MM Group results for the first quarter of 2022

In the first quarter of 2022, the MM Group managed to catch up again in terms of margins after cost inflation-related pressure in the previous quarters. This was made possible by the consistent implementation of necessary price increases and continued strong demand in both divisions. The clear surge in growth compared to the first quarter of the previous year is mainly due to the inclusion of the cardboard and paper plants in Poland and Finland acquired at the beginning of August last year, as well as higher price levels. As a result of widely booked capacities and longer delivery times, we focus on the continuous supply of our customers, which we meet with the greatest possible flexibility. Despite increasing challenges in the supply chain, it was possible to continue to utilize capacities almost to the full.

Since the beginning of the 2nd quarter, renewed price adjustments to secure margins have counteracted the continuing increase in raw material, transport and energy costs. Due to the overall economic uncertainties, however, a more detailed assessment for the current year is currently not possible.

The consolidated sales of the Group rose to EUR 1,060.4 million and were thus EUR 419.1 million above the comparative figure for the previous year (Q1 2021: EUR 641.3 million). This growth is mainly due to acquisitions and the passing on of cost increases through higher prices.

At EUR 111.1 million, the operating result was EUR 49.9 million higher than in the previous year (Q1 2021: EUR 61.2 million). The significant increase in the MM Board & Paper division contrasted with a stable development at MM Packaging. The Group’s operating margin thus increased to 10.5% (Q1 2021: 9.6%).
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