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Sappi Ltd (SAPJ.J)

SAPJ.J on Johannesburg Stock Exchange

21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Sappi says Q2 EBITDA excluding items up 6.67 pct
Monday, 15 May 2017 03:00am EDT 

May 15 (Reuters) - Sappi Ltd ::Q2 EBITDA excluding special items $208 million (Q2 2016 $195 million).Q2 EPS excluding special items 17 cents (Q2 2016 16cents).Q2 profit for period $88 million (Q2 2016 $100 million).Net debt $1,329 million, down $323 million year-on-year.Net finance costs were $24 million, a reduction from $25 million in equivalent quarter last year..Liquidity at quarter end comprised cash on hand of $703 million and $569 million available from undrawn committed revolving credit facilities..Paper business in South Africa had a positive quarter, with higher sales volumes in containerboard and newsprint categories.Subsequent to steady increase in Q2, DWP prices have moderated during April 2017.Capital expenditure in 2017 is expected to be approximately $350 million..Full year result is likely to be above that of prior year..During course of 2017 we expect to reduce net debt further through positive cash generation.Market dynamics appear favourable, with demand growth continuing to exceed long-term forecast of 4 pct, sees only limited capacity addition in next 2 years.  Full Article

Sappi North America says combines packaging and specialties businesses
Wednesday, 10 May 2017 11:35am EDT 

May 10 (Reuters) - Sappi North America :Sappi north america combines packaging and specialties businesses, announces leadership changes.Sappi north america - vice president and casting and release paper managing director tom collins announces retirement.Sappi north america -deece hannigan will now serve as vice president for newly expanded packaging and specialties business.  Full Article

Sappi ltd says issues redemption notice for $400 mln 2017 bonds
Thursday, 9 Mar 2017 08:10am EST 

Sappi Ltd : Issues redemption notice for $400 million 2017 bonds .Bonds mature in July 2017 but have 3 month call window at par;SPH will use available liquidity resources to repay notes in full on 18 April.  Full Article

Sappi Ltd says Q1 profit rises to $90 million
Wednesday, 8 Feb 2017 01:00am EST 

Sappi Limited : Q1 ebitda excluding special items us$201 million (q1 2016 us$175 million) . Profit for period us$90 million (q1 2016 us$75 million) . Q1 eps excluding special items 16 us cents (q1 2016 13 us cents) . Net debt us$1,338 million, down us$396 million year-on-year . Profit for comparative period increased from us$75 million to us$90 million . Tax payments of us$34 million were higher than last year as a result of increased taxable income in south africa. . Q1 sales at $1,309 million versus $1,284 million . Demand for dwp remains favourable and pricing has recovered during january. . In north america we will be investing approximately us$165 million to convert pm1 at Somerset mill . Capital expenditure in 2017 is expected to be approximately us$350 millio .Expect to reduce net debt levels further during course of 2017 and it remains our intention to repay maturing 2017 bonds from current liquidity sources.  Full Article

Sappi reports eight-fold growth in Q3 profit
Thursday, 4 Aug 2016 03:00am EDT 

Sappi Ltd : Q3 profit for period us$32 million versus $4 million in 2015 . Specialised cellulose business generated $75 million of ebitda, a 34 pct improvement over equivalent quarter last year . Will produce more DWP at our Cloquet Mill . Capex expenditure in last quarter of fiscal 2016 is expected to be approximately $100 million . Q3 EPS excluding special items was 11 us cents versus 2 us cents in 2015 . Q3 sales $1,223 million versus $1,272 million last year . Coated graphic paper markets continued to be challenging during quarter and demand was somewhat weaker than in recent periods . Demand for DWP remains favourable and recent improvements in textile fibre prices, vsf operating rates should support DWP prices at current levels for coming months . "Graphic paper markets have weakened in europe and united states in past quarter, with both volume and pricing under pressure" .Sees Q4 EBITDA excluding special items to be approximately in line with that of performance in equivalent quarter last year.  Full Article

Sappi sees 2016 capex in line with last year
Monday, 9 May 2016 03:01am EDT 

Sappi Ltd : Profit for period US$100 million (q2 2015 us$56 million) period ended March 2016 . Q2 EBITDA excluding special items US$195 million (q2 2015 US$170 million) . Demand remains positive and we remain confident that, at current pricing levels and exchange rates, outlook for this business is positive. . Capex in 2016 is expected to be in line with 2015 and is focused largely on energy and debottlenecking projects in S.Africa together with annual maintenance at mills . As a result of improved operating profits and lower expected finance costs, offset somewhat by increased tax charges, we expect a strong increase in our earnings. .Expect to reduce our net debt further over course of year and improve our financial leverage closer to our target of less than two times net debt to EBITDA.  Full Article

South Africa's Sappi to invest $305 mln in North America and Europe

JOHANNESBURG, Feb 8 South African pulp and paper maker Sappi will invest $305 million in North America and Europe to increase its packaging capacity, the firm said on Wednesday after releasing its first-quarter results.