FOURTH
QUARTER
RESULTS
for the period ended September 2023
Fourth 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 |
Year ended |
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Sep
2023 |
Sep
2022 |
Jun
2023 |
Sep
2023 |
Sep
2022 |
| Key figures (US$ million) |
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| Sales |
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1,381 |
1,923 |
1,326 |
5,809 |
7,296 |
| Operating profit (loss) excluding special
items(1) |
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65 |
318 |
41 |
432 |
1,038 |
| Special items – loss (gain)(2) |
|
80 |
213 |
(15) |
52 |
268 |
| EBITDA excluding special items(1) |
|
168 |
391 |
106 |
731 |
1,339 |
| Profit (Loss) for the period |
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(40) |
26 |
40 |
259 |
536 |
| Basic earnings per share (US cents) |
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(7) |
5 |
7 |
46 |
95 |
| EPS excluding special items (US cents)(3) |
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6 |
44 |
5 |
52 |
138 |
| Net debt(3) |
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1,085 |
1,163 |
1,176 |
1,085 |
1,163 |
| Key ratios (%) |
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| Operating profit (loss) excluding special items to sales |
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4.7 |
16.5 |
3.1 |
7.4 |
14.2 |
| Operating profit (loss) excluding special
items to capital employed (ROCE)(3) |
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7.2 |
34.4 |
4.4 |
12.3 |
27.9 |
| EBITDA excluding special items to sales |
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12.2 |
20.3 |
8.0 |
12.6 |
18.4 |
| Net debt to EBITDA excluding special items |
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1.5 |
0.9 |
1.2 |
1.5 |
0.9 |
| Covenant leverage ratio(3) |
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1.4 |
0.9 |
1.2 |
1.4 |
0.9 |
| Interest cover(3) |
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6.4 |
15.6 |
9.6 |
6.4 |
15.6 |
| Net asset value per share (US cents)(3) |
|
438 |
417 |
446 |
438 |
417 |
| (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. |
