Mayr-Melnhof Karton AG — Earnings Release 2001

Nov 20, 2001

News Details

Ad-hoc | 20 November 2001 08:48

Mayr-Melnhof Karton AG english

Results Q1-3 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Results Q1-3 2001 Strong increase in results for the first nine months of 2001 despite decline in Q3 – Share Buy-Back continued – New appointments to the chair of the Supervisory and Management Boards after next Annual Shareholders Meeting. Consolidated results 1-9 2001(2000) US GAAP, in EUR mn: Sales 846.5(802.4) +5.5%; Operating profit 99(84.2)+17.6%; Income before income taxes and minority interests 102.2(81.8)+24.9%; Net income 66.5(52)+27.9%. At EUR 18 million, third quarter net income decreased in comparison with the previous quarter (EUR 24.9 mn). Outlook: The Cartonboard Division’s order backlog was at approximately 50,000 tons in mid-November. As to when an improvement will occur is still not foreseeable. Therefore, cartonboard output will continue to be adjusted to demand during the fourth quarter. The goal of keeping European cartonboard prices unchanged while raw materials costs remain stable will be continuously pursued. The Packaging Division is expected to continue to exhibit a satisfactory development of business until year-end. Due to the sound progress during the first three quarters, best ever Group results can be expected for the year 2001. In view of the worsening economic situation and increased cartonboard capacities in Europe, production downtime will also be necessary during the first-half of 2002. The development during the second half-year of 2001 will therefore represent a leading indicator for the coming financial year. – As authorized at the 7.Shareholders meeting and by the resolution of the Management Board of MMK AG, which was approved by the Supervisory Board, the Company will continue to repurchase own shares under a new program. All legally mandatory details will be released today on http://www.mayr-melnhof.com.- Carl Anton Goess-Saurau, Chairman of the Supervisory Board of MMK AG, announced upon the completion of his 80. year that he will resign from the chair of the Supervisory Board of MMK AG after the next Annual Shareholders Meeting. At the request of the Supervisory Board, Michael Gröller shall at that time leave the Mgmt Board of MMKAG and succeed Mr Goess- Saurau as Chairman of the Supervis. Board. Wilhelm Hörmanseder, currently dep.- chairman of the Mgmt. Board of MMKAG, will succeed Mr Gröller as chairman of the Mgmt Board. All relating resolutions will take place at the next Supervisory Board and Ann. Shareholders meetings. end of ad-hoc-announcement (c)DGAP 20.11.2001 ——————————————————————————– WKN: 093820; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 200848 Nov 01