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Ordinary Shareholders’ Meeting
Convening of the 32nd Ordinary Shareholders’ Meeting
We would like to invite our shareholders to the 32nd Ordinary Shareholders’ Meeting of Mayr-Melnhof Karton Aktiengesellschaft
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KEY INDICATORS
Multi-Annual Overview MM Group
| consolidated (in millions of EUR) | 2021 | 20221) | 2023 | 2024 | 2025 |
| Development of sales | |||||
| Total sales | 3,524.5 | 5,315.7 | 4,902.8 | 4,905.9 | 4,473.4 |
| less intersegment sales between the divisions | (133.0) | (236.6) | (189.6)2) | (192.7) | (201.6) |
| less intersegment sales in the divisions | (321.8) | (397.1) | (548.8)2) | (633.6) | (386.5) |
| Consolidated sales | 3,069.7 | 4,682.1 | 4,164.4 | 4,079.6 | 3,885.3 |
| Earnings data | |||||
| Net value added | 805.7 | 1,163.8 | 973.0 | 958.2 | 1,002.5 |
| Adjusted EBITDA3) | 421.0 | 769.0 | 450.2 | 418.5 | 418.2 |
| Adjusted operating profit3) | 269.6 | 562.4 | 229.2 | 190.0 | 195.4 |
| Operating profit | 269.6 | 510.4 | 197.6 | 190.0 | 221.0 |
| Profit before tax | 244.5 | 467.0 | 136.7 | 114.3 | 145.7 |
| Profit for the year | 190.7 | 345.3 | 89.1 | 110.5 | 77.0 |
| Cash flow from operating activities | 269.8 | 299.7 | 786.2 | 516.3 | 231.1 |
| Free cash flow | 37.9 | (19.7) | 369.8 | 302.2 | 11.1 |
| Capital expenditures/depreciation | |||||
| Capital expenditures | 248.4 | 329.4 | 425.3 | 220.9 | 232.7 |
| Depreciation and amortisation | 149.0 | 198.5 | 218.5 | 228.0 | 219.7 |
| Impairments and write-ups | 2.4 | 21.0 | 2.9 | 0.5 | 76.3 |
| Employees | 12,492 | 15,640 | 15,087 | 14,710 | 13,347 |
| Profitability indicators | |||||
| Return on equity | 11.9 % | 19.1 % | 4.5 % | 5.3 % | 3.6 % |
| Return on assets | 6.7 % | 8.6 % | 3.1 % | 4.0 % | 2.9 % |
| Net profit margin | 6.2 % | 7.4 % | 2.1 % | 2.7 % | 2.0 % |
| Adjusted EBITDA margin | 13.7 % | 16.4 % | 10.8 % | 10.3 % | 10.8 % |
| Adjusted operating margin | 8.8 % | 12.0 % | 5.5 % | 4.7 % | 5.0 % |
| Adjusted return on capital employed | 12.8 % | 17.9 % | 6.5 % | 5.6 %4) | 5.8 % |
| Return on investment | 8.8 % | 11.1 % | 3.9 % | 5.1 %4) | 3.7 % |
| Balance sheet indicators | |||||
| Equity ratio | 41.4 % | 40.7 % | 39.6 % | 43.8 % | 47.0 % |
| Property, plant and equipment to total assets | 37.1 % | 37.3 % | 40.5 % | 41.6 % | 44.6 % |
| Total equity and non-current liabilities to property, plant and equipment | 2.2 | 2.1 | 1.9 | 1.9 | 1.8 |
| Working capital | 809.3 | 1,028.3 | 842.3 | 776.3 | 564.4 |
| Financial indicators | |||||
| Net debt | 1,063.5 | 1,481.5 | 1,261.9 | 1,078.74) | 913.7 |
| Net debt/adjusted EBITDA | 2.1 | 1.9 | 2.8 | 2.64) | 2.2 |
| Net debt/equity | 64.0 % | 75.6 % | 62.7 % | 50.7 %4) | 43.4 % |
| Share performance indicators | |||||
| Market capitalisation5) | 3,532 | 3,024 | 2,532 | 1,592 | 1,805 |
| Earnings per share (in EUR) | 9.46 | 17.19 | 4.36 | 5.41 | 3.86 |
| Dividend per share (in EUR) | 3.50 | 4.20 | 1.50 | 1.80 | 2.006) |
1) adjusted due to the adjustment of the acquisition of Essentra Packaging
2) adjusted due to the new corporate structure
3) Adjusted for material one-off effects. To enhance significance of the earnings figures in the divisions, management now defines “material” as impact of more than
EUR 5 million on operating profit (previously more than EUR 10 million).
4) incl. cash and financial liabilities of TANN Group
5) per ultimo
6) proposed for 2025
Quarterly Overview
| (consolidated, in millions of EUR) | Q4/2024 | Q1/2025 | Q2/2025 | Q3/2025 | Q4/2025 |
| Sales | 1,010.8 | 1,042.6 | 987.4 | 949.5 | 905.8 |
| Adjusted EBITDA1) | 122.8 | 119.3 | 111.2 | 89.8 | 97.9 |
| Adjusted EBITDA margin (%) | 12.2 % | 11.4 % | 11.3 % | 9.5 % | 10.8 % |
| Adjusted operating profit1) | 63.7 | 61.0 | 55.7 | 35.2 | 43.5 |
| Adjusted operating margin (%) | 6.3 % | 5.8 % | 5.6 % | 3.7 % | 4.8 % |
| Adjusted return on capital employed (%) | 5.6 %2) | 6.2 % | 6.3 % | 6.3 % | 5.8 % |
| Operating profit | 63.7 | 55.5 | 178.5 | 23.8 | (36.8) |
| Profit before tax | 43.4 | 31.8 | 163.0 | 8.1 | (57.2) |
| Income tax expense | 14.8 | (10.7) | (19.8) | (5.9) | (32.3) |
| Profit for the period | 58.2 | 21.1 | 143.2 | 2.2 | (89.5) |
| Net profit margin (%) | 5.8 % | 2.0 % | 14.5 % | 0.2 % | -9.9 % |
| Earnings per share (in EUR) | 2.87 | 1.04 | 7.25 | 0.12 | -4.55 |
| Cash flow from operating activities | 348.7 | (128.2) | 24.9 | 82.6 | 251.8 |
| Free cash flow | 321.0 | (183.5) | (21.9) | 27.9 | 188.6 |
| Capital expenditures | 29.6 | 55.7 | 49.6 | 58.4 | 69.0 |
| Capital employed | 3,376.92) | 3,407.8 | 3,429.3 | 3,398.7 | 3,357.3 |
1) Adjusted for material one-off effects. To enhance significance of the earnings figures in the divisions, management now defines “material” as impact of more than EUR 5 million on operating profit (previously more than EUR 10 million).
2) incl. cash and financial liabilities of TANN Group
1) incl. interdivisional sales
2) Adjusted for material one-off effects. To enhance significance of the earnings figures in the divisions, management now defines “material” as impact of more than EUR 5 million on operating profit (previously more than EUR 10 million).
3) incl. cash and financial liabilities of TANN Group
1) incl. interdivisional sales
2) Adjusted for material one-off effects. To enhance significance of the earnings figures in the divisions, management now defines “material” as impact of more than EUR 5 million on operating profit (previously more than EUR 10 million).
1) incl. interdivisional sales
2) Adjusted for material one-off effects. To enhance significance of the earnings figures in the divisions, management now defines “material” as impact of more than EUR 5 million on operating profit (previously more than EUR 10 million).
3) incl. coated liner
4) Chemical pulp and CTMP
KEY INDICATORS
Reconciliation of Key Indicators
ESMA-Alternative Performance Measures 2025
Reconciliation of key indicators for the first three quarters of 2025
Reconciliation of key indicators of the first half-year 2025
Reconciliation of key indicators for the first quarter of 2025
ESMA-Alternative Performance Measures 2024
Reconciliation of key indicators for the first three quarters of 2024
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