DS Smith announces strong half year financial results

DS Smith reports year-over-year corrugated box volume growth while leading the way in sustainability.

Key highlights from the FY21/22 results announced on December 9, 2021, include:

  • Record volume growth of 9.4% and excellent management of supply chain
  • Strong pricing offset significant input cost pressures, with profits up 92%
  • Strong momentum in North America; +64% adjusted operating profit growth
  • Continuing improved financial performance and growing market share in North America
  • Lebanon, IN facility continues strong e-commerce and FMCG production for local, regional, national, and global DS Smith clients operating in North America
  • Volatility in raw material and OCC costs offset by strong volume of orders in second half
  • $140M R&D investment, creating a new breakthrough technologies hub and new materials development to replace plastics, and pilot program to gauge G-force shock in home delivery packaging
  • Sustainability is a key driver with commitment to science-based target by 2030, cutting CO2 emissions per ton of product by at least 40% and net zero emissions by 2050

Please see below for additional comments from our Managing Director, Keith Ledbetter, on the past year’s highlights:

“As we complete the halfway point of DS Smith’s fourth year in the North American market, the best practices and operational processes implemented over the previous three years prepared the business well for the direct and indirect impacts of the Covid-19 pandemic.”

Keith Ledbetter, Managing Director, DS Smith North America

“We’ve strategically maintained strong pricing to offset rising input costs and inflation while driving significant volume growth in response to record demand for our sustainable packaging solutions.”

— Keith Ledbetter, Managing Director, DS Smith North America

“Sustainability also continues to be a key profit driver, driven by our Now and Next strategy, our recently announced science-based carbon reduction targets and the integration of our Circular Design Principles and Circular Design Metrics, which provides our customers with innovation and resources they need to meet their sustainability goals.”

“As a result of the resourcefulness, creativity, and dedication of our entire North America team, we were able to mitigate labor market issues, rising inflation around raw materials and increased order volumes by our customers to fulfill the demand for our sustainable packaging materials, at a time when they’re needed more than ever.”       

DS Smith, a leading sustainable packaging company, has a significant presence in North America with its U.S. headquarters in Atlanta along with 15 packaging, paper, and recycling facilities.

Media contacts

Mindy Myrick, Head of Corporate Affairs

mindy.myrick@dssmith.com / +1 410-251-9570

Caroline Curran, Hill+Knowlton Strategies

caroline.curran@hkstrategies.com / +1 256-653-5811