Yahoo Finance

• EBITDA: 1,049 million for 2024, impacted by a reduction in forestry fair value gain and a one-off currency loss.

• Net Debt: 1.7 billion at the end of 2024, with a leverage of 1.7 times.

• Dividend: Full year dividend held at 70 cents per share.

• Sales Volumes: Increased compared to the prior year, particularly in flexible packaging.

• Sales Prices: Lower on average in 2024 compared to 2023.

• Cost Reduction: Overall costs were 254 million lower in 2024 than in 2023.

• Capital Expenditure: Over 900 million invested in 2024.

• Return on Capital: Affected by significant reduction in forestry fair value gain.

• Forestry Fair Value Gain: 7 million in 2024, down from 128 million in 2023.

• Currency Loss: 32 million one-off loss from Egyptian pound devaluation.

• Corrugated Packaging: Year-on-year improvement in profitability with steady improvement in container board prices.

• Flexible Packaging: Good volume gains across all product categories, offset by lower selling prices.

• Uncoated Fine Paper: Improved performance excluding forestry fair value gains, with volume gains and cost control.

• Warning! GuruFocus has detected 5 Warning Signs with MNODF.

Release Date: February 20, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Mondi PLC (MNODF) has a strong market leadership position in flexible packaging, being the global number one in the craft paper and bags value chain.

• The company has completed significant strategic acquisitions, such as the Hinton pulp mill in Canada and Schumacher's packaging assets in Western Europe, enhancing its geographic and operational footprint.

• Mondi PLC (MNODF) has a well-invested and integrated asset base, consistently investing through cycles to ensure assets are appropriately positioned for market demands.

• The company has a strong track record of delivering complex capital expenditure projects on time and within budget, which supports its growth strategy.

• Despite difficult trading conditions, Mondi PLC (MNODF) delivered a resilient performance in 2024 with stable profitability, excluding one-off effects.

Negative Points

• Mondi PLC (MNODF) faced weak demand and a generally weak pricing environment throughout 2024, impacting overall performance.

• The company experienced a significant reduction in forestry fair value gain and a one-off loss due to the Egyptian currency devaluation, affecting EBITDA and earnings per share.

• Sales prices in 2024 were on average lower than in 2023, particularly impacting the flexible packaging segment.

• The recycled container board market is expected to be in oversupply in the short term, posing challenges for price recovery and industry margins.

• Mondi PLC (MNODF) faces fixed cost increases, primarily due to the inclusion of Hinton's cost base and salary inflation, which could pressure profitability.