Smurfit Kappa reports 3Q EBITDA of Euro 243 million
Nov 11, 2010. Smurfit Kappa Group plc announced results for the 3 months and 9 months ending 30 September 2010. At Euro 243 million, EBITDA in the 3Q 2010 was Euro 51 million higher than the 3Q 2009. EBITDA of Euro 647 million in the first nine months of 2010 was Euro 92 million, or 17% higher than in the comparable period in 2009.
Nov 11, 2010. /Lesprom Network/. Smurfit Kappa Group plc announced results for the 3 months and 9 months ending 30 September 2010. At Euro 1.7 million for the 3Q 2010, sales revenue was 12% higher than in the same period last year. Allowing for the impact of currency and for the negative impact of hyperinflation accounting, revenue increased year-on year by Euro 197 million, the equivalent of approximately 13%. The net impact of acquisitions and disposals, primarily the asset swap with Mondi, was modest, company said in a statement received by Lesprom Network.
Compared to the 2Q 2010, sales revenue in the 3Q was broadly stable. When allowing for the impact of currency, hyperinflation accounting and net acquisitions, the underlying move was an increase of Euro 27 million, the equivalent of 2%.
At Euro 243 million, EBITDA in the 3Q 2010 was Euro 51 million higher than the 3Q 2009. Allowing for an Euro 8 million negative impact from currency and hyperinflation accounting, somewhat offset by a Euro 3 million benefit from the asset swap and the closure of loss making operations, the underlying increase in EBITDA was Euro 56 million, the equivalent of 29%. Compared to the 2Q 2010, EBITDA showed an underlying increase of Euro 25 million in the 3Q, the equivalent of 11%.
Revenue of Euro 4.9 billion in the first nine months of 2010 represents a 9% increase on the comparable period in 2009. The net impact of currency, hyperinflation accounting and acquisitions net of disposals and closures was negligible.
EBITDA of Euro 647 million in the first nine months of 2010 was Euro 92 million, or 17% higher than in the comparable period in 2009. Currency and hyperinflation accounting decreased comparable EBITDA by Euro 8 million, while the asset swap and closure of loss making operations added Euro 8 million. As a result, the underlying increase in EBITDA was Euro 92 million also.
Smurfit Kappa Group plc and its subsidiaries manufacture, distribute and sell containerboard, corrugated containers and other paper-based packaging products such as solidboard and graphicboard.