PR Newswire
LONDON, United Kingdom, April 24
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI
JSE share code: MNP ISIN: GB00BMWC6P49
24 April 2026
Q1 2026 Trading Update
Mondi plc («Mondi»), a global leader in sustainable packaging and paper, today
provides an update on trading for the three months to 31 March 2026 («first
quarter» or «Q1 2026»).
Market conditions in the first quarter of 2026 remained challenging resulting in
an underlying EBITDA of €212 million, including €8 million of forestry fair
value gain(Q4 2025 €214 million, including €1 million of forestry fair value
gain).
On a sequential basis, our Corrugated Packaging and Flexible Packaging business
units increased sales volumes across our range of paper grades. This was
supported by recent capacity expansions, as well as our exposure to diversified
geographies, end markets and products. There were also no planned maintenance
shuts in the quarter. The increase in volumes was offset by lower average
selling prices and, towards the end of the quarter, higher energy-related input
costs. In the converting operations, performance of our Corrugated Solutions and
Paper Bags businesses was impacted by margin pressure, while Consumer Flexibles
delivered a broadly stable performance, supported by resilient end-markets.
Significantly heightened geopolitical tensions in the Middle East further
increased volatility in an already complex operating environment. We have a
limited direct exposure to the region and all operations continue to run safely,
with the wellbeing of our colleagues remaining our highest priority. Across the
business, we have however experienced increased energy, raw material and
logistics costs. We are actively responding with pricing actions. While there is
a customary lag, we expect the impact of these price increases to take full
effect in the third quarter of this year.
Following a recent reduction in wood prices in South Africa, and assuming the
market environment does not change significantly for the remainder of the year,
the full-year forestry fair value gain for 2026 is expected to be nil.
We continue to take targeted actions to strengthen our competitive advantage.
Operational excellence programmes, rigorous cost control and margin management
remain central to our approach. In April, we announced the closure of a further
three converting plants comprising a Consumer Flexibles plant in Hungary and
Corrugated Solutions plants in Poland and Germany. Together these closures will
reduce headcount by 450 over the course of this year. This brings the total
number of recently announced plant closures to six, with customers transferring
to alternative plants in our network.
Cash flow optimisation remains a priority, supported by disciplined control of
capital expenditure and rigorous working capital management.
Andrew King, CEO Mondi Group commented:
«Against a backdrop of challenging market conditions, sales volumes increased,
although lower selling prices and latterly, cost pressures linked to escalating
geopolitical tensions, weighed on underlying EBITDA.
«These pressures persist into the second quarter and we are taking pricing
actions to mitigate their impact. While there is an inherent time lag, we expect
these measures to take full effect in the third quarter.
«Despite the uncertain outlook, we continue to focus on what we can control –
driving operational excellence, rigorous cost and margin discipline, optimising
our production footprint and focused cashflow management. These actions underpin
our confidence in our ability to navigate the current headwinds and continue to
deliver our high-quality range of sustainable packaging and paper products for
our customers.»
– END –
+——————————-+—+—+—+—+
|€ million |Q1 |Q2 |Q3 |Q4 |
+——————————-+—+—+—+—+
|2026 Underlying EBITDA |212|- |- |- |
| | | | | |
|(including forestry fair value)| | | | |
+——————————-+—+—+—+—+
|2026 Forestry fair value gain |8 | | | |
+——————————-+—+—+—+—+
|2025 Underlying EBITDA |290|274|223|214|
| | | | | |
|(including forestry fair value)| | | | |
+——————————-+—+—+—+—+
|2025 Forestry fair value gain |2 |16 |20 |1 |
+——————————-+—+—+—+—+
Enquiries
Investors/analysts:
Fiona Lawrence+44 742 587 8683
Mondi Group: Head of Investor Relations
Media:
Kerry Cooper+44 7881 455 806
Mondi Group: Group Communication Director
Richard Mountain+44 790 968 4466
FTI Consulting
Results call details
A call will be held today at 08:00 (BST), 9:00 (CET/SAST).
Event registration link:
https://storm-virtual-uk.zoom.us/webinar/register/WN_G1vQhA90Svq1o7KEyOrRzg
Once registered, you will receive a confirmation email from `Mondi Group Events’
with the webinar link and ID.
A replay will be available on our website within a couple hours after the end of
the live results call at: https://www.mondigroup.com/investors/results
-reports-and-presentations/
For any queries, please e-mail [email protected]
Editor’s notes
Mondi is a global leader in packaging and paper, contributing to a better world
by producing products that are sustainable by design. We employ 24,000 people in
more than 30 countries and operate an integrated business with expertise
spanning the entire value chain, enabling us to offer our customers a broad
range of innovative solutions for consumer and industrial end-use applications.
Sustainability is at the centre of our strategy, with our ambitious commitments
to 2030 focused on circular driven solutions, created by empowered people,
taking action on climate.
In 2025, Mondi had revenues of €7.7 billion and underlying EBITDA of €1.0
billion. Mondi is listed on the London Stock Exchange in the ESCC category
(MNDI), where the Group is a FTSE100 constituent. It also has a secondary
listing on the JSE Limited (MNP).
mondigroup.com
Sponsor in South Africa: J.P. Morgan Equities South Africa (Pty) Ltd
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