Mayr-Melnhof Karton AG — Earnings Release 2003

May 12, 2003

News Details

Ad-hoc | 12 May 2003 08:32

Mayr-Melnhof Karton AG english

Results for the first quarter of 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Period results exceeded previous year’s level – positive development of business in all Divisions – Forecast horizon remains very short-term – 2nd quarter capacity utilization in the cartonboard area expected to level below 1st quarter 2003 – ongoing favorable development in the folding carton sector Group Key Indicators, US GAAP, unaudited consolidated in EUR millions Q1/2003 Q1/2002 +/- Sales 340.4 294.4 +15.6% Operating profit 39.4 34.5 +14.2% Income before income taxes and minority interests 37.1 34.2 +8.5% Net income 22.2 21.9 +1.4% Against the general economic trend, the results of Mayr-Melnhof Group could be further increased in the first quarter of 2003 through consistent efforts toward cost reduction and integration as well as sound investment decisions. The utilization of the plants was at a high level in all Divisions. MM-Karton showed an overall positive development of business – as MM-Packaging and MM-Graphia – despite a temporary plunge in cartonboard sales to the Near and Middle East caused by the war. OUTLOOK: Stagnation in Europe and uncertainty on the future economic development will presumably determine the general economic situation in the coming months as well. In this environment, we expect 2nd quarter capacity utilization in the cartonboard area to fall below the level of the 1st quarter 2003 (95 %). As in the past, MM-Karton will selectively adjust cartonboard production to market conditions. In the folding carton business of MM-Packaging and MM-Graphia, the favorable trend should continue in the coming months. Since the effects of the war in Iraq on non-European cartonboard sales proved to be only temporary, it is not yet possible to assess when the stimuli from the Far East might resume. About 5 % of the cartonboard deliveries were sold in this region in 2002. On the raw material markets we do not anticipate any significant changes during the second quarter from a current perspective. Please find our detailed Interim Report for the 1st quarter of 2003 on the Internet at http://www.mayr-melnhof.com. end of ad-hoc-announcement (c)DGAP 12.05.2003 ——————————————————————————– WKN: 093820; ISIN: AT0000938204; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München und Stuttgart 120832 Mai 03