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Mayr-Melnhof Karton AG
ISIN: AT0000938204
WKN: 890447
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Mayr-Melnhof Karton AG · ISIN: AT0000938204 · EQS - adhoc news (43 News)
Country: Austria · Primary market: Austria · EQS NID: 1661323
20 June 2023 07:01PM

Mayr-Melnhof Karton AG: MM Group with an expected decline in 1st half-year 2023 earnings


EQS-Ad-hoc: Mayr-Melnhof Karton AG / Key word(s): Forecast
Mayr-Melnhof Karton AG: MM Group with an expected decline in 1st half-year 2023 earnings

20-Jun-2023 / 19:01 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


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

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+49 (0) 89 444 430-000

 

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