​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its Q3 FY24 financial results for the period ended June 2024 on Thursday, 08 August 2024, at 08:00 South African time.

Financial summary for Q3 FY24 ended June 2024:

  • EBITDA excluding special items, up over 40% to US$151 million (Q3 FY23 US$106 million)
  • Profit for the period is up over 25% to US$51 million (Q3 FY23 US$40 million)
  • EPS excluding special items is up by 4c to 9 US cents (Q3 FY23 5 US cents)
  • Net debt of US$1,340 million (Q3 FY23 US$1,176 million)

Sappi announces results for the third financial quarter 2024

Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “I am pleased the Group delivered EBITDA (earnings) more than 40% above the prior year at US$151 million. Despite the third quarter being a seasonally slower period for our business, and the sluggish global economy, our results were in line with our guidance. Underlying profitability, excluding a US$30 million impact from scheduled maintenance shuts at Saiccor and Somerset Mills, remained steady quarter-on-quarter. This is a pleasing performance driven by sustained strong market conditions in the pulp segment, offset somewhat by a muted recovery in paper markets.”

Looking forward, Binnie stated: “Global macroeconomic conditions and consumer sentiment are slowly improving but a high level of uncertainty still exists, which is exacerbated by ongoing logistical challenges. Thanks to our very competitive dissolving pulp business, and our strategic focus on growing the packaging and speciality paper segment, Sappi remains well positioned to benefit from a global economic rebound. Notwithstanding the modest recovery in global macroeconomic conditions, and taking into consideration the impact of rising costs, we anticipate that EBITDA (excluding plantation fair value price adjustment) for the fourth quarter of FY24 will be above that of the equivalent quarter in the prior year.”

You can download and view all of the latest financial results below, alongside our 2023 Annual Integrated Report.

 

Q3 FY24 financial results booklet (Interactive)
Click the link above to browse the interactive version of our Q3 FY24 financial results booklet.
Conference call dial-in details
Find dial-in numbers and registration link for the conference call hosted by our CEO, Steve Binnie.
2023 Sappi Annual Integrated Report (Interactive)
Click the link above to browse the interactive version of our 2023 Sappi Annual Integrated Report.
Deleveraging of our balance sheet has been material and combined with substantial cash reserves we are well positioned to navigate any market challenges in the coming year.
Steve Binnie, Chief Executive Officer of Sappi Limited

Sappi annual financial reports (Last five years)

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2023
 

2022
 

2021
 

2020
 

2019
 

Sappi Annual Integrated Report
 
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Sappi interactive Annual Integrated Report
 
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Sappi Group Annual Financial Statements
 
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Sappi Limited Company Annual Financial Statements
 
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Sappi Risk Report
 
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Sappi King IV Application Register
 
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Sappi Our leadership and executive management
 
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Sappi TCFD Report
 
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Sappi Notice to shareholders
 
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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
Fax:
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Read our 2023 annual reports to find out about a year in which we made significant progress against the first phase of the Thrive strategy to deleverage the business.
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.