Smurfit Kappa GrpPLC Trading Statement
03 May 2019 - 4:00PM
UK Regulatory
TIDMSKG
3 May: Smurfit Kappa Group plc ('SKG', 'Smurfit Kappa' or 'the
Group') today announced a trading update for the 3 months ending 31
March 2019.
First Quarter Overview
-- Revenue growth of 7% to EUR2,316 million
-- EBITDA growth of 25% to EUR424 million
-- EBITDA margin of 18.3%
Performance Review
Smurfit Kappa has delivered a very strong first quarter
performance with EBITDA up 25% year-on-year to EUR424 million. The
improved result reflects higher corrugated pricing, demand growth,
a relentless focus on cost efficiencies and the benefits of our
capital programme.
In Europe, SKG's first quarter organic corrugated volume growth
was 2% year-on-year, against a strong 2018 comparison, with
corrugated pricing in line with expectations. In the Americas,
organic volume growth was 3% year-on-year with especially pleasing
performances in our three largest countries: Colombia, Mexico and
the US.
During the quarter, the Group completed acquisitions in Bulgaria
and Serbia, further expanding its geographic reach.
The Group continues to progress its industry leading Better
Planet Packaging initiative, working with brand owners, retailers
and designers to develop the most sustainable, biodegradable and
innovative packaging solutions for our customers. SKG will shortly
host its biennial innovation event which will be attended by over
350 global customers. Better Planet Packaging will be the
cornerstone of that event.
Tony Smurfit, Group CEO, commented:
"The Group has had an excellent start to the year building on
our established strengths of customer-focused innovation, our
integrated operating model, and our ever expanding geographic
reach.
"While there is invariably political and economic risk, we
confidently expect to deliver another year of progress."
About Smurfit Kappa
Smurfit Kappa, a FTSE 100 company, is one of the leading
providers of paper-based packaging solutions in the world, with
approximately 46,000 employees in over 350 production sites across
35 countries and with revenue of EUR8.9 billion in 2018. We are
located in 23 countries in Europe, and 12 in the Americas. We are
the only large-scale pan-regional player in Latin America.
With our pro-active team, we relentlessly use our extensive
experience and expertise, supported by our scale, to open up
opportunities for our customers. We collaborate with
forward-thinking customers by sharing superior product knowledge,
market understanding and insights in packaging trends to ensure
business success in their markets. We have an unrivalled portfolio
of paper-packaging solutions, which is constantly updated with our
market-leading innovations. This is enhanced through the benefits
of our integration, with optimal paper design, logistics,
timeliness of service, and our packaging plants sourcing most of
their raw materials from our own paper mills.
Our products, which are 100% renewable and produced sustainably,
improve the environmental footprint of our customers.
smurfitkappa.com
Check out our microsite: openthefuture.info
Follow us on Twitter at @smurfitkappa and on LinkedIn at
'Smurfit Kappa'.
Forward Looking Statements
Some statements in this announcement are forward-looking. They
represent expectations for the Group's business, and involve risks
and uncertainties. These forward-looking statements are based on
current expectations and projections about future events. The Group
believes that current expectations and assumptions with respect to
these forward-looking statements are reasonable. However, because
they involve known and unknown risks, uncertainties and other
factors, which are in some cases beyond the Group's control, actual
results or performance may differ materially from those expressed
or implied by such forward-looking statements.
Contacts
Garrett Quinn Melanie Farrell
Smurfit Kappa FTI Consulting
T: +353 1 202 71 80 T: +353 1 765 08 00
E: ir@smurfitkappa.com E: smurfitkappa@fticonsulting.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190502005890/en/
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May 03, 2019 02:00 ET (06:00 GMT)
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