Financial summary for Q4 and full FY22 ended September 2022:
- EBITDA excluding special items
- For the quarter US$391 million (Q4 FY21 US$177 million)
- For the year US$1,339 million (FY21 US$532 million)
- Profit for the period
- For the quarter US$26 million (Q4 FY21 US$35 million)
- For the year US$536 million (FY21 US$13 million)
- EPS excluding special items
- For the quarter 44 US cents (Q4 FY21 11 US cents)
- For the year 138 US cents (FY21 15 US cents)
- Net debt US$1,163 million (FY21 US$1,946 million)
- Resumption of dividend 15 US cents per share
Sappi announces record earnings and resumes dividend payment; releases financial results for fourth quarter and full year
Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said, “I am very pleased with Sappi’s exceptional performance this past year. Once again, the dedication and resilience of the Sappi team shone through, this year delivering EBITDA of US$1,339 million, well above the previous record set in FY2000 (US$1,052 million). The outstanding performance was particularly noteworthy within the context of a challenging macroeconomic environment. Significant headwinds included extreme weather-related events, lingering Covid pandemic effects in China as well as extraordinary global inflation, which was triggered by geopolitical turmoil and ongoing global supply chain disruptions. Amidst this volatility, we demonstrated adaptability and persistence and remained committed to our Thrive25 strategy.”
Looking forward, Binnie stated, “Deleveraging of our balance sheet has been material and combined with substantial cash reserves we are well positioned to navigate any market downturn. We remain encouraged by the increasing resilience of our business and opportunities for growth in our packaging and speciality papers segment. Notwithstanding the inflationary cost pressures and weakening demand in some product segments, we anticipate that the EBITDA for the first quarter of FY2023 will be above that of the equivalent quarter in FY2022.”
You can download and view all of the latest financial results below, alongside our 2021 Annual Integrated Report.
