SMURFIT KAPPA: Trading Statement
03 Noviembre 2021 - 1:00AM
UK Regulatory
TIDMSKG TIDMSK3
3 November: Smurfit Kappa Group plc ('SKG', 'Smurfit Kappa' or
'the Group') today announced a trading update for the 9 months to
30 September 2021.
First Nine Months Overview:
-- Revenue growth year-on-year of 15% to EUR7,287 million
-- EBITDA growth year-on-year of 10% to EUR1,235 million with a margin of
17%
-- Third quarter EBITDA growth year-on-year of 16% to EUR454 million
-- Issued EUR1 billion in bonds under our Green Finance Framework
Tony Smurfit, Group CEO, commented:
"I am pleased to report a strong first nine months for the Group
with corrugated growth of 9% in Europe and 11% in the Americas
versus 2020. Our integrated paper and corrugated system is
effectively sold out and I am very proud of our people who are
ensuring that customers, for the most part, are supplied securely
and efficiently despite many supply chain disruptions. Materially
higher input costs, principally, but not limited to, recovered
fibre and energy are being progressively recovered through
corrugated price increases.
"To meet growing customer demand, in the first nine months of
the year, we approved approximately EUR600 million in projects
across the Group. In our corrugated business, we have approved 48
new converting machines and six new corrugators across Europe and
the Americas. I am delighted to report that we completed the
acquisition of the Verzuolo mill in early October bringing 600,000
tonnes of paper into our integrated system. In addition, we also
approved two major paper projects in Germany and Mexico, ensuring
future security of supply to our over 65,000 customers. This
continued investment will ensure that Smurfit Kappa remains best
placed to satisfy our customers' needs with the most innovative and
sustainable packaging solutions.
"Reflecting our continuing focus on sustainability was the
recent launch of our Green Finance Framework and issuance of green
bonds of EUR500 million with a coupon of 0.5% and EUR500 million
with a coupon of 1.0%, with 8 and 12 year maturities respectively.
Setting up this framework is a further significant step in our
sustainability strategy, embedding sustainability into our capital
structure alongside our sustainability linked Revolving Credit
Facility.
"SKG continues to deliver against all performance metrics with
EBITDA for the nine months of EUR1,235 million and a margin of 17%.
This shows the continuing strength of our integrated business
model; the benefits of geographic diversity; and the quality and
dedication of the SKG team. We expect to deliver significant EBITDA
growth for the full year in line with current market expectations.
With the many growth opportunities and the significant ongoing
investment in our business, we are excited about our future
prospects."
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
36 countries and with revenue of EUR8.5 billion in 2020. We are
located in 23 countries in Europe, and 13 in the Americas. We are
the only large-scale pan-regional player in Latin America. Our
products, which are 100% renewable and produced sustainably,
improve the environmental footprint of our customers.
With our proactive 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-based 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.
We have a proud tradition supporting social, environmental and
community initiatives in the countries where we operate. Through
these projects we support the UN Sustainable Development Goals,
focusing on where we believe we can have the greatest impact.
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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.
Contacts
Ciarán Potts Melanie Farrell
Smurfit Kappa FTI Consulting
T: +353 1 202 71 27 T: +353 86 401 5250
E: ir@smurfitkappa.com E: smurfitkappa@fticonsulting.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20211103005080/en/
CONTACT:
Smurfit Kappa Group PLC
SOURCE: Smurfit Kappa Group PLC
Copyright Business Wire 2021
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