MONDI
Full-year dividend increased by 5% / 2020 profits dropped due to Covid-19 lockdowns
 The manufacturer has confidence in the growth of the packaging sector (Photo: Mondi) |
Packaging and paper manufacturer Mondi (Vienna; www.mondigroup.com) raised its 2020 dividend by 5% to EUR 0.60/share, signaling its confidence in the growth of the packaging sector after the Covid-19 pandemic headwinds depressed last year’s profits.
Mondi said its order books are strong, which support price increases in most packaging and pulp grades, while demand for uncoated fine paper is also improving. The pandemic resulted in sales dropping 8% to EUR 6.66 bn as well as a contraction of both – the underlying EBITDA and underlying operating profit, respectively, by 18% at EUR 1.35 bn and by nearly one-fifth at EUR 925m.
The flexible packaging division had a strong volume growth and lower input costs, but these were offset by weaker selling prices. Revenue eased 2% at EUR 2.66 bn, while underlying EBITDA shrank 4% to EUR 519m. Revenues at the company’s corrugated packaging and uncoated fine paper divisions fell, respectively, by 7% and 16%.
Mondi said its order books are strong, which support price increases in most packaging and pulp grades, while demand for uncoated fine paper is also improving. The pandemic resulted in sales dropping 8% to EUR 6.66 bn as well as a contraction of both – the underlying EBITDA and underlying operating profit, respectively, by 18% at EUR 1.35 bn and by nearly one-fifth at EUR 925m.
The flexible packaging division had a strong volume growth and lower input costs, but these were offset by weaker selling prices. Revenue eased 2% at EUR 2.66 bn, while underlying EBITDA shrank 4% to EUR 519m. Revenues at the company’s corrugated packaging and uncoated fine paper divisions fell, respectively, by 7% and 16%.
26.04.2021 Plasteurope.com [247462-0]
Published on 26.04.2021