First Nine Months 2019 Trading Update
Smurfit Kappa has issued a trading update for the nine months ending 30th September 2019.
- Revenue growth of 3% to €6,850m
- EBITDA growth of 11% to €1,257m
- EBITDA margin of 18.3%, an increase of 140bps
For the nine months to September, Smurfit Kappa reported that it has delivered a strong performance with EBITDA up 11% year-on-year to €1,257m and its key metrics at, or ahead of, its stated targets.
In Europe, corrugated box volume growth was close to 4% year-on-year or approximately 2% on an organic basis. In the Americas, organic volume growth was approximately 2% with continued EBITDA and EBITDA margin improvement year-on-year.
Tony Smurfit, Group CEO, commented, “While there have been, and continue to be, obvious macro-economic and political challenges, SKG’s very strong performance against this backdrop shows, once again, the quality of our business and the benefits of our geographic diversity. Consumers are increasingly demanding sustainable packaging solutions and with our unique applications, knowledge and expertise in paper-based packaging we are ideally positioned to take advantage of this mega trend.”