Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Smurfit Kappa FY earnings drop but volumes return to growth in Q4

(Sharecast News) - Smurfit Kappa posted a drop in full-year earnings and revenue on Wednesday amid a "difficult" demand environment, but said that volumes returned to growth in the fourth quarter. In the year to the end of December 2023, earnings before interest, tax, depreciation and amortisation fell 12% to €2.08bn with revenues also down 12%, at €11.27bn.

The company - which announced last year that it had agreed to merge with WestRock to form one of the largest packaging groups in the world - said basic earnings per share declined to 293.5 cents from 365.3 cents.

Chief executive Tony Smurfit said: "The demand environment for the industry in 2023 was difficult primarily due to destocking and a lack of economic activity in certain sectors, particularly durable goods.

"However, one trend in which we have seen strong acceleration, is an increasing demand for sustainable packaging solutions," said chief executive Tony Smurfit.

"While full year volumes for the group were down 3.5%, we saw a progressive improvement in demand during the year, with a return to growth in the fourth quarter."

Shares in the corrugated packaging company were up 4.8% at 3,008p at 1140 GMT.

Share this article

Related Sharecast Articles

Checkit secures three contract wins, launches new product
(Sharecast News) - Software solutions firm Checkit said on Monday that it has secured new contract wins from two existing customers worth a minimum of £417,000 in total lifetime revenues over their three-year terms.
CyanConnode gets big order from IntelliSmart
(Sharecast News) - Narrowband radiofrequency and smart mesh network technology specialist CyanConnode announced receiving an order for 265,331 Omnimesh modules from Madhyanchal One Infrastructure on Monday, a subsidiary of IntelliSmart Infrastructure.
Getech secures three separate contract wins
(Sharecast News) - Subsurface resources locator Getech said on Monday that it had secured three separate contract wins related to the exploration of natural hydrogen.
Getech secures three separate contract wins
(Sharecast News) - Subsurface resources locator Getech said on Monday that it had secured three separate contract wins related to the exploration of natural hydrogen.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.