Due to the broad geographical sales spectrum and the focus on various consumer goods industries it was possible to maintain capacity utilization at a high level in both divisions despite restrained overall conditions.
About the Mayr-Melnhof Group
The Group’s consolidated sales totaled Euro 1,713.8 million and were thus 5.9 %, or Euro 96 million above the previous year’s value (1-3Q 2015: Euro 1,617.8 million). This rise is primarily due to the acquisition-related higher business volume at MM Packaging.
At Euro 160.2 million, operating profit was 3.6%, or Euro 5.6 million above the comparative value of the previous year (1-3Q 2015: Euro 154.6 million). A significant increase at MM Packaging was contrasted with a decrease at MM Karton. The Group’s operating margin reached 9.3% (1-3Q 2015: 9.6%).
Financial income totaled Euro 2.3 million (1-3Q 2015: Euro 1.4 million), while financial expenses amounted to Euro -4.7 million (1-3Q 2015: Euro -4.7 million).
Profit before tax went up by 6.2% to Euro 155.9 million, after Euro 146.8 million in the first three quarters of the previous year. Income tax expense amounted to Euro 40.4 million (1-3Q 2015: Euro 38.6 million), resulting in an effective Group tax rate of 25.9% (1-3Q 2015: 26.3 %).
Thus, profit for the period rose by 6.7 % to Euro 115.5 million (1-3Q 2015: Euro 108.2 million) and earnings per share from Euro 5.36 to Euro 5.76.
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.