Increase 20% price, increase earning €84 million

Smurfit Kappa Group (SKG), announcing a 20 per cent hike revenue mid August, due to input cost pressures such as raw materials, labour and energy costs. Price recovery helped earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to end June reach €221m, up from €84 million on the same period last year.

SKG chief executive Gary McGann today said that the Group’s improved EBITDA margin primarily reflects the progress in its European packaging business’ performance, supported by increasing demand growth and further advances in corrugated price recovery in that region and in Latin America.

In fact, he noted a healthy pick-up in demand across all the supplier’s key markets.

Demand recovery in the period was particularly strong in the Group’s businesses in Germany, Italy, the UK, France and Scandinavia, said SKG, and the statement pointed to SKG’s Latin American corrugated deliveries being 11 per cent higher year-on-year in quarter two, with particularly strong demand in Colombia, Mexico and Argentina.

Smurfit Kappa Group (SKG), announcing a 20 per cent hike revenue mid August, due to input cost pressures such as raw materials, labour and energy costs. Price recovery helped earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to end June reach €221m, up from €84 million on the same period last year. 
SKG chief executive Gary McGann today said that the Group’s improved EBITDA margin primarily reflects the progress in its European packaging business’ performance, supported by increasing demand growth and further advances in corrugated price recovery in that region and in Latin America. 
In fact, he noted a healthy pick-up in demand across all the supplier’s key markets. 
Demand recovery in the period was particularly strong in the Group’s businesses in Germany, Italy, the UK, France and Scandinavia, said SKG, and the statement pointed to SKG’s Latin American corrugated deliveries being 11 per cent higher year-on-year in quarter two, with particularly strong demand in Colombia, Mexico and Argentina.

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