|Browse our interactive Q3 FY20 financial results booklet here.|
|Browse our interactive 2019 Sappi Annual Integrated Report here.|
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/ Sappi Limited (JSE: SAP, OTC: SPPJY) will release its Q4 FY20 and full-year financial results for the period ended September 2020 on Thursday, 05 November 2020, at 09:00 South African time.
/ Commenting on the quarter’s result, Sappi Limited Chief Executive Officer, Steve Binnie said: “The overall economic effect of the Covid-19 pandemic and related lockdowns, changes in consumer behaviour and logistical challenges had a severe impact on the business in the quarter. Previously weak graphic paper and dissolving pulp (DP) markets were further affected by significant declines in demand and lower sales prices. Our packaging and specialities business increased sales volumes during the quarter and has proven resilient in the current difficult economic circumstances. This segment continues to support our strategy to diversify the group’s product portfolio into higher margin and growing segments.”
/ Commenting on the quarter’s result, Binnie said: “I am very pleased with the strong packaging and specialities performance which saw EBITDA contribution almost double. I am also pleased with the solid results in the graphics paper segment, as well as the significant increase in market share across both segments. Despite these strong performances, the results were negatively impacted due to the historic low dissolving pulp (DP) prices, and reduced DP sales volumes.”
/ Commenting on the result, Sappi Chief Executive Officer Steve Binnie said: “A good performance from the European and North American packaging and specialities segment and satisfactory results from the graphic paper businesses were not enough to offset the significant impact from the unprecedented and markedly lower dissolving pulp (DP) prices."