Sappi delivers robust full year and 4th quarter results based on strong growth from the dissolving wood pulp and specialty packaging businesses Financial summary for the quarter and full year: • EBITDA excluding special items: o For the quarter US$221 million (2016 US$209 million) o For the year US$785 million (2016 US$739 million) • EPS excluding special items: o For the quarter 19 US cents (2016 18 US cents) o For the year 64 US cents (2016 57 US cents) • Profit for the period: o For the quarter US$102 million (2016 US$112 million) o For the year US$338 million (2016 US$319 million) • Net debt US$1,322 million, down US$86 million year-on-year • Dividend of 15 US cents declared (2016 11 US cents) Sappi Chief Executive Officer Steve Binnie, commenting on the group’s performance, said: “Sappi has delivered another strong set of results with profits up 6% year-on-year. I am very pleased with the growth of the dissolving wood pulp (DWP) and speciality packaging businesses. Furthermore our initiatives to reduce variable costs and the benefits of lower interest charges were able to help mitigate higher paper pulp prices and a stronger Rand/Dollar exchange rate during the reporting period. “Capital expenditure in 2018 is expected to increase to US$450 million as we continue the conversions in both Europe and North America, complete the Saiccor and Ngodwana debottlenecking and start the upgrade of the Saiccor wood-yard. The increase in expansionary capital spending during 2018 is focused on higher margin growth segments including dissolving wood pulp and speciality packaging. This will position us for stronger profitability from 2019 onwards.” The periods under review: Demand for DWP was robust, growing at double-digits throughout the year. We shifted more production capacity to speciality packaging during the year. The European business experienced a good final quarter, with expanded sales volumes and price increases helping to . . .
Madrid (Spain), October 31, 2017 – The SENER Foundation, part of the engineering and technology group SENER, has sent out the call for entrants to the sixth edition of the SENER Foundation Best Doctoral Thesis Award. Entry is open to anyone who has obtained a doctorate from a university this calendar year 2017, in any of the following scientific and technological areas: Aerospace, Infrastructures and Transport, Power, Oil & Gas, or Marine. These awards seek to stimulate research at the very highest level, and the areas mentioned are the main technological and scientific areas in which SENER is active. Candidates must send their entry in PDF format to the SENER Foundation (address: C/Severo Ochoa 4 (PTM) Tres Cantos – 28760 Madrid, Spain), and have until 1.00 pm on December 22, 2017 to do so. As in previous editions, the SENER Foundation shall bestow a single award with prize money of €12,000 for the author of the winning thesis and another €3,000 for the supervisor(s) of the study (if there is more than one supervisor, this prize money is shared). The panel of judges’ decision will be published during the first quarter of 2018 and the prize will be presented in April that year. The panel of judges will comprise supervisors of winning theses from previous editions (provided they are not connected to entries in the present edition), two doctors from SENER’s technical corps with experience in research work, doctorate-holding trustees of the SENER Foundation, and the Director and Secretary of the Foundation. Assessment criteria will include, first of all, the research’s relevance and potential for application in the aforementioned scientific and technological areas; secondly, the quality of the thesis, and its impact in scientific dissemination channels (journals, patents, etc.), prizes or other accolades; and finally, clarity of presentation. The full rules for the Best Doctoral Thesis Award are available on the SENER Foundation’s . . .