The Mayr-Melnhof Group was able to close the financial year 2020 with a solid volume and cash flow development despite challenging general conditions. The concentration of the business portfolio on cartonboard and cartonboard packaging for consumer staples allowed for a certain resilience.
Consolidated sales of the Group reached Euro 2,528.4 million and were thus close to the previous year's level (2019: Euro 2,544.4 million). A volume-related increase in sales in the packaging division was offset by a price-related decline in the cartonboard division.
EBITDA rose by 2.4%, or Euro 9.3 million to Euro 398.9 million, the EBITDA margin to 15.8%. At Euro 231.4 million, the operating profit was 9.4% below the previous year.
Accordingly, profit before tax of Euro 222.1 million was 11.6% lower than in the previous year (2019: Euro 251.1 million). Income tax expense amounted to Euro 59.8 million, resulting in an effective Group tax rate of 27%.
Profit for the year amounted to Euro 162.2 million, compared to Euro 190.2 million in 2019.
The Mayr-Melnhof Group is Europe’s largest producer of cartonboard and folding cartons.
