Smurfit Kappa sees strong performance in 2022

Revenue at Smurfit Kappa rose 33 per cent in the first nine months of 2022, the packaging group said on Wednesday, as the company delivered a strong performance for the year to date.

By September 30th revenue had exceeded €9.7 billion, while earnings before interest, taxation, depreciation and amortisation (Ebitda) was up 43 per cent year on year to €1.77 million. Ebitda margin was 18.2 per cent.

Profit before tax was €1.14 billion for the period, up 77 per cent on the same period in 2021.

“We continue to drive improvement across all areas of our business, consistent with the delivery of our strategy, providing the most innovative and sustainable packaging through our integrated business model, ensuring security of supply to our over 65,000 customers,” said chief executive Tony Smurfit.

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“The investments we have made over the last number of years are making the group ever more efficient with a customer-led focus on quality, innovation and sustainability. With SKG’s scale and geographic reach across 36 countries, together with the many specialist businesses within the group, there remain many opportunities for growth.”

The company said significant cost inflation is being recovered in corrugated box pricing as anticipated. Corrugated box volumes were flat for the first nine months, but that was against a strong comparison period.

Smurfit said it expects to deliver Ebitda of approximately €2.3 billion for the full year.