REG - Smurfit Westrock PLC - Total Voting Rights

The FTSE 100 was down 0.07% at 10,143.44, while the more domestically-focused FTSE 250 slipped 0.23% to 23,317.53.

As AJ Bell’s Dan Coatsworth put it, “it’s a calmer end to a chaotic week on the markets,” noting that after recent swings “it’s only natural for people to pause and take stock of events.”

The bid for safety remained evident in precious metals, with gold continuing to attract inflows despite easing immediate market stress.

Coatsworth said the metal had “nudged ahead to trade ever closer to $5,000 an ounce as investors were reluctant to let go of their safety blanket, just in case Donald Trump woke up with another controversial idea.”

That caution helped temper equity gains even as broader risk sentiment stabilised.

UK economic data helps underpin sentiment

Sentiment was underpinned by a raft of upbeat UK economic data.

The S&P Global flash UK PMI composite output index rose to 53.9 in January from 51.4 in December, its strongest reading since April 2024 and the ninth consecutive month above the 50 mark that separates expansion from contraction.

Services activity climbed to a 21-month high of 54.3, while manufacturing output also strengthened, with the PMI rising to 51.6.

Chris Williamson at S&P Global said businesses had “kicked up a gear” at the start of the year, pointing to resilient demand and optimism consistent with quarterly GDP growth approaching 0.4%, though he cautioned that job losses persisted as firms grappled with high costs.

PwC economist Jake Finney said the data suggested the economy had begun 2026 on a firmer footing, but warned that persistent cost pressures, particularly in services, could keep the Bank of England on hold in February.

Official figures also showed UK retail sales beat expectations in December, with volumes rising 0.4% against forecasts for a decline.

Patrick Munnelly at TickMill noted that “interpreting signals from this often-volatile series is no straightforward task,” highlighting that while sales volumes rose 2.1% on a three-month annual basis in the fourth quarter, they still fell 0.3% quarter-on-quarter.

“The reality likely lies somewhere in between,” he said, pointing to favourable weather and sporting events supporting food sales earlier in the year, while seasonal shifts such as Black Friday may have distorted more recent data.

The Office for National Statistics said strong demand for precious metals and higher supermarket sales helped offset weakness in non-food stores, with annual sales growth accelerating to 1.3%, though volumes remained below pre-pandemic levels.

ONS statistician Hannah Finselbach highlighted strong online jewellery sales driven by demand for gold and silver, while AJ Bell’s Danni Hewson said the headline increase masked a difficult Christmas for many high-street retailers amid cautious consumer spending.

Consumer confidence, however, remained subdued.

GfK’s long-running index edged up one point to -16 in January, marking a decade in negative territory.

Munnelly observed that while the headline move was modest, “perceptions of personal financial situations improved more significantly than the headline figure suggests,” even as households remained wary about the broader economic outlook.

GfK’s Neil Bellamy said consumers were showing resilience rather than optimism, focusing on what they could control while remaining unconvinced about the wider economy.

Broader global signals were meanwhile mixed.

Asian markets advanced as the dollar continued to weaken, with investors increasingly rotating into non-US assets.

Munnelly said “precious metals also soared to unprecedented levels,” with a weaker dollar helping push gold to an all-time high of over $4,965 an ounce.

In Japan, stocks rose and the yen softened after the Bank of Japan kept its policy rate unchanged at 0.75% while upgrading growth and inflation forecasts, a move that also weighed on bond futures.

Munnelly noted that signs were emerging that “investors are increasingly pulling away from US assets,” with record flows into emerging-market funds adding further pressure to the dollar.

BAE Systems higher, SSP Group reverses gains

On London’s equity markets, defence stocks were in focus, with BAE Systems trading higher as investors continued to favour names that have performed strongly over the past year.

Coatsworth said the FTSE 100 had been supported as investors “loaded up on three names that have served them well over the past year - Rolls-Royce, Endeavour Mining and BAE Systems.”

Shell rallied after a Reuters report said the oil major was considering a sale of its assets in Argentina’s Vaca Muerta shale play.

Watches of Switzerland was higher after it said late on Thursday that it had bought Texas-based Deutsch & Deutsch, a family-owned luxury watch and jewellery retailer that had been operating since the 1920s.

SSP Group reversed earlier gains despite backing full-year guidance and reporting a 5% rise in first-quarter like-for-like sales.

Babcock International edged lower after confirming chief executive David Lockwood will retire at the end of 2026, a move Coatsworth said might allow Lockwood “half a smile” given the shares had risen more than fivefold since he took the role in 2020.

C&C Group tumbled after warning on profits amid weak consumer confidence, with Coatsworth describing it as “a tough time to be running” the drinks group as profit warnings returned, while Rank Group slid after Deutsche Bank downgraded the stock to ‘hold’ and cut its price target sharply.

Reporting by Josh White for Sharecast.com.

Market Movers

FTSE 100 10,143.44 -0.07%

FTSE 250 23,317.53 -0.23%

techMARK 5,933.79 0.76%

FTSE 100 - Risers

Beazley 1,152.00p 3.23%

Glencore 501.00p 2.21%

BAE Systems (BA.) 2,027.00p 2.12%

Fresnillo 4,168.00p 2.06%

Antofagasta 3,584.00p 1.91%

BP (BP.) 443.65p 1.57%

Rio Tinto 6,576.00p 1.39%

Centrica 184.10p 1.35%

Anglo American 3,378.00p 1.08%

Unilever 4,864.00p 1.00%

FTSE 100 - Fallers

Burberry Group 1,195.50p -6.20%

Admiral Group 2,650.00p -5.76%

Aviva (AV.) 619.40p -5.17%

easyJet 483.00p -2.98%

International Consolidated Airlines Group SA (CDI) 418.30p -2.79%

Spirax Group 7,200.00p -2.78%

Flutter Entertainment (DI) 12,990.00p -2.70%

Smurfit Westrock (DI) 3,054.00p -2.65%

Informa 913.80p -2.54%

JD Sports Fashion (JD.) 82.64p -2.34%

FTSE 250 - Risers

Me Group International 139.40p 4.65%

Hochschild Mining 702.00p 3.69%

Watches of Switzerland Group 534.00p 2.99%

Ceres Power Holdings 347.20p 2.72%

NCC Group 138.80p 2.67%

Harbour Energy 211.80p 2.62%

Foresight Environmental Infrastructure Limited 71.90p 2.28%

Endeavour Mining 4,366.00p 2.15%

Oxford Biomedica 871.00p 2.11%

CMC Markets 329.00p 2.02%

FTSE 250 - Fallers

C&C Group (CDI) 114.40p -11.04%

B&M European Value Retail S.A. (DI) 161.60p -7.18%

Wizz Air Holdings 1,318.00p -4.77%

Rank Group 93.80p -4.67%

Hays 46.60p -3.40%

Ocado Group 246.40p -3.22%

Close Brothers Group 518.00p -2.91%

Aston Martin Lagonda Global Holdings 62.00p -2.13%

Frasers Group 681.50p -2.01%

Carnival 2,097.00p -2.01%

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(19:34 GMT) Smurfit Westrock Price Target Cut to $47.00/Share From $63.00 by Barclays

Smurfit Westrock plc

('Smurfit Westrock')

TOTAL VOTING RIGHTS

DUBLIN (November 03, 2025)

In accordance with DTR 5.6.1 of the UK's Financial Conduct Authority's Disclosure Guidance and Transparency Rules, Smurfit Westrock announces that:

As of 31 October 2025, Smurfit Westrock's issued share capital consists of 522,186,327 Ordinary Shares of nominal value $0.001 each.  Smurfit Westrock does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in Smurfit Westrock is 522,186,327.

The above figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Smurfit Westrock under the UK's Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

November 03, 2025

CONTACT:

Gillian Carson-Callan

Group SVP Finance & Company Secretary

+353 (0)1 202 7000

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.  END  TVREAEFDEFLSFFA

Smurfit Westrock Plc SW reported earnings of 58 cents per share in third-quarter 2025, missing the Zacks Consensus Estimate of 68 cents by 14.7%. The company reported earnings of 53 cents in the year-ago quarter.

Smurfit Westrock was created through the merger of two major paper and packaging industry players, Smurfit Kappa and WestRock, on July 5, 2024. The combined company has been reporting unified results since the third quarter of 2024. However, the year-ago quarter results excluded the financial results of legacy WestRock for the first five days of July as the combination closed on July 5, 2024.

Smurfit Westrock PLC Price, Consensus and EPS Surprise

Smurfit Westrock PLC price-consensus-eps-surprise-chart | Smurfit Westrock PLC Quote

Smurfit Westrock’s net sales in the third quarter of 2025 were $8 billion, which beat the Zacks Consensus Estimate of $7.98 billion. The year-ago quarter’s sales were $7.67 billion.

SW Reports Higher Gross Profit & Adjusted EBITDA 

The reported cost of sales was $6.43 billion in the third quarter of 2025, up 1.8% year over year. The gross profit increased 16% year over year to $1.57 billion. The gross margin was 19.6% compared with 17.6% in the year-ago quarter.

Selling, general and administrative expenses were down 4.7% year over year to $960 million. Operating profit was $526 million, marking a significant improvement from $55 million reported in the year-ago quarter.

The adjusted EBITDA was $1.3 billion compared with $1.26 billion in the year-ago quarter. The adjusted EBITDA margin was 16.3% compared with 16.5% in the year-ago quarter.

SW’s Segment Performances in Q3

The company operates under three reportable segments.

Europe, MEA & APAC: This segment includes operations in Europe, the Middle East and Africa, and the Asia Pacific. Sales for the segment were $2.82 billion, up 6.5% year over year. The segment’s adjusted EBITDA was up 2% year over year to $419 million.

North America: This segment includes operations in the United States, Canada and Mexico. Sales for the North America segment were $4.6 billion, a 2% increase from the year-ago quarter. The segment’s adjusted EBITDA rose 4% to $810 million from the year-ago quarter’s $780 million.

LATAM: This segment includes operations in Central America and the Caribbean, Argentina, Brazil, Chile, Colombia, Ecuador and Peru. Sales for this segment were $545 million, up 10% year over year. The segment’s adjusted EBITDA was $116 million, in line with the year-ago quarter.

Smurfit Westrock’s Cash Position & Balance Sheet Updates

SW had cash and cash equivalents of $851 million at the end of the third quarter of 2025 compared with $855 million as of the end of 2024.

Net cash provided by operating activities was $1,133 million compared with $320 million in the year-ago quarter. The company announced a quarterly dividend of 43.08 cents per share. It will be paid out on Dec. 18, 2025, to shareholders of record at the close of business on Nov. 14, 2025.

SW Lowers FY25 Adjusted EBITDA Outlook

Smurfit Westrock expects adjusted EBITDA in 2025 to be $4.9-$5.1 billion, lower than the earlier projection of $5-$5.2 billion. This reflects additional economic downtime in the fourth quarter to optimize its system. 

The company had reported 2024 adjusted EBITDA of $4.7 billion.

Smurfit Westrock Stock’s Price Performance & Zacks Rank

Shares of the company have fallen 26.5% in the past year compared with the industry’s 16.7% decline.