Mayr-Melnhof expects increasing pressure on margins

摘要

Mayr-Melnhof posted higher sales and earnings for the first half of 2016. Key figures of the group's board division (MM Karton) matched last year's good results for the corresponding period, the Austrian group reports. Mayr-Melnhof's packaging division (MM Packaging) saw robust growth in revenue and generated the growth expected following the acquisition of French carton producer lleos. In view of the persistent lack of sustainable stimulus to demand in the face of adequate capacity on the markets, Mayr-Melnhof, expects that pressure on margins will increase. Consolidated group sales for the first six months of 2016 increased by nearly 7% to €1.14bn. Operating profit increased by 15% to €111 m. Marked increase in earnings of MM Packaging contrasted with receding earnings of the board division. Earnings before taxes increased by 20% to €109m while the net profits increased year-on-year by 20% to €80m.