Mondi reports full year results for year ended 31 December 2022

Mondi, a global leader in sustainable packaging and paper, today announces its results for the 12 months to 31 December 2022.

Performance from the Group’s continuing operations exclude its Russian operations.

Highlights
• Strong financial performance from continuing operations
◦ Underlying EBITDA of €1,848 million, up 60% (2021: €1,157 million), with underlying EBITDA margin of 20.8% (2021: 16.6%)
◦ Profit before tax of €1,560 million, up 119% (2021: €712 million)
◦ Basic underlying earnings per share of 195.6 euro cents, up 78% (2021: 110.1 euro cents per share)
◦ Cash generated from operations of €1,292 million, up 29% (2021: €1,001 million); strong balance sheet with leverage (net debt to underlying EBITDA) of 0.5 times
◦ Return on capital employed (ROCE) of 23.7% (2021: 13.9%)
• €1 billion expansionary capital investment pipeline on track to deliver growth across our packaging businesses
• Good progress made on our sustainability roadmap, Mondi Action Plan 2030 (MAP2030)
◦ Science-based Net-Zero targets validated
• Completed sale of the Personal Care Components business
• Agreed sale of Russian assets, with regulatory approval process ongoing
• Recommended full year dividend of 70.0 euro cents per share, up 8% (2021: 65.0 euro cents per share)
• Our unique platform, cash generation and strong balance sheet positions us to meet growing customer demand for sustainable packaging and invest to strengthen our leading market positions, in line with our strategy to deliver sustainable value accretive growth.

Andrew King, Mondi Group Chief Executive Officer, said: “Mondi delivered a strong performance across the business in 2022. Underlying EBITDA from continuing operations of €1,848 million was up 60% as we continue to successfully partner with our customers to deliver innovative and sustainable packaging and paper solutions. Our integrated business model and strong operational performance enabled us to manage inflationary pressures and expand margins through price increases.

My sincere thanks go to all our colleagues for their excellent delivery and continued professionalism, agility and commitment in what has been a year impacted by significant external challenges.

Cash generated from continuing operations of €1,292 million, up 29% on 2021, led to a further strengthened balance sheet, ending the year with leverage of 0.5 times. This gives us the strength and strategic flexibility to continue to invest through the cycle, in turn reflecting our confidence in the long-term growth of the markets in which we operate and our leading positions within them.

We continue to accelerate our growth ambitions, making good progress with our significant expansionary capital investment pipeline. Projects focus on expanding capacity to serve growing markets, productivity improvements, enhancing cost competitiveness and delivering sustainability benefits.
more at: https://www.mondigroup.com/media/16317/mondi-group-full-year-results-announcement-2022.pdf

Related Posts

Amcor PowerPost™ is next-generation technology that delivers a more sustainable bottle and better consumer experience

Known for its role in developing technology that delivers more sustainable bottles, Amcor Rigid Packaging (ARP) is announcing ahead of National Packaging Design Day the creation and launch of PowerPostTM. By actively displacing the vacuum in the container after filling, PowerPost technology delivers a bottle nearly one-third lighter, with 30% energy reduction and 30% carbon savings over most 20 oz (600 ml) bottles available today. It also allows for up to 100% recycled material use and provides a superior consumer experience – no more spills from overflow when consumers first open their beverage. PowerPost is the most advanced lightweighting technology for hot-fill beverages on the market today. PowerPost builds on Amcor’s patented, vacuum-absorbing technology PowerStrap™. The PowerPost base has two key technologies: an invertible, central post that actively displaces vacuum, and PowerStrap, the flexible ring surrounding the post. After filling, the post is inverted to actively displace vacuum inside the container and, as the product cools down, the surrounding ring flexes to passively absorb any remaining vacuum.

Metsä Group starts pre-engineering project for Muoto™ wood fibre packaging products

After promising results from the ongoing demonstration phase, Metsä Group has decided to conduct, in parallel with the demo phase, a pre-engineering project related to a possible first commercial-scale factory. Muoto™ packages are renewable and recyclable bioproducts that can be utilised in, e.g., takeaway, berry, tray, and combo packaging. Metsä Group’s innovation company Metsä Spring has decided to start a pre-engineering project for the first commercial factory producing the new packaging solution, Muoto™. Muoto products are wood-based alternatives to plastic packaging. Pre-engineering is a key planning phase, after which Metsä Group will have the conditions of factory planning in place to consider deciding on the factory investment, and it is expected to be completed in early 2025. Based on the outcome of pre-engineering and the continued work in the demo phase, mainly using a unique demo plant in Äänekoski, Finland, Metsä Group will assess the possibility of starting this new business and investing in a factory to support that business. Metsä Group has already decided that the possible factory would be located at its Rauma site in Finland.

Diversified Labeling Solutions Updates Fleet with Mark Andy Rotoflex Die Cutter

Diversified Labeling Solutions (DLS), a national converter of pressure-sensitive labels, has added a new Mark Andy Rotoflex DLI 500 series semi-rotary die cutter to its nationwide fleet. Installed in DLS’ Itasca, IL headquarters, the new Rotoflex is part of the company’s ongoing focus on updating and modernizing its fleet of label conversion equipment. The Rotoflex DLI is a top-of-the-line die cutting platform. It is designed with efficiency and accuracy in mind, offering high-speed precision, quality control and flexibility. By investing in this state-of-the-art technology, DLS solidifies its position as a leader in the label industry. The upgraded die cutter not only enhances production capabilities but also demonstrates the company's commitment to staying ahead of the curve and adopting the latest advancements in printing technology.
Back To Top
×Close search
Search