Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Packaging And Design

Smurfit Kappa Sees 8% EBITDA Rise In First Half

Smurfit Kappa Group has posted an EBITDA increase of 8% in the first half of the year, according to a results statement issued this morning (27 July).

The packaging giant said that it saw global corrugated packaging growth of 5% in the first half, as well as ‘solid organic volume growth’.

“We are pleased to deliver a strong first half result with EBITDA growth of 8% to €593 million,” commented Tony Smurfit, group chief executive.

“In Europe, we have delivered an improved earnings performance in the first half, with organic box volume growth of 2% and a relatively stable pricing environment in local currency terms. This result has been achieved despite higher than expected OCC costs, while negatively impacting our margin in the short-term, should provide a solid underpin to containerboard pricing and, in turn, box prices.”

Smurfit added that the group is “well positioned for growth and business development. We are a clear market leader, in a growth industry, with a continuously improving business model. SKG continues to build balance sheet strength which increases the range of strategic and financial options open to us.”

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days