Market: Packaging Paper & Board
14 November, 22:53
Smurfit Kappa Group (SKG) reported EBITDA for the 3Q 2017 of Euro 320 million, Euro 3 million down on the same period last year. EBITDA margin of 15.1% for the 3Q has improved from 13.9% in the 2Q and 13% in the 1Q, driven by better margins in both Europe and the Americas, as the company said in the press release received by Lesprom Network.
For the 3Q 2017, revenue was Euro 2,121 million, up 4% on the same period last year, or 7% on an underlying basis.
Tony Smurfit, Group CEO, commented: “SKG continues to deliver, showing strong sequential progress with Group EBITDA margin at 15.1% for the quarter. Total Group corrugated volumes grew 3% for the quarter. Corrugated volumes in Europe improved by 4% on a days-adjusted basis with strong demand in most areas of activity. In the Americas demand growth was 3% with growth in most markets.”
Revenue for the first nine months of 2017 was Euro 6,354 million, Euro 255 million, or 4% higher than last year, with Europe higher by Euro 135 million and the Americas higher by Euro 120 million.
EBITDA for the first nine months of 2017 was Euro 889 million, Euro 27 million down on the same period in 2016, with lower earnings in both Europe and the Americas partly offset by marginally lower Group centre costs.
Smurfit Kappa is one of the leading providers of paper-based packaging solutions in the world.