Sappi Second quarter results for the period ended March 2021


for the period ended March 2021

Second 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 March 2021.
** As at March 2021.

Highlights for the quarter

EBITDA excluding
special items
US$112 million
(Q2 FY20: US$131 million)

EPS excluding
special items
–1 US cent
(Q2 FY20: 4 US cents)

Loss for the period
US$23 million
(Q2 FY20: profit of US$2 million)

Net debt of
US$2,070 million
(Q2 FY20: US$1,879 million)

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Commentary on the quarter

The steady recovery from the ongoing challenges of the Covid-19 pandemic continued during the second quarter. A strong packaging and specialities performance combined with solid results from dissolving pulp (DP) offset the weak demand and margin squeeze in graphic paper. Consequently, group EBITDA excluding special items of US$112 million was a further increase on the US$98 million achieved in the first quarter.

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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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