Mondi PLC

Latest Results (24.12.2024):

Revenue and EBITDA

Mondi PLC reported a decrease in group revenue for the year ended 31 December 2023, totaling €7,330 million compared to €8,902 million in 2022. The underlying EBITDA also saw a decline, reaching €1,201 million, down from €1,848 million the previous year. This reduction was attributed to lower selling prices and sales volumes due to softer market demand and customer destocking.

Cash Generation and Debt

Despite the decline in revenue and EBITDA, Mondi PLC demonstrated strong cash generation, with cash generated from operations increasing to €1,312 million in 2023, up from €1,292 million in 2022. The company's net debt to underlying EBITDA ratio stood at 0.3 times, with a pro-forma ratio of 1.0 times, reflecting the proceeds from the sale of its Russian operations.

Earnings Per Share and Dividends

Mondi PLC's basic underlying earnings per share for 2023 were 107.8 euro cents, a significant decrease from 195.6 euro cents in 2022. The company recommended a full-year ordinary dividend of 70.0 euro cents per share, consistent with the previous year. Additionally, a special dividend of €1.60 per share was distributed following the sale of Russian assets.

Investment and Growth Projects

Mondi PLC continued to invest in its growth projects, with €1.2 billion allocated for organic growth investments. These projects, focused on sustainable packaging, are on track and on budget, with expectations to deliver a meaningful EBITDA contribution from 2025. The investments are diversified across the company's value chain, products, and geographic reach.

Sustainability and MAP2030

Progressing towards its sustainability goals, Mondi PLC reported that 85% of its packaging and paper revenue in 2023 came from reusable, recyclable, or compostable products, up from 74% in 2020. The company continues to advance its Mondi Action Plan 2030 (MAP2030), focusing on sustainable packaging solutions to address global challenges like climate change and plastic pollution.