• Sales decreased by 3% to EUR 2,721 (2,798) million. • Operational EBIT decreased by 53% to EUR 234 (503) million. • Operational EBIT margin decreased to 8.6% (18.0%). • Operating profit (IFRS) decreased to EUR 258 (394) million. • Cash flow from operations amounted to EUR 254 (403) million. Cash flow after investing activities was EUR 1 (224) million. Key highlights: • The acquisition of the Dutch De Jong Packaging Group was completed on 6 January 2023. • The Paper division was discontinued as of 1 January • The plan to divest of the Beihai site in China is proceeding according to plan. • The consumer board investment at the Oulu site in Finland is moving ahead according to schedule. Construction estimated to start during 2024, start of production expected during 2025.
Today we announce a series of ambitious climate targets. This includes a science-based target which requires at least a 40% reduction of CO2 emissions per tonne of product by 2030, compared to 2019 levels, and a commitment to reach Net Zero* emissions by 2050.
These targets will be validated by the Science Based Targets initiative** as being in line with the goals of the Paris Agreement. To further underline our ambition and commitment, we are also announcing our membership of the UN’s Race to Zero.
“I’m delighted DS Smith has joined the UN’s Race to Zero. It is great to see a company with an ambitious 2030 target and commitment to reach Net Zero by 2050. DS Smith is making great progress against its previous carbon reduction targets, tackling the challenges associated with decarbonising the paper and packaging sector. Business plays a key role in driving the UK’s transition to a low carbon economy, with over 40 of the FTSE100 now signed up to the UN’s Race to Zero, I hope this announcement inspires other companies in the sector to take action.” — Andrew Griffith MP, former business advisor to the PM and current UK Net Zero Business Champion
In 2017, we announced our target to reduce carbon emissions per tonne of product by 30% by 2030 against a 2015 baseline. As part of a coordinated effort across our 250 sites globally, we have achieved a 23% reduction by the end of 2020, placing us well ahead of our plans.
It is widely recognized that the paper and packaging industries are some of the hardest sectors to de-carbonise, but we are committed to playing our part by taking action to Net Zero with a clear plan and roadmap. We make sustainable packaging that is fibre-based and fully recyclable and believe that through combined leadership in the circular economy and climate action, we are uniquely positioned to have a real impact in helping to reduce the rise in global temperatures.
more at source: https://www.dssmith.com/media/newsroom/2021/6/net-zero-emissions-by-2050