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    SK3   IE00B1RR8406

SMURFIT KAPPA GROUP PLC

(SK3)
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Smurfit Kappa : announces major EUR24 million investment in France

06/23/2021 | 10:02am EDT

Smurfit Kappa has announced it will invest EUR24 million to expand its corrugated plant in Rethel, North-East France, demonstrating the company's continued commitment to its French customer market.

The new investment will facilitate the consolidation of two existing facilities at that plant and the installation of a new state-of-the-art corrugator and conversion equipment.

This investment will result in environmental improvements at the plant including a reduction in CO2 emissions, with a saving of at least 150 tonnes annually.

Phase one of the project, including installation of the new corrugator, is due to be completed in the first half of 2022, with full completion of the investment project expected in 2023. The investment will help to modernise and expand the plant, which will include a new 8200m2 building designed specifically for the installation of the new high-tech corrugator.

Commenting on the announcement, Edwin Goffard, COO of Smurfit Kappa Europe - Corrugated and Converting, said: 'Smurfit Kappa's ambition to strengthen its position in France continues with this significant new investment. This investment will allow us to grow further and improve our quality of service to the food and industrial markets that we serve.'

Jean-Christophe Bugeon, CEO of Smurfit Kappa France, said: 'This investment will not only expand the capacity at our site, but it will also help us to tackle the ever-growing environmental issues our planet faces by significantly reducing the plant's carbon footprint.'

Contact:

Tel: +353 1 202 7127

Email: ir@smurfitkappa.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Sales 2021 9 564 M 11 214 M 11 214 M
Net income 2021 677 M 794 M 794 M
Net Debt 2021 2 796 M 3 278 M 3 278 M
P/E ratio 2021 18,3x
Yield 2021 2,53%
Capitalization 12 392 M 14 547 M 14 530 M
EV / Sales 2021 1,59x
EV / Sales 2022 1,48x
Nbr of Employees 46 000
Free-Float 99,2%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 47,97 €
Average target price 54,11 €
Spread / Average Target 12,8%
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Managers and Directors
Anthony Paul James Smurfit Group Chief Executive Officer & Executive Director
Kenneth Bowles Group Chief Financial Officer & Executive Director
Irial Finan Chairman
Arco Berkenbosch Vice President-Marketing, Research & Development
Richard Schouten Group Vice President-Information Systems
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