Mayr-Melnhof Karton AG Reports Half-Year Results for 2024

Mayr-Melnhof Karton AG (MM) has released its half-year financial results for 2024, showing mixed performance indicators. Q2 results surpassed those of Q2 2023, but overall half-year financials were below the previous year's figures due to pricing pressures.

Key highlights include a marked improvement in cash flow and a strong volume increase in the Board & Paper division. MM has also restructured its Packaging segment into two divisions for greater transparency: MM Food & Premium Packaging and MM Pharma & Healthcare Packaging. While the Packaging segments performed solidly, the overall economy's weakness persisted, impacting consumer spending and market activity.

MM's consolidated sales stood at EUR 2,043.9 million, a 6.3% decrease from the previous year. The adjusted EBITDA was EUR 201.7 million, down by 15%. Despite these declines, the company reported a significant carbon footprint reduction of 23% compared to the first half of 2023.

Looking ahead, MM anticipates continued low market activity due to economic conditions and plans to focus on enhancing earnings and cash generation through its ongoing profit & cash protection programme.