EQS-News: Mayr-Melnhof Karton AG: MM reports results for the first three quarters of 2025

EQS-News: Mayr-Melnhof Karton AG / Key word(s): Quarter Results
   Mayr-Melnhof Karton AG: MM reports results for the first three quarters of
   2025

   04.11.2025 / 07:50 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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     • Successful ramp-up of the Group-wide “Fit-For-Future” (FFF) programme
       towards sustainable earnings improvement
     • Adjusted operating profit up by 20 % (pro forma excl. TANN up by 32 %)
     • Ongoing difficult conditions due to soft consumer demand and market
       overcapacity

   Group Key indicators - IFRS

   Consolidated, in millions of EUR    Q1-3/2025 Q1-3/2024      +/-
   Sales                                 2,979.5   3,068.8   -2.9 %
   Adjusted EBITDA                         320.3     295.7   +8.3 %
   Adjusted operating profit               151.9     126.3  +20.3 %
   Adjusted operating margin (in %)        5.1 %     4.1 %   +99 bp
   Profit before tax                       202.9      70.9 +186.2 %
   Profit for the period                   166.5      52.3 +218.5 %
   Earnings per share (in EUR)              8.41      2.54 +231.2 %
   Cash flow from operating activities    (20.7)     167.6     n.m.
   Free cash flow                        (177.5)    (18.8)     n.m.

   Peter Oswald, MM CEO, comments: “The MM Group recorded a significant
   earnings increase in the first three quarters compared to the previous
   year. However, ongoing soft consumer demand and overcapacity in the
   European industry still mark the challenging market environment.

   In the packaging sector, the Food & Premium Packaging and Pharma &
   Healthcare Packaging divisions maintained a good or slightly improved
   adjusted operating margin. In contrast, the Board & Paper division
   achieved a significant earnings improvement, primarily driven by cost
   savings, even though the profit level remains unsatisfactory.

   As already indicated, the 3^rd quarter in the Food & Premium Packaging
   division was particularly affected by the discontinuation of the earnings
   contribution from the TANN Group, which was sold at the beginning of June,
   and the planned maintenance standstills at Board & Paper. On the other
   hand, Pharma & Healthcare Packaging grew slightly.

   The Group’s profit for the first three quarters rose significantly as a
   result of the one-off gain from the TANN divestment amounting to around
   EUR 127 million (preliminary).“

   “In light of the continued absence of any improvement in market conditions
   and the imperative for a sustainable earnings enhancement, MM is focusing
   on the Group-wide “Fit-For-Future” (FFF) programme aimed at delivering
   structural and lasting improvements in profitability. The programme has
   been successfully ramped up – progress and earning effects will be
   reported alongside the 2025 annual results in mid-March 2026. “,
   underlines Oswald.

   INCOME STATEMENT
   The Group's consolidated sales totalled EUR 2,979.5 million, slightly
   below the comparable figure for the previous year (Q1-3 2024: EUR 3,068.8
   million).

   Adjusted operating profit was up by 20.3 % or EUR 25.6 million, from EUR
   126.3 million to EUR 151.9 million (pro forma excl. TANN up by 32.4 %).
   This increase was mainly attributable to the Board & Paper division. The
   Group's adjusted operating margin rose to 5.1 % (Q1-3 2024: 4.1 %).
   One-off effects of EUR 122.8 million (incl. transaction costs) from the
   sale of the TANN Group related to the Food & Premium Packaging division.
   In the Pharma & Healthcare Packaging division, one-off expenses of EUR
   16.9 million were recorded in connection with the restructuring measures
   in the South-West Europe region.

   Financial income decreased to EUR 11.8 million (Q1-3 2024: EUR 20.7
   million), mainly due to lower total cash. The decline in financial
   expenses from EUR -63.3 million to EUR -41.7 million resulted in
   particular from a lower interest level for variable-interest financing and
   higher repayments. “Other financial result - net” changed from EUR -12.8
   million to EUR -25.0 million, primarily due to currency translations.

   Profit before tax rose to EUR 202.9 million after EUR 70.9 million in the
   previous year, with this increase primarily reflecting the TANN
   divestment. Income tax expense amounted to EUR 36.4 million (Q1-3 2024:
   EUR 18.6 million), resulting in an effective Group tax rate of 17.9 %
   (Q1-3 2024: 26.3 %).

   The profit for the period increased accordingly from EUR 52.3 million to
   EUR 166.5 million.

   DEVELOPMENT IN THE 3^RD QUARTER
   Consolidated sales declined to EUR 949.5 million, primarily driven by the
   sale of the TANN Group (Q3 2024: EUR 1,024.9 million; Q2 2025: EUR 987.4
   million).

   The Food & Premium Packaging division recorded a noticeable decline in
   earnings related to this divestment, while Pharma & Healthcare Packaging
   improved significantly year-on-year. As in the previous year, profits at
   Board & Paper were impacted by the planned annual maintenance standstills,
   which particularly affected the virgin fibre mills in Poland and Finland.

   The Group's adjusted operating profit totalled EUR 35.2 million after EUR
   35.7 million in the previous year (Q2 2025: EUR 55.7 million), the
   adjusted operating margin stood at 3.7 % (Q3 2024: 3.5 %; Q2 2025: 5.6 %).
   Adjusted EBITDA amounted to EUR 89.8 million (Q3 2024: EUR 94.0 million;
   Q2 2025: EUR 111.2 million), profit for the period to EUR 2.2 million (Q3
   2024: EUR 14.9 million; Q2 2025: EUR 143.2 million).

   MM Food & Premium Packaging achieved an adjusted operating margin of 9.6 %
   (Q3 2024: 11.2 %; Q2 2025: 9.4 %).

   The adjusted operating margin of MM Pharma & Healthcare Packaging improved
   to 6.9 % (Q3 2024: 5.0 %; Q2 2025: 6.4 %).

   As in the prior year, MM Board & Paper recorded a negative adjusted
   operating margin of -2.3 % (Q3 2024: -4.1 %; Q2 2025: 1.8 %), mainly
   attributable to maintenance.

   OUTLOOK
   As there are currently no indications of an easing in market conditions
   due to persistently soft demand and ongoing overcapacity, we are focused
   on enhancing MM's competitiveness and implementing measures to achieve a
   sustainable improvement in earnings performance. Central to this is the
   Group-wide “Fit-For-Future” programme, which has been successfully ramped
   up. Progress and the earnings effect will be reported alongside the 2025
   annual results in mid-March 2026.

   The annual maintenance standstills at Board & Paper, with expenses of
   around EUR 40 million (2024: EUR 26 million), will account for around
   one-third in the current 4^th quarter, after approximately two-thirds were
   already recorded in the 3^rd quarter.

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

   Please find the detailed Press Release and the Report for the first three
   quarters of 2025 as well as the CEO Audio-Q&A-Podcast on our website:
   www.mm.group.

   Forthcoming results:
   March 17, 2026   Financial Results for 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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   04.11.2025 CET/CEST This Corporate News was distributed by EQS Group.
   www.eqs.com

   View original content: [1]EQS News

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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: 2222914


    
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