Sales by product* (%)
Sales by destination* (%)
Sales by source* (%)
Net operating assets** (ex corporate) (%)
* For the period ended September 2025.
** As at September 2025.
“Sappi uses renewable resources to make woodfibre-based products. We are a diversified, innovative and trusted leader focused on sustainable processes and products.”
Our packaging papers, graphic papers, pulp and biomaterials are manufactured from woodfibre sourced from sustainably managed forests, in production facilities which, in many cases use internally generated bio-energy. Many of our operations are self-sufficient.
Together with our partners, Sappi works to build a thriving world by acting boldly to support the planet, people and prosperity.
Adjusted EBITDA(1)
(FY24: US$684 million)
Loss for the period
(FY24: profit US$33 million)
Adjusted EPS(2)
(FY24: 41 US cents)
Net debt of
(FY24: US$1,422 million)
Adjusted EBITDA(1)
(Q4 FY24: US$226 million)
Loss for the period
(Q4 FY24: profit US$79 million)
Adjusted EPS(2)
(Q4 FY24: 15 US cents profit)
(1) Adjusted EBITDA is EBITDA excluding special items and plantation fair value price adjustment.
(2) Adjusted EPS is EPS excluding special items and plantation fair value price adjustment.
| Quarter ended | Year ended | ||||
| Sept 2025 |
Sept 2024 |
Jun 2025 |
Sept 2025 |
Sept 2024 |
|
| Key figures (US$ million) | |||||
| Revenue | 1,389 | 1,464 | 1,321 | 5,420 | 5,458 |
| Operating profit (loss) excluding special items(1) | 30 | 120 | (5) | 176 | 407 |
| Special items – loss (gain)(2) | 140 | (3) | 2 | 170 | 225 |
| Adjusted EBITDA(3) | 111 | 226 | 80 | 501 | 684 |
| EBITDA excluding special items(1) | 116 | 195 | 71 | 479 | 685 |
| Profit (Loss) for the period | (194) | 79 | (33) | (177) | 33 |
| Basic earnings (loss) per share (US cents) | (32) | 13 | (5) | (29) | 6 |
| Adjusted EPS (loss) (US cents)(3) | (3) | 15 | (4) | 8 | 41 |
| Net debt(3) | 1,920 | 1,422 | 1,947 | 1,920 | 1,422 |
| Key ratios (%) | |||||
| Operating profit (loss) excluding special items to revenue | 2.2 | 8.2 | (0.4) | 3.2 | 7.5 |
| Operating profit (loss) excluding special items to capital employed (ROCE)(3) | 2.8 | 12.4 | (0.5) | 4.3 | 10.8 |
| Adjusted EBITDA to revenue(3) | 8.0 | 15.4 | 6.1 | 9.2 | 12.5 |
| EBITDA excluding special items to revenue | 8.4 | 13.3 | 5.4 | 8.8 | 12.6 |
| Net debt to EBITDA excluding special items | 4.0 | 2.1 | 3.5 | 4.0 | 2.1 |
| Covenant leverage ratio(3) | 3.6 | 2.0 | 2.9 | 3.6 | 2.0 |
| Interest cover(3) | 6.1 | 10.9 | 7.6 | 6.1 | 10.9 |
| Net asset value per share (US cents)(3) | 382 | 430 | 406 | 382 | 430 |
(1) Refer to note 2 to the group results for the reconciliation of Adjusted EBITDA, 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 destination* (%)
Sales by source* (%)
Net operating assets** (ex corporate) (%)
* For the period ended September 2025.
** As at September 2025.