Smurfit Kappa, Europe’s largest paper packaging producer has said today that it has increased volumes in the fourth quarter for last year.
As RTE News reports the increase has snapped three successive quarterly declines that led to a 12% drop in full-year core profit, as expected.
The giant packaging group with operations in most of Europe, north, central and southern America, has reported earnings before interest, tax, depreciation and amortisation (EBITDA) of €2.08 billion. The figure is broadly in line with the approximate €2.05 billion the group had forecast in November.
Last year’s profit of €2.08 billion, said Smurfit Kappa is still its second-largest profit ever and was sharply higher than €1.7 billion recorded in 2021.
In 1934 the origins of the business, Afloat adds was founded in Ireland serving the domestic market, four years later was acquired by Jefferson Smurfit and its operations quickly expanded. In 2005 Jefferson Smurfit merged with Dutch company Kappa Packaging, Europe’s largest manufacturer of corrugated and cardboard packaging, to form Smurfit Kappa with global headquarters in Dublin.
The group which also has regional HQ’s in Amsterdam and Miami, said it hopes to close an $11 billion deal to buy a US rival, WestRock in early July, thus, create the world's biggest paper and packaging group.
Volumes in Europe were flat year-on-year however figures for the Americas were up by 1.6%. For more details, click here on the latest figures.
