Packaging firm Mondi reports 30% rise in Q3 underlying profit

11th October 2018

By: Reuters

  

Font size: - +

Packaging and paper group Mondi, reported a 30 percent increase in third-quarter underlying core profit, benefiting from higher average selling prices in some of its businesses.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose to €466-million in the three months ended September, up from €359-million euros in the prior year, Mondi said in a statement on Thursday. Quarter on quarter growth was 4%.

"The Group delivered a strong performance in the third quarter, benefiting from higher average selling prices across Fibre Packaging and Uncoated Fine Paper, a very strong operational performance, good cost containment and contributions from recent acquisitions," it said.

The group, which is listed in London and Johannesburg, said planned mill maintenance closures during the quarter had an estimated impact on underlying EBITDA of around 30-million euros, in line with the impact seen a year earlier.

Based on prevailing market prices, it estimated that the impact of maintenance closures will be around €115-million for 2018.

"As expected, the (fourth) quarter will be impacted by the large project related shut and ramp-up at our Steti mill, restructuring initiatives in Industrial Bags and continued pressure on the cost base across the group," Mondi said.

Edited by Reuters

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION