Smurfit Westrock Reports Fourth Quarter and Full Year 2024 Results

"Our synergy program of $400 million is on track and will be completed by the end of this year. Moreover, there are significant operational and commercial opportunities, at least equating to that synergy target." – Tony Smurfit, President and CEO of Smurfit WestRock.

Feb. 12, 2025 - Smurfit Westrock plc (NYSE: SW, LSE: SWR) today announced the financial results for the fourth quarter and full year ended December 31, 2024.

Key points:

• Fourth quarter Net Sales of approx. $7.5 billion
• Fourth quarter Net Income of $146 million, with a Net Income Margin of 1.9%
• Fourth quarter Adjusted EBITDA of $1,166 million, with an Adjusted EBITDA Margin of 15.5%
• Full year Net Income of $319 million
• Full Year Combined Adjusted EBITDA of $4.7 billion, in-line with guidance
• Previously announced quarterly dividend of $0.4308 per ordinary share, an increase of 42%

Tony Smurfit, President and CEO, commented:

"I am pleased to report a strong fourth quarter performance with Net Income of $146 million, Adjusted EBITDA of $1,166 million and an Adjusted EBITDA Margin of 15.5%. For the full year, in line with our stated guidance, we have delivered a Full Year Combined Adjusted EBITDA of $4,706 million.

"While we are at the beginning of our journey, I am immensely proud of what our teams have achieved in our first six months as Smurfit Westrock. The operational and financial expertise that are hallmarks of this management team are already being applied as we transform the combined business.

"Our synergy program of $400 million is on track and will be completed by the end of this year. Moreover, there are significant operational and commercial opportunities, at least equating to that synergy target.

"Smurfit Westrock with its unrivalled scale, geographic reach and product portfolio has an unparalleled capacity to deliver innovative sustainable packaging solutions. As a world leader in paper-based packaging, our unique characteristics will enable us to deliver significant long-term value to our extensive customer base.

"The year has started well and in the first quarter of 2025, assuming current market conditions prevail, we anticipate delivering an Adjusted EBITDA4 of approximately $1.25 billion.

"Smurfit Westrock is creating a performance-led culture and a formidable team. We are very confident about the future opportunities and prospects for our business, in part reflected by our progressive dividend. For the current year, subject as always to macro-economic and climate risks, we expect continued and meaningful progress on our transformation journey."

Smurfit Westrock is a leading provider of paper-based packaging solutions in the world, with approximately 100,000 employees across 40 countries.

SOURCE: Smurfit Westrock