Mondi has released its results for the six months ended 30 June 2022.
Sales reached €4,505m, up from €3,283 in the same period last year. Underlying EBITDA from continuing operations (excluding Russian operations) was €942m, up 66% year-on-year. Total EBITDA including discontinued Russian operations (prior to special items) was €1,170m, up 65% year-on-year.
In its report, the company said that around €1bn of expansionary projects are underway, approved or under advanced evaluation – capturing growth in the various packaging markets, building on its market positions and adding to a strong track record of disciplined capital allocation.
In the report, the company outlined some key points, including:
- Completed sale of the Personal Care Components business for an enterprise value of €615m;
- Process to dispose Russian operations is ongoing – now reported as discontinued operations held for sale;
- Continued progress on sustainability roadmap, Mondi Action Plan 2030 (MAP2030).
Andrew King, Group Chief Executive Officer, said, “Performance was strong across the Group in the first half of 2022. Our vertical integration, the agility of our organisation and strong collaboration with our customers ensured we delivered at a time when supply chains continued to be disrupted around the world. We achieved strong price realisation while maintaining tight cost control against a backdrop of strong inflationary pressures. My sincere thanks goes to the teams across Mondi for their dedication and ongoing commitment, delivering so strongly in these challenging times.”