Third quarter results
for the period ended June 2022


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Third quarter
Financial results conference call

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THIRD
QUARTER RESULTS
for the period ended June 2022

“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.”

“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.

Highlights for the quarter

EBITDA excluding special items
US$371 million
Q3 FY21: US$145 million

Net debt of
US$1,530 million
Q3 FY21: US$2,055 million

Profit for the period
US$199 million
Q3 FY21: profit of US$18 million

EPS excluding special items
39 US cents
Q3 FY21: profit of 5 US cents


Sales by source* (%)

Sales by product* (%)


Sales by destination* (%)

Net operating assets** (ex Corporate) (%)


* For the period ended June 2022.

** As at June 2022.

  Quarter ended Nine months ended
    Jun
2022
Jun
2021
Mar
2022
Jun
2022
Jun
2021
Key figures: (US$ million)  
Sales   1,818 1,393 1,858 5,373 3,840
Operating profit (loss) excluding special items(1)   300 64 259 720 111
Special items – loss (gain)(2)   34 11 29 55 23
EBITDA excluding special items(1)   371 145 337 948 355
Profit (Loss) for the period   199 18 188 510 (22)
Basic earnings per share (US cents)   35 3 33 91 (4)
EPS excluding special items (US cents)(3)   39 5 35 94 3
Net debt(3)   1,530 2,055 1,793 1,530 2,055
Key ratios: (%)  
Operating profit (loss) excluding special items to sales   16.5 4.6 13.9 13.4 2.9
Operating profit (loss) excluding special items to capital employed (ROCE)(3)   29.8 6.4 25.8 24.5 3.9
EBITDA excluding special items to sales   20.4 10.4 18.1 17.6 9.2
Net debt to EBITDA excluding special items   1.4 4.7 2.0 1.4 4.7
Covenant leverage ratio(3)   1.4 4.7 2.0 1.4 4.7
Interest cover(3)   12.2 4.8 9.5 12.2 4.8
Net asset value per share (US cents)(3)   421 362 417 421 362
(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.

Corporate information

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

South Africa
Computershare Investor Services (Pty) Ltd
Rosebank Towers
15 Biermann Avenue
Rosebank 2196
South Africa

Private Bag X9000
Saxonwold, 2132
South Africa

www.computershare.com

JSE Sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)

United States ADR Depositary
The Bank of New York Mellon
Investor Relations
PO Box 11258
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