THIRD
QUARTER
RESULTS
for the period ended June 2023
Third quarter
financial results conference call
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| (2) |
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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 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.
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Quarter ended |
Nine months ended |
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Jun 2023 |
Jun 2022 |
Mar 2023 |
Jun 2023 |
Jun 2022 |
| Key figures (US$ million) |
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| Sales |
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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 (%) |
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| Operating profit (loss) excluding special items to sales |
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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 |
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1.2 |
1.4 |
1.0 |
1.2 |
1.4 |
| Covenant leverage ratio(3) |
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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. |
SALES BY PRODUCT* (%)
SALES BY SOURCE* (%)
SALES BY DESTINATION* (%)
NET OPERATING ASSETS** (EX CORPORATE) (%)
* 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
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
Church Street Station
New York, NY 10286-1258
Tel +1 610 382 7836
