Full Year Results 2022/23 - Excellent performance in challenging markets

DS Smith Plc, a leading international packaging business, today announces its full year results to 30 April 2023.

Financial highlights

  • £8,221m revenue (+11% versus 2021/22 at constant currency)
  • 1.3x net debt/EBITDA (versus 1.6x in 2021/22)
  • 14.3% ROACE (versus 10.8% in 2021/22)
  • £861m adjusted operating profit (+35% versus 2021/22 at constant currency)
  • 18.0p dividend per share (+20% versus 2021/22)
  • 10.5% return on sales (+190bps versus 2021/22)


  • 762m units of plastic replaced with recyclable alternatives since 2020/21
  • 15% reduction in total Scope 1, 2 and 3 GHG emissions since 2019/20
  • 6% reduction in accident frequency rate compared to last year
Miles Roberts, Group Chief Executive

The performance of the business during the year has been excellent, despite the challenging economic environment and I am extremely proud of all our colleagues for their dedication and support. We have had an unremitting focus on meeting our customers’ rapidly changing needs with new innovation. This, together with high levels of service and our sustainability performance, has been rewarded through market share gains during the period.

— Miles Roberts, Group Chief Executive

Webcast presentation

To replay the results presentation audio webcast and Q&A with investors and analysts, please click here.