Smurfit Westrock Reports $31.18 Billion in Net Sales for 2025, Driven by WestRock Acquisition

Smurfit Westrock plc, a global leader in sustainable paper-based packaging formed through the combination of Smurfit Kappa and WestRock Company in July 2024, reported net sales of $31.18 billion for the year ended December 31, 2025. This represents an increase of $10.07 billion compared to the $21.11 billion reported for the year ended December 31, 2024. The increase in net sales was primarily attributed to the inclusion of WestRock's operations for a full year, contributing $9.85 billion to the total. Excluding the impact of the acquisition, net sales increased by $225 million, driven by a higher selling price mix of $487 million and a net positive foreign currency impact of $452 million, partially offset by a negative volume impact of $716 million.

The company's net income attributable to common shareholders for 2025 was $699 million, a significant increase of $380 million from the $319 million reported in 2024. This increase was primarily due to the operations acquired in the Combination. The positive impact of the acquired operations was partially offset by increased interest expense, net, post Combination, and increased impairment and restructuring costs. The company's cost of goods sold increased by $8.22 billion to $25.14 billion, primarily due to the inclusion of WestRock's operations. Selling, general, and administrative expenses also increased by $1.08 billion to $3.82 billion, again largely due to the acquisition.

Operationally, Smurfit Westrock's North America segment reported net sales of $18.58 billion and Adjusted EBITDA of $3.00 billion, while the Europe, MEA, and APAC segment reported net sales of $10.89 billion and Adjusted EBITDA of $1.62 billion. The LATAM segment reported net sales of $2.11 billion and Adjusted EBITDA of $485 million. The company's business strategy combines the key strategic priorities of both Smurfit Kappa and WestRock, with a continuing focus on the successful integration of the two businesses. The company's vision is to dynamically and sustainably deliver secure, superior and long-term value for all stakeholders, as one of the world’s great companies, guided by its core values of safety, loyalty, integrity and respect.

Smurfit Westrock's commitment to sustainability is evident in its culture and behaviors at all levels and across all areas of its business, informing its strategic business decisions and actions, now and into the future. The company is committed to creating packaging solutions that protect what we all care about. The company recognizes the need for climate-related disclosures as part of its commitment to sustainability and responsible corporate citizenship. The company published an overview of its approach to climate risk management in the first half of 2025 as part of its 2024 sustainability report which took into consideration the recommendations of the Task Force on Climate-related Financial Disclosures.

Looking ahead, Smurfit Westrock believes that the cash flows generated from its operations, cash on hand, its commercial paper program, available borrowings under its committed credit lines and available capital through access to capital markets will be adequate to meet the Company's liquidity and capital requirements, including payments of any declared dividends, for the next 12 months and for the foreseeable future. On February 3, 2026, the Company announced that its Board approved a quarterly dividend of $0.4523 per share on its ordinary shares representing a $1.81 annualized dividend, or an increase of 5% from the prior dividend.