Mayr-Melnhof Karton AG (OTCPK:MNHFF)
$ 108.112 0 (0%) Market Cap: 1.65 Bil Enterprise Value: 3.02 Bil PE Ratio: 32.17 PB Ratio: 0.75 GF Score: 78/100
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Q3 2024 Mayr-Melnhof Karton AG Earnings Call Transcript

Nov 7, 2024 / 07:00 AM GMT
Release Date Price: $108.11

Key Points

Positve
  • The food and premium packaging division showed strong performance with an operating margin above 11%, supported by productivity increases, cost reductions, and product innovation.
  • Volumes in the board and paper division were significantly ahead of last year, despite the low overall price level.
  • A comprehensive profit and cash protection program has been launched, focusing on cost reduction measures, particularly in energy savings, procurement, personnel, and operating expenses.
  • Targeted price increases are being implemented, with major impacts anticipated in the next year.
  • The company is focusing on higher value-added products and positioning itself as a market leader in Europe and the US for GLP-1 analogs for weight reduction, which have excellent growth prospects.
Negative
  • Persistent weakness in consumer demand in Europe is affecting overall sales performance.
  • The board and paper division's results were negatively impacted by the costs of annual maintenance shutdowns, with an impact of roughly EUR25 million.
  • Costs for paper, recycling wood, and personnel remain elevated, necessitating higher pricing to reflect these increased costs.
  • The farm and healthcare packaging profits were held back by weak demand due to current stocking in the industry and extra costs from the startup of new machines.
  • CapEx for the year is expected to be substantially below previous guidance, indicating potential constraints on future growth investments.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MMKV.VI - Mayr-Melnhof Karton AG
Q3 2024 Mayr-Melnhof Karton AG Earnings Call
Nov 07, 2024 / 07:00AM GMT

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Corporate Participants
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* Peter Oswald
Mayr-Melnhof Karton AG - Chief Executive Officer

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Questions and Answers
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Unidentified Company Representative [1]
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Welcome, ladies and gentlemen, to the Q&A audio webcast on the Mayr-Melnhof Group interim results for the first three quarters of 2024. I'm delighted to have the company's CEO, Peter Oswald, with me for some first-hand information. Peter, could you please share with us your initial reflections on the Q3 results?

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Peter Oswald, Mayr-Melnhof Karton AG - Chief Executive Officer [2]
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