​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its Q2 FY22 financial results for the period ended March 2022 on Thursday, 12 May 2022, at 09:00 South African time.

Financial summary for Q2 FY22 ended March 2022:

  • EBITDA excluding special items US$337 million (Q2 FY21 US$112 million)
  • Net debt of US$1,793 million (Q2 FY21 US$2,070 million)
  • Profit for the period US$188 million (Q2 FY21 loss of US$23 million)
  • EPS excluding special items 35 US cents (Q2 FY21 loss of 1 US cents)

 

Sappi delivered excellent results during the second financial quarter 2022

Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “I am very proud of the excellent performance during the quarter particularly in light of the impact of Covid-19 in the last two years and the global economic turmoil. Tight global paper markets were the principal factor behind the quarter’s success and enabled the implementation of higher selling prices which offset extraordinary cost inflation. The Russian-Ukrainian conflict triggered renewed volatility in global commodity markets and further disrupted already constrained global supply chains, which intensified cost inflation across all regions and all product segments.

Despite these headwinds we were able to improve EBITDA by 40% on the prior quarter from US$240 million to US$337 million and three-fold over the equivalent quarter in 2021. Net debt was reduced to US$1,793 million (from US$2,070 million a year ago) and earnings per share excluding special items for the quarter was 35 US cents, a further improvement on the 20 US cents in the prior quarter, providing further evidence of the steadily improving profitability of the group.”

Looking forward, Binnie stated: “In light of the favourable operating environment, the group is in a strong position to maintain the recent momentum and the underlying EBITDA for the third quarter should be consistent with that of the second quarter subject to the impacts of the annual maintenance shuts.”

You can download and view all of the latest financial results below, alongside our 2021 Annual Integrated Report.

 

Q2 FY22 financial results booklet (Interactive)
Click the link above to browse the interactive version of our Q2 FY22 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.
2021 Sappi Annual Integrated Report (Interactive)
Click the link above to browse the interactive version of our 2021 Sappi Annual Integrated Report.
A steadfast focus on operational excellence and innovative problem solving underpinned our FY21 strategic objective to return the business to profitability.
Steve Binnie, Chief Executive Officer of Sappi Limited
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
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Read our 2021 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.