Smurfit Kappa's Demand and Volume Surged in Europe and the Americas

SEATTLE (Scrap Monster): Smurfit Kappa Group plc. announced trading update for the three-month period ending 31st March, 2024.

According to company press release, it reported a revenue of €2.7 billion for the first quarter of the financial year FY24. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at €487 million. The company reported an EBITDA margin of 18% during the quarter.

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Smurfit Kappa noted that the positive growth is mainly attributed to the continued growth in corrugated box volume. The volume growth were much in line with expectations. The box demand witnessed notable improvement. Consequently, the volumes in Europe and the Americas registered growth by approximately 2% and 3% respectively.

Commenting on the results, Tony Smurfit, Group CEO, Smurfit Kappa noted that the company delivered a very strong first quarter, supported by its multi-year capital plans and the hard work of its highly dedicated employees in delivering sustainable and innovative packaging solutions to its customers. The proposed integration with WestRock is progressing well and the transaction is expected to be completed in early-June this year, he added.

Smurfit Kappa operates nearly 350 production sites across 36 different countries, providing employment to as many as 47,000 people.