Paper and packaging giant Smurfit Kappa has reported a strong first nine months for the group with corrugated growth of 9% in Europe and 11% in the Americas compared to the same time last year.
In a trading update for the nine months to the end of September, Smurfit Kappa reported revenue growth of 15% to €7.287 billion.
It also recorded EBITDA growth year-on-year of 10% to €1.235 billion.
The company said its integrated paper and corrugated system is effectively "sold out" but it managed to ensure that customers, for the most part, were supplied "securely and efficiently" despite many supply chain disruptions.
"Materially higher input costs, principally, but not limited to, recovered fibre and energy are being progressively recovered through corrugated price increases," it added.
To meet growing customer demand in the first nine months of the year, the company said it approved about €600m in projects across the group.
Its corrugated business approved 48 new converting machines and six new corrugators across Europe and the Americas, while it also completed the acquisition of the Verzuolo mill in early October bringing 600,000 tonnes of paper into its integrated system.
Smurfit Kappa also approved two major paper projects in Germany and Mexico, ensuring future security of supply to its over 65,000 customers.
"Smurfit Kappa Group continues to deliver against all performance metrics with EBITDA for the nine months of €1.235 billion and a margin of 17%.
"This shows the continuing strength of our integrated business model; the benefits of geographic diversity; and the quality and dedication of the SKG team," the company's group chief executive Tony Smurfit said.
"We expect to deliver significant EBITDA growth for the full year in line with current market expectations. With the many growth opportunities and the significant ongoing investment in our business, we are excited about our future prospects," Mr Smurfit added.
Smurfit Kappa shares were higher in Dublin trade today.