DS Smith Continues to Remain Resilient From COVID-19 Impacts

SEATTLE (Scrap Monster): DS Smith announced that it has remained resilient to impacts caused by COVID-19 spread. To-date, the company has seen limited impacts. It expects performance during the financial year to be in line with its current expectations.

All of the company facilities have been operational throughout, following various governments classifying its operations under ‘critical’ businesses. All the facilities have ensured highest safety and hygiene standards. The safety of its employees, communities and customers will continue to remain as the highest priority, said DS Smith media release.

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The corrugated box volumes have continued to remain strong. The company reported increased demand for its products from e-commerce sector. The company has limited exposure to industrial sector, which has been heavily affected.

The Southern European region including markets of Italy, France and Spain has been impacted due to the rapid penetration of virus. The Northern region comprising of Germany, Benelux, UK and Scandinavia has had less impacts. While the Eastern European markets had no visible impacts, the North American operations have continued to remain relatively robust during these difficult times.

Although the company incurred some additional operating costs due to COVID-19, the resilient pricing is likely to deliver flat return on sales during the current financial year, the company said.