At Euro 180.2 million, operating profit was 8.9%, or Euro 14.8 million above the previous year's value (2013: Euro 165.4 million). A clear profit increase in the cartonboard division was accompanied by solid profit growth in the packaging division. Thus, the operating margin of the Group reached 8.6% (2013: 8.3%). The return on capital employed amounted to 15.5% (2013: 15.4%).
Financial income of Euro 1.5 million (2013: Euro 1.6 million) was offset by financial expenses of Euro -5.2 million (2013: Euro -4 million).
Profit before tax thus increased by 9.3% to Euro 171 million after Euro 156.4 million in the previous year. Income taxes totaled Euro 39.4 million (2013: Euro 33.5 million), resulting in an effective Group tax rate of 23% (2013: 21.4%).
Profit for the year thus rose by 7.1% to Euro 131.6 million (2013: Euro 122.9 million), with the net profit margin increasing slightly from 6.1% to 6.3%.
The Mayr-Melnhof Group is the world-leader in coated recycled cartonboard and Europe’s leading manufacturer of folding cartons. The Group’s operations are entirely concentrated on the core business areas which are managed in two operative segments MM-Karton and MM-Packaging.
