(Alliance News) - Dublin-headquartered packaging firm Smurfit Kappa PLC on Wednesday said it delivered a "strong performance" in the year-to-date.
For the nine months to September 30, revenue was up 3% to EUR6.85 billion and earnings before interest, tax, depreciation and amortisation 11% higher at EUR1.26 billion. The firm's Ebitda margin increased 140 basis points to 18.3%.
Key metrics have been at, or ahead of, stated targets, said Smurfit. This performance "continues to demonstrate the strength and resilience of the group's business model", the company said.
In Europe, Smurfit's corrugated box volume growth was "close to" 4% year-on-year, or 2% on an organic basis. Corrugated pricing has been in line with expectations, the firm noted. In the Americas, organic volume growth was 2%, with "continued" Ebitda and margin improvement.
"While there have been, and continue to be, obvious macro-economic and political challenges, SKG's very strong performance against this backdrop shows, once again, the quality of our business and the benefits of our geographic diversity," said Chief Executive Tony Smurfit.
"Consumers are increasingly demanding sustainable packaging solutions and with our unique applications, knowledge and expertise in paper-based packaging we are ideally positioned to take advantage of this mega trend," he noted.
By Lucy Heming; lucyheming@alliancenews.com
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Smurfit Kappa (SKG)