for the period ended September 2023

Fourth 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 Year ended
Key figures (US$ million)            
Sales   1,381 1,923 1,326 5,809 7,296
Operating profit (loss) excluding special items(1)   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   (40) 26 40 259 536
Basic earnings per share (US cents)   (7) 5 7 46 95
EPS excluding special items (US cents)(3)   6 44 5 52 138
Net debt(3)   1,085 1,163 1,176 1,085 1,163
Key ratios (%)            
Operating profit (loss) excluding special items to sales   4.7 16.5 3.1 7.4 14.2
Operating profit (loss) excluding special items to capital employed (ROCE)(3)   7.2 34.4 4.4 12.3 27.9
EBITDA excluding special items to sales   12.2 20.3 8.0 12.6 18.4
Net debt to EBITDA excluding special items   1.5 0.9 1.2 1.5 0.9
Covenant leverage ratio(3)   1.4 0.9 1.2 1.4 0.9
Interest cover(3)   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.

Highlights for the year

EBITDA excluding
special items

US$731 million
(FY22: US$1,339 million)

Profit for the period

US$259 million
(FY22: US$536 million)

EPS excluding
special items

52 US cents
(FY22: 138 US cents)

Net debt of

US$1,085 million
(FY22: US$1,163 million)


15 US cents per share
(FY22: 15 US cents)

Highlights for the quarter

EBITDA excluding
special items

US$168 million
(Q4 FY22: US$391 million)

Loss for the period

US$40 million
(Q4 FY22: profit US$26 million)

EPS excluding special items

6 US cents
(Q4 FY22: 44 US cents)





* For the period ended September 2023.

** As at September 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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