Smurfit Kappa Announced Trading Update for Nine Months

SEATTLE (Scrap Monster): Smurfit Kappa-Europe’s leading corrugated packaging company announced trading update for first nine months of the current year.

The revenue during this period witnessed 15% surge over the previous year to €7,287 million. Smurfit Kappa continued to deliver against all performance metrics, which is evident from the fact that the company’s EBITDA for the period surged higher by 10% to €1,235 million, while the EBITDA margin stood at 17%. The Q3 EBITDA witnessed 16% surge year-on-year to total €454 million, said the company release.

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The company approved nearly €600 million in various projects, in response to growing customer demand. A total of 48 new converting machines and six new corrugators were approved across Europe and the Americas. The completion of acquisition of the Verzuolo mill has resulted in addition of around 600,000 tonnes of paper. Furthermore, it approved two major paper projects in Germany and Mexico.

Tony Smurfit, Group CEO, Smurfit Kappa noted that the company reported corrugated growth of 9% and 11% in Europe and the Americas respectively, in comparison to the prior year. The corrugated price increase during this period was able to absorb most of the higher input costs related to recovered fibre and energy.