Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI
JSE share code: MNP ISIN: GB00BMWC6P49
15 October 2026
Q3 2026 Trading Update
Mondi plc ("Mondi"), a global leader in sustainable packaging and paper, today
provides an update on trading for the three months to 30 September 2026 ("third
quarter" or "Q3 2026").
Underlying EBITDA in the quarter was €196 million, including nil forestry fair
value gain (Q2 2026: €167 million, including a €43 million forestry fair value
loss). Excluding forestry fair value, underlying EBITDA was lower sequentially,
primarily reflecting the impact of planned maintenance shuts. Good order books
supported positive price momentum in the quarter, with higher average selling
prices offsetting input cost inflation.
Input costs were higher than expected as energy-related costs continued to
increase through the quarter, in addition to the anticipated increase in wood
costs in Central and Eastern Europe. In response to these recent increases in
energy-related costs and supported by good order books, further price increases
for a number of paper grades were announced during the quarter, with the benefit
expected towards the end of this year and into 2027.
Corrugated Packaging saw positive pricing momentum in Containerboard offsetting
higher input costs, while competitive pressure and the lag in passing on paper
price increases continued to affect Corrugated Solutions margins. Uncoated Fine
Paper experienced seasonally weaker demand and higher input costs. In Flexible
Packaging, Kraft Paper and Paper Bags delivered positive pricing momentum
offsetting higher input costs. Consumer Solutions delivered a good performance,
supported by resilient order books and pricing actions.
Forestry fair value gain was nil in the third quarter, significantly impacted by
the recent increase in energy prices. Energy prices remain highly volatile and
hard to predict. However, if current prices prevail, and in particular, South
African diesel prices, we expect nil forestry fair value gain in the fourth
quarter.
We remain focused on operational excellence, cost optimisation and improving the
efficiency of our plant network to help mitigate fixed-cost inflation and
strengthen the competitiveness of the business. We continue to make good
progress transferring customer volumes from the converting plants scheduled to
close later this year. As a further step to optimise our converting plant
network, at the end of September, we sold one solid board converting plant and
agreed the sale of a second. We continue to evaluate opportunities to optimise
our asset portfolio and production footprint to enhance competitiveness and
returns.
Andrew King, CEO of Mondi Group, commented:
"We delivered a resilient performance in the third quarter against a backdrop of
rising input costs, with good order books supporting positive price momentum.
We continued to make progress on operational excellence, cost optimisation and
improving the efficiency of our plant network to enhance competitiveness. As we
enter the fourth quarter, higher packaging paper prices are expected to support
performance, notwithstanding ongoing input cost pressures.
"We remain confident in the structural growth drivers underpinning our
sustainable packaging businesses. Supported by our cost-advantaged integrated
asset base, broad portfolio of innovative and sustainable packaging and paper
solutions and commitment to continuous improvement, we remain well positioned to
deliver long-term value for our shareholders."
- END -
+--------------------------------------+---+----+---+---+
|€ million |Q1 |Q2 |Q3 |Q4 |
+--------------------------------------+---+----+---+---+
|2026 Underlying EBITDA |212|167 |196|- |
| | | | | |
|(including forestry fair value) | | | | |
+--------------------------------------+---+----+---+---+
|2026 Forestry fair value gain / (loss)|8 |(43)|0 |- |
+--------------------------------------+---+----+---+---+
|2025 Underlying EBITDA |290|274 |223|214|
| | | | | |
|(including forestry fair value) | | | | |
+--------------------------------------+---+----+---+---+
|2025 Forestry fair value gain |2 |16 |20 |1 |
+--------------------------------------+---+----+---+---+
Enquiries
Investors/analysts:
Fiona Lawrence+44 742 587 8683
Mondi Group: Head of Investor Relations
Media:
Kerry Cooper+44 7881 455 806
Mondi Group: Group Communication Director
Richard Mountain+44 790 968 4466
FTI Consulting
Sponsor in South Africa: J.P. Morgan Equities South Africa (Pty) Ltd
Results call details
Time:
08:30 (BST), 09:30 CET/SAST
Please register for our conference call using this link:
https://storm-virtual-uk.zoom.us/webinar/register/WN_x2hYUWX_QfW_LzuVtW_mzw
Once you are registered, you will receive a calendar invite from Mondi Group
Events.
The meeting invite will include a link to join the call as well as dial in
numbers should you prefer to dial in via your landline or mobile phone.
A recording will be available on our website shortly after the end of the call:
https://www.mondigroup.com/investors/results-reports-and-presentations/
If you have any questions, please contact Fiona Lawrence, Group Head of Investor
Relations:
fiona.lawrence@mondigroup.com
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