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Annual Results 2023

consolidated, in millions of EUR, IFRS 4Q/2022 1Q/2023 2Q/2023 3Q/2023 4Q/2023
Sales 1,231.7 1,122.1 1,059.3 1,015.1 967.9
Adjusted EBITDA1) 176.7 133.6 103.7 121.4 91.5
EBITDA margin2) (%) 14.3 % 11.9 % 9.8 % 12.0 % 9.5 %
Adjusted operating profit1) 109.1 78.7 48.3 63.4 38.8
Operating profit 58.2 61.6 42.4 55.8 37.8
Operating margin2) (%) 8.9 % 7.0 % 4.6 % 6.2 % 4.0 %
Profit before tax 50.2 49.0 28.2 41.7 17.8
Income tax expense (20.2) (14.1) 0.2 (13.8) (19.9)
Profit for the period 30.0 34.9 28.4 27.9 (2.1)
Net profit margin (%) 2.4 % 3.1 % 2.7 % 2.7 % -0.2 %
Earnings per share (in EUR) 1.52 1.71 1.41 1.38 (0.14)
Cash flow from operating activities 44.0 67.2 82.9 177.2 458.9
Free cash flow (37.0) (28.6) (36.3) 73.7 361.0

1) adjusted for material one-off effects (material defined as impact on operating profit of more than EUR 10 million)
2) calculated with adjusted result figure
3) including interdivisional sales

 

in millions of EUR, IFRS 4Q/2022 1Q/2023 2Q/2023 3Q/2023 4Q/2023
Sales3) 620.5 521.2 498.1 448.4 451.4
Adjusted EBITDA1) 114.7 54.3 17.7 14.7 6.0
Adjusted operating profit1) 87.4 27.7 (9.8) (13.5) (24.2)
Operating profit 62.8 27.7 (9.8) (13.5) (24.2)
Operating margin2) (%) 14.1 % 5.3 % -2.0 % -3.0 % -5.4 %
Cash flow from operating activities 17.4 10.0 3.0 64.1 214.5
Tonnage sold (in thousands of tonnes) 494 473 486 487 502
            Cartonboard 373 375 365 365 371
            Paper 121 98 121 122 131
Tonnage produced (in thousands of tonnes) 492 488 469 482 506

1) adjusted for material one-off effects (material defined as impact on operating profit of more than EUR 10 million)
2) calculated with adjusted result figure
3) including interdivisional sales

in millions of EUR, IFRS 4Q/2022 1Q/2023 2Q/2023 3Q/2023 4Q/2023
Sales3) 658.5 656.7 606.5 605.9 562.0
Adjusted EBITDA1) 62.0 79.3 86.0 106.7 85.5
Adjusted operating profit1) 21.7 51.0 58.1 76.9 63.0
Operating profit (4.6) 33.9 52.2 69.3 62.0
Operating margin2) (%) 3.3 % 7.8 % 9.6 % 12.7 % 11.2 %
Cash flow from operating activities 26.6 57.2 79.9 113.1 244.4
Produced volume (in millions of m2) 1,128 1,094 979 963 948

1) adjusted for material one-off effects (material defined as impact on operating profit of more than EUR 10 million)
2) calculated with adjusted result figure
3) including interdivisional sales

A video statement from the Management Board on the Annual Results 2023 is available on our Homepage at www.mm.group.

The Annual Report 2023 will be available as of April 3, 2024.