Packaging firm Smurfit Kappa has seen its full year revenues on a constant currency basis rise by 5%, according to results published this morning (8 February).
The Dublin-based group's EBITDA stood at €1.23 billion, with an EBITDA margin of 15.1%, 'driven by solid volume growth across our markets, resilient box pricing and the Group's investment in high return capital projects,' it said.
In December, Smurfit Kappa was admitted to the FTSE 100 Index, which supports its 'vision of being a globally recognised and respected business delivering both secure and superior returns for all stakeholders'.
"These strong results against most performance metrics were delivered despite the significant headwinds experienced by the Group in higher raw material input costs and adverse currency impacts," said Tony Smurfit, chief executive. "This once again highlights the strength of the Group's integrated business model, our geographically diverse portfolio of businesses and our performance based culture."
Smurfit added that in 2016, the group invested around €500 million in its operations, as it seeks to "enhance operating efficiency, optimise our asset base and continuously improve our market positioning across Europe and the Americas enabling us to deliver added value to our customers."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up for ESM: The European Supermarket Magazine.
