Smurfit Kappa’s first half profit up 50 percent

Paper packaging giant Smurfit Kappa posted a rise in profit and sales in the first half.

Listed in Dublin, the group achieved sales of 6.39 billion euros for the six months ended June 30th. Compared to the previous year, this means an increase of 36%.

Smurfit Kappa’s earnings before interest, taxes, depreciation and amortization (EBITDA) for the first half of 2022 rose 50 percent year-on-year to €1.17 billion, with a margin of 18.4 percent.

The group said it also overcame “many challenges” in the first half of the year, including rising input costs, logistics and supply chain disruptions, and the impact of the Ukraine war. It added that its geographic diversity, ongoing investments and recovery in paper and corrugated board prices have helped the company offset those issues.

In the first half, the company completed the acquisition of two corrugated converting plants in the UK and Argentina and the development of its new corrugated plant in Morocco.

“At Smurfit Kappa we are very confident about our future prospects. With the current global issues surrounding us, there are bound to be greater uncertainties than we have seen in some time,” said Group Chief Executive Tony Smurfit.

“Our performance in the first half has laid a strong foundation for the rest of 2022 and beyond,” he added.

As a result of this achievement, the board has now approved an 8 percent increase in the interim dividend to 31.6 cents per share.

https://www.independent.ie/business/irish/smurfit-kappa-first-half-profit-rises-by-50pc-41870984.html Smurfit Kappa’s first half profit up 50 percent

Fry Electronics Team

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