Smurfit Kappa Group (SKG) net sales in the first quarter were €1,731 million in what was an increase of 3.6 per cent on the first three months of 2006.
SKG announced this morning that earnings before interest, taxes, depreciation, and amortisation (EBITDA) in the first quarter of this year were €1,731 million - up 40 per cent on the company's EBITDA profits of €181 million in the same period last year.
The company reported net sales of €1,749 million - a 2 per cent increase on net sales of €1,749 million in the fourth quarter of last year.
SKG said the first-quarter performance did not fully reflect the expected earnings of the group's business, however.
Obstacles to expectations included higher material costs and increased kraftliner exports from the United States, which limited price increases for European kraftliner.
The company's synergy programme delivered around €87 million in 2006, ahead of the group's target of €60 million.