​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its Q1 FY21 financial results for the period ended December 2020 on Wednesday, 03 February 2021, at 08:00 South African time.

Financial summary for Q1 FY21 ended December 2020:

  • EBITDA excluding special items US$98 million (Q1 FY20 US$139 million)
  • Net debt US$2,056 million (Q1 FY20 US$1,916 million)
  • Loss for the period US$17 million (Q1 FY20 Profit of US$24 million)
  • EPS excluding special items -1 US cent (Q1 FY20 6 US cents)

 

Sappi shows a recovery in results for first financial quarter 2021

Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “I am pleased with the continued recovery in our results over the past nine months. EBITDA improved progressively from a low of US$26m in our third quarter of 2020 due to the impact of COVID-19 to US$98m for the first quarter of our 2021 financial year. I am confident that our recovery is on track despite the ongoing negative affect from COVID-19.”

He continued: “As a group we outperformed the guidance provided at the end of the last quarter with profitability across all reporting segments exceeding expectations. During the quarter, the global surge of COVID-19 infections and the related employee absenteeism put all of our operations under pressure. In spite of the unprecedented obstacles that have arisen as a result of the pandemic and through the dedication and resilience of our workforce, our mills remained fully operational.”

Looking forward, Binnie stated: “Despite the ongoing impact of COVID-19, we expect profitability in the second quarter to improve relative to the first quarter. Ensuring the safety of our employees and supporting our customers and communities is a priority and our comprehensive COVID-19 action plan remains relevant and in place.”

You can download and view all of the latest financial results below, alongside our 2020 Annual Integrated Report.

Q1 FY21 financial results booklet (Interactive)
Click the link above to browse the interactive version of our Q1 FY21 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.
2020 Sappi Annual Integrated Report (Interactive)
Click the link above to browse the interactive version of our 2020 Sappi Annual Integrated Report.
In the short term, management’s focus turned to the preservation of liquidity, lowering costs and re-prioritising various strategic actions. Commercial downtime was taken across all segments as required, to match supply to demand and prevent the build-up of inventory. Additionally, non-critical projects were deferred, and some annual maintenance shuts were postponed for a short period.
Steve Binnie, Chief Executive Officer of Sappi Limited
Contact
Jörg Pässler
Group Head Investor Relations and Treasurer
Sappi Limited (Reg no 1936/008963/06)
Glaverbel Building
166 Chaussée de la Hulpe
Brussels, 1170
Belgium
Tel:
+32 (0)2 676 9621
Fax:
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Read our 2020 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.