Smurfit Kappa Q1 2020 Trading Update

“SKG is closely monitoring the development of the COVID-19 pandemic and its impact across our people, our operations and the broader stakeholder base. Our immediate, primary focus is to protect our employees and continue to meet our customers’ needs.

“During the quarter, all of our facilities were operational as a result of our employees’ dedication and commitment. The scale and geographic reach of our operations has also ensured that our extensive and diverse customer base has been able to deliver its essential and critical supplies. We are an integral part of today’s vital supply-chains, whether it is ensuring that retailers remain supplied with food and other basic goods or ensuring that critical pharmaceutical and medical supplies and devices reach hospitals and other health care facilities where they are needed to fight this pandemic. Our unique position, with an integrated, secure system of over 350 facilities and a global reach, is a significant strength. Equally, our unique culture embraced by over 46,000 employees which is supported by our core values of safety, loyalty, integrity and respect, continues to give me great confidence for the future.

“In an obviously challenging operating environment I am very proud of the dedication shown by all of my SKG colleagues in delivering an EBITDA result of €380 million, with a Group margin of 17.3%. Volumes in Europe increased by 3% or approximately 2% on an organic basis, while demand in the Americas grew by 3.5% year-on-year.