Smurfit Kappa Announced Key Trading Update for Q1 2022

SEATTLE (Scrap Monster): Smurfit Kappa Group plc announced trading update for the three-month period ended 31 March, 2022.

The company reported revenue of €3,024 million, significantly higher by 33% over the prior year quarter. The EBITDA totalled €514 million in Q1 2022, higher by 33% year-on-year. Also, it reported an EBITDA margin of 17%. The first quarter results set a strong foundation for 2022, noted the company. Furthermore, it reiterated its commitment to significant, ongoing capital investment to support customer growth and security of supply.

Smurfit Kappa posted corrugated box growth of 3.6%. The box growth for the European and Americas regions stood at nearly 3% and 6% respectively. The paper and corrugated operations by the company recorded robust performance across all regions. In addition, the specialty business areas witnessed strong recovery and growth.

As it enters the second quarter, the demand continues to remain good. The company expressed confidence in the future prospects of its businesses.

Tony Smurfit, Group CEO, Smurfit Kappa said that he is pleased that the company has delivered against all performance measures. The performance demonstrates the continuing benefits of SKG’s integrated and resilient operating model, its geographic diversity and recent acquisitions, including that of Argencraft, a corrugated facility located in Buenos Aires, Argentina, he added.

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