This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sappi Limited's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: SPP

Sappi Limited (SPP)

Q4 2011 Earnings Call

November 10, 2011 8:00 am ET

Executives

Roeloff Jacobus Boëttgerr - Chief Executive Officer and Executive Director

Mark Richard Thompson - Chief Financial Officer and Executive Director

Berend John Wiersum - Chief Executive Officer of Sappi Fine Paper Europe

Analysts

Tassin Meyer - Citigroup Inc, Research Division

Stephen Atkinson - BMO Capital Markets Canada

Lars Kjellberg - Crédit Suisse AG, Research Division

Caroline Learmonth

Unknown Analyst -

Presentation

Operator

Good afternoon and welcome to the Sappi Limited Fourth Quarter 2011 Results Conference Call. [Operator Instructions] Please note that this conference is being recorded. At this time, I'd like to hand the conference over to Ralph Boëttgerr. Please go ahead, sir.

Roeloff Jacobus Boëttgerr

Thank you very much. A very good morning and good afternoon to you all and thank you very much for taking your time to dial into our results call. I'd like to draw your attention as usual to the second slide, forward-looking statements and Regulation G disclosure requirements.

Moving on, on Slide #4, summary of our results. Operating profit excluding special items $80 million for the quarter, up 33% on the previous quarter but down on the equivalent quarter 1 year ago. Next-generation, particularly strong in our fourth quarter, $279 million. But we had strategic initiatives which we implemented during this quarter, in terms of the further impairment and restructuring activities in our business, which resulted in a charge of $165 million, $98 million of which was non-cash. North American business, as well as our Southern African chemical cellulose business, continued to perform strongly during the quarter. High input costs continued to squeeze margins, but input cost did start to decline towards end of the fourth quarter in just about all our businesses. The net results for the quarter, a loss per share of $0.24, mainly as a result of the interventions that we took in our business.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,195.42 +221.11 1.30%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1380 +16.9120 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs