Financial summary for Q4 and full FY24 ended September 2024:
- Adjusted EBITDA*
- For the quarter US$226 million (Q4 FY23 US$168 million)
- For the year US$684 million (FY23 US$731 million)
- Profit for the period
- Profit for the quarter US$79 million (Q4 FY23 loss US$40 million)
- Profit for the year US$33 million (FY23 US$259 million)
- Adjusted EPS**
- For the quarter 15 US cents (Q4 FY23 6 US cents)
- For the year 41 US cents (FY23 52 US cents)
- Net debt US$1,422 million (FY23 US$1,085 million)
- Dividend 14 US cents per share (FY23 15 US cents per share)
* Adjusted EBITDA excludes special items and plantation fair value price adjustment.
** Adjusted EPS excludes special items and plantation fair value price adjustment.
Sappi financial results for fourth quarter and full year exceeds expectations; dividend declared
Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “Following a strong last quarter, I am pleased we were able to exceed our expectations for the year with Adjusted EBITDA* of US$684 million for the year ended September 2024. Our strong performance occurred against the backdrop of the subdued macroeconomic environment, ongoing low consumer confidence, and persistent geopolitical uncertainty.
A key highlight was the pulp segment’s strong performance, driving record profitability for the South African region. However, paper markets remained subdued, with the expected recovery in demand after the prolonged destocking phase of 2023 unfolding slower than anticipated. Significant fixed costs savings were achieved through our strategic rationalisation actions.”
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