May 4, 2018 / 6:06 AM / 2 months ago

BRIEF-Smurfit Kappa Q1 earnings up 22 pct, FY seen materially better

May 4 (Reuters) - International Paper Co:

* SMURFIT KAPPA - Q1 UNDERLYING REVENUE GROWTH OF 7 PERCENT Y/Y, EBITDA GROWTH OF 22 PERCENT Y/Y TO 340 MILLION EUROS

* SMURFIT KAPPA - EBITDA MARGIN OF 15.7 PERCENT, SIGNIFICANT Y/Y IMPROVEMENT REFLECTING CAPITAL INVESTMENT, PRICING INITIATIVES, STRONG DEMAND

* SMURFIT KAPPA - IMPROVED NET DEBT TO EBITDA RATIO OF 2.2X; MEDIUM-TERM TARGET OF 1.75X TO 2.5X

* SMURFIT KAPPA - FY OUTCOME EXPECTED TO BE MATERIALLY BETTER THAN 2017; DELIVERING CONTINUED EBITDA GROWTH

* SMURFIT KAPPA - APPROVED OVER 230 MILLION EUROS OF NEW INVESTMENT AS PART OF CAPITAL PLAN BY END-APRIL

* SMURFIT KAPPA - INTENDS TO INVEST OVER 600 MILLION EUROS IN CAPITAL EXPENDITURE FOR 2018 Further company coverage: (Reporting By Padraic Halpin)

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