Smurfit Kappa positions itself for ‘mega trend’ in sustainable packaging
Packaging group announces 11 per cent jump in earnings for nine months to end of September
Smurfit Kappa chief executive Tony Smurfit. Photograph: Brenda Fitzsimons / IRISH TIMES
Packaging group Smurfit Kappa says it is “ideally positioned” to capitalise on the shift to more sustainable packaging, which it described as a “mega trend” in the industry.
As more and more firms announce plans to switch to more recycable packaging options, the FTSE 100 company is endeavouring to position itself as a leader in the area.
“ 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,” chief executive Tony Smurfit said as the company posted an 11 per cent jump in earnings for the nine months to the end of September.
In a trading update, Smurfit Kappa said earnings before interest, taxes, depreciation, and amortisation (EBITDA) were €1.26 billion for the period. It also saw revenue grow by 3 per cent to €6.85 billion during the nine-monthperiod.
In Europe, the company’s corrugated box volume growth was close to 4 per cent year-on-year or 2 per cent on an organic basis. The company said corrugated pricing has again been “in line with expectations”.
In the Americas, organic volume growth was approximately 2 per cent. “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,” Mr Smurfit said.