MM Group Announces Results for 2021
The consolidated sales of the Group reached EUR 3,069.7 million and were thus 21.4% or EUR 541.3 million above the previous year’s figure (2020: EUR 2,528.4 million). This increase resulted primarily from the acquisition of the Board & Paper division. At EUR 269.6 million, the operating result was 16.5% or EUR 38.2 million higher than in the previous year (2020: EUR 231.4 million). Around 55% of this growth is attributable to MM Board & Paper and around 45% to MM Packaging. At EUR 244.5 million, earnings before taxes were 10.1% higher than in the previous year (2020: EUR 222.1 million). Income taxes amounted to EUR 53.8 million (2020: EUR 59.8 million), resulting in an effective Group tax rate of 22.0% (2020: 27.0%). The net profit for the year thus increased by 17.5% or EUR 28.5 million to EUR 190.7 million (2020: EUR 162.2 million).