Aug 12, 2010. /Lesprom Network/. Smurfit Kappa Group’s improved EBITDA margin of 13.0% in the 2 Q primarily reflects the progress in its European packaging business’ performance, supported by increasing demand growth and further advances in corrugated price recovery. The profitability of the Group’s Specialties business improved in the 2Q compared to the 1Q following the divestment of its sack converting business in May. A further Euro 25 million of cost take-out also contributed to the Group’s enhanced performance in the 2Q, the company said in a statement received by Lesprom Network. At Euro 1,696 million for the 2Q 2010, sales revenue was 13% higher than in the 2Q 2009. However, allowing for a positive impact of currency of Euro 15 million and for a net decrease resulting from the asset swap and plant closures of Euro 2 million, adjusted revenue shows an underlying increase of Euro 86 million, the equivalent of approximately 12%. Compared to the 1Q 2010, sales revenue in the 2Q was Euro 166 million higher (11%). At Euro 221 million, EBITDA in the 2Q 2010 was Euro 37 million higher than the 2Q 2009. Exceptionals charged within operating profit in the 2Q amounted to Euro 42 million, of which approximately Euro 40 million related to the asset swap completed in May, and Euro 2 million related to hyperinflationary adjustments in respect of the currency loss recorded in Venezuela in the first quarter. There were no exceptional costs charged within the operating profit in the equivalent period in 2009. At Euro 77 million, operating profit after exceptional items for the 2Q 2010 was Euro 10 million lower than in 2009, a decrease of approximately 12%. Revenue of Euro 3.2 billion in the first half of 2010 represents a 7% increase on the first half of 2009. Allowing for a positive currency impact of Euro 7 million, and for a decrease of Euro 9 million from the asset swap and plant closures, revenue shows an underlying increase of Euro 226 million (8%). EBITDA of Euro 404 million in the first half of 2010 was Euro 41 million, or 11% higher than in the comparable period in 2009. Operating profit after exceptional items for the half year was Euro 150 million, compared to Euro 170 million for the same period in 2009. Smurfit Kappa Group produces containerboard, solidboard, corrugated and solidboard packaging and has a key position in several other packaging and paper market segments, including graphicboard and sack paper.