Pulp and paper producer Sappi has returned to profitability for the financial year ended September 30, turning a loss of $135-million in 2020 into a profit of $13-million for 2021, with earnings before interest, taxes, depreciation, amortisation (Ebitda) having increased by 40% over the prior year. Speaking to Engineering News on November 11, CEO Steve Binnie said the Covid-19 pandemic “had a dramatic impact on the business and all of its segments”, but a “steady improvement” was seen over the last 12 months, culminating in both a stronger fourth quarter and returning the company to profitability for the full-year period.
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