Smurfit Kappa Announced Robust Results in H1 2021

SEATTLE (Scrap Monster): Smurfit Kappa Group plc. announced results for first half 2021. The company reported robust surge in profits and revenue.

According to company press release, it reported revenue growth of 11%, EBITDA of €781 million and an EBITDA margin of 16.7%. The growth in corrugated was over 10%, compared with the same period a year before. The European business reported strong performance with EBITDA of €591 million and an EBITDA margin of 16.2%. Also, the Americas business delivered EBITDA of €211 million and an EBITDA margin of 20.4% during the half-yearly period.

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Smurfit Kappa completed acquisition of two businesses in Peru and Mexico, adding further to its geographic footprint in the Americas region. As part of efforts to strengthen the integration of the Group, it has decided to acquire a state-of-the-art recycled containerboard mill in Northern Italy with a capacity of approximately 600,000 tonnes.

The company expressed confidence in its prospects and future opportunities for its business. The robust H1 2021 results establish a platform for strong and accelerated earnings growth during the remaining period in 2021. It recommended 5% hike in interim dividend to 29.3 cent per share.