Aug 22, 2015. /Lesprom Network/. Smurfit Kappa Group’s revenue for the 2Q increased by Euro 19 million from Euro 2,015 million in 2014 to Euro 2,034 million in 2015 with higher revenue in Europe partly offset by a reduction in the Americas, primarily as result of the impact of its adoption of the Simadi exchange rate for the translation of the Group’s Venezuelan operations. However, the underlying year-on-year increase in revenue was Euro 62 million, the equivalent of 3%, as the company said in the press release received by Lesprom Network.

EBITDA for the 2Q 2015 was Euro 285 million, Euro 10 million lower year-on-year primarily due to significantly lower earnings in Venezuela following the adoption of the Simadi exchange rate for the Bolivar.

At Euro 183 million, operating profit before exceptional items for the 2Q 2015 was Euro 11 million lower year-on year, with a higher gross profit more than offset by higher net operating expenses during the quarter.

Revenue for the half year grew by Euro 49 million from Euro 3,947 million in 2014 to Euro 3,996 million in 2015 with higher revenue in Europe partly offset by a reduction in the Americas, reflecting the impact of adopting the Simadi exchange rate.

EBITDA for the first half of 2015 decreased by Euro 13 million to Euro 551 million with a decrease in the Americas, partly offset by higher earnings in Europe. Allowing for currency movements and net acquisitions, the underlying year-on-year move in EBITDA was an increase of Euro 8 million with a gain of Euro 10 million in Europe partly offset by lower earnings in the Americas and slightly higher Group Centre costs.

Operating profit before exceptional items for the half year was Euro 348 million, compared to Euro 363 million for the same period in 2014, a decrease of 4%.

The Smurfit Kappa Group is Europe's leading corrugated packaging company and one of the leading paper-based packaging companies in the world.