New data Austria’s Mayr-Melnhof has announced that, in the first three months of this year, the business reported some €1.025 billion in consolidated sales. This represented a decrease of about 8.7 percent compared with the first quarter of 2023.
Peter Oswald, the firm’s CEO, commented in a statement that the “MM Group recorded a decline in both Group sales and adjusted operating profit in the first quarter of 2024 compared to the previous year’s value, due to the earnings performance in the Board & Paper division.”
“The destocking in the supply chain has been largely completed, leading to a significant recovery of volumes sold in Board & Paper. However, pressure on margins continued as expected, as price increases will only compensate for the recent rise in production costs from the second quarter onwards. In contrast, the Packaging division recorded a slight increase in results compared to the previous year, even though the margin was below the strong level of the 3rd and 4th quarter of 2023,” he said.