REG-Mondi Plc: Q1 2026 Trading Update

MondiAnnouncement

Today 07:02

Mondi plc

(Incorporated in England and Wales)

(Registered number:           6209386)

LEI:           213800LOZA69QFDC9N34

LSE share code: MNDI

JSE share code: MNP ISIN:           GB00BMWC6P49

 

24 April 2026

 

Q1 2026 Trading Update

 

Mondi plc (“Mondi”), a global leader in sustainable packaging and paper,
today provides an update on trading for the three months to 31 March 2026
(“first quarter” or “Q1 2026”).

 

Market conditions in the first quarter of 2026 remained challenging resulting
in an underlying EBITDA of €212 million, including €8 million of forestry
fair value gain                     (Q4 2025 €214 million, including €1
million of forestry fair value gain).

 

On a sequential basis, our Corrugated Packaging and Flexible Packaging
business units increased sales volumes across our range of paper grades. This
was supported by recent capacity expansions, as well as our exposure to
diversified geographies, end markets and products. There were also no planned
maintenance shuts in the quarter. The increase in volumes was offset by lower
average selling prices and, towards the end of the quarter, higher
energy-related input costs. In the converting operations, performance of our
Corrugated Solutions and Paper Bags businesses was impacted by margin
pressure, while Consumer Flexibles delivered a broadly stable performance,
supported by resilient end-markets.

 

Significantly heightened geopolitical tensions in the Middle East further
increased volatility in an already complex operating environment. We have a
limited direct exposure to the region and all operations continue to run
safely, with the wellbeing of our colleagues remaining our highest priority.
Across the business, we have however experienced increased energy, raw
material and logistics costs. We are actively responding with pricing actions.
While there is a customary lag, we expect the impact of these price increases
to take full effect in the third quarter of this year.

 

Following a recent reduction in wood prices in South Africa, and assuming the
market environment does not change significantly for the remainder of the
year, the full-year forestry fair value gain for 2026 is expected to be nil.

 

We continue to take targeted actions to strengthen our competitive advantage.
Operational excellence programmes, rigorous cost control and margin management
remain central to our approach. In April, we announced the closure of a
further three converting plants comprising a Consumer Flexibles plant in
Hungary and Corrugated Solutions plants in Poland and Germany. Together these
closures will reduce headcount by 450 over the course of this year. This
brings the total number of recently announced plant closures to six, with
customers transferring to alternative plants in our network.

 

Cash flow optimisation remains a priority, supported by disciplined control of
capital expenditure and rigorous working capital management.

 

Andrew King, CEO Mondi Group commented:

 

“Against a backdrop of challenging market conditions, sales volumes
increased, although lower selling prices and latterly, cost pressures linked
to escalating geopolitical tensions, weighed on underlying EBITDA.

 

 

“These pressures persist into the second quarter and we are taking pricing
actions to mitigate their impact. While there is an inherent time lag, we
expect these measures to take full effect in the third quarter.

 

“Despite the uncertain outlook, we continue to focus on what we can control
— driving operational excellence, rigorous cost and margin discipline,
optimising our production footprint and focused cashflow management. These
actions underpin our confidence in our ability to navigate the current
headwinds and continue to deliver our high-quality range of sustainable
packaging and paper products for our customers.”

 

- END –

 

 € million                                                 Q1   Q2   Q3   Q4   
 2026 Underlying EBITDA   (including forestry fair value)  212  -    -    -    
 2026 Forestry fair value gain                             8                   
 2025 Underlying EBITDA  (including forestry fair value)   290  274  223  214  
 2025 Forestry fair value gain                             2    16   20   1    

 

Enquiries

Investors/analysts:

Fiona Lawrence                                                           
                +44 742 587 8683

Mondi Group: Head of Investor Relations

 

Media:

Kerry Cooper                                                             
                         +44 7881 455 806

Mondi Group: Group Communication Director

 

Richard Mountain                                                         
                  +44 790 968 4466

FTI Consulting

 

Results call details

 

A call will be held today at 08:00 (BST), 9:00 (CET/SAST).

Event registration link:                      
                                
https://storm-virtual-uk.zoom.us/webinar/register/WN_G1vQhA90Svq1o7KEyOrRzg   
                               

 

Once registered, you will receive a confirmation email from ‘Mondi Group
Events’ with the webinar link and ID.

 

A replay will be available on our website within a couple hours after the end
of the live results call at:                                            
     https://www.mondigroup.com/investors/results-reports-and-presentations/

 

For any queries, please e-mail                                 
ir@mondigroup.com

 

 

 

Editor’s notes

 

Mondi is a global leader in packaging and paper, contributing to a better
world by producing products that are sustainable by design. We employ 24,000
people in more than 30 countries and operate an integrated business with
expertise spanning the entire value chain, enabling us to offer our customers
a broad range of innovative solutions for consumer and industrial end-use
applications. Sustainability is at the centre of our strategy, with our
ambitious commitments to 2030 focused on circular driven solutions, created by
empowered people, taking action on climate.

 

In 2025, Mondi had revenues of €7.7 billion and underlying EBITDA of €1.0
billion. Mondi is listed on the London Stock Exchange in the ESCC category
(MNDI), where the Group is a FTSE100 constituent. It also has a secondary
listing on the JSE Limited (MNP).

 

mondigroup.com

 

Sponsor in South Africa: J.P. Morgan Equities South Africa (Pty) Ltd



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