Mayr-Melnhof Karton AG Reports Q1-Q3 2024 Results Amid Market Challenges

Mayr-Melnhof Karton AG announced its financial results for the first three quarters of 2024. Notably, the company's Board & Paper division faced challenges due to annual maintenance downtime, while its Packaging divisions maintained consistent performance.

The firm's sales decreased by 4% to EUR 3,068.8 million, with adjusted EBITDA falling 17.6% to EUR 295.7 million. Profit before tax dropped 40.4% to EUR 70.9 million, reflecting a challenging market environment with consumer restraint. Despite significant volume recovery and continued cost savings efforts, profitability was impacted by declining prices and rising costs in areas such as recycling paper and personnel.

Looking forward, Mayr-Melnhof expects stability in its packaging divisions and aims to improve Board & Paper results in the fourth quarter. The company remains focused on enhancing competitiveness through targeted price increases and cost reductions, anticipating improved financial performance by 2025.