May 08, 2025 / 01:00PM GMT
Stephen Binnie - Sappi Ltd - Chief Executive Officer, Executive Director
Thank you, and good day, everybody. Thanks for joining us. As always, as I move through the investor presentation, I'll call out page numbers. Just starting on page 2, just refer you to the forward-looking statements disclosure, if you can take a read of that. And then moving to page 3, the second quarter in context.
It's fair to say we did see a deterioration in the market conditions across all segments from where we were, obviously, three months ago. We did know that the earnings were going to be less and certainly, we guided that way because we had material shuts in the quarter.
We had the -- firstly, we had the shut for the Somerset project, which had about a $20 million impact, which was as expected. And then we had two big maintenance shuts at our two big South African mills Saiccor and Ngodwana. Those took longer than anticipated.
We did pick up some issues during the shut. And overall, that had an impact of an additional 13 million tonnes. Broadly speaking, that is the main reason for the
Q2 2025 Sappi Ltd Earnings Call Transcript
May 08, 2025
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