SKG.L Regulatory News (SKG)

1 Apr 2022 10:00

1 April 2022

Statement re Russian Operations

Smurfit Kappa Group plc (‘SKG’ or ‘the Group’) announces that it has decided to exit the Russian market. The Group has already suspended support for its Russian operations including any imports and exports and any short or long term funding. This exit will be effected in an orderly manner, during which we will continue to pay our employees and fulfil our legal obligations. Our Russian business represents less than 1% of forecasted sales.

Smurfit Kappa stands in solidarity with the people of Ukraine and everyone impacted by the totally unjustified attack on Ukraine and its people. The Group is providing, and will continue to provide, substantial humanitarian support for the Ukrainian people. We are also assisting the families of SKG employees and contractors from Ukraine as well as providing products and services to support the relief effort together with financial assistance to a number of aid agencies. We have also partnered with the Red Cross to provide funding to support their vital work.

-ENDS-

About Smurfit Kappa

Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with approximately 48,000 employees in over 350 production sites across 36 countries and with revenue of €10.1 billion in 2021. We are located in 23 countries in Europe, and 13 in the Americas. We are the only large-scale pan-regional player in Latin America. Our products, which are 100% renewable and produced sustainably, improve the environmental footprint of our customers.

With our proactive team, we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-based packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.

We have a proud tradition of supporting social, environmental and community initiatives in the countries where we operate. Through these projects we support the UN Sustainable Development Goals, focusing on where we believe we have the greatest impact.

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