Mondi announces its results! Today, Mondi, a big company that makes sustainable packaging and paper, shared its results for the year ending on December 31, 2023. They only talked about the parts of the company that are still running, unless they said otherwise.
Here are the important points Mondi announces:
- Mondi did well, even though their earnings before interest, taxes, depreciation, and
- amortization (EBITDA) went down to €1,201 million from €1,848 million in 2022. Their profit margin also decreased to 16.4% from 20.8%.
- They made a lot of cash, with €1,312 million from their operations, which is more than the €1,292 million they made last year.
- Their overall revenue was €7,330 million, down from €8,902 million in 2022.
- Each share’s earnings went down to 107.8 euro cents from 195.6 euro cents.
- Their return on capital employed (ROCE) went down to 12.8% from 23.7% in 2022.
Other important things to note:
- They have a strong balance sheet, with their debt compared to their earnings (EBITDA) being very low at 0.3 times. After some adjustments, it’s at 1.0 times.
- They’re doing well with their plans to invest €1.2 billion in growing their business.
- They’re also working on being more sustainable with their Mondi Action Plan 2030 (MAP2030).
- They’re suggesting giving out a dividend of 70.0 euros per share for the whole year.
- They finished selling their stuff in Russia, and they gave out extra money to shareholders and made some changes to their shares on January 29, 2024.
The CEO of Mondi, Andrew King, said, “Mondi did well in 2023 because we served our customers well, had a good setup, and offered a wide range of products to many different markets. Even though our earnings were lower than last year, we still made a lot of cash. This means we can keep investing in our business and stay confident about growing in the future. Our projects to grow are going as planned, and we think they’ll start making more money for us in 2025.”
He also said that prices for what they sell are lower than last year, but they’re getting more orders and raising prices to make up for it. The costs of what they need to make their products are still high, but they’re not going up anymore like they were before.
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