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“Sappi is a leading global provider of everyday materials made from woodfibre-based renewable resources. As a diversified, innovative and trusted leader focused on sustainable processes and products, we are building a more circular economy by making what we should, not just what we can.”
Our raw material offerings (such as dissolving pulp, wood pulp, biomaterials and timber) and end-use products (packaging and speciality papers, graphic papers, casting and release papers and forestry products) are manufactured from woodfibre sourced from sustainably managed forests and plantations, in production facilities powered, in many cases, with bio-energy from steam and existing waste streams.
Together with our partners, Sappi works to build a thriving world by acting boldly to support the planet, people and prosperity.
EBITDA excluding
special items
US$337 million
(Q2 FY21: US$112 million)
Net debt of
US$1,793 million
(Q2 FY21: US$2,070 million)
Profit for the period
US$188 million
(Q2 FY21: loss of
US$23 million)
EPS excluding
special items
35 US cents
(Q2 FY21: loss of
1 US cent)
Sales by source* (%)
Sales by product* (%)
Sales by destination* (%)
Net operating assets** (ex Corporate) (%)
* For the period ended March 2022.
** As at March 2022.
| Quarter ended | Half-year ended | |||||
| Mar 2022 |
Mar 2021 |
Dec 2021 |
Mar 2022 |
Mar 2021 |
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| Key figures: (US$ million) | ||||||
| Sales | 1,858 | 1,284 | 1,697 | 3,555 | 2,447 | |
| Operating profit excluding special items(1) | 259 | 31 | 161 | 420 | 47 | |
| Special items – loss (gain)(2) | 29 | 12 | (8) | 21 | 12 | |
| EBITDA excluding special items(1) | 337 | 112 | 240 | 577 | 210 | |
| Profit (Loss) for the period | 188 | (23) | 123 | 311 | (40) | |
| Basic earnings per share (US cents) | 33 | (4) | 22 | 55 | (7) | |
| EPS excluding special items (US cents)(3) | 35 | (1) | 20 | 55 | (2) | |
| Net debt(3) | 1,793 | 2,070 | 1,917 | 1,793 | 2,070 | |
| Key ratios: (%) | ||||||
| Operating profit (loss) excluding special items to sales | 13.9 | 2.4 | 9.5 | 11.8 | 1.9 | |
| Operating profit (loss) excluding special items to capital employed (ROCE)(3) | 25.8 | 3.2 | 16.5 | 20.9 | 2.5 | |
| EBITDA excluding special items to sales | 18.1 | 8.7 | 14.1 | 16.2 | 8.6 | |
| Net debt to EBITDA excluding special items | 2.0 | 6.5 | 2.8 | 2.0 | 6.5 | |
| Covenant leverage ratio(3) | 2.0 | 6.7 | 2.9 | 2.0 | 6.7 | |
| Interest cover(3) | 9.5 | 3.7 | 6.7 | 9.5 | 3.7 | |
| Net asset value per share (US cents)(3) | 417 | 345 | 353 | 417 | 345 | |
| (1) | Refer to note 2 to the group results for the reconciliation of EBITDA excluding special items and operating profit excluding special items to operating profit by segment and profit for the period. |
| (2) | Refer to note 2 to the group results for details on special items. |
| (3) | Refer to supplemental information for the definition of the term. |
Registration number: 1936/008963/06
JSE code: SAP
ISIN code: ZAE000006284
Issuer code: SAVVI
Sappi has a primary listing on the JSE Limited and a Level 1 ADR programme that trades in the over-the-counter market in the United States
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