Smurfit Kappa Announced Trading Update for First Nine Months in 2022
Paper Recycling | 2022-11-03 12:48:14
The corrugated box pricing absorbed much of the cost inflation.
By Paul Ploumis
SEATTLE (Scrap Monster): Smurfit Kappa Group plc announced trading update for the initial nine-month period ended 30th September, 2022.
The company reported strong revenue growth of almost 33% year-on-year to total €9,724 million. The EBITDA for the period was €1,767 million, recording robust growth by 43% over the corresponding period a year before. Also, EBITDA margin for the nine-month period stood at 18.2%. Meantime, the company expects to deliver EBITDA of nearly €2.3 billion during the entire year 2022.
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The corrugated box pricing absorbed much of the cost inflation. Meantime, the corrugated box volumes remained flat during Jan-Sep ’22.
The trading update noted that the ongoing capital investment programs by the company will optimise its system and deliver significant benefits to customers.
Tony Smurfit, Group CEO noted that the company delivered very strong performance in the first nine months of 2022. It delivered continued improvement across all areas of the business, thus reflecting the successful delivery of its strategy and the steps taken by it over the past several years to improve the quality of its business. The company ensured secured supply of innovative and sustainable packaging solutions to over 65,000 of its customers around the world, he added.
