| Assets | — | — |
| Current assets | — | — |
| Cash and cash equivalents | 4,516.69a | 6,460.21a |
| Financial investments and marketable securities | 18,002.83a | 15,418.14a |
| Trade accounts receivable | 9,175.81a | 7,213.65a |
| Inventories | 11,482.94a | 10,113.12a |
| Biological assets | 2,926.42a | 2,756.68a |
| Recoverable taxes | 3,235.33a | 2,920.64a |
| Prepaid expenses | 425.83a | 302.5a |
| Notes receivable | 59.45a | 96.77a |
| Advances to suppliers | 2,739.4a | 913.43a |
| Derivative financial instruments | 84.97a | 126.92a |
| Restricted cash | 276.03a | 13.81a |
| Dividends receivable | 0.85a | 0.85a |
| Other receivables | 586.07a | 664.87a |
| Assets held for sale | 1,422.06a | 5,099.2a |
| Total current assets | 54,934.67a | 52,100.8a |
| Non-current assets | — | — |
| Financial investments and marketable securities | 323.81a | 320a |
| Trade accounts receivable | 22.62a | 5.9a |
| Judicial deposits | 487.5a | 463.53a |
| Recoverable taxes | 10,141.5a | 9,089.56a |
| Notes receivable | 8.64a | 2.13a |
| Restricted cash | 60.79a | 72.4a |
| Deferred income and social contribution taxes | 4,476.96a | 2,586.77a |
| Derivative financial instruments | 251.58a | 625.85a |
| Other receivables | 250a | 229.73a |
| Biological assets | 1,787.24a | 1,858.32a |
| Investments | 224.84a | 654.64a |
| Investment property | 116.79a | 115.17a |
| Property, plant and equipment | 41,246.11a | 40,646.7a |
| Right-of-use assets | 4,049.36a | 3,631.19a |
| Intangible assets | 19,127.73a | 18,551.97a |
| Total non-current assets | 82,575.47a | 78,853.84a |
| Total assets | 137,510.14a | 130,954.64a |
| Liabilities and equity | — | — |
| Current liabilities | — | — |
| Trade accounts payable | 20,261.85a | 16,706.98a |
| Accrued payroll and related charges | 2,351.89a | 1,669.66a |
| Taxes payable | 1,236.66a | 763.56a |
| Loans, financing and debentures | 8,352.85a | 7,509.41a |
| Advances from customers | 6,089.06a | 4,614.64a |
| Lease payable | 1,204.47a | 1,080.3a |
| Notes payable | 220.65a | 196.7a |
| Provision for contingencies | 784.3a | 720.19a |
| Derivative financial instruments | 450.95a | 121.44a |
| Dividends and interest on equity paid | 2.79a | 0.81a |
| Other payables | 1,242.97a | 729.35a |
| Liabilities related to held-for-sale assets | 767.34a | 8,057.84a |
| Total current liabilities | 42,965.78a | 42,170.87a |
| Non-current liabilities | — | — |
| Deferred income and social contribution taxes | 8,755.95a | 9,553.51a |
| Trade accounts payable | 11.77a | 0.42a |
| Accrued payroll and related charges | 467.13a | 454.4a |
| Taxes payable | 258.3a | 346.66a |
| Loans, financing and debentures | 52,770.78a | 44,076.18a |
| Lease payable | 3,691.73a | 3,158.26a |
| Notes payable | 39.16a | 63.24a |
| Provision for contingencies | 6,607.42a | 5,461.63a |
| Derivative financial instruments | 1,415.53a | 94.25a |
| Other payables | 588.5a | 685.38a |
| Total non-current liabilities | 74,606.25a | 63,893.93a |
| Equity | — | — |
| Share capital | 10,367.39a | 10,367.39a |
| Capital reserve and treasury shares | -2,141.44a | -515.88a |
| Legal reserve | 624.66a | 484.85a |
| Tax incentive reserve | 964.29a | 229.4a |
| Earnings reserve | 2,637.33a | 2,927.39a |
| Other comprehensive income | -9,628.09a | -5,861.83a |
| Controlling shareholders’ equity | 2,824.14a | 7,631.32a |
| Non-controlling interest | 17,113.97a | 17,258.51a |
| Total equity | 19,938.11a | 24,889.84a |
| Total liabilities and equity | 137,510.14a | 130,954.64a |