DGAP-News: Mayr-Melnhof Karton AG: Annual Results 2012
(firmenpresse) - DGAP-News: Mayr-Melnhof Karton AG / Key word(s): Final Results
Mayr-Melnhof Karton AG: Annual Results 2012
14.03.2013 / 08:00
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- Continuation of long-time path of success
- Profit for the year with EUR 119.5 million on a new high
- Dividend increase from EUR 2.10 to EUR 2.25 / share
In 2012 the Mayr-Melnhof Group was able to continue its successful
performance of previous years with a further increase in the profit for the
year. Both divisions, MM Karton and MM Packaging, made a substantial
contribution to this. By focusing on the highly efficient production of
consumer goods, we have been able to maintain long-term profitability in a
period of continuing economic slowdown and despite non-recurring expenses
related to the closure of a plant. Although customers have been planning
with increasing caution, we have ensured that the capacity utilization for
our plant and equipment remained at a high level by being very flexible.
Focusing on the future, we have invested in projects for the reduction of
direct costs and further growth. The strategic expansion into future growth
markets outside of Europe was taken into account with an acquisition in
Colombia, where we are now the market leader. In Europe we succeeded in
securing our leading position and selectively expanding our market share.
Due to the positive results, it is intended to increase the dividend per
share from EUR 2.10 to EUR 2.25.
GROUP KEY INDICATORS - IFRS
in millions of EUR 2012 2011 +/-
Sales 1,952.2 1,959.6 -0.4%
Operating Profit 166.1 170.9 -2.8%
Operating margin (in %) 8.5% 8.7%
Profit before tax 160.2 161.8 -1.0%
Income tax expense (40.7) (43.1)
Profit for the year 119.5 118.7 +0.7%
Earnings per share (in EUR) 5.96 5.91
At EUR 1,952.2 million the Group's consolidated sales almost reached the
previous year's record level (2011: EUR 1,959.6 million).
Operating profit was at EUR 166.1 million, by 2.8 % or EUR 4.8 million
lower than in the previous year (2011: EUR 170.9 million), whereby
non-recurring expenses in the net amount of around EUR 9.0 million related
to the closure of the packaging plant in Liverpool, England, had to be
accounted for. However, at 8.5 % the Group's operating margin almost
reached the previous year's level (2011: 8.7 %). The Return on Capital
Employed amounted to 17.1 % (2011: 18.6 %).
Due to the fall in interest rates, financial income decreased from EUR 4.4
million to EUR 2.6 million and financial expenses from EUR -6.4 million to
EUR -5.2 million. Other financial result - net went down from EUR -7.1
million to EUR -3.3 million, in particular due to the valuation and
exercising of the respective option liabilities.
The profit before tax reached EUR 160.2 million and therefore was close to
the previous year's level (2011: EUR 161.8 million).
Income taxes totalled EUR 40.7 million (2011: EUR 43.1 million), resulting
in an effective Group tax rate of 25.4 % (2011: 26.6 %).
Thus a profit for the year of EUR 119.5 million slightly above the previous
year's figure (2011: EUR 118.7 million) was achieved, whereby the net
profit margin remained unchanged at 6.1 %.
OUTLOOK
Although there are indications that the economic decline in the Eurozone is
currently slowing down, there are no signs of impulses for private
consumption and therefore demand for cartonboard and folding cartons. In
fact, the increasingly tense situation in the labor market and the weak
development in household income will result in further restraint. For our
business this means consolidation in Europe with continued intense price
competition and volatile short-term planning by our customers.
On the cost side there have been no signs of any lasting relief so far.
Recovered paper prices will continue on their flat trend for the moment,
while input factors driven by the crude oil price will remain on a high
level. Only by increasing volumes, raising efficiency and improving the
sales mix, we will be able to maintain our profit level. This is still the
focus of our investment programs. We will continue to concentrate on
expanding into future markets, in a vigorous way as well as with the
necessary caution.
The press release is available on the internet under www.mayr-melnhof.com.
The Annual Report 2012 will be available on April 3, 2013.
Forthcoming Results:
May 15, 2013 Results for the first quarter of 2013
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(at)mm-karton.com,
Website: http://www.mayr-melnhof.com
End of Corporate News
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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(at)mm-karton.com
Internet: www.mayr-melnhof.com
ISIN: AT0000938204
WKN: 93820
Indices: ATX
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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203866 14.03.2013
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