At Euro 1,033.1 million, the Group's consolidated sales exceeded the level of the previous year by 5.2% (1H 2013: Euro 981.8 million). This growth mainly results from an increase in volumes in both divisions as well as an extended product mix and better average selling prices at MM Karton.
Operating profit could be increased by 14.5 % or Euro 11.2 million to Euro 88.7 million. A clear rise in profit at the cartonboard division set off a slight decline at the packaging division. Thus, the operating margin of the Group went up from 7.9 % to 8.6 %.
Financial income totaled to Euro 0.9 million (first half of 2013: Euro 0.7 million), financial expenses to Euro -2.6 million (1H 2013: Euro -1.8 million).
Profit before tax rose by 12.7 % to Euro 82.7 million.
Income tax expenses amounted to Euro 21.7 million following Euro 18.7 million in the comparative period of the previous year, resulting in an effective Group tax rate of 26.2 %.
As a consequence, the profit for the period increased by 11.5 % to Euro 61 million (1H 2013: Euro 54.7 million).
The Mayr-Melnhof Group is the world-leader in coated recycled cartonboard and Europe’s leading manufacturer of folding cartons.
