Joe Lynam

Breakfast Business with Enterprise Ireland on Newstalk.

The biggest cardboard box maker in the world, Smurfit Westrock, has trimmed its expectations for annual profits and the markets didn't like it.

In its third quarter financial statements, the US listed but Irish headquartered giant says it expects to earn around $5 billion in profits this year, down from 5.1.

The company said that demand for confectionery, and ergo more cardboard boxes, hasn't come back as much as it had thought.

It's been just over a year since Smurfit Kappa formerly merged with Westrock and the business is still betting in changes.

And Ken Bowles is the Chief Financial Officer with Smurfit Westrock.

Good morning, Ken.

Morning, Joe.

Tell us why you had to issue this profit warning.

Out of curiosity, is the fall off in confectionery and snacks related to the rise in weight loss drugs such as Wegovi or Manjaro?

Yeah, the shares were off 12% at one point last night, and the markets really didn't like it, despite it being, as you say, just a trimming back of expectations.

Yeah, and you guys make boxes for physical products.

Have you noticed any fall off in physically shipped goods as a result of this tariff war?

Can I ask you a slightly unrelated question?

Smurfit delisted from Dublin as part of this giant merger, whatever, 15, 16 months ago.

What do European stock markets need to do to deepen the capital markets here, to keep them listed on the continent?

I say that because the German Chancellor, Friedrich Merz, suggested a single European stock exchange might do that.

Would that appeal to a large company like Smurfit Westrock?

That's Ken Bowles, the Chief Financial Officer with Smurfit Westrock.

Breakfast Business with Enterprise Ireland on Newstalk.