Despite a restrained start, the Mayr-Melnhof Group was able to conclude the year 2017 slightly above the challenging result level of the previous year. As the second half year was stronger mainly due to prices, it was possible to successfully counter the weaker first six months affected by a significant rise in recovered paper prices. The consolidated sales of the Mayr-Melnhof Group totaled Euro 2,336.8 million and were thus 2.8%, or Euro 64.1 million higher than the value for the previous year (2016: Euro 2,272.7 million).
At Euro 215 million an operating profit slightly above the previous year's figure was achieved (2016: Euro 213.7 million). A clear profit growth at the cartonboard division contrasted with a slight decrease at the packaging division. The Group's operating margin reached 9.2% (2016: 9.4%), and return on capital employed amounted to 15.1% (2016: 15.9%).
In line with the continuing low interest level, financial income amounted to Euro 2 million (2016: Euro 3.1 million) and financial expenses to Euro -6.2 million (2016: Euro -6.1 million).
Profit before tax at Euro 205.5 million was slightly below the previous year’s value (2016: Euro 209.2 million). Income tax expenses totaled Euro 50.5 million (2016: Euro 55.8 million), which resulted in an effective Group tax rate of 24.6 % (2016: 26.7%).
Profit for the year rose slightly to Euro 155 million (2016: Euro 153.4 million). The net profit margin remained almost unchanged at 6.6% (2016: 6.7%).
The Mayr-Melnhof Group is the world-leader in coated recycled cartonboard with a growing position in virgin fiber based board and Europe’s leading manufacturer of folding cartons with a growing presence outside of Europe.
