​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its results for the second fiscal quarter ended March 2017 on Monday, 15 May 2017 at 09:00 (South African time).

Among the highlights were:

Financial summary for the quarter and half-year

  • EBITDA excluding special items:
    - For the quarter US$208 million (2016 US$195 million)
    - For the half-year US$409 million (2016 US$370 million)
  • EPS excluding special items:
    - For the quarter 17 US cents (2016 16 US cents)
    - For the half-year 33 US cents (2016 29 US cents)
  • Profit for the period:
    - For the quarter US$88 million (2016 US$100 million)
    - For the half-year US$178 million (2016 US$175 million)
  • Net debt US$1,329 million, down US$323 million year-on-year 
     
  • Projects to increase capacity of speciality packaging in Europe and North America are progressing as planned.
  • Imminent opening of a second-generation pilot plant for sugar extraction at our Ngodwana Mill in South Africa. 
  • Strong demand and favourable pricing for dissolving wood pulp (DWP).
  • Strong sales growth and profit margins for the speciality packaging and casting and release paper businesses in Europe and the USA.
  • Containerboard and newsprint sales in Southern Africa were particularly healthy.
  • Strong cash generation supported our debt reduction programme.

You can download and view all of the latest results below, alongside our annual report for 2016.

Conference call dial-in details
Find dial-in numbers and registration link for the conference call hosted by our CEO, Steve Binnie.
I am pleased to report that Sappi continues to deliver solid results on the back of our strategic shift to place more emphasis on dissolving pulp and speciality packaging. Coupled with strong cash generation and cost management initiatives to reduce variable costs we are well positioned to achieve our 2020 targets.
Steve Binnie, Chief Executive Officer, Sappi Limited
Contact – Head Office
Graeme Wild
Group Head IR and Sustainability
48 Ameshoff Street
Braamfontein 2001
South Africa
Tel:
+27 (0)11 407 8111
Fax:
+27 (0)11 403 1493
Tel:
Fax:
Contact – North America
Robert V Rosenthal
Investor Relations Manager
255 State Street
Boston, Massachusetts 02109
United States of America
Tel:
+1 617 423 5413
Fax:
+1 617 423 5494
Tel:
Fax:

View Sappi’s quarterly financial statements, formatted as webcasts, presentations, booklets and debt updates.

Read our 2016 annual reports to find out about a year that delivered significantly increased earnings for Sappi.

Sappi makes regular filings to the US Securities and Exchange Commission, all of which can be found in this feed.