Mayr-Melnhof Karton Ag (MNHFF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:06.378 Welcome everyone and thank you for joining this announcement of our annual results. 00:00:06.401 -- 00:00:11.929 In 25, our adjusted operating profit increased by 3%, 00:00:11.929 -- 00:00:17.558 but practically more relevant on a performer basis like for like excluding the divest 00:00:17.558 -- 00:00:21.060 fund group by 15%, 00:00:21.404 -- 00:00:27.166 which is quite a strong performance in such a challenging market environment. 00:00:27.166 -- 00:00:32.474 Our food and premium packaging division managed to keep the adjusted operating 00:00:32.474 -- 00:00:36.076 margin at a very 00:00:36.300 -- 00:00:41.788 solid level, while pharma and healthcare packaging delivered an encouraging 25% 00:00:41.788 -- 00:00:45.553 increase in adjusted operating profit. 00:00:45.553 -- 00:00:50.921 And board and paper also showed a clear improvement compared to last year, although profitability 00:00:50.921 -- 00:00:56.857 is still not on a satisfactory level. And the key driver behind this progress 00:00:56.857 -- 00:01:02.455 has been our group-wide Fit for Future program, which we have successfully accelerated 00:01:02.455 -- 00:01:07.950 throughout the year across all divisions. And working with our dedicated 00:01:07.950 -- 00:01:13.640 MM teams and supported by external expertise, we pursue a comprehensive 00:01:13.640 -- 00:01:19.550 set of initiatives targeting growth, procurement optimization, 00:01:19.550 -- 00:01:24.598 operational efficiency, and structural improvements in sales and administration. 00:01:24.598 -- 00:01:27.443 So nothing is left undone. 00:01:27.443 -- 00:01:32.690 Given the strong performance and the good progress of Fit4Future, 00:01:32.690 -- 00:01:35.214 our confidence has strengthened 00:01:35.214 -- 00:01:40.2...