EQS-News: Mayr-Melnhof Karton AG: MM reports half-year results for 2025

EQS-News: Mayr-Melnhof Karton AG / Key word(s): Half Year Results
   Mayr-Melnhof Karton AG: MM reports half-year results for 2025

   21.08.2025 / 08:00 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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     • Significant profit increase and launch of Group-wide profit
       improvement programme

          • Adjusted operating profit up by 29 % driven by Board & Paper
            division
          • ”Fit-For-Future” programme to deliver more than EUR 150 million
            structural sustainable profit improvements by 2027

     • Markets stay soft and overcapacities remain
     • 2^nd half-year impacted by annual maintenance standstills in Board &
       Paper division

   Group Key indicators - IFRS

   Consolidated, in millions of EUR    1^st    1^st      +/-    2^nd      +/-
                                    HY/2025 HY/2024          HY/2024
   Sales                            2,030.0 2,043.9   -0.7 % 2,035.7   -0.3 %
   Adjusted EBITDA                    230.5   201.7  +14.3 %   216.8   +6.3 %
   Adjusted operating profit          116.7    90.6  +28.8 %    99.4  +17.4 %
   Adjusted operating margin (in %)   5.8 %   4.4 %  +132 bp   4.9 %   +87 bp
   Profit before tax                  194.8    51.2 +280.3 %    63.1 +208.8 %
   Profit for the period              164.3    37.4 +339.9 %    73.1 +124.7 %
   Earnings per share (in EUR)         8.29    1.82 +356.0 %    3.59 +130.7 %
   Cash   flow    from    operating (103.3)   200.6     n.m.   315.7     n.m.
   activities
   Free cash flow                   (205.4)    59.4     n.m.   242.8     n.m.

   Peter Oswald, MM CEO, comments: “The MM Group achieved a significant
   earnings increase in the 1^st half-year of 2025 as compared to the 1^st
   half-year of the previous year. However, the market situation remained
   highly challenging with persistently weak consumer demand and sustained
   underutilisation of capacities in Europe.

   While both Packaging divisions reported stable or slightly lower adjusted
   operating profit, Board & Paper achieved a noticeable earnings improvement
   compared to the previous year, primarily driven by cost savings, even
   though the current profit level remains unsatisfactory.

   Due to the sale of TANN Group and MM’s strategic focus on its core
   business of consumer packaging, a one-off income of around EUR 127 million
   (preliminary) was recognised in the Food & Premium Packaging division in
   the 2^nd quarter. This led to a significant increase in the Group's profit
   for the period.

   Sequentially, adjusted operating profit in the 2^nd quarter was below the
   1^st quarter, mainly due to a lower contribution from the Food & Premium
   Packaging division. In contrast, Pharma & Healthcare Packaging and Board &
   Paper demonstrated an improvement over the previous quarter.

   As already indicated, the 2^nd half-year will be particularly impacted by
   expenses from the annual maintenance standstills at Board & Paper.“

   “In view of the ongoing uncertainty about a return to more favourable
   market conditions and the need for a lasting improvement in earnings
   quality, MM has launched the Group-wide “Fit-For-Future” programme.
   Management is confident to achieve more than EUR 150 million structural
   sustainable profit improvements by 2027 compared to 2024 (excl. TANN)
   excluding market fluctuations.“, underlines Oswald.

   INCOME STATEMENT
   At EUR 2,030.0 million, the Group’s consolidated sales came in close to
   the previous year's figure (1^st half of 2024: EUR 2,043.9 million).

   Adjusted operating profit rose by EUR 26.1 million from EUR 90.6 million
   to EUR 116.7 million. This increase was mainly driven by the Board & Paper
   division. The Group’s adjusted operating margin improved to 5.8 % (1^st
   half of 2024: 4.4 %). One-off effects amounted to EUR 122.8 million in the
   Food & Premium Packaging division from the sale of TANN Group and EUR 5.5
   million in the Pharma & Healthcare Packaging division from the first part
   of the restructuring in South-West Europe.

   Financial income amounted to EUR 7.1 million (1^st half of 2024: EUR 13.3
   million). The decline in financial expenses from EUR -42.7 million to EUR
   -29.3 million resulted in particular from a lower interest level for
   variable-interest financing. “Other financial result - net” changed from
   EUR -10.0 million to EUR -17.0 million, primarily due to currency
   translations.

   Profit before tax reached EUR 194.8 million after EUR 51.2 million in the
   previous year. This increase is mainly attributable to the sale of the
   TANN Group. Income tax expense amounted to EUR 30.5 million (1^st half of
   2024: EUR 13.8 million), resulting in an effective Group tax rate of 15.7
   % (1^st half of 2024: 27.1 %).

   Profit for the period increased accordingly from EUR 37.4 million to EUR
   164.3 million.

   DEVELOPMENT IN THE 2^ND QUARTER
   The MM Group slightly improved its adjusted results in the 2^nd quarter
   compared to the previous year's period.

   The Food & Premium Packaging division recorded continuity at a good level,
   albeit slightly below the previous year's margin, while MM Pharma &
   Healthcare Packaging gained slightly. The Board & Paper division managed
   to continue with a positive adjusted operating profit, mainly through cost
   savings.

   Consolidated sales of EUR 987.4 million were slightly below the previous
   year’s level (Q2 2024: EUR 1,018.9 million) as well as the 1^st quarter of
   2025 (EUR 1,042.6 million).

   The Group’s adjusted operating profit amounted to EUR 55.7 million,
   exceeding the previous year's figure but down from the previous quarter
   (Q1 2025: EUR 61.0 million; Q2 2024: EUR 51.0 million). The adjusted
   operating margin was 5.6 % (Q1 2025: 5.8 %; Q2 2024: 5.0 %). Adjusted
   EBITDA reached EUR 111.2 million (Q1 2025: EUR 119.3 million; Q2 2024: EUR
   107.2 million). Profit for the period amounted to EUR 143.2 million due to
   the sale of TANN Group (Q1 2025: EUR 21.1 million; Q2 2024: EUR 26.5
   million).

   MM Food & Premium Packaging achieved an adjusted operating margin of 9.4 %
   (Q1 2025: 11.0 %; Q2 2024: 10.2 %).

   The adjusted operating margin of MM Pharma & Healthcare Packaging improved
   to 6.4 % (Q1 2025: 5.4 %; Q2 2024: 4.6 %).

   The adjusted operating margin of the MM Board & Paper division increased
   to 1.8 % (Q1 2025: 1.1 %; Q2 2024: 0.4 %), mainly due to cost savings.

   SUSTAINABILITY DEVELOPMENT
   The carbon footprint (Scope 1 and Scope 2 market-based) of the MM Group
   was reduced by 5 % in the 1^st half-year (1^st half of 2025: 480,893
   tCO[2]e; 1^st half of 2024: 505,765 tCO[2]e).

   OUTLOOK
   Against the backdrop of persistently soft demand and overcapacities, we
   expect a continuation of the challenging market environment. Our primary
   objective is therefore to consistently enhance the competitiveness of the
   MM Group. In view of the uncertainty about a return to more favourable
   market conditions and the need for a lasting improvement in earnings
   quality, MM has launched the Group-wide “Fit-For-Future” programme.
   Management is confident to achieve more than EUR 150 million structural
   sustainable profit improvements by 2027 compared to 2024 (excl. TANN)
   excluding market fluctuations.

   As already indicated, the annual maintenance standstills at Board & Paper
   will result in expenses of around EUR 40 million (2024: EUR 26 million).
   These mainly relate to the pulp mills in Poland and Finland and will be
   incurred this year for around two-thirds in the 3^rd quarter and around
   one-third in the 4^th quarter. In addition, the deconsolidation of the
   TANN Group will be reflected in the Food & Premium Packaging division for
   the first time on a full quarterly basis.

   Measures to reduce working capital and increase cash flow will continue.
   In this context, it is anticipated that capital expenditure for 2025 will
   be below EUR 250 million, which is less than originally assumed.

   -----------------------------

   Please find the detailed Press Release and the Half-Year Financial Report
   2025 as well as the CEO video statement and the details for today’s CEO
   Conference Call on our website: www.mm.group.

   Forthcoming results:
   November 4, 2025   Results for the first three quarters of 2025

   For further information, please contact:
   Stephan Sweerts-Sporck, Investor Relations, Mayr-Melnhof Karton AG,
   Brahmsplatz 6, A-1040 Vienna
   Tel.: +43 1 501 36-91180,
   E-Mail: investor.relations@mm.group, Website: www.mm.group

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   21.08.2025 CET/CEST This Corporate News was distributed by EQS Group.
   www.eqs.com

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   Language:    English
   Company:     Mayr-Melnhof Karton AG
                Brahmsplatz 6
                1040 Wien
                Austria
   Phone:       0043 1 501 36 91180
   Fax:         0043 1 501 36 91391
   E-mail:      investor.relations@mm.group
   Internet:    www.mm.group
   ISIN:        AT0000938204
   WKN:         93820
   Indices:     ATX
   Listed:      Regulated Unofficial Market in Berlin, Frankfurt (Basic
                Board), Munich, Stuttgart, Tradegate Exchange; Vienna Stock
                Exchange (Official Market)
   EQS News ID: 2186570


    
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   2186570  21.08.2025 CET/CEST

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