair value		522,073		268,547
Commodity hedge | Swap Bunker (oil)
Financial Instruments and Risks
Notional Amount | $	$ 87,486		$ 365
Fair value		R$ (76,617)		R$ (92)

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Derivatives outstanding by type of contract, classified (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT
Current assets	R$ 152,978	R$ 260,273
Non-current assets	925,459	838,699
Current liabilities	(4,529,091)	(893,413)
Non-current liabilities	(7,369,241)	(2,024,500)
Total, net	R$ (10,819,895)	R$ (1,818,941)

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Derivative Fair value by maturity schedule (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial Instruments and Risks
Derivative fair value asset (liability), net	R$ (10,819,895)	R$ (1,818,941)
Not later than one year
Financial Instruments and Risks
Derivative fair value asset (liability), net	(2,715,171)
Later than one year and not later than two years
Financial Instruments and Risks
Derivative fair value asset (liability), net	(2,184,320)	(633,644)
Later than two years and not later than three years
Financial Instruments and Risks
Derivative fair value asset (liability), net	(1,148,302)	98,850
Later than three years and not later than four years
Financial Instruments and Risks
Derivative fair value asset (liability), net	(563,163)	(154,734)
Later than four years and not later than five years
Financial Instruments and Risks
Derivative fair value asset (liability), net	(801,662)	185,209
Later than five years and not later than six years
Financial Instruments and Risks
Derivative fair value asset (liability), net	(1,845,634)	(197,718)
Later than six years and not later than seven years
Financial Instruments and Risks
Derivative fair value asset (liability), net		(606,827)
later than six years
Financial Instruments and Risks
Derivative fair value asset (liability), net	R$ (1,561,643)
Later than seven years
Financial Instruments and Risks
Derivative fair value asset (liability), net		R$ (510,077)

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Outstanding of assets and liabilities derivatives positions (Details) R$ in Thousands, $ in Thousands	Jun. 30, 2020 USD ($)	Jun. 30, 2020 BRL (R$)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 BRL (R$)
Financial Instruments and Risks
Fair value		R$ (10,819,895)		R$ (1,818,941)
Debt hedge
Financial Instruments and Risks
Fair value		(8,285,547)		(2,154,474)
Operational Hedge
Financial Instruments and Risks
Fair value		(2,979,804)		67,078
Operational Hedge | Zero cost collar (U.S.$ x R$)
Financial Instruments and Risks
Notional amount | $	$ 3,365,500		$ 3,425,000
Fair value		(2,948,115)		67,078
Operational Hedge | NDF (R$ x US$)
Financial Instruments and Risks
Notional amount | $	25,000
Fair value		(29,511)
Operational Hedge | NDF (US$ x ARS)
Financial Instruments and Risks
Notional amount | $	5,500
Fair value		(2,178)
Commodity hedge
Financial Instruments and Risks
Fair value		445,456		268,455
Commodity hedge | Swap US-CPI (standing wood)
Financial Instruments and Risks
Notional amount | $	657,207		679,485
Fair value		522,073		268,547
Commodity hedge | Swap Bunker (oil)
Financial Instruments and Risks
Notional amount | $	87,486		365
Fair value		(76,617)		(92)
Assets | Debt hedge
Financial Instruments and Risks
Fair value		436,940		25,887,797
Assets | Debt hedge | Swap CDI x Fixed (U.S.$)
Financial Instruments and Risks
Notional amount		9,963,450		11,498,565
Fair value		511		11,673,117
Assets | Debt hedge | Swap Pre-Fixed to U.S.$ (U.S.$)
Financial Instruments and Risks
Notional amount | $	1,317,226		1,317,226
Fair value		122,341		1,478,336
Assets | Debt hedge | Swap LIBOR x Fixed (U.S.$)
Financial Instruments and Risks
Notional amount | $	3,683,333		2,750,000
Fair value		62,489		11,063,970
Assets | Debt hedge | Swap IPCA x CDI
Financial Instruments and Risks
Notional amount | $	943,055		933,842
Fair value		251,599		1,093,067
Assets | Debt hedge | Swap IPCA x U.S.$
Financial Instruments and Risks
Notional amount | $	504,368		499,441
Fair value				579,307
Liabilities | Swap IPCA x CDI
Financial Instruments and Risks
Notional amount | $	843,845		843,845
Fair value				(859,812)
Liabilities | Debt hedge
Financial Instruments and Risks
Fair value		(8,722,487)		(28,042,271)
Liabilities | Debt hedge | Swap CDI x Fixed (U.S.$)
Financial Instruments and Risks
Notional amount | $	2,676,617		3,115,614
Fair value		(6,454,760)		(13,613,469)
Liabilities | Debt hedge | Swap LIBOR x Fixed (U.S.$)
Financial Instruments and Risks
Notional amount | $	350,000		350,000
Fair value		(759,431)		(1,511,347)
Liabilities | Debt hedge | Swap LIBOR x Fixed (U.S.$)
Financial Instruments and Risks
Notional amount | $	3,683,333		2,750,000
Fair value		(1,335,739)		(11,508,880)
Liabilities | Debt hedge | Swap IPCA x U.S.$
Financial Instruments and Risks
Notional amount | $	$ 121,003		$ 121,003
Fair value		R$ (172,557)		R$ (548,763)

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Fair value settled amounts (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Financial Instruments and Risks
Cash (paid) received	R$ (1,834,250)	R$ (135,449)
Operational Hedge
Financial Instruments and Risks
Cash (paid) received	(993,295)	(40,469)
Operational Hedge | Zero cost collar (U.S.$ x R$)
Financial Instruments and Risks
Cash (paid) received	(962,595)	(104,040)
Operational Hedge | NDF (R$ x US$)
Financial Instruments and Risks
Cash (paid) received	(30,700)	63,571
Commodity hedge
Financial Instruments and Risks
Cash (paid) received	(36,805)	3,804
Commodity hedge | Swap Bunker (oil)
Financial Instruments and Risks
Cash (paid) received	(36,805)	3,804
Debt hedge
Financial Instruments and Risks
Cash (paid) received	(804,150)	(98,784)
Debt hedge | Swap CDI x Fixed (U.S.$)
Financial Instruments and Risks
Cash (paid) received	(369,601)	(68,362)
Debt hedge | Swap IPCA x CDI
Financial Instruments and Risks
Cash (paid) received	(441,056)	23,024
Debt hedge | Swap IPCA x U.S.$
Financial Instruments and Risks
Cash (paid) received	10,054
Debt hedge | Swap Pre-Fixed to U.S.$ (U.S.$)
Financial Instruments and Risks
Cash (paid) received	59,351	(26,358)
Debt hedge | Swap LIBOR x Fixed (U.S.$)
Financial Instruments and Risks
Cash (paid) received	R$ (62,898)	R$ (27,088)

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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT - Fair value hierarchy (Details) - Fair value - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial Instruments and Risks
Financial assets	R$ 13,990,633	R$ 18,020,853
Financial liabilities	11,898,332	2,917,913
Level 1
Financial Instruments and Risks
Financial assets	825,972	1,631,319
Level 2
Financial Instruments and Risks
Financial assets	2,465,961	5,797,987
Financial liabilities	11,898,332	2,917,913
Level 3
Financial Instruments and Risks
Financial assets	10,698,700	10,591,547
Fair value through profit or loss
Financial Instruments and Risks
Financial liabilities	11,898,332	2,917,913
Fair value through profit or loss | Derivative financial instruments
Financial Instruments and Risks
Financial liabilities	11,898,332	2,917,913
Fair value through profit or loss | Level 2
Financial Instruments and Risks
Financial liabilities	11,898,332	2,917,913
Fair value through profit or loss | Level 2 | Derivative financial instruments
Financial Instruments and Risks
Financial liabilities	11,898,332	2,917,913
Fair value through profit or loss
Financial Instruments and Risks
Financial assets	3,291,933	7,429,306
Fair value through profit or loss | Marketable securities
Financial Instruments and Risks
Financial assets	2,213,496	6,330,334
Fair value through profit or loss | Derivative financial instruments
Financial Instruments and Risks
Financial assets	1,078,437	1,098,972
Fair value through profit or loss | Level 1
Financial Instruments and Risks
Financial assets	825,972	1,631,319
Fair value through profit or loss | Level 1 | Marketable securities
Financial Instruments and Risks
Financial assets	825,972	1,631,319
Fair value through profit or loss | Level 2
Financial Instruments and Risks
Financial assets	2,465,961	5,797,987
Fair value through profit or loss | Level 2 | Marketable securities
Financial Instruments and Risks
Financial assets	1,387,524	4,699,015
Fair value through profit or loss | Level 2 | Derivative financial instruments
Financial Instruments and Risks
Financial assets	1,078,437	1,098,972
Fair value through other comprehensive income
Financial Instruments and Risks
Financial assets	25,976	20,048
Fair value through other comprehensive income | Other investments
Financial Instruments and Risks
Financial assets	25,976	20,048
Fair value through other comprehensive income | Level 3
Financial Instruments and Risks
Financial assets	25,976	20,048
Fair value through other comprehensive income | Level 3 | Other investments
Financial Instruments and Risks
Financial assets	25,976	20,048
Amortized cost
Financial Instruments and Risks
Financial assets	10,672,724	10,571,499
Amortized cost | Fair value of biological assets
Financial Instruments and Risks
Financial assets	10,672,724	10,571,499
Amortized cost | Level 3
Financial Instruments and Risks
Financial assets	10,672,724	10,571,499
Amortized cost | Level 3 | Fair value of biological assets
Financial Instruments and Risks
Financial assets	R$ 10,672,724	R$ 10,571,499

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CASH AND CASH EQUIVALENTS (Details) - BRL (R$) R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Cash and cash equivalents
Cash and banks	R$ 6,070,196	R$ 2,464,097
Cash equivalents
Total cash and cash equivalents	R$ 10,473,701	3,249,127	R$ 4,104,641	R$ 4,387,453
Fixed | Cash and banks
Cash equivalents
Average yield	0.40%
Domestic
Cash equivalents
Fixed-term deposits	R$ 358,900	630,075
Domestic | CDI | Fixed-term deposits
Cash equivalents
Percentage of basis used to calculate interest rate	75.34%
Foreign
Cash equivalents
Fixed-term deposits	R$ 4,044,605	R$ 154,955
Foreign | Fixed | Fixed-term deposits
Cash equivalents
Average yield	0.76%

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MARKETABLE SECURITIES (Details) - BRL (R$) R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Financial Investments
Marketable securities	R$ 2,213,496	R$ 6,330,334
Current	2,030,560	6,150,631
Non Current	182,936	179,703
Investment funds
Financial Investments
Marketable securities	R$ 6,587	6,683
Investment funds | CDI
Financial Investments
Percentage of basis used to calculate interest rate	25.61%
Private Funds
Financial Investments
Marketable securities	R$ 12,668	1,431,303
Private Funds | CDI
Financial Investments
Percentage of basis used to calculate interest rate	93.31%
Public Titles Measured At Fair Value Through Profit or Loss
Financial Investments
Marketable securities	R$ 825,972	1,631,319
Public Titles Measured At Fair Value Through Profit or Loss | CDI
Financial Investments
Percentage of basis used to calculate interest rate	93.31%
Private Securities (Compromised)
Financial Investments
Marketable securities	R$ 1,185,333	3,081,326
Private Securities (Compromised) | CDI
Financial Investments
Percentage of basis used to calculate interest rate	100.00%
Private Securities (Compromised) - Escrow Account
Financial Investments
Marketable securities	R$ 182,936	R$ 179,703
Private Securities (Compromised) - Escrow Account | CDI
Financial Investments
Percentage of basis used to calculate interest rate	102.00%

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TRADE ACCOUNTS RECEIVABLE - Summary of balances (Details) - Trade accounts receivable - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
TRADE ACCOUNTS RECEIVABLE
Financial assets	R$ 3,762,875	R$ 3,035,817
Factoring of receivables
TRADE ACCOUNTS RECEIVABLE
Financial assets	4,968,024	3,544,625
Gross | Domestic | Third parties
TRADE ACCOUNTS RECEIVABLE
Financial assets	888,372	1,027,034
Gross | Domestic | Related parties
TRADE ACCOUNTS RECEIVABLE
Financial assets	35,394	23,761
Gross | Foreign | Third parties
TRADE ACCOUNTS RECEIVABLE
Financial assets	2,891,501	2,027,018
Expected credit losses
TRADE ACCOUNTS RECEIVABLE
Financial assets	R$ 52,392	R$ 41,996

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TRADE ACCOUNTS RECEIVABLE - Trade accounts receivable by maturity (Details) - Trade accounts receivable - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
TRADE ACCOUNTS RECEIVABLE
Financial assets	R$ 3,762,875	R$ 3,035,817
Neither past due nor impaired | Current
TRADE ACCOUNTS RECEIVABLE
Financial assets	3,236,279	2,552,459
Past due but not impaired | Up to 30 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	324,675	180,909
Past due but not impaired | From 31 to 60 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	72,830	148,388
Past due but not impaired | From 61 to 90 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	23,836	20,448
Past due but not impaired | From 91 to 120 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	15,518	20,680
Past due but not impaired | From 121 to 180 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	10,844	17,899
Past due but not impaired | More than 180 days
TRADE ACCOUNTS RECEIVABLE
Financial assets	R$ 78,893	R$ 95,034

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TRADE ACCOUNTS RECEIVABLE - Changes in expected credit losses (Details) - Trade accounts receivable - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Changes in allowance for doubtful accounts
Beginning balance	R$ (41,996)	R$ (37,179)
Business combination		(5,947)
Addition	(10,250)	(18,650)
Reversal	187	6,364
Write-off	2,117	13,383
Exchange rate variation	(2,450)	33
Ending balance	R$ (52,392)	R$ (41,996)

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TRADE ACCOUNTS RECEIVABLE - Main customers (Details) - Net Sales - Pulp - customer	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
TRADE ACCOUNTS RECEIVABLE
Number of customers	1	1
Concentration risk percentage	9.60%	10.00%

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INVENTORIES - Summary of balances (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventories
Work in process	R$ 98,037	R$ 75,377
Raw materials	1,300,430	1,047,433
Spare Parts and other	477,772	488,410
Inventories	4,206,778	4,685,595
Pulp | Domestic
Inventories
Finished goods	430,958	575,335
Pulp | Foreign
Inventories
Finished goods	1,407,928	2,229,206
Paper | Domestic
Inventories
Finished goods	372,952	199,635
Paper | Foreign
Inventories
Finished goods	R$ 118,701	R$ 70,199

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INVENTORIES - Changes in provision for losses (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Changes in provision for losses
Balance at the beginning of the period	R$ (106,713)	R$ (33,195)
Business combination		(11,117)
Addition	(33,653)	(111,077)
Reversal	1,033	9,734
Write-off	71,351	38,942
Balance at the end of the period	(67,982)	(106,713)
Raw materials, estimated losses	27,326	57,384
Finished product, write-off of inventory	31,088	666
Raw materials, write-off of inventory	32,600	26,083
Inventories pledged as security for liabilities	R$ 0	R$ 0

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RECOVERABLE TAXES (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
RECOVERABLE TAXES
IRPJ/CSLL - prepayments and withheld taxes	R$ 562,835	R$ 575,351
PIS and COFINS - on acquisition of property, plant and equipment	133,182	61,376
PIS and COFINS - operations	303,636	507,919
PIS/COFINS - exclusion ICMS	128,115	128,115
ICMS - on acquisition of property, plant and equipment	109,045	115,560
ICMS - operations	1,500,659	1,515,840
Reintegra Program	119,580	108,657
Other taxes and contributions	22,680	18,758
Provision for loss of ICMS credits	(1,279,208)	(1,304,329)	R$ (10,792)
Provision for loss of PIS/COFINS credits	0	(21,132)	R$ 0
Recoverable taxes	1,600,524	1,706,115
Current assets	888,245	997,201
Non-current assets	R$ 712,279	R$ 708,914

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RECOVERABLE TAXES - Rollforward of provision for loss (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
ICMS
Beginning balance	R$ (1,304,329)	R$ (10,792)
Business combination with Fibria		(1,211,109)
Addition	(48,151)	(82,428)
Write-off	(73,272)
Ending balance	(1,279,208)	(1,304,329)
PIS and COFINS
Beginning balance	(21,132)	0
Addition		(21,132)
Write-off	21,132
Ending balance	0	(21,132)
Total
Beginning balance	(1,325,461)	(10,792)
Business combination with Fibria		(1,211,109)
Addition	(48,151)	(103,560)
Write-off	94,404
Ending balance	R$ (1,279,208)	R$ (1,325,461)

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ADVANCE TO SUPPLIERS (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Advances to suppliers
Advances to suppliers	R$ 1,256,468	R$ 1,257,630
Current	106,636	170,481
Non current	1,149,832	1,087,149
Forestry Development Program
Advances to suppliers
Advances to suppliers	1,149,832	1,087,149
Advance to suppliers
Advances to suppliers
Advances to suppliers	R$ 106,636	R$ 170,481

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RELATED PARTIES - Balances recognized in assets and liabilities (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
RELATED PARTIES
Balances receivable (payable)	R$ 33,946	R$ 21,283
Trade accounts receivable
RELATED PARTIES
Balances receivable (payable)	35,394	23,761
Trade accounts payable
RELATED PARTIES
Balances receivable (payable)	(1,448)	(2,478)
Controlling Shareholders
RELATED PARTIES
Balances receivable (payable)	5	3
Suzano Holding S.A.
RELATED PARTIES
Balances receivable (payable)	5	3
Transactions with companies of the Suzano Group and other related parties
RELATED PARTIES
Balances receivable (payable)	33,941	21,280
Bexma Participacoes Ltda. | Reimbursement for expenses
RELATED PARTIES
Balances receivable (payable)	2	1
Bizma Investimentos Ltda. | Social services
RELATED PARTIES
Balances receivable (payable)	1	1
Ensyn Technologies | Reimbursement for expenses
RELATED PARTIES
Balances receivable (payable)	2,004
Instituto Ecofuturo - Futuro Para o Desenvolvimento Sustentavel | Social services
RELATED PARTIES
Balances receivable (payable)		(9)
Ibema Companhia Brasileira de Papel | Sale of pulp
RELATED PARTIES
Balances receivable (payable)	33,382	23,755
Ibema Companhia Brasileira de Papel | Purchase of products
RELATED PARTIES
Balances receivable (payable)	R$ (1,448)	(2,467)
Management | Reimbursement for expenses
RELATED PARTIES
Balances receivable (payable)		R$ (1)

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RELATED PARTIES - Amounts transacted in the period (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
RELATED PARTIES
Expenses (income)	R$ 40,787	R$ 56,625
Controlling Shareholders
RELATED PARTIES
Expenses (income)	(2,459)	(3,285)
Suzano Holding S.A.
RELATED PARTIES
Expenses (income)	(2,459)	(3,285)
Transactions with companies of the Suzano Group and other related parties
RELATED PARTIES
Expenses (income)	43,246	59,910
Management | Reimbursement for expenses
RELATED PARTIES
Expenses (income)	(831)	(595)
Bexma Participacoes Ltda. | Reimbursement for expenses
RELATED PARTIES
Expenses (income)	7	3
Bizma Investimentos Ltda. | Reimbursement for expenses
RELATED PARTIES
Expenses (income)	7	6
Fundacao Arymax | Reimbursement for expenses
RELATED PARTIES
Expenses (income)	1
Ibema Companhia Brasileira de Papel | Purchase of products
RELATED PARTIES
Expenses (income)	(2,241)	(3,415)
Ibema Companhia Brasileira de Papel | Sale of paper
RELATED PARTIES
Expenses (income)	48,829	66,769
Instituto Ecofuturo - Futuro Para o Desenvolvimento Sustentavel | Social services
RELATED PARTIES
Expenses (income)	(2,379)	(2,538)
IPFL Holding S.A | Reimbursement for expenses
RELATED PARTIES
Expenses (income)	2	1
Lazam MDS Corretora e Adm. Seguros S.A. | Sale of paper
RELATED PARTIES
Expenses (income)		4
Mabex Representacoes e Participacoes Ltda. | Aircraft services (freight)
RELATED PARTIES
Expenses (income)	(50)	(100)
Nemonorte Imoveis e Participacoes Ltda. | Real estate advisory
RELATED PARTIES
Expenses (income)	R$ (99)	R$ (225)

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RELATED PARTIES - Management compensation (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Short-term benefits
Salary or compensation	R$ 22,866	R$ 19,010
Direct and indirect benefits	450	787
Bonus	3,250	5,781
Total short term benefits	26,566	25,578
Long-term benefits
Share-based compensation plan	45,529	45,051
Total long term benefits	45,529	45,051
Total management compensation	R$ 72,095	R$ 70,629

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INCOME AND SOCIAL CONTRIBUTION TAXES - Deferred income and social contribution taxes (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deferred income and social contribution taxes
Non-current assets	R$ 14,660,535	R$ 5,576,253
Non-current liabilities	4,281,243	4,021,088
Total non-current assets, net	10,454,646	2,134,040
Total non-current liabilities, net	75,354	578,875
Tax loss carryforwards
Deferred income and social contribution taxes
Non-current assets	772,460	600,249
Negative tax base
Deferred income and social contribution taxes
Non-current assets	226,230	146,346
Provision for judicial liabilities
Deferred income and social contribution taxes
Non-current assets	255,947	265,571
Operating provisions and other losses
Deferred income and social contribution taxes
Non-current assets	908,399	914,696
Exchange rate variation
Deferred income and social contribution taxes
Non-current assets	7,418,386	2,001,942
Losses on derivatives
Deferred income and social contribution taxes
Non-current assets	3,678,024	618,427
Fair value adjustment on business combination - Amortization
Deferred income and social contribution taxes
Non-current assets	713,180	713,656
Unrealized profit on inventories
Deferred income and social contribution taxes
Non-current assets	357,240	293,322
Lease liabilities
Deferred income and social contribution taxes
Non-current assets	330,669	22,044
Goodwill - Tax benefit on unamortized goodwill
Deferred income and social contribution taxes
Non-current liabilities	351,107	216,857
Property, plant and equipment - deemed cost adjustment
Deferred income and social contribution taxes
Non-current liabilities	1,487,102	1,506,220
Accelerated tax depreciation
Deferred income and social contribution taxes
Non-current liabilities	1,068,735	1,113,200
Borrowing cost
Deferred income and social contribution taxes
Non-current liabilities	118,071	104,549
Fair value of biological assets
Deferred income and social contribution taxes
Non-current liabilities	123,668	53,502
Tax provision on results of subsidiaries abroad
Deferred income and social contribution taxes
Non-current liabilities	585,516	463,850
Fair value adjustment on business combination with Fibria - Deferred taxes, net
Deferred income and social contribution taxes
Non-current liabilities	485,994	502,347
Tax credits - gains in tax lawsuit (ICMS from the PIS/COFINS calculation basis)
Deferred income and social contribution taxes
Non-current liabilities	43,559	43,559
Other temporary differences
Deferred income and social contribution taxes
Non-current liabilities	R$ 17,491	R$ 17,004

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INCOME AND SOCIAL CONTRIBUTION TAXES - Carryforwards (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
INCOME AND SOCIAL CONTRIBUTION TAXES
Tax loss carryforward	R$ 3,089,840	R$ 2,400,998
Social contribution tax loss carryforward	R$ 2,513,672	R$ 1,626,064

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INCOME AND SOCIAL CONTRIBUTION TAXES - Rollforward (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Rollforward of net balance of deferred income tax
Beginning balance	R$ 1,555,165	R$ (1,029,135)
Business combination with Fibria		1,034,842
Tax loss	172,211	270,559
Tax loss carryforwards	79,884	139,719
(Reversal)/provision for judicial liabilities	(9,624)	31,262
Operating provisions and other losses	(6,297)	(21,757)
Exchange rate variation	5,416,444	552,421
Derivative losses	3,059,597	319,860
Fair value adjustment on business combination - Amortization	15,879	699,527
Unrealized profit on inventories	63,918	65,492
Lease	308,625	(3,274)
Tax benefit on unamortized goodwill	(134,250)	(203,696)
Property, plant and equipment - Deemed cost	19,118	46,359
Accelerated depreciation	44,465	82,982
Borrowing cost	(13,522)	44,727
Fair value of biological assets	(70,166)	(60,778)
Tax provision on results of subsidiaries abroad	(121,666)	(351,485)
Tax credits - gains in tax lawsuit (ICMS from the PIS/COFINS calculation basis)		(43,559)
Other temporary differences	(489)	(18,901)
Ending balance	R$ 10,379,292	R$ 1,555,165

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INCOME AND SOCIAL CONTRIBUTION TAXES - Reconciliation of effects of income tax and social contribution on profit or loss (Details) - BRL (R$) R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Reconciliation of the effects of income tax and social contribution on profit or loss
Loss before taxes	R$ (24,236,648)	R$ (789,205)
Income tax and social contribution benefit (expense) at statutory nominal rate of 34%	R$ 8,240,460	R$ 268,330
Tax rate	34.00%	34.00%
Tax effect on permanent differences
Taxation (difference) on profit of wholly-owned subsidiaries abroad	R$ 746,640	R$ 21,301
Tax incentive - Reduction SUDENE		23,216
Equity method	(1,004)	(1,893)
Thin capitalisation	(252,808)	(50,437)
Credit related to Reintegrate Program	3,367	2,988
Tax incentives applicable to income tax	3,925	3,247
Director bonus	(5,508)	(42,682)
Donations / Fines - Other	29,997	35,851
Income and social contribution benefits (expenses) on the period	8,765,069	259,921
Income tax
Current	(57,006)	(113,570)
Deferred	6,486,044	299,726
Total income Tax	6,429,038	186,156
Social Contribution
Current	(823)	(78,008)
Deferred	2,336,854	151,773
Total Social Contribution	2,336,031	73,765
Income and social contribution benefits (expenses) on the period	R$ 8,765,069	R$ 259,921
Effective rate of income and social contribution tax expenses	36.16%	32.93%

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BIOLOGICAL ASSETS - Changes (Details) - BRL (R$) R$ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Changes in balances of biological assets
Balance, beginning of the year	R$ 10,571,499	R$ 4,935,905	R$ 4,935,905
Business combination			4,579,526
Additions	1,401,424		2,849,039
Depletion	(1,433,410)		(1,905,118)
Transfers	678
Gain on fair value adjustment	173,733	R$ 83,453	185,399
Disposal	(39,910)		(23,764)
Other write-offs	(1,290)		(49,488)
Balance, end of the year	R$ 10,672,724		R$ 10,571,499
Effective area of forest from the year of planting	3 years
Minimum
Changes in balances of biological assets
Average cycle of forest formation	6 years
Maximum
Changes in balances of biological assets
Average cycle of forest formation	7 years

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BIOLOGICAL ASSETS - Assumptions (Details)	6 Months Ended
	Jun. 30, 2020 ha R$ / m³ m / ha
Assumptions used
Planted useful area (hectare)	960,109
Average annual growth (IMA) - m3 /hectare /year | m / ha	36.16
Average gross sale price of eucalyptus - R$/m3 | R$ / m³	66.86
Discount rate - %	8.60%
Mature assets
Assumptions used
Planted useful area (hectare)	107,861
Immature assets
Assumptions used
Planted useful area (hectare)	852,248

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BIOLOGICAL ASSETS - Fair value adjustment (Details) - BRL (R$) R$ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Fair value adjustment of biological assets recognized under other operating income (expense), net
Physical changes	R$ 384,574
Price	(210,841)
Fair value adjustment of biological assets recognized under other operating income (expense), net	173,733	R$ 83,453	R$ 185,399
Biological assets pledged	R$ 0

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INVESTMENTS - Summary of Investments (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
INVESTMENTS
Investments in associates and joint ventures	R$ 132,625	R$ 140,934
Goodwill	166,819	161,464
Other investments evaluated at fair value through other comprehensive income	25,976	20,048
Total investments accounted for using equity method	R$ 325,420	R$ 322,446

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INVESTMENTS - Investments in associates and joint ventures (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Investments
Company Participation in equity	R$ 132,625	R$ 140,934
Company Participation in the income of the period	(2,952)	5,569
Associates
Investments
Company Participation in equity	86,997	108,406
Company Participation in the income of the period	R$ (16,052)	(541)
Ensyn Corporation
Investments
Participation equity in associate (as a percent)	25.30%
Company Participation in equity	R$ 2,995	21,437
Company Participation in the income of the period	R$ (13,086)
Spinnova Oy
Investments
Participation equity in associate (as a percent)	24.06%
Company Participation in equity	R$ 84,002	86,969
Company Participation in the income of the period	(2,966)	(541)
Joint ventures
Investments
Company Participation in equity	45,628	32,528
Company Participation in the income of the period	13,100	6,110
Ibema Companhia Brasileira de Papel
Investments
Company Participation in equity	40,139	28,487
Company Participation in the income of the period	11,651	6,175
F&E Technologies LLC
Investments
Company Participation in equity	5,489	4,041
Company Participation in the income of the period	R$ 1,449	R$ (65)

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PROPERTY, PLANT AND EQUIPMENT (Details) - BRL (R$) R$ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment
Balance, beginning of year	R$ 41,120,945
Balance, end of year	40,242,196		R$ 41,120,945
Property, plant and equipment pledged as collateral	21,419,039		24,985,741
Capitalized interest amount	R$ 7,940	R$ 1,032
Average monthly rate of interest capitalization	9.21%	9.08%
Gross
Property, Plant and Equipment
Balance, beginning of year	R$ 63,512,967	R$ 25,402,513	25,402,513
Additions	559,126		2,001,674
Write-offs	(41,311)		(337,759)
Business combination			27,206,328
Transfer and other	(31,543)		(212,630)
Balance, end of year	63,999,239		63,512,967
Gross | Fibria
Property, Plant and Equipment
Fair value adjustment from business combination			9,445,315
Gross | Facepa
Property, Plant and Equipment
Fair value adjustment from business combination			2,078
Gross | Ibema Companhia Brasileira de Papel
Property, Plant and Equipment
Fair value adjustment from business combination			5,448
Accumulated Depreciation and Amortization
Property, Plant and Equipment
Balance, beginning of year	(22,392,022)	(8,382,254)	(8,382,254)
Additions	(1,380,411)		(2,470,251)
Write-offs	15,390		156,562
Transfer and other			548,038
Balance, end of year	(23,757,043)		(22,392,022)
Accumulated Depreciation and Amortization | Fibria
Property, Plant and Equipment
Business combination			(11,606,879)
Fair value adjustment from business combination			(624,327)
Accumulated Depreciation and Amortization | Facepa
Property, Plant and Equipment
Fair value adjustment from business combination			(12,318)
Accumulated Depreciation and Amortization | Ibema Companhia Brasileira de Papel
Property, Plant and Equipment
Fair value adjustment from business combination			(593)
Lands
Property, Plant and Equipment
Balance, beginning of year	10,321,574
Balance, end of year	10,338,275		10,321,574
Lands | Gross
Property, Plant and Equipment
Balance, beginning of year	10,321,574	5,104,717	5,104,717
Additions			337,932
Write-offs	(20,032)		(92,705)
Business combination			2,151,338
Transfer and other	36,733		182,621
Balance, end of year	R$ 10,338,275		10,321,574
Lands | Gross | Fibria
Property, Plant and Equipment
Fair value adjustment from business combination			2,637,671
Buildings
Property, Plant and Equipment
Average rate %	3.00%
Property, Plant and Equipment
Balance, beginning of year	R$ 5,787,873
Balance, end of year	6,041,750		5,787,873
Buildings | Gross
Property, Plant and Equipment
Balance, beginning of year	8,767,789	3,058,520	3,058,520
Additions	1,660		1,943
Write-offs	(1,427)		(36,276)
Business combination			3,918,552
Transfer and other	391,322		323,029
Balance, end of year	9,159,344		8,767,789
Buildings | Gross | Fibria
Property, Plant and Equipment
Fair value adjustment from business combination			1,502,021
Buildings | Accumulated Depreciation and Amortization
Property, Plant and Equipment
Balance, beginning of year	(2,979,916)	(906,616)	(906,616)
Additions	(138,227)		(255,888)
Write-offs	549		26,886
Transfer and other			29,906
Balance, end of year	R$ (3,117,594)		(2,979,916)
Buildings | Accumulated Depreciation and Amortization | Fibria
Property, Plant and Equipment
Business combination			(1,804,967)
Fair value adjustment from business combination			(63,495)
Buildings | Accumulated Depreciation and Amortization | Facepa
Property, Plant and Equipment
Fair value adjustment from business combination			(5,742)
Machinery and equipment and facilities
Property, Plant and Equipment
Average rate %	5.00%
Property, Plant and Equipment
Balance, beginning of year	R$ 23,670,191
Balance, end of year	22,806,761		23,670,191
Machinery and equipment and facilities | Gross
Property, Plant and Equipment
Balance, beginning of year	42,520,577	16,441,031	16,441,031
Additions	100,769		136,855
Write-offs	(14,685)		(172,458)
Business combination			20,255,811
Transfer and other	232,284		740,879
Balance, end of year	42,838,945		42,520,577
Machinery and equipment and facilities | Gross | Fibria
Property, Plant and Equipment
Fair value adjustment from business combination			5,109,939
Machinery and equipment and facilities | Gross | Facepa
Property, Plant and Equipment
Fair value adjustment from business combination			3,072
Machinery and equipment and facilities | Gross | Ibema Companhia Brasileira de Papel
Property, Plant and Equipment
Fair value adjustment from business combination			5,448
Machinery and equipment and facilities | Accumulated Depreciation and Amortization
Property, Plant and Equipment
Balance, beginning of year	(18,850,386)	(7,248,143)	(7,248,143)
Additions	(1,191,572)		(2,123,193)
Write-offs	9,774		115,732
Transfer and other			508,585
Balance, end of year	(20,032,184)		(18,850,386)
Machinery and equipment and facilities | Accumulated Depreciation and Amortization | Fibria
Property, Plant and Equipment
Business combination			(9,552,825)
Fair value adjustment from business combination			(543,468)
Machinery and equipment and facilities | Accumulated Depreciation and Amortization | Facepa
Property, Plant and Equipment
Fair value adjustment from business combination			(6,481)
Machinery and equipment and facilities | Accumulated Depreciation and Amortization | Ibema Companhia Brasileira de Papel
Property, Plant and Equipment
Fair value adjustment from business combination			(593)
Work in progress
Property, Plant and Equipment
Balance, beginning of year	969,701
Balance, end of year	661,526		969,701
Work in progress | Gross
Property, Plant and Equipment
Balance, beginning of year	969,701	466,156	466,156
Additions	452,661		1,477,420
Write-offs	(5)		(1,462)
Business combination			425,868
Transfer and other	(760,831)		(1,397,398)
Balance, end of year	661,526		969,701
Work in progress | Gross | Facepa
Property, Plant and Equipment
Fair value adjustment from business combination			(883)
Other
Property, Plant and Equipment
Balance, beginning of year	371,606
Balance, end of year	R$ 393,884		371,606
Other | Minimum
Property, Plant and Equipment
Average rate %	10.00%
Other | Maximum
Property, Plant and Equipment
Average rate %	20.00%
Other | Gross
Property, Plant and Equipment
Balance, beginning of year	R$ 933,326	332,089	332,089
Additions	4,036		47,524
Write-offs	(5,162)		(34,858)
Business combination			454,759
Transfer and other	68,949		(61,761)
Balance, end of year	1,001,149		933,326
Other | Gross | Fibria
Property, Plant and Equipment
Fair value adjustment from business combination			195,684
Other | Gross | Facepa
Property, Plant and Equipment
Fair value adjustment from business combination			(111)
Other | Accumulated Depreciation and Amortization
Property, Plant and Equipment
Balance, beginning of year	(561,720)	R$ (227,495)	(227,495)
Additions	(50,612)		(91,170)
Write-offs	5,067		13,944
Transfer and other			9,547
Balance, end of year	R$ (607,265)		(561,720)
Other | Accumulated Depreciation and Amortization | Fibria
Property, Plant and Equipment
Business combination			(249,087)
Fair value adjustment from business combination			(17,364)
Other | Accumulated Depreciation and Amortization | Facepa
Property, Plant and Equipment
Fair value adjustment from business combination			R$ (95)

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INTANGIBLE - Goodwill and intangible assets with indefinite useful life (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Goodwill and intangible assets with indefinite useful life
Goodwill and intangible assets with indefinite useful life	R$ 8,063,014	R$ 8,063,014
Vale Florestar S.A.
Goodwill and intangible assets with indefinite useful life
Goodwill and intangible assets with indefinite useful life	45,435	45,435
Facepa
Goodwill and intangible assets with indefinite useful life
Goodwill and intangible assets with indefinite useful life	119,332	119,332
Fibria
Goodwill and intangible assets with indefinite useful life
Goodwill and intangible assets with indefinite useful life	7,897,051	7,897,051
Other
Goodwill and intangible assets with indefinite useful life
Goodwill and intangible assets with indefinite useful life	R$ 1,196	R$ 1,196

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INTANGIBLE - Changes in intangible assets with determined useful life (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Intangible assets with determined useful life
Balance at the beginning of the year	R$ 9,649,789	R$ 180,311
Business combination		308,681
Additions	513	17,715
Fair value adjustment on business combination		702
Amortization	(491,593)	(74,332)
Exchange rate variation		2,930
Transfers and others	3,374	26,263
Balance at the end of the year	R$ 9,162,083	9,649,789
Non-compete agreement
Intangible assets with determined useful life
Averate rate %	5.00%
Balance at the beginning of the year	R$ 2,150
Balance at the end of the year	R$ 1,810	2,150
Research and development agreement
Intangible assets with determined useful life
Averate rate %	19.00%
Balance at the beginning of the year	R$ 74,643
Balance at the end of the year	R$ 70,457	74,643
Port concession
Intangible assets with determined useful life
Averate rate %	4.00%
Balance at the beginning of the year	R$ 219,256
Balance at the end of the year	R$ 214,431	219,256
Lease agreements
Intangible assets with determined useful life
Averate rate %	17.00%
Balance at the beginning of the year	R$ 36,871
Balance at the end of the year	33,122	36,871
Supplier agreements, 13% to 100%
Intangible assets with determined useful life
Balance at the beginning of the year	99,997
Balance at the end of the year	R$ 92,590	99,997
Supplier agreements, 13% to 100% | Minimum
Intangible assets with determined useful life
Averate rate %	13.00%
Supplier agreements, 13% to 100% | Maximum
Intangible assets with determined useful life
Averate rate %	100.00%
Port services agreements
Intangible assets with determined useful life
Averate rate %	4.00%
Balance at the beginning of the year	R$ 665,228
Balance at the end of the year	R$ 656,166	665,228
Cultivars
Intangible assets with determined useful life
Averate rate %	14.00%
Balance at the beginning of the year	R$ 122,352
Balance at the end of the year	R$ 112,156	122,352
Development and implementation of systems
Intangible assets with determined useful life
Averate rate %	20.00%
Balance at the beginning of the year	R$ 1,687
Balance at the end of the year	1,534	1,687
Trademarks and patents
Intangible assets with determined useful life
Balance at the beginning of the year	20,649
Balance at the end of the year	R$ 17,368	20,649
Trademarks and patents | Minimum
Intangible assets with determined useful life
Averate rate %	5.00%
Trademarks and patents | Maximum
Intangible assets with determined useful life
Averate rate %	10.00%
Supplier agreements, 5%
Intangible assets with determined useful life
Averate rate %	5.00%
Balance at the beginning of the year	R$ 51,562
Balance at the end of the year	46,406	51,562
Customer portfolio
Intangible assets with determined useful life
Balance at the beginning of the year	8,217,192
Balance at the end of the year	R$ 7,801,989	8,217,192
Customer portfolio | Minimum
Intangible assets with determined useful life
Averate rate %	2.50%
Customer portfolio | Maximum
Intangible assets with determined useful life
Averate rate %	9.00%
Software
Intangible assets with determined useful life
Averate rate %	20.00%
Balance at the beginning of the year	R$ 135,668
Balance at the end of the year	107,277	135,668
Others
Intangible assets with determined useful life
Balance at the beginning of the year	2,534
Balance at the end of the year	R$ 6,777	2,534
Gross
Intangible assets with determined useful life
Fair value adjustment on business combination		(10,159,550)
Gross | Port concession
Intangible assets with determined useful life
Fair value adjustment on business combination		54,470
Gross | Lease agreements
Intangible assets with determined useful life
Fair value adjustment on business combination		44,371
Gross | Supplier agreements
Intangible assets with determined useful life
Fair value adjustment on business combination		172,094
Gross | Port services agreements
Intangible assets with determined useful life
Fair value adjustment on business combination		694,590
Gross | Cultivars
Intangible assets with determined useful life
Fair value adjustment on business combination		142,744
Gross | Customer portfolio
Intangible assets with determined useful life
Fair value adjustment on business combination		9,030,779
Gross | Software
Intangible assets with determined useful life
Fair value adjustment on business combination		20,502
Accumulated Depreciation and Amortization
Intangible assets with determined useful life
Fair value adjustment on business combination		(15,454)
Accumulated Depreciation and Amortization | Port concession
Intangible assets with determined useful life
Business combination		(2,147)
Accumulated Depreciation and Amortization | Lease agreements
Intangible assets with determined useful life
Business combination		(7,499)
Accumulated Depreciation and Amortization | Supplier agreements
Intangible assets with determined useful life
Business combination		(72,097)
Accumulated Depreciation and Amortization | Port services agreements
Intangible assets with determined useful life
Business combination		(29,362)
Accumulated Depreciation and Amortization | Cultivars
Intangible assets with determined useful life
Business combination		(20,392)
Accumulated Depreciation and Amortization | Customer portfolio
Intangible assets with determined useful life
Business combination		(820,980)
Accumulated Depreciation and Amortization | Software
Intangible assets with determined useful life
Business combination		(4,100)
Accumulated Depreciation and Amortization | Fibria
Intangible assets with determined useful life
Fair value adjustment on business combination		R$ (956,577)

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TRADE ACCOUNTS PAYABLE (Details) - BRL (R$) R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Trade accounts payable
Trade accounts payable	R$ 2,081,533	R$ 2,376,459
Klabin S.A.
Trade accounts payable
Payment Period	360 days
Pulp | Klabin S.A.
Trade accounts payable
Trade accounts payable	R$ 30,165
Domestic
Trade accounts payable
Related party (Companies of the Suzano group)	1,448	2,478
Trade accounts payable	1,588,280	1,288,774
Foreign
Trade accounts payable
Trade accounts payable	R$ 491,805	R$ 1,085,207

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LOANS, FINANCING AND DEBENTURES - Breakdown by type (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
LOANS, FINANCING AND DEBENTURES
Current borrowings	R$ 5,546,123	R$ 6,227,951
Non-current	75,082,454	57,456,375
Total borrowings	80,628,577	63,684,326	R$ 35,737,509
Interest on financing, current	1,019,483	886,886
Interest on financing, non-current		136,799
Interest on financing	1,019,483	1,023,685
Non-current funding, current	4,526,640	5,341,065
Non-current funding, non-current	75,082,454	57,319,576
Non-current funding	79,609,094	62,660,641
Foreign
LOANS, FINANCING AND DEBENTURES
Current borrowings	3,581,222	2,664,833
Non-current	60,283,044	42,834,771
Total borrowings	R$ 63,864,266	45,499,604
Foreign | BNDES | UMBNDES
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.93%
Current borrowings	R$ 32,941	26,307
Non-current	27,165	27,620
Total borrowings	R$ 60,106	53,927
Foreign | Bonds | Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.71%
Current borrowings	R$ 806,695	640,177
Non-current	36,114,088	27,375,673
Total borrowings	R$ 36,920,783	28,015,850
Foreign | Export credits (ACC/ACE) | LIBOR/Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	1.52%
Current borrowings	R$ 2,735,141	1,994,868
Non-current	24,141,791	15,431,478
Total borrowings	26,876,932	17,426,346
Foreign | Others
LOANS, FINANCING AND DEBENTURES
Current borrowings	6,445	3,481
Total borrowings	6,445	3,481
Domestic
LOANS, FINANCING AND DEBENTURES
Current borrowings	1,964,901	3,563,118
Non-current	14,799,410	14,621,604
Total borrowings	R$ 16,764,311	18,184,722
Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	7.18%
Current borrowings	R$ 285,382	283,658
Non-current	1,389,771	1,517,649
Total borrowings	R$ 1,675,153	1,801,307
Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	9.72%
Current borrowings	R$ 19,036	18,404
Non-current	431,800	441,233
Total borrowings	R$ 450,836	459,637
Domestic | BNDES | Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.06%
Current borrowings	R$ 33,272	39,325
Non-current	62,313	77,333
Total borrowings	R$ 95,585	116,658
Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.50%
Current borrowings	R$ 85,538	78,458
Non-current	1,076,966	718,017
Total borrowings	1,162,504	796,475
Domestic | FINAME ("Special Agency of Industrial Financing")
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 7,917
Domestic | FINAME ("Special Agency of Industrial Financing") | Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	6.43%
Current borrowings	R$ 4,276	4,781
Non-current	7,917	9,564
Total borrowings	12,193	14,345
Domestic | BNB
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 139,361
Domestic | BNB | Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	6.73%
Current borrowings	R$ 35,300	37,815
Non-current	139,361	156,904
Total borrowings	174,661	194,719
Domestic | CRA ("Agribusiness Receivables Certificates")
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 2,971,744
Domestic | CRA ("Agribusiness Receivables Certificates") | CDI/IPCA
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.53%
Current borrowings	R$ 1,379,045	2,860,938
Non-current	2,971,744	2,952,451
Total borrowings	4,350,789	5,813,389
Domestic | NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 1,273,045
Domestic | NCE ("Export Credit Notes") | CDI
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	5.73%
Current borrowings	R$ 65,940	131,914
Non-current	1,273,045	1,270,065
Total borrowings	1,338,985	1,401,979
Domestic | Rural Producer Certificate
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 273,440
Domestic | Rural Producer Certificate | CDI
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	8.62%
Current borrowings	R$ 3,955	5,840
Non-current	273,440	273,303
Total borrowings	277,395	279,143
Domestic | Export credits ("Pre payment")
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 1,313,123
Domestic | Export credits ("Pre payment") | Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	8.07%
Current borrowings	R$ 23,276	77,694
Non-current	1,313,123	1,312,586
Total borrowings	1,336,399	1,390,280
Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 441,912
Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP | Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	7.99%
Current borrowings	R$ 72,413	76,596
Non-current	441,912	475,905
Total borrowings	514,325	552,501
Domestic | Others (Revolving costs, working capital, FIDC and FDI)
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 4,470
Domestic | Others (Revolving costs, working capital, FIDC and FDI) | Fixed
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	0.40%
Other adjustments to current borrowings	R$ (52,342)	(62,302)
Non-current	4,470	4,559
Other adjustments to borrowings	(47,872)	(57,743)
Domestic | Debentures
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 5,413,548
Domestic | Debentures | CDI
LOANS, FINANCING AND DEBENTURES
Annual average interest rate	6.27%
Current borrowings	R$ 9,810	9,997
Non-current	5,413,548	5,412,035
Total borrowings	R$ 5,423,358	R$ 5,422,032

XML

LOANS, FINANCING AND DEBENTURES - Rollforward in loans, financing and debentures (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
LOANS, FINANCING AND DEBENTURES
Beginning balance	R$ 63,684,326	R$ 35,737,509
Reclassification - accounts payable from lease operations		(18,225)
Fundraising	6,700,529	18,993,837
Interest accrued	1,736,775	3,362,250
Exchange rate variation, net	16,364,585	1,781,562
Settlement of principal	(6,224,940)	(13,994,708)
Settlement of interest	(1,682,413)	(2,977,957)
Amortization of fundraising costs	39,055	185,807
Other	10,660	(52,845)
Ending balance	R$ 80,628,577	63,684,326
Fibria
LOANS, FINANCING AND DEBENTURES
Addition from acquisition of subsidiaries		R$ 20,667,096

XML

LOANS, FINANCING AND DEBENTURES - Breakdown by maturity - non current (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 75,082,454	R$ 57,456,375
Foreign
LOANS, FINANCING AND DEBENTURES
Non-current	60,283,044	42,834,771
Foreign | BNDES | Currency basket
LOANS, FINANCING AND DEBENTURES
Non-current	27,165
Foreign | Bonds | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	36,114,088	27,375,673
Foreign | Export credits (ACC pre-payment)
LOANS, FINANCING AND DEBENTURES
Non-current	24,141,791
Domestic
LOANS, FINANCING AND DEBENTURES
Non-current	14,799,410	14,621,604
Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Non-current	1,389,771	1,517,649
Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Non-current	431,800	441,233
Domestic | BNDES | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	62,313	77,333
Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Non-current	1,076,966	718,017
Domestic | FINAME ("Special Agency of Industrial Financing")
LOANS, FINANCING AND DEBENTURES
Non-current	7,917
Domestic | FINAME ("Special Agency of Industrial Financing") | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	7,917	9,564
Domestic | BNB
LOANS, FINANCING AND DEBENTURES
Non-current	139,361
Domestic | BNB | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	139,361	156,904
Domestic | CRA ("Agribusiness Receivables Certificates")
LOANS, FINANCING AND DEBENTURES
Non-current	2,971,744
Domestic | NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current	1,273,045
Domestic | Rural Producer Certificate
LOANS, FINANCING AND DEBENTURES
Non-current	273,440
Domestic | Export credits ("Pre payment")
LOANS, FINANCING AND DEBENTURES
Non-current	1,313,123
Domestic | Export credits ("Pre payment") | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	1,313,123	1,312,586
Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	441,912
Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	441,912	475,905
Domestic | Others (Revolving costs, working capital, FIDC and FDI)
LOANS, FINANCING AND DEBENTURES
Non-current	4,470
Domestic | Others (Revolving costs, working capital, FIDC and FDI) | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	4,470	R$ 4,559
Domestic | Debentures
LOANS, FINANCING AND DEBENTURES
Non-current	5,413,548
Later than one year and not later than two years
LOANS, FINANCING AND DEBENTURES
Non-current	362,135
Later than one year and not later than two years | Foreign
LOANS, FINANCING AND DEBENTURES
Non-current	94,864
Later than one year and not later than two years | Foreign | BNDES | Currency basket
LOANS, FINANCING AND DEBENTURES
Non-current	2,264
Later than one year and not later than two years | Foreign | Export credits (ACC pre-payment)
LOANS, FINANCING AND DEBENTURES
Non-current	92,600
Later than one year and not later than two years | Domestic
LOANS, FINANCING AND DEBENTURES
Non-current	267,271
Later than one year and not later than two years | Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Non-current	136,711
Later than one year and not later than two years | Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Non-current	9,433
Later than one year and not later than two years | Domestic | BNDES | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	14,475
Later than one year and not later than two years | Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Non-current	48,712
Later than one year and not later than two years | Domestic | FINAME ("Special Agency of Industrial Financing")
LOANS, FINANCING AND DEBENTURES
Non-current	1,908
Later than one year and not later than two years | Domestic | BNB
LOANS, FINANCING AND DEBENTURES
Non-current	17,569
Later than one year and not later than two years | Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	33,993
Later than one year and not later than two years | Domestic | Others (Revolving costs, working capital, FIDC and FDI)
LOANS, FINANCING AND DEBENTURES
Non-current	4,470
Later than two years and not later than three years
LOANS, FINANCING AND DEBENTURES
Non-current	4,574,075
Later than two years and not later than three years | Foreign
LOANS, FINANCING AND DEBENTURES
Non-current	2,550,434
Later than two years and not later than three years | Foreign | BNDES | Currency basket
LOANS, FINANCING AND DEBENTURES
Non-current	13,583
Later than two years and not later than three years | Foreign | Export credits (ACC pre-payment)
LOANS, FINANCING AND DEBENTURES
Non-current	2,536,851
Later than two years and not later than three years | Domestic
LOANS, FINANCING AND DEBENTURES
Non-current	2,023,641
Later than two years and not later than three years | Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Non-current	268,806
Later than two years and not later than three years | Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Non-current	18,866
Later than two years and not later than three years | Domestic | BNDES | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	24,560
Later than two years and not later than three years | Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Non-current	94,876
Later than two years and not later than three years | Domestic | FINAME ("Special Agency of Industrial Financing")
LOANS, FINANCING AND DEBENTURES
Non-current	2,786
Later than two years and not later than three years | Domestic | BNB
LOANS, FINANCING AND DEBENTURES
Non-current	33,081
Later than two years and not later than three years | Domestic | CRA ("Agribusiness Receivables Certificates")
LOANS, FINANCING AND DEBENTURES
Non-current	1,512,680
Later than two years and not later than three years | Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	67,986
Later than three years and not later than four years
LOANS, FINANCING AND DEBENTURES
Non-current	12,058,010
Later than three years and not later than four years | Foreign
LOANS, FINANCING AND DEBENTURES
Non-current	10,070,278
Later than three years and not later than four years | Foreign | BNDES | Currency basket
LOANS, FINANCING AND DEBENTURES
Non-current	11,318
Later than three years and not later than four years | Foreign | Export credits (ACC pre-payment)
LOANS, FINANCING AND DEBENTURES
Non-current	10,058,960
Later than three years and not later than four years | Domestic
LOANS, FINANCING AND DEBENTURES
Non-current	1,987,732
Later than three years and not later than four years | Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Non-current	268,026
Later than three years and not later than four years | Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Non-current	18,866
Later than three years and not later than four years | Domestic | BNDES | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	18,599
Later than three years and not later than four years | Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Non-current	118,336
Later than three years and not later than four years | Domestic | FINAME ("Special Agency of Industrial Financing")
LOANS, FINANCING AND DEBENTURES
Non-current	1,656
Later than three years and not later than four years | Domestic | BNB
LOANS, FINANCING AND DEBENTURES
Non-current	35,199
Later than three years and not later than four years | Domestic | CRA ("Agribusiness Receivables Certificates")
LOANS, FINANCING AND DEBENTURES
Non-current	1,459,064
Later than three years and not later than four years | Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	67,986
Later than four years and not later than five years
LOANS, FINANCING AND DEBENTURES
Non-current	12,592,259
Later than four years and not later than five years | Foreign
LOANS, FINANCING AND DEBENTURES
Non-current	10,803,163
Later than four years and not later than five years | Foreign | Bonds | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	3,266,344
Later than four years and not later than five years | Foreign | Export credits (ACC pre-payment)
LOANS, FINANCING AND DEBENTURES
Non-current	7,536,819
Later than four years and not later than five years | Domestic
LOANS, FINANCING AND DEBENTURES
Non-current	1,789,096
Later than four years and not later than five years | Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Non-current	239,884
Later than four years and not later than five years | Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Non-current	18,866
Later than four years and not later than five years | Domestic | BNDES | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	4,679
Later than four years and not later than five years | Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Non-current	110,275
Later than four years and not later than five years | Domestic | FINAME ("Special Agency of Industrial Financing")
LOANS, FINANCING AND DEBENTURES
Non-current	1,198
Later than four years and not later than five years | Domestic | BNB
LOANS, FINANCING AND DEBENTURES
Non-current	33,085
Later than four years and not later than five years | Domestic | Export credits ("Pre payment")
LOANS, FINANCING AND DEBENTURES
Non-current	1,313,123
Later than four years and not later than five years | Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	67,986
Later than five years and not later than six years
LOANS, FINANCING AND DEBENTURES
Non-current	10,405,885
Later than five years and not later than six years | Foreign
LOANS, FINANCING AND DEBENTURES
Non-current	6,663,707
Later than five years and not later than six years | Foreign | Bonds | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	3,238,123
Later than five years and not later than six years | Foreign | Export credits (ACC pre-payment)
LOANS, FINANCING AND DEBENTURES
Non-current	3,425,584
Later than five years and not later than six years | Domestic
LOANS, FINANCING AND DEBENTURES
Non-current	3,742,178
Later than five years and not later than six years | Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Non-current	292,572
Later than five years and not later than six years | Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Non-current	17,618
Later than five years and not later than six years | Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Non-current	234,525
Later than five years and not later than six years | Domestic | FINAME ("Special Agency of Industrial Financing")
LOANS, FINANCING AND DEBENTURES
Non-current	369
Later than five years and not later than six years | Domestic | BNB
LOANS, FINANCING AND DEBENTURES
Non-current	10,258
Later than five years and not later than six years | Domestic | NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current	640,800
Later than five years and not later than six years | Domestic | Rural Producer Certificate
LOANS, FINANCING AND DEBENTURES
Non-current	137,500
Later than five years and not later than six years | Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	67,986
Later than five years and not later than six years | Domestic | Debentures
LOANS, FINANCING AND DEBENTURES
Non-current	2,340,550
Later than six years and not later than seven years
LOANS, FINANCING AND DEBENTURES
Non-current	7,871,445
Later than six years and not later than seven years | Foreign
LOANS, FINANCING AND DEBENTURES
Non-current	4,313,163
Later than six years and not later than seven years | Foreign | Bonds | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	3,822,186
Later than six years and not later than seven years | Foreign | Export credits (ACC pre-payment)
LOANS, FINANCING AND DEBENTURES
Non-current	490,977
Later than six years and not later than seven years | Domestic
LOANS, FINANCING AND DEBENTURES
Non-current	3,558,282
Later than six years and not later than seven years | Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Non-current	169,102
Later than six years and not later than seven years | Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Non-current	20,120
Later than six years and not later than seven years | Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Non-current	197,061
Later than six years and not later than seven years | Domestic | BNB
LOANS, FINANCING AND DEBENTURES
Non-current	10,169
Later than six years and not later than seven years | Domestic | NCE ("Export Credit Notes")
LOANS, FINANCING AND DEBENTURES
Non-current	632,245
Later than six years and not later than seven years | Domestic | Rural Producer Certificate
LOANS, FINANCING AND DEBENTURES
Non-current	135,940
Later than six years and not later than seven years | Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	67,986
Later than six years and not later than seven years | Domestic | Debentures
LOANS, FINANCING AND DEBENTURES
Non-current	2,325,659
Later than seven years
LOANS, FINANCING AND DEBENTURES
Non-current	27,218,645
Later than seven years | Foreign
LOANS, FINANCING AND DEBENTURES
Non-current	25,787,435
Later than seven years | Foreign | Bonds | Fixed
LOANS, FINANCING AND DEBENTURES
Non-current	25,787,435
Later than seven years | Domestic
LOANS, FINANCING AND DEBENTURES
Non-current	1,431,210
Later than seven years | Domestic | BNDES | TJLP
LOANS, FINANCING AND DEBENTURES
Non-current	14,670
Later than seven years | Domestic | BNDES | TLP
LOANS, FINANCING AND DEBENTURES
Non-current	328,031
Later than seven years | Domestic | BNDES | Selic
LOANS, FINANCING AND DEBENTURES
Non-current	273,181
Later than seven years | Domestic | FCO ("Central West Fund"), FDCO ("Central West Development Fund") and FINEP
LOANS, FINANCING AND DEBENTURES
Non-current	67,989
Later than seven years | Domestic | Debentures
LOANS, FINANCING AND DEBENTURES
Non-current	R$ 747,339

XML

LOANS, FINANCING AND DEBENTURES - Breakdown by currency (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
LOANS, FINANCING AND DEBENTURES
Amount of borrowings outstanding intended to pay	R$ 80,628,577	R$ 63,684,326	R$ 35,737,509
Brazilian Reais
LOANS, FINANCING AND DEBENTURES
Amount of borrowings outstanding intended to pay	16,751,206	18,170,261
USD
LOANS, FINANCING AND DEBENTURES
Amount of borrowings outstanding intended to pay	63,817,265	45,460,138
Currency basket
LOANS, FINANCING AND DEBENTURES
Amount of borrowings outstanding intended to pay	R$ 60,106	R$ 53,927

XML

LOANS, FINANCING AND DEBENTURES - Fundraising costs (Details) - BRL (R$) R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Cost	R$ 676,905
Amortization	254,340
Balance to be amortized	422,565	R$ 351,394
Bonds
Disclosure of detailed information about borrowings [line items]
Cost	343,642
Amortization	95,226
Balance to be amortized	248,416	201,467
CRA and NCE
Disclosure of detailed information about borrowings [line items]
Cost	125,222
Amortization	85,955
Balance to be amortized	39,267	47,443
Export credits (ACC/ACE)
Disclosure of detailed information about borrowings [line items]
Cost	102,769
Amortization	33,875
Balance to be amortized	68,894	40,382
Debentures
Disclosure of detailed information about borrowings [line items]
Cost	24,467
Amortization	6,915
Balance to be amortized	17,552	19,065
BNDES ("IOF")
Disclosure of detailed information about borrowings [line items]
Cost	62,658
Amortization	18,435
Balance to be amortized	44,223	38,447
Others
Disclosure of detailed information about borrowings [line items]
Cost	18,147
Amortization	13,934
Balance to be amortized	R$ 4,213	R$ 4,590

XML

LOANS, FINANCING AND DEBENTURES - Relevant transactions entered into during the period (Details) R$ in Thousands, $ in Thousands	Jun. 29, 2020 BRL (R$)	Apr. 02, 2020 USD ($)	Feb. 14, 2020 USD ($)	Apr. 02, 2020 BRL (R$)	Feb. 14, 2020 BRL (R$)
Export Prepayment Agreements ("EPP") | Suzano Pulp and Paper Europe S.A., Suzano Austria GmbH and Fibria Overseas Finance Ltd | Transactions entered into during the period
LOANS, FINANCING AND DEBENTURES
Notional amount			$ 850,000		R$ 3,672,259
Debt instrument term			6 years
Debt instrument grace period			4 years
Interest rate			1.15%		1.15%
Interest rate basis			LIBOR 3M
Revolving credit facility | Suzano Pulp and Paper Europe S.A
LOANS, FINANCING AND DEBENTURES
Notional amount		$ 500,000		R$ 2,638,221
Interest rate		1.30%		1.30%
Interest rate basis		quarterly LIBOR
BNDES
LOANS, FINANCING AND DEBENTURES
Notional amount	R$ 400,000
Debt instrument term	124 months
Interest rate basis	Selic interest rate
BNDES | Transactions entered into during the period
LOANS, FINANCING AND DEBENTURES
Interest rate	1.96%

XML

LOANS, FINANCING AND DEBENTURES - Relevant transactions settled in the period (Details) R$ in Thousands, $ in Thousands	Jun. 22, 2020 BRL (R$)	Apr. 13, 2020 BRL (R$)	Mar. 31, 2020 USD ($)	Mar. 31, 2020 BRL (R$)	Feb. 14, 2020 USD ($)	Feb. 14, 2020 BRL (R$)
Export Prepayment Agreements ("EPP") | Suzano Pulp and Paper Europe S.A | Transactions settled during the period
LOANS, FINANCING AND DEBENTURES
Transaction amount settled					$ 755,864	R$ 3,240,229
Interest rate					1.15%	1.15%
Interest rate basis					quarterly LIBOR	quarterly LIBOR
Make-whole Senior Notes | Suzano Trading Ltd
LOANS, FINANCING AND DEBENTURES
Transaction amount settled			$ 199,864	R$ 1,039,032
Redemption price			104.287%	104.287%
Agribusiness Receivables Certificates (CRA) issued in April 2016
LOANS, FINANCING AND DEBENTURES
Transaction amount settled		R$ 612,779
Principle amount		600,000
Accrued interest		R$ 12,779
Agribusiness Receivables Certificates (CRA) issued in April 2016 | CDI
LOANS, FINANCING AND DEBENTURES
Percentage of basis used to calculate interest rate		98.00%
Agribusiness Receivables Certificates (CRA) issued in June 2016
LOANS, FINANCING AND DEBENTURES
Transaction amount settled	R$ 895,655
Principle amount	880,155
Accrued interest	R$ 15,500
Agribusiness Receivables Certificates (CRA) issued in June 2016 | CDI
LOANS, FINANCING AND DEBENTURES
Percentage of basis used to calculate interest rate	97.00%

XML

LEASE - Right of use assets (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Jan. 01, 2019
Right of use assets, effect of adoption
Beginning balance	R$ 3,850,237	R$ 0
Initial adoption on January 1, 2019				R$ 3,357,850
Additions	561,162	914,327
Amortization	(211,595)	(421,940)
Ending balance	4,199,804	3,850,237
Reclassified to biological assets	118,286		R$ 116,577
Lands and Farms
Right of use assets, effect of adoption
Beginning balance	1,769,645	0
Initial adoption on January 1, 2019				1,762,943
Additions	337,323	260,982
Amortization	(119,220)	(254,280)
Ending balance	1,987,748	1,769,645
Machinery and equipment
Right of use assets, effect of adoption
Beginning balance	130,051	0
Initial adoption on January 1, 2019				143,685
Additions	2,153	1,529
Amortization	(5,054)	(15,163)
Ending balance	127,150	130,051
Buildings
Right of use assets, effect of adoption
Beginning balance	45,999	0
Initial adoption on January 1, 2019				41,570
Additions	26,716	39,794
Amortization	(10,521)	(35,365)
Ending balance	62,194	45,999
Ships and boats
Right of use assets, effect of adoption
Beginning balance	1,904,455	0
Initial adoption on January 1, 2019				1,408,640
Additions	194,907	612,022
Amortization	(76,771)	(116,207)
Ending balance	2,022,591	1,904,455
Vehicles
Right of use assets, effect of adoption
Beginning balance	87	0
Initial adoption on January 1, 2019				R$ 1,012
Additions	63
Amortization	(29)	(925)
Ending balance	R$ 121	R$ 87

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LEASE - Lease liabilities (Details) R$ in Thousands, $ in Thousands	1 Months Ended	6 Months Ended
	Apr. 12, 2020	Jun. 30, 2020 USD ($)	Jun. 30, 2020 BRL (R$)	Dec. 31, 2019 BRL (R$)	Jan. 01, 2019 BRL (R$)	Dec. 31, 2018 BRL (R$)
Lease Liabilities
Present value of liabilities			R$ 5,173,972	R$ 3,984,070		R$ 0
IFRS 16, Leases
Lease Liabilities
Present value of liabilities					R$ 5,173,972
Lands and Farms | IFRS 16, Leases
Lease Liabilities
Average rate - % per annual					11.45%
Present value of liabilities					R$ 2,164,710
Machinery and equipment | IFRS 16, Leases
Lease Liabilities
Average rate - % per annual					10.62%
Present value of liabilities					R$ 247,281
Buildings | IFRS 16, Leases
Lease Liabilities
Average rate - % per annual					9.80%
Present value of liabilities					R$ 41,650
Ships and boats | IFRS 16, Leases
Lease Liabilities
Average rate - % per annual					11.39%
Present value of liabilities					R$ 2,720,284
Vehicles | IFRS 16, Leases
Lease Liabilities
Average rate - % per annual					10.04%
Present value of liabilities					R$ 47
Leased ships
Lease Liabilities
Lease term	10 months
Number of ships leased	2
Chartering available from third party		$ 7,500	R$ 38,990

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LEASE - Lease liabilities Rollforward (Details) - BRL (R$) R$ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
Lease Liabilities
Beginning balance	R$ 3,984,070	R$ 0	R$ 0
Additions	561,162		914,327
Payments	(354,289)		(646,487)
Accrual of financial charges	240,528		275,404
Exchange rate variation	742,501		11,929
Ending balance	5,173,972		3,984,070
Current	704,174		656,844
Non-current	4,469,798		R$ 3,327,226
IFRS 16, Leases
Lease Liabilities
Initial adoption on January 1, 2019				R$ 3,428,897
Leased Land
Lease Liabilities
Accrual of financial charges	R$ 37,040	R$ 30,440

XML

LEASE - Amounts recognized in the statement of income for the year (Details) - BRL (R$) R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
LEASE
Expenses relating to short-term assets	R$ 2,531	R$ 26,570
Expenses relating to low-value assets	6,428	4,581
Total amount recognized	R$ 8,959	R$ 31,151

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PROVISION FOR JUDICIAL LIABILITIES - Provisions for probable losses by lawsuit natures (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of other provisions [line items]
Judicial deposits	R$ (188,814)	R$ (174,324)
Provision	3,630,265	3,686,801
Provisions, net	3,441,451	3,512,477	R$ 351,270
Tax
Disclosure of other provisions [line items]
Judicial deposits	(130,502)	(124,133)
Provision	3,137,046	3,176,503
Provisions, net	3,006,544	3,052,370
Labor
Disclosure of other provisions [line items]
Judicial deposits	(54,975)	(50,464)
Provision	234,300	227,139	R$ 50,869
Provisions, net	179,325	176,675
Civil
Disclosure of other provisions [line items]
Judicial deposits	(3,337)	273
Provision	258,919	283,159
Provisions, net	R$ 255,582	R$ 283,432

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PROVISION FOR JUDICIAL LIABILITIES - Provisions for probable losses by nature of proceedings (Details) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020 BRL (R$) lawsuit	Dec. 31, 2019 BRL (R$)
PROVISION FOR JUDICIAL LIABILITIES
Balance at the beginning of the year	R$ 3,686,801
Business combination with Fibria		R$ 389,593
Payments	(52,693)	(40,360)
Write-off	(68,635)	(73,039)
Additions	42,233	3,009,576
Monetary adjustment	22,559	49,761
Balance at the end of the year	3,630,265	3,686,801
Tax
PROVISION FOR JUDICIAL LIABILITIES
Balance at the beginning of the year	492,413	296,869
Business combination with Fibria		139,462
Payments	(22,706)	(34)
Write-off	(25,331)	(3,875)
Additions	5,362	46,603
Monetary adjustment	6,969	13,388
Balance at the end of the year	R$ 456,707	492,413
Tax | Probable loss
PROVISION FOR JUDICIAL LIABILITIES
Number of administrative proceedings and lawsuits | lawsuit	46
Labor
PROVISION FOR JUDICIAL LIABILITIES
Balance at the beginning of the year	R$ 227,139	50,869
Business combination with Fibria		185,157
Payments	(16,161)	(34,794)
Write-off	(20,347)	(55,730)
Additions	30,920	50,521
Monetary adjustment	12,749	31,116
Balance at the end of the year	R$ 234,300	227,139
Labor | Probable loss
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits | lawsuit	1,180
Civil and environment
PROVISION FOR JUDICIAL LIABILITIES
Balance at the beginning of the year	R$ 64,897	3,532
Business combination with Fibria		64,974
Payments	(13,826)	(5,532)
Write-off	(18,807)	(13,434)
Additions	5,951	10,100
Monetary adjustment	2,841	5,257
Balance at the end of the year	R$ 41,056	64,897
Civil and environment | Probable loss
PROVISION FOR JUDICIAL LIABILITIES
Number of lawsuits | lawsuit	28
Contingent liabilities
PROVISION FOR JUDICIAL LIABILITIES
Balance at the beginning of the year	R$ 2,902,352
Write-off	(4,150)
Additions		2,902,352
Balance at the end of the year	R$ 2,898,202	R$ 2,902,352

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PROVISION FOR JUDICIAL LIABILITIES - Provision for possible losses (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	R$ 10,069,164	R$ 10,779,908
Fibria
PROVISION FOR JUDICIAL LIABILITIES
Fair Value Adjustment Of Probable Contingencies	2,865,364
Tax
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	6,379,823	7,504,398
Labor
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	293,904	279,934
Civil
PROVISION FOR JUDICIAL LIABILITIES
Possible losses for which no provision was recorded	R$ 3,395,437	R$ 2,995,576

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EMPLOYEE BENEFIT PLANS - Defined Contribution Plans (Details) - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Suzano Prev pension plan
Defined contribution plans
Employer contributions	R$ 3,505	R$ 5,993
FUNSEJEM
Defined contribution plans
Employer contributions	R$ 4,363	R$ 9,920

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EMPLOYEE BENEFIT PLANS - Changes in actuarial liability (Details) - Defined benefit plan - BRL (R$) R$ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Changes in actuarial liability
Actuarial liabilities balance, beginning of the year	R$ 736,179	R$ 430,427
Business combination with Fibria		147,877
Interest on employee benefits	26,527	44,496
Actuarial loss		147,640
Exchange rate variation	449
Benefits paid in the year	(19,050)	(34,261)
Actuarial liabilities balance, end of the year	R$ 744,105	R$ 736,179

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SHARE-BASED COMPENSATION PLAN - Long term compensation plans ("PS and SAR") (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2020 EquityInstruments item R$ / shares	Dec. 31, 2019 EquityInstruments R$ / shares
SHARE-BASED COMPENSATION PLAN
Number of share-based compensation plans | item	3
PSO
Number of shares
Beginning balance	5,996,437	5,045,357
Granted during of the period	869,251	2,413,038
Exercised	(755,707)	(827,065)
Exercised due to resignation	(13,211)	(106,983)
Abandoned / prescribed due to resignation	(123,457)	(527,910)
Ending balance	5,973,313	5,996,437
Weighted average exercise price for share options exercised | R$ / shares	R$ 38.48	R$ 31.75

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SHARE-BASED COMPENSATION PLAN - Common stock option plan (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2020 EquityInstruments R$ / shares
SHARE-BASED COMPENSATION PLAN
Price on grant date | R$ / shares	R$ 39.10
Shares Granted | EquityInstruments	130,435

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SHARE-BASED COMPENSATION PLAN - Amounts recognized in the financial Statements (Details) - BRL (R$) R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Liabilities and equity
Provision for phantom stock plan	R$ 151,365		R$ 136,505
Capital reserves	6,200,079		6,198,599
Income Statement
Total general and administrative expenses from share-based transactions	(50,623)	R$ (30,167)
PSO
Liabilities and equity
Provision for phantom stock plan	151,365		136,505
Income Statement
Total general and administrative expenses from share-based transactions	(49,143)	(27,529)
Common stock option plan
Income Statement
Total general and administrative expenses from share-based transactions	(1,480)	R$ (2,638)
Common stock option plan | Stock options granted
Liabilities and equity
Capital reserves	R$ 7,459		R$ 5,979

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LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Mar. 31, 2018	Aug. 31, 2014
Liabilities for assets acquisitions
Assets acquisition	R$ 76,286	R$ 78,345
Business combination transaction	581,849	463,270
Liabilities for assets acquisitions and Business combination transaction	658,135	541,615
Total current liabilities	127,721	94,414
Total non-current liabilities	530,414	447,201
VFFIP
Liabilities for assets acquisitions
Business combination transaction	538,897	420,737
Consideration paid				R$ 528,941
Cash transferred				R$ 44,998
Facepa
Liabilities for assets acquisitions
Business combination transaction	42,952	42,533
Consideration paid			R$ 307,876
Cash transferred			R$ 267,876
Lands and forests | Real Estate Receivables Certificates
Liabilities for assets acquisitions
Assets acquisition	R$ 76,286	R$ 78,345

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SHAREHOLDERS' EQUITY - Share capital (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Share Capital
Share capital	R$ 9,235,546	R$ 9,235,546
Number of shares outstanding	1,361,263,584
Percentage of common shares	100.00%
Maximum authorized increase in number of common shares	780,119,712
Share Capital
Share Capital
Share capital		R$ 9,269,281
Treasury shares
Share Capital
Number of shares outstanding	12,042,004
Percentage of common shares	0.88%
Share issuance costs
Share Capital
Share issue related cost	R$ 33,735
BRAZIL
Share Capital
SUZB3 common shares quoted (per share)	R$ 36.79	R$ 39.68
Controlling Shareholders
Share Capital
Number of shares outstanding	624,141,609
Percentage of common shares	45.85%
Suzano Holding S.A.
Share Capital
Number of shares outstanding	367,612,329
Percentage of common shares	27.01%
Controller
Share Capital
Number of shares outstanding	194,809,797
Percentage of common shares	14.31%
Management
Share Capital
Number of shares outstanding	35,564,742
Percentage of common shares	2.61%
Alden Fundo de Investimento em Aes
Share Capital
Number of shares outstanding	26,154,741
Percentage of common shares	1.92%
BNDESPAR
Share Capital
Number of shares outstanding	150,217,425
Percentage of common shares	11.04%
Votorantim S.A.
Share Capital
Number of shares outstanding	75,180,059
Percentage of common shares	5.52%
Other shareholders
Share Capital
Number of shares outstanding	499,682,487
Percentage of common shares	36.71%

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SHAREHOLDERS' EQUITY - Treasury shares (Details) R$ / shares in Units, R$ in Thousands	6 Months Ended
	Jun. 30, 2020 BRL (R$) R$ / shares shares
SHAREHOLDERS' EQUITY
Quantity | shares	12,042,044
Average cost per share | R$ / shares	R$ 18.13
Historical value	R$ 218,265
Market value	443,025
Purchase of treasury shares	0
Sale of treasury shares	R$ 0

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EARNINGS (LOSS) PER SHARE - Basic earnings (losses) per share (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Basic earnings per share
Resulted of the period attributable for controlling shareholders'	R$ (2,057,101)	R$ 700,548	R$ (15,479,631)	R$ (526,255)
Weighted average number of shares in the period			1,361,264	1,361,264
Weighted average treasury shares			(12,042)	(12,042)
Weighted average number of outstanding shares			1,349,222	1,349,222
Basic loss per common share - RS	R$ (1.52466)	R$ 0.51922	R$ (11.47301)	R$ (0.39004)

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EARNINGS (LOSS) PER SHARE - Diluted earnings (losses) per share (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Diluted earnings per share
Resulted of the period attributable for controlling shareholders'	R$ (2,057,101)	R$ 700,548	R$ (15,479,631)	R$ (526,255)
Weighted average number of shares in the period (except treasury shares)			1,349,222	1,349,222
Weighted average number of shares (diluted)			1,349,222	1,349,222
Diluted loss per common share - R$	R$ (1.52466)	R$ 0.51922	R$ (11.47301)	R$ (0.39004)

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NET FINANCIAL RESULT (Details) - BRL (R$) R$ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
NET FINANCIAL RESULT
Interest on loans, financing and debentures			R$ (1,728,835)		R$ (1,674,698)
Amortization of fundraising costs			(41,268)		(159,856)
Amortization of fair value adjustment on business combination			(10,660)		63,128
Other financial expenses			(338,787)		(307,570)
Financial expenses			(2,119,550)		(2,078,996)
Cash and cash equivalents and marketable securities			108,427		214,116
Amortization of fair value adjustment on business combination			47,619		37,412
Other financial income			47,127		47,401
Financial income			203,173		298,929
Income			990,989		1,052,879
Expenses			(11,826,103)		(1,432,386)
Income from derivative financial instruments			(10,835,114)		(379,507)
Exchange rate variation on loans, financing and debentures			(16,364,585)		421,010
Leases			(742,501)		(11,684)
Other assets and liabilities			1,757,291		(106,830)
Monetary and exchange rate variation, net	R$ (2,930,209)	R$ 758,223	(15,349,795)	R$ 302,496	302,496
Financial result, net			(28,101,286)	(1,857,078)	R$ (1,857,078)
Capitalized interest costs on loans, financing and debentures			R$ 7,940	R$ 1,505

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NET SALES - Reconciliation (Details) - BRL (R$) R$ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
NET SALES
Gross sales			R$ 17,477,563		R$ 14,984,035
Adjustment to present value					(8,564)
Returns and cancelations			(40,981)		(47,704)
Discounts and rebates			(1,901,193)		(1,863,366)
Deductions			15,535,389		13,064,401
Taxes on sales			(558,923)		(700,320)
Net sales	R$ 7,995,673	R$ 6,665,082	R$ 14,976,466	R$ 12,364,081	R$ 12,364,081

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SEGMENT INFORMATION - Operating segment results (Details) - BRL (R$) R$ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Operating segments
Net sales	R$ 7,995,673	R$ 6,665,082	R$ 14,976,466	R$ 12,364,081	R$ 12,364,081
Cost of sales	(4,788,694)	(5,222,119)	(9,608,693)	(9,947,012)
Gross profit	3,206,979	1,442,963	R$ 5,367,773	R$ 2,417,069
Gross margin (%)			35.84%	19.50%
Operating income (expenses)			R$ (1,503,135)	R$ (1,349,196)
Selling	(547,098)	(456,981)	(1,062,034)	(898,284)
General and administrative	(335,715)	(278,031)	(650,551)	(608,796)
Other operating, net	195,671	171,199	212,402	152,315
Income (loss) from associates and joint ventures	(3,663)	3,911	(2,952)	5,569
Operating profit before net financial income ("EBIT")	2,516,174	883,061	R$ 3,864,638	R$ 1,067,873
Operating margin (%)			25.80%	8.60%
Financial result, net			R$ (28,101,286)	R$ (1,857,078)	R$ (1,857,078)
Net Income (loss) before income taxes	(3,141,064)	962,126	(24,236,648)	(789,205)
Income taxes			8,765,069	259,921
Net Income (loss) for the period	(2,052,518)	699,848	R$ (15,471,579)	R$ (529,284)
Profit (loss) margin for the year (%)			(103.31%)	(4.30%)
Resulted of the period attributable for controlling shareholders'	(2,057,101)	700,548	R$ (15,479,631)	R$ (526,255)
Result of the period attributed to non-controlling shareholders	R$ 4,583	R$ (700)	8,052	(3,029)
Depreciation, depletion and amortization			3,357,581	4,695,448
Domestic
Operating segments
Net sales			2,113,991	2,576,000
Foreign
Operating segments
Net sales			12,862,475	9,788,081
Pulp
Operating segments
Net sales			12,862,936	10,055,757
Cost of sales			(8,246,527)	(8,414,712)
Gross profit			R$ 4,616,409	R$ 1,641,045
Gross margin (%)			35.89%	16.30%
Operating income (expenses)			R$ (1,179,960)	R$ (971,698)
Selling			(875,343)	(712,005)
General and administrative			(460,226)	(418,980)
Other operating, net			170,212	159,287
Income (loss) from associates and joint ventures			(14,603)
Operating profit before net financial income ("EBIT")			R$ 3,436,449	R$ 669,347
Operating margin (%)			26.72%	6.70%
Net Income (loss) before income taxes			R$ 3,436,449	R$ 669,347
Net Income (loss) for the period			R$ 3,436,449	R$ 669,347
Profit (loss) margin for the year (%)			26.72%	6.70%
Resulted of the period attributable for controlling shareholders'			R$ 3,436,449	R$ 669,347
Depreciation, depletion and amortization			3,126,528	4,455,493
Pulp | Domestic
Operating segments
Net sales			741,568	984,098
Pulp | Foreign
Operating segments
Net sales			12,121,368	9,071,659
Paper
Operating segments
Net sales			2,113,530	2,308,324
Cost of sales			(1,362,166)	(1,532,300)
Gross profit			R$ 751,364	R$ 776,024
Gross margin (%)			35.55%	33.60%
Operating income (expenses)			R$ (323,175)	R$ (377,498)
Selling			(186,691)	(186,279)
General and administrative			(190,325)	(189,816)
Other operating, net			42,190	(6,972)
Income (loss) from associates and joint ventures			11,651	5,569
Operating profit before net financial income ("EBIT")			R$ 428,189	R$ 398,526
Operating margin (%)			20.26%	17.30%
Net Income (loss) before income taxes			R$ 428,189	R$ 398,526
Net Income (loss) for the period			R$ 428,189	R$ 398,526
Profit (loss) margin for the year (%)			20.26%	17.30%
Resulted of the period attributable for controlling shareholders'			R$ 428,189	R$ 398,526
Depreciation, depletion and amortization			231,053	239,955
Paper | Domestic
Operating segments
Net sales			1,372,423	1,591,902
Paper | Foreign
Operating segments
Net sales			741,107	716,422
Not segmented
Operating segments
Financial result, net			(28,101,286)	(1,857,078)
Net Income (loss) before income taxes			(28,101,286)	(1,857,078)
Income taxes			8,765,069	259,921
Net Income (loss) for the period			(19,336,217)	(1,597,157)
Resulted of the period attributable for controlling shareholders'			(19,344,269)	(1,594,128)
Result of the period attributed to non-controlling shareholders			R$ 8,052	R$ (3,029)

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SEGMENT INFORMATION - Net sales by product (Details) - BRL (R$) R$ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Net sales by products
Net sales	R$ 7,995,673	R$ 6,665,082	R$ 14,976,466	R$ 12,364,081	R$ 12,364,081
Market pulp
Net sales by products
Net sales			R$ 12,862,936	R$ 10,055,757
Fluff pulp
Net sales by products
Percentage of total net sales			0.60%	0.60%
Printing and writing paper
Net sales by products
Net sales			R$ 1,661,611	R$ 1,902,733
Tissue
Net sales by products
Percentage of total net sales			2.60%	2.60%
Paperboard
Net sales by products
Net sales			R$ 430,292	R$ 382,440
Others
Net sales by products
Net sales			R$ 21,627	R$ 23,151

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SEGMENT INFORMATION - Goodwill based on expected future profitability (Details) - BRL (R$) R$ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Disclosure of products and services [line items]
Goodwill Based On Expected Future Profitability	R$ 8,061,818	R$ 8,061,818
Pulp
Disclosure of products and services [line items]
Goodwill Based On Expected Future Profitability	7,942,486	7,942,486
Consumer Goods
Disclosure of products and services [line items]
Goodwill Based On Expected Future Profitability	R$ 119,332	R$ 119,332

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RESULTS BY NATURE (Details) - BRL (R$) R$ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cost of sales
Personnel expenses			R$ (505,895)	R$ (724,815)
Costs with raw materials, materials and services			(4,059,893)	(3,328,416)
Logistics cost			(2,025,824)	(1,278,385)
Depreciation, depletion and amortization			(2,843,700)	(4,321,013)
Operating expenses Covid-19			(15,500)
Other			(157,881)	(294,383)
Cost of sales	R$ (4,788,694)	R$ (5,222,119)	(9,608,693)	(9,947,012)
Selling expenses
Personnel expenses			(93,913)	(100,942)
Services			(53,938)	(41,602)
Logistics cost			(410,230)	(273,414)
Depreciation, depletion and amortization			(460,597)	(441,995)
Other			(43,356)	(40,331)
Selling expenses	(547,098)	(456,981)	(1,062,034)	(898,284)
General and Administrative expenses
Personnel expenses			(351,108)	(351,784)
Services			(134,501)	(138,370)
Depreciation and amortization			(43,814)	(20,468)
Social actions Covid-19			(48,024)
Operating expenses Covid-19			(10,729)
Other			(62,375)	(98,174)
Administrative expenses	(335,715)	(278,031)	(650,551)	(608,796)
Other operating income (expenses) net
Rents and leases			2,365	668
Result from sale of other products, net			24,886	12,895
Result from sale and disposal of property, plant and equipment and biological assets, net			9,343	(27,568)
Result on fair value adjustment of biological assets			173,733	83,453	R$ 185,399
Insurance reimbursement			4,129	6,587
Provision for loss of judicial deposits				(3,284)
Amortization and depletion			(9,470)	(9,192)
Sale of legal credits (Eletrobras)				87,000
Result on disposal of investments			(9,404)
Other operating income (expenses), net			16,820	1,756
Other operating (expenses) income net	R$ 195,671	R$ 171,199	212,402	152,315
Cost of idle capacity and maintenance downtime			R$ 149,087	0
Amortization of inventories setup				R$ 2,178,903

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SUBSEQUENT EVENTS (Details)	Apr. 01, 2020	Aug. 13, 2020 USD ($)	Aug. 13, 2020 BRL (R$)	Jun. 30, 2020 BRL (R$)	Dec. 31, 2019 BRL (R$)	Dec. 31, 2018 BRL (R$)
Events subsequent to the reporting date
Amount of borrowings outstanding intended to pay				R$ 80,628,577,000	R$ 63,684,326,000	R$ 35,737,509,000
Intention to pay revolving credit facility | Revolving credit facility
Events subsequent to the reporting date
Amount of borrowings outstanding intended to pay		$ 500,000	R$ 2,638,221
Debt instrument term	47 months
Intention to pay revolving credit facility | Revolving credit facility | LIBOR
Events subsequent to the reporting date
Interest rate adjustment	1.30%