Our performance in 2009 - Sappi

More documents

Recommendations

Info

Current target Cash interest cover (times) To exceed a level of 4 times cover. Performance Cash interest cover was lower due to lower cash generated from operations and higher net finance costs. 2009 annual report While we reported losses in the second and third quarters, we achieved a turnaround in the fourth quarter. This resulted in a small operating profit, excluding special items for the year. 7 our business
8 Our performance against sustainability objectives Our sustainability vision To embed the 3Ps of Prosperity, People and Planet into our everyday business processes, to add value to all stakeholders, and to help achieve the Sappi Limited goal to be, on a sustainable basis, the most profitable company in paper, pulp and cellulose-based solutions. Our approach to sustainability Our Sustainability Charter, which sets out specific Prosperity, People and Planet commitments, is the roadmap for embedding sustainability practices into our business. The table that starts below shows our performance against the objectives set out in the Charter, as well as our future targets. International, independently verified management systems including forest certification systems (FSC, PEFC and SFI ®), OHSAS 18001 and OSHA health and safety standards, ISO 14001 environmental standards and ISO 9001 quality standards underpin our strategic approach to sustainable development. This is enhanced by the use of external indicators and benchmarks such as the Global Reporting Initiative (GRI) G3 guidelines, the JSE Socially Responsible Investment (SRI) Index, the Carbon Disclosure Project and the UN Global Compact. Our regional sustainability councils report to a Group Sustainable Development Council (GSDC). Ultimate responsibility for sustainability rests with the executive sustainability committee. Chaired by an independent non-executive director, this committee determines the priorities for the group’s efforts. Prosperity = charter commitment Sappi performance indicators Focus on long-term profitable growth Actual performance Future targets i More info This commitment supports our strategic and financial objectives, set out on pages 5 to 7. Value add Increased shareholder value and financial viability will enhance Sappi’s overall sustainability. Promote an ethical culture Code of Ethics Governance Post-roll out internal communications through posters Group and Regional Sustainability Councils operating well Formation of board/executive sustainability committee Conduct employee survey on Code of Ethics understanding and compliance Value add The basis of sound governance and stakeholder confidence; also enhances reputation and licence to trade. Drive customer satisfaction through technology and innovation Investment in new products Margins and market share in the profitable and fast growing digital print sector in Europe In Europe, launch of Identicate – security tracking paper using nanotechnology In North America, launch of a range of digital papers and new Mokka pattern for casting release papers In South Africa, new passport paper to enhanced specifications and launch of wet strength label paper for beverage bottles Our market share in the European digital print sector is not significant yet. Sappi is developing tailor-made solutions for digital print Review current portfolio of brands and product selection Investigate return on capital employed (ROCE) assessment of research and development Understand customer/end-user needs and Sappi’s performance in satisfying these Increase amount of revenue/ profit from ‘new’ business Secure a leading position in the emerging segments, while taking a profitable share in the already developed digital print segments. New product solutions will be launched in Europe in early 2010
Page 1 and 2: SAPPI GROUP (Sappi Limited) ANNUAL
Page 3 and 4: • the impact of future investment
Page 5 and 6: Our reporting strategy As a leading
Page 7 and 8: 1 2 North America 2 4 1 San Francis
Page 9 and 10: 4 Our performance in 2009 Financial
Page 11: 6 Our performance against financial
Page 15 and 16: 10 Our performance against sustaina
Page 17 and 18: 12 Our performance against sustaina
Page 19 and 20: 14 Our sustainable business cycle T
Page 21 and 22: 16 Our products 1 2 3 Coated paper
Page 23 and 24: Our objectives for 2010 Improve pro
Page 25 and 26: 20 Letter to shareholders continued
Page 27 and 28: 22 Letter to shareholders continued
Page 29 and 30: 24 Interview with Ralph Boëttger,
Page 31 and 32: 26 Our leadership Independent non-e
Page 33 and 34: 28 Our leadership continued Indepen
Page 35 and 36: 30 Review of operations Sappi Fine
Page 37 and 38: 32 Review of operations | Sappi Fin
Page 39 and 40: 34 Review of operations | Sappi Fin
Page 41 and 42: 36 Review of operations Sappi Fores
Page 43 and 44: 38 Review of operations | Sappi For
Page 45 and 46: 40 Value added statement for the ye
Page 47 and 48: 42 Chief financial officer’s repo
Page 63 and 64:
58 Chief financial officer’s repo
Page 65 and 66:
60 Chief financial officer’s repo
Page 67 and 68:
62 Five-year review for the year en
Page 69 and 70:
64 Share statistics at September 20
Page 72 and 73:
Risk management Global economic con
Page 74 and 75:
Risk philosophy The Sappi Limited b
Page 76 and 77:
Independence Accountability Given t
Page 78 and 79:
Fairness Social responsibility Lege
Page 80 and 81:
2009 annual report 75 Induction and
Page 82 and 83:
2009 annual report 77 employment of
Page 84 and 85:
2009 annual report 79 board to esta
Page 86 and 87:
As part of continuous improvement t
Page 88 and 89:
Compensation report In 2009, the co
Page 90 and 91:
Balance between fixed and variable
Page 92 and 93:
Executive directors (1) Details of
Page 94 and 95:
2009 annual report 89 R J Boëttger
Page 96 and 97:
2009 annual report 91 Board Committ
Page 98 and 99:
Auditor’s report Independent audi
Page 100 and 101:
Audit committee report The legal re
Page 102 and 103:
Directors’ report for the year en
Page 104 and 105:
Litigation We become involved from
Page 106 and 107:
Group balance sheet at September 20
Page 108 and 109:
Group statement of changes in equit
Page 110 and 111:
Group balance sheet in Rands conven
Page 112 and 113:
Notes to the group annual financial
Page 114 and 115:
• Financial assets and financial
Page 116 and 117:
2.2.10 Non-current assets held for
Page 118 and 119:
(iii) Dividends Dividends are recog
Page 120 and 121:
uyer and seller) multiple used in o
Page 122 and 123:
2.4 Adoption of accounting standard
Page 124 and 125:
Corporate and eliminations Group 20
Page 126 and 127:
2009 annual report US$ million 2009
Page 128 and 129:
6. Taxation (benefit) charge contin
Page 130 and 131:
7. Earnings per share and headline
Page 132 and 133:
2009 annual report 9. Property, pla
Page 134 and 135:
US$ million 2009 annual report 2009
Page 136 and 137:
Page 138 and 139:
13. Joint ventures and associates*
Page 140 and 141:
Page 142 and 143:
16. Trade and other receivables con
Page 144 and 145:
2009 annual report 17. Ordinary sha
Page 146 and 147:
Page 148 and 149:
20. Interest-bearing borrowings con
Page 150 and 151:
2009 annual report 20. Interest-bea
Page 152 and 153:
22. Provisions continued September
Page 154 and 155:
Page 156 and 157:
27. Post-employment benefits - pens
Page 158 and 159:
27. Post-employment benefits - pens
Page 160 and 161:
2009 annual report 2009 2008 27. Po
Page 162 and 163:
2009 annual report 28. Post-employm
Page 164 and 165:
28. Post-employment benefits - othe
Page 166 and 167:
29. Share-based payments continued
Page 168 and 169:
2009 annual report 29. Share-based
Page 170 and 171:
2009 annual report 29. Share-based
Page 172 and 173:
30. Financial instruments continued
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
2009 annual report 30. Financial in
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
2009 annual report 31. Related-part
Page 196 and 197:
2009 annual report 33. Environmenta
Page 198 and 199:
Company auditor’s report for the
Page 200 and 201:
Condensed Sappi Limited company bal
Page 202 and 203:
2009 annual report Notes to the con
Page 204 and 205:
Glossary General definitions bleach
Page 206 and 207:
not be comparable with similarly ti
Page 208 and 209:
No issue and/or sale of these share
Page 210 and 211:
Notes Confirmation of appointment o
Page 212 and 213:
Proxy form for annual general meeti
Page 214 and 215:
forward-looking statements Certain
show all

Our performance in 2009 - Sappi

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?