Smurfit Kappa Group Plc (LSE:SKG) Annual Report 2021



The latest annual report of Smurfit Kappa Group Plc (SKG) was published on 31 Dec 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - SKG Annual Results

Amounts in EUR

Total Revenue
10.11B
Gross Profit
3.09B
EBIT
1.07B
Net Tangible Assets
1.66B
Net Income
679M
Capital Expenditures
-594M

SKG Income Statement 2021 Annual Report

As per the latest Income Statement of SKG, the Net revenue increased by €1.577B (18%) compared to the previous period. The operating income in 2021 increased by €157.00M (17%). The net income as per the annual report was 679M which increased by €134.00M (25%) compared to previous year.

Income Statement Report (2021/2020)

2021 2020
Total Revenue 10.11B 8.53B
Gross Profit 3.09B 2.87B
Operating Income 1.07B 910M
Income Before Tax 913M 748M
Net Income 679M 545M

Balance Sheet - SKG 2021 Annual Report

Read further: SKG Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Smurfit Kappa Group Plc showed the company reduced the cash on balance sheet by €-36.00M (-4%). The Net tangible assets of SKG on the balance sheet were at 1.66B which is €439.00M (36%) more than previous annual report. The total stockholder equity also increased by €609.00M (16%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

2021 2020
Cash 855M 891M
Total Assets 11.71B 10.29B
Long Term Debt 3.3B 2.86B
Total Liabilities 7.32B 6.51B
Total Shareholder Equity 4.38B 3.77B
Net Tangible Assets 1.66B 1.22B

Cash Flow Statement - SKG 2021 Annual Report

The 2021 annual cash flow statement of Smurfit Kappa Group Plc showed that the net income increased by €134.00M (25%) compared to previous reporting period. Also the capital expenditure of SKG decreased by €-101.00M (-20%).

As of 2021, the total cash from investing activities was -1.01B and total cash from financing activities was -14M.

Cash Flow Statement Report (2021/2020)

2021 2020
Net Income 679M 545M
Capital Expenditures -594M -493M
Dividends Paid -302M -260M
Total Cash From From Investing Activities -1.01B -498M
Total Cash From From Financing Activities -14M -64M

Smurfit Kappa Group Plc Annual Report History

Income Statement

Income Statement history of Smurfit Kappa Group Plc (LSE:SKG)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Total Revenue 10.11B 8.53B 9.05B 8.95B
Cost Of Revenue 7.01B 5.66B 6.04B 5.99B
Gross Profit 3.09B 2.87B 3B 2.96B
Research Development - - - -
Selling General Administrative 2.02B 1.96B 1.96B 1.87B
Non Recurring - - - -
Other Operating Expenses - - - -
Total Operating Expenses 9.04B 7.62B 8B 7.86B
Operating Income 1.07B 910M 1.04B 1.09B
Total Other Income Expense Net -154M -162M -368M -1.49B
Ebit 1.07B 910M 1.04B 1.09B
Interest Expense -121M -128M -170M -163M
Income Before Tax 913M 748M 677M -404M
Income Tax Expense 234M 201M 193M 235M
Minority Interest 13M 13M 41M 131M
Net Income From Continuing Ops 679M 547M 484M -639M
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 679M 545M 476M -646M
Net Income Applicable To Common Shares 679M 545M 476M -646M

Balance Sheet Statement

Balance Sheet Statement history of Smurfit Kappa Group Plc (LSE:SKG)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Cash 855M 891M 189M 407M
Net Receivables 2.04B 1.46B 1.57B 1.6B
Inventory 1.05B 773M 819M 847M
Other Current Assets 32M 59M 38M 34M
Total Current Assets 4.07B 3.26B 2.68B 2.96B
Long Term Investments 24M 23M 26M 34M
Property Plant Equipment 4.71B 4.26B 4.37B 3.71B
Good Will 2.51B 2.34B 2.38B 2.36B
Intangible Assets 211M 208M 233M 229M
Other Assets 177M 200M 231M 201M
Deferred Long Term Asset Charges 149M 172M 185M 153M
Total Assets 11.71B 10.29B 9.93B 9.49B
Accounts Payable 1.42B 978M 1.02B 1.06B
Short Long Term Debt 46M 56M 93M 151M
Other Current Liab 306M 370M 313M 221M
Long Term Debt 3.3B 2.86B 3.2B 3.36B
Other Liab 899M 1.16B 1.22B 1.11B
Minority Interest 13M 13M 41M 131M
Total Current Liabilities 2.83B 2.23B 2.21B 2.12B
Total Liab 7.32B 6.51B 6.93B 6.6B
Retained Earnings 1.47B 917M 615M 420M
Treasury Stock 260M 207M 351M 355M
Capital Surplus 2.65B 2.65B 1.99B 1.98B
Other Stockholder Equity 319M 256M 393M 383M
Total Stockholder Equity 4.38B 3.77B 2.95B 2.76B
Net Tangible Assets 1.66B 1.22B 336M 169M

Cash Flow Statement

Cash Flow Statement history of Smurfit Kappa Group Plc (LSE:SKG)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Net Income 679M 545M 476M -646M
Depreciation 538M 542M 528M 406M
Change To Netincome 66M 63M 41M 1.38B
Change To Account Receivables -492M 22M 52M -99M
Change To Liabilities 624M 59M -44M 90M
Change To Inventory -246M 14M 40M -84M
Change To Operating Activities -198M -13M 57M -29M
Total Cash From Operating Activities 986M 1.25B 1.16B 1.03B
Capital Expenditures -594M -493M -612M -528M
Other Cashflows From Investing Activities 5M 13M 3M 5M
Total Cashflows From Investing Activities -1.01B -498M -735M -1.05B
Dividends Paid -302M -260M -238M -213M
Net Borrowings 313M -420M -263M 167M
Other Cashflows From Financing Activities -3M -16M -107M -14M
Total Cash From Financing Activities -14M -64M -629M -70M
Effect Of Exchange Rate -12M 19M -17M -27M
Change In Cash -49M 704M -218M -113M
Repurchase Of Stock -22M -16M -23M -10M