Mondi has announced its results for the six months to 30 June 2024. H1 2024 – key points included;
- Underlying EBITDA of €565m – trading in line with expectations;
- Second quarter underlying EBITDA benefitted from rescheduled maintenance shuts and a higher than expected forestry fair value gain, together totalling approximately €40m;
- Continued progress delivering organic growth investments – on track and on budget;
- Supporting shareholder distributions through ordinary and special dividends.
“Our underlying EBITDA of €565m in the first six months, although lower than the comparable period last year, reflected an encouraging performance, supported by improving market conditions resulting in stronger order books and higher sales volumes. This enabled us to implement a number of price increases across our paper grades. Alongside lower input costs, we delivered a sequential improvement in underlying EBITDA when compared to the second half of 2023. The benefit of the price increases will continue into the second half of the year. The second half is expected to be impacted by higher planned maintenance shuts and a likely forestry fair value loss,” said Andrew King, Mondi Group Chief Executive Officer.
