Lenzing retracts forecast for 2022 business year

Although first quarter results of Sappi did not reach the record levels of the fourth quarter of 2022, the figures of the same quarter last year were still clearly exceeded. As with many companies in the paper industry, it was mainly the higher sales prices that more than compensated for increased costs and also lower...

Despite exceptional macroeconomic conditions, Sappi posted record earnings in the 2021/22 business year. Strong demand and the implementation of higher sales prices to cover rising costs led to increased margins in all product groups, the company said. For the business year ended 30 September, Sappi reported an...

“Tight global paper markets were the principal factor behind the quarter’s success and enabled the implementation of higher selling prices which offset extraordinary cost inflation,” Sappi’s CEO Steve Binnie said commenting on the group’s second quarter results. The Russian-Ukrainian conflict triggered renewed...