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    Lewis Roxburgh • Goodbody

    Lewis Roxburgh's questions to Smurfit WestRock PLC (SW) leadership

    Lewis Roxburgh's questions to Smurfit WestRock PLC (SW) leadership • Q2 2025

    Question

    Lewis Roxburgh of Goodbody asked about the potential Q3 impact of tariffs on consumer confidence and demand, and whether Smurfit WestRock sees scope for further capacity closures in its own European operations.

    Answer

    EVP & Group CFO Ken Bowles noted that the incremental tariff impact is limited and that consumer demand remains the key factor, with no significant changes baked into forecasts. CEO Tony Smurfit added that Smurfit WestRock's European mills are profitable and integrated, so no short-term closures are planned for their own assets, but he expects more closures from non-integrated competitors if current market conditions persist.

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    Lewis Roxburgh's questions to Smurfit WestRock PLC (SW) leadership • Q2 2024

    Question

    Lewis Roxburgh of Goodbody asked about the potential Q3 impact of tariffs on consumer confidence and demand, and whether Smurfit WestRock sees scope for further capacity rationalization in Europe, similar to its recent actions in the U.S.

    Answer

    EVP & Group CFO Ken Bowles noted that while tariffs may have some impact, the real driver will be overall consumer demand, which remains soft. He doesn't expect major shifts in trade flows. CEO Tony Smurfit added that while the company continuously reviews its portfolio, its European mills are profitable and integrated, making immediate closures unlikely. However, he expects non-integrated competitors to face pressure and potentially shut down capacity.

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