AI English summary of an SEC filing — figures as filed
Smurfit Westrock SWThe company said on July 5, 2024 that Smurfit Westrock had completed its acquisition of Smurfit Kappa by way of a scheme of arrangement and the merger of Merger Sub into WestRock. Following completion of the combination, Smurfit Kappa and WestRock became wholly owned subsidiaries of Smurfit Westrock.
Key points
AI summaryThe company said on July 5, 2024 that Smurfit Westrock had completed its acquisition of Smurfit Kappa by way of a scheme of arrangement and the merger of Merger Sub into WestRock. Following completion of the combination, Smurfit Kappa and WestRock became wholly owned subsidiaries of Smurfit Westrock.
Smurfit Westrock said it will manage and report its business in three operating segments: Smurfit Westrock Europe, MEA and APAC; Smurfit Westrock North America; and Smurfit Westrock Latin America. It said it will begin reporting under this segment structure starting in Q3 of fiscal 2024.
The company said combined net sales for Smurfit Kappa and WestRock, on an unaudited basis, were 8,518 million for the 3 months ended March 31, 2023 and 7,777 million for the 3 months ended June 30, 2024 ($ in millions). For the 3 months ended June 30, 2024, net sales were 2,596 for Europe, MEA and APAC, 4,677 for North America and 504 for Latin America.
The company said combined adjusted EBITDA, on an unaudited basis, was 1,405 million for the 3 months ended March 31, 2023 and 1,145 million for the 3 months ended June 30, 2024 ($ in millions). The company said the information was not prepared in accordance with Article 11 of Regulation S-X or on a consolidated basis under U.S. GAAP.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Combination completed on July 5, 2024
The company said on July 5, 2024 that Smurfit Westrock had completed its acquisition of Smurfit Kappa by way of a scheme of arrangement and the merger of Merger Sub into WestRock. Following completion of the combination, Smurfit Kappa and WestRock became wholly owned subsidiaries of Smurfit Westrock.
Source · Based on the filing body and exhibits
Three-Segment Reporting Structure
Smurfit Westrock said it will manage and report its business in three operating segments: Smurfit Westrock Europe, MEA and APAC; Smurfit Westrock North America; and Smurfit Westrock Latin America. It said it will begin reporting under this segment structure starting in Q3 of fiscal 2024.
Source · Based on the filing body and exhibits
Quarterly Net Sales by Segment
The company said combined net sales for Smurfit Kappa and WestRock, on an unaudited basis, were 8,518 million for the 3 months ended March 31, 2023 and 7,777 million for the 3 months ended June 30, 2024 ($ in millions). For the 3 months ended June 30, 2024, net sales were 2,596 for Europe, MEA and APAC, 4,677 for North America and 504 for Latin America.
Source · Based on the filing body and exhibits
Combined Adjusted EBITDA and Unaudited Information
The company said combined adjusted EBITDA, on an unaudited basis, was 1,405 million for the 3 months ended March 31, 2023 and 1,145 million for the 3 months ended June 30, 2024 ($ in millions). The company said the information was not prepared in accordance with Article 11 of Regulation S-X or on a consolidated basis under U.S. GAAP.
Source · Based on the filing body and exhibits
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
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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