Smurfit Kappa profits down 5pc
Paper and packaging group Smurfit Kappa said fourth-quarter earnings before interest, tax, depreciation and amortization excluding exceptional and share-based payments declined 5pc.
Underlying earnings, or EBITDA, fell to €186m in the three months through December from €195m in the same period last year, the company said in an emailed statement. Revenue fell 6pc.
Smurfit CEO Gary McGann said the company saw "positive momentum" in its order books in the three months through January.
The company sees “meaningful” EBITDA growth in 2010, he said on a conference call earlier, without providing further details.
McGann also said “underlying input costs are heading upwards” and the company’s performance this year will depend partly on “how the macro economic recovery will play out.”