Mayr-Melnhof Karton AG — Earnings Release 2001

Aug 28, 2001

News Details

Ad-hoc | 28 August 2001 08:21

Mayr-Melnhof Karton AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– 2001 half-year results : Best ever half-year results – scheduled downtime adjusted cartonboard production to decrease in market demand – satisfactory capacity utilization in the Packaging Division – demand in Q3 and Q4 highly dependent on economic development. Consolidated results – US Gaap, in EUR millions 1-6/2001 1-6/2000 +/- Sales 558.9 527.0 +6.1% Operating profit 70.6 55.5 +27.2% Operating margin 12.6% 10.5% Income before income taxes and minority interests 74.7 52.7 +41.7% Net income 48.5 33.0 +47.0% Earnings per share (in EUR) 4.04 2.75 Cartonboard Division (in EUR millions): Sales 359 (+3.2%), Operating profit 54.6 (+31.3%). Packaging Division (in EUR millions): Sales 249.3 (+10.2%), Operating profit 16.0 (+15.1%). Outlook: Due to recent economic forecasts, a weakening of demand can be expected during the second half-year, particularly in the Western European markets. As the decrease in cartonboard customers’ inventories has come to a halt, cartonboard demand until year-end will largely depend on economic conditions. At approximately 60,000 tons in mid-August, the Cartonboard Division’s order backlog remained at a low level. Therefore, Mayr-Melnhof will continue to adapt cartonboard production to demand by taking downtime in the third quarter similar to which was done in the second quarter. From a current perspective, stable prices can generally be expected on the procurement markets. The goal is to therefore hold Western and Eastern European cartonboard prices steady. The slowing economy is expected to affect demand and utilization within the Packaging Division. Due to a decrease in cartonboard demand and further downtime in the Cartonboard Division, the Group’s operating profit in the second half-year 2001 will fall below the level achieved in the first half year. Altogether, very satisfactory results can currently be expected in 2001. The press release and interim report are available at http://www.mayr-melnhof.com end of ad-hoc-announcement (c)DGAP 28.08.2001 ——————————————————————————– WKN: 093820; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 280821 Aug 01