Smurfit Kappa: First Quarter 2022 Trading Update

First Quarter Overview
*Revenue growth of 33% to €3,024 million
*EBITDA growth of 33% to €514 million with an EBITDA margin of 17%
*Corrugated box growth of 3.6%
*Significant, ongoing capital investment to support customer growth and security of supply
*Sets a strong foundation for 2022

Tony Smurfit, Group CEO, commented: “I am pleased to report that we continue to deliver for our customers and against all performance measures. During the first quarter revenue grew by 33% on the first quarter of 2021, with EBITDA of €514 million and an EBITDA margin of 17%.

“This performance demonstrates the continuing benefits of SKG’s integrated and resilient operating model, our geographic diversity and recent acquisitions. It also reflects the significant investment SKG has made, and continues to make, to support our customers’ growth. Our ability to provide security of supply to customers and deliver market-leading, innovative and sustainable packaging solutions is a clear differentiator for SKG.

“The first quarter presented a number of significant operational challenges. Practically all input costs have risen sharply and already tight markets and supply chains have been exacerbated by the war in Ukraine. Our integrated and resilient business model has ensured security of supply in this increasingly complex environment. I am deeply proud of how our people have responded and are delivering for customers in these exceptional times.”

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