OREANDA-NEWS.  In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on next will differ by at least 20% from those of the previous corresponding period.

Mondi is currently finalising its results for the half year ended 30 June 2015, which will be released on 6 August 2015. It can now be confirmed that underlying operating profit for the half year ended 30 June 2015 is expected to be above that of the comparable prior year period of EUR377 million.

In the six months ended 30 June 2014, the Group recognised a net special item charge after tax of EUR16 million. The net special item charge for the six months ended 30 June 2015 is around EUR36 million, relating mainly to restructuring activities including the closure of a small kraft paper mill in Finland, the closure of a consumer packaging plant in Spain and further restructuring of the US bags business.

Accordingly, Mondi advises that it expects earnings per share (EPS) for the half year ended 30 June 2015 to be within the ranges shown below:

  • basic underlying EPS (euro cents) 65 to 70 (2014 51.9), an increase of between 25% and 35%
  • basic EPS (euro cents) 57 to 62 (2014 48.6), an increase of between 17% and 28%
  • basic headline EPS (euro cents) 57 to 62 (2014 48.3), an increase of between 18% and 28%

Mondi has disclosed basic underlying EPS, which is defined as basic EPS excluding the impact of special items, as the directors believe this provides a useful additional measure of the Group’s underlying performance. Mondi has disclosed basic EPS which includes the effect of special items. The disclosure of basic headline EPS is required under the Listings Requirements of the JSE Limited and has been calculated in accordance with Circular 2/2013 as issued by the South African Institute of Chartered Accountants.

The above information has neither been reviewed nor audited by Mondi’s auditors.

Mondi is an international packaging and paper Group, employing around 25,000 people across more than 30 countries. Our key operations are located in central Europe, Russia, North America and South Africa. We offer over 100 packaging and paper products, customised into more than 100,000 different solutions for customers and end consumers. In 2014, Mondi had revenues of EUR6.4 billion and a return on capital employed of 17.2%.

The Mondi Group is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and compound plastics, to developing effective and innovative industrial and consumer packaging solutions. Our innovative technologies and products can be found in a variety of applications including hygiene components, stand-up pouches, super-strong cement bags, clever retail boxes and office paper. Our key customers are in industries such as automotive; building and construction; chemicals; food and beverage; home and personal care; medical and pharmaceutical; packaging and paper converting; pet care; and office and professional printing.

Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker code MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker code MNDI.

For us, acting sustainably makes good business sense. We don’t just talk about sustainability; we make it part of the way we work every day. We have been included in the FTSE4Good Index Series since 2008 and the JSE's Socially Responsible Investment (SRI) Index since 2007.