Q2 2019 Sappi Ltd Earnings Call Transcript
Thank you. Good morning, everybody. As always, I'll go through the investment (sic) [investor] presentation that has been loaded, and I'll call out the page numbers as I move through the deck. And I'll start then on Page 3, which contains some of the highlights for the quarter. It was a tough quarter for Sappi. The markets for graphic papers were weaker than we had expected. And as a consequence of that, we had to take production downtime. That was approximately 85,000 tons of graphic paper, and the impact on EBITDA of that downtime was $23 million. However, that enabled us to normalize our inventory levels because of a lower demand. And we are in a better position from an inventory perspective as we move forward.
Dissolving pulp volumes were good, post the debottlenecking projects that were completed in South Africa. And then for the specialities and packaging, mixed performance, some good markets, particularly containerboard down in South Africa and in some of the speciality grades in Europe, but others being more challenging.
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