The paper manufacturer Mondi published its annual report for 2021 on 3 March. According to the report, the company was able to increase its total profit by 28 per cent to 983 million euros in the past year.
The Company based in Great Britain and Austria achieved, according to the report a total turnover of 7.723 billion euros, which corresponds to an increase of 16 per cent on the previous year's result. Profit before tax, in turn, amounted to 983 million euros, an increase of a remarkable 28 per cent.
The company believes it is well on the way to achieving its self-imposed Mondi Action Plan 2030, with which it aims to initiate increasingly sustainable production. The intention is still to be able to ensure CO2-neutral production by 2050 at the latest.
„Mondi delivered a strong performance in 2021 and we see good opportunities to accelerate growth in sustainable packaging. Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of 1,503 million euros increased by eleven percent and return on capital employed (ROCE) rose to 16.9 percent. We were able to expand our packaging business and saw a recovery in the markets for uncoated fine paper. Our vertical integration, the agility of our activities and the collaboration with our customers ensured that we were able to meet the growing demand at a time when supply chains were under pressure worldwide. We have implemented price increases in all business areas and demonstrated good cost control against the backdrop of rising raw material costs. Our focus on safety and protecting the wellbeing of our employees remains our priority,“ says Andrew King, Mondi Group Chief Executive Officer.
Source: Mondi
