Smurfit Group reported EBITDA for the quarter of Euro 351 million, Euro 31 million up on the same period last year. EBITDA in Europe was Euro 41 million higher, offset by a fall of Euro 11 million in the Americas with lower Group Centre costs. The underlying1 move in EBITDA was an increase of 15%, reflecting higher earnings in both regions, as the company said in the press release received by Lesprom Network.
Revenue for the 4Q 2017 was Euro 2,208 million, up 7% on the same period last year, or 9% on an underlying basis. Revenue in Europe was up 8%, or Euro 124 million, driven predominantly by underlying revenue growth with a small contribution from acquisitions. Revenue in the Americas was up 4%, or Euro 24 million with underlying revenue growth of 14%.
Financial performance revenue for the full year was Euro 8,562 million, up 5% on the same period last year, or 6% on an underlying basis. Revenue in Europe was up Euro 258 million or 4%, driven predominantly by underlying revenue growth. Revenue in the Americas was up 7% or Euro 145 million with underlying revenue growth of 12%.
EBITDA for the full year was Euro 1,240 million, Euro 4 million ahead of 2016, with higher earnings in Europe and lower Group centre costs partly offset by lower earnings in the Americas.
Smurfit Kappa Group is one of the world’s largest manufacturers of paper-based packaging products, with operations in Europe and the Americas.
