for the period ended June 2023

Third quarter
financial results conference call

(1) Use this option to ask questions and participate in an interactive session.
(2) Use this option to listen to results presentation, no ability to ask questions.

“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 papers, 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.

  Quarter ended Nine months ended
    Jun 2023 Jun 2022 Mar 2023 Jun 2023 Jun 2022
Key figures (US$ million)            
Sales   1,326 1,818 1,442 4,428 5,373
Operating profit (loss) excluding special items(1)   41 300 101 367 720
Special items – loss (gain)(2)   (15) 34 (7) (28) 55
EBITDA excluding special items(1)   106 371 167 563 948
Profit (Loss) for the period   40 199 69 299 510
Basic earnings per share (US cents)   7 35 12 53 91
EPS excluding special items (US cents)(3)   5 39 11 46 94
Net debt(3)   1,176 1,530 1,225 1,176 1,530
Key ratios (%)            
Operating profit (loss) excluding special items to sales   3.1 16.5 7.0 8.3 13.4
Operating profit (loss) excluding special items to capital employed (ROCE)(3)   4.4 29.8 11.0 13.6 24.5
EBITDA excluding special items to sales   8.0 20.4 11.6 12.7 17.6
Net debt to EBITDA excluding special items   1.2 1.4 1.0 1.2 1.4
Covenant leverage ratio(3)   1.2 1.4 0.9 1.2 1.4
Interest cover(3)   9.6 12.2 13.4 9.6 12.2
Net asset value per share (US cents)(3)   446 421 447 446 421
(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.

Highlights for the quarter

EBITDA excluding special items
US$106 million
(Q3 FY22: US$371 million)

Net debt of
US$1,176 million
(Q3 FY22: US$1,530 million)

Profit for the period
US$40 million
(Q3 FY22: US$199 million)

EPS excluding special items
5 US cents
(Q3 FY22: 39 US cents)





* For the period ended June 2023.

** As at June 2023.

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

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