Mayr-Melnhof Karton AG — Earnings Release 2001

Apr 23, 2002

News Details

Ad-hoc | 23 April 2002 08:29

Mayr-Melnhof Karton AG english

Mayr-Melnhof Karton AG: Final year 2001 Group results Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Final year 2001 Group results Annual Group result reaches new peak – Net income increased 16.8 % to EUR 77.9 million – Increase of dividend from EUR 1.65 to EUR 1.80 EUR per share Consolidated results – US GAAP, in EUR millions 2001 2000 +/- Sales 1,122.9 1,078.3 +4.1% Operating profit 120.2 104.2 +15.4% Income before income taxes and minority interests 123.3 99.2 +24.3% Net income 77.9 66.7 +16.8% Earnings per share (in EUR) 6.66 5.56 Cartonboard Division (in EUR millions): Sales 724.1 (2000: 701.3) +3.3%, Operating profit 90.4 (2000: 72.4) +24.9%. Packaging Division (in EUR millions): Sales 494.7 (2000: 477.1) +3.7%, Operating profit 29.8 (2000: 31.8) -6.3%. Outlook 2002: Cartonboard Division production capacities could be almost fully utilized during the first quarter of 2002, resulting from a significant expansion of non-European sales as well as better than expected demand in Europe. As cartonboard prices in Europe remained stable the average sales price, however, declined due to a marked decrease of the price level in the overseas markets compared with the previous year. The Packaging Division registered an on-going stable development of business. Overall, a better than expected income for the first quarter of 2002 was achieved, although below last year’s record level. The increase in the price of waste paper, which was so far expected for the third quarter of 2002, has already affected April contracts due to increased demand. Therefore, a cartonboard price increase cannot be ruled out for the second quarter of 2002. In mid-April, the Cartonboard Division’s order backlog was at a satisfactory level of approximately 100,000 tons (April 2001: approximately 40,000 tons). Despite a positive outlook concerning the capacity utilization in both Divisions, the Group’s interim results for the first half year of 2002 are expected to fall below the previous year’s record level due to lower profitability of the overseas business and non-recurring income in 2001. The Mayr-Melnhof Group will continue to pursue its course of expansion in both the Cartonboard and Packaging segments. end of ad-hoc-announcement (c)DGAP 23.04.2002 ——————————————————————————– WKN: 093820; ISIN: AT0000938204; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 230829 Apr 02