Smurfit Kappa Announced Strong Full Year 2023 Results

SEATTLE (Scrap Monster): Smurfit Kappa Group plc. announced results for the full year 2023. The European corrugated packaging major announced its second best result in its 90 year history.

For the full year ending 31st December, 2023, the company reported a revenue of €11.3 billion. The EBITDA stood at €2,080 million, while the EBITDA margin was 18.5%. The company reported free cash flow of €628 million. The return on capital employed (ROCE), at 17.1%, was well above the expectations of the company. It increased the final dividend by 10% to 118.4 cents per share.

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Commenting on the results, Tony Smurfit, Group CEO stated that the company is pleased to deliver an excellent outcome for the Group in 2023. The results demonstrate the excellence of its people and their dedication for providing the most innovative and sustainable packaging solution for its customers.

The company press release noted that destocking and a lack of economic activity in certain sectors impacted the demand environment for the industry during the previous year. On the contrary, the demand for sustainable packaging solutions witnessed significant increase. The results are a testimony of the company’s proven capacity to perform across all market conditions, it said.