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CEO Video Statement on first HY 2020
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KEY INDICATORS
Multi-Annual Overview MM Group
| Consolidated (in millions of EUR) | 2023 | 20221) | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Sales | 4,164.4 | 4,682.1 | 3,069.7 | 2,528.4 | 2,544.4 |
| Adjusted EBITDA2) | 450.2 | 769.0 | 421.0 | 411.8 | 389.6 |
| Adjusted operating profit2) | 229.2 | 562.4 | 269.6 | 268.0 | 255.3 |
| Operating profit | 197.6 | 510.4 | 269.6 | 231.4 | 255.3 |
| Profit for the year | 89.1 | 345.3 | 190.7 | 162.2 | 190.2 |
| Cash flow from operating activities | 786.2 | 299.7 | 269.8 | 318.2 | 331.4 |
| Free cash flow | 369.8 | -19.7 | 37.9 | 173.8 | 197.1 |
| Capital expenditures/depreciation (in millions of EUR) | |||||
| Capital expenditures | 425.3 | 329.4 | 248.4 | 152.8 | 136.1 |
| Depreciation and amortisation3) | 221.4 | 219.5 | 151.4 | 167.5 | 134.3 |
| Personnel | |||||
| Employees | 15,087 | 15,640 | 12,492 | 9,938 | 10,014 |
| Profitability Indicators | |||||
| Return on equity | 4.5 % | 19.1 % | 11.9 % | 10.6 % | 13.1 % |
| Return on assets | 3.1 % | 8.6 % | 6.7 % | 7.1 % | 9.0 % |
| Net profit margin | 2.1 % | 7.4 % | 6.2 % | 6.4 % | 7.5 % |
| EBITDA margin4) | 10.8 % | 16.4 % | 13.7 % | 16.3 % | 15.3 % |
| Operating margin4) | 5.5 % | 12.0 % | 8.8 % | 10.6 % | 10.0 % |
| Return on capital employed4) | 6.5 % | 17.9 % | 12.8 % | 15.8 % | 15.4 % |
| Return on investment | 3.9 % | 11.1 % | 8.8 % | 9.4 % | 11.7 % |
| Balance Sheet Indicators | |||||
| Equity ratio | 39.6 % | 40.7 % | 41.4 % | 64.5 % | 62.3 % |
| Property, plant and equipment to total assets | 40.5 % | 37.3 % | 37.1 % | 41.5 % | 42.7 % |
| Total equity and non-current liabilities to property, plant and equipment | 1.9 | 2.1 | 2.2 | 2.0 | 1.9 |
| Working capital (in millions of EUR) | 842.3 | 1,028.3 | 809.3 | 584.4 | 523.9 |
| Financial Indicators | |||||
| Net debt (-) /net liquidity (+) (in millions of EUR) | 1,261.9 | 1,481.5 | 1,063.5 | 122.2 | 218.6 |
| Net debt/EBITDA5) | 2.8 | 1.9 | 2.1 | 0.3 | 0.6 |
| Net debt/equity | 62.7 % | 75.6 % | 64.0 % | 7.9 % | 14.5 % |
| Share Performance Indicators (in EUR) | |||||
| Market capitalisation5) (in Mio. EUR) | 2,532 | 3,024 | 3,532 | 3,300 | 2,392 |
| Earnings per share | 4.36 | 17.19 | 9.46 | 8.06 | 9.49 |
| Dividend per share | 1.506) | 4.20 | 3.50 | 3.20 | 3.20 |
1) adjusted due to the adjustment of the acquisition of Essentra Packaging
2) adjusted for material one-off effects (see glossary)
3) incl. impairments and write-ups on property, plant and equipment and intangible assets as well as non-current assets held for sale
4) calculated with adjusted result figure
5) per ultimo
6) proposed for 2023
2) adjusted for material one-off effects (see glossary)
3) incl. impairments and write-ups on property, plant and equipment and intangible assets as well as non-current assets held for sale
4) calculated with adjusted result figure
5) per ultimo
6) proposed for 2023
KEY INDICATORS
Quarterly Overview
| (consolidated, in millions of EUR) | Q1/2023 | Q2/2023 | Q3/2023 | Q4/2023 | Q1/2024 | Q2/2024 | Q3/2024 |
| Sales | 1,122.1 | 1,059.3 | 1,015.1 | 967.9 | 1,025.0 | 1,018.9 | 1,024.9 |
| Adjusted EBITDA | 133.6 | 103.7 | 121.4 | 91.5 | 94.5 | 107.2 | 94.0 |
| Adjusted operating profit | 78.7 | 48.3 | 63.4 | 38.8 | 39.6 | 51.0 | 35.7 |
| Adjusted operating margin (%) | 7.0 % | 4.6 % | 6.2 % | 4.0 % | 3.9 % | 5.0 % | 3.5 % |
| Operating profit | 61.6 | 42.4 | 55.8 | 37.8 | 39.6 | 51.0 | 35.7 |
| Capital employed | 3,309.3 | 3,449.8 | 3,558.0 | 3,546.3 | 3,515.0 | 3,455.2 | 3,410.6 |
| Return on capital employed (%) | 16.0 % | 11.7 % | 8.4 % | 6.5 % | 5.4 % | 5.6 % | 4.8 % |
| Profit before tax | 49.0 | 28.2 | 41.7 | 17.8 | 18.0 | 33.2 | 19.7 |
| Income tax expense | (14.1) | 0.2 | (13.8) | (19.9) | (7.1) | (6.7) | (4.8) |
| Profit for the period | 34.9 | 28.4 | 27.9 | (2.1) | 10.9 | 26.5 | 14.9 |
| Net profit margin (%) | 3.1 % | 2.7 % | 2.7 % | -0.2 % | 1.1 % | 2.6 % | 1.5 % |
| Earnings per share (in EUR) | 1.71 | 1.41 | 1.38 | (0.14) | 0.52 | 1.30 | 0.72 |
| Cash flow from operating activities | 67.2 | 82.9 | 177.2 | 458.9 | 52.5 | 148.1 | (33.0) |
| Free cash flow | (28.6) | (36.3) | 73.7 | 361.0 | (38.5) | 97.9 | (78.2) |
| Capital expenditures | 96.4 | 121.4 | 105.7 | 101.8 | 92.8 | 52.7 | 45.8 |
| (in millions of EUR) | Q1/2023 | Q2/2023 | Q3/2023 | Q4/2023 | Q1/2024 | Q2/2024 | Q3/2024 |
| Sales1) | 483.0 | 438.3 | 449.0 | 410.9 | 428.9 | 407.0 | 431.6 |
| Adjusted EBITDA | 62.2 | 67.9 | 86.8 | 65.6 | 60.1 | 61.3 | 68.2 |
| Adjusted operating profit | 43.7 | 49.8 | 66.8 | 54.6 | 40.8 | 41.6 | 48.2 |
| Adjusted operating margin (%) | 9.0 % | 11.4 % | 14.9 % | 13.3 % | 9.5 % | 10.2 % | 11.2 % |
| Operating profit | 28.0 | 49.1 | 66.9 | 55.8 | 40.8 | 41.6 | 48.2 |
| Capital employed | 1,196.1 | 1,258.0 | 1,300.0 | 1,272.2 | 1,243.0 | 1,210.1 | 1,180.5 |
| Return on capital employed2) (%) | 14.6 % | 14.9 % | 16.4 % | 16.9 % | 17.1 % | 16.9 % | 15.7 % |
| Cash flow from operating activities | 65.0 | 70.3 | 88.5 | 194.6 | 47.3 | 71.9 | 28.6 |
| Free cash flow | 34.5 | 38.1 | 54.0 | 175.9 | 25.8 | 58.9 | 16.2 |
| Capital expenditures | 31.1 | 34.0 | 36.3 | 21.5 | 23.1 | 13.8 | 10.6 |
| Produced volume (in millions of m2) | 845 | 734 | 730 | 718 | 787 | 741 | 813 |
1) including interdivisional sales
2) The calculation of the previous year’s figures is based on the average of the last three, six and nine months respectively.
2) The calculation of the previous year’s figures is based on the average of the last three, six and nine months respectively.
| (in millions of EUR) | Q1/2023 | Q2/2023 | Q3/2023 | Q4/2023 | Q1/2024 | Q2/2024 | Q3/2024 |
| Sales1) | 174.1 | 169.1 | 158.1 | 152.3 | 164.8 | 156.8 | 148.6 |
| Adjusted EBITDA | 17.1 | 18.1 | 19.9 | 19.9 | 21.0 | 16.6 | 18.3 |
| Adjusted operating profit | 7.3 | 8.3 | 10.1 | 8.4 | 12.1 | 7.2 | 7.5 |
| Adjusted operating margin (%) | 4.2 % | 4.9 % | 6.4 % | 5.5 % | 7.3 % | 4.6 % | 5.0 % |
| Operating profit | 5.9 | 3.1 | 2.4 | 6.2 | 12.1 | 7.2 | 7.5 |
| Capital employed | 367.7 | 394.7 | 411.4 | 405.0 | 408.9 | 409.3 | 414.3 |
| Return on capital employed2) (%) | 8.0 % | 7.9 % | 8.3 % | 8.4 % | 9.5 % | 9.2 % | 8.5 % |
| Cash flow from operating activities | (7.8) | 9.6 | 24.6 | 49.8 | 19.8 | 15.0 | (2.0) |
| Free cash flow | (15.1) | 0.1 | 5.1 | 17.3 | (5.0) | 6.2 | (13.4) |
| Capital expenditures | 7.3 | 9.5 | 19.7 | 32.6 | 24.9 | 10.0 | 12.1 |
| Produced volume (in millions of m2) | 249 | 245 | 233 | 230 | 245 | 233 | 232 |
1) including interdivisional sales
2) The calculation of the previous year’s figures is based on the average of the last three, six and nine months respectively.
2) The calculation of the previous year’s figures is based on the average of the last three, six and nine months respectively.
| (in millions of EUR) | Q1/2023 | Q2/2023 | Q3/2023 | Q4/2023 | Q1/2024 | Q2/2024 | Q3/2024 |
| Sales1) | 521.2 | 498.1 | 448.4 | 451.4 | 483.5 | 502.7 | 491.1 |
| Adjusted EBITDA | 54.3 | 17.7 | 14.7 | 6.0 | 13.4 | 29.3 | 7.5 |
| Adjusted operating profit | 27.7 | (9.8) | (13.5) | (24.2) | (13.3) | 2.2 | (20.0) |
| Adjusted operating margin (%) | 5.3 % | -2.0 % | -3.0 % | -5.4 % | -2.7 % | 0.4 % | -4.1 % |
| Operating profit | 27.7 | (9.8) | (13.5) | (24.2) | (13.3) | 2.2 | (20.0) |
| Capital employed | 1,745.5 | 1,797.1 | 1,846.6 | 1,869.1 | 1,863.1 | 1,835.8 | 1,815.8 |
| Return on capital employed (%) | 20.8 % | 12.3 % | 5.0 % | -1.1 % | -3.3 % | -2.7 % | -3.0 % |
| Cash flow from operating activities | 10.0 | 3.0 | 64.1 | 214.5 | (14.6) | 61.2 | (59.6) |
| Free cash flow | (48.0) | (74.5) | 14.6 | 167.8 | (59.3) | 32.8 | (81.0) |
| Capital expenditures | 58.0 | 77.9 | 49.7 | 47.7 | 44.8 | 28.9 | 23.1 |
| Tonnage produced (in thous. of tonnes) | 688 | 644 | 666 | 696 | 795 | 812 | 747 |
| Cartonboard | 374 | 356 | 356 | 386 | 450 | 465 | 431 |
| Paper | 114 | 113 | 125 | 121 | 126 | 119 | 118 |
| Pulp2) | 200 | 175 | 185 | 189 | 219 | 228 | 198 |
| Market pulp | 23 | 10 | 13 | 23 | 32 | 33 | 19 |
| Internal pulp | 177 | 165 | 172 | 166 | 187 | 195 | 179 |
1) including interdivisional sales
2) Chemical pulp and CTMP
KEY INDICATORS
Reconciliation of Key Indicators
Reconciliation of key indicators of the 1st half-year 2024
Reconciliation of key indicators for the first quarter of 2024
ESMA-Alternative Performance Measures 2023
Reconciliation of key indicators for the first three quarters of 2023
Reconciliation of key indicators for the first half-year 2023
Reconciliation of key indicators for the first quarter of 2023
IR/Ad hoc Releases
MM to sell TANN Group
Ad-hoc: MM to sell TANN Group
MM Group on CDP Supplier Engagement Leaderboard
Results for the first three quarters of 2024
Results for the 1st Half-Year 2024
Peter Oswald reappointed as Chairman of the Management Board and CEO. Management Board expanded to include Packaging Manager Roman Billiani.
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