​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its financial results for Q4 and full FY18 to end September 2018 on Thursday, 15 November 2018 at 09:00 (South African time).

Financial summary for Q4 and full FY18 to end September 2018:

  • EBITDA excluding special items
    • For the quarter US$224 million (Q4 FY17 US$221 million)
    • For the year US$762 million (FY17 US$785 million)
  • Profit for the period
    • For the quarter US$107 million (Q4 FY17 US$102 million)
    • For the year US$323 million (FY17 US$338 million)
  • EPS excluding special items
    • For the quarter 19 US cents (Q4 FY17 19 US cents)
    • For the year 60 US cents (FY17 64 US cents)
  • Net debt US$1,568 million (FY17 US$1,322 million) 
  • Dividend of 17 US cents declared (FY17 15 US cents)

 

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.”

Reflecting on the fourth quarter, Binnie indicated: “We delivered increased earnings having resolved the third quarter production challenges and benefited from higher graphic paper prices and stable demand across most product categories. To further build and strengthen our market leading position, during the quarter we launched the Verve brand as the umbrella brand for our DWP products, emphasising Sappi’s commitment to producing a natural fibre sourced from sustainably managed forests.”

Binnie confirmed that: “Strong market demand for dissolving wood pulp (DWP) and speciality and packaging papers ensured our production capacity in these grades was fully utilised, further supporting our decision to invest in additional capacity in these business segments. We were also able to reduce net finance costs by 15% due to lower average debt levels during the year.

I am also pleased that we have been able to declare an increased dividend of 17 US cents.”

Turning to the next quarter, Binnie stated: “Having completed the significant projects in 2018 to convert paper machines to higher margin and growing packaging grades, in addition to the debottlenecking of both Saiccor and Ngodwana Mills, we expect EBITDA in the first quarter of financial year 2019, given current exchange rates, to be comfortably higher than that of 2018.”

You can download and view all of the latest financial results below, alongside our 2017 Annual Integrated Report.

Q4 FY18 Financial results booklet (Interactive)
Click the link above to browse the interactive version of our Q4 FY18 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.
2017 interactive Annual Integrated Report
Click on the heading to browse our 2017 interactive Annual Integrated Report.
Each of our regions improved its operating performance and cash generation exceeded our own goals, as a result, we now have greater flexibility to increase investments in strategic growth.
Steve Binnie, Chief Executive Officer, Sappi Limited
Contact
Robert V Rosenthal
Investor Relations Manager
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Boston, Massachusetts 02109
United States of America
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+1 617 423 5413
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+1 617 423 5494
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View Sappi’s quarterly financial statements, formatted as webcasts, presentations, booklets and debt updates.

Read our 2017 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.