Packaging firm Mondi has posted a 5% revenue increase to €7.48 billion in full-year 2018, with underlying EBITDA up 19% to €1.76 billion.
Underlying operating profit was up 28% to €1.32 billion, the company said, with Mondi posting a ‘robust operation performance and strong cost control across the group’.
The group said that a number of capital investment projects it is currently undertaking are ‘on track and delivering growth’, including the modernisation of the Steti plant in the Czech Republic.
"Mondi delivered a strong performance in 2018, with underlying EBITDA up 19% to €1,764 million,” commented Peter Oswald, Mondi chief executive.
“We benefited from good demand across our fibre packaging businesses, higher average selling prices and the contribution from our recent acquisitions. I am particularly pleased to report on a robust operating performance, delivering productivity gains and strong cost containment, mitigating the inflationary pressures on our cost base.”
In November of last year, Mondi announced plans to simplify its dual listed structure into a single holding company structure under Mondi plc, which Oswald says will “streamline cash and dividend flows, enhance our strategic flexibility, increase transparency and remove the complexity associated with the current structure”.
While the company cites ‘macro-economic uncertainties’ in the marketplace, Oswald added that the company remains “confident in the structural growth drivers in the packaging sectors in which we operate.”
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.