Sappi Ltd S/Adr (SPPJY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

and thank you for standing by. Welcome to the SAPI Q3 2025 results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automatic message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Steve Binney, CEO. Please go ahead. Good day, everybody, and thanks for joining. As always, I'll go through the investor presentation, calling out page numbers as I move through. And just starting on page two, we've got the comments around forward-looking statements there for you to refer to. Page three. Just putting the quarter in context, obviously it's been a challenging quarter marked by ongoing global economic weakness, partially obviously driven by the tariffs and the trade tensions, but broader microeconomic challenges as well. And that's had a significant impact on selling prices, particularly for us, obviously dissolving pulp. which we saw is substantially lower. But not only that, we've seen packaging grades in all our regions, packaging and speciality grades, coming under a bit of pressure. And then specifically, you know, in Europe and export markets, graphic papers also coming under some selling price pressure. We've talked about it in the past. Europe's never truly recovered from the COVID times, and that region continues to be challenged by broader macroeconomic weakness and, at the same time, oversupply in many of the categories of paper. Internally, we obviously had the Somerset PM2 conve...