The Mayr-Melnhof Group’s consolidated sales in the 1H 2018 increased by 1.8% from Euro 1,150.3 million to Euro 1,170.6 million, with both divisions contributing, as the company says in the press release received by Lesprom Network.
At Euro 114.3 million, the operating profit was Euro 12.2 million or 11.9 % above the previous year’s value (1st half of 2017: Euro 102.1 million). A considerable profit increase at the cartonboard division contrasted with a decline at the packaging division. The Group's operating margin reached 9.8 %, after 8.9% in the first six months of 2017.
Financial income amounted to Euro 0.6 million (1st half of 2017: Euro 1.3 million), financial expenses to Euro -3 million (1st half of 2017: Euro -2.9 million).
Profit before tax went up accordingly by 15.3% to Euro 111.8 million (1st half of 2017: Euro 97 million). Income tax expense totaled Euro 28.1 million, following Euro 25.1 million in the first half of the previous year. The effective Group tax rate of 25.1 % (1st half of 2017: 25.9 %) remained largely unchanged.
At Euro 83.7 million, the profit for the period was up 16.4 % compared to the previous year’s figure (1st half of 2017: Euro 71.9 million). This corresponds to 7.2 % (1st half of 2017: 6.3 %) of sales.
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.
