Mayr-Melnhof Karton AG (MM) has published its half-year figures for 2025 and reported a clear increase in earnings.
While the market situation remains difficult due to weak demand and overcapacity in Europe, the Group was able to increase its adjusted operating result by just under 29 % to 116.7 million euros. This was mainly due to the Board & Paper division, which benefited from cost savings.
With the sale of the Tann Group In June, MM generated non-recurring income of around EUR 127 million, causing the profit for the period to soar to EUR 164.3 million (previous year: EUR 37.4 million). Sales remained almost stable at EUR 2.03 billion.
New „Fit for Future“ programme launched
In view of the persistently weak market, MM has launched a Group-wide efficiency and transformation programme. The aim is to achieve a structural and sustainable improvement in earnings of more than EUR 150 million by 2027 compared to 2024 (excl. Tann).
Development in the divisions
- Food & Premium Packaging: Sales fell slightly to 813.3 million euros, while the adjusted operating result remained stable at 83.0 million euros. With a margin of 10.2 %, the division remains profitable.
- Pharma & Healthcare Packaging: Revenue was almost on a par with the previous year at 320.8 million euros. The operating result decreased slightly to 18.9 million euros, while the margin remained at 5.9 %.
- Board & Paper: sales increase to 1.0 billion euros, adjusted earnings now at +14.8 million euros after -11.1 million euros in the previous year. Production output increased by 1.5 % to 1.63 million tonnes.
Outlook
For the second half of the year, MM anticipates negative effects from maintenance downtime at the pulp mills in Poland and Finland as well as the full deconsolidation of the Tann Group. Investments are expected to remain below EUR 250 million in 2025.
Source: Mayr-Melnhof
