Report
Joan Sehim
EUR 200.00 For Business Accounts Only

Smurfit's bright 1Q and prospects for 2018 may lead to third IP takeover attempt

Smurfit Kappa, the Irish paper-based packager, unsurprisingly reported a strong 1Q18 trading update with organic sales of €2,168m, up 7% yoy, while EBITDA jumped 22% yoy to €340m, giving a record-high margin of 15.7% (+270 bps yoy).

Underlying
Smurfit Kappa Group Plc

Smurfit Kappa Group is an integrated paper and paperboard manufacturer and converter whose operations are divided into Europe and the Americas. The Europe segment includes a system of mills and plants that primarily produces a full line of containerboard that is converted into corrugated containers. In addition to other types of paper, such as solidboard and sack kraft paper, and paper-based packaging, such as soldboard packaging and folding cartons, this segment includes Co.'s bag-in-box operations. The Americas segment comprises all Co.'s forestry, paper, corrugated, paper sack and folding carton activities and all the operations of Smurfit Kappa Orange County.

Provider
Spread Research
Spread Research

​Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.

 

Analysts
Joan Sehim

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