Mondi's 2018 revenue of Euro 7,481 million was up 5% on the prior year. Excluding the impact of acquisitions and divestitures, revenue was up 4%, mainly due to higher average selling prices achieved across all its businesses, as the company said in the press release received by Lesprom Network.
Underlying EBITDA of Euro 1,764 million was up 19% on the prior year, with strong contributions from Fibre Packaging and Uncoated Fine Paper. A combination of higher selling prices, strong operational performance, the contribution from acquisitions and the benefits of its ongoing cost reduction initiatives more than offset higher variable and fixed costs and negative currency effects.
Underlying operating profit of Euro 1,318 million was up 28% on the prior year. After taking into consideration the impact of special items of Euro 126 million, operating profit of Euro 1,192 million was up 23%.
Peter Oswald, Mondi Group CEO, said: "Mondi delivered a strong performance in 2018, with underlying EBITDA up 19% to Euro 1,764 million. We benefited from good demand across our fibre packaging businesses, higher average selling prices and the contribution from our recent acquisitions. I am particularly pleased to report on a robust operating performance, delivering productivity gains and strong cost containment, mitigating the inflationary pressures on our cost base.”
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative and sustainable packaging and paper solutions.
