Mayr-Melnhof presents half year results 2016
Demand on the European folding carton market during the first six months of 2016 was restrained and without any drive. This is not due to any single development but was an overall picture seen throughout countries and sectors. Even core markets such as Germany were affected, causing a subdued situation.
The production capacities installed on the European market result in a price competition of ever increasing intensity. By consistently focusing our efforts on our customers from a wide range of sectors and countries as well as continuous increase in production efficiency, MM Packaging succeeded in achieving a generally solid performance throughout the first half of this year.
A major contribution to the growth in sales was the recent acquisition in France, which has been part of the division since the end of October 2015.
Accordingly, sales showed an increase of 12.2 % to EUR 671.3 million (1st half of 2015: EUR 598.2 million). Supported by a good product mix in the second quarter, operating profit rose disproportionately by 29.0 % to EUR 71.7 million in the first half-year of 2016 (1st half of 2015: EUR 55.6 million). The operating margin was thus 10.7 % after 9.3 % in the first half of the previous year.
Tonnage processed went up by 6.1 % from 358,000 tons to 380,000 tons, the sheet equivalent by 12.7 % from 1,001.3 million to 1,128.0 million.