Mayr-Melnhof Karton Ag (MNHFF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everybody to this Q&A podcast on the Meyer Melhoff Group interim results for the first three quarters of 25. I'm delighted to have the company's CEO, Peter Oswald, with me for some first-hand information. Peter, could you please share with us your initial reflections on the Q3 results? Yes, I'm pleased that our results for the first three quarters were significantly up against last year, which is quite rare in our industry in these days. The adjusted operating profit rose by 20% and pro forma excluding TAN even by 32%. And since there was no support from the markets, this success is driven by our profit improvement program, Fit for Future, at two major mills. And given its success, we have launched Fit for Future in Q1, as we've already reported, on a group-wide scale and have intensified the program now in Q3. The ramp-up of the program has proven highly successful and shows strong potential beyond our original estimate of €150 million if we compare the 27 with the 24 results. We will report earning effects and progress alongside the 25 annual results in mid-March 26. The divestment of TAN completed in the second quarter significantly boosted this year's group reported profit through a one-off gain of preliminary around 127 million euro. Having exited the tipping paper business at a time of record profitability, These strategic moves allow us to concentrate on our core business of consumer packaging. Could you briefly describe the Q3 earnings situation across the divisions? Yeah, with pleasure. Overall, our adjusted operating profit in Q3 was flat compared to Q3 last year, but significantly up on a like-for-like basis, excluding the divested ton group. If we look now specifically to our divisions, food and premium packaging profit was down due to the ton div...