Mayr-Melnhof with strong declines in 2023 in the Cartonboard Division

Difficult framework conditions as well as the weak volume and earnings development of the MM Board & Paper division are clearly reflected in the consolidated balance sheet, according to MM.

Against this backdrop, sales fell by 11.1 % year-on-year to € 4.164 (4.682) billion. Adjusted EBITDA fell to € 229.2 (562.4) million compared to 2022, which corresponds to a decrease of 59.2%. Net profit for the past year totalled € 89.1 million, which corresponds to a slump of 74.2% compared to 2022.

Strong declines in cartonboard business: packaging division develops positively overall

An unprecedented deterioration in the market environment with a decline in demand of up to 20 % had a negative impact on the results of MM Board & Paper. Sales in this division fell by 30.2 % compared to the previous year and totalled € 1.919 (2.750) billion for 2023. MM put the operating result at €19.8 million - after €381.0 million in the previous year.

In contrast, the folding carton division MM Packaging developed positively, writes MM. In view of the reduction of high stock levels in the supply chain, falling consumer purchasing power and the trend towards cheaper private labels, the folding carton business in the food sector has recorded a decline since the beginning of the year. The pharmaceutical sector has developed "favourably" due to acquisitions. Sales increased by 12.1% to € 2.431 (2.168) billion due to acquisitions. The operating result increased by 68% to € 217.4 (129.4) million.