Toughening packaging markets weighed on Mayr-Melnhof Karton’s (MMK) Q1 17 results, with profitability below (3%-7%) consensus estimates. Although sales were up 1.5% yoy (and 4.6% qoq) to €585m, adjusted EBIT was down (8.3% yoy; 5.4% qoq) to €51m. While Karton division profits (-21% yoy) were impacted by high input costs (especially for recovered paper), the reason for the Packaging division’s 13% qoq decline – not explicitly mentioned – could have been intens
25 May 2017
Soft Q1 results; though the group should withstand the near-term headwinds
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Soft Q1 results; though the group should withstand the near-term headwinds
Mayr-Melnhof Karton AG (MMK:WBO) | 0 0 0.5% | Mkt Cap: 2,492m
- Published:
25 May 2017 -
Author:
Varun Sikka -
Pages:
3
Toughening packaging markets weighed on Mayr-Melnhof Karton’s (MMK) Q1 17 results, with profitability below (3%-7%) consensus estimates. Although sales were up 1.5% yoy (and 4.6% qoq) to €585m, adjusted EBIT was down (8.3% yoy; 5.4% qoq) to €51m. While Karton division profits (-21% yoy) were impacted by high input costs (especially for recovered paper), the reason for the Packaging division’s 13% qoq decline – not explicitly mentioned – could have been intens