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

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WEBVTT 00:00:01.769 -- 00:00:06.839 Welcome everybody to this Q&A podcast on the Meyer Melhoff Group interim results 00:00:06.839 -- 00:00:12.049 for the first three quarters of 25. I'm delighted to have the company's CEO, Peter 00:00:12.049 -- 00:00:15.917 Oswald, with me for some first-hand information. 00:00:15.917 -- 00:00:22.065 Peter, could you please share with us your initial reflections on the Q3 results? 00:00:22.525 -- 00:00:27.630 Yes, I'm pleased that our results for the first three quarters were significantly 00:00:27.630 -- 00:00:32.735 up against last year, which is quite rare in our industry in these days. 00:00:32.735 -- 00:00:37.900 The adjusted operating profit rose by 20% and pro forma excluding TAN 00:00:37.900 -- 00:00:40.243 even by 32%. 00:00:40.243 -- 00:00:44.707 And since there was no support from the markets, this success is driven by our profit 00:00:44.707 -- 00:00:49.392 improvement program, Fit for Future, at two major mills. 00:00:49.392 -- 00:00:54.455 And given its success, we have launched Fit for Future in Q1, as we've 00:00:54.455 -- 00:00:59.683 already reported, on a group-wide scale and have intensified 00:00:59.683 -- 00:01:03.108 the program now in Q3. 00:01:03.108 -- 00:01:08.315 The ramp-up of the program has proven highly successful and shows strong potential beyond 00:01:08.315 -- 00:01:12.401 our original estimate of €150 million 00:01:12.401 -- 00:01:17.167 if we compare the 27 with the 24 results. 00:01:17.167 -- 00:01:22.172 We will report earning effects and progress alongside the 25 annual 00:01:22.172 -- 00:01:26.033 results in mid-March 26. 00:01:26.135 -- 00:01:31.480 The divestment of TAN completed in the second quarter significantly boosted 00:01:31.480 -- 00:01:36.665 this year's group reported profit throug...