Sappi issued on 4 August 2022 via the Stock Exchange News Service of the JSE an announcement entitled “Third quarter results for the period ended June 2022”. Such announcement included an outlook statement for Sappi’s fourth financial quarter ended
30 September 2022. The guidance indicated: “Notwithstanding inflationary cost pressures, we are anticipating another strong performance in the fourth quarter, with EBITDA below the record levels achieved in the third quarter”.
The Company wishes to advise that during the fourth quarter market conditions were stronger than expected while European energy prices, principally gas, were lower than anticipated. Consequently, we are now anticipating that the EBITDA excluding special items for the fourth quarter ended 30 September 2022 will be above the levels achieved in the third quarter ended June 2022.
As per the published schedule, full financial statements for the fourth quarter and financial year ended 30 September 2022 will be issued on 10 November 2022.
The information contained in this trading update has not been reviewed or audited by the Company’s external auditors.
ENDS
About Sappi
A global leader in dissolving pulp and paper-based solutions, Sappi Limited is headquartered in Johannesburg, South Africa; has over 12,000 employees; manufacturing facilities on three continents, in seven countries (eight operations in Europe, four operations in North America and five operations in South Africa) and customers in over 150 countries worldwide
Sappi works closely with customers to provide relevant and sustainable dissolving pulp, paper (speciality, packaging and graphic), paper pulp, and biomaterial products and related services and innovations. Our market-leading range of paper products includes: flexible packaging, label, release liner, containerboard, graphic papers, casting release papers and in our Southern African region newsprint, uncoated graphic and business papers. These products serve the fashion, FMCG and industrial sectors. Our dissolving pulp products are used worldwide by converters to produce viscose fibre, pharmaceutical products as well as a wide range of household and consumer products.
Sappi drives product innovation and the development of new uses for its renewable resource (woodfibre) as well as for the biomass and other residues from its production processes. One such area is in the field of biomaterials (cellulose composites, nanocellulose and lignins), biochemicals including hemi-cellulose sugars and bio-energy forest products materials which Sappi believes will play a key role in its future range of products, both as commercial products and for applications within Sappi.
We continue to grow into a profitable and cash-generative diversified business with an exciting future in woodfibre, a renewable resource. www.sappi.com
Issued by
Brunswick
on behalf of Sappi Limited
Tel + 27 (0) 11 502 7300
For further information
Tracy Wessels
Group Head Sustainability and Investor Relations
Sappi Limited
Tel +27 (0)11 407 8391
Mobile +27 (0)83 666 6589
Tracy.wessels@sappi.com
André F Oberholzer
Group Head Corporate Affairs
Sappi Limited
Tel +27 (0)11 407 8044
Mobile +27 (0)83 235 2973
Andre.oberholzer@sappi.com
