Mayr Melnhof Karton drops on guidance cut

Mayr-Melnhof Karton AG

21/06/2023 07:50

** Shares of Mayr Melnhof Karton  MMKV.VI  fall 2.3% in
pre-market trade after the cartonboard manufacturer announced
expected decline in profits for the first half of 2023
    ** The company said on Tuesday, its H1 operating profit
would drop to between 90 and 110 million euros from 285 million
euros a year earlier, citing weak development of sales in the MM
Board & Paper division
    ** The difficult market environment for MM continues as we
have already expected with the company’s latest announcements,
says Erste Group in a note
    ** Mayr Melnhof will publish its half-year results on August
10
    ** The stock is at the bottom of the Austrian traded index
 .ATX 

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))