The group delivered exceptional results with record EBITDA, well above the previous record set in FY2000 (US$1,052 million). In addition, Q4 EBITDA improved on last quarter’s record.
Substantially improved market conditions and record operating profitability translated to a profit of US$536 million. Margins improved in all product segments. The graphic paper segment capitalised on an unprecedented global shortage, generating EBITDA of US$650 million — a remarkable turnaround from the 2020 lows.
The strategic investment in packaging and speciality papers in recent years reaped rewards amidst robust global demand and renewed growth in Europe.
Pulp segment sales volumes increased 15% compared to the prior year on the back of strong market demand and improved logistics. Demand for Verve was particularly strong, but sales were constrained by available production. The hardwood dissolving pulp market price rallied during the first half of the year peaking at US$1,220 per ton in July but began to soften in late August 2022.
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Please click on the link below to hear more about these record results in this LinkedIn interview featuring Steve Binnie, Sappi Limited’s CEO: https://www.linkedin.com/feed/update/urn:li:activity:6996469415252742145
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