​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its Q4 and full FY22 financial results for the period ended September 2022 on Thursday, 10 November 2022, at 09:00 South African time.

Financial summary for Q4 and full FY22 ended September 2022:

  • EBITDA excluding special items
    • For the quarter US$391 million (Q4 FY21 US$177 million)
    • For the year US$1,339 million (FY21 US$532 million)
  • Profit for the period
    • For the quarter US$26 million (Q4 FY21 US$35 million)
    • For the year US$536 million (FY21 US$13 million)
  • EPS excluding special items
    • For the quarter 44 US cents (Q4 FY21 11 US cents)
    • For the year 138 US cents (FY21 15 US cents)
  • Net debt US$1,163 million (FY21 US$1,946 million)
  • Resumption of dividend 15 US cents per share

 

Sappi announces record earnings and resumes dividend payment; releases financial results for fourth quarter and full year

Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said, “I am very pleased with Sappi’s exceptional performance this past year. Once again, the dedication and resilience of the Sappi team shone through, this year delivering EBITDA of US$1,339 million, well above the previous record set in FY2000 (US$1,052 million). The outstanding performance was particularly noteworthy within the context of a challenging macroeconomic environment. Significant headwinds included extreme weather-related events, lingering Covid pandemic effects in China as well as extraordinary global inflation, which was triggered by geopolitical turmoil and ongoing global supply chain disruptions. Amidst this volatility, we demonstrated adaptability and persistence and remained committed to our Thrive25 strategy.”

Looking forward, Binnie stated, “Deleveraging of our balance sheet has been material and combined with substantial cash reserves we are well positioned to navigate any market downturn. We remain encouraged by the increasing resilience of our business and opportunities for growth in our packaging and speciality papers segment. Notwithstanding the inflationary cost pressures and weakening demand in some product segments, we anticipate that the EBITDA for the first quarter of FY2023 will be above that of the equivalent quarter in FY2022.”

You can download and view all of the latest financial results below, alongside our 2021 Annual Integrated Report.

 

2021 Sappi Annual Integrated Report (Interactive)
Click the link above to browse the interactive version of our 2021 Sappi Annual Integrated Report.
A steadfast focus on operational excellence and innovative problem solving underpinned our FY21 strategic objective to return the business to profitability.
Steve Binnie, Chief Executive Officer of Sappi Limited
Contact
Tracy Wessels
Group Head Investor Relations and Sustainability
Sappi Limited (Reg no 1936/008963/06)
108 Oxford Road
Rosebank
Johannesburg, 2196
South Africa
Tel:
+27 (0)11 407 8391
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Read our 2021 annual reports to find out about a year in which management’s focus turned to the preservation of liquidity, lowering costs and re-prioritising various strategic actions.
View Sappi’s quarterly financial statements, formatted as webcasts, presentations, booklets and debt updates.

Sappi makes regular filings to the US Securities and Exchange Commission, all of which can be found in this feed.