# Smurfit Kappa Group achieves revenue growth year-on-year of 15% to €7,287 million

- Link: https://www.directorstalkinterviews.com/smurfit-kappa-group-achieves-revenue-growth-year-on-year-of-15-to-e7287-million/4121031355
- Published: 2021-11-03T07:24:46+00:00
- Author: Amilia Stone

**[Smurfit Kappa Group plc](https://www.directorstalkinterviews.com/ftse-company/smurfit-kappa-group/skg.l)**(
LON:SKG) has announced a trading update for the 9 months to 30 September 2021.

**First Nine Months Overview:**

 * Revenue growth year-on-year of 15% to €7,287 million
 * EBITDA growth year-on-year of 10% to €1,235 million with a margin of 17%
 * Third quarter EBITDA growth year-on-year of 16% to €454 million
 * Issued €1 billion in bonds under our Green Finance Framework

> **Tony Smurfit, Group CEO, commented:**
> “I am pleased to report a strong first nine months for the Group with corrugated
> growth of 9% in Europe and 11% in the Americas versus 2020. Our integrated paper
> and corrugated system is effectively sold out and I am very proud of our people
> who are ensuring that customers, for the most part, are supplied securely and 
> efficiently despite many supply chain disruptions. Materially higher input costs,
> principally, but not limited to, recovered fibre and energy are being progressively
> recovered through corrugated price increases.
> “To meet growing customer demand, in the first nine months of the year, we approved
> approximately €600 million in projects across the Group. In our corrugated business,
> we have approved 48 new converting machines and six new corrugators across Europe
> and the Americas. I am delighted to report that we completed the acquisition of
> the Verzuolo mill in early October bringing 600,000 tonnes of paper into our integrated
> system. In addition, we also approved two major paper projects in Germany and 
> Mexico, ensuring future security of supply to our over 65,000 customers. This 
> continued investment will ensure that Smurfit Kappa remains best placed to satisfy
> our customers’ needs with the most innovative and sustainable packaging solutions.
> “Reflecting our continuing focus on [sustainability](https://www.directorstalkinterviews.com/sustainability-green-stocks-news)
> was the recent launch of our Green Finance Framework and issuance of green bonds
> of €500 million with a coupon of 0.5% and €500 million with a coupon of 1.0%, 
> with 8 and 12 year maturities respectively. Setting up this framework is a further
> significant step in our sustainability strategy, embedding sustainability into
> our capital structure alongside our sustainability linked Revolving Credit Facility.
> “Smurfit Kappa Group continues to deliver against all performance metrics with
> EBITDA for the nine months of €1,235 million and a margin of 17%. This shows the
> continuing strength of our integrated business model; the benefits of geographic
> diversity; and the quality and dedication of the SKG team. We expect to deliver
> significant EBITDA growth for the full year in line with current market expectations.
> With the many growth opportunities and the significant ongoing investment in our
> business, we are excited about our future prospects.”

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