Mondi slips into the red in 2023 and announces price increases
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The year 2023 was characterised by a difficult market environment, and packaging and fine paper manufacturer Mondi was unable to escape the negative impact on its business.
Demand declined in the packaging sector, partly due to extremely high stock levels throughout the supply chain, which prevented new purchases. This effect levelled off over the course of the year, Mondi said. Overall, however, less paper and packaging was sold and prices also fell.
As a result, Mondi slipped into the red in 2023. The company closed the financial year with a net loss of €134 million. In 2022, the company had still generated € 1.5 billion. The operating result halved to €763 million and EBITDA also fell by 44% to €1.2 billion. At €7.3 billion, Mondi also generated 18% less revenue than in the previous year. Nevertheless, the company spoke of a robust performance and considers itself to be in a good financial position.
The packaging and paper producer is optimistic for 2024. Incoming orders are improving and price increases are currently being announced. These have already been implemented for fine papers, it said. Higher prices for kraft paper are to follow from the second quarter and price increases have also been announced for corrugated base paper.
