Financials Smurfit Westrock Plc

Equities

Market Closed - Nyse Other stock markets 04:00:02 2025-01-24 pm EST			5-day change	1st Jan Change
56.02 ^USD	+1.36%		+5.78%	+4.01%

Jan. 21	Truist Initiates Smurfit Westrock at Buy With $62 Price Target	MT
Jan. 16	Smurfit Westrock plc Announces Executive Changes	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	9,048	8,530	10,107	12,815	11,272	29,140	30,375	31,463
Change	-	-5.73%	18.49%	26.79%	-12.04%	158.52%	4.24%	3.58%
EBITDA ¹	1,650	1,510	1,702	2,355	2,080	4,438	5,136	5,569
Change	-	-8.48%	12.72%	38.37%	-11.68%	113.37%	15.72%	8.44%
EBIT ¹	1,062	922	1,073	1,662	1,403	2,012	2,930	3,326
Change	-	-13.18%	16.38%	54.89%	-15.58%	43.41%	45.6%	13.53%
Interest Paid ¹	-192	-144	-162	-149	-198	-562.3	-622.7	-583.4
Earnings before Tax (EBT) ¹	677	748	913	1,293	1,055	1,198	2,206	2,656
Change	-	10.49%	22.06%	41.62%	-18.41%	13.59%	84.11%	20.38%
Net income ¹	476	545	679	944	758	942.5	1,635	1,954
Change	-	14.5%	24.59%	39.03%	-19.7%	24.34%	73.5%	19.52%
Announcement Date	2/5/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q4	2022 Q1	2022 Q2	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	-	2,194	-	2,109	2,218	-	2,820	-	3,361	3,091	3,000	2,842	-	-	2,969	7,102	7,381	7,517	7,619	7,677	7,563	7,857	8,004	7,824
Change	-	-	-100%	-	5.17%	-100%	-	-100%	-	-8.03%	-2.94%	-5.27%	-100%	-	-	139.2%	3.92%	1.84%	1.37%	0.75%	-1.48%	3.89%	1.87%	-2.26%
EBITDA ¹	393	-	355	354	385	351.5	467	514	660	588	579	534	512	455	480	1,171	1,147	1,270	1,297	1,304	1,253	1,351	1,460	1,486
Change	-	-100%	-	-0.28%	8.76%	-8.7%	32.86%	10.06%	28.4%	-10.91%	-1.53%	-7.77%	-4.12%	-11.13%	5.49%	143.99%	-2.07%	10.7%	2.14%	0.58%	-3.94%	7.86%	8.02%	1.82%
EBIT ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	244	298.1	608.2	742.3	745.3	728	693.8	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22.18%	104.03%	22.05%	0.4%	-2.33%	-4.7%	-100%	-	-
Charge d'intérêts ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-33	-153.8	-166.5	-144.1	-143.7	-143.4	-143	-130.2	-129.5	-128.8
Earnings before Tax (EBT) ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	187	-108.3	423.4	519.6	596	653.8	541.6	619.3	728.3	755.6
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22.73%	14.69%	9.7%	-17.16%	14.35%	17.61%	3.75%
Net income ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	132	-138.9	314.9	389.7	447	490.4	406.2	464.5	546.3	566.7
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23.77%	14.68%	9.72%	-17.18%	14.35%	17.62%	3.73%
Announcement Date	2/5/20	4/29/20	7/29/20	11/4/20	2/10/21	4/28/21	2/9/22	4/27/22	7/27/22	2/8/23	4/28/23	8/2/23	11/5/23	2/7/24	7/30/24	10/30/24	-	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1
Net sales	4,426	4,203	4,327	4,679	5,428	6,385	6,430	5,837	5,435	-
Change	-	-5.04%	2.95%	8.13%	16.01%	17.63%	0.7%	-9.22%	-6.89%	-100%
EBITDA ¹	803	735	775	781	921	1,174	1,181	1,113	967	955
Change	-	-8.47%	5.44%	0.77%	17.93%	27.47%	0.6%	-5.76%	-13.12%	-1.24%
EBIT	504	450	472	477	596	839	823	779	624	-
Change	-	-10.71%	4.89%	1.06%	24.95%	40.77%	-1.91%	-5.35%	-19.9%	-100%
Charge d'intérêts	-92	-68	-76	-64	-98	-71	-78	-87	-111	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/5/20	7/29/20	2/10/21	7/28/21	2/9/22	7/27/22	2/8/23	8/2/23	2/7/24	7/30/24

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,497	2,375	2,885	2,992	2,840	12,160	11,310	10,229
Change	-	-32.08%	21.47%	3.71%	-5.08%	328.17%	-6.99%	-9.56%
Announcement Date	2/5/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	612	493	693	970	1,056	2,058	2,092	2,120
Change	-	-19.44%	40.57%	39.97%	8.87%	94.91%	1.65%	1.34%
Free Cash Flow (FCF) ¹	551	754	455	545	628	1,042	1,803	2,079
Change	-	36.84%	-39.66%	19.78%	15.23%	65.94%	73.01%	15.33%
Announcement Date	2/5/20	2/10/21	2/9/22	2/8/23	2/7/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	18.24%	17.7%	16.84%	18.38%	18.45%	15.23%	16.91%	17.7%
EBIT Margin (%)	11.74%	10.81%	10.62%	12.97%	12.45%	6.9%	9.64%	10.57%
EBT Margin (%)	7.48%	8.77%	9.03%	10.09%	9.36%	4.11%	7.26%	8.44%
Net margin (%)	5.26%	6.39%	6.72%	7.37%	6.72%	3.23%	5.38%	6.21%
FCF margin (%)	6.09%	8.84%	4.5%	4.25%	5.57%	3.58%	5.94%	6.61%
FCF / Net Income (%)	115.76%	138.35%	67.01%	57.73%	82.85%	110.57%	110.25%	106.38%
Profitability
ROA	-	-	6.17%	7.81%	6.04%	3.2%	4.14%	4.75%
ROE	22.73%	16.89%	16.66%	20.08%	14.32%	7%	9.2%	10.7%
Financial Health
Leverage (Debt/EBITDA)	2.12x	1.57x	1.7x	1.27x	1.37x	2.74x	2.2x	1.84x
Debt / Free cash flow	6.35x	3.15x	6.34x	5.49x	4.52x	11.67x	6.27x	4.92x
Capital Intensity
CAPEX / Current Assets (%)	6.76%	5.78%	6.86%	7.57%	9.37%	7.06%	6.89%	6.74%
CAPEX / EBITDA (%)	37.09%	32.65%	40.72%	41.19%	50.77%	46.38%	40.74%	38.07%
CAPEX / FCF (%)	111.07%	65.38%	152.31%	177.98%	168.15%	197.51%	116.05%	101.97%
Items per share
Cash flow per share ¹	-	-	-	-	-	6.16	7.669	9.24
Change	-	-	-	-	-	-	24.5%	20.48%
Dividend per Share ¹	-	-	-	-	-	1.151	1.448	1.486
Change	-	-	-	-	-	-	25.84%	2.64%
Book Value Per Share ¹	-	-	-	-	-	33.58	35.6	38.37
Change	-	-	-	-	-	-	6%	7.78%
EPS ¹	-	-	-	-	-	2.006	3.308	4.072
Change	-	-	-	-	-	-	64.92%	23.09%
Nbr of stocks (in thousands)	-	-	-	-	-	518,407	518,407	518,407
Announcement Date	-	-	-	-	-	-	-	-