6 March 2024
DS Smith Plc – Q3 trading statement
DS Smith Plc (“DS Smith”), today issues a trading update in respect of the period since 1 November 2023.
Continued resilient performance in a challenging environment
· Like for like corrugated box volume performance continues to improve compared with the first half of our financial year, with flat like for like volumes in the period since 1 November 2023. North America and Eastern Europe saw good growth in the quarter, offset by a weaker performance in Northern Europe
· Focus remains on resilient pricing, operational efficiency and tight cost control with anticipated containerboard price increases expected to be reflected in ongoing packaging prices, following the usual lag
· Overall trading together with our outlook for the remainder of the year remains in line with management expectations
Miles Roberts, Group Chief Executive, said:
“I am pleased with a continuing resilient performance, despite tough economic conditions. Our strong customer relationships, quality and service has led to a number of recent FMCG customer contract wins, underpinning our confidence in the outlook for volume growth going forward. While markets remain challenging, we continue to focus on providing value-added solutions to our customers and on driving operational efficiency and cost control across the Group and view the future with confidence.”
Conference Call
A conference call for analysts and investors, hosted by Miles Roberts and Richard Pike, will take place today, 6 March 2024 at 8:00am London time. The dial-in number is:
UK/International +44 (0)33 0551 0200
UK Toll Free 0808 109 0700
Password DS Smith
A play-back facility of this call will be available until 13 March 2024. The dial-in number is: +44 (0)20 8196 1480, access pin 8734457#. A recording of the call will also be available through the Investor Relations section of our website: https://www.dssmith.com/investors/results-and-presentations
Enquiries
DS Smith Plc
Investors +44 (0)20 7756 1800
Hugo Fisher, Group Investor Relations Director
Anjali Kotak, Investor Relations Director
Media
Greg Dawson, Group Corporate Affairs Director
Brunswick +44 (0)20 7404 5959
Simon Sporborg, Dan Roberts