MM Group result 2022

*Sales EUR 4.7 billion (+53%)
*Operating result EUR 510 million (+89%)
*Net income EUR 345 million (+81%)
*Solid financing: net debt/EBITDA 2.0
*Dividend proposal: EUR 4.20/share (+20%)
*Weak order situation in the first quarter of 2023

Peter Oswald, MM CEO: “In the 2022 financial year, the MM Group grew significantly both organically and through acquisitions in terms of earnings and sales in a macroeconomically and geopolitically challenging environment. Demand for our natural, recyclable packaging products made from renewable raw materials was dynamic for much of the year and customers value our investments in competitive locations, innovation and sustainability. The energy and raw materials crisis presented MM with special challenges that were successfully overcome overall. Selling price adjustments compensated for the massive increases in energy and raw material costs. In addition, we succeeded in ensuring the continuous supply of our customers despite unstable supply chains.

The acquisitions of Essentra Packaging and Eson Pac, completed in 2022, position MM as a global player in pharmaceutical secondary packaging and contribute to increased resilience and growth across the company. Together with the two acquisitions of the previous year in the Board & Paper division, MM Kwidzyn and MM Kotkamills, they are part of the transformation of MM to increase the added value and growth potential of the MM Group through acquisitions and operational optimization.

Income Statement
The consolidated sales of the Group reached EUR 4,682.1 million and were thus 52.5% or EUR 1,612.4 million above the previous year’s figure (2021: EUR 3,069.7 million).

At EUR 510.3 million, an operating result of EUR 240.7 million above the previous year (2021: EUR 269.6 million) was achieved.

Financial income amounted to EUR 4.3 million (2021: EUR 3.3 million). The increase in financial expenses from EUR -24.4 million to EUR -32.1 million is mainly due to the raising of promissory note loans and registered bonds in the previous year to finance acquisitions and organic growth projects.

The net income for the year thus increased by EUR 154.5 million to EUR 345.2 million (2021: EUR 190.7 million).
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