Mayr-Melnhof Karton AG (XTER:MYM)
€ 72 1 (1.41%) Market Cap: 1.54 Bil Enterprise Value: 2.83 Bil PE Ratio: 30.00 PB Ratio: 0.70 GF Score: 74/100
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Half Year 2024 Mayr-Melnhof Karton AG Earnings Call Transcript

Aug 22, 2024 / 08:00AM GMT
Release Date Price: €104.4 (-0.19%)
Peter Oswald
Mayr Melnhof Karton AG - Chairman of the Management Board, Chief Executive Officer

Welcome to this announcement of our '24 half year results. I am pleased that our adjusted operating profit in Q2 is up compared to last year and also compared to the previous two quarters as board and paper returned to a positive operating profit in Q2. This success is a result of the excellent execution of our profit and cash protection program even though the majority of its benefits will only be seen in full in '25.

With regards to the first half year results were still lower than in the previous year, due to lower average sport and paper prices. However, first half year operating cash flow and free cash flow were significantly up. And this is what our focus is upon.

In the board and paper division, we saw an improvement in market demand following the reduction of high inventories in the supply chain. Also, our improved products after the machine rebuilds were well received by our customers. And this resulted in a significant increase in sales volume by around 18%.

Despite

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