Irish packaging company Smurfit Kappa Group has reported revenue of €9.72bn ($9.51bn) for the first nine months of fiscal 2022 (FY22), up by 33% from the same period of fiscal 2021 (FY21).
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to 30 September 2022 were €1.76bn, up 43% from a year previous.
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Its EBITDA margin also rose by 18.2% year-on-year.
Smurfit Kappa recorded a €1.14bn profit before income tax, up by 77% from €645m in the first three quarters of FY22.
The company’s operating profit before exceptional items was €1.26bn in the nine-month period, an increase of 63% from last year.
Its basic earnings per share (EPS) during this period also rose by 88% to 333.4 cents, against 177.8 cents a year earlier.
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By GlobalDataFor FY22, Smurfit Kappa expects full-year EBITDA of around €2.3bn.
Smurfit Kappa Group CEO Tony Smurfit said: “We continue to drive improvement across all areas of our business, consistent with the delivery of our strategy, providing the most innovative and sustainable packaging through our integrated business model, ensuring security of supply to our over 65,000 customers.
“Significant cost inflation is being recovered in corrugated box pricing as anticipated. Against strong comparisons, corrugated box volumes were flat for the first nine months.
“The investments we have made over the last number of years are making the Group ever more efficient with a customer-led focus on quality, innovation and sustainability.
“With (Smurfit Kappa’s) scale and geographic reach across 36 countries, together with the many specialist businesses within the Group, there remain many opportunities for growth.”
Based in Dublin, Smurfit Kappa supplies paper-based packaging to companies in 23 European countries and 13 countries in the Americas.
In September this year, the company agreed to acquire PaperBox, an industrial packaging plant in Brazil.
