London Kukadzi 10, 2020 (Thomson StreetEvents) -- Yakagadziridzwa Transcript yeSmurfit Kappa Group PLC muhoro wemusangano wekufona kana mharidzo Chitatu, Kukadzi 5, 2020 na9:00:00am GMT.
Zvakanaka.Mangwanani mese, uye ndinoda kukutendai zvikuru nekuuya kwenyu, pano neparunhare.Setsika, ndichakwevera pfungwa dzako kuSiraidhi 2. Uye ndine chokwadi kana tikakukumbira kuti udzokorore izvi, unozokwanisa kuzvidzokorora neshoko, saka ndichazvitora sekuverenga.
Nhasi, ndinofara chaizvo kuzivisa seti yemhedzisiro inoratidza zvakare kusimba kwekuita kweSmurfit Kappa Group kunopesana nematanho ese.Sezvatakambotaura, Smurfit Kappa Boka rakashandurwa, asi zvakanyanya kukosha, kushandura bhizinesi, rinotungamira, richivandudza uye rinogara richiunza.Tiri kurarama chiono chedu, uye kuita uku kunomiririra rimwe danho rekuzadzikiswa kwechiratidzo ichocho.Kudzoka kwedu kunoratidza zvese zviri zviviri kunaka kwevanhu vedu uye hwaro hweasset huri kuramba huchivandudza.Uye izvi zvakaunza kukura kweEBITDA kwe7% uye margin ye18.2%, nekudzoka pamari ye17%.
Mukati megore, uye zvichifambirana neChirongwa chedu cheMedium-Term, takapedza nhamba huru yemapurojekiti makuru akakosha.Muna 2020, isu tinotarisira kupedzisa ruzhinji rwemapurojekiti edu eMedium-Term Plan European mapepa, zvichitisiya takasununguka kuenderera mberi nekudyara kwedu mumabasa edu emarata akatarisana nemusika.Yedu yekuwedzera yakawanda inomira pa2.1x, uye yedu yemahara mari inoyerera yakasimba EUR 547 miriyoni, uye izvi zviri mushure mekudyara EUR 730 miriyoni mubhizinesi redu.
Sezvauchaona, Bhodhi iri kukurudzira kuwedzera kwechikamu chegumi nembiri muzana, izvo zvinoratidza kutenda kwayo musimba rakasiyana reSmurfit Kappa bhizinesi modhi uye, chokwadi, purofiti yedu yeramangwana.
Mukuburitswa kwedu kwemihoro mangwanani ano, takataura nezve kuenderana kwekuunza zvine hungwaru, mukushanda uye nemari.Uye isu tinoisa izvi zvichipesana nemamiriro enguva refu, achipesana nematanho akakosha ekuita pane ino siraidhi.Iwe unogona kuona pano zviri nyore kuvandudzwa kwechimiro pane ese akakosha ekuita metrics.
Kunyange kubudirira kusiri mutsara wakatwasuka, rwendo rwedu rwenguva refu rweshanduko rwakapa Smurfit Kappa kuwedzera kwemamiriyoni mazana matanhatu emadhora muEBITDA, 360 hwaro hwekuwedzera muEBITDA margin, 570 hwaro hwekuwedzera muROCE yedu, uye izvi zvagonesa inofambira mberi uye inoyevedza dividend stream ine CAGR ye28% kubvira 2011. Muna 2020, tarisiro yedu ndeyekuenderera mberi nekubuda kwemari yemahara uye kuenderera mberi nekuvaka chikuva chirinani chekushanda kwenguva refu uye kubudirira.
Zvino kuSmurfit Kappa, isu tiri vatungamiriri mumisika yedu yakasarudzwa uye zvikamu, uye ichi ndicho chirevo chepakati pane zvese zvatinoita nekufunga nezvazvo.Rega ndikugadzirise izvi newe.Sustainability iri kuwedzera kukosha kune Smurfit Kappa uye vatengi vedu.Chigadzirwa chedu, chakasvibiswa, ndicho chakanyanya kugadzikana uye chinoenderana nemamiriro ekunze ekufambisa uye merchandising medium iripo nhasi.Sezvamunongoziva mese, kuita kwedu kwakasimba kwemari kwanga kusiri kwekusiya mabasa edu eCSR.Unogona kuona kuti, pakatarisana nekutanga kwa2005, isu takadzikisa tsoka yedu yeCO2 pane zvese zviri zviviri uye zvine mwero hwaro nekupfuura 30%, uye isu tine hurongwa hwekuvandudza izvi zvakare nekuderedzwa kwedu kutsva kwe40% kwakanangana ne2030.
Takaparura yedu yechigumi nembiri yekuenderera mberi mushumo muna Chivabvu 2019 uye tasangana kana kudarika zvatakanga tatarisira pamberi pegore ra2020.Kufambira mberi uku kwave kucherechedzwa zvakasimba nevechitatu mapato akazvimiririra sezvo Smurfit Kappa iri kuramba ichifambira mberi nekutsigira chirongwa cheUN 2030 Sustainable Development Goal.
Iyo nhanho yekufarira kubva kune vatengi vedu, inova yakakosha muBetter Planet Packaging yedu, yakanyatso shamisa ne2 zviitiko zvichangoburwa, kunyanya, kuratidza izvi.Muna Chivabvu, takabata vatengi vanopfuura mazana matatu nemakumi mashanu, zvakapetwa kaviri, zvakapetwa kaviri chiitiko chakapfuura kubva pasirese kune yedu yepasi rose Innovation Chiitiko muNetherlands.Ibwe repakona rechiitiko ichocho raive Better Planet Packaging, uye chainyanya kufadza yaive nhanho yevakuru yakamiririrwa pachiitiko ichi, zvichiratidza kukosha kune iyi nyaya nevatengi vedu vese.
Musi wa21 Mbudzi, kutanga muSt. Petersburg tichipera muLos Angeles, takaita Global Better Planet Packaging Day munyika 18 tichiita vatengi vanopfuura mazana matanhatu nemakumi mashanu, varidzi vemhando nevatengesi.Isu takashandisa edu makumi maviri nematanhatu epasirese ruzivo nzvimbo sepuratifomu yekubatsira vatengi vedu kufamba munyika itsva ino.Zviitiko zviviri izvi zvinoratidza kuti kana uchigadzirira kushandura tsika dzevatengi, mabhureki anotungamira anouya kuSmurfit Kappa Group semutungamiri wekugadzira mhinduro dzinogoneka.Yedu Better Planet Packaging chirongwa chakatangwa makore 1.5 apfuura uye chakatowana - chakawana kukanganisa pamusika wekurongedza.
Semutungamiri weindasitiri ine corrugated indasitiri, tinoshanda muindasitiri yekukura ine misika yedu yakawanda iri kukura kana pamberi peiyo fungidziro yekukura kwepasirese ye1.5% kusvika 2023. Kune akati wandei ezvimiro kana zvepasirese ekukura madhiraivha ayo asiri kungochinja zvakanyanya maapplication. yemarara asiwo kukosha kwayo kwenguva refu.Izvi zvinosanganisira marata ave achiwedzera kushandiswa senzira inobudirira yekutengesa;e-commerce kusimudzira, uko corrugated ndiyo nzira yekufambisa yesarudzo;uye kukura kweprivate label.Uye isu tichagadzira kurongedza kwakasimba seyakarongeka yekukura nyaya isu tichipfuura nemuratidziro.
Tichifunga nezve maonero akanaka eindastiri yedu, Smurfit Kappa ndiyo kambani inoiswa zvakanyanya kutora mukana munguva pfupi, yepakati uye yakareba yeaya maitiro akanaka ezvimiro.Isu takagadzira maapplication akasarudzika uye asingakwanise kudzokororwa nemumwe mutambi mubhizinesi redu, kungave zviuru zana nemakumi mana neshanu zvezvitoro zvinoonekwa muShelf Viewer kusvika zviuru zvisere nemazana mana ezviuru zvemacheni muPack Nyanzvi kana makuru-kupfuura-8000 emuchina masisitimu ane, anoshanda kana inochengetwa neSmurfit Kappa Group kune vatengi vayo.
Nhanho yedu yepasi rose haigone kuenzaniswa.Zvakangofanana, nekufamba kwenguva, isu tinoramba tichiisa mari kuti tiite yakanyatsoshanda, inovandudza uye yepasi-yemhando yeasset base iyo inokwanisa kupa vatengi vedu zvigadzirwa zvemhando yepamusoro nemutengo wakaderera unobvira.Yedu yakasanganiswa modhi inobvumira Smurfit Kappa kuti itore zvizere mukana wezvose zviri zviviri chinzvimbo, hwaro hwemidziyo uye ruzivo rwatinarwo mubhizinesi redu.
Uye pamusoro peizvi zvose, tine vanhu vedu.Uye zvechokwadi, kambani imwe neimwe inotaura nezvevanhu vavo.Asi ini ndinonyanya kudada netsika yatakagadzira, iyo vanhu vanogashira hunhu hwekuvimbika, kuvimbika uye ruremekedzo mukambani ino.Mukudzoka, Smurfit Kappa yakatanga zvirongwa zvekudzidzisa pasi rose, zvakadai seINSEAD, apo vatungamiri vedu vese vakuru vachange vapedza chirongwa cheutungamiri hwemavhiki akawanda pakupera kwa 2020. Iyi purogiramu ndeyechokwadi, kuwedzera kune kudzidziswa kwatinoita. ipa zvimwe zviuru zvematarenda echidiki ari kuuya anozosimudzira tsika nemagariro zveSmurfit Kappa mune ramangwana.
Uye pakupedzisira, sezvakambotaurwa, kusimba ibasa rakakomba rekukwikwidza, kutanga kuSKG, asiwo kune indasitiri yedu, sezvo kushandiswa kwepepa-based packaging kwakanakisa munyika yakagadzikana.
MuSmurfit Kappa, hunyanzvi uye kusimudzira zviri muDNA yedu.Pakati pe25% ne30% yebhizinesi redu gore rega rega ibhokisi richangobva kugadzirwa rakadhindwa revatengi vatsva kana varipo.Nehuwandu hwekuchinja uku, zvakakosha kuve neruzivo uye kugona kugadzira, kuwedzera kukosha, kuderedza mitengo uye kupa vatengi mhinduro yakanakisa yebhizinesi ravo nemusika.Izvi zvinosimbisa kukosha sezvakarongwa muchiono chedu chekuendesa zvine simba kune vatengi vedu zuva nezuva.
Sezvandambotaura, kusangana uye kutsanangura kudiwa kwekurongedza hunyanzvi, Smurfit Kappa mumakore gumi apfuura yakagadzira nzvimbo makumi maviri nenhanhatu dzezviitiko pasi rese.Iwo echokwadi innovation hubs anobatanidza iyo Smurfit Kappa nyika kuitira kubatsira kwevatengi vedu.Nzvimbo dzedu dzepasirese dzeruzivo dzepasi rose musiyano wakakwana sezvo nyika ino yakabatana nezvose zvatinoshandisa, zvichipa vatengi vedu hunyanzvi hwepasi rose hwekambani nekungodzvanya bhatani.Uye izvi zvinopa mukana wekudzika uye ruzivo uye hupamhi hwekambani yedu nekusvika kwenzvimbo kwatinako.
Saka chii chiri mune idzi innovation hubs chinoita mutsauko kune vatengi vedu?Chekutanga, tinotora nzira yesainzi.Nedata uye ruzivo, tinogona kuratidza kune vatengi vedu kuti vanowana yakakwenenzverwa yekurongedza inokodzera chinangwa nekutasa kushoma.SKG kuburikidza nekushandisa kwayo yakazvipira kudzikisa tsvina kuburikidza nesainzi, kusanganisira mune yedu chigadzirwa chemarara.Hatidi kuona zvigadzirwa zvakawandisa.Zvikuru, tinopa varidzi vemhando yedu vimbiso kuburikidza nechinzvimbo chedu semutungamiri akagadzwa kuti mhando yavo ichadzivirirwa kuburikidza nekushandiswa kweSmurfit Kappa zvigadzirwa.
Kuti tive nechokwadi chekuti tazadzisa zvinangwa zvakakosha izvi, tine vanopfuura chiuru vanogadzira zuva rega rega vachiona kuti pfungwa itsva dziri mumaoko evatengi vedu.Vagadziri ava vanogara vachigadzira mazano matsva anogadzira nzvimbo yekuchengetera vatengi vedu kuti vashandise bhizinesi ravo.Nzvimbo dzedu dzechiitiko dzinoratidzawo mhinduro dzedu dzekupedzisira-kusvika-kumagumo, kungave kuri kugona kwedu masisitimu emuchina kana magwaro edu ekuchengetedza, tichikwanisa kushandira chero chirango chinodiwa nevatengi vedu kushandisa.Yedu innovation hubs inopa mukana wekuwedzera mukati mevatengi kuraira mukati mevatengi vedu nyika, ingave iri mukutenga, kushambadzira, kusimudzira kana chero imwe chirango icho mutengi wedu anoda kushanyira nacho.
Pakupedzisira, kunyange zvakadaro, nzvimbo dzedu dzinopa kukwanisa kwevatengi vedu kubudirira mumusika wavo.Kuda kwavo kutengesa zvakawanda, uye muSKG, tinogona kuvabatsira kuita izvozvo.Nekupfuura 90,000 mucherechedzo wevatengi uye neakasarudzika uye asingadzoreki maapplication atinawo, tinoratidza kune avo vatengi mazuva ese kuti bhokisi remarata inzira inoshamisa yekutengesa uye yekushambadzira.
Uye hunyanzvi huri kuendesa mazuva ese eSmurfit Kappa Group.Hechino humbowo hwekuti sei -- nekungove vashoma vevakuru, vatengi vane hunyanzvi pasi rose, kukura kwatakaita zvakasimba.Kuonga kwavo chipo chedu kunoratidzwa zvinooneka nekukura kunoratidzwa mune ino masiraidhi.Iyi mienzaniso ingori mishoma yezviuru nezviuru zvemienzaniso yebudiriro yatinoramba tichiita nekuda kwekupa kwedu hunyanzvi.
Nhasi, vatengi vedu vanoona Smurfit Kappa Group semubatsiri wesarudzo nekuti isu nguva dzose, mazuva ese, tinopa yakasarudzika muchikamu chedu.Isu tinovabatsira kuti vawedzere kutengesa kwavo, tinovabatsira kuderedza mitengo yavo uye tinovabatsira kuderedza njodzi.
Ndatenda, Tony, uye mangwanani, mose.Ndisati ndataura nezve mhedzisiro mune zvishoma zvakadzama, ini ndinongoda kutarisa pane chimwe chezvinhu zvakakosha uye zvimiro zvevatyairi zvakataurwa naTony, iyo inosimudzira ajenda.Zvakakosha kuyeuka kuti SKG yanga yakatarisana nekugadzikana kwenguva yakareba.Gore rino richava gore redu rechigumi nenhatu rekutakura tichipesana nezvinangwa zvedu, uye kana tichitaura nezvekuchengetedza, ndiko kugadzikana mune yega fiber, kusanganisira fiber yevanhu.
Asi pave nekuchinja mumakore achangopfuura uye vatengi vedu, hurumende nevatengesi vangori vashoma vevatori vechikamu vanofambisa ruzivo rwakatenderedza kurongedza kurongedza nenzira yatisati tamboona.Uye kazhinji, nhaurirano iyoyo inotenderera pamusoro pemisoro miviri: basa rekurongedza mukupokana kwekuchinja kwemamiriro ekunze uye matambudziko nekushandisa-kamwechete, epurasitiki-inotungamira inokonzeresa gakava rakatenderedza kukanganisa kwemarara ese ekurongedza.Mutengi anotarisira kuti vanogadzira zvigadzirwa vatungamirire.Saka nepo vatengesi nemaNGOs vari kuita kune zvikumbiro zvevatengi, vanotarisira vanogadzira, vatengi vedu, kuti vatungamire.Uye nekupihwa nhoroondo yedu refu munzvimbo iyi, isu takamisikidzwa zvakasiyana kuti tivabatsire.Uye sezvandambotaura kare, isu tine kusimba mune yega fiber.
Chiri kujeka zvakare ndechekuti mapepa-based packaging iri kuita sarudzo yakasarudzika, uye izvi zvakanyanya nekuda kwemaitiro achangoburwa, e-commerce iri kusimukira, kuwedzera kwesimba revatengi uye, pamusoro pezvose, kusimba mune yakafara pfungwa, zvese chigadzirwa uye zvechokwadi. kwezvakatipoteredza kukanganisa.Chese chidimbu chekutsvagisa, kungave maonero ezvakatipoteredza, kudiwa kana maonero emhando, anosimbisa kuti kutamira kune mapepa-based packaging kunowedzera maonero akanaka emhando yako.Ini zvakare ndinotenda kuti, nekufamba kwenguva, tichaona yakawedzera mirau uye mutemo munzvimbo ino, uye sezvauchaona pane inotevera slide, Smurfit Kappa yatove nemhinduro idzodzo munzvimbo.
Sezvakataurwa naTony, kuitira kutungamira indasitiri uye nekutsigira zvakare vatengi vedu uye mutengi wekupedzisira, takatangisa Better Planet Packaging.Ichi chakasarudzika chirongwa chakapa chinangwa kune inogoneka yekurongedza ajenda nekugadzira uye kuita ekupedzisira-kusvika-kumagumo ekusimudzira ekuisa pfungwa.Icho chiito chekuunganidza cheni yese yekukosha kune akawanda lens, kudzidzisa uye kukurudzira vese vanobatana muketani yekukosha, kusanganisira iyo inonyanya kukosha, mutengi;kufambisa hunyanzvi mune zvimwe zvinhu zvakatsiga uye dhizaini yezvigadziriso zvepakeji zvakatsiga;uye pamusoro pezvose, kuita zvigadziriso zvepakeji zvinogadziriswa kune zvisingagoneke zvekurongedza zvinhu.
KuSmurfit Kappa, ruzivo rwedu, ruzivo uye hunyanzvi hwakatibvumira kugadzira anopfuura zviuru zvinomwe nemazana mashanu ekugadzirisa ekugadzirisa, akagadzirira kuita uye kugadzirisa chishuwo chevatengi chekusiya kurongedza kushomeka.Yedu yakazara chigadzirwa portfolio kubva pabepa kuenda kumabhokisi, kubhegi uye bhokisi uye huchi, inofukidza iyo yese spectrum yevatengi uye yekutakura yekurongedza, inotiita akavimbika akavimbika ekuvandudza mudiwa.
Asi kunyatsogadzirisa matambudziko anhasi, ruzivo rwebepa rakasimba, kunyanya mu kraftliner, rinoda kusanganiswa nepasi rose, kuhwina-kuhwina dhizaini dhizaini yakavakirwa pane data uye yakapupurirwa pfungwa dzesainzi, pamwe nehunyanzvi husingaenzaniswi mukugadzirisa muchina.Mumwe muenzaniso wakanaka wekuti Smurfit Kappa innovation inoshandisa sei ruzivo uye inosimudzira kushandira pamwe pane iyo kukosha ketani ndeye TopClip.Isu takagadzira yakasarudzika mhinduro yekusungirira makoni, uye pamwe chete nemumwe wevakuru veautomation vanopa pasi rose muKHS, tave kutogadzira izvi chaizvo kune vatengi vedu.Izvi zvakajeka zvine application muhuwandu hukuru hwezvikamu zvechigadzirwa, uye zvakanyanya kukosha, zviripo ikozvino pasi rose kune vese vatengi vedu.
Zviripachena kuti mumakore apfuura, SKG yakawedzera kuoneka kwechigadzirwa chayo pamasherufu senzira dzekushambadzira dzinokwezva zvakananga kumutengi wekupedzisira.Uye isu tichiri pamatanho ekutanga echingangove nhanho isingadzivisike yakanangana nebepa-based packaging, zvigadzirwa zvatinoramba tichigadzira nazvo zvinogadzirisa zvinonetsa zvevatengi pamusoro pekuchengetedza.
Saka tichienderera mberi nekuona kuti zvimwe zvacho zvinoshandura sei kuita mibairo uye kuita kwedu kwemari, uye kushandura iko zvino kugore rakazara mune zvimwe zvakadzama.Isu tinofara kuunza imwe seti yakasimba yemhedzisiro yegore rose ra2019, kungave kana pamberi pese makiyi metrics edu.Mari yeboka yaive EUR 9 bhiriyoni yegore, yakakwira 1% muna 2018, inova mhedzisiro yakasimba tichitarisa kumashure kwemitengo yakaderera yebhokisi.
EBITDA yaive yakakwira 7% kusvika EUR 1.65 bhiriyoni, nekukura kwemari muEurope nekuAmerica.Ini ndichawedzera pakupatsanurwa kwechikamu nechinguvana, asi padanho reboka, EBITDA yakakanganiswa nemari, nepo kutora mambure uye kukanganisa kweIFRS 16 kwaive kwakanaka.Isu takaonawo kuvandudzwa kweiyo EBITDA muganho kubva pa17.3% muna 2018 kusvika 18.2% muna 2019. Takaona miganho yakavandudzwa muEurope neAmerica, zvichinyanya kuratidza mabhenefiti ehunyanzvi hwedu hwakatarisana nevatengi, kusimba kweboka rakasanganiswa modhi, inodzoka kubva kuchirongwa chedu chekushandisa mari uye mupiro kubva pakutora uye zvechokwadi kukura kwevhoriyamu.
Isu takaunza kudzoka kune capital yakashandiswa ye17%, zvakanyanya kuenderana nezvatakataura takananga.Uye sechiyeuchidzo, icho chinangwa chakaiswa pahwaro hwekuitwa kuzere kweYepakati-Term Plan yedu kubuda 2021 uye kusati kwaitika kweIFRS 16 kwakatariswa.Saka pane senge-se-senge, kusasanganisa IFRS 16, ROCE yedu ingadai yakave pedyo ne17.5% ye2019.
Mari yemahara yegore yaive EUR 547 miriyoni, kuwedzera kwe11% paEUR 494 miriyoni yakaunzwa muna 2018. Uye nepo EBITDA yaive yakakwira zvakanyanya gore negore, saka zvakare, sezvakataurwa naTony, yaive CapEx.Kubvisa uku kwaive kuchinja kwemari yekushanda kubva pakubuda kweEUR 94 miriyoni muna 2018 kusvika pakuwedzera kweEUR 45 miriyoni muna 2019. Uye sezvamunoziva, manejimendi emari yekushanda agara ari uye anoramba ari chinhu chakakosha kwatiri, uye kushanda mari sechikamu chekutengesa pa7.2% muna Zvita '19 iri mukati meyakataura 7% kusvika 8% renji uye pazasi pe7.5% nhamba muna Zvita 2018.
Chikwereti chakazara-ku-EBITDA pa2.1x chakakwira zvishoma kubva pa2x yatakashuma muna Zvita '18, asi yakaderera pane 2.2x pahafu yegore.Uye kufambisa kwekuwedzera kunofanira kuonekwa zvakare mumamiriro ekutora chikwereti chakabatana neIFRS 16 uye, zvechokwadi, kupedzwa kwezvimwe zvakatorwa mugore.Saka zvakare, tisingasanganisire IFRS 16 payakafanana-ye-senge, kuwedzera kuchave 2x pakupera kwaZvita '19, uye ingave ine kana isina IFRS 16, zvakanyanya mushe mukati medudza renji.
Uye pakupedzisira uye kuratidza chivimbo icho Board inacho mune zvese zvazvino uye, zvechokwadi, tarisiro yeramangwana yeboka, yakatenderwa kuwedzera 12% muchikamu chekupedzisira kusvika kuEUR 0.809 per share, uye izvi zvinopa gore-ne-gore kuwedzera. muchikamu chose che11%.
Uye kutendeukira ikozvino kumabasa edu eEurope nekushanda kwavo muna 2019. Uye EBITDA yakawedzera ne5% kusvika EUR 1.322 bhiriyoni.Mutsara weEBITDA waiva 19%, kubva ku18.3% muna 2018. Uye chikonzero chekushanda kwakasimba chaizvo, sezvandakambotsanangura, chikamu chekushanda kweboka rose.Kuchengetwa kwemutengo webhokisi kwave kumberi kwetarisiro yedu yakapihwa mitengo yekuEurope yetestliner uye kraftliner yakadzikira neinenge EUR 145 patani uye EUR 185 patani, zvichiteerana, kubva kumusoro kwaGumiguru '18 kusvika Zvita 2019. Uye sezvakanyorwa mumapepanhau. kuburitswa, tachangobva kuzivisa kune vatengi vedu kuwedzera kweEUR 60 tani pabhodhi remidziyo yakadzokororwa inoshanda nekukurumidza.
Muna 2019, takapedzawo kutora muSerbia neBulgaria, imwe nhanho muhurongwa hwedu hweSouth Eastern Europe.Uye sekubatanidzwa kwakapfuura uye kutora, kubatanidzwa kwezvinhu izvi uye, zvinonyanya kukosha, vanhu vari muboka vari kufambira mberi zvakanaka, uye vanoramba vachiwedzera kupararira kwenzvimbo yeboka uye, zvechokwadi, kuwedzera simba rebhenji kune tarenda.
Uye zvino kutendeukira kuAmerica.Uye muAmerica kwegore, EBITDA yakawedzera ne13% kusvika EUR 360 miriyoni.Iyo EBITDA margin zvakare yakagadziridzwa kubva pa15.7% muna 2018 kusvika 17.5% muna 2019, uye ichityairwa zvakare nevatyairi vanoonekwa sechikamu chekuita kweboka rose.Kwegore rose, 84% yemari yedunhu yakaunzwa neColombia, Mexico neUS, nemitambo yakasimba yegore negore munyika dzese nhatu zvichifambiswa nekuwedzera mavhoriyamu, kudzikisa mitengo yefiber yakadzoserwa uye kuenderera mberi muchirongwa chedu chekudyara.
MuColombia, mavhoriyamu aive kumusoro kwe9% kwegore, zvakanyanya kutungamirwa nekukura-kwepamusoro muchikamu cheFMCG.Uye muna Chikumi, isu takazivisawo yakabudirira tendero yekupihwa yekuwana migove mishoma muCarton de Colombia.Iko kutariswa kwakabhadharwa ipapo kwaisvika EUR 81 miriyoni, uye inonyatso kurerutsa chimiro chekambani muColombia kwatiri.
MuMexico, takaona kuenderera mberi kwekuvandudza pane ese EBITDA uye EBITDA margin hwaro pamwe nekuenderera mberi kwekukura.Uye muMexico, kuenderera mberi -- kutarisisa kuri kuwedzera kwemhinduro dzekurongedza, pamwe nekugona kwedu kupa yakasarudzika yePan-American yekutengesa inopa yakaramba ichimhanyisa kudiwa kwebhizinesi redu reMexico.Uye muUS, miganho yedu yakaramba ichifambira mberi gore-negore nekuda kwekuita kwakasimba kwechigayo chedu uye mabhenefiti emitengo yakaderera yakadzoserwa fiber.
Saka ndiwo mhedzisiro yegore mune mhando yekupfupisa.Uye izvozvi ndinoda kudzokorora pamusoro pekugoverwa kwemari.Iyi siraidhi ichave yakajairika kwauri panguva ino.Ndeyedu nguva dzose.Isu tagara tiri jenareta yeakakosha emahara mari inoyerera.Uye iyo inoenderera mberi yakatarisana nekuyerera kwemahara kwemari inotigonesa kudzikamisa yedu yekugova mari yekutanga tichiona kuti pepa remari rinoramba rakasimba.Uye sezvauri kuona, iredhiyo pepa rine kuchinjika kwakaringana mukati mechinangwa chekusimudzira renji ye1.75x kusvika 2.5x.Uye sezvamunoziva, yedu ROCE tarisiro yegumi nenomwe% kuburikidza nekutenderera, iyo inodzosa mbiri yebhizinesi redu yanga ichivandudza nekufamba kwenguva uye isu tinoramba tine chivimbo mukukwanisa kwedu kuchengetedza icho chinangwa nekufamba kwenguva.
Iyo dividendi chikamu chakakosha chekugoverwa kwedu, uye takaikura kubva kuEUR 0.15 kumashure muna 2011 kusvika kuEUR 1.088 muna 2019. Uye ndinofunga iwo muenzaniso wakajeka wekuti tinofunga sei nezvekugovaniswa kwemari, nekuti basa ratakaita refinancing. panguva ye2019 zvinoreva kuti kuwedzera kwechikamu kuchava chiitiko chisina kwazvakarerekera.Kutaura zvazviri, tiri kupa varidzi vedu mabhenefiti ekuwedzera ikoko.Uye isu tinotenda mari yakagoverwa kumapurojekiti emukati ndiyo kiyi yekuenderera mberi nekukura uye kuita kwebhizinesi.Sezvaunotarisira, isu tinotora kudzoka-kwakavakirwa maitiro kune ese edu makuru ekugovera sarudzo.Zvakangofanana, uye sekuratidzwa kwazvinoitwa, isu tiri vatariri vanobudirira vemari, vakarangwa kana zvasvika pakuwana zvinangwa uye kurangwa kana zvasvika pakudyara kwemukati.
Uye iyi siraidhi ingori chiyeuchidzo chekushanduka kweboka, zvese zviri zviviri kubuda kwemari mahara uye mhedzisiro yesarudzo idzo dzekugoverwa kwemari nekufamba kwenguva pamusoro pekuwedzera uye zvechokwadi mhindu yemari kubva mugore redu rakazara rekushanda post-IPO muna 2007. Iyo zvakare ine evolution of the dividend kubvira 2011. Sekutaura kwaTony, chikamu chakakosha chechiratidzo chedu kuendesa hupfumi hwakachengeteka uye hwepamusoro kune vese vanobatanidzwa.Kugara kuendesa aya mazinga ekudzoka kunoratidza simba rerudzi rwedu rwemahara rwekuyerera kwemari, izvo zvandinotenda, sekuratidzwa kwegirafu, tinogona kuendesa zvisinei nemamiriro emusika.
Kubva 2007, chizvarwa chedu chemari chakatibvumira kushandura zvakanyanya pepa reboka, kuderedza simba uye kushandisa mikana yakawanda yekudzosera zvikwereti zvedu.Tave panguva iyo mwero wedu wepakati wemubereko unopfuura zvishoma 3%, mari yedu yemubereko yadzikira zvakanyanya, uye sezvandambotaura, takapa mamwe emabhenefiti aya kune vanogovana.
Migove inoumba chikamu chakakosha chesarudzo yedu yekugovera mari uye inopa chokwadi chekukosha kune vanogovana.Tagara tichiitsanangura seprovidend dividend policy uye takaunza CAGR inosvika 28% kubva 2011. Iyi itetive process yekudyara mubhizinesi neM&A inovandudza kukosha, kuendesa madzoro epamusoro, inofambisa kusimbaradzwa kwebalance sheet uye uyezve madzoro anoramba achiwedzera kune vagovani vedu.
Uye pakupedzisira, kungotendeukira kune imwe nhungamiro yehunyanzvi ye 2020. Semazuva ese, kana paine yakadzama mibvunzo yekuenzanisira, pamwe zvinobudirira uye nemazvo inobatwa neoff-line.Zvakajeka zvakadaro, sezvakataurwa naTony, ndezvekuti nekupihwa uku kumashure kwekuyerera kwemari, tichava nerimwe gore remahara emahara ekuyerera kwemari.
Ndatenda, Ken.Muna 2016, takaisa chiono chitsva uye chakagovaniswa cheSmurfit Kappa Group.Uye ichi chinhu icho mukambani yatinovavarira zuva rega rega, sezvo ichitsanangura maitiro edu kune bhizinesi uye tsika yedu inotungamirwa nekuita.Iyi haisi nyika yekushuvira.Smurfit Kappa yakaunza zvine hunyanzvi uye zvinogara zvichiunza zvine hunyanzvi, zvinoshanda uye nemari.
Sekutaura kwakaita Ken, pepa redu remari riri mukati mechikamu chedu chatakataura uye kudzoka kwedu kwapfuura chinangwa chakaiswa muChirongwa cheMedium-Term.Ndinotenda kuita kwedu kwazvino uye kuzivikanwa kunoratidza kufambira mberi kwakakura kusvika pachiratidzo ichi, uye ndinovimba zviri pachena kwamuri mose nhasi.
Nezvekuyemurwa pasi rose, ndinogutsikana kuti tiri kufambira mberi zvakanaka takananga kuchinangwa ichi.Mibairo yedu munzvimbo dzese dzeCSR uye yekuvandudza inoita kuti isu tese muSmurfit Kappa Group tinzwe kuti tiri mugwara chairo.Urwu, chokwadi, rwendo rusingaperi netsika dzedu.Nekudaro, ndine chokwadi chekuti kuzvipira kwedu uye kukurudzira kwevanhu kuchawedzera mune zvese zvitsva uye zviitiko zveCSR.
Kuzivikanwa kwepasi rose kunosimudzira chinzvimbo chekambani semubatsiri wesarudzo yevatengi vedu uye, hongu, semushandirwi wesarudzo yevanhu vedu, achitipa kugona kukwezva, kuchengetedza uye kukurudzira tarenda rakanakisa riripo.
Nezve kuendesa zvine simba, ndinovimba urikuona, tiri kuita izvi zvakasimba muSmurfit Kappa Group.Nenzvimbo dzedu dzeruzivo nevanhu, isu tinoramba tichigadzira vatengi vedu vari kukura nekuvandudza nesu.Mashandiro edu anoramba achivandudza mumativi ese, ive iyo chengetedzo, kunaka uye kugona.Kambani yedu yanga ichiunza zvine simba zvakare kuburikidza nekutora, uye isu takakwanisa kuwana mikana uye mabhizinesi matsva anopinda mukambani yedu anopa kukosha kune vatinoshanda navo.
Yedu Yenguva Yenguva Hurongwa yaita zvinonwisa mvura.Kusimudza kunorema muEuropean chigayo system kuchave kumashure kwedu pakupera kwegore ra2020.Pachine mukana wakakosha wekudyara mubhizinesi redu rakatarisana nemusika kutora mukana wekuwedzera mikana nekuda kwemisika yatiri;kana maitiro enguva refu, akadai sekuchengetedza;kana kutora mari nekuda kwekukwira kwemitengo yevashandi.
Nezvekugadzikana, mutengi uye huwandu hwevanhu vari kuda nyika iri nani kune yedu yese ramangwana.Maitiro eSmurfit Kappa musiyano wakakosha mukuendesa isu nevatinoshanda navo munzvimbo ino.Uye zvakare, sekuratidzwa kwaitwa naKen uye sekuratidzwa kwemaitiro edu enguva refu-refu, tinoramba tichiunza kudzoka kwakachengeteka uye zvishoma nezvishoma kwepamusoro kwenguva refu, kubva pa11.3% mu -- patakabuda pachena muna 2007 kusvika 17% 2019 pakudzoka pamari inoshandiswa, inoenderana nechinangwa chedu chepakati-kati.Bhizinesi iri rakashandurwa zvechokwadi uye riri kuita chiono chedu.
Uye kutendeukira kuchidimbu chezvatakataura uye maonero.Ngatimboongororai zvatakataura panzvimbo ino makore maviri apfuura muna Kukadzi '18 pakuparurwa kweMedium-Term Plan kuti Smurfit Kappa mumakore mashanu ingadai iine modhi yakagadziridzwa, ingadai yakawedzera kusiyana kwenzvimbo, ingadai yakawedzera chiyero. simba uye raizove nekuchengetedzeka uye nekudzoka kwepamusoro.
Makore maviri chete gare gare, isu tiri mberi kwazvo pane zvatinotarisira.Kuendeswa kwezvinodiwa zvedu zveEuropean containerboard kuburikidza nekutora Reparenco;kufambira mberi pamapurojekiti akawanda ekraftliner muchigayo chedu cheFrench, chigayo cheAustria, chigayo cheSweden;pamwe nekuenderera mberi nekuenderera mberi muColombia neMexico mumagadzirirwo ezvigayo.Takapinda munzvimbo itsva, Serbia neBulgaria.Tine bereti rinowedzera kusimba, rine kukura kwenguva refu uye kuderera kweavhareji yemubereko yakaitwa zvakanaka naPaul, Brendan nezvikwata.Uye takaunza zvidzoreso zvepamusoro zvishoma nezvishoma zvinoenderana kana kuti pamusoro petariro yedu yepakati-kati.
Takazvipira kuzvinangwa zvakasiyana-siyana uye zvekushanda uye zvemari, uye ndinovimba takaratidza kuti taita, uye muzviitiko zvakawanda takapfuura zvisungo izvi.MuSmurfit Kappa Group, tinotaura sezvatinoita uye tinoita sezvatinotaura.
Nekupedzisa, ndinoda kutaura kuti mumakore mashoma apfuura, mhando yebhizinesi reSmurfit Kappa yakavandudzika zvisingaite.Izvi ndizvo mhedzisiro yekudyara kwedu kuburikidza neMedium-Term Plan, kutora kwatakaita nekuwedzera kune bhizinesi redu, yedu inoshanda yekugovera mari yehurongwa uye pamwe, kupfuura zvese, tsika nevanhu vari mukati mebhizinesi redu vane vatengi uye. kuita pamwoyo chaipo.Uye zvakaenzana, tinokumbira mamaneja edu kuti vatore mari sekunge ndeyavo semuridzi-mushandisi tsika.Uye sezvamunoziva mese, zvatinofarira zvinoenderana nevanogovanisa vedu.Nekuda kweizvi, tiri kuvandudza mune zvese zvatinoita.Pepa redu remari rakachengeteka uye rine simba remahara rekuyerera kwemari.Uye sezvatareva nhasi, kuita kweramangwana kunoenderana nezvawakagadzirwa.Corrugated uye containerboard ibhizinesi rezvazvino neramangwana, zvese zvepasi redu uye kune vatengi vedu vanogona kushandisa chigadzirwa chedu kubatsira bhizinesi ravo.
Kana iri gore razvino, kubva pakuona kwekuda, gore rakatanga zvakanaka.Uye kunyangwe njodzi huru uye dzehupfumi dzichiripo, isu tinotarisira rimwe gore rekuyerera kwakasimba kwemahara uye kufambira mberi kunoenderana nezvinangwa zvedu.
Saka neizvozvo, ndichapedzisa mharidzo ndotanga kutora mibvunzo kubva pasi.Uye mushure meizvozvo, isu tichatora mibvunzo kubva kumusoro.
Lars Kjellberg, Chikwereti Suisse.Mibvunzo mitatu kubva kwandiri.Tony, kana iwe uchikwanisa kutsanangura zvishoma kana iwe uchitaura panguva yekuvhiringidza mumusika kubva pane zvauri kuita, Better Planet Packaging, et cetera, uye zvakare Hurongwa hweMedium-Term, sezvawakataura, kuendesa zvinoratidzira?Unogona here kutipa pfungwa yezvawakanyatso buritsa kubva kune izvo muna 2019, isu tinofanirwa kufunga sei nezvazvo uye nemukana muna 2020?Uye pakupedzisira, iwe wakataura nezvebhokisi rekuchengetedza mutengo, izvo zvakajeka zvakajeka.Unogona here kutipa chero zano rekuti takapedza gore maererano nemutengo webhokisi kwavakaita -- maererano nekwavakatanga?
Pane yekupedzisira poindi, ndinoreva, isu hatiwanzo kuburitsa izvo nekuti, zviri pachena, iyo inyaya yekutengesa kwatiri, Lars.Asi ini ndinofunga kwatakananga makore apfuura kupa vatengi vedu kukosha.Uye saka izvo zvinogona kureva mitengo yakaderera yebhokisi kwavari uye yakakwira margin kwatiri nekuti isu tinokwanisa kugadzira bhokisi zvakasiyana.Uye saka mutengo chiratidzo, asi zviri pachena margin chimwe chiratidzo.Uye chikamu chechinangwa chekuve nerudzi rwekudyara rwatinarwo mukuvandudza ndechekuti isu tinokwanisa kuwana kuhwina-kuhwina nevatengi vedu.Uye izvo zvinogona kuyambuka zvakasiyana-siyana, kungave kuri kwese kuchengetwa kwezvinhu uye nekuvabatsira kubva pakutanga.
Uye chimwe chezvakakura zvakanaka kwatiri, sezvatiri kuona maitiro ese aya achikura, ndeyekuti vatengi vanouya kwatiri pakutanga chaiko.Uye ndipo pavanowana mari yakawandisa nekuti ivo vanogona kunyatso shandisa zvigadzirwa zvishoma ivo pachavo mukurongedza kwavo kwemukati uye pamwe nebhokisi rakasimba, kana kuve nebhokisi rakareruka kuitira kuti isu tiwane chimwe chigadzirwa mukati.Ndinoreva, kune marudzi ese enzira dzakasiyana, kana mutengi achinge atanga kushanda nesu, zvekuti tinogona kudzikisira mutengo wakakosha kwavari.Saka ini ndinofunga isu hatinyatso -- ndinoreva, kune mafomula anoenda pasi kune yakajairwa bhizinesi, asi zvakajeka, tiri kuyedza kugadzira zvakanyanya sezvinobvira kune vatengi.
Nezvemubvunzo wako wekutanga, chii chinokanganisa mhedzisiro yeBetter Planet Packaging.Ini ndinoreva humbowo hwandinogona kutaura chaizvo kune iyo yakawanda sei zviitiko zvatinomhanyisa kune vatengi pane inoenderera uye maitiro ekuchinja zvinhu.Uye ndinoreva, pane nguva yekusarira pazviri.Nekuti semuenzaniso, Ken ari kutaura nezve iyi TopClip.Ndinoreva kuti hatisi 1,000% chokwadi kuti zvichashanda.Asi isu tinogona kukuudza kuti mugadziri mukuru kwazvo wemuchina ari kushanda nesu nevatengi vedu kugadzira michina iyi yekuzadza magaba aya nekumhanya kwaanofanirwa kuzadzwa nawo izvo zvinotora makore akati wandei kuti abude.Asi kana zvikaitika uye kana zvikaitika, uri kutaura mabhiriyoni akawanda epamusoro pachinzvimbo chekudzikisa firimu iro - uye ndine mwanakomana wangu pano neshamwari dzake, uye vari kuita sekuti vanovenga chinhu chepurasitiki icho. inotenderera kumusoro.Saka ndiye mutengi wanhasi ari kufunga izvozvo.
Uye ndiyo mukana mukuru kwatiri.Kana iri system yedu inopedzisira yave iyo inoshanda system, handizive.Asi ine patent pasi rose.Tine kufarira kukuru mazviri.Uye icho chingori chigadzirwa chimwe chete.Ndinoreva kuti tinotaura nezveStyrofoam, tinotaura nezvemamwe mapurasitiki ese.Saka ishanduko yemutambo.Uye ini ndango--mumwe mufananidzo kune izvozvo, pandakanga ndiri paCMD mangwanani ano, mumwe wemibvunzo wanga wakatenderedza chokwadi chekuti tiri munzvimbo chaiyo nemumwe wevaratidzi.Uye izvo zvinoratidza chokwadi chekuti bhizinesi redu, kwete bhizinesi reSmurfit Kappa chete asi bhizinesi remarata ekurongedza, ibhizinesi rinonakidza kwazvo remangwana isu takagara pano.Asi Ken, iwe unoda kutora iyo yepakati-Term?
Lars, maererano neMedium-Term Plan, zvichengetedze zviri nyore, ingangoita EUR 35 miriyoni ye2019 uye ingangoita EUR 50 miriyoni ye2020.
David O'Brien anobva kuGoodbody.Zvichida kutevera mubvunzo waLars.PaSlide 13, iwe unosimudzira budiriro yawakawana mune vamwe veFMCG vatambi.Imhando ipi yekuchinja kwakapfava mumafambiro evatengi ivavo wawaona pamusoro peiyo 5-makore maererano nehurefu hwekondirakiti, kunamatira kwekondirakiti, izvo ndine chokwadi kuti zvinoguma nekuita kurinani kwemahombekombe?Kwave kurinani kuita kurinani kupfuura bhizinesi rese?Uye zvino pakusimbaradzika uye budiriro yawakawana kusvika parizvino, imhando ipi yeprimiyamu iyo vatengi vanoda kubhadhara kune yakagadzikana mhinduro?Uye kana tikafunga nezve premium iyoyo, ndiani ari kumedza mitengo?Ndiye mutengi pakupedzisira here kana kuti mutengi wako?Uye chekupedzisira, pane zvaunotaura, Tony, kutenderedza kudiwa kwakanaka kutanga kwegore, ungagona here kuverenga uko kwaenda kupesana nekuwedzera 1% muQ4, uye ndedzipi nzvimbo dzemusika kana dunhu rinoratidzika kunge riri nani zvakateedzana?
Paurefu hwekondirakiti chidimbu, ndinofunga isu tine zvakawanda zvekunamatira zvakanyanya.Ndinoreva, ndinofunga sekambani, isu hatisi kurasikirwa nevatengi vakawanda kudaro.Isu tinorasikirwa neisinganzwisisike.Asi kazhinji kutaura, isu tinowanzo kusarasikirwa navo.Uye chikamu chemupiro wose watinoita.Ndinoreva, ndinofunga sezvo vatengi vedu vanotarisana nedzvinyiriro imwe cheteyo yatinoita, iko kudzikisa mitengo yavo, zviri pachena kuti vari kuita shanduko musangano ravo uye vanoda hunyanzvi hwakanyanya kubva kune avo vanovapa kupfuura kare kuti vavabatsire mumusika wavo.Uye saka icho chinhu chikuru chakanaka.
Imwe hombe yakanaka ndeyekuti ivo vachitora mari muzvivakwa zvavo uye ivo vanozviita uye vane yakanyanya kumhanya, inoshanda nenzira mbiri.Patinohwina bhizinesi, zvinotora nguva yakareba kuti tiiwane.Asi kana vaisa mitsetse inomhanya-mhanya, kureba kwebhokisi redu remarata rinosiyana kubva kukambani nekambani.Uye iwe unofanirwa kuita miyedzo yemuchina uye unofanirwa kuita zviyedzo zvemusika, uye unoda mumwe munhu kuti aite izvozvo.Uye kazhinji havana izvozvo.Uye nguva yemuchina yakakosha kune avo vatengi.Saka saka, hauite -- zvinoita kuti zviome kuwana nguva yemuchina yekuisa chigadzirwa chako.Saka sekutaura kwangu, inoshanda nenzira mbiri kana uchihwina bhizinesi.
Zvino kana iwe uchitaura nezvevatengi, chimwe chezvinhu zvisinganyatso fungwa nezvazvo mukamuri, kana iwe uchitaura nezvemumwe mutengi, unofunga kuti mutengi mumwechete ane chigadzirwa chimwe, ndiwo maitiro echisikigo.Asi mutengi mumwe chete iyeye anogona kunge aine mitsara makumi mana yakasiyana inoenda kunyika makumi mashanu dzakasiyana dzine madhindirwo akasiyana, uye anoda mumwe munhu anomutarisira izvozvo.Saka kuoma kwekuchinja kwakaoma zvikuru kana iwe une bhizinesi rinokurumidza-kumhanya, rinoshanda, rine simba rakasimba rinodiwa, rine OTIF yakasimba kwazvo, ine PPM yakasimba.Saka ndinofunga tine vatengi vanonamira.Ndinoreva kuti hatizvitore sezvakangoita, hongu.Asi isu tinowanzo kutadza kurasikirwa nevatengi uye isu tinowanzo kuhwina vatengi nekuda kwehunyanzvi hwedu.Uye sezvandakagara pano nhasi, tiri kufara zvikuru netarisiro yekuenda kumberi.Asi zvakare, hatingambofa takazorora zvedu munhau iyoyo.Nezvemubvunzo wekupedzisira, waive...
Ndinofunga nzira yatinotarisa nayo Q4, Gumiguru naNovember yakanga yakasimba zvikuru uye yakanyatsoenderana ne2% yataizogara tichitungamirira.Ini ndinofunga kuti Kisimusi yakawira papi, uri musi weChitatu, zvaingoreva kuti kunze kwemazuva ekushanda, uri kunze kuzoita mamwe mazuva ekudhinda, izvo zvave kureva kuti mazororo akawanda muna Zvita chaizvo, saka kutumira kushoma.Saka ini ndinofunga kana iwe ukabvisa zvese izvo kumashure, iwe unopedzisira wadzoka kunze izvo zvakafara 1.5% kusvika 2% yatingadai takatungamira.
Ini ndinofunga maererano nematunhu uye kwatakaona izvozvo, ndinofunga Iberian Peninsula yakasimba kwazvo, Italy yaive yakasimba, uye Russia neTurkey yaive yakasimba.Ini ndinofunga Germany yaive yakati sandara, izvo chaizvo kufunga nezve kumashure kweGermany mubairo wakanaka kwatiri.Uye France inoramba ichiita zvishoma zvakanaka.Ini ndinofunga -- zvakanaka, iyo UK, sezvaungafungidzira, imhando yekukwevera zvishoma ipapo yakapihwa Brexit mukati, Brexit kunze uye zvese izvo.Asi ndinofunga nepo Germany iri pairi, ini handidi kuona Europe ichisimuka.Chero chii chinosimuka, saka isu tinofamba zvakanaka kune izvo, asi isu tichiri kuita zvirinani kupfuura musika kazhinji.Uye ndinofunga zvakanaka kutaura kuti pavakadzoka munaNdira, iyo misika yakaramba ichiita nemazvo.Saka kana tikafunga nezvematarisiro ari mberi uye tichitaura nezve kudiwa kwegore, uri murudzi rwechinangwa che2 [mu biz], hazviratidzike sezvisizvo panguva ino nenguva.
NdiBarry Dixon anobva kuDavy.Mibvunzo miviri.Iwe wangotaura pa--muchinhu chauinacho -- kuchengetwa kwemutengo wako kwaive nani pane zvaitarisirwa kuEurope muna 2019. Unofunga kuti inyaya yenguva here?Kana kuti pane chimwe chinhu chiri kuitika pano chaunokwanisa kuchengeta uchipihwa zvese zve-value-add uye zvekusimudzira nyaya dzawataura nezvazvo?Uyezve mubvunzo wechipiri, Ken, pamwe maererano neMedium-Term Plan, kungodzokera kune izvo, pamwe tipe pfungwa yekuti - yeEUR 1.6 bhiriyoni, yakawanda sei iyo yakashandiswa panguva ino. nhanho yekuunza iyo EUR 35 miriyoni uye EUR 50 miriyoni muna 2020?Uye wakaratidza mukutaura kuti uchatarisa kuwedzera, ndinofunga, kana kuwedzera chirongwa.Unogona here kutipa rumwe ruvara rwakatenderedza izvozvo, kungave maererano -- zviri maererano nenguva?Kana kuti maererano nemari yauri kuronga kushandisa here?Uyezve imwe chete yekupedzisira yekuwedzera maererano nemifungo yako yakatenderedza OCC mutengo uye OCC mitengo.
Zvakanaka.Ini ndichatora yekutanga pakuchengeta mutengo uye ipapo Ken iwe wotora yasara.Ndinofunga kuti zvakanaka kutaura kuti nekuda kwezvatiri kuunza vatengi vedu, pane -- pave nekuchengetwa kuri nani kusvika zvino.Zviripachena, isu hatisi kuzofanotaura kuti izvo zvichaenderera mberi, asi isu tine kutenda kwakasimba kunofanira kuenderera.Uye zvechokwadi, vanhu vedu vese vari kushanda nesimba kuti vave nechokwadi chekuti inochengetedza zvirinani.Asi ini handisi kuzosimuka pano ndichiti zvachose zvichaitika.Asi isu tiri kushanda nesimba kuti tive nechokwadi chekuti tichachengeta.
Uye zviripachena, iyo yekuwedzera mutengo chiziviso mumusika inobatsira iyo ajenda mupfungwa yekuti kana mitengo iri kudzika, ivo vanodzokera kumusoro zvakare.Uye saka sezvo isu tine 65,000-pamwe nevatengi, munhu wese akasiyana uye tine hurukuro dzakasiyana nemumwe wevatengi ivavo.Uye saka-asi ndingati, kazhinji, hongu.Asi zvakare, tisingazorore pane izvo.
Uye Barry, maererano neMedium-Term Plan, ndinofunga, kutanga, irwo rudzi rwekudzoreredzwa kuEUR 1.6 bhiriyoni nekuti, zviri pachena, yakachinja zvishoma pataipfuura nayo.Saka iyo EUR 1.6 bhiriyoni, sezvaunorangarira, yaive yakafara kupfuura makore mana nerudzi rwepakati peEUR 330 miriyoni, EUR 350 miriyoni serudzi rwechiverengero chekutanga.Muchokwadi, pamwe EUR 330 miriyoni pakutanga, asi zvino takaita zvakawanda zvekutenga kuwedzera base CapEx: Serbia, Bulgaria, et cetera.
Saka -- asi EUR 1.6 bhiriyoni yaive nemapurojekiti maviri akakosha mukati imomo uye aive muchina wemapepa muEurope nemuchina wemapepa muAmerica.Muchina wepepa muEurope hauna kuitwa nekuti takatenga Reparenco.Uye muchina wepepa muAmerica, isu hatizoite sechikamu chechirongwa ichi parizvino.Ini ndinofunga hatifanire kuzviita tichipihwa mamiriro emusika uye kwatinogara maererano nemitengo uye kudiwa.Yedu yemidziyo yemabhokisi muAmerica yaive -- sezvamunoziva, yaive pfupi 300,000 tonnes.Saka muchidimbu, unogona kudzoreredza hurongwa uhu kubva paEUR 1.6 bhiriyoni kuenda, kudana iyo, EUR 1 bhiriyoni pamusoro pehupenyu hwehurongwa hwaizoshandiswa.
Uye kana iwe ukatarisa gore rapfuura EUR 733 miriyoni uye gore rakapfuura, uye zvechokwadi nhungamiro yegore rino yeEUR 615 miriyoni, unogona kuona kuti ingangoita yese iyo Medium-Term Plan mari, kana uchida, pakutanga. chirongwa chichashandiswa kumucheto kumashure kwe'21 -- kana '20 kupinda '21.Uye kunyangwe neEUR 350 miriyoni yebase CapEx, uchine kukura kweCapEx mune iyo EUR 615 miriyoni nhamba, kunyangwe EUR 60 miriyoni inoreva lease.
Uye ini ndinofunga kana isu tikafunga nezve inotevera iteration kana shanduko muMedium-Term Plan, ingori -- kana iwe uchifunga nezve zvatakataura makore maviri apfuura uye nzira iyo nyika yakasundira pane izvo zvatakataura. nezve mambakwedza ano pamusoro pekusimudzira kana kuenderera mberi kwekukura mune mamwe matunhu nenzvimbo, uye zvechokwadi kuti boka rakashanduka sei, isu takanga tisina Reparenco, hapana Serbia, Bulgaria, zvirimwa zvakawanda muFrance, zvakaita kuti tigare pasi tichifunga. nezve iyo modhi inoenda kumberi uye kurudzi rwekudzoreredza, retarge, kugadziridza zvatingade maererano nemadhiraivha ezvimiro atinoona pamberi pedu.Saka haisi kunyatso kumbomira kana kuchinja kana kufamba, ingori nzvimbo yechisikigo yakapihwa huwandu hwebasa ratakaita kusvika nhasi kuti titaure, chaizvo, ndekupi kwatichanangidzira tarisiro yedu kwemakore mana anotevera.
Saka -- uye tichiri kuzoshandisa EUR 615 miriyoni gore rino, saka haisi kunyatso kumbomira mupfungwa iyoyo.Ini ndinofunga ichi chiratidzo chekuti, pane imwe nguva, uchatinzwa tichisimuka zvakare totaura nezve kwatinoona makore mana anotevera eSmurfit Kappa maererano nemaonero uye kushandisa.Uye tave -- tave kutotanga kufunga nezvazvo, saka hapana kana gwara panhamba pane izvo zvingarevei.Asi ini ndinofunga, zvakanyanya, ndezve traffic uye kukwezva vamwe vatyairi vezvimiro vatinoona pamberi pedu.Uye iyo OCC inodhura Barry, ndeupi mubvunzo chaiwo?
Vanogona kuramba vakafanana.Ndinofunga iwe -- zvakanaka.Ndiyo pfungwa yako here?Tarisai, ndinofunga tinoziva - uye Tony ane zano, zvakare, ndinofunga inyaya ye-- takataura nezve floors neOCC kwenguva yakareba, yakareba, uye tinoona zvichiramba zvichidzika.Ndinofunga isu takagara pano nhasi, unogona kukakavara pamwe haigone kudzika zvakanyanya, asi inogona kudzokera kumusoro.Saka ini ndinofunga kana iyo nzira yekufamba isiri asymmetric zvakare, ndinofunga kuti zvimwe zvishoma kuderera.Asi chokwadi, iwe unogona kuzviona ichidzokera kumusoro zvichienderana -- ikozvino suma izvo zvingangoita masvondo maviri mudambudziko irori kana nyaya inounza maererano nekudiwa kazhinji.Asi ini ndinofunga isu - thesis yedu ingave yenguva refu mitengo yeOCC iri nani kumusoro kune ese mapepa emitengo nemitengo yebhokisi.Asi tanga -- sezvandinofunga ndakataura gore rapfuura, ndakakanganisa mumitengo yeOCC mwedzi gumi nembiri yakateedzana.Saka -- asi ndinofunga, hongu, inogona kuramba yakafanana, kumusoro kana pasi, ndinofunga, ndiyo mhinduro yangu yandinofunga, Barry.
Cole Hathorn anobva kuJeffries.Ini ndanga ndichingoda kutevera-up pane yako yakadzokororwa mubhokisi mutengo wekuwedzera.Uye ndanga ndichingofunga nezve mhandara, une nguva yekusagadzikana mumagiyoni ekuFinland.Uye iyi ndiyo mamiriro apo iwe unoda kukwirazve kukwira kuti upfuure usati wagona kusunda nepamusoro pemhandara?Uye chechipiri, kudzoka muna Chivabvu pane chako Innovation Chiitiko, wakaratidza mamwe emuchina wako wekurongedza uchiita mabhokisi ekurongedza sitirobheni uye zvinhu zvakadaro.Iwe unototaura nezve ako chaiwo epazasi mabhokisi emuchina, unogona kungopa zvishoma ruvara rwekuti zvinobatsira sei nevatengi vako uye mamwe emapepa mavhoriyamu auri kuona kuburikidza - uchipfuura nemuchina wako?
Kudivi remhandara, Cole, pane mukaha wakakura kwazvo pakati pemitengo yemhandara nekudzokororwa.Uye zviri pachena, ndicho chinhu chatinoramba takatarisa.Asi iwo mashoma - anoshandiswa kune akasiyana maapplication.Asi pane crossover chidimbu chatinofanira kugara takatarisa.Uye mukaha, nekuda kwekudonha kwebepa rakadzokororwa pamwe nemutengo webepa rakadzokororwa nekuda kwemitengo yaro huru yekudzika ichidzika, zvave kureva kuti gwanza rave rakakura kudarika - rakakura kupfuura rekare.Uye hatina vatyairi vakafanana pahuni.Huni haisi kudzika kusvika padanho rakafanana nepepa rakadzokororwa.Saka sekutaurwa kwazvinoitwa naKen, mutengo wepamusoro wepepa wakanakira Smurfit Kappa.Asi isu tichafanirwa kuenda -- kana bepa rikakwira kumusoro, isu tichafanirwa kupfuura nekurwadziwa apo isu tinofamba nekutenderera zvakare.Asi ndizvo - hatizvione mu-- zvechokwadi munguva pfupi.
Saka maererano nemusika, yakanyanya kusimba kune mhandara.Ndinoreva kuti takamhanya zvakaipisisa muchigayo chedu cheSweden mumwedzi waNdira saka takarasa mamwe matani, uye nekudaro, tiri kutsvanzvadzira kuti titore matani uye hatikwanise kuawana.Saka musika wakaoma zvakanyanya.Uyezve kuwedzera mafuta kune iyo ndiko kuramwa kwemabasa muFinland uko kune kuramwa mabasa uko -- zvino mavhiki maviri mukuramwa kana pedyo nemavhiki maviri, uye zviri pachena kuti zviri kutora humwe humhandara kubva pamusika.Saka imusika wakamanikana uye tiri kuenderera mberi nekuona nzvimbo maererano nekubudirira kwekudzokororwa kwemutengo wekuwedzera, uye ipapo pamwe tichafanira kufunga zvatinoita pamhandara kana kuwedzera kwemutengo kwakabudirira.Kana zviri zvemakina masisitimu, zvakanyanya -- senge zviuru zvisere zvavo mubhizinesi, isu tiri kuita, ndinofunga, vangani pamwedzi tinoita...
Saka tiri -- ndinoreva, ingori chikamu chechipo chedu, Cole, kuti tinoramba tichikwanisa kutaura kune vatengi vedu kana tikazvigadzira isu, tine - kuUK, Germany, Italy isu tine zvedu. kugadzira kwemakina masisitimu, dhizaini yedu;kana kuti tinozvitenga sezvo tiri kushanda nekambani iyi iri kuzotibatsira neindasitiri yezvinwiwa uko isu tisina kugona mukati kupa muchina.Saka ndinoreva kuti isu tinowanzo -- isu tine muchina system division iyo inoita seyakabatanidza ruoko rwedu rwekutengesa, uye chinhu chakanaka kwazvo.Sezvandinotaura, kunyangwe tichizviita mukati kana kunze, inyaya yemuchina uyo -- uye zvigadzirwa zvatiri kupa.Saka ingori imwe tambo kuuta hwedu, ndingaidaidza kudaro.
Ini ndinofunga, Cole, zvakare imhando yekudyisa kudzoka kunzvimbo yaDavid yakatenderedza kunamatira kwevatengi mupfungwa yekuti, zvakanyanya kuoma neako muchina system mutengesi, zvakaoma chaizvo kuchinja shanduko munguva pfupi kana iri pahwaro hwemutengo. kana chimwe chinhu.Zvakare, zviri nyore kugadzira pabhokisi rekupedzisira kana iwe uri mutengesi.Saka ini ndinofunga takaona budiriro huru muchikamu icho chemuchina system bhizinesi redu.Asi imhando ye -- inosanganisa Smurfit Kappa kupfuura iyo - yaimbove mutengesi webepa uye ikozvino ndiyo yekutenga cheni yekudyidzana nzira yese, iyo inonyatso irwo rudzi rwekunamatira vatengi vako vanoda zvirinani (zvisinganzwike) .
Uye zvakafanana, isu tinopa yazvino, iyo yakanyanya dhizaini michina mubhegi redu nebhokisi bhizinesi.Saka chaizvo, kana iwe uri wekumhanya-mhanya kuzadza bhegi newaini yebhokisi, unouya kuSmurfit Kappa uye tinopa muchina.Vanogona kuitenga kana kuti vanogona kuitora.Asi isu tinoishandisa uye ivo vanoshandisa bhegi redu, vanoshandisa matepi edu chero nguva.
Justin Jordan kubva kuExane.Ndinotenda kuti haugone kutipa fungidziro yeOCC, asi unogona kungo-- mubvunzo mumwe chete wenhoroondo.Unogona here kutiudza kuti yaive yakawanda yeibhenefiti maererano neEBITDA bhiriji kune bhizinesi muna 2019?
Chokwadi.Yakanga iri yegore rose '19, bhenefiti yaive EUR 83 miriyoni, uye iyo yakakamurwa EUR 33 miriyoni muhafu yekutanga uye EUR 50 miriyoni muhafu yechipiri.
Zvakanaka.Uye unogona here -- zvakare, mubvunzo wechokwadi.Koshesa izvozvo zvisati zvaitika.Ndeupi rudzi rwehuwandu hweOCC hwauri kutenga muEurope neAmerica sezvo bhizinesi riripo nhasi?
MuAmerica, anenge miriyoni imwe matani.Uye muEurope, mambure 4 miriyoni kusvika 4.5 miriyoni matani.Kana iwe uchirangarira, yaive yakakwira zvishoma, asi isu takatenga - patatenga Reparenco, takawana zvakare faibha nzvimbo.Saka muchidimbu, isu tingango -- mune matani angangoita miriyoni umo isu tinotamisa kubva, kana uchida, kuvhiya ikoko kuenda kuchigayo chedu.Saka isu hatiwane bhenefiti yemiriyoni imwe yematani echero pundutso muOCC, zvakangofanana nemutengo wepepa uye wotiendesa kubva kune rimwe divi kuenda kune rimwe.Asi mambure-mambure, ari pakati pemamiriyoni mana, 4.5 miriyoni matani eOCC anopedzwa muEurope nezvigayo zveEurope.
Uye kana tikafunga nezve bhiriji kubva, ngatitii, iyo EUR 1,650 miriyoni 2019 EBITDA kune chero zvingave mhedzisiro ye2020, uye ndinoonga kuti pane zvinhu zvakati wandei zviri kunze kwekutonga kwako maererano nekupedzisira kwemutengo webhokisi uye pakupedzisira. indasitiri kukura kwehuwandu, asi zvinhu zviri mukati mekutonga kwako, iwe watotiudza nezve EUR 50 miriyoni mupiro kubva kuMedium-Term Plan kuwedzera muna 2020, saka ndiani anoziva, panogona kunge paine zvakanaka kubva kuOCC.Pane here rumwe rudzi rwezvinhu zvakakosha zvinodhura, kumusoro kana pasi, zvatinofanira kuziva?
Ehe.Ini ndinofunga kuenda mune yakajairwa mhando yemhando yemitengo yatinotaura nezvayo, ndinofanira kuti, Yepakati-Term Chirongwa, isu tichaunza EUR 50 miriyoni mu [2019].Semazuva ese, kushanda imhepo uye kunowanzoita 1.5% kusvika 2% pagore, saka idaidze EUR 50 miriyoni kusvika EUR 60 miriyoni.Asi isu tinowanzo kuita akawanda emitengo yekutora zvirongwa zvinonyanya kudzikamisa inflation ipapo.Asi nekupa mibairo yakanaka mumakore apfuura, sezvamunoziva, takawedzera purofiti munzvimbo dzakaita seFrance uye, zvechokwadi, Mexico neEurope.Saka kana iri yakazara offset kana kwete, tichaona nekufamba kwenguva.
Ini ndinofunga tichiri kuona mhepo ine musoro pazvinhu zvakaita semitengo yekugovera zvimwe kusvika kurudzi rweEUR 15 miriyoni uye EUR 20 miriyoni.Ini ndinofunga kana isu tichipfuura bhizinesi redu rakakura, mumhando yemamwe madiki mamakisi epepa, toidana, saga, MG, iwo mhando yemagiredhi emapepa, ndinofunga taizoona pamwe kudhonza '20 pamusoro' 19 yeimwe nzvimbo gumi. kusvika 15. Energy zvichida kuva tailwind sezvo isu kuenda kuburikidza gore, Justin, asi zviri kare kare kuti kudana zvakadaro, saka zvichida mhando sandara kuti zvishoma tailwind sezvo isu mhando kugara pano nhasi.Uye pamusoro pazvo, handikwanise kufunga nezvemadhiraivha makuru andinoda...
Mubvunzo wangu unotevera - zvakanaka.Zvakaitika kare, zviri pachena kuti bhizinesi diki pagore kana maviri apfuura, wakataura nezve zvingangoita 1% yega yega vhoriyamu yebhokisi kuve chimwe chinhu chakaita seEUR miriyoni gumi nenomwe, EUR 18 miriyoni yeEBITDA uye 1% yemitengo yebhokisi ingangoita EUR 45 miriyoni, EUR 48. mamiriyoni eEBITDA.Ndiri kungoziva nezve bhizinesi, riri kuramba richikura.Kuita zvakanaka.Sezvingabvira, ndedzipi nhamba idzodzo nhasi?
Ndinofunga, hongu, kazhinji 1% ine EUR 15 miriyoni muhuwandu, 1% ine EUR 45 miriyoni pamabhokisi.Ndinofunga nekuwedzera kwemitengo yebhokisi pamusoro pegore rapfuura, makore 1.5, ndinofunga kuti unogona kutaura zvine musoro kuti, kuti 1% pamitengo yebhokisi zvichida yakawanda EUR 45 mamiriyoni kusvika EUR 50 mamiriyoni maererano nehuwandu.Uye zvakaenzana pavhoriyamu, yakapihwa, zvakare, chiyero uye saizi yebhizinesi, ungangove uri EUR 15 miriyoni, uye pamwe yaenda kuEUR 15 miriyoni kusvika EUR 17 miriyoni maererano nehuwandu.
Mubvunzo mumwe chete wekupedzisira waTony pane Better Planet.Ehe, ndinotenda isu tiri panguva yekutanga innings yeizvi, uye iwe unoziva mwanakomana wako uye wese mutengi wemireniyumu anogona kunge ari simba rekufambisa reizvi sechero chinhu.Asi iwe unogona here kutipa imwe pfungwa ye - zvakare, nhoroondo yechokwadi mubvunzo, muna 2019, ye1.5% organic vhoriyamu kukura, ndechipi mupiro kune icho chaive kubva kupurasitiki kutsiva nemarara ekurongedza?Uye apo patinofunga nezvazvo kuenda kumberi, ndinotenda ichave nhamba yakakura pagore mumakore mashanu anotevera, asi unogona here kutipa imwe pfungwa yehukuru hwemukana unokwanisa kumberi?
Zvakanyanya -- ndinoreva, ndingati zvingave zvishoma muna 2019. Ndiri kureva, semuenzaniso, takaita danho nevatengi vedoro reBelgian yepakati-yatakanga taronga muna 2018, vakanhonga muchina uye ivo. 'vachangotangisa chigadzirwa chavo mukati, toti, kota yekupedzisira.Saka izvo zvaive chaizvo -- ndinoda kuve kunze kwekuputsika, ndinoda kubuda mumapurasitiki ekare.Ndinoda kungove mumapepa-based packaging.Uye zvakatora mwedzi 18 kuenda kubva pakutanga kusvika pakupedzisira.Uye isu tinozviisa online, saka chinhu cheruzhinji.Chinhu chikuru chekutanga navo.Asi kushandura mitsara yekurongedza uye mitsara yekuzadza inotora nguva yakareba.Saka hazvibviri kuverengera zvese.Humbowo chete hwatinogona kuona ndehwekuti tiri kushanda pamatani nematani emapurojekiti kwese kwese, uye ichave --icho mhepo yakakura kwazvo yakanaka kwatiri isu tichitarisa mumakore ari mberi. .Uye icho chinhu che-multi-clip chandakuudza nezvacho ndechekuti -- kana zvikashanda, saka ihombe ye -- kwete chete huwandu hweTopClips asi huwandu hukuru hwepepa.Uri kutaura mumabhiriyoni akawanda.Saka zviri pachena, tinofanira kuzviona zvichishanda.Asi ndinoreva, mutengo - mutengo wehukama, unodhura kune filler pane zvavari kushandisa izvozvi.Asi pamusoro pe-- ndinoreva, tine sachigaro ari munzvimbo iyoyo, uye angati imari iyo mutengi achafara kubhadhara.Nde--ndinoziva nzungu, [ndinoreva, kwavari], masendi pa--- kwete kana masendi pachikamu chemasendi.Saka hachisi chinhu chinogoneka.
Ingori mibvunzo miviri pano.Panyaya yechirongwa chekudyara chepakati, wakataura nezve EUR 50 miriyoni kubatsirwa muna 2020. Unogona here kutaura zvishoma nezve zviri kuitika imomo?Chii chiri kutyaira izvozvo?
Mikael, ndinofunga kuti hazvibviri kuzvipatsanura kuita mapurojekiti ega ega kana mumapoka, nekuti pakupedzisira, kuti, kana uchirangarira, yaive portfolio yezvakawanda, mainvestimenti akawanda papepa uye kupatsanurwa kwemarara.Asi ini ndinofunga zvine musoro kutaura kuti iyo EUR 50 miriyoni inofambiswa nekugona uye nekuwedzera huwandu mumapepa emapepa.Yakafambiswa nekudyara kutsva uye kukura uye kusiyanisa, hunyanzvi mubhokisi system uye, zvechokwadi, nemamwe mapurojekiti ekutora mutengo.Saka mumasaiti mazana matatu nemakumi manomwe, iyo EUR 50 miriyoni yakaunzwa nevamwe kana vese munzira diki.Zvakaoma kwazvo kuiputsa kuita mabhakiti makuru kupfuura izvozvo.
Uye zvino ingori mubvunzo wekupedzisira paLatin America, zviri pachena, nharaunda yekutengesa ikoko izvozvi maererano nezvinodiwa uye mitengo uye kukwira kwemitengo.
Ehe, Mikael, ndinofunga ndizvo - iwe unofanirwa kutarisa nyika dzese nenzira dzakasiyana nekuti dzakasiyana.Ndinoreva kuti tiri kuona, sekutaura kwatakaita mukuburitswa kwenhau, kukura kwakasimba muColombia mukati megore rapfuura, uye zvakaenderera mberi mumwedzi waNdira.Mexico haina kukura zvakanyanya sezvataitarisira uye zvakaenderera mberi munaNdira.Haisati iri hupfumi huri kusimukira.Bhizinesi rekuNorth America, iro diki kwatiri, riri kuita zvakanaka.Zvinotenderwa.
Uyezve chimwe chinhu chinonakidza ndechekuti kwatakaomerwa muBrazil neArgentina neChile kubva pamaonero ekuda mukati memwedzi 9 yekutanga yegore rapfuura, izvo zvakadzokera mumwedzi -- muchikamu chekupedzisira uye zvakaenderera mberi. Ndira, kwatakaona kudiwa kwakakwira-kupfuura-kutarisirwa kubva munyika nhatu idzodzo.Uye ndinofunga kuti nharaunda yemitengo yakanaka chaizvo kwese kwese.Ndinoreva kuti hapana -- tine mamwe madhiri ekuisa mune dzimwe nyika uye isu tine mamwe emitengo yekupinza mune dzimwe nyika.Saka ndinofunga kutenderera, ndinofunga kuri kuita zvakanaka.Uye zvadaro, takatanga gore zvakanaka mune idzo -- mumatunhu ese emuAmerica.
Zvakanaka.Ndinofunga tapedza mibvunzo uye tiri kupedza nenguva.Kune vese vari pamutsetse, ndinoti maita basa.Uye zvechokwadi, kunemi mose muri mukamuri, ndinotenda zvikuru kuuya kwenyu.Uye ndakamiririra Ken naPaul neni uye nechikwata chese muSmurfit Kappa Group, tinokutendai nerutsigiro rwenyu muna 2019 uye tinotarisira 2020 tiine tarisiro.Ndatenda.
Nguva yekutumira: Kukadzi-12-2020