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Latest results

13 February 2019: Smurfit Kappa Group plc announced results for the full year ending 31 December 2018.

Key Points

  • Record performance across key measures

– Revenue growth of 4%, with an underlying increase of over 7%
– EBITDA of €1,545 million, a 25% improvement. Group EBITDA margin of 17.3%
– Pre-exceptional basic EPS up 58%
– Strong free cash flow of €494 million, an increase of 61%
– ROCE of 19.3%
– Net debt to EBITDA ratio of 2.0x

  • Significant acquisition activity with acquisitions in France, the Netherlands and Serbia
  • Refinancing of senior credit facility and bond issuance of €1 billion
  • Proposed final dividend increase of 12% to 72.2 cent per share

Performance Review and Outlook

Tony Smurfit, Group CEO, commented:

“Our 2018 performance demonstrates the Group’s transformation of recent years, which is delivering progressively superior returns. This creates the platform for success in 2019 and beyond. The Group delivered on or exceeded its key measures. This reflects our market-leading positions, our innovation capability and investment decisions. Above all else, it reflects an unrelenting focus on delivering value to our customer base, a performance-led culture and the quality of our people. EBITDA of €1,545 million is materially better than 2017, representing a 25% increase, with a corresponding EBITDA margin of 17.3%. Read more