Our performance in 2009 - Sappi

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Our report in overview our business our performance governance financials 2 3 4 19 24 92 199 Our global reach A quick overview of our business, including a high-level description and showing the geographic spread of our operations. Our business structure Indicates the divisional structure of our business, including our Chinese joint venture, gives sales and pulp capacity, and provides key facts. Our performance in 2009 An overview of our performance against the prior year, including financial and strategic highlights, and key ratios. Letter to shareholders From the chairman and chief executive officer; reviews the group’s performance and strategic developments in the year, and provides prospects for the year ahead. Interview with the chief executive officer He answers investors’ most frequently asked questions. 26 Our leadership Provides short CVs for the nonexecutive and executive members of our board of directors, and lists 40 senior management in Sappi Limited and our operating divisions. 41 67 Risk management Annual financial statements Glossary 5 6 8 30 36 202 206 Our performance against strategic objectives Sets out our strategic goal and specific priorities, and plots our progress against these in the year under review. Our performance against financial targets Provides five-year trends in key financials and sets out the group’s performance against its stated financial targets. Also shows regional sales by source and destination. Our performance against sustainability objectives A comprehensive overview of our commitment to sustainable development, and our performance against the triple bottom line objectives set out in our Sustainability Charter. Review of operations Sappi Fine Paper Review of operations Sappi Forest Products Value added statement Chief financial officer’s report Notice to shareholders Shareholder’s diary 2009 annual report 1 In striving to provide a more integrated report, we have made a few key improvements as indicated below with an asterisk 14 Our sustainable business cycle A process diagram that provides a full picture of our business, showing inputs, outputs and impacts of our operations. It also indicates the management systems used in our operations. Our products Describes the wide range of enduses and lists our major brands within each of our main product categories, and shows sales by product group. Our objectives for 2010 Sets out management’s priorities for the year ahead. Five-year review Sets out key financials from the income statement, balance sheet and cash flow statement, as well as profitability, efficiency and liquidity ratios, and exchange rates, over a five-year period. Share statistics Provides relevant statistics, including number of shareholders, number of shares in issue, number and value of shares traded, price per share, earnings and dividend yields, PE ratio and total market capitalisation. 70 Corporate governance Includes an indication of the implications of King III on our governance processes. 83 Compensation report 16 18 62 64 207 Proxy form for annual general meeting
1 2 North America 2 4 1 San Francisco Our global reach Founded and incorporated in South Africa in 1936, Sappi is today, a global paper and pulp group. We are a leading producer of coated fine paper widely used in books, brochures, magazines, catalogues and many other print applications. We are also the world’s largest producer of chemical cellulose, used primarily in the manufacture of viscose fibre, acetate tow and consumer and pharmaceutical products. In addition, we produce newsprint, uncoated graphic and business papers, premium quality packaging papers, a range of coated speciality papers and a range of paper grade pulp. Regional head office Fine Paper mills Speciality mill Fine Paper sales offices Sappi Trading sales office United States of America Minnesota Central America Mexico Ohio Georgia New York Maine Boston Europe Regional head office – Brussels 10 Fine Paper mills 16 Fine Paper sales offices 1 Sappi Trading sales offices South America Brazil Central America 1 Sappi Trading sales office South America 1 Sappi Trading sales office Europe Africa South Africa Southern Africa 3 6 4 4 2 Kenya United Kingdom Spain Belgium France The Netherlands Switzerland Cape Town Germany Austria Italy Corporate head office Regional head office Fine Paper mills Forest Product mills Fine Paper sales offices Forest Product sales offices Sappi Trading sales offices Poland Hungary Johannesburg Port Elizabeth East Africa 1 Sappi Trading sales office Asia 4 Sappi Trading sales offices 1 Paper mill – joint venture Australia 1 Greece Peopleʼs Republic of China Singapore Durban Finland Swaziland Ukraine Taiwan Turkey Russia Sappi Trading sales office Australia
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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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20. Interest-bearing borrowings con
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2009 annual report 20. Interest-bea
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22. Provisions continued September
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27. Post-employment benefits - pens
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27. Post-employment benefits - pens
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2009 annual report 2009 2008 27. Po
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2009 annual report 28. Post-employm
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28. Post-employment benefits - othe
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29. Share-based payments continued
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2009 annual report 29. Share-based
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2009 annual report 29. Share-based
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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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