Mondi Plc full year results for the year ended 31 December 2021

Highlights
• Strong financial performance
◦ Underlying EBITDA of €1,503 million, up €150 million year-on-year (11%), with second half up 29%
◦ Profit before tax of €983 million, up 28%
◦ Basic underlying earnings per share of 154.0 euro cents, up 19%
◦ ROCE up at 16.9%
◦ Continued good cash generation and strong balance sheet of 1.2x net debt to underlying EBITDA
◦ Recommended full year dividend of 65.0 euro cents per share, up 8%
• Good progress on all elements of our sustainability roadmap, Mondi Action Plan 2030 (MAP2030)
• Successful execution and delivery of key investments
• Strong pipeline of capital investment projects to further capture growth in our packaging markets, building on our leading market positions and long track record of disciplined capital allocation, including €1 billion of expansionary projects approved or under advanced evaluation
• Accelerated climate plans – committed to transition to Net-Zero by 2050, in line with a 1.5°C scenario
• Agreed sale of Personal Care Components business in February 2022 to deliver greater focus
• Well-positioned for the future, with unique portfolio of leading sustainable packaging solutions, cost-advantaged asset base and strong financial position

Andrew King, Mondi Group Chief Executive Officer, said: “Mondi delivered strongly in 2021 and we see good opportunity to accelerate growth in sustainable packaging. Underlying EBITDA of €1,503 million was up 11% and ROCE up at 16.9%. We grew our packaging businesses and saw a recovery in uncoated fine paper markets. Our vertical integration, the agility of our operations and collaboration with our customers ensured we met surging demand at a time when supply chains were under pressure around the world. We implemented price increases across all our businesses and, against a backdrop of rising commodity input costs, we exhibited good cost control. Our focus on safety and protecting the wellbeing of our people remains our priority.

All this cannot be achieved without the dedication, stamina and ongoing commitment of our people. My sincere thanks go to all of my colleagues.

I am particularly proud of how we continue to lead the way in sustainability. We have accelerated our climate plans by committing to transition to Net-Zero by 2050 in line with a 1.5°C scenario, and made strong progress on all elements of MAP2030, our sustainability roadmap for the next 10 years, which we launched in early 2021.
more at: https://www.mondigroup.com/media/15098/mondi-group-full-year-results-announcement-2021.pdf

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