Smurfit WestRock posted a 59 per cent increase in earnings last year to marginally beat market expectations, after the largest cardboard box-maker was created last summer by merger.
The Dublin-based group’s earnings before interest, tax, depreciation and amortisation (Ebitda) rose to $3.39 billion (€3.27 billion) from $2.13 billion for the pervious year. The consensus view among analysts was that Ebitda would amount to $3.26 billion.
Sales jumped to $21.1 billion from $12.1 billion.
“The year has started well and in the first quarter of 2025, assuming current market conditions prevail, we anticipate delivering an adjusted Ebitda of approximately $1.25 billion,” said chief executive Tony Smurfit.
The estimate is about $100 million ahead of market expectation, according to Bloomberg data.
“Our synergy program of $400 million is on track and will be completed by the end of this year. Moreover, there are significant operational and commercial opportunities, at least equating to that synergy target,” said Mr Smurfit.
Shares in Smurfit WestRock have jumped 16 per cent since it was formed through the combination of Smurfit Kappa and US peer WestRock in early July and adopted Wall Street as the venue for its main stock listing. The combined group dropped its quotation in Dublin in the process.
Analysts hope that Mr Smurfit, the former chief executive of Smurfit Kappa, and his chief financial officer Ken Bowles, who now lead the entire group, will turn around the underperforming legacy WestRock assets.
