May 09, 2024 / 01:00PM GMT
Stephen Binnie - Sappi Ltd - Chief Executive Officer, Executive Director, Member of Group Management Committee
Thank you and good day to everyone, and thanks for joining us on the call. As always, I'll move to the investor presentation deck calling out the page numbers as I move along. I'm going to start on page 3 with just some of the key highlights for the quarter. We generated EBITDA of $183 million, which included as a small fair value adjustment, $3 million.
I'm pleased to say obviously that the divisions were 10% up on the prior year and also a progressive improvement on the last quarter, ahead of expectations that we had given three months ago. So pleased with that result. Contributors to the success, firstly, on the pulp segment, improved profitability there, and I'll talk a little bit more about that. We saw a modest recovery in global paper markets, obviously.
It's a little bit slow and we did take some curtailment, but it is progressively improving and I once again, we do have slides on that. The other contributor to profitability improvement was a substantial reduction in
Q2 2024 Sappi Ltd Earnings Call Transcript
May 09, 2024
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