​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its financial results for Q3 FY19 ended June 2019 on Thursday, 01 August 2019 at 09:00 (South African time).

Financial summary for Q3 FY19 ended June 2019:

  • EBITDA excluding special items US$118 million (Q3 2018 US$155 million)
  • Profit for the period US$8 million (Q3 2018 US$51 million)
  • EPS excluding special items 4 US cents (Q3 2018 10 US cents)
  • Net debt US$1,728 million (Q3 2018 US$1,603 million)

Sappi results for third financial quarter ended June 2019

Commenting on the result, Sappi Limited Chief Executive Officer, Steve Binnie said: “Although our third quarter is traditionally lower due to northern hemisphere summer holidays, the results for the quarter were under pressure. We faced challenging market conditions across all our major product categories, but in particular from sluggish graphic paper demand in Europe and North America which necessitated production downtime and weak dissolving wood pulp (DWP) prices due to soft viscose staple fibre (VSF) markets. In addition, annual maintenance shuts which impact production and sales volumes were completed at Ngodwana, Saiccor and Cloquet Mills.”

“Notwithstanding a tough quarter, we continued to focus on executing our strategy to diversify our product portfolio into higher margin segments to position us for future growth. The recent projects to increase capacity at each of our DWP mills and convert capacity at Somerset and Maastricht Mills towards packaging boosted sales volumes in each of these segments during the quarter, thereby lessening the impact of particularly weak graphic paper markets.”

Looking towards the rest of the year, Binnie indicated that “Given the current weak market conditions for graphic paper, DWP pricing pressure from oversupplied VSF markets and global economic uncertainty related to trade wars, our fourth quarter profitability will likely be below that of the prior year.”

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

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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Robert V Rosenthal
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Boston, Massachusetts 02109
United States of America
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