Sappi First quarter results for the period ended December 2020


First
quarter
results

for the period ended December 2020

First quarter
Financial results conference call

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Sappi is a leading global provider of powerful everyday materials made from woodfibre-based renewable resources. Together with our partners, we are quickly moving toward a more circular economy.”

Our raw material offerings (such as dissolving pulp, wood pulp and biomaterials) and end-use products (packaging and specialities 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. Many of our operations are energy self-sufficient.

Sappi works to build a thriving world by acting boldly to support the planet, people and prosperity.

Sales by source* (%)

Sales by destination* (%)

Sales by product* (%)

Net operating assets** (%)


*  For the period ended December 2020.
** As at December 2020.

Highlights for the quarter

EBITDA excluding
special items
US$98 million
(Q1 FY20: US$139 million)

EPS excluding
special items
-1 US cent
(Q1 FY20: 6 US cents)

Loss for the
period
US$17 million
(Q1 FY20: profit of US$24 million)

Net debt of
US$2,056 million
(Q1 FY20: US$1,916 million)


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Commentary on the quarter

Despite the ongoing challenges of the Covid-19 pandemic (“Covid”), the group outperformed the guidance for EBITDA provided at the end of the last quarter as the profitability in all reporting segments exceeded expectations. EBITDA excluding special items for the quarter increased to US$98 million compared to US$82 million for the previous quarter. The improvement was due mainly to dissolving pulp (“DP”) markets and graphic paper demand in North America recovering at a faster rate than anticipated.

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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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