Sappi Limited – Q3 FY23 financial results

“Sappi is a leading global provider of everyday materials made from woodfibre-based renewable resources. As a diversified, innovative and trusted leader focused on sustainable processes and products, we are building a more circular economy by making what we should, not just what we can.”

Our raw material offerings (such as dissolving pulp, wood pulp, biomaterials and timber) and end-use products (packaging papers, speciality papers, graphic papers, casting and release papers and forestry products) are manufactured from woodfibre sourced from sustainably managed forests and plantations, in production facilities powered, in many cases, with bio-energy from steam and existing waste streams. Together with our partners, Sappi works to build a thriving world by acting boldly to support the planet, people and prosperity.

The group faced persistent challenges in the global economy and encountered ongoing weakness in paper and pulp markets, leading to a reduction in EBITDA to US$106 million for the quarter ended June 2023. Specifically, the paper businesses experienced a significant downstream destocking cycle. Customers reduced their inventories in anticipation of lower prices, thereby affecting demand. In response, we proactively curtailed excess production in Europe and North America, implemented various cost-saving initiatives across our operations, and applied measures to optimise working capital. The profitability of  the South African business was more stable, bolstered by the dissolving pulp business. Despite the challenging economic environment, we generated cash in the quarter and liquidity in the group remained strong.
details at: https://cdn-s3.sappi.com/s3fs-public/Q3-FY23-Financial-results-booklet-Final.pdf

Related Posts

Pixelle Acquires Two Specialty Papers Businesses

Pixelle Specialty Solutions LLC announced it has completed two strategic investments that will further strengthen its portfolio and enhance service to new and existing customers. On March 31st , Pixelle acquired the specialty paper business Rollsource from Veritiv Corporation. On April 5th , Pixelle acquired the carbonless rolls and security papers business from Appvion Operations Inc. The acquisition of Rollsource includes the book of business primarily serving the forms printer market, and includes a converting facility in Pittsburg, KS. Pixelle will retain key Rollsource employees in order to ensure continuity in operations, sales and customer service. The acquisition of Appvion’s carbonless rolls and security papers business will enable Pixelle to serve new customers with Pixelle’s portfolio of ExcelOne® and Trans/Rite® carbonless papers and broad line of Defensa® security products. No production assets are included in the transaction. Pixelle will manufacture carbonless roll products for former Appvion customers at its Chillicothe, Ohio specialty paper mill, building on decades of experience producing carbonless products.

Euro-Graph Publishes Monthly Statistics of the European Graphic Papers Industry

Total European shipments of graphic papers were down 35.8% in May 2020 vs. May 2019 and were down 17.4% year-to-date. Total European shipments of newsprint were down 27.6% in May 2020 vs. May 2019 and were down 14.5% year-to-date. otal European shipments of sc-magazine were down 31.3% in May 2020 vs. May 2019 and were down 19.0% year-to-date. Total European shipments of coated mechanical reels were down 41.4% in May 2020 vs. May 2019 and were down 23.3% year-to-date. Total European shipments of uncoated mechanical (improved & others) were down 20.8% in May 2020 vs. May 2019 and were down 7.6% year-to-date. Total European shipments of coated woodfree were down 49.3% in May 2020 vs. May 2019 and were down 22.5% year-to-date. Total European shipments of uncoated woodfree were down 35.8% in May 2020 vs. May 2019 and were down 13.6% year-to-date.

Paper Excellence Partners with Cumberland Wood Products to plant 1,000 tree seedlings with Cumberland House Cree Nation

Paper Excellence recently partnered with Cumberland Wood Products (CWP) to plant 1,000 jack pine seedlings in and around the First Nation community of Cumberland House. Cumberland House Cree Nation formed CWP to provide economic benefits directly to the communities and shareholders who remain stewards of Kitaskīnaw, the Saskatchewan River Delta. This spring, using seedlings facilitated by Paper Excellence through its partnership in Meadow Lake, CWP managed the plant with several volunteers from the community on May 27 and June 3. The jack pine is native to Saskatchewan and produces excellent habitat for local plant and animal species. The seedlings planted this year will provide a natural ecosystem buffer for key areas around the Northern Saskatchewan community, and serve to naturally enhance the regrowth on reserve.
Back To Top
×Close search
Search