Smurfit Kappa Declared Trading Update for Q1 2023

SEATTLE (Scrap Monster): Smurfit Kappa Group plc- Europe’s leading corrugated packaging company announced trading update for the initial three-month period of the current year.

The company foresees an EBITDA of €579 million during the quarter ended 31st March, 2023, recording a growth of 13%. The EBITDA margin and return on capital employed (ROCE) of 19.3% and 21.6%. The net debt to EBITDA ratio is projected at 1.2x, said the trading update.

As expected, the first quarter 2023 demand remained broadly in line with the fourth quarter of 2022. The demand environment is expected to improve as the year progresses. The company is well placed across geographies to take full advantage of the improved demand situation.

Tony Smurfit, Group CEO commented that the strong performance for the first quarter of the year reflects the continuing benefits of its integrated model and its effective capital spending strategies. The ongoing focus on innovation and the wide geographic footprint too have contributed to the excellent results, even though volumes were lower than the previous year quarter, he added.

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