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Mayr-Melnhof Karton AG — Earnings Release 2016
May 19, 2016
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Earnings Release
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News Details
Corporate | 19 May 2016 08:00
Mayr-Melnhof Karton AG: Results for the first Quarter of 2016
DGAP-News: Mayr-Melnhof Karton AG / Key word(s): Quarter Results
2016-05-19 / 08:00
The issuer is solely responsible for the content of this announcement.
Results for the 1st Quarter of 2016
* Good first quarter
* Growth again in sales and profit
* Visibility is currently decreasing
The Mayr-Melnhof Group was able to solidly maintain its position in the
first quarter of 2016 despite a considerably restrained market environment.
Both divisions succeeded in increasing their business volumes and thus
registered an overall good capacity utilization of production sites. The
acquisition of a folding carton group in France at the end of October last
year contributed an expected growth compared to the previous year.
With a largely stable development on the procurement markets, high price
discipline and cost efficiency enabled MM Karton and MM Packaging to keep
the yield from the business at the good level of the previous year.
Due to a continuous lack of impulses from the overall economy, the
situation on our markets is characterized by a further decrease in
visibility and therefore high competition. The priority lies on
safeguarding profitability as best as possible as well as maintaining
respectively extending our market shares.
GROUP KEY INDICATORS - IFRS
in millions of EUR
1Q/2016 1Q/2015 +/-
Sales 576.0 533.9 +7.9 %
Operating Profit 55.2 50.8 +8.7 %
Operating margin (in %) 9.6 % 9.5 %
Profit before tax 53.2 47.6 +11.8 %
Income tax expense (13.8) (12.1)
Profit for the period 39.4 35.5 +11.0 %
Earnings per share (in EUR) 1.96 1.77
The Group's consolidated sales rose by 7.9 % or EUR 42.1 million to EUR
576.0 million (1Q 2015: EUR 533.9 million). This increase primarily results
from higher business volumes in both divisions.
Analogously, a rise in operating profit of 8.7 % or EUR 4.4 million to EUR
55.2 million (1Q 2015: EUR 50.8 million) was reached. It was therefore
possible to maintain the Group's operating margin with 9.6 % at the good
level of the comparative period of the previous year (1Q 2015: 9.5 %).
Financial income of EUR 0.7 million (1Q 2015: EUR 0.4 million) was offset
by financial ex-penses of EUR -1.6 million (1Q 2015: EUR -1.6 million).
Profit before tax thus rose by 11.8 % to EUR 53.2 million (1Q 2015: EUR
47.6 million). Income tax expense totaled EUR 13.8 million (1Q 2015: EUR
12.1 million), resulting in an effective Group tax rate of 25.9 % (1Q 2015:
25.4 %).
Profit for the period went up by 11.0 % to EUR 39.4 million (1Q 2015: EUR
35.5 million). This corresponds to 6.8 % of sales (1Q 2015: 6.6 %).
OUTLOOK
Looking ahead, the increasingly challenging overall conditions are
apparent. The visibility of demand on the cartonboard and folding carton
markets has currently become noticeably more short-term and thus, the
situation ongoing competitive. Adherence to a consistent price policy ahead
of capacity utilization remains as always our priority. Hence, the strong
profit development in the first quarter will be a challenge for the
subsequent quarters.
As in the past, aside from exploitation of organic growth possibilities, we
will also lay a great emphasis on our course of expansion through
acquisitions.
Please find the detailed Press Release and the Interim Report for the 1st
Quarter of 2016 on our homepage http://www.mayr-melnhof.com.
Forthcoming Results:
August 18, 2016 Half-Year Results 2016
For further information, please contact:
Stephan Sweerts-Sporck
Investor Relations
Mayr-Melnhof Karton AG
Brahmsplatz 6
A-1040 Vienna
Tel.: +43 1 501 36-91180
Fax: +43 1 501 36-191195
E-Mail: [email protected]
Website: http://www.mayr-melnhof.com
2016-05-19 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Mayr-Melnhof Karton AG
Brahmsplatz 6
1040 Wien
Austria
Phone: 0043 1 501 36 91180
Fax: 0043 1 501 36 91391
E-mail: [email protected]
Internet: www.mayr-melnhof.com
ISIN: AT0000938204
WKN: 93820
Indices: ATX
Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart;
Open Market in Frankfurt ; Wien (Amtlicher Handel /
Official Market)
End of News DGAP News Service