PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Smurfit Kappa Bag-in-Box

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

SKG Publishes Fourth Quarter and Full Year Results 2011 - Smurfit Kappa Group plc (“SKG” or the “Group”), announced results for the 3 months and 12 months ending 31 December 2011
SKG Publishes Fourth Quarter and Full Year Results 2011

 

NewswireToday - /newswire/ - Dublin, Ireland, 2012/02/12 - Smurfit Kappa Group plc (“SKG” or the “Group”), announced results for the 3 months and 12 months ending 31 December 2011.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Packaging Equipment/Service Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Smurfit Kappa Group plc (“SKG” or the “Group”), one of the world’s largest integrated manufacturers of paper-based packaging products, with operations in Europe and Latin America, today announced results for the 3 months and 12 months ending 31 December 2011.

Full Year 2011 Highlights:

- EBITDA growth of 12% to €1,015 million;
- Pre-exceptional EPS growth of 69% to €1.00;
- Improved EBITDA margin of 13.8% and ROCE of 12.5% reflects continued operating efficiency;
- Year-end net debt of €2.75 billion, exceeding net debt reduction target. Net debt/EBITDA of 2.7x;
- Launching amendment to further extend debt maturities. Cash balance of €857 million at year-end;
- Strong operating performance & capital structure now provide expanded range of strategic options;
- Dividend reinstatement. The Board recommends a final dividend of 15 cent (current yield of over 3%).

Performance Review & Outlook

Gary McGann, Smurfit Kappa Group CEO commented: “We are pleased to report EBITDA growth of 12% to €1,015 million and pre-exceptional EPS growth of 69% to €1.00 for the full year of 2011. Our strong free cash flow generation delivered a net debt reduction of €358 million to €2.75 billion in 2011, which exceeded our net debt reduction target. Lower net debt combined with a strong EBITDA outcome delivered a reduction of our net debt to EBITDA ratio to 2.7x at year-end.

Our strong financial performance demonstrates the benefits of our continued efficiency improvements and market-leading platform, which delivered material growth in our pan-European business. A number of significant development investments were carried out in 2011, reinforcing our position as the leading integrated business in our industry, in both Europe and Latin America. We are continuing our unrelenting focus on customer service, product innovation and operating efficiency.

Within the past 18 months, we have materially improved the financial profile and flexibility of SKG, by reducing net debt by approximately €540 million, while maintaining a strong liquidity position and diverse funding sources. The amendment request launched today, to extend the maturities of our Senior Credit Facility to 2016 and 2017 and to further increase our financial flexibility, forms part of an ongoing process of efficient balance sheet management.

The sustained strength of our operating performance together with our enhanced capital structure provide us with an expanded range of strategic and financial options. These include continued debt paydown, increased presence in higher growth markets and a progressive dividend stream. Opportunities will be prioritised to maximise shareholder returns, with a clear objective of maintaining a net debt to EBITDA ratio of below 3.0x through the cycle.

While macro-economic risks remain, in 2012 and beyond, we expect to continue delivering strong free cash flow through the cycle. As a consequence of our increased financial flexibility and sustained confidence in the long-term outlook for our business, we are satisfied that it is appropriate and timely for SKG to reinstate a sustainable dividend stream.

Consequently, the Board is recommending a final dividend of 15 cent per share for 2011, currently representing an annualised yield of over 3%.”

About Smurfit Kappa Group
Smurfit Kappa Group (smurfitkappa.com) is a world leader in paper-based packaging with operations in Europe and Latin America. Smurfit Kappa Group operates in 21 countries in Europe and is the European leader in containerboard, solidboard, corrugated and solidboard packaging and has a key position in several other packaging and paper segments. Smurfit Kappa Group also has a growing base in Eastern Europe and operates in 9 countries in Latin America where it is the only pan-regional operator.

Forward Looking Statements
Some statements in this announcement are forward-looking. They represent expectations for the Group’s business, and involve risks and uncertainties. These forward-looking statements are based on current expectations and projections about future events. The Group believes that current expectations and assumptions with respect to these forward–looking statements are reasonable. However, because they involve known and unknown risks, uncertainties and other factors, which are in some cases beyond the Group’s control, actual results or performance may differ materially from those expressed or implied by such forward-looking statements.

FTI Consulting
T: +353 1 663 36 80 - E: smurfitkappa[.]fticonsulting.com.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Packaging Equipment/Service Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Smurfit Kappa Bag-in-Box

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Packaging Equipment/Service articles,
CATCH Visitors via Your Competitors Announcements!


SKG Publishes Fourth Quarter and Full Year Results 2011

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Bertrand Paulet - Smurfit Kappa Group 
+353 1 202 71 80 ir[.]smurfitkappa.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Smurfit Kappa Bag-in-Box securities in any jurisdiction including any other companies listed or named in this release.

Packaging Equipment/Service via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Smurfit Kappa Bag-in-Box / Company Profile


Read Packaging Equipment/Service Most Recent Related Newswires:

Mondi Recognised in Three Categories of WWF’s Environmental Paper Awards 2016
Smurfit Kappa will Showcase its Complete System of Bag-in-Box® Packaging Solutions and Expertise for Wine At the Goodwine Trade Show in Romania
Smurfit Kappa to Acquire Saxon Packaging
Smurfit Kappa at SITEVINITECH Argentina 2016
Smurfit Kappa and Nestlé Waters Won The ‘Innovation for Business’ Category At The Prestigious Trophee de Achats
Smurfit Kappa to Exhibit its Range of Packaging Solutions for Juice and Dairy At the INDAGRA Agricultural Exhibition
Packaging Expert Takes Gold and Silver in 2016 POPAI Awards
Ampac Engineers Improved Anti-Fog Technology for Fresh Produce Packaging
Mondi Group Signs An Agreement to Acquire Beepack
Ampacs MRE Pouch Innovation Serves NASA International Space Station
Duke’s Mayonnaise and E-Z SnackPak Excel in AmeriStar and WorldStar Award Competitions
Smurfit Kappa Wins A Trio of Awards At Czech Packaging Competition
Smurfit Kappa Wins Again The Top European Innovation Recognition Award from Nestlé
Smurfit Kappa Zedek Awarded Two POPAI Awards for its Creativity and Innovation in Retail Marketing and Point-of-purchase Advertising Displays
Double Success for Smurfit Kappa At Pakstar Awards

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  K A C, Images and U, LLC





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)