Get to know your JSE companies: MONDI PLC (JSE: MNP)

Mondi released its financial results for 1H2020 during August 2020. Group revenue was down to €3.45  billion (1H2019: €3.77 billion), and operating profit declined to €518 million (1H2019: €679 million). Underlying EBITDA of €738 million for the half-year ended 30 June 2020, was down 17% compared to the first half of 2019, and down 3% compared to the second half of 2019. Basic earnings per share contracted by 25% to 72 euro cents (1H2019: 95.8 euro cents).

On 5 January 2021, Mondi released a statement regarding its acquisition of Olmuksan, a Turkish corrugated packaging player. Mondi has agreed to acquire 90.38% of the outstanding shares in Olmuksan from International Paper for a total consideration of €66 million.

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