Mondi plc (MNDI) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.036 to discuss today's trading update. I'm Andrew King, your Group CEO, and 00:00:05.036 -- 00:00:08.019 with me is Mike Powell, our CFO. 00:00:08.019 -- 00:00:09.620 I'm sure you've all seen the announcements. 00:00:09.620 -- 00:00:15.424 I'm just going to pick up on a few points before we welcome any questions. 00:00:15.786 -- 00:00:20.851 The first quarter of the year was characterized by higher sales volumes, good cost control, 00:00:20.851 -- 00:00:26.257 and fewer planned maintenance shuts. These offset lower average selling prices when compared 00:00:26.257 -- 00:00:29.343 to the fourth quarter of 2024. 00:00:29.343 -- 00:00:35.729 and the line EBITDA for the quarter was reported at 290 million euros. 00:00:35.732 -- 00:00:40.479 Importantly, we continue to make good progress ramping up production at our capacity 00:00:40.479 -- 00:00:45.767 expansion projects. Our new craft paper machine at Stetti, which we started up in December 00:00:45.767 -- 00:00:50.775 last year, is showing excellent results in terms of both paper quality and 00:00:50.775 -- 00:00:52.798 production volumes. 00:00:52.798 -- 00:00:57.184 We are also delighted that our newly converted paper machine Arduino in Italy successfully 00:00:57.184 -- 00:01:01.866 started up on time and on budget in April. 00:01:01.888 -- 00:01:06.934 We're also pleased to welcome our 2,200 new colleagues from Schumacher to Monde 00:01:06.934 -- 00:01:11.640 and we look forward to working with them to drive sales and provide our customers with 00:01:11.640 -- 00:01:15.161 an enhanced range of solutions. 00:01:15.664 -- 00:01:20.870 Before handing over to take questions, just a quick point on the tariffs. 00:01:20.870 -- 00:01:25.452 As we said in our statement, the direct impact on ...