Deconsolidation of operations in Venezuela places heavy burden on SKG's annual result

摘要

With a net loss totalling €639m, Irish Smurfit Kappa Group (SKG) spurred red ink in its 2018 financial year despite good performance in the paper and packaging business. The primary reason for this deterioration was the deconsolidation of the Venezuelan Smurfit Kappa operations in the third quarter after seizure by the Venezuelan government. Against the background of demand growth and higher packaging prices, group sales and operating results rose compared to 2017.The new year started positively after a poor end of 2018. Sustainable packaging has become a trend, and e-commerce is on the rise.