Mondi plc (MNDI) Q1 2026 Earnings Call

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WEBVTT 00:00:00.875 -- 00:00:05.000 Hello, everyone, and welcome to this Mondi Q1 event. 00:00:05.000 -- 00:00:08.544 Just to let you know, we do have captions on today's call, and these can be switched 00:00:08.544 -- 00:00:13.210 on and off within your Zoom settings, but please be aware they are automated and can 00:00:13.210 -- 00:00:18.496 sometimes contain errors. If you have a Q&A question today, then please use the raise 00:00:18.496 -- 00:00:24.163 hand function on your screen, and you can do this when we go into our Q&A section later. 00:00:24.163 -- 00:00:27.186 I'm now going to hand you over to Andrew King, CEO. 00:00:27.186 -- 00:00:31.129 Andrew, please unmute and go ahead. 00:00:31.587 -- 00:00:34.471 Good morning, everyone, and thank you for joining our call today. 00:00:34.471 -- 00:00:39.517 I'm Andrew King, Group CEO, and with me is Mike Powell, 00:00:39.517 -- 00:00:43.122 our CFO. I'll apologize in advance for the slightly croaky voices. 00:00:43.122 -- 00:00:48.649 It seems like both Mike and I have managed to pick up a change of season sniffles 00:00:48.649 -- 00:00:51.152 that I'm sure we can 00:00:51.152 -- 00:00:53.375 be heard. I'm 00:00:53.375 -- 00:00:57.500 sure you've all seen the announcement today, so I'm just going to pick up a few points 00:00:57.500 -- 00:00:59.143 before 00:00:59.143 -- 00:01:01.703 we go to questions. 00:01:02.300 -- 00:01:07.628 Market conditions in the first quarter of 2026 did remain challenging, underlying EBITDA 00:01:07.628 -- 00:01:11.093 for the quarter of $212 million, 00:01:11.093 -- 00:01:15.296 broadly in line with the fourth quarter of 2025. 00:01:16.681 -- 00:01:21.287 On a sequential basis, sales volumes increased across a range of paper grades. 00:01:21.287 -- 00:01:24.932 There was also no planned...