​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its financial results for Q2 FY19 ended March 2019 on Thursday, 09 May 2019 at 09:00 (South African time).

Financial summary for Q2 FY19 ended March 2019:

  • EBITDA excluding special items US$187 million (Q2 FY18 US$211 million)
  • Profit for the period US$72 million (Q2 FY18 US$102 million)
  • EPS excluding special items 13 US cents (Q2 FY18 17 US cents)
  • Net debt US$1,680 million (Q2 FY18 US$1,632 million)

Sappi results for second financial quarter ended March 2019

Commenting on the result, Sappi Limited Chief Executive Officer Steve Binnie said: “The business continued to be supported by the investments made in recent years to diversify the product portfolio with packaging and specialities sales volumes for the group up 18% and dissolving wood pulp (DWP) increasing by 16% year-on-year. However, graphic paper markets were much weaker than expected due to an economic slowdown and the impact from selling prices implemented last year. Demand from our major DWP customers remained healthy. Solid containerboard demand and a recovery of consumer packaging were offset by continued weakness in the self-adhesives and release paper segments.”

Looking towards the rest of the year, Binnie indicated that “in support of our transition to growing and higher margin segments, capital expenditure for the remainder of 2019 is expected to be approximately US$370 million. The major projects included are the recently completed pulp mill debottlecking at Cloquet as well as the ongoing 110kt Saiccor Mill expansion and Lanaken Mill PM8 conversion from coated mechanical to coated woodfree paper production projects.”

He concluded by saying that “Given the current weak market conditions for graphic paper, DWP pricing pressure from oversupplied VSF markets and our more conservative outlook on the global economy, the second half and full year profitability are now expected to be below that of last year.”

You can download and view all of the latest financial results below, alongside our 2018 Annual Integrated Report.

Q2 FY19 Financial results booklet (Interactive)
Click the link above to browse the interactive version of our Q2 FY19 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.
2018 Sappi Annual Integrated Report (Interactive)
Click the link above to browse the interactive version of our 2018 Sappi Annual Integrated Report.
We believe that our leading position in the dissolving wood pulp (DWP) market offers us exciting growth prospects into the future.
Steve Binnie, Chief Executive Officer of Sappi Limited
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United States of America
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View Sappi’s quarterly financial statements, formatted as webcasts, presentations, booklets and debt updates.
Read our 2018 annual reports to find out about a year in which we have made good progress towards improving profitability, cash generation and growth.

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