Market: Packaging Paper & Board
Posted November 16, 2017
The Mayr-Melnhof Group’s consolidated sales for the first three quarters of 2017 totaled Euro 1,749.1 million and were thus 2.1%, or Euro 35.3 million above the previous year’s value (1-3Q 2016: Euro 1,713.8 million). Both divisions contributed to the slight increase, as the company said in the press release received by Lesprom Network.
With Euro 158.9 million, operating profit reached the previous year’s level (1-3Q 2016: Euro 160.2 million). The Group’s operating margin thus remained stable at 9.1% (1-3Q 2016: 9.3%). Financial income of Euro 1.6 million (1-3Q 2016: Euro 2.3 million) contrasted with financial expenses of Euro -4.5 million (1-3Q 2016: Euro -4.7 million).
Accordingly, profit before tax totaled Euro 151.9 million and was 2.6 % below the comparative figure of the previous year (1-3Q 2016: Euro 155.9 million). Income tax expense amounted to Euro 38.6 million (1-3Q 2016: Euro 40.4 million), resulting in an effective Group tax rate of 25.4% (1-3Q 2016: 25.9%).
At Euro 113.3 million, the profit for the period almost reached the previous year’s figure (1-3Q 2016: Euro 115.5 million).
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.