2008 Annual report - Sappi

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Condensed Sappi Limited company income statement for the year ended September 2008 ZAR million Note 2008 2007 Operating loss 1 (154) (14) Income from subsidiaries 2 611 498 Net finance income 3 5 15 Profit before taxation 462 499 Taxation – Current (44) (38) – Deferred 61 70 Profit for the year 445 467 182
sappi // Condensed Sappi Limited company balance sheet at September 2008 ZAR million 2008 2007 Assets Non-current assets 14,950 14,663 Property, plant and equipment 3 4 Investments in subsidiaries (Annexure A) 12,319 12,253 Intercompany receivables (Annexure A) 2,420 2,217 Loan to Executive Share Purchase Trust 104 109 Project costs capitalised 85 – Deferred tax asset 19 80 Current assets 41 82 Cash – 1 Receivables 5 2 Intercompany receivables (Annexure A) 36 79 Total assets 14,991 14,745 Equity and liabilities Shareholders’ equity 14,750 14,575 Ordinary share capital 239 239 Share premium 6,427 6,427 Non-distributable reserves 247 18 Distributable reserves 7,837 7,891 Non-current liabilities Intercompany payables (Annexure A) 30 1 Current liabilities 211 169 Trade and other payables 123 61 Intercompany payables (Annexure A) 75 69 Taxation payable 13 39 Total equity and liabilities 14,991 14,745 // 2008 Annual report 183
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annual report 2008
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sappi Our report in overview In pro
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sappi Our performance The group’s
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sappi Target Target Net debt to tot
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sappi Our score on the DJSI World D
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sappi People continued Our commitme
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sappi Our business structure Johann
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sappi Pulp Paper pulp is the main r
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sappi Ideas that matter Print remai
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sappi Objectives for 2009 Meaningf
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sappi Deenadayalen (Len) Konar // (
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sappi Divisional and corporate mana
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sappi We are of the opinion that su
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sappi input cost reductions across
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sappi Q // Will the integration of
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sappi Sappi Fine Paper Mills/ Capac
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sappi deliver excellent service and
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sappi Transaction funding overview
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sappi Sappi Forest Products Mills/
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sappi Demand and prices in the inte
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Risk management Our top risks These
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Risk management // continued Risk m
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Chief financial officer’s report
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Five year review Not restated for I
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Share statistics at September 2008
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Corporate governance We are committ
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Corporate governance // continued E
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Corporate governance // continued A
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Corporate governance // continued r
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Compensation report Compensation co
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Annual financial statements for the
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Directors’ approval The directors
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Directors’ report // continued fo
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Group income statement for the year
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Group cash flow statement for the y
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Group income statement in Rands con
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Group cash flow statement in Rands
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Notes to the group annual financial
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Page 134 and 135: Notes to the group annual financial
Page 186 and 187: Condensed Sappi Limited company cas
Page 188 and 189: Notes to the condensed Sappi Limite
Page 190 and 191: Glossary General definitions bleach
Page 192 and 193: Glossary // continued Non-GAAP fina
Page 194 and 195: Notice to shareholders // continued
Page 196 and 197: Notice to shareholders // continued
Page 198 and 199: Shareholder’s diary Annual genera
Page 200 and 201: Notes to proxy The form of proxy mu
Page 202 and 203: Notes 1. To be effective, this form
Page 204 and 205: Notes 1. To be effective, this form
Page 206: www.sappi.com
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2008 Annual report - Sappi

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