Smurfit Westrock reports €307m net income in 2024 

Dublin-headquartered company will continue post-merger savings in 2025

Smurfit Westrock reported net income of $319m (€307m) in 2024.

Packaging giant Smurfit Westrock reported net income of $319m (€307m) in 2024, as it published its first set of annual financial results since a high-profile merger.

Smurfit Westrock was created from the merger of Smurfit Kappa and WestRock in July 2024. The company has its global headquarters in Dublin and posted fourth quarter and full year results for the year ended December 31, 2024.

Smurfit Westrock reported fourth quarter net sales of $7.5bn (€7.23bn). Fourth quarter net income was $146m (€140.6m).

Fourth quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $1,166bn (€1,123bn). Full year combined adjusted EBITDA1 of $4.706bn (€4.503bn).

The company confirmed the previously announced quarterly dividend of $0.4308 per ordinary share, an increase of 42%.

Smurfit Westrock president and chief executive Tony Smurfit welcomed the results and forecast first quarter EBITDA of $1.25bn (€1.2bn).

“While we are at the beginning of our journey, I am immensely proud of what our teams have achieved in our first six months as Smurfit Westrock. The operational and financial expertise that are hallmarks of this management team are already being applied as we transform the combined business,” he said.

“Our synergy programme of $400m is on track and will be completed by the end of this year. Moreover, there are significant operational and commercial opportunities, at least equating to that synergy target.

 “The year has started well and in the first quarter of 2025, assuming current market conditions prevail, we anticipate delivering an adjusted EBITDA4 of approximately $1.25bn. For the current year, subject as always to macro-economic and climate risks, we expect continued and meaningful progress on our transformation journey.”