2008 Annual report - Sappi

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Review of operations (continued) Sappi Forest Products, based in Southern Africa, produces nearly 2 million tons of pulp – almost half the group’s output – and provides a pulp revenue stream that effectively hedges the purchases of pulp by our European business. This virtually eliminates the group’s overall exposure to changes in world pulp prices. 34
sappi Sappi Forest Products Mills/ Capacity factories/ (’000 tons) Divisions plantations Products produced Paper Pulp Employees* Sappi Kraft Cape Kraft Mill Waste-based linerboard and corrugating medium 60 Ngodwana Mill Tugela Mill Unbleached kraft pulp for own consumption, bleached chemical pulp for own consumption and market pulp 410 Mechanical pulp for own consumption 100 Kraft and white top linerboard 240 Newsprint 140 Unbleached kraft and semi-chemical pulp for own consumption 350 Kraft linerboard and corrugating medium 300 Other kraft packaging paper 90 2,310 Usutu Mill Unbleached kraft market pulp 190 590 Sappi Saicor Saiccor Mill*** Chemical cellulose 800 1,220 Sappi Forests Capacity/ hectares ’000 KwaZulu Natal Plantations (pulpwood and sawlogs)** 240ha Mpumalanga Plantations (pulpwood and sawlogs)** 245ha Usutu Mill Plantations (pulpwood) ** 70ha Sawmills Sawn Timber 85m 3 1,460 * Rounded to nearest 10. ** Plantations include title deed and lease area as well as projects. *** Saiccor’s pulp capacity has increased to 800 000 after the expansion started up in September 2008. Total Sappi Forest Products 830 1,850 5,580 // 2008 Annual report 35
Page 1 and 2: annual report 2008
Page 3 and 4: sappi Our report in overview In pro
Page 5 and 6: sappi Our performance The group’s
Page 7 and 8: sappi Target Target Net debt to tot
Page 9 and 10: sappi Our score on the DJSI World D
Page 11 and 12: sappi People continued Our commitme
Page 13 and 14: sappi Our business structure Johann
Page 15 and 16: sappi Pulp Paper pulp is the main r
Page 17 and 18: sappi Ideas that matter Print remai
Page 19 and 20: sappi Objectives for 2009 Meaningf
Page 21 and 22: sappi Deenadayalen (Len) Konar // (
Page 23 and 24: sappi Divisional and corporate mana
Page 25 and 26: sappi We are of the opinion that su
Page 27 and 28: sappi input cost reductions across
Page 29 and 30: sappi Q // Will the integration of
Page 31 and 32: sappi Sappi Fine Paper Mills/ Capac
Page 33 and 34: sappi deliver excellent service and
Page 35: sappi Transaction funding overview
Page 39: sappi Demand and prices in the inte
Page 42 and 43: Risk management Our top risks These
Page 44 and 45: Risk management // continued Risk m
Page 46 and 47: Chief financial officer’s report
Page 60 and 61: Five year review Not restated for I
Page 62 and 63: Share statistics at September 2008
Page 64 and 65: Corporate governance We are committ
Page 66 and 67: Corporate governance // continued E
Page 68 and 69: Corporate governance // continued A
Page 70 and 71: Corporate governance // continued r
Page 72 and 73: Compensation report Compensation co
Page 74 and 75: Annual financial statements for the
Page 76 and 77: Directors’ approval The directors
Page 78 and 79: Directors’ report // continued fo
Page 80 and 81: Group income statement for the year
Page 82 and 83: Group cash flow statement for the y
Page 84 and 85: 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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Condensed Sappi Limited company inc
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Condensed Sappi Limited company cas
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Notes to the condensed Sappi Limite
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Glossary General definitions bleach
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Glossary // continued Non-GAAP fina
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Notice to shareholders // continued
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Notice to shareholders // continued
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Shareholder’s diary Annual genera
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Notes to proxy The form of proxy mu
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Notes 1. To be effective, this form
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Notes 1. To be effective, this form
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2008 Annual report - Sappi

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