Cascades’ 2020 Fourth Quarter Financial Results and Full Year Financial Results

Mexico is the second largest economy in Latin America, after Brazil, and has an ideal location for accessing the US market. It is becoming increasingly attractive for global companies that are nearshoring by moving production away from Asia to the north part of the country, between the cities of Monterrey and Tijuana. The Mexican economy is estimated to grow up to 3.0% both this year and next, boosted by increased manufacturing investment, according to the most up-to-date government forecast*. Smurfit Kappa’s latest USD12 million investment in its Tijuana plant includes new machinery and process upgrades which will significantly increase both printing quality and efficiency. Laurent Sellier, Smurfit Kappa CEO of the Americas, commented: “Mexico is an important market for Smurfit Kappa. We have invested substantial resources both in paper machines and corrugated plants while increasing our network to support the country’s economy and our customers’ needs.

As an $18 billion-dollar global company, WestRock understands the important role it can play in driving greater sustainability in the packaging industry, for — and with — its customers. It does this by providing customers with a portfolio of sustainable fiber-based packaging options and working with them to create tailored sustainable packaging solutions to meet their individual sustainability needs. Every day, WestRock’s fiber-based packaging solutions deliver vital products to millions of customers, and the company is proud of the pivotal role it has played during the COVID-19 pandemic, ensuring consumers receive much-needed items when they need them the most.

January–December 2021 (compared to 1–12/2020) • Sales were EUR 2,084.1 million (1,889.5). • Comparable operating result was EUR 386.6 million (221.2), or 18.6% (11.7) of sales. Operating result was EUR 375.9 million (227.3). • Comparable earnings per share were EUR 0.85 (0.46), and earnings per share were EUR 0.82 (0.48). • Comparable return on capital employed was EUR 18.7% (12.2). • Net cash flow from operations was EUR 329.6 million (307.7). October–December 2021 (compared to 10–12/2020) • Sales were EUR 518.5 million (473.1). • Comparable operating result was EUR 91.3 million (64.5), or 17.6% (13.6) of sales. Operating result was EUR 90.8 million (64.5). • Comparable earnings per share were EUR 0.20 (0.14), and earnings per share were EUR 0.19 (0.14). • Comparable return on capital employed was 16.1% (14.3). • Net cash flow from operations was EUR 119.7 million (81.0).