Among the highlights were:
Financial summary for the second fiscal quarter to end March 2018
- EBITDA excluding special items US$211 million (Q2 2017 US$208 million).
- Profit for the period US$102 million (Q2 2017 US$88 million).
- EPS excluding special items 17 US cents (Q2 2017 17 US cents).
- Acquisition of Cham speciality paper business completed.
- Net debt US$1,632 million (Q2 2017 US$1,329 million).
“I am very satisfied with our performance for this quarter as reflected by increased sales, EBITDA and net profit. I’m particularly pleased that all regions were able to deliver higher sales volumes despite the short-term impact of the expansion and conversion projects. We faced higher raw material costs, in particular pulp, for our paper businesses but were able to increase selling prices to offset most of this impact. The acquisition of the Cham speciality paper business was completed during the quarter and the integration into Sappi is moving ahead smoothly.”
Steve Binnie, Chief Executive Officer, Sappi Limited
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