Mayr-melnhof Karton Ag · VIE:MMK
Mayr-melnhof Karton — HY1 2026 Earnings Presentation
17 slides from Mayr-melnhof Karton's earnings presentation, Aug 20, 2026
Slide 1: MM Group Half-Year Presentation
20 August 2026 MM Group I Half-Year Presentation
Slide 2: HY 1 / 2026 MM Group Highlights
HY 1 / 2026 MM Group Highlights • Adj. EBITDA almost matches prior-year level (like-for-like, excl. TANN) with clear sequential improvement over HY2/2025 - €105mn Fit-For-Future programme contribution in HY1/2026 mitigated mainly for lower prices in Board & Paper - Adj. EBITDA Pharma & Healthcare Pa
Slide 3: Successful Fit-For-Future Programme
Successful Fit-For-Future Programme P&L effects - €105mn yoy in HY 1/2026 well above expectation The FFF Programme: - Expect > €100mn yoy in HY2/2026 • Focused on on improving productivity, - Expect > €60mn in 2027 yoy sustainable cost reductions and also topline growth. - Expect > €330mn accumulate
Slide 4: MM Group – HY1 / 2026 Results like-for-like (excl. TANN)
MM Group – HY1 / 2026 Results like-for-like (excl. TANN) (consolidated in €mn, IFRS) HY1/2026 HY1/2025 pro forma +/- HY2/2025 +/- • Topline foremost impacted by lower pricing Sales 1,849.3 1,941.3 - 4.7 % 1,855.3 - 0.3 % environment. Adjusted EBITDA 200.2 207.4 - 3.5 % 188.0 + 6.5 % • Adj. EBITDA an
Slide 5: MM Group – HY1 / 2026 Key Indicators
MM Group – HY1 / 2026 Key Indicators Jun. 30, Dec. 31, 2026 2025 • Stable equity ratio at 47 % Equity ratio (%) 46.9 % 47.0 % Capital Employed (LTM) (in €mn) 3,200.0 3,357.3 • Slight increase in net debt following the dividend payment in Q2 Net debt (in €mn) 945.2 913.7 Net debt/adj. EBITDA1) 2.4 2.
Slide 6: MM Food & Premium Packaging – European Leader in Food Folding Carton Packaging
MM Food & Premium Packaging – European Leader in Food Folding Carton Packaging (consolidated in €mn, IFRS HY1/2026 HY1/2025 +/- HY2/2025 +/- • Adj. EBITDA increased yoy by 0,9 % to €97.9mn excl. TANN) pro forma (like-for-like). Sales1) 684.0 724.6 - 5.6 % 725.1 - 5.7 % Adjusted EBITDA 97.9 97.0 + 0.
Slide 7: MM Pharma and Healthcare Packaging – Global Leader in secondary fibre-based pharma packaging
MM Pharma and Healthcare Packaging – Global Leader in secondary fibre-based pharma packaging (consolidated in €mn, IFRS) HY1/2026 HY1/2025 +/- HY2/2025 +/- • Adj. EBITDA increased yoy by 14 % to €45.6mn. Sales1) 318.8 320.8 - 0.6 % 297.5 + 7.2 % • Adj. EBITDA margin improved yoy by 180 bp to Adjuste
Slide 8: Innovation with plastic replacement
Innovation with plastic replacement • y Solutions from cartonboard intelligently replacing plastic Moulded pulp solutions successfully Anti-counterfeiting labels featuring highly effective replacing plastic and metal micro-optics technology MM Group I Half-Year Presentation 8
Slide 9: MM Board & Paper – European Folding Cartonboard Leader
MM Board & Paper – European Folding Cartonboard Leader (consolidated in €mn, IFRS) HY1/2026 HY1/2025 +/- HY2/2025 +/- • Adj. EBITDA decreased yoy by 19 % to €56.8mn, Sales1) 940.4 1,000.1 - 6.0 % 930.1 + 1.1 % but sequentially up by 27 %. Adjusted EBITDA 56.8 70.3 - 19.3 % 44.7 + 27.2 % • Adj. EBITD
Slide 10: MM Board & Paper – European Folding Cartonboard Leader
MM Board & Paper – European Folding Cartonboard Leader Top-Line (consolidated in €mn, IFRS) HY1/2026 HY1/2025 +/- HY2/2025 +/- Sales1) 940.4 1,000.1 - 6.0 % 930.1 + 1.1 % • FBB and WLC volumes improved nicely with Adjusted EBITDA 56.8 70.3 - 19.3 % 44.7 + 27.2 % market share gains in Europe, whilst
Slide 11: Deep Dive MM on asset base
Deep Dive MM Board & Paper on asset base FBB: Age vs. Capacity / Asset Benchmark Europe % of capacity on cost curve 3 high-capacity mills are either Weighted average technical age 800 underutilized, not fully ramped up or majorly cater to the US market Grade capacity per PM, 700 ~ 80% of capacity in
Slide 12: Deep Dive MM on capacity utilisation, sales structure, operational excellence
Deep Dive MM Board & Paper on capacity utilisation, sales structure, operational excellence • Strong positions on cost curves with well invested mills. • Capacity utilisation has improved step by step since 2023, reaching 87 % in HY1/26 • MM Board & Paper has more than 90 % of its global sales of fo
Slide 13: Outlook
Outlook Outlook for HY2/2026: - Annual maintenance standstills in MM Kwidzyn and MM Kotkamills to impact Q3 Operating Profit by ~ €35mn - Higher transport, energy, chemical, wood and paper for recycling costs - Subdued consumer demand + However, in Packaging volumes for GLP-1 products, beauty, bever
Slide 14: Outlook
Outlook Outlook 2027: + Agreement to acquire Reno de Medici’s Arnsberg mill has high synergy potentials for 2027 and 2028 (transaction subject to external approvals) + Capex in autumn 2026 at MM Kwidzyn (aggregated ~ €100mn) to substantially boost Operating profit by about €30mn p.a. from 2027 on •
Slide 15: Glossary
Glossary • The term Folding Cartonboard comprises Folding Boxboard (FBB) and White Lined Chipboard (WLC) and Solid Bleached Board (SBB), but excludes Coated Unbleached Kraft (CUK) and Liquid Packaging Board (LPB) MM Group I Half-Year Presentation 15
Slide 16: Contact
Contact MM Group Brahmsplatz 6 1040 Wien / Austria Tel: +43 (0)1 501 36 – 0 investor.relations@mm.group www.mm.group 17
Slide 17: Disclaimer
Disclaimer Mayr-Melnhof Karton Aktiengesellschaft and its Group companies (hereinafter collectively or individually “MM”) expressly disclaim any warranty or liability as to accuracy or completeness of the information provided in this presentation. This presentation contains forward-looking statement