Smurfit Westrock Reports 4Q, Full Year 2024 Results

Smurfit Westrock plc announced the financial results for the fourth quarter and full year ended December 31, 2024.

Fourth quarter net sales were approximately $7.5 billion, with fourth quarter adjusted EBITDA of $1,166 million and fourth quarter net income of $146 million, with a net income margin of 1.9%. Full year net income was $319 million. Full year combined adjusted EBITDA was $4.7 billion, in line with guidance.

“I am pleased to report a strong fourth quarter performance with net income of $146 million, adjusted EBITDA of $1,166 million and an adjusted EBITDA margin of 15.5%,” Tony Smurfit, president and CEO, said. “For the full year, in line with our stated guidance, we have delivered a full year combined adjusted EBITDA of $4,706 million.

“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,” Smurfit added. “The operational and financial expertise that are hallmarks of this management team are already being applied as we transform the combined business. Our synergy program of $400 million 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.

“Smurfit Westrock with its unrivalled scale, geographic reach and product portfolio has an unparalleled capacity to deliver innovative sustainable packaging solutions,” he noted. “As a world leader in paper-based packaging, our unique characteristics will enable us to deliver significant long-term value to our extensive customer base. The year has started well and in the first quarter of 2025, assuming current market conditions prevail, we anticipate delivering an adjusted EBITDA of approximately $1.25 billion.”