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TheStreet Open House

Sappi CEO Discusses F1Q11 Results - Earnings Call Transcript

Sappi Limited ( SPP)

F1Q11 Earnings Call

February 9, 2011 9:00 am ET

Executives

Ralph Boëttger - Chief Executive Officer

Berry Wiersum - Chief Executive Officer, Sappi Fine Paper Europe

Alex Thiel - Chief Executive Officer, Sappi Southern Africa

Mark Thompson - Chief Financial Officer

Mark Gardner - President and Chief Executive Officer, Sappi Fine Paper North America

Analysts

Myles Allsop - UBS

Tassin Meyer - Citigroup

Lars Kjellberg - Credit Suisse

David Smith - Macquarie

Alex Ovshey - Goldman Sachs

Phyllis Camara - Pax World Fund

Terek Hamid - JPMorgan

Presentation

Operator

Ladies and gentlemen, good afternoon and welcome to the Sappi Limited First-Quarter Results Conference Call. Please note that all participants on this call are currently in listen-only mode and will be presented with an opportunity to ask questions at the end of today's presentation. (Operator Instructions) Please note that this conference call is being recorded.

At this point in time I would now like to hand the conference call over to Sappi Limited Chief Executive, Mr. Ralph Boëttger. Thank you, and over to you, sir.

Ralph Boëttger

Thank you very much. Very good afternoon and good morning to you. And thank you for joining us for the Sappi first quarter 2011 results presentation. And I have with me a number of my colleagues as usual to answer any questions should you have.

I would like to draw your attention to the forward-looking statements and Regulation G disclosure requirements on slide 2.

Moving then on to the summary, our first quarter 2011 we had pleasing results, with earnings per share of $0.07 per share and that against a loss of $0.10 for the equivalent quarter in 2010. Operating profit excluding special items amounted to $137 million compared to $81 million for the same period a year ago. We have experienced improved demand and pricing for the majority of our products during the past quarter.

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