The Mayr-Melnhof Group reports results for the first quarter of 2021

The Group’s consolidated sales amounted to EUR 641.3 million in the first three months of 2021 and thus almost reached the previous year’s level (Q1 2020: EUR 646.6 million).

At EUR 61.2 million, the operating result was 5.2% or EUR 3.4 million below the previous year’s figure (Q1 2020: EUR 64.6 million). An increase in the packaging division was offset by a decline in the cartonboard division. The previous year included one-time expenses of EUR -8.6 million, which were divided equally between the two divisions. The Group’s operating margin was 9.6% (Q1 2020: 10.0%).

Financial income of EUR 0.5 million (Q1 2020: EUR 0.4 million) was offset by financial expenses of EUR -3.6 million (Q1 2020: EUR -2.1 million). The “other financial result – net” was EUR 0.5 million (Q1 2020: EUR -0.1 million).

Earnings before taxes were therefore 6.7% below the previous year’s figure at EUR 58.6 million (Q1 2020: EUR 62.8 million). Income taxes amounted to EUR 14.7 million (Q1 2020: EUR 17.7 million), resulting in an effective Group tax rate of 25.2% (Q1 2020: 28.2%).

The profit for the period fell slightly from EUR 45.1 million to EUR 43.9 million.
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