SMURFIT KAPPA: Smurfit Kappa 2021 First Quarter Trading Update
30 Abril 2021 - 1:00AM
UK Regulatory
TIDMSKG TIDMSK3
30 April: Smurfit Kappa Group plc ('SKG', 'Smurfit Kappa' or
'the Group') today announced a trading update for the 3 months to
31 March 2021.
First Quarter Overview -- a structurally improved business,
delivering:
-- Underlying Revenue growth of 6% to EUR2,269 million
-- EBITDA of EUR386 million
-- EBITDA Margin of 17.0%
Tony Smurfit, Group CEO, commented:
"The first quarter was remarkable in many ways. We had strong
corrugated volume growth in practically every area and all markets
in which we operate. With unprecedented industry wide shortages of
supply and input cost pressures, paper prices have moved up
sharply. We are recovering these input costs in line with our
expectations. Against this backdrop, I am very proud of our team
who have continued to deliver in these exceptional times, ensuring
security of supply to our customers while also continuing to
support them through our approach to innovation and our sustainable
packaging products. Smurfit Kappa has, over the last number of
years, through continuous investment and acquisitions, structurally
improved the business for the benefit of all stakeholders.
"I am also happy to report that both Moody's and Standard &
Poor's have recently upgraded our long-term issuer rating to Baa3
and BBB- respectively, in addition to Fitch's BBB- rating.
"Our strong first quarter performance has set the foundation for
accelerated revenue and earnings growth as we move through 2021.
This performance and these prospects reflect the strength and
quality of Smurfit Kappa."
Performance Overview
Corrugated volume growth in the first quarter was up
approximately 7% in both Europe and the Americas. This demonstrates
SKG's exposure to high-growth markets, sectors and channels
including innovative and sustainable packaging solutions and
e-commerce.
Containerboard prices have increased in the first quarter and
again at the start of the second quarter as a result of strong
demand and higher recovered fibre and other costs. SKG's recovered
fibre cost has increased by approximately EUR90 million versus the
first quarter of last year. We are progressively recovering these
input costs through our corrugated box system.
In addition to cost pressures, the industry is experiencing
supply disruptions and shortages of packaging papers globally.
Against this market backdrop, our integrated business model is
again, proving a key differentiator with continuity of supply to
our customer base.
Our Better Planet Packaging initiative continues to drive
significant interest among our customer base with over 2,700
attendees joining our biennial conference in March. The increased
value and application of corrugated as the most sustainable
merchandising and transport medium is evermore apparent. This will
remain a strong driver of future growth as paper is renewable,
recyclable and biodegradable and the product of choice by consumers
for a more sustainable world.
We are accelerating our capital investment plans with many high
return projects that will enhance shareholder returns. These
include the construction of mega plants and the acquisition of many
converting machines in order to meet our customers' demand growth
and continue our cost optimisation programmes. In addition, a
number of paper investments are being deployed to further
strengthen our integrated model and improve our sustainability
footprint.
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 EUR8.5 billion in 2020. 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.
Follow us on LinkedIn Twitter Facebook YouTube
smurfitkappa.com
Forward Looking Statements
This Announcement contains certain statements that are
forward-looking. Forward-looking statements are prospective in
nature and are not based on historical facts, but rather on current
expectations of the Group about future events, and involve risks
and uncertainties because they relate to events and depend on
circumstances that will occur in the future. Although the Group
believes that current expectations and assumptions with respect to
these forward-looking statements are reasonable, it can give no
assurance that these expectations will prove to be correct. There
are a number of factors that could cause actual results and
developments to differ materially from those expressed or implied
by the forward-looking statements. Forward-looking statements
should therefore be construed in the light of such factors. You are
cautioned not to place undue reliance on any forward-looking
statements, which speak only as of the date made. Other than in
accordance with legal or regulatory obligations, the Group is not
under any obligation, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
The forward-looking statements in this document do not constitute
reports or statements published in compliance with any of
Regulations 6 to 8 of the Transparency (Directive 2004/109/EC)
Regulations 2007.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210429006190/en/
CONTACT: Smurfit Kappa Group PLC
Garrett Quinn
Smurfit Kappa
T: +353 1 202 71 80
E: ir@smurfitkappa.com
Melanie Farrell
FTI Consulting
T: +353 86 401 5250
E: smurfitkappa@fticonsulting.com
SOURCE: Smurfit Kappa Group PLC
Copyright Business Wire 2021
(END) Dow Jones Newswires
April 30, 2021 02:00 ET (06:00 GMT)
Smurfit Kappa (LSE:SKG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Smurfit Kappa (LSE:SKG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024