News and Events Listing

Company recognized again for top-standard sustainability efforts, scoring in the top 1% of companies evaluated.

Sappi Limited today announced the completion and final terms of an offering of senior, unsecured, convertible unlisted registered bonds due in 2025 with an aggregate principal amount of ZAR1,800,000,000 by Sappi Southern Africa Limited (Sappi Southern Africa).

Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “The group’s performance over the past year was severely impacted by the Covid-19 pandemic, the related government lockdowns and the ensuing economic after-effects. While the first half of the year was satisfactory given that we started the year with dissolving pulp prices at historic lows, the third quarter saw the full impact of Covid-19 before a gradual recovery began in the fourth quarter, in particular for Dissolving Pulp (DP). The improvement is further evidenced by the quarter-on-quarter improvement in EBITDA from US$26 million to US$82 million.”

The decrease in consumption caused by the Covid-19 pandemic has triggered strong pressure on prices. In combination with cost increases in paper production and transport this has led to unsustainable profitability levels, especially felt in our overseas markets.