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SAO PAULO, Feb 9 (Reuters) - Brazilian pulpmaker Suzano on Wednesday posted net profit above analysts' estimates for the fourth quarter, driven by a recovery in pulp prices.
The company reported a net profit of 2.3 billion reais ($439.38 million), down 61% from a year earlier, but above an average analyst estimate compiled by Refinitiv of 1.6 billion reais.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled 6.35 billion reais, a 60% jump from the same quarter of 2020.
In the European and North American markets, "demand for pulp was driven by solid performance by the paper segments," the company said in a filing.
In China, it said paper production recovered from the energy restrictions that affected the industry during the third quarter, supported by the usual restocking ahead of the Chinese New Year.
The world largest pulpmaker posted 11.4 billion reais in revenue, a 43% growth from a year earlier, boosted by higher pulp prices, which reached an average of $630 per tonne in the fourth quarter, well above the $459 per tonne reported at the end of 2020.
Suzano's total sales volume grew 3% in the period to 3.1 million tonnes, with pulp sales showing a increase of 2% year-on-year, to 2.7 million tonnes.
($1 = 5.2347 reais) (Reporting by Peter Frontini Editing by Chris Reese and Sandra Maler)