The year 2024 was marked by significant advancements in the Company's strategy, including the acquisition of new businesses and the start-up of the new mill in Ribas do Rio Pardo and the conclusion of its learning curve as early as December, anticipating the initial nine-month forecast. Regarding the performance of the pulp business unit in the last quarter of the year, base prices in China fell by 15% until the end of November (vs. the 3Q24 average), but it has been stable after this period. The quarter was also marked once again by the significant appreciation of the average USD against the average BRL and the increase in sales volume, both factors offsetting the decline in the average net pulp price. The cash production cost (excluding the effect of scheduled maintenance downtime) was 7% lower than in 3Q24, also benefited from the gradual stabilization of production at the Ribas do Rio Pardo unit. Therefore, adjusted EBITDA from pulp remained stable compared to 3Q24 but increased 53% compared to 4Q23. In the paper business unit, adjusted EBITDA declined in 4Q24 vs. 3Q24 (-9%), but remained stable in relation to 4Q23, in which the Company concluded the acquisitions of the Pine Bluff and Waynesville units.

Solenis is expanding production at its Ankleshwar facility in India to manufacture its next-generation Pergafast™ 425 color developer for the thermal paper market. Part of Solenis’ imaging product line, the patented Pergafast™ 425 provides additional performance capabilities as compared to the company’s well-known Pergafast™ 201 color developer. Color developers are used in the formulation of the coating layer in thermal papers. They play a key role in developing the image on the paper when exposed to heat in the thermal printing process. Thermal paper is used in various applications, such as supermarket receipts and packaging labels. “With this new expansion, we intend to support our customers in their journey towards more sustainable products,” said Christophe Zebst, director, Product Management.

On April 16, Catalyst Paper Corporation curtailed production on paper machine 11 at the Powell River mill in response to a shortage of fibre and United States tariffs on uncoated groundwood paper. When it announced the action, Catalyst stated the curtailment would last until May 7. No layoffs are expected as a result of the curtailment and employees affected are being moved to other duties at the mill.