Corrugated packaging company Smurfit Kappa Group (SKG) has reported total revenue of €5.83bn ($6.39bn) in the first half (H1) of financial year 2023 (FY23), down 9% from €6.38bn in the same period FY22.

The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the period declined by 5% to €1.11bn, affected by lower earnings in Europe.

Its EBITDA margin was 19.1% in H1 FY23, up from 18.4% in the first half of 2022.

For the period ending 30 June 2023, operating profit before exceptional items was €779m, which is 7% below the prior year’s figure of €839m.

The company’s profit for H1 FY22 was €476m against €574m in H1 FY22.

Its basic earnings per share was 184 cents in Q2 FY23, from 221.9 cents a year ago. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Smurfit Kappa CEO Tony Smurfit said: “We are pleased to deliver an excellent outcome against a challenging macro backdrop with a strong first-half performance. In a declining volume environment this reflects both the quality and resilience of SKG’s integrated and geographically balanced business model.

“Although volumes declined by 6% in the first half, we saw market share gains across many of the countries in which we operate, and encouragingly, in Europe, during the second quarter, we saw our shipments per day improve on the previous three quarters.

“The steps we have taken and continue to take, have positioned SKG for long-term growth. These include expanding our geographic reach and product portfolio, our unrelenting focus on customer-led innovation and promoting our product’s natural sustainable advantage to advance new growth opportunities. Additionally, through our integrated model, customers benefit from security of supply even in the most challenging market conditions.”

Last month, Smurfit Kappa expanded its operations in Africa with the launch of a new integrated corrugated plant in Rabat, Morocco.