Smurfit Kappa's 3Q 2016 revenue was up Euro 26 million, or 1% to Euro 2,050 million. EBITDA for the 3Q 2016 was Euro 323 million, Euro 18 million higher than the same period in 2015 with earnings growth from both Europe and the Americas and lower Group centre costs. Allowing for currency movements and net acquisitions, the underlying year-on-year move in EBITDA for the quarter was an increase of Euro 27 million, or 9%, as the company said in the press release received by Lesprom Network.

Tony Smurfit, Group CEO, commented: “We are pleased to deliver good earnings growth for the quarter and the year to date. SKG continues to meet and exceed its ROCE target and has delivered improved EBITDA margins. This strong result reflects the high quality of our globally diversified operating platform, performance led culture, and the strength of our people and assets.

“In the 3Q, the Group delivered a strong 6% increase in revenue on a constant currency basis. The reported EBITDA for the quarter increased 6% year-on-year to Euro 323 million. This performance was delivered against a backdrop of significantly higher than expected recovered fibre input costs and adverse currency movements.”

Revenue of Euro 6,099 million for the first nine months of 2016 was Euro 79 million (the equivalent of over 1%) higher than Euro 6,020 million in 2015.

EBITDA for the first nine months of 2016 was Euro 916 million compared to Euro 855 million in 2015 with higher earnings in both Europe and the Americas and broadly unchanged Group Centre costs.

Smurfit Kappa is one of the leading providers of paper-based packaging solutions in the world, with around 45,000 employees in approximately 370 production sites across 34 countries.