Our performance in 2009 - Sappi

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
admini-
strative
expenses
Cost of
sales
Selling,
general
and
admini-
strative
expenses
Cost of
sales
Selling,
general
and
admini-
strative
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