MONDI PLC Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI ISIN: GB00B1CRLC47
JSE share code: MNP
11 December 2019
Mondi Group: restated segmental information
As previously announced, the Group reorganised its business units to strengthen value chain integration and improve customer focus effective from 7 October 2019. The Group's four business units (previously three business units) are as follows:
• Corrugated Packaging, comprising the operations of containerboard and corrugated solutions;
• Flexible Packaging, comprising kraft paper, paper bags and consumer flexibles operations;
• Engineered Materials, comprising personal care components, extrusion solutions and release liner operations; and
• Uncoated Fine Paper, which remains unchanged.
Prior year figures have been restated to reflect the new organisational structure and are set out below. The reorganisation has no impact on the overall Group result.
Six months ended 30 June 2019 (restated)
| € million, unless otherwise stated | Corrugated Packaging | Flexible Packaging | Engineered Materials | Uncoated Fine Paper | Corporate | Intersegment elimination | Total |
| Segment revenue | 1,045 | 1,394 | 518 | 913 | — | (99) | 3,771 |
| Internal revenue | (15) | (36) | (24) | (24) | — | 99 | — |
| External revenue | 1,030 | 1,358 | 494 | 889 | — | — | 3,771 |
| Underlying EBITDA | 297 | 304 | 56 | 254 | (17) | — | 894 |
| Depreciation and impairments | (59) | (69) | (14) | (59) | — | — | (201) |
| Amortisation | (3) | (6) | (4) | (1) | — | — | (14) |
| Underlying operating profit/(loss) | 235 | 229 | 38 | 194 | (17) | — | 679 |
| Special items | — | — | — | — | (2) | — | (2) |
| Operating segment assets | 2,291 | 3,083 | 780 | 2,024 | 4 | (82) | 8,100 |
| Operating segment net assets | 2,032 | 2,589 | 674 | 1,663 | 1 | — | 6,959 |
|
Additions to non-current non-financial assets | 81 | 123 | 11 | 110 | — | — | 325 |
| Capital expenditure cash payments | 93 | 131 | 12 | 103 | — | — | 339 |
| Underlying EBITDA margin (%) | 28.4 | 21.8 | 10.8 | 27.8 | — | — | 23.7 |
| Return on capital employed (%) | 30.2 | 15.5 | 11.4 | 34.2 | — | — | 23.2 |
| Average number of employees (thousands)1 | 6.7 | 10.5 | 2.4 | 6.3 | 0.1 | — | 26.0 |
Six months ended 30 June 2018 (restated)
| € million, unless otherwise stated | Corrugated Packaging | Flexible Packaging | Engineered Materials | Uncoated Fine Paper | Corporate | Intersegment elimination | Total |
| Segment revenue | 1,015 | 1,378 | 494 | 941 | — | (101) | 3,727 |
| Internal revenue | (22) | (33) | (23) | (23) | — | 101 | — |
| External revenue | 993 | 1,345 | 471 | 918 | — | — | 3,727 |
| Underlying EBITDA | 324 | 256 | 58 | 230 | (16) | — | 852 |
| Depreciation and impairments | (55) | (73) | (15) | (61) | (1) | — | (205) |
| Amortisation | (4) | (7) | (5) | (1) | — | — | (17) |
| Underlying operating profit/(loss) | 265 | 176 | 38 | 168 | (17) | — | 630 |
| Special items | — | (81) | (1) | (18) | — | — | (100) |
| Operating segment assets | 2,256 | 2,821 | 784 | 1,831 | 7 | (97) | 7,602 |
| Operating segment net assets | 2,010 | 2,338 | 662 | 1,523 | 3 | — | 6,536 |
|
Additions to non-current non-financial assets | 438 | 173 | 19 | 143 | — | — | 773 |
| Capital expenditure cash payments | 83 | 164 | 16 | 84 | — | — | 347 |
| Underlying EBITDA margin (%) | 31.9 | 18.6 | 11.7 | 24.4 | — | — | 22.9 |
| Return on capital employed (%) | 30.1 | 14.8 | 13.2 | 26.5 | — | — | 21.3 |
| Average number of employees (thousands)1 | 6.3 | 10.5 | 2.4 | 6.5 | 0.1 | — | 25.8 |
Year ended 31 December 2018 (restated)
| € million, unless otherwise stated | Corrugated Packaging | Flexible Packaging | Engineered Materials | Uncoated Fine Paper | Corporate | Intersegment elimination | Total |
| Segment revenue | 2,115 | 2,708 | 984 | 1,877 | — | (203) | 7,481 |
| Internal revenue | (41) | (69) | (45) | (48) | — | 203 | — |
| External revenue | 2,074 | 2,639 | 939 | 1,829 | — | — | 7,481 |
| Underlying EBITDA | 707 | 461 | 112 | 516 | (32) | — | 1,764 |
| Depreciation and impairments | (116) | (146) | (30) | (119) | (1) | — | (412) |
| Amortisation | (9) | (14) | (9) | (2) | — | — | (34) |
| Underlying operating profit/(loss) | 582 | 301 | 73 | 395 | (33) | — | 1,318 |
| Special items | — | (102) | (3) | (21) | — | — | (126) |
| Operating segment assets | 2,277 | 2,944 | 789 | 1,852 | 4 | (132) | 7,734 |
| Operating segment net assets | 2,001 | 2,442 | 672 | 1,494 | (9) | — | 6,600 |
|
Additions to non-current non-financial assets | 535 | 396 | 35 | 280 | — | — | 1,246 |
| Capital expenditure cash payments | 157 | 360 | 31 | 161 | — | — | 709 |
| Underlying EBITDA margin (%) | 33.4 | 17.0 | 11.4 | 27.5 | — | — | 23.6 |
| Return on capital employed (%) | 34.7 | 14.3 | 11.4 | 31.9 | — | — | 23.6 |
| Average number of employees (thousands)1 | 6.5 | 10.6 | 2.4 | 6.5 | 0.1 | — | 26.1 |
Note:
1 Presented on a full time employee equivalent basis
Contact details:
| Mondi Group | |
| Andrew King Group CFO | +44 193 282 6321 |
|
Clara Valera Group Head of Strategy and Investor Relations | +44 193 282 6357 |
|
Kerry Cooper Group Head of External Communication | +44 193 282 6323 |
| FTI Consulting | |
| Richard Mountain | +44 790 968 4466 |
About Mondi
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative packaging and paper solutions that are sustainable by design. Our business is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything we do. In 2018, Mondi had revenues of €7.48 billion and underlying EBITDA of €1.76 billion.
Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP). Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.
Sponsor in South Africa: UBS South Africa Proprietary Limited.
