Business
Q1 2025 Trading Update
Q1 2025 Trading Update.
About this update from Mondi Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n Mondi plc(Incorporated in England and Wales) (Registered number: 6209386)LEI: 213800LOZA69QFDC9N34LSE share code: MNDI JSE share code: MNP ISIN: GB00BMWC6P49 8 May 2025 Q1 2025 Trading Update Mondi plc (\"Mondi\"), a global leader in sustainable packaging and paper, today provides an update on trading for the three months to 31 March 2025 (\"the first quarter\"). Higher sales volumes, good cost control and fewer planned maintenance shuts in the first quarter of 2025 offset lower average selling prices when compared to the fourth quarter of 2024 (\"Q4 2024\"). Underlying EBITDA for the first quarter was €290 million, including a forestry fair value gain of €2 million (Q4 2024: €261 million including a forestry fair value loss of €27 million).In Corrugated Packaging and Flexible Packaging, stronger order books drove higher sales volumes across Mondi's range of paper grades compared to the fourth quarter of 2024. This was supported by a solid performance in the downstream converting operations. Following selling price declines towards the end of 2024, average selling prices in the first quarter of 2025 were lower than the fourth quarter of 2024. In the last few months, paper price increases have been implemented to largely recover the declines. In Uncoated Fine Paper, market conditions remained muted with lower average selling prices in the quarter when compared to Q4 2024. Profitability was supported by strong cost control.The Group has made good progress with the completion and ramp up of its capacity expansion projects. The new kraft paper machine at Steti (Czech Republic), which commenced operations in December last year, is showing excellent results in terms of paper quality and production volumes. Optimisation of the wider kraft paper mill network is underway. The newly converted paper machine in Duino (Italy) successfully started up in April. Once fully operational it will be capable of producing 420,000 tonnes per annum of high-quality recycled containerboard, increasing Mondi's integration with its corrugated box converting plants, facilitating further optimisation of supply chains and improving security of supply for customers. The acquisition of the Western Europe Packaging Assets of Schumacher Packaging completed on 31 Mar...