Mondi plc (MNODF) Q1 2025 Earnings Call Transcript

2025-05-11 07:39:42 ET

Mondi plc (MNODF)

Q1 2025 Earnings Call

May 8, 2025 03:00 ET

Company Participants

Andrew King - Group Chief Executive Officer

Mike Powell - Chief Financial Officer

Conference Call Participants

Cole Hathorn - Jefferies

Lars Kjellberg - Stifel

Charlie Muir-Sands - BNP Paribas Exane

Patrick Mann - Bank of America

Brian Morgan - RMB M Stanley

Sean Ungerer - Chronux

James Twyman - Prescient Securities

Presentation

Andrew King

Good morning, everyone and thank you for joining us to discuss today’s trading update. I’m Andrew King, your Group CEO. And with me is Mike Powell, our CFO.

I’m sure you’ve all seen the announcement, so I’m just going to pick up on a few points before we’ll welcome any questions. The first quarter of the year was characterized by higher sales volumes, good cost control and fewer planned maintenance shuts. These offset lower average selling prices when compared to the fourth quarter of 2024. Underlying EBITDA for the quarter was reported at €290 million.

Importantly, we continued to make good progress ramping up production at our capacity expansion projects. Our new kraft paper machine at Štetí, which we started up in December last year, is showing excellent results in terms of both quality – paper quality and production volumes. We’re also delighted that our newly converted paper machine at Duino in Italy successfully started up on time and on budget in April. We were also pleased to welcome our 2,200 new colleagues from Schumacher to Mondi, and we look forward to working with them to drive sales and provide our customers with an enhanced range of solutions....

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