Feb 12, 2013. /Lesprom Network/. Smurfit Kappa Group plc (SKG) announced results for the 3 months and 12 months ending 31 December 2012. At Euro 1,824 million, revenue in the 4Q 2012 was marginally higher than in 2011. With revenue boosted by a net Euro 19 million from currency movements and hyperinflationary adjustments and Euro 34 million from acquisitions, primarily OCCG, comparable revenue decreased by approximately Euro 48 million, as the company said in a press release received by Lesprom Network. Although revenue in the 4Q was only Euro 6 million lower than the Euro 1,830 million reported in the 3Q, the underlying move was a decrease in comparable revenue of Euro 38 million, the equivalent of 2%. At Euro 240 million, EBITDA in the 4Q 2012 was Euro 5 million lower, than the 4Q 2011 the equivalent of 2%. However, allowing for the positive impact of currency movements, hyperinflationary adjustments, acquisitions and closures, the underlying move was a decrease of Euro 9 million, the equivalent of 4%. Revenue for the full year 2012 fell marginally from Euro 7,357 million in 2011 to Euro 7,335 million in 2012. As was the case in the quarter, revenue was boosted by Euro 98 million in positive currency and hyperinflationary adjustments and by Euro 58 million from acquisitions net of disposals, resulting in a decrease of Euro 178 million in comparable sales year-on-year. At Euro 1,020 million, the Group’s EBITDA for the full year 2012 was Euro 5 million higher than the Euro 1,015 million reported in 2011. However, allowing for the positive impact of currency movements, hyperinflationary adjustments, acquisitions and closures, the underlying move was a decrease of Euro 14 million, the equivalent of over 1%. This decrease mainly reflected a combination of earnings growth in Europe and lower earnings in the Americas as a result of a significant decrease in the profitability of our Venezuelan operations. Operating profit after exceptional items for the year was Euro 634 million compared to Euro 590 million for 2011, an increase of approximately 8%. Profit before income tax of Euro 331 million compared to a profit before income tax of Euro 299 million last year. Gary McGann, Smurfit Kappa Group CEO commented: “Continuing our drive for earnings growth, we are pleased to report EBITDA of Euro 1,020 million with strong pre-exceptional EPS growth of 8% to 108.3 cent for the full year 2012. Notwithstanding the challenging macro environment, a robust operational performance has allowed SKG to undertake a number of financial and strategic initiatives, which have left the Group in a very good position to drive future growth and deliver increased value to shareholders. SKG continues to be the best positioned supplier of innovative, market leading paper-based packaging in its chosen markets of Europe and the Americas. The high quality of its earnings is supported by the Group’s market oriented integrated model, the substantial geographic footprint of its operations and its clear focus on customer service which allows SKG to at least meet, and in many cases define, customer needs. The recovery of only Euro 20 to Euro 30 per tonne of the Euro 100 per tonne testliner price increase sought in the fourth quarter of 2012 has resulted in the price level for these paper grades continuing at an uneconomically low level. As a result, the Group has announced a Euro 60 per tonne price increase for our recycled containerboard grades with effect from 1 February. Throughout 2012 SKG’s kraftliner operations performed well and are benefiting from price increases implemented during the year, alongside efficiency improvements.” Smurfit Kappa Group is a world leader in paper-based packaging with operations in Europe and the Americas. SKG operates in 21 countries in Europe and 11 in the Americas. SKG is the European leader in paper-based packaging including, corrugated, containerboard, bag-in-box, solidboard, and solidboard packaging.