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Prices & Quotes - UK Markets - Smurfit Kappa Group (CDI) (SKG)

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Share Price:
Up 4,006.00p
Change Today:
29.00p
Market Cap:
10,376m
Sector:
General Industrials

Smurfit Kappa volumes grow as it works to keep lid on costs

By Josh White

Date: Friday 30 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Smurfit Kappa reported first quarter corrugated volume growth of around 7% in both Europe and the Americas in its first quarter on Friday.
The FTSE 100 packaging giant said containerboard prices had increased in the quarter, and again at the start of the second quarter, as a result of strong demand and higher recovered fibre and other costs.

Its recovered fibre cost had increased by around €90m (78.24m) compared to the first quarter of last year.

Smurfit Kappa said it was progressively recovering those input costs through its corrugated box system.

In addition to cost pressures, the firm said the industry was experiencing supply disruptions and shortages of packaging papers globally.

Smurfit Kappa said it was accelerating its capital investment plans with a number of high-return projects that would enhance shareholder returns.

Those include the construction of "mega plants", and the acquisition of converting machines in order to meet its customers' demand growth and continue its cost optimisation.

In addition, a number of paper investments were being deployed to further strengthen the company's integrated model and improve its sustainability footprint.

"The first quarter was remarkable in many ways," said chief executive officer Tony Smurfit.

"We had strong corrugated volume growth in practically every area and all markets in which we operate.

"With unprecedented industry wide shortages of supply and input cost pressures, paper prices have moved up sharply."

Smurfit said the company was recovering its input costs in line with expectations.

"I am also happy to report that both Moody's and Standard & Poor's have recently upgraded our long-term issuer rating to Baa3 and BBB- respectively, in addition to Fitch's BBB- rating.

"Our strong first quarter performance has set the foundation for accelerated revenue and earnings growth as we move through 2021.

"This performance and these prospects reflect the strength and quality of Smurfit Kappa."

At 0805 BST, shares in Smurfit Kappa Group were up 2.86% at 3,666p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

SKG Market Data

Currency UK Pounds
Price 4,006.00p
Change Today 29.00p
52 Week High 4,305.00p
52 Week Low 2,898.00p
Volume 227,644
Shares Issued 259.02m
Market Cap 10,376m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 11
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SKG Dividends

  Latest Previous
  Interim Final
Ex-Div 23-Sep-21 08-Apr-21
Paid 22-Oct-21 07-May-21
Amount 29.30¢ 87.40¢

Trades for 21-Sep-2021

Time Volume / Share Price
16:35 57 @ 4,006.00p
16:35 42,837 @ 4,006.00p
16:29 71 @ 3,994.00p
16:29 125 @ 3,991.00p
16:29 64 @ 3,989.00p

SKG Key Personnel

CEO Tony Smurfit