Feb 14, 2008. /Lesprom.com/. Smurfit Kappa Group plc (SKG), one of the world’s largest integrated manufacturers of paper-based packaging products, announced results for the 3 months and 12 months ending 31 December, 2007. EBITDA of Euro 1,064 million represents a 20% year-on-year increase, full year free cash flow of Euro 186 million, merger target of Euro 160 million exceeded ahead of schedule - increased target to Euro 180 million, SKG reported. Gary McGann, Smurfit Kappa Group CEO, commented: "We are pleased to report strong earnings growth for 2007. This is the Group's first full year financial performance since its successful IPO in March, 2007. SKG has delivered EBITDA growth within the range of expectations set at IPO, industry leading margins and has exceeded both its leverage and synergy objectives. This strong performance reflects a generally positive price environment in Europe, the continuing drive to maximise the benefits of the merger and a strong contribution from the Group's Latin American businesses. Despite the uncertain economic outlook, our operations have performed well year to date in an operating environment where supply and demand are reasonably balanced. Assuming current market conditions prevail, SKG expects modest EBITDA growth for 2008 together with continuing strong free cash flow generation.” Smurfit Kappa Group is a world leader in paper-based packaging with operations in Europe and Latin America.