Smurfit Kappa Group’s 1Q 2017 revenue of Euro 2,129 million was up Euro 128 million, or 6% on 2016. Revenues in Europe increased by Euro 43 million year-on-year, or Euro 56 million on an underlying basis. In the Americas revenues increased by Euro 85 million year-on-year, or Euro 70 million on an underlying basis, as the company said in the press release received by Lesprom Network.
EBITDA was Euro 278 million, Euro 3 million down on the same period in 2016 with earnings growth in Europe and lower Group centre costs offset by lower earnings in the Americas. The underlying quarter-on-quarter move was an increase of Euro 7 million (the equivalent of almost 3%), which arose mainly in Europe. During the quarter, the Group’s EBITDA was impacted by approximately Euro 3 million from unplanned downtime in its Facture Mill in France.
The Group also reported ROCE of 15% and its fourth consecutive 1Q of positive free cash flow. These results were driven by solid volume growth across most markets, the Group’s investment in high return capital projects and the strength of our integrated business model.
Smurfit Kappa is one of the leading providers of paper-based packaging solutions in the world.
