EQS-Ad-hoc: Mayr-Melnhof Karton AG / Key word(s): Forecast The Mayr-Melnhof Group (MM) expects for the 1st half of 2023 an operating profit in the range of EUR 90 to 110 million after EUR 285 million in the 1st half of 2022. This decline is mainly due to weak sales volumes in our division MM Board & Paper, which we had already cautioned about earlier this year. The historically unusual volume decline in the European market during HY1 was higher than anticipated due to high customer inventory levels and the restraining effect of inflation on private consumption. In addition, MM faced major capex-related downtime at the Frohnleiten and Neuss mills in HY1 with the latter taking about three months. Together with annual maintenance downtime at the Kwidzyn pulp mill this caused a substantial decline in the Board & Paper division's results and volume compared to last year's record levels. We expect continued market-related downtime for July and August. The planned rebuilt downtime at the Kolicevo mill linked to the modernization of the board machine will take place as scheduled in the third quarter. In the Packaging division the order intake is weakening. This earnings expectation is based on current forecasts with certain ongoing uncertainties. As previously announced, 2023 half-year results will be published on August 10, 2023. End of Inside Information
20-Jun-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com |
Language: | English |
Company: | Mayr-Melnhof Karton AG |
Brahmsplatz 6 | |
1040 Wien | |
Austria | |
Phone: | 0043 1 501 36 91180 |
Fax: | 0043 1 501 36 91391 |
E-mail: | investor.relations@mm.group |
Internet: | www.mm.group |
ISIN: | AT0000938204 |
WKN: | 93820 |
Indices: | ATX |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market) |
EQS News ID: | 1661323 |
End of Announcement | EQS News Service |
|
1661323 20-Jun-2023 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.