Austrian packaging firm Mayr-Melnhof Karton's H1 sales hit by TANN divestment

Mayr-Melnhof Karton AG

20/08/2026 06:56

Overview
Austria packaging producer's H1 sales fell 8.9% yr/yr, mainly due to TANN divestment
Adjusted EBITDA and operating profit declined yr/yr, but improved sequentially over H2 2025
Fit-For-Future programme contributed EUR 105 mln in H1, 2027 benefit target raised to over EUR 330 mln

Outlook
Company expects Q3 operating profit to be impacted by about EUR 35 mln due to maintenance standstills
Mayr-Melnhof Karton expects over EUR 100 mln Fit-For-Future contribution in H2/2026
Company raises 2027 Fit-For-Future P&L benefit target to over EUR 330 mln

Result Drivers
COST SAVINGS PROGRAMME - EUR 105 mln contribution from Fit-For-Future programme helped mitigate lower prices in Board & Paper
SEGMENT PERFORMANCE - Adjusted EBITDA rose 14% in Pharma & Healthcare Packaging, was stable in Food & Premium Packaging, and declined 19% in Board & Paper
LOWER PRICES AND DEMAND - Sales fell mainly due to lower pricing in Board & Paper and reduced volumes in Food & Premium Packaging

Company press release: ID:nEQ7SvpJXa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Sales
 
EUR 1.85 bln
 
H1 EPS
 
EUR 1.60
 
H1 Profit for period
 
EUR 31.20 mln
 
H1 Pretax Profit
 
EUR 45.80 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the paper packaging peer group is "buy"
Wall Street's median 12-month price target for Mayr-Melnhof Karton AG is €95.50, about 18.2% above its August 19 closing price of €80.80
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

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Aug 20 - Sweden's Fasadgruppen Q2 sales fall 1.8%, profit rises

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)