The Mayr-Melnhof Group was able to carry on the improved profitability level of the earlier part of the year with a good third quarter and hence to conclude after three quarters above the previous year. Both divisions reported ongoing high capacity utilization despite increasingly slowing market dynamics.
In the first nine months of 2018, the consolidated sales of the Mayr-Melnhof Group totaled Euro 1,763.1 million and were thus slightly above the previous year’s value (1-3Q 2017: Euro 1,749.1 million).
At Euro 172.3 million, operating profit was 8.4 %, or Euro 13.4 million above the comparative value of the previous year (1-3Q 2017: Euro 158.9 million). A significant profit increase at the cartonboard division contrasted with a decrease at the packaging division. The Group’s operating margin thus climbed to 9.8 %.
Profit before tax at Euro 169 million was 11.3 % above the comparative figure of the previous year (1-3Q 2017: Euro 151.9 million). Income tax expense totaled Euro 42.6 million, resulting in an effective Group tax rate of 25.2 %.
Profit for the period rose accordingly by 11.6 % to Euro 126.4 million (1-3Q 2017: Euro 113.3 million).
The Mayr-Melnhof Group is the world-leader in coated recycled cartonboard with a growing position in virgin fiber based board and Europe’s leading manufacturer of folding cartons with a growing presence outside of Europe.