Mayr-Melnhof Karton AG
Mayr-Melnhof Karton AG: Results for the 1st Quarter of 2015
DGAP-News: Mayr-Melnhof Karton AG / Key word(s): Quarter Results 2015-05-19 / 08:00 --------------------------------------------------------------------- * Good first quarter * High capacity utilization * Notable profit increase at MM Packaging * MM Karton maintains a high level The Mayr-Melnhof Group started the business year 2015 with a good first quarter. High capacity utilization and productivity increases contributed significantly to the profit growth of the Group compared to the previous year's period. Improved performance of the packaging plants had a major part in this, while MM Karton was able to maintain the solid earnings level of the previous year. However, a sustainable economic upturn cannot be inferred from this as the slight increase in incoming orders at the beginning of the year has now returned to the usual seasonal level due to a lack of further impulses. Nevertheless, we keep our goal to grow further with high profitability also in 2015. GROUP KEY INDICATORS - IFRS in millions of EUR 1Q/2015 1Q/2014 +/- Sales 533.9 523.9 +1.9 % Operating Profit 50.8 46.2 +10.0 % Operating margin (in %) 9.5 % 8.8 % Profit before tax 47.6 43.3 +9.9 % Income tax expense (12.1) (11.2) Profit for the period 35.5 32.1 +10.6 % Earnings per share (in EUR) 1.77 1.59 The Group's consolidated sales went up to EUR 533.9 million and thus were 1.9 % above the comparative figure of the previous year (1Q 2014: EUR 523.9 million). This rise is mainly the result of increased business volume in the packaging division. Operating profit rose by 10.0 % or EUR 4.6 million to EUR 50.8 million. This growth is primari-ly attributable to the overall improved performance of the MM Packaging plants. Accordingly, the Group's operating margin reached 9.5 %, following 8.8 % in the first three months of the previous year. Financial income of EUR 0.4 million (1Q 2014: EUR 0.4 million) was offset by financial ex-penses of EUR -1.6 million (1Q 2014: EUR -1.3 million). Profit before tax thus rose by 9.9 % to EUR 47.6 million (1Q 2014: EUR 43.3 million). Income tax expense totaled EUR 12.1 million (1Q 2014: EUR 11.2 million), resulting in an effective Group tax rate of 25.4 % (1Q 2014: 25.9 %). Profit for the period therefore increased by 10.6 % to EUR 35.5 million (1Q 2014: EUR 32.1 million). This corresponds to 6.6 % of sales (1Q 2014: 6.1 %). OUTLOOK Impulses for demand from the overall economy for our industry cannot be determined. Therefore incoming orders reached the usual seasonal level again after a slight upturn at the beginning of the year. The current order backlog further enables a solid performance in both divisions. The strong profit development in the first quarter is a challenge for the subsequent quarters. Intense competition requires all efforts to be continually concentrated. However, maximum efficiency in production, optimum price level and continued long-term expansion should allow further progress at a high level of profitability. As in the past, organic and acquisition growth will complement each other. Please find the detailed Press Release and the Interim Report for the 1st Quarter of 2015 on our website http://www.mayr-melnhof.com. Forthcoming Results: August 18, 2015 Half-Year Results 2015 For further information, please contact: Stephan Sweerts-Sporck Investor Relations Mayr-Melnhof Karton AG Brahmsplatz 6 A-1041 Vienna Tel.: +43 1 501 36-91180 Fax: +43 1 501 36-191195 E-Mail: investor.relations@mm-karton.com Website: http://www.mayr-melnhof.com --------------------------------------------------------------------- 2015-05-19 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Mayr-Melnhof Karton AG Brahmsplatz 6 1040 Wien Austria Phone: 0043 1 501 36 91180 Fax: 0043 1 501 36 91391 E-mail: investor.relations@mm-karton.com Internet: www.mayr-melnhof.com ISIN: AT0000938204 WKN: 93820 Indices: ATX Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart; Open Market in Frankfurt ; Wien (Amtlicher Handel / Official Market) End of News DGAP News-Service --------------------------------------------------------------------- 358993 2015-05-19
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