Financial summary for Q1 FY25 ended December 2024:
- Adjusted EBITDA US$203 million (Q1 FY24 US$130 million)
- Profit for the period US$70 million (Q1 FY24 loss of US$126 million)
- Net debt US$1,406 million (Q1 FY24 US$1,216 million)
- Adjusted EPS 14 US cents (Q1 FY24 5 US cents)
Sappi first quarter results ahead of expectations; up 56% year-on-year
Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “Despite continued challenging global macroeconomic conditions and weak paper markets I am pleased that the group delivered Adjusted EBITDA of US$203 million, which was ahead of expectations and substantially above last year.”
Year-on-year profitability improved across all segments, supported by cost savings, operational efficiency gains, higher dissolving pulp (DP) selling prices and sales volumes combined with improved packaging and speciality papers sales volumes.
Against the backdrop of global macroeconomic headwinds, weak consumer spending and overcapacity in paper markets, our Thrive strategy – in particular our strategic capacity rationalisation and cost-saving initiatives – continued to deliver positive outcomes.
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