Mondi has confirmed an update on trading for the three months to 30 September 2026. With underlying EBITDA of €196m for the third quarter of 2026, compared with €167m in the previous quarter and €223m in Q3 2025, as higher energy and raw material costs continued to affect performance.
The Q3 figure included no forestry fair value gain or loss, compared with a €43m loss in the second quarter. Excluding forestry fair value movements, underlying EBITDA declined sequentially, primarily due to planned maintenance shutdowns.
Within Corrugated Packaging, higher containerboard selling prices helped offset increasing input costs. However, Mondi reported continued pressure on Corrugated Solutions margins, reflecting competitive market conditions and delays in passing higher paper prices through to customers.
Energy-related costs increased more than expected during the quarter, alongside anticipated rises in wood costs in Central and Eastern Europe. Supported by order books, Mondi introduced further price increases for several paper grades, with the financial benefits expected towards the end of 2026 and into 2027.
Mondi continued its programme to optimise its converting plant network, including transferring customer volumes from facilities scheduled to close later this year. At the end of September, the company completed the sale of one solid board converting plant and agreed the sale of a second.
“We delivered a resilient performance in the third quarter against a backdrop of rising input costs, with good order books supporting positive price momentum,” said Andrew King, CEO, Mondi Group. “We continued to make progress on operational excellence, cost optimisation and improving the efficiency of our plant network to enhance competitiveness.”
Looking ahead, Mondi expects higher packaging paper prices to support performance in the fourth quarter, although energy and other input costs remain a concern. The company also expects no forestry fair value gain in Q4 if current energy prices, particularly South African diesel prices, persist.
