|Browse our interactive Q1 FY19 financial results booklet here.|
|Browse our interactive 2018 Sappi Annual Integrated Report here.|
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/ Sappi Limited (JSE: SAP, OTC: SPPJY) released its Q1 FY19 financial results for the period to end December 2018 on Wednesday, 06 February 2019 at 08:00 South African time.
/ Commenting on the result, Sappi Chief Executive Officer Steve Binnie said: “In a difficult operating climate, the resilience of the business and the benefits from the diversification of the product portfolio in recent years were emphasised during the quarter. Profitability was in line with our guidance at the end of the 2018 financial year.”
/ Commenting on the results, Sappi Chief Executive Officer Steve Binnie said: “I am very satisfied that we have delivered results for the year in line with that of the prior year, notwithstanding the downtime related to the completion of several large strategic growth projects. These projects facilitated a further shift in the product mix of the group towards higher margin and growth segments.”
/ Sappi Chief Executive Officer Steve Binnie, commenting on the group’s performance, said: “Our third quarter operating performance was in line with previous guidance with earnings (EBITDA ex special items) flat at US$155 million compared to a year ago. The third quarter is seasonally and historically our weakest quarter due to the slow-down in business activity during the Northern Hemisphere summer holiday period and Sappi’s choice to use this quarter to undertake major annual maintenance shuts. A strong performance by our European operations was offset by a number of once-off operational and production issues in our South African and North American businesses.”