Smurfit Kappa Posted Robust Corrugated Volume Surge

SEATTLE (Scrap Monster): Smurfit Kappa announced trading update, which signalled remarkable quarter for the company during the three-month period ending 31^st March, 2021. The corrugated volumes witnessed significant upsurge.

The quarter delivered structurally improved business, with 6% underlying revenue growth to €2,269 million. The company reported EBITDA of €386 million and an EBITDA margin of 17%. The accelerated revenue and earnings growth demonstrated the strength and quality of the company.

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According to Tony Smurfit, Group CEO, the company delivered strong corrugated volume growth in practically every area and all markets in which it operates. He thanked the entire team of employees for continuing to deliver in these exceptional times and ensuring security of supply to its customers. The continuous investments and acquisitions have resulted in structural improvement of the business over the past many number of years, he added.

The corrugated volume growth in both Europe and the Americas surged higher by approximately 7%. Meantime, containerboard prices too have increased significantly during the quarter.

Smurfit Kappa plans to accelerate its capital investment plans in several high return projects, including construction of mega plants and acquisition of converting machines.