EQS-Adhoc: Mayr-Melnhof Karton AG: MM Group with an expected decline in 1st half-year 2023 earnings
EQS-Ad-hoc: Mayr-Melnhof Karton AG / Key word(s): Forecast
Mayr-Melnhof Karton AG: MM Group with an expected decline in 1st half-year
2023 earnings
20-Jun-2023 / 19:01 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.
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The Mayr-Melnhof Group (MM) expects for the 1^st half of 2023 an operating
profit in the range of EUR 90 to 110 million after EUR 285 million in the
1^st half of 2022.
This decline is mainly due to weak sales volumes in our division MM Board
& Paper, which we had already cautioned about earlier this year. The
historically unusual volume decline in the European market during HY1 was
higher than anticipated due to high customer inventory levels and the
restraining effect of inflation on private consumption. In addition, MM
faced major capex-related downtime at the Frohnleiten and Neuss mills in
HY1 with the latter taking about three months. Together with annual
maintenance downtime at the Kwidzyn pulp mill this caused a substantial
decline in the Board & Paper division’s results and volume compared to
last year’s record levels. We expect continued market-related downtime for
July and August. The planned rebuilt downtime at the Kolicevo mill linked
to the modernization of the board machine will take place as scheduled in
the third quarter. In the Packaging division the order intake is
weakening.
This earnings expectation is based on current forecasts with certain
ongoing uncertainties. As previously announced, 2023 half-year results
will be published on August 10, 2023.
End of Inside Information
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20-Jun-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
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Language: English
Company: Mayr-Melnhof Karton AG
Brahmsplatz 6
1040 Wien
Austria
Phone: 0043 1 501 36 91180
Fax: 0043 1 501 36 91391
E-mail: investor.relations@mm.group
Internet: www.mm.group
ISIN: AT0000938204
WKN: 93820
Indices: ATX
Listed: Regulated Unofficial Market in Berlin, Frankfurt (Basic
Board), Munich, Stuttgart, Tradegate Exchange; Vienna Stock
Exchange (Official Market)
EQS News ID: 1661323
End of Announcement EQS News Service
1661323 20-Jun-2023 CET/CEST
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