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BASIC INDUSTRIES: Smurfit Westrock (SW Baa2[P]/BBB/BBB[P]): 4Q24 Results

BASIC INDUSTRIES

Not much read from this, with the post-merger transition.

  • SW reported revenue 2% ahead of consensus.
  • EBITDA missed by 4%.
  • It has identified an additional $400mn in cost savings, which could boost margins by ~1.6% if not reflected in consensus.
  • FCF was $260mn. Reported net leverage at 2.7x. It targets sub 2x long term.
  • FY25 capex guidance 27% above consensus. 1Q25 adj. EBITDA guidance aligns with consensus.
  • Webcast 12.30 GMT https://edge.media-server.com/mmc/p/34srve5r/.
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Not much read from this, with the post-merger transition.

  • SW reported revenue 2% ahead of consensus.
  • EBITDA missed by 4%.
  • It has identified an additional $400mn in cost savings, which could boost margins by ~1.6% if not reflected in consensus.
  • FCF was $260mn. Reported net leverage at 2.7x. It targets sub 2x long term.
  • FY25 capex guidance 27% above consensus. 1Q25 adj. EBITDA guidance aligns with consensus.
  • Webcast 12.30 GMT https://edge.media-server.com/mmc/p/34srve5r/.