Five Year Summary
DS Smith Group Plc, continuing operations
| Continuing operations £m | 4 2020 | 2021 | 2022 | 2023 | 2024 |
| Revenue | 6,043 | 5,976 | 7,241 | 8,221 | 6,822 |
| Operating profit 2 | 660 | 502 | 616 | 861 | 701 |
| Amortisation | (143) | (142) | (138) | (128) | (97) |
| Share of (loss)/profit of equity-accounted investments | 7 | 5 | 7 | 2 | 2 |
| Net financing costs before adjusting items | (87) | (78) | (70) | (74) | (103) |
| Profit before taxation and adjusting items | 437 | 287 | 415 | 676 | 501 |
| Acquisitions and divestments | (4) | (5) | 2 | (15) | 2 |
| Other adjusting items | (65) | (51) | (39) | 0 | 0 |
| Profit before income tax | 368 | 231 | 378 | 661 | 503 |
| Adjusted earnings per share 1 | 33.2p | 24.2p | 30.7p | 43.0p | 33.1p |
| Dividends per share | n/a | 12.2p | 15.0p | 18.0p | 18.0p |
| Return on sales | 10.9% | 8.4% | 8.5% | 10.5% | 10.3% |
| Adjusted return on average capital employed 234 | 10.6% | 8.2% | 10.8% | 14.3% | 10.7% |
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1. Before amortisation and adjusting items. |
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2. Adjusted return on average capital employed is defined as operating profit before amortisation and adjusting items divided by average capital employed. |
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3. Average capital employed is the average monthly capital employed for the last 12 months. Capital employed is made up of property, plant and equipment, right-of-use assets, goodwill and intangible assets, working capital, capital debtors/creditors, provisions, biological assets and assets/liabilities held for sale. Assets and liabilities relating to discontinued operations are excluded. The definition of capital employed is different from the definition of managed capital, which consists of equity as presented in the consolidated statement of financial position, plus net debt. |
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4. The Group adopted IFRS 16 on 1 May 2019 using the modified retrospective approach and practical expedients available. As per the specific transitional arrangements in the standard, comparative information has not been restated. |