Smurfit Kappa Witnessed Upbeat Demand in Europe and the Americas

SEATTLE (Scrap Monster): Smurfit Kappa announced results for the full year ending 31^st December, 2020.

The company reported an EBITDA of €1,510 million for the year 2020, which is well ahead of the stated guidance. It clocked a strong free cash flow of €675 million and an ROCE of 14.6%. The EBITDA margin for the year was 17.7%. Smurfit Kappa raised the final dividend by 8% to 87.4 cent per share. The strong demand in Europe and the Americas, especially in the fourth quarter, helped to offset significantly higher input costs.

Smurfit Kappa’s European business delivered robust performance with an EBITDA of €1,180 million and EBITDA margin of 17.8%.The demand across customer base saw notable jump in the second half of the year. Meantime, the Americas region delivered an EBITDA of €372 million and a record EBITDA margin of 19.7%, mainly contributed by the company’s expanded market presence on account of recent successful acquisitions.

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Tony Smurfit, Group CEO, Smurfit Kappa acknowledged the tremendous efforts by all of its 46,000 employees during the most challenging times. He also thanked over 65,000 of the company’s customers for their continued strong support. The outlook for the industry looks increasingly positive, mainly driven by secular trends such as e-commerce and sustainability, he added.