Investor Presentation March 2012.pdf - Sappi
Investor Presentation March 2012.pdf - Sappi
Investor Presentation March 2012.pdf - Sappi
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Currency sensitivity<br />
10c change in ZAR/USD rate:<br />
• Annual impact ‐ US$8 million on operating income<br />
Change in USD/EURO rate:<br />
• Small direct impact on operating income –<br />
� In Europe, we export paper in USD and buy USD denominated pulp<br />
• Macro‐economic impact on European export economies<br />
� impact on advertising demand<br />
� a strengthening USD against the Euro is a positive for <strong>Sappi</strong>, but<br />
currently being offset by poor economic conditions<br />
| Roadbook | <strong>March</strong> 2012
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