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TheStreet Open House

Sappi Limited's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: SPP

Sappi Limited (SPP)

Q2 2012 Earnings Call

May 10, 2012 9:00 am ET

Executives

Roeloff Jacobus Boëttgerr - Chief Executive Officer, Executive Director and Member of Group Executive Committee

Alexander van Coller Thiel - Member of Group Executive Committee and Chief Executive Officer of Sappi Southern Africa

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

Mark Gardner - Chief Executive Officer, President and Director

Analysts

Caroline Learmonth - Barclays Capital, Research Division

Lars Kjellberg - Crédit Suisse AG, Research Division

Nishal Ramloutan - UBS Investment Bank, Research Division

Sean Ungerer - Avior Research (Pty) Ltd.

Ross Gilardi - BofA Merrill Lynch, Research Division

CJ Baldoni

Kevin J. Cohen - Imperial Capital, LLC, Research Division

Nitin Dias - JP Morgan Chase & Co, Research Division

Presentation

Operator

Good day, and welcome to the Sappi Limited Second Quarter Results. [Operator Instructions] Please also note that this conference is being recorded. I would now like to hand the conference over to Roeloff Boëttgerr. Please go ahead, sir.

Roeloff Jacobus Boëttgerr

Thank you very much. Good morning, and good afternoon to you ladies and gentlemen, and thank you very much for dialing in to our second quarter results presentation. If I could, as usual, draw your attention to the second slide forward-looking statements and Regulation G disclosure requirements.

Moving on to Slide 4, the quarter results. Profit for the quarter, $58 million, a big improvement on the equivalent quarter year ago. Consequently, also, earnings per share at $0.11, and taking it on a year-to-date to $0.20 a share. Cash generation for the quarter strongly in line with the equivalent quarter a year ago at $91 million. And our net debt, despite quite a lower CapEx in terms of our projects, at $2.1 billion.

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