Brief: Smurfit sees some further falls in box prices, big drops have happened

WestRock Co

01/11/2023 08:32

Nov 1 (Reuters) - Smurfit Kappa Group PLC  SKG.I  Q3
analyst call:
    * SMURFIT KAPPA CEO SAYS - REMAIN ON TRACK TO COMPLETE
WESTROCK
ACQUISITION IN Q2 2024
    * SMURFIT KAPPA CEO SAYS ORDER INTAKE IN GERMANY QUITE A BIT
HIGHER THAN IT WAS IN THE SUMMER, UP SOMEWHERE BETWEEN 8 AND 10%
    * SMURFIT KAPPA CEO SAYS BRAZIL DOING BETTER, COLOMBIA
IMPROVING,
MEXICO STABLE; SOME UPS AND SOME DOWNS IN EUROPE
    * SMURFIT KAPPA CEO SAYS WE ARE WINNING BUSINESS IN GERMANY,
PROBABLY SOME MARKET SHARE GAINS IN IMPROVEMENTS
    * SMURFIT KAPPA CEO SAYS SEEING FOOD AND DRINK BUSINESS,
FAST-MOVING CONSUMER GOODS BUSINESS COMING BACK TO NORMAL LEVELS
IN GERMANY
    * SMURFIT KAPPA CFO SAYS NO MATERIAL CHANGE IN ANY OF THE
COST
CATEGORIES IN Q3
    * SMURFIT KAPPA CEO SAYS THERE WILL BE SOME CONTINUED
MOVEMENT
DOWNWARD IN BOX PRICES IN Q4, Q1; BIG MOVES HAVE HAPPENED
    * SMURFIT KAPPA CEO SAYS BOX PRICES WILL MOVE UPWARDS AGAIN
AT
SOME POINT, CANNOT PREDICT WHEN
    * SMURFIT KAPPA CEO SAYS EXPECTS BOX PRICE TRENDS TO REVERSE
ONCE
VOLUME GROWTH STARTS COMING BACK INTO THE MARKET
    * SMURFIT KAPPA CEO SAYS PAPER PRICING IS AT THE BOTTOM,
DON'T SEE
MOVING DOWN ANY FURTHER
    * SMURFIT KAPPA CEO SAYS TOOK LESS COMMERCIAL DOWNTIME IN Q3
THAN
Q2, WILL DO SO AGAIN AROUND CHRISTMAS IN LINE WITH INDUSTRY
    * SMURFIT KAPPA CFO SAYS  DON'T EXPECT ANY MATERIAL IMPACT
FROM
ENERGY PRICES IN 2024, BUT REMAINS VOLATILE

Further company coverage:  SKG.I 

 (Reporting By Padraic Halpin)
 ((Padraic.Halpin@thomsonreuters.com;))