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

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Share Price:
Up 3,882.00p
Change Today:
11.00p
Market Cap:
10,056m
Sector:
General Industrials

Smurfit Kappa passing on cost increases as earnings rise

By Frank Prenesti

Date: Wednesday 28 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Packaging giant Smurfit Kappa said it was passing on cost increases via higher prices as it reported a rise in interim core earnings.
First-half earnings before interest, taxes, depreciation, and amortisation of €781m were up from €735m a year ago, but down compared with the record €847m reported in 2019 before the Covid pandemic struck.

Demand for cardboard packaging has soared during the crisis as online shopping took off during lockdowns.

"As a result of our past and current capital investments in our integrated business model, we have, for the most part, been able to fulfil our customers' needs during this period of exceptionally strong demand," said chief executive Tony Smurfit.

"It has also been a period of significant input cost pressures which we have and will continue to recover through corrugated price increases."

The trend of passing on higher input costs to customers has also continued in the second half, Smurfit said.

Companies have been forced to lift prices in the face of higher raw materials prices, supply chain disruption and higher wages as demand soars as economies lift Covid-19 restrictions.

Smurfit said it planned to accelerate investment plans to meet customer needs and capitalise on significant growth opportunities.

It also announced the acquisition of a 600,000 tonne capacity recycled containerboard mill in Northern Italy for €360m, following on from recent similar deals in Peru and Mexico.

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 3,882.00p
Change Today 11.00p
52 Week High 4,305.00p
52 Week Low 3,180.00p
Volume 308,212
Shares Issued 259.03m
Market Cap 10,056m
Beta 1.14

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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 2
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 29-Nov-2021

Time Volume / Share Price
16:35 55,254 @ 3,882.00p
16:29 37 @ 3,890.00p
16:29 150 @ 3,889.00p
16:29 91 @ 3,891.00p
16:29 148 @ 3,890.00p

SKG Key Personnel

CEO Tony Smurfit