Low market demand, price pressure and downtime were having an adverse effect on Mayr-Melnhof's performance in the third quarter of 2023. However, the group's packaging division is developing "solidly" despite an overall decline in business.
Due to further downtime in the division MM Board & Paper as well as varying demand in the sales markets of MM Packaging and increasing price pressure, MM's consolidated Q3 sales slightly decreased to €1.0bn after €1.1bn9 in Q2 and €1.2bn in Q3 2022.
Performance of Mayr-Melnhof's divisions MM Board & Paper and MM Packaging was diverging in the January-September 2023 period. While MM speaks of a "drastic deterioration" for its cartonboard and paper division after the record year of 2022, the Group's packaging division is developing "solidly" despite an overall decline in business.
Board and paper production stood at 487,000 t in Q3, which is roughly the same as in the previous quarter (486,000 t), but a significant decrease on the same quarter last year (615,000 t)....