Smurfit Kappa Share Discussion Threads

[lbo] 04/12/2008 21:00

I suggest you go and ask if Carrols troubles were relevant to his shareholdings in Greencore or Aer Lingus etc etc. Or if Sean Quinns troubles has had any effect on Anglo.

The stock market is the only liquid investment around at the moment so yet again you can't see the wood from the trees!



To let:

2nd And 3rd Floors, Jefferson House, Eglington Road, Donnybrook, Dublin 4

PS you forgot to add in the other Smurfit Family holdings! Or maybe yet again you have not done your research!



"Michael Smurfit and his family own about 8% of the company"



"But the flotation will not trigger a windfall for those shareholders just yet. Michael Smurfit, who holds around 4 per cent of Smurfit Kappa, and his co-owners have committed to holding their shares for an initial lock-in period of six months after the float takes place. What happens beyond the lock-in remains a matter for "

[murraysmint] 04/12/2008 20:45

LBO

I am sorry but that is just plain silly

Here are the facts as I do my own research

1. SKG does not own the K Club or have any interest in it

2. Michael Smurfit is not the biggest shareholder in SKG

3. Michael Smurfit owns less than 5% of SKG

Therefore you are posting irrelevant information. Accept the fact that you were wrong.

[lbo] 03/12/2008 22:48

It has plenty to do with Michael Smurfit! And Smurfit is still a shareholder in Smurfit Kappa. And these cash consuming liabilities are very relevant in the current enviornment when only liquid assets can be sold eg shares to cover cash calls on loss making investments. Just go and ask Sibir Energy what effect the downturn in Russian property has had on its largest shareholder and Sibirs share price. Or closer to home look at the many Irish public companies that have seen so many large shareholders forced to sell shares due to losses in Property. Or I suppose you would say that the losses at Waterford Crystal have no relation to Independent Newspapers!

So perhaps you should not post as you have not done your research!



Shares in Smurfit Kappa fell by 5c to E1.75. Goodbody Stockbrokers notes that DS Smith (the No.3 player in the European corrugated box market) reported a 10pc decline in operating profit for the six months to the end of October, on sales up 17pc (excluding acquisitions and currency the respective changes where -16pc and +3pc). This reflected slowing markets and higher input costs. Of direct relevance to Smurfit Kappa is the performance of the corrugated businesses. In the UK profits declined by 28pc (lower volume and higher costs), while in Europe profits were up 100pc.

[murraysmint] 03/12/2008 20:36

LBO - please do your research or dont post at all!

The K Club has nothing to do with Smurfit Kappa Group

[lbo] 27/11/2008 00:35

It's the latest blow to the prestige of country club and golf courses, which lost €5.5m last year.

Already, KPMG, the auditors of the K Club, has questioned whether the golf and country club is worth what it is valued at in the company accounts.

In the K Club books, the sprawling estate is valued at €99m, but KPMG suggested "the group's current trading results and developments in the economic environment, in particular the downturn in the property market, creates an uncertainty about the appropriateness of the carry value of the fixed assets".













Smurfits Art

[murraysmint] 12/11/2008 12:08

Smurfit Kappa (Buy, Closing Price €2.00)

Q3 results, cash generation to the fore

Analyst: Robert Eason
Smurfit Kappa has reported Q3 EBITDA of €231m for the three months to September. This was slightly ahead of our forecast of €226m and consensus of €229m (range of €205m to €245m). While it represented a yoy decline of 16% and margin compression of 190bps to 13.2%, the company continues to outperform its peer group in an environment of slowing demand and rising costs (for example, SCA reported Q3 EBITDA down 30% yoy on the back of a 370bps fall in margins). Net debt at the end of the quarter was €3,192m versus our expectation of €3,223m, with the key variance being better than expected working capital. This leaves net debt to EBITDA at 3.1x which is well below covenants. Furthermore, management reiterates the favourable maturity profile of debt (no major repayment in next four years) and its strong cash position (€730m) and undrawn facilities of €600m. While markets are expected to remain challenging, "it remains on target to deliver the expected level of financial performance in 2008". Our current FY08 reported EBITDA forecast of €942m is broadly in line with consensus. The tough market conditions are expected to continue in 2009, however, there are a number of incremental positives, namely declining interest rates, stronger US$, further capacity reductions and increasing financing risk for players introducing new capacity. Against this backdrop, management are increasing its focus on cash generation and to this end it will "progressively reduce ... capital expenditure from current levels". While not mentioned in the statement, the other measure that can be taken is to pay no dividend.

[lbo] 12/11/2008 10:48

Smurfit Kappa third quarter profits drop

[murraysmint] 12/11/2008 09:08

Very strong set of results

Seems well placed and prepared to weather this storm

[smicker] 06/11/2008 17:28

Did they not get rid of the k club?

[simon tuer] 06/11/2008 09:03

3rd quarter results out soon. sold off because of debt. div 16%, forcast 24%. dividend confirmation will send this stock higher. also worth noting geographical locations of business, northern europe/brasil. will benefit hugely from high dollar. long from E1.44. oversold.

[lbo] 06/11/2008 00:15

KPMG, auditors to the loss-making K Club, has questioned the appropriateness, in the current economic environment, of carrying the value of the hotel, country club and golf courses at almost 99 million euro as fixed assets in the holding company's accounts. Accounts just filed with the Companies Office Bishopscourt Investments which operates the 2006 Ryder Cup venue The K Club at Straffan in County Kildare show it made losses of 5.5million euro in 2007 (2006: 4.2m euro) and expects to makes losses this year and next year also. - Irish Examiner

Smurfit shares face dilution

[smicker] 03/11/2008 09:38

Hermana,
I dont know about big Mick but i wouldnt be at all surprised to find Tony considering it. Problem is financing it at this time. Having said that, it would be some piece of business to buy it back at this price

[hermana] 03/11/2008 09:13

sm,could big Mick be about to buy at low again? Houdini has nothing on de egotistical paper giant....

[smicker] 03/11/2008 09:03

and back out

Amazing to find 20% moves in 2 days for a company of this size that makes boxes and no news to speak of.

[smicker] 01/11/2008 16:32

Well,
I'm back in anyway

[phillis] 21/10/2008 11:25

Time for him to buy out the Company - AGAIN!

[lbo] 20/10/2008 21:20

Michael Smurfit, owner of the K Club, has lost €74m in Smurfit Kappa, the cardboard company that he founded.

Another article says Smurfit has fallen from its 2007 IPO of €16.50 to €1.87 with a current Mkt Cap of only €420m. It says its operataing in an industry that closely tracks the economic swings. It also says its also heavily indebted at €3.4bn.

[phillis] 01/9/2008 12:37

Nice bounce

[declan2] 14/8/2008 12:57

looks like it, cud b a good time to add - max online limits 250 tho

[intuanua] 13/8/2008 12:09

looks like an overhang kicking in on any good news

[declan2] 08/8/2008 10:17

Should be positive, shame i never added, never have cash when needed :(

[intuanua] 06/8/2008 14:35

Results out on Monday - that will be interesting?

[hermana] 31/7/2008 17:29

Declan,on what basis do you make above statement?

[declan2] 31/7/2008 17:24

Yep, but the knife is on the floor now lol :)