3. Seasonality

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Half-Year Report 2021

Half-Year Report 2021

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Half-Year Report 2021

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Half-Year Report 2021

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Interim condensed consolidated financial statements

Consolidated statement of profit or loss Consolidated statement of comprehensive income Consolidated statement of financial position Consolidated statement of changes in equity Condensed consolidated statement of cash flowsNotes to the interim condensed consolidated financial statements

1. Basis of presentation, consolidation and accounting policies 2. New or revised IFRS standards, amendments and interpretations 3. Seasonality 4. Financial information by segment 5. Increase of investment in MIL Energia Renovável Ltda.6. Subsequent events

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3. Seasonality

For the forestry operations in Brazil the first half of the year is characterized by the rainy season (January to May) during which no logs are harvested.