Sappi financial results for fourth quarter and full year exceeds expectations; dividend declared [Yahoo! Finance]
SAPPI LTD S/ADR (SPPJY)
NASDAQ:AMEX Investor Relations:
sappi.com/investors
Company Research
Source: Yahoo! Finance
strong last quarter, I am pleased we were able to exceed our expectations for the year with Adjusted EBITDA* of US$684 million for the year ended September 2024. Our strong performance occurred against the backdrop of the subdued macroeconomic environment, ongoing low consumer confidence, and persistent geopolitical uncertainty. A key highlight was the pulp segment's strong performance, driving record profitability for the South African region. However, paper markets remained subdued, with the expected recovery in demand after the prolonged destocking phase of 2023 unfolding slower than anticipated. Significant fixed costs savings were achieved through our strategic rationalisation actions." The principles of our Thrive strategy remain a focus on sustaining our financial health, enhancing trust and driving operational excellence. Growing the business in the packaging and speciality papers segment with the conversion and expansion of Somerset PM2 is a vital part of the plan which w
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