Mondi plc (MNDI) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and welcome to this MomD half-year results for 2026. Captions are enabled on Zoom, however these are automatic and can sometimes contain errors. If you would like to ask a question as part of our Q&A later, you can use the raised hand function and we will invite you through to ask your question in person. I will now hand over to Andrew King, CEO. Good morning, everyone, and welcome to Monday's 2026 half year results presentation. I'm Andrew King, your group CEO, and I'm joined this morning by our CFO, Mike Powell. I'll begin with some key messages from the period under review and then Mike will take you through the financial performance in more detail. I'll return to provide an update on the performance of our business units and discuss some of the current market dynamics before taking you through various of the actions we are taking to strengthen our competitive advantage in what remains a volatile market backdrop. After that, Mike and I look forward to taking your questions. In the first half of 2026 we delivered underlying EBITDA of 379 million euros down on the prior year due mainly to margin pressure from lower average selling prices and higher input costs. We were able to partially mitigate these pressures through higher sales volumes, strong cost control and proactive pricing actions through the period. We remain focused on taking decisive action on those areas we can control. Tight control of working capital mitigated the fall in earnings, allowing us to generate cash from operations of 347 million in the period, while lower capital expenditure also contributed to a stable net debt position. We continue to take actions on cost, operational excellence and portfolio optimization while ensuring we are well positioned to serve our customers with ou...