MM Group FY23 earnings below previous year’s record level

MM Group has released its Full Year 2023 results.

At €4,164.4m, the Group’s consolidated sales were 11.1 % (€517.7m) below the previous year’s figure (2022: €4,682.1m). A volume and price-related decline in the division MM Board & Paper was offset by an acquisition-related increase in the division MM Packaging.

Peter Oswald, CEO, comments, “After the record result of the previous year, the MM Group faced a significantly lower demand in the paper and cartonboard industry as well as increasing price pressure in 2023. In addition to de-stocking in the supply chain, inflation-related changes in consumer behaviour which led to lower consumption of everyday goods and the overall economic slowdown in our European main markets were the main causes.”

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