DS Smith Records Robust Operational Performance in Full Fiscal Year 2018/19

SEATTLE (Scrap Monster): DS Smith Plc announced strong operational performance during the full fiscal year 2018/19, boosted by volume growth in all regions and continued success of its US operations. This outclassed the volume weakness in certain export-led markets including Germany during the second half of the fiscal.

The company developed its strategic position in Europe. The return on sales margins at 10.2% hit new record. The fiscal year saw acquisition of Europac, which concluded during the month of January this year. The company’s North America operations too have continued to perform ahead of plan. DS Smith has also reached an agreement with Stamford, Connecticut-based private equity firm Olympus Partners to sell its Plastics division.

The organic corrugated box volumes surged higher by 2.4% during the entire year. Strong regional volumes were recorded in the UK and in the Central Europe and Italy. The Europac acquisition contributed significantly to the full year revenue growth of 12%. The adjusted earnings per share and the adjusted operating profit from continuing operations increased by 8% and 28% respectively, when matched with the prior fiscal.

Commenting on the results, Miles Roberts, Group Chief Executive said that the strong set of results demonstrates the company’s growing scale and strategic progress in key markets. It gained market share throughout Europe, especially among more resilient FMCG customers. Also, the recent acquisition has resulted in healthy U.S. business, he added.