Consolidated net sales of $913 million in the second quarter of 2018 increased by $90 million, or 11 percent, compared to $823 million for the 2017 second quarter. The increase in net sales is primarily due to higher prices and higher sales volume. The Company sold 743,000 tons of paper during the second quarter of 2018 compared to 699,000 tons a year earlier. The Company's average mill selling price of $736 per ton in the second quarter of 2018 increased by $75 per ton, or about 11 percent, compared to the second quarter of 2017 due to higher prices for most products and a favorable product mix. Mill selling prices increased by $17 per ton, or 2 percent, compared to the first quarter of 2018. Net income of $53 million for the 2018 second quarter increased by $33 million, or 169 percent, compared to the 2017 second quarter. Click Read More below for additional information.
The Supervisory Board of Mayr-Melnhof Karton AG has appointed Peter Oswald (57) as new Chairman of the Management Board and CEO of the company with a contract for a period of five years. Peter Oswald will become member of the Management Board as of 01 April 2020.
Wilhelm Hörmanseder (65), CEO of Mayr-Melnhof Karton AG for the past 18 years will hand over to Peter Oswald on 01 May 2020 after 30 years with the MM Group and 25 years thereof on the Management Board.
Under the management of Wilhelm Hörmanseder, the MM Group demonstrated sustained earnings growth and a solid expansion path in Europe as well as globally holding today numerous excellent positions in several attractive markets as market leader in cartonboard packaging with high competitive strength.
Peter Oswald, born in Upper Austria, brings 28 years sector experience to the MM Management Board. Since 2017 he has been CEO of the stock-listed packaging and paper company Mondi Group, which he joined in 1992. Contributing significantly to the company development, he became CEO of Mondi Packaging in 2002 and CEO of Mondi Europe & International in 2008. Peter Oswald completed university studies in law and business administration.
Rainer Zellner, chairman of the Supervisory Board, on the appointment of the new CEO: „With his international industry expertise and his long-term management experience Peter Oswald is for us the ideal person to take over as CEO of Mayr-Melnhof Karton AG.“