Smurfit Kappa Released Its 2024 Annual Performance Report, Reporting That Its Total Revenue For The Year Reached 11.799 Billion Yuan.

① Researching, designing and manufacturing closed electronic vaping products, heated non-combustion products and special-purpose aerosol product components for several global leading tobacco companies, independent electronic vaping enterprises and other enterprise customers; ② Researching, designing, manufacturing and selling own-brand electronic vaping products and aerosol beauty products for retail customers; ③ Based on the aerosol technology reserves, providing relevant R&D services to customers.
In 2024, the revenue of SMIC International includes business for enterprise customers and own-brand business. Among them, the sales revenue of own-brand business was approximately 2.475 billion yuan, an increase of about 34.0% compared with the previous year, accounting for about 21.0% of the total revenue, an increase from about 16.5% in the previous year; the revenue from business for enterprise customers was approximately 9.324 billion yuan, a decrease of about 0.3% compared with the previous year, accounting for about 79.0% of the total revenue, a decrease from about 83.5% in the previous year.

n terms of sales revenue from its own brands, in 2024, SMOOTH achieved revenue of approximately 2.024 billion yuan in Europe and other markets, representing a year-on-year growth of 37.2%; it realized revenue of approximately 424 million yuan in the US market, representing a year-on-year growth of about 14.

According to an independent market research report issued by industry consultant Sullivan in March 2025, the global market size of electronic vaping devices, calculated based on the factory price, has a compound annual growth rate of approximately 12.9% from 2020 to 2024, and is expected to have a compound annual growth rate of approximately 9.3% from 2024 to 2029. According to this report, in 2024, the SM Group continued to maintain its position as the world's largest manufacturer of electronic vaping devices, with a market share of approximately 13.1%.