May 04, 2012. /Lesprom Network/. Smurfit Kappa Group announced results for the three months ending 31 March 2012. At Euro 1,823 million for the 1Q 2012, sales revenue was Euro 20 million higher than in the 1Q 2011, the equivalent of 1%. However, allowing for the positive impact of currency and hyperinflation accounting of Euro 10 million, and for the positive impact of acquisitions net of disposals of Euro 8 million, the underlying sales revenue was broadly stable year on-year. Compared to the fourth quarter of 2011, sales revenue in the 1Q 2012 was marginally higher. At Euro 246 million, EBITDA in the 1Q 2012 was Euro 3 million higher than the 1Q 2011. Currency, acquisitions and disposals had a marginally positive impact. Compared to the 4Q 2011, EBITDA increased by Euro 1 million. Gary McGann, Smurfit Kappa Group CEO, commented: “We are pleased to report a relatively strong EBITDA of Euro 246 million for the 1Q. Despite significant increases in input costs and downward pressure on box prices in the period, our EBITDA margin of 13.5% reflects the efficiency of integrated system in Europe. Our Latin American businesses also continued to perform well, contributing to 23% of the Group’s overall EBITDA in the quarter. Basic EPS is 74% up compared to last year, primarily as a result of exceptional gains. Sequentially, both our basic and pre-exceptional EPS declined, largely as a result of a tax credit in the 4Q 2011. Notwithstanding increased working capital levels in the quarter, our net debt to EBITDA ratio was unchanged at 2.7x at the end of March, and well within our objective of remaining below 3.0x through the cycle. In the 1Q, we successfully completed amendments to our Senior Credit Facility, providing us with increased financial flexibility and extended debt maturities to 2016 and 2017.” Smurfit Kappa Group is a world leader in paper based packaging with operations in Europe and Latin America. Smurfit Kappa Group operates in 21 countries in Europe and is the European leader in containerboard, solidboard, corrugated and solidboard packaging and has a key position in several other packaging and paper segments.