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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Papeles y Cartones de Europa SA    PAC   ES0168561019

PAPELES Y CARTONES DE EUROPA SA (PAC)
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DS Smith expects first-half profit to be 'materially ahead'

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11/06/2018 | 03:06am EST
FILE PHOTO: An Amazon box is seen on a cart before being delivered by a Correos Express delivery worker in downtown Ronda

(Reuters) - Packaging company DS Smith said it expects adjusted operating profit for the first half of the year to be "materially ahead" from last year as it was able to sell more boxes at higher prices to offset higher production costs.

The packaging company, which supplies corrugated cardboard, recycled paper and plastic packaging to firms including Amazon.com Inc, said the strategic review of its plastics division was progressing well.

DS Smith, which supplies brands such as Aldi, Tesco, Primark, Auchan and IKEA, has been increasing prices for its boxes to offset higher pulp and paper costs. In September, DS Smith said its margins improved as it sold more boxes at higher prices.

Its consumer goods-focused packaging division has also seen good volume growth in the half year, DS Smith said, adding that overall cash flow will be significantly ahead of last year's.

The 80-year old company has grown exponentially through acquisitions over the last couple of years, driven by ever-growing demand from e-commerce companies for its recyclable packaging material.

It acquired Interstate Resources in 2017 to expand into the United States, and recently acquired Spanish rival Europac for 2 billion pounds, its biggest ever deal.

(Reporting by Sangameswaran S and Noor Zainab Hussain in Bengaluru; Editing by Saumyadeb Chakrabarty and Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.94% 1691.63 Delayed Quote.11.49%
DS SMITH 0.77% 329.1 Delayed Quote.9.12%
PAPELES Y CARTONES DE EUROPA SA -0.48% 16.7 End-of-day quote.0.00%
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Financials (€)
Sales 2018 971 M
EBIT 2018 139 M
Net income 2018 104 M
Debt 2018 184 M
Yield 2018 2,60%
P/E ratio 2018 16,31
P/E ratio 2019 14,87
EV / Sales 2018 1,91x
EV / Sales 2019 1,79x
Capitalization 1 667 M
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Number of Analysts 3
Average target price 15,6 €
Spread / Average Target -7,3%
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Oliver Bernard Hasler Chief Executive Officer
José Miguel Isidro Rincón Chairman
Jorge Bonnin Chief Financial Officer
Enrique Isidro Rincón Vice Chairman
Vicente Guilarte Gutiérrez Director
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