The consolidated sales of the group increased by EUR 928.9 million to EUR 2,218.5 million (H1 2021: EUR 1,289.6 million). This increase resulted primarily from the acquisitions of the previous year and from passing on cost increases through higher prices. At EUR 285.0 million, the operating result was EUR 192.9 million higher than in the previous year (H1 2021: EUR 92.1 million). The significant increase results in particular from the MM Board & Paper division. In the previous year, one-time expenses from adjustment and restructuring measures amounting to EUR 26.1 million were recorded in the packaging division. The Group's operating margin thus reached 12.8% (H1 2021: 7.1%). The profit for the period increased by EUR 143.6 million to EUR 205.8 million (H1 2021: EUR 62.2 million).

*Net earnings of $165 million ($0.47 per diluted share); Adjusted operating earnings (non-GAAP) of $224 million ($0.64 per diluted share) *$75 million of earnings achieved from Building a Better IP initiatives, bringing year-to-date to $195 million, exceeding full-year targets *Cash provided by operations of $468 million, bringing year-to-date to $1.3 billion *Returned $160 million to shareholders in dividends, bringing year-to-date to $679 million in share repurchases and dividends *Completed the sale of our Ilim Joint Venture interest for $508 million

Smurfit Kappa Group, one of the world's largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, is pleased to announce that it has completed the acquisition of Cartonbox, a folding carton company located in Monterrey, in the north-east of Mexico. The acquisition represents an important milestone for the Company as it strengthens its participation in the paper packaging solutions business in Mexico, expands its footprint to four folding carton locations in the country, and reaffirms its commitment to paper-based packaging as the core strategic business for the Company.