Smurfit Kappa Group Posted Strength and Resilience Amidst Challenges

SEATTLE (Scrap Monster): Smurfit Kappa Group plc., announced trading update for the nine-month period ending 30^th September, 2020. The company delivered strong set of results for the period.

The company reported revenue of €6,312 million and EBITDA of €1,125 million for the nine months. The EBITDA margin stood at 17.8% during this period. The strong third quarter EBITDA of €390 million, in the midst of challenging environment, demonstrated the strength and resilience of the Group. The Group expects to deliver EBITDA in the range of €1,460 million to €1,480 million for the full year 2020.

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The company press release noted that the results reflect the continuing benefits of its capital allocation decisions and its ability to effectively manage its cost base. The improved results were also due to recovery in demand in the company’s European and American businesses. The company had developed new ways of working, both remotely and within their operations. It plans to use these new ways to maximize its operating efficiency and effectiveness across its plants.

The company’s Board of Directors recommended a second interim dividend of 27.9 cents per share, payable to all ordinary shareholders on 11^th December, 2020. It must be noted that the company had paid an interim dividend in the month of September this year.