Smurfit Kappa Delivers 5% Growth In First-Half Results
Smurfit Kappa showed a growth of 5% for the first six months of 2017 with 'strong demand in most markets' according to its recently published half year report, ending 30 June 2017.
Tony Smurfit, group CEO, said, that it is pleased to report a good set of results for the first half which were achieved against a backdrop of continued and unprecedented recovered fibre cost inflation of approximately €75m year-on-year.
"We are in the process of recovering these input costs as we move through the remainder of 2017 and into 2018," Smurfit said.
The paper packaging compang delivered an Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of €292 million with increased sequential EBITDA margin of 13.9%
“The Group reported sequentially improved EBITDA margins at 13.9% with both Europe and the Americas delivering improvement as a result of corrugated price recovery." Smurfit added.
The report showed that in Europe the group sawe a strong demand environment in the second quarter 'leading to a first half increase in absolute corrugated volumes of over 2.5% with growth of 5% for the second quarter on a days adjusted basis'.
The groups Interim dividend increased by 5% to 23.1% per share.
© 2017 - Checkout Magazine by Donna Ahern