The company said Smurfit Kappa's net sales for the 3 months ended March 31, 2024 were $2,930 million, down 9.6% from $3,240 million a year earlier, and its net income was $191 million, down 32.0% from $281 million.

1. 01

   The company said Smurfit Kappa's net sales for the 3 months ended March 31, 2024 were $2,930 million, down 9.6% from $3,240 million a year earlier, and its net income was $191 million, down 32.0% from $281 million.

2. 02

   The company cited lower selling prices and mix of $394 million in Europe, driven by falling containerboard and corrugated packaging prices, as the reason for the net sales decline. It said cost of goods sold was $2,220 million, down 8.2%.

3. 03

   The company said Smurfit Kappa's net cash provided by operating activities for the 3 months ended March 31, 2024 was $42 million, down from $263 million a year earlier, and that working capital outflows were $290 million.

4. 04

   The company said it expects the merger, under which each WestRock share will be exchanged for one Smurfit WestRock share and $5.00 in cash, to close in early July 2024. It also said it issued $2,750 million of senior unsecured notes on April 3, 2024.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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