30th October 2019 | Smurfit Kappa Group plc announced announced a trading update for the 9 months ending 30 September 2019.
Smurfit Kappa Group plc (‘SKG’, 'Smurfit Kappa' or ‘the Group’) today announced a trading update for the 9 months ending 30 September 2019.
First Nine Months Overview
- Revenue growth of 3% to €6,850 million
- EBITDA growth of 11% to €1,257 million
- EBITDA margin of 18.3%, an increase of 140bps
For the nine months to September, Smurfit Kappa has delivered a strong performance with EBITDA up 11% year-on-year to €1,257 million and our key metrics at, or ahead of, our stated targets. This performance continues to demonstrate the strength and resilience of the Group’s business model.
In Europe, SKG’s corrugated box volume growth was close to 4% year-on-year or approximately 2% on an organic basis. Corrugated pricing has again been in line with our expectations.
In the Americas, organic volume growth was approximately 2% with continued EBITDA and EBITDA margin improvement year-on-year.
SKG has continued to effectively manage its capital structure. Building on the €400 million add-on to the June 2018 bond in January of this year, SKG issued an 8-year, €750 million bond in September at a coupon of 1.5%. This has resulted in both an extended maturity profile and a lower average interest rate for the Group. Read more