Mayr-Melnhof Group's operating profit down 7.9% in 1H 2017

Fuente:
MM/Fordaq
Vistas:
950
  • text size

The Mayr-Melnhof Group achieved overall high capacity utilization in the first six months of 2017 and was able to maintain the previous year’s level in sales and volume. The Group’s consolidated sales rose slightly from Euro 1,142.2 million to Euro 1,150.3 million. Both divisions contributed to this rise.

At Euro 102.1 million, operating profit was Euro 8.7 million, or 7.9% below the value for the 1H 2016. Thus, the Group's operating margin was at 8.9%, following 9.7% in the first six months of 2016.

Financial income of Euro 1.3 million (1H 2016: Euro 1.6 million) was offset by financial expenses of Euro -2.9 million.

As a result, profit before tax reached Euro 97 million, compared to Euro 108.9 million in the 1H 2016. Income tax expense totaled Euro 25.1 million, following Euro 28.5 million in the first half of the previous year, resulting in an effective Group tax rate of 25.9%. At Euro 71.9 million, the profit for the period was 10.6% below the comparative figure for the previous year (1H 2016: Euro 80.4 million), representing 6.3% of sales.

The Mayr-Melnhof Group is the world-leader in coated recycled cartonboard with a growing position in virgin fiber based board and Europe’s leading manufacturer of folding cartons with a growing presence outside of Europe.

Publica comentario