Suzano's sales rose 36%, and adjusted EBITDA on a comparable basis and cash generation also increased. The sales jump mainly came from first counting Arbex, but the other gains support a positive reading.
The added joint venture gives Suzano a wider reach and more products. Much of the sales jump came from counting Arbex for the first time, rather than stated growth in Suzano's existing business. Still, the company's adjusted measure of operating earnings and its cash generation also increased, supporting a positive reading.
The report says Suzano first counted results from its 51%-owned Arbex joint venture. It gives no separate change in Kimberly-Clark's sales or profit, so it does not show a change in Kimberly-Clark's outlook.
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