Mondi Reports Full Year Results 2023

Highlights

  • A resilient performance with strong cash flow
  • Underlying EBITDA of €1,201 million (2022: €1,848 million), with margin of 16.4% (2022: 20.8%)
  • Strong cash generation with cash generated from operations increasing to €1,312 million (2022: €1,292 million)
  • Group revenue of €7,330 million (2022: €8,902 million)
  • Basic underlying earnings per share of 107.8 euro cents (2022: 195.6 euro cents)
  • Return on capital employed (ROCE) of 12.8% (2022: 23.7%)
  • Robust balance sheet with net debt to underlying EBITDA at 0.3 times; pro-forma at 1.0 times1 (2022: 0.5 times)
  • Good progress towards delivering €1.2 billion of organic growth investments on time and on budget
  • Advancing our sustainability performance through the Mondi Action Plan 2030 (MAP2030)
  • Completed sale of Russian assets, concluding the Group’s exit from Russia

Andrew King, Mondi Group Chief Executive Officer, said: “Mondi delivered a resilient performance in 2023 as a result of our compelling customer service and delivery, supported
by our scale, quality asset base, integrated model and breadth of products, customers and end-markets.

“While underlying EBITDA of €1,201 million was lower than the very strong performance in the prior year, our cash generation remained ahead of last year at €1,312 million.

“This strong cash generation gives us the strategic flexibility to continue investing in our business through-cycle, supported by our confidence in the long-term structural growth of the markets we operate in and our leading positions within them. We continue to make good progress in delivering our organic growth projects, which remain on track and on budget. We expect these projects to deliver a meaningful EBITDA contribution from 2025.
more at: https://www.mondigroup.com/news-and-insight/2024/full-year-results-2023/

Related Posts

Sonoco Releases Cost of Damage Calculator

The Protective Solutions division of Sonoco, North America’s leading provider of protective packaging, components and material handling solutions, has released its Cost of Damage Calculator, a robust online tool designed to calculate the real cost of damage to businesses when shipping their products. With packaging an essential part of the supply chain, determining how best to ease risk for product damage throughout the entire process is paramount. The calculator successfully breaks down the customer’s e-commerce and retail damage to show the percentage of damage, number of units, total cost and the percentage of profits this affects. Click Read More below for additional detail.

Fazer’s chocolate Christmas calendar reduces plastic use

Fazer is launching a chocolate Christmas calendar made from lightweight and recyclable dispersion coated paperboard from Metsä Board, part of Metsä Group. The choice of material will reduce plastic use by 1,200 kg per year compared to the PE coated board used previously and will also improve recycling of the calendar. The wood fibre used in Fazer's Christmas calendar can be fully recycled. The lightweight paperboard used in the calendar supports the circular economy and reduces waste. Thanks to the lightweight and resource-efficient design, the carbon footprint of the calendar carton is also one quarter lower than the previous one. "Climate change mitigation and the circular economy are important themes for Fazer." says Piia Soininen-Tengvall, Packaging Development Director at Fazer. "Chocolate calendars need a layer to protect the chocolate, which is usually plastic. This year we are replacing the PE coated material with recyclable Metsä Board paperboard."

WestRock’s First Virtual Power Purchase Agreement Project Reaches Commercialization

WestRock is making progress toward its science-based greenhouse gas targets by supporting the first of two Texas-based solar projects. WestRock set the stage by entering into virtual power purchase agreements (VPPAs) with ENGIE North America, a subsidiary of ENGIE S.A. and global leader in the net zero energy transition. Bernard Creek Solar, LLC, the first of two solar projects that are part of the VPPAs between WestRock and ENGIE, is now live and operating in Wharton County southwest of Houston. Under the VPPA, WestRock contracted 207 MW from the project. The 230 MW Bernard Creek solar project is on track to produce approximately 500,000 MWh annually, generating over $45 million in revenue for the county and creating more than 250 jobs during construction. The WestRock VPPA for the Bernard Creek project, combined with a similar project located in Bell County, will add a total of 282 megawatts (MW) of renewable energy to the Texas energy grid. "We are pleased to play a role in the production of clean energy from large-scale solar projects and to join forces with ENGIE and Schneider Electric to reduce greenhouse gas emissions by adding more renewable energy to the grid,” said David B. Sewell, president and chief executive officer at WestRock.
Back To Top
×Close search
Search