BRIEF-Sappi Ltd Qtrly Headline Loss/Share 3 US Cents

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  • Stock Market News
BRIEF-Sappi Ltd Qtrly Headline Loss/Share 3 US Cents
Credit: © Reuters.

Feb 3 (Reuters) - Sappi Ltd SAPJ.J :

* JSE: SAP - FIRST QUARTER RESULTS FOR THE PERIOD ENDED DECEMBER 2020

* Q1 UNDERLYING EBITDA 98 MILLION USD

* NET DEBT FOR QUARTER INCREASED BY US$99 MILLION TO US$2,056 MILLION

* NET CASH GENERATED FOR QUARTER WAS ZERO, COMPARED TO A CASH OUTFLOW OF US$278 MILLION IN EQUIVALENT QUARTER LAST YEAR

* QTRLY HEADLINE LOSS PER SHARE 3 US CENTS

* QTRLY SALES $ 1 163 MILLION VERSUS $1,302 MILLION REPORTED A YEAR EARLIER

* QTRLY SALES $ ECONOMIC EFFECTS OF COVID PANDEMIC CONTINUED TO IMPACT PERFORMANCE WITH GRAPHIC SALES STILL WELL BELOW 2019 LEVELS MILLION VERSUS $1,302 MILLION REPORTED A YEAR EARLIER

* CAPITAL EXPENDITURE IN FY2021 IS ESTIMATED TO BE US$400 MILLION

* Q2 EARNINGS WILL BE TEMPERED BY PRODUCTION CURTAILMENTS RELATED TO OXYGEN AVAILABILITY AT OUR NGODWANA MILL

* QTRLY SALES $ GRAPHIC PAPER DEMAND CONTINUED TO SLOWLY RECOVER FROM IMPACT OF COVID MILLION VERSUS $1,302 MILLION REPORTED A YEAR EARLIER

* THERE ARE NO MATERIAL ANNUAL MAINTENANCE SHUTS PLANNED FOR QUARTER

* EXPECT Q2 EBITDA TO IMPROVE RELATIVE TO Q1.

* QTRLY SALES $ UNDERLYING DEMAND FOR PACKAGING AND SPECIALITY PRODUCTS REMAINS RESILIENT MILLION VERSUS $1,302 MILLION REPORTED A YEAR EARLIER

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