Wednesday 02 November 2022 8:38 AM
Smurfit Kappa reported revenue growth and profit growth in the first nine months 2022, as it imposes higher prices on its customers.
The Packaging companyRevenues increased 33 percent to 9.72 trillion euros, while EBITDA rose 43 percent at 1.76 billion euros.
Tony Smurfit, President at Smurfit Kappa said that the company has recouped significant cost inflation by increasing the prices of corrugated boxes.
“The investments we have made over the past years make the group more efficient than ever before with a customer-led focus on quality, innovation and sustainability. With SKG’s scope and geographical spread across 36 countries, along with several specialist companies within Group, there are still many growth opportunities.
The FTSE 100 expects full-year basic profit (EBITDA) to be €2.3 billion.
After the trading update, shares are down nearly 2 percentage points. This adds to their 30% decline for the year.
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