DS Smith

Return to box growth but continued IP bid uncertainty

  • Sectors : Paper & Packaging
  • Companies : DS Smith

Ratings and price correct at time of issue.

  • DS Smith

    Closing Price: 360p

  • RATING 08/05/24

  • PREVIOUS RATING 23/01/23



DS Smith’s £701m FY24 EBITA was in-line with consensus, with a positive FY25E box demand and pricing outlook. However, due to raw material and labour cost inflation, we reduce FY25E adjusted EBITA by 3% to £680m (in-line with consensus). Expect DS Smith investor sentiment to remain dominated by uncertainty regarding the potential Suzano offer for International Paper (IP) ahead of IP’s Q2 2024 results on July 25th.

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Jun 21 2024, 14:30 IST/BST