Our performance in 2009 - Sappi

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Company auditor’s report for the year ended September 2009 2009 annual report Independent auditor’s report to the members of Sappi Limited The condensed annual financial statements of Sappi Limited set out on pages 194 to 198 have been derived from the annual financial statements of the company for the year ended September 2009. We have audited the annual financial statements in accordance with International Standards on Auditing. In our report dated 04 December 2009, we expressed an unqualified opinion on the annual financial statements from which the condensed financial statements were derived. Opinion In our opinion, the accompanying condensed financial statements are consistent, in all material respects, with the annual financial statements from which they were derived. For a better understanding of the scope of our audit and the company’s financial position, the results of its operations and cash flows for the period, the condensed financial statements should be read in conjunction with our audit report and the annual financial statements from which they were derived. Deloitte & Touche Per M J Comber Partner 04 December 2009 Deloitte & Touche – Registered Auditors Buildings 1 and 2, Deloitte Place The Woodlands, Woodlands Drive, Woodmead Sandton Johannesburg, South Africa National Executive: G G Gelink Chief Executive A E Swiegers Chief Operating Officer G M Pinnock Audit D L Kennedy Tax & Legal and Risk Advisory L Geeringh Consulting L Bam Corporate Finance C R Beukman Finance T J Brown Clients & Markets N T Mtoba Chairman of the Board CR Qually Deputy Chairman of the Board. A full list of partners and directors is available on request. 193 financials
194 Condensed Sappi Limited company income statement for the year ended September 2009 ZAR million Note 2009 2008 Operating loss 1 (38) (154) Income from subsidiaries 2 – 611 Net finance income 3 21 5 (Loss) profit before taxation (17) 462 Taxation – Current 25 (44) Taxation – Deferred 19 61 (Loss) profit for the year (61) 445 Condensed Sappi Limited company statement of comprehensive income for the year ended September 2009 ZAR million 2009 2008 (Loss) profit for the year (61) 445 Other comprehensive income, net of tax – – Total comprehensive income for the year (61) 445
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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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Risk philosophy The Sappi Limited b
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Independence Accountability Given t
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Fairness Social responsibility Lege
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2009 annual report 75 Induction and
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2009 annual report 77 employment of
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2009 annual report 79 board to esta
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As part of continuous improvement t
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Compensation report In 2009, the co
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Balance between fixed and variable
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Executive directors (1) Details of
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2009 annual report 89 R J Boëttger
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2009 annual report 91 Board Committ
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Auditor’s report Independent audi
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Audit committee report The legal re
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Directors’ report for the year en
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Litigation We become involved from
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Group balance sheet at September 20
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Group statement of changes in equit
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Group balance sheet in Rands conven
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Notes to the group annual financial
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• Financial assets and financial
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2.2.10 Non-current assets held for
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(iii) Dividends Dividends are recog
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uyer and seller) multiple used in o
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2.4 Adoption of accounting standard
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Corporate and eliminations Group 20
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2009 annual report US$ million 2009
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6. Taxation (benefit) charge contin
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7. Earnings per share and headline
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2009 annual report 9. Property, pla
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US$ million 2009 annual report 2009
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13. Joint ventures and associates*
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16. Trade and other receivables con
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2009 annual report 17. Ordinary sha
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Page 148 and 149: 20. Interest-bearing borrowings con
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Page 154 and 155: 2009 annual report US$ million 2009
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Page 166 and 167: 29. Share-based payments continued
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Page 172 and 173: 30. Financial instruments continued
Page 178 and 179: 2009 annual report 30. Financial in
Page 194 and 195: 2009 annual report 31. Related-part
Page 196 and 197: 2009 annual report 33. Environmenta
Page 200 and 201: Condensed Sappi Limited company bal
Page 202 and 203: 2009 annual report Notes to the con
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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
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Our performance in 2009 - Sappi

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