Our performance in 2009 - Sappi

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Corporate and eliminations Group 2009 2008 2007 2009 2008 2007 – – – 5,369 5,863 5,304 (1,010) (1,334) (1,260) – – – (1,010) (1,334) (1,260) 5,369 5,863 5,304 (4) 7 – (73) 314 383 4 10 4 11 17 10 – 1 1 396 374 374 – – – 71 80 71 – – – 79 119 2 (38) (58) (14) 100 (57) (142) – 1 1 184 507 458 795 336 317 7,297 6,109 6,344 142 144 99 6,471 5,794 5,919 72 78 66 1,165 1,025 999 38 39 21 5,250 4,715 4,796 – – – 3,934 3,361 3,491 Sappi Forest Products Southern Africa Corporate and other Group 2009 2008 2007 2009 2008 2007 2009 2008 2007 861 1,099 1,048 – – – 5,369 5,863 5,304 (52) 273 264 (4) 7 – (73) 314 383 60 290 299 – 1 1 184 507 458 1,916 1,972 1,984 142 144 99 6,471 5,794 5,919 1,686 1,721 1,654 38 39 21 5,250 4,715 4,796 1,078 1,008 988 – – – 3,934 3,361 3,491 2009 annual report 119 financials
120 3. Segment information continued Sales by geographical location of customers US$ million Notes to the group annual financial statements continued US$ million 2009 2008 2007 North America 1,298 1,716 1,559 Europe 2,557 2,319 2,078 Southern Africa 678 883 789 Asia and other 836 945 878 5,369 5,863 5,304 (1) Sales where the product is manufactured. (2) Segment result is operating profit (loss). (3) Operating assets consist of property, plant and equipment, plantations, non-current assets (excluding deferred taxation) and current assets (excluding cash). (4) Operating liabilities consist of trade and other payables, provisions and current derivative financial instruments. (5) Net operating assets consist of operating assets less operating liabilities, adjusted for taxation payable and dividends payable. (6) Corporate includes the group’s treasury operations and the investment in the Chinese joint venture. 4.1 Operating profit Operating profit has been arrived at after charging (crediting): Raw materials, energy and other Cost of sales 2009 2008 2007 Selling, general and administrative expenses Cost of sales Selling, general and administrative expenses Cost of sales Selling, general and administrative expenses direct input costs 2,868 – 3,073 – 2,685 – Wood (includes felling adjustment (1) ) 663 – 722 – 635 – Energy 584 – 558 – 438 – Chemicals (2) 868 – 935 – 676 – Pulp (2) 543 – 702 – 623 – Other variable costs (2) 210 – 156 – 313 – Fair value adjustment on plantations (1) Growth (73) – (70) – (76) – Price 67 – (120) – (54) – Employment costs 882 164 864 153 809 116 Depreciation 376 20 350 24 350 24 Delivery charges 454 – 509 – 453 – Maintenance 250 – 252 – 235 – Other overheads 205 – 158 – 189 – Marketing and selling expenses Administrative and general – 102 – 105 – 91 expenses – 99 – 103 – 131 (1) Disclosed separately below. (2) Costs included in pulp in 2008 have been reallocated to chemicals and other variable costs. 5,029 385 5,016 385 4,591 362
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SAPPI GROUP (Sappi Limited) ANNUAL
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• the impact of future investment
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Our reporting strategy As a leading
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1 2 North America 2 4 1 San Francis
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4 Our performance in 2009 Financial
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6 Our performance against financial
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8 Our performance against sustainab
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10 Our performance against sustaina
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12 Our performance against sustaina
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14 Our sustainable business cycle T
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16 Our products 1 2 3 Coated paper
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Our objectives for 2010 Improve pro
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20 Letter to shareholders continued
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22 Letter to shareholders continued
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24 Interview with Ralph Boëttger,
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26 Our leadership Independent non-e
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28 Our leadership continued Indepen
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30 Review of operations Sappi Fine
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32 Review of operations | Sappi Fin
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34 Review of operations | Sappi Fin
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36 Review of operations Sappi Fores
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38 Review of operations | Sappi For
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40 Value added statement for the ye
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42 Chief financial officer’s repo
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62 Five-year review for the year en
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64 Share statistics at September 20
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Risk management Global economic con
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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
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Page 88 and 89: Compensation report In 2009, the co
Page 90 and 91: Balance between fixed and variable
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Page 94 and 95: 2009 annual report 89 R J Boëttger
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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
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Page 112 and 113: Notes to the group annual financial
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Page 126 and 127: 2009 annual report US$ million 2009
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Page 132 and 133: 2009 annual report 9. Property, pla
Page 134 and 135: US$ million 2009 annual report 2009
Page 138 and 139: 13. Joint ventures and associates*
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Page 152 and 153: 22. Provisions continued September
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30. Financial instruments continued
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2009 annual report 30. Financial in
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2009 annual report 31. Related-part
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2009 annual report 33. Environmenta
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Company auditor’s report for the
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Condensed Sappi Limited company bal
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2009 annual report Notes to the con
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Glossary General definitions bleach
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not be comparable with similarly ti
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No issue and/or sale of these share
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Notes Confirmation of appointment o
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Proxy form for annual general meeti
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forward-looking statements Certain
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Our performance in 2009 - Sappi

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