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Monday sees EBITDA jump as sale volumes rise

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Mondi had a successful third quarter judging by the 55% jump in EBITDA continuing operation as volumes and sales price rose.

The paper and packaging maker enjoyed EBITDA of €450m in Q3 2022 compared to €290m Q3 2021 as they more than compensated for rising input cost.

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The Corrugated Packaging unit enjoyed higher selling prices but saw volumes dip while Flexible Packaging saw both resilient demand and rising prices.

In the paper business, Uncoated Fine Paper was the stand out performer with higher prices and volumes.

Input cost

Mondi had to navigate rising fuel and wood costs in the quarter but were able to mitigate rising energy cost as most of their European plants produce the required power internally through biomass power generations.

Mondi are continuing with their €1 billion expansion plans, noting a €400 million Czech Republic paper mill set to come online in 2025.

Russia asset are being classified as held for sale as they pursue the sale of Mondi Syktyvkar for around €1.5bn.

“We continue to partner with our customers, helping to lead the way towards a circular economy with our unique portfolio of innovative and sustainable packaging and paper solutions. We also remain focused on operational efficiency and cost control,” said Andrew King, Chief Executive Officer.

“Our ambitious expansionary capital investment programme is progressing well, as we continue to invest in our cost advantaged asset base to capture opportunities in our structurally growing packaging markets, enhance our competitiveness and deliver sustainably into the future.”

https://ukinvestormagazine.co.uk/monday-sees-ebitda-jump-as-sale-volumes-rise/

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