Mondi sees lower FY 2009 earnings
Feb 16, 2010. Mondi is currently finalising its results for the year ended 31 December 2009, which will be released on 23 February 2010. It can now be confirmed that Group underlying operating profit for the second half of 2009 is expected to be above that of the first half but below that of the comparable period in 2008.
Feb 16, 2010. /Lesprom Network/. Mondi is currently finalising its results for the year ended 31 December 2009, which will be released on 23 February 2010. It can now be confirmed that Group underlying operating profit for the second half of 2009 is expected to be above that of the first half but below that of the comparable period in 2008, company said in a statement received by Lesprom Network.
Furthermore, results for the year ended 31 December 2009 have been impacted by a net special items charge for the period of circa Euro128 million (2008: Euro 383 million), primarily relating to the early actions taken to restructure the Group in response to prevailing market conditions.
Euro 78 million of this charge was taken in the first half with a further circa Euro 50 million taken in the second half mainly related to a goodwill impairment in Europapier, asset impairment costs in Austria and Germany and restructuring costs associated with the mothballing of the paper machine at the Merebank mill in South Africa.
Accordingly, Mondi advises that it expects full year earnings per share (‘EPS’) to be within the ranges shown below. Basic underlying earnings per share (Euro cents per share) 16 to 20. Basic headline earnings per share (Euro cents per share) 9 to13. Basic loss per share (Euro cents per share) -4 to -8.
Mondi is an international paper and packaging group and in 2008 had revenues of Euro 6.3 billion. Its key operations and interests are in western Europe, emerging Europe, Russia and South Africa.