​Latest financial results

Sappi Limited (JSE: SAP, OTC: SPPJY) released its Q2 FY21 financial results for the period ended March 2021 on Thursday, 06 May 2021, at 09:00 South African time.

Financial summary for Q2 FY21 ended March 2021:

  • EBITDA excluding special items US$112 million (Q2 FY20 US$131 million)
  • Net debt US$2,070 million (Q2 FY20 US$1,879 million) 
  • Loss for the period US$23 million (Q2 FY20 Profit of US$2 million)
  • EPS excluding special items -1 US cent (Q2 FY20 4 US cents)

 

Sappi continues recovery in results for second financial quarter 2021

Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “I am pleased with the steady recovery from the ongoing challenges of the COVID-19 pandemic. EBITDA continued to improve quarter-on-quarter from a low of US$26m in our third quarter of 2020 through US$98m in the previous quarter to US$112 for the current quarter, with further improvement expected for our third quarter.”

He continued: “The North American and South African regions recorded strong improvements in profitability. This was in contrast to Europe where extended lockdowns and restrictions on economic activity hindered the performance. COVID-19 also severely affected global shipping and container availability, which impacted sales volumes in a number of product categories. Our comprehensive COVID-19 action plan is fully entrenched in all of our operations and employee safety remains a top priority. The rate of employee and contractor infections reduced significantly during the quarter across all regions and as a consequence, there was minimal impact on mill operations.”

Looking forward, Binnie stated: “Given the favourable market conditions for DP and packaging and speciality papers, offset partially by the weak graphic paper demand and global logistical challenges, we expect the third quarter EBITDA to improve relative to the second quarter. However, earnings in the European business will be lower due to rising pulp costs.”

You can download and view all of the latest financial results below, alongside our 2020 Annual Integrated Report.

Q2 FY21 financial results booklet (Interactive)
Click the link above to browse the interactive version of our Q2 FY21 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.
2020 Sappi Annual Integrated Report (Interactive)
Click the link above to browse the interactive version of our 2020 Sappi Annual Integrated Report.
In the short term, management’s focus turned to the preservation of liquidity, lowering costs and re-prioritising various strategic actions. Commercial downtime was taken across all segments as required, to match supply to demand and prevent the build-up of inventory. Additionally, non-critical projects were deferred, and some annual maintenance shuts were postponed for a short period.
Steve Binnie, Chief Executive Officer of Sappi Limited
Contact
Jörg Pässler
Group Head Investor Relations and Treasurer
Sappi Limited (Reg no 1936/008963/06)
Glaverbel Building
166 Chaussée de la Hulpe
Brussels, 1170
Belgium
Tel:
+32 (0)2 676 9621
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Read our 2020 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.