Feb 08, 2023 / 02:00PM GMT
Operator
Ladies and gentlemen, thank you for standing by, and welcome to Sappi Financial Results Announcement Q1 2023. (Operator Instructions)
I will now hand the conference over to CEO, Steve Binnie. Please go ahead, sir.
Stephen Robert Binnie - Sappi Limited - CEO & Executive Director
Thank you. Good day, everybody, and thanks for joining. As always, I'll move through the investor presentation, calling out the page numbers as I move along. And I'm going to start on Page 3, which is the highlights for the quarter. Pleased to say that it was our best ever first quarter EBITDA of $290 million, which is a 21% rise year-on-year. And under the circumstances, with the more challenging economic environment, we're very proud of that. The other thing I would call out to you is that this -- the prior year did have a 53rd week. And if you equate that to sales volumes, if you're comparing year-on-year, that was about 7.5% of sales volumes. So in order to get a true comparison, you should back out the 7.5% from the prior year. A higher profitability came from year-on
Q1 2023 Sappi Ltd Earnings Call Transcript
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