REG-Mondi Plc: Q1 2025 Trading Update

MondiAnnouncement

Thu 07:02

 

Mondi plc

(Incorporated in England and Wales)  

(Registered number: 6209386)

LEI: 213800LOZA69QFDC9N34

LSE share code: MNDI   

JSE share code: MNP

ISIN: GB00BMWC6P49  

 

8 May 2025

 

Q1 2025 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 2025 ("the
first quarter").

Higher sales volumes, good cost control and fewer planned maintenance shuts in
the first quarter of 2025 offset lower average selling prices when compared to
the fourth quarter of 2024 ("Q4 2024").  Underlying EBITDA for the first
quarter was €290 million, including a forestry fair value gain of €2
million (Q4 2024: €261 million including a forestry fair value loss of €27
million).

In Corrugated Packaging and Flexible Packaging, stronger order books drove
higher sales volumes across Mondi's range of paper grades compared to the
fourth quarter of 2024. This was supported by a solid performance in the
downstream converting operations. Following selling price declines towards the
end of 2024, average selling prices in the first quarter of 2025 were lower
than the fourth quarter of 2024. In the last few months, paper price increases
have been implemented to largely recover the declines.

In Uncoated Fine Paper, market conditions remained muted with lower average
selling prices in the quarter when compared to Q4 2024. Profitability was
supported by strong cost control.

The Group has made good progress with the completion and ramp up of its
capacity expansion projects. The new kraft paper machine at Steti (Czech
Republic), which commenced operations in December last year, is showing
excellent results in terms of paper quality and production volumes.
Optimisation of the wider kraft paper mill network is underway.  The newly
converted paper machine in Duino (Italy) successfully started up in April.
Once fully operational it will be capable of producing 420,000 tonnes per
annum of high-quality recycled containerboard, increasing Mondi's integration
with its corrugated box converting plants, facilitating further optimisation
of supply chains and improving security of supply for customers.    

The acquisition of the Western Europe Packaging Assets of Schumacher Packaging
completed on 31 March 2025. Mondi welcomed 2,200 new colleagues and the team
is now focused on the integration phase to drive synergies, ramp up sales and
provide customers with an enhanced range of solutions.  

 

Andrew King, Chief Executive Officer, said:

"In the first quarter of the year we have seen stronger order books driven by
increased demand for our sustainable packaging products. This has supported
recent price increases which we expect to come through from the second
quarter. 

"Towards the end of the first quarter, global trade tensions heightened
macroeconomic uncertainty. While the direct impact of announced tariffs on our
operations is limited, we remain mindful of the potential second order impacts
that could affect trade flows, consumer confidence and supply chains.

"We remain fully focused on driving our culture of continuous improvement and
competitiveness, ramping up our capacity expansion projects and integrating
the newly acquired assets from Schumacher Packaging. These actions will
enhance our packaging and paper platform enabling us to continue to deliver
our high-quality range of sustainable packaging and paper products."

Flexible Packaging Teach-In

On Thursday 15 May 2025 at 15.00 BST / 16:00 CET/SAST Mondi will host a
`teach-in' on its Flexible Packaging business. For further information on the
face-to-face meeting or the live webcast please contact IR@mondigroup.com.

 

-    END    -

Quarterly results

 € million                                          Q1 2024  Q2 2024  Q3 2024  Q4 2024  Q1 2025  
 Underlying EBITDA (including forestry fair value)  214      351      223      261      290      

 

Conference call dial-in details:

A conference call will be held this morning, Thursday 8 May 2025, at 08:00 BST
/ 09:00 CET/SAST. Please click on the link below to register for the event.

https://storm-virtual-uk.zoom.us/webinar/register/WN_NzbQuyFBRrukbLaE9aDZWA

 

Replay details: 

A replay will be available on our website later in the day on 8 May 2025

https://www.mondigroup.com/investors/results-reports-and-presentations/

 

Enquiries

Investors/analysts:

Fiona Lawrence       +44 742 587 8683

Mondi Group: Head of Investor Relations

Media:

Chris Gurney       +44 799 004 3764

Mondi Group: Head of Corporate Communication   

Richard Mountain       +44 790 968 4466

FTI Consulting  

 

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 2024, Mondi had revenues of €7.4 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: Merrill Lynch South Africa Proprietary Limited t/a
BofA Securities.



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