Mondi is an international packaging and paper Group, employing around 26,000 people in production facilities across 31 countries. In 2013, Mondi had revenues of €6.5 billion and a return on capital employed (ROCE) of 15.3%. The Group’s key operations are located in central Europe, Russia, the Americas and South Africa. It is fully integrated across the paper and packaging process – from growing of wood and the manufacture of pulp and paper (including recycled grades), to the conversion of packaging papers into corrugated packaging and industrial bags. It has primary listings on the Johannesburg Stock Exchange and the London Stock Exchange. It is a constituent of the FTSE 250 Index


Wood
Wood is Mondi’s most important raw material. It is therefore in our interest to ensure that we meet and support the requirements of sustainable forestry practices, from the management of our own forests right through to the procurement of our wood and fibre through the supply chain.


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Forestry
As a significant holder and manager of land, particularly in developing countries, and as an operator in an industry that potentially has a high impact on the natural environment, we recognise our stewardship role and responsibility in using natural forestry resources in a sustainable way.

Forests provide a range of goods and services. They serve as habitats for two-thirds of terrestrial animal and plant species; prevent soil erosion and water run-off; maintain the chemical balance of soil, air and water; recycle nutrients; break down pollutants; clean the air and water; are vital to watershed protection and soil formation; and play a major role in regulating climate.

The main factors contributing to deforestation and forest degradation are increased agriculture, illegal logging, population growth, poverty and urbanisation. Primary concerns include deforestation resulting from illegal logging in protected or high conservation value (HCV) areas, and timber obtained from controversial sources.

Although Mondi is involved in the felling of trees, we are not party to deforestation. For every tree felled in our plantation forests, at least one more tree is planted. In our natural forests, felled areas are left to regenerate naturally and poor regeneration is supplemented with plantings. Mondi is not involved in illegal logging, or logging in tropical rainforests, and has strict fibre sourcing controls.

Pulp
Wood is an essential raw material for all of our virgin fibre-based products. From wood fibre we produce pulp, the basic ingredient of all paper and paper-based packaging. We use pulp in our own production and also sell it wholesale to third parties. The pulp for paper-making may be produced from virgin fibre by either chemical or mechanical means, or it may be produced by the re-pulping of recovered paper. In the pulping process, the raw cellulose-bearing material is broken down into its individual fibres. In chemical pulping, chemicals are used to dissolve the lignin and free the fibres.

Recovered paper has become an indispensable raw material for our business and, in 2011, we consumed 1.5 million tonnes of recovered fibre, amounting to 30% of our total pulp consumed.

The pulp and paper manufacturing process also requires a large amount of process water and energy (in the form of steam and electrical power), which makes it an energy- and natural resource-intensive one.


http://www.mondigroup.com/desktopdefault.aspx

Mondi PLC (MNDI:LSE) set a new 52-week high during today's trading session when it reached 1,796.00. Over this period, the share price is up 46.40%.

Modernisation and expansion of Steti Mill

PRN


Mondi Limited
Incorporated in the Republic of South Africa
Registration number: 1967/013038/06
JSE share code: MND ISIN: ZAE000156550

Mondi plc
Incorporated in England and Wales
Registered number: 6209386
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI

26 January 2017

As part of the dual listed company structure, Mondi Limited and Mondi plc (together Mondi Group or Mondi) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure Guidance and Transparency Rules and the Listing Rules of the United Kingdom Listing Authority. This announcement contains inside information and falls within the inside information classification pursuant to the requirements in Articles 7 and 9 of the regulatory technical standards of the Transparency Directive (2004/109/EC).

Modernisation and expansion of the Steti mill in the Czech Republic

As previously stated, Mondi continues to assess capital investment opportunities centred on the Groups high-quality, low-cost packaging paper assets in central Europe.

The Mondi Boards have approved the modernisation and expansion of the Steti mill for a total investment of 470 million, subject to obtaining approval for various tax incentives and necessary permitting. The project consists of the installation of a new recovery boiler, the rebuild of the fibre lines, the debottlenecking of the paper machines and an investment in a new 90,000 tonnes per annum machine glazed kraft paper machine. Key benefits of the project are:

•Increased electricity self-sufficiency, lower energy costs and reduced environmental footprint of the mill


•Increased pulp production of 130,000 tonnes per annum and lower pulp production costs per tonne


•Debottlenecking of existing packaging paper machines providing total incremental production of 55,000 tonnes per annum


•Additional capacity to produce 90,000 tonnes per annum of machine glazed kraft paper to supply fast growing end-uses in flexible packaging and food service applications


•Avoidance of maintenance capital expenditure over the next five years of around 105 million.


The new recovery boiler and rebuilt fibre lines are expected to start up in late 2018 while the new paper machine is expected to start up in the first half of 2019. Based on the current timetable, capital expenditure on the project is expected to be incurred in the three years from 2017 to 2019.

Given the approved project pipeline, the Groups annual capital expenditure is now expected to be in the range of 600-650 million in 2017 and 800-850 million in 2018.

Commenting on the project, Mondi Group CEO David Hathorn said, This investment represents an exciting step in the continued development of our Packaging Paper business, further leveraging our low-cost production footprint in central Europe to produce high quality products that meet the growing needs of our customers

Acquisition(s)

PRN


Mondi Limited
Incorporated in the Republic of South Africa
Registration number: 1967/013038/06
JSE share code: MND ISIN: ZAE000156550

Mondi plc
Incorporated in England and Wales
Registered number: 6209386
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI

6 February 2017

As part of the dual listed company structure, Mondi Limited and Mondi plc (together Mondi Group or Mondi) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure Guidance and Transparency Rules and the Listing Rules of the United Kingdom Listing Authority.

Mondi Group acquires Excelsior Technologies

Mondi Group has acquired 100% of the outstanding share capital of Excelsior Technologies Limited (Excelsior or the Company) from funds managed by Endless LLP and certain other minority shareholders, for a total consideration of 33 million (38 million), on a debt and cash-free basis.

Excelsior is a vertically-integrated producer of innovative flexible packaging solutions, mainly for food applications, with a unique packaging technology for microwave steam cooking. With two plants, located in Deeside (Northern Wales, UK) and Nelson (Lancashire, UK) the Company serves both domestic and US customers. For the year ended 31 December 2016, Excelsior generated revenues of 39 million (47 million).

Commenting on the acquisition, David Hathorn, Chief executive of Mondi Group, said: The acquisition of Excelsior supports the development of our Consumer Packaging business in high growth product applications. Its leading microwave steam cooking packaging technology complements and enhances our global food packaging offering.

Market Buzz
Broker tips: Mondi, Inmarsat
Fri, 17 February 2017


(ShareCast News) - JPMorgan Cazenove upgraded paper and packaging company Mondi to 'overweight' from 'neutral' and lifted the price target to 2,070p from 1,600p.
The bank said it expects the tightening in Mondi's key markets and rising old corrugate container/pulp input costs - from which Mondi derives net benefit as a mostly integrated producer - to support price hikes from the second quarter.

This drives upgrades of around 6% to its FY17 earnings per share forecasts and 3% to FY18 estimates.

JPM pointed out that Mondi's key markets are tightening on the back of strong demand, limited near-term capacity additions and lack of spare capacity in the US (a major exporter into Europe), assisted by rising input costs.

"Moreover, we expect Mondi's balance sheet to continue to offer optionality in the form of further M&A or cash returns, given low levels of leverage.

"On 14.3x FY17e price to earnings, some of the improved outlook is priced in, but Mondi tends to rerate in a price hiking cycle and, in a reflationary environment, we think there will be more to go given improved pricing power."

Final results


Full year results for the year ended 31 December 2016
Highlights
Strong financial performance
Underlying operating profit of �981 million, up 3%
Underlying earnings of 137.8 euro cents per share, up 3%
Cash generated from operations of �1,401 million, up 10%
Return on capital employed of 20.3%
Capital projects delivering growth
Completed major projects contributed incremental �50 million to underlying operating profit in 2016
Strong expansionary capital investment pipeline: over �800 million in major projects approved and in progress
Four acquisitions totalling �185 million, expanding our packaging interests
Implemented Growing Responsibly model, defining our sustainability commitments to 2020
Recommended full year dividend of 57.0 euro cents per share, up 10%

23 Feb
Deutsche Bank
2,100.00
Buy

2 Mar
Jefferies...
2,200.00
Buy

7 Mar
Goldman Sachs
2,000.00
Neutral

2016 Final Dividend euro/sterling Exchange Rate
PRN
Mondi Limited
Incorporated in the Republic of South Africa
Registered office: 4th Floor, No.3 Melrose Boulevard, Melrose Arch 2196, Gauteng, RSA
Registration number: 1967/013038/06
Tax registration number: 920/0017/71/4P
JSE share code: MND ISIN: ZAE000156550
Mondi plc
Incorporated in England and Wales
Registered office: 1st Floor, Building 1, Aviator Park, Station Road, Addlestone, Surrey KT15 2PG, UK
Registered number: 6209386
Tax registration number: 454 12394 14454
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited and Mondi plc (together Mondi Group) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure Guidance and Transparency and Listing Rules of the United Kingdom Listing Authority. To comply with the requirements in Articles 7 and 9 of the regulatory technical standards of the Transparency Directive (2004/109/EC), this announcement is classified as additional regulated information required to be disclosed under the laws of a Member State.
2 May 2017
Mondi Group 2016 Final Dividend euro/sterling Exchange Rate
Mondi announced on 23 February 2017 that Mondi Limited and Mondi plc will, subject to shareholder approval at the AGMs, pay their respective dividends on 18 May 2017 as follows:
Mondi Limited
Mondi Limited will pay its dividend in South African rand cents. The applicable exchange rate is EUR 1 to ZAR 13.68707.
Therefore, the equivalent gross final dividend in rand cents per ordinary share will be 522.70920.
Mondi plc
Mondi plc will pay its dividend in euro (38.19 euro cents per ordinary share). 
However, ordinary shareholders resident in the United Kingdom will receive the dividend in sterling (unless shareholders have elected to receive their dividend in euro). The last date for euro currency elections was 21 April 2017. It was stated in the announcement on 23 February that the exchange rate for this payment would be set today. Accordingly, it is confirmed that sterling dividend payments will be converted at a rate of EUR 1 to GBP 0.84713. Therefore, the equivalent final dividend in pence per ordinary share will be 32.35189.
Mondi plc South African branch register shareholders will receive the dividend in South African rand cents, converted at a rate of EUR 1 to ZAR 13.68707. Therefore, the equivalent gross final dividend in rand cents per ordinary share will be 522.70920.
Information relating to the dividend tax applicable to Mondi Limited shareholders and Mondi plc South African branch register shareholders can be found in the ZAR/euro exchange rate announcement released by Mondi on 23 February 2017.
Sponsor in South Africa: UBS South Africa (Pty) Ltd

Thurs 11 May Trading statement

Trading Update
PRN
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited and Mondi plc (together Mondi Group) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure Guidance and Transparency and Listing Rules of the United Kingdom Listing Authority.
Mondi Group: Trading update 11 May 2017
This trading update provides an overview of our financial performance and financial position since the year ended 31 December 2016, based on management information up to 31 March 2017 and estimated results for April 2017. These results have not been audited or reviewed by Mondis external auditors.
Reviewed results for the half-year ending 30 June 2017 will be published on 3 August 2017.
Except as discussed in this update, there have been no significant events or transactions impacting either the financial performance or financial position of the Group since 31 December 2016 up to the date of this statement.
Group performance overview
Underlying operating profit for the first quarter of 2017 of 252 million was 6% down on the comparable prior year period (269 million). Strong sales volume growth was more than offset by a significantly lower forestry fair value gain, inflationary cost pressures and lower average selling prices. Underlying operating profit was up 12% on the fourth quarter of 2016 (225 million) as the Group benefited from higher sales volumes and prices.
Sales volumes grew across the Groups Packaging Paper, Fibre Packaging and Consumer Packaging business units compared to the first quarter of 2016. This was further enhanced by the acquisitions in our Corrugated and Consumer Packaging businesses during 2016.
Selling prices for the Groups main paper grades were, on average, below those of the comparable prior year period as prices decreased over the course of 2016. As previously highlighted, during the first quarter of 2017, we implemented price increases across a number of our paper grades, although these had only limited impact in the quarter.
Wood costs were higher than the comparable prior year period, while benchmark paper for recycling prices rose sharply, up 17% compared to the first quarter of 2016, and were at similar levels to the fourth quarter of 2016. Benchmark polyethylene prices were also higher, on the back of higher crude oil prices. Energy costs increased due to the weather conditions in Europe and higher energy input costs. Inflationary cost pressure resulted in higher fixed costs and the depreciation charge was up due to the impact of the Groups capital investment programme.
Currency movements had a small net positive impact on operating profit versus the comparable prior year period and a small net negative impact when compared to the fourth quarter of 2016.
Planned maintenance shuts were completed in Packaging Paper during the quarter with an estimated impact on operating profit of 10 million. There were no significant maintenance shuts during the first quarter of 2016. Based on prevailing market prices, we continue to estimate that the impact of planned maintenance shuts on operating profit for 2017 will be around 80 million, of which around 35 million will be incurred in the first half of the year (20 million in the first half of 2016).
Divisional overview
In Packaging Paper, average selling prices for containerboard were down on the comparable prior year period due to price erosion seen over the course of 2016. Compared to the first quarter of 2016, average benchmark European kraftliner prices were down 2.7%, recycled containerboard prices were down 5.8%, and white-top kraftliner prices were marginally down. Supported by strong demand, price increases were implemented in recycled containerboard, with a cumulative 80/tonne increase having been achieved by the beginning of the second quarter. In unbleached kraftliner grades, increases of 50/tonne were implemented towards the end of the first quarter, while increases of up to 30/tonne in white top kraftliner have been agreed for implementation in the second quarter of 2017. Given sustained good demand and a strong order position, we have announced a further price increase of 50/tonne for unbleached kraftliner grades to take effect during the second quarter of 2017.
Sales volumes for sack kraft paper remained at similar levels to the comparable prior year period. As previously indicated, selling prices were increased by 3?4% from the beginning of 2017 in all markets. Demand remains strong, particularly in our export markets, supporting further price increases during the second quarter of 2017 of 3?4% in our European business and, where not fixed by annual contracts, in overseas markets.
Our Fibre Packaging business benefited from good volume growth, particularly in Corrugated Packaging, and a positive contribution from the acquisitions completed during 2016. Recent paper price increases are impacting margins in the near term, while strong cost management continues to limit the impact of other inflationary cost pressures.
Consumer Packaging was impacted by inflationary cost pressures and negative sales mix effects which were offset by increased volumes and the contributions from recent acquisitions. Short term profit growth is proving challenging due to low growth in certain value added product areas.
Uncoated Fine Paper continued to perform strongly despite weaker European pricing, benefiting from good demand, stable Russian domestic pricing and a stronger Russian rouble. Average benchmark European selling prices were down 4% on the comparable prior year period. During the first quarter, price increases of around 15?25 per tonne were implemented in Europe. Given continued good demand, a further price increase of up to 6% was announced to be implemented in Europe during May.
Our South Africa Division was impacted by a significantly lower forestry fair value gain, lower average export selling prices for both hardwood pulp and white top kraftliner, and a stronger rand, which more than offset higher average domestic selling prices.
Capital investment projects
We are making good progress on our capital investment projects. The recently completed projects in our Richards Bay (South Africa) and Syktyvkar (Russia) mills are making good contributions. Ramp-up of the rebuilt paper and inline coating machine in Steti (Czech Republic) remains challenging. Our investment at Swiecie (Poland) to provide an additional 100,000 tonnes per annum of softwood pulp and 80,000 tonnes per annum of lightweight kraftliner is currently in ramp-up. The process of obtaining approval for tax incentives and permitting for the proposed new paper machines at our Steti and Ruzomberok (Slovakia) mills is ongoing and work has started on the modernisation of the Steti pulp mill.
Cash flow and financing activities
Strong cash generation from operating activities more than offset the cash outflows related to our capital expenditure programme, acquisitions, and financing activities, resulting in a reduction in net debt during the quarter.
In April 2017, we redeemed our 5.75% 500 million Eurobond from available cash and committed undrawn debt facilities. This will result in a lower finance cost charge for 2017.
There have been no other significant changes in the Groups borrowing facilities since 31 December 2016.
Outlook
As previously advised, we are experiencing some inflationary cost pressures across the Group and the forestry fair value gain is expected to be lower than in 2016. Supported by good demand, we have successfully implemented price increases in a number of key paper grades and we expect to continue to benefit from our recently completed capital projects and acquisitions. We remain confident of making progress in the year and continuing to deliver industry leading returns.

09:00 27/07/2017
Broker Forecast - Deutsche Bank issues a broker note on Mondi PLC
Deutsche Bank today reaffirms its buy investment rating on Mondi PLC (LON:MNDI) and raised its price target to 2300p (from 2200p). Story provided by StockMarketWire.com

8 Sep
Deutsche Bank
N/A
Buy
14 Aug
Deutsche Bank
2,300.00
Buy
7 Aug
Deutsche Bank
2,300.00
Buy

12:30 12/09/2017
Broker Forecast - Goldman Sachs issues a broker note on Mondi PLC
Goldman Sachs today reaffirms its neutral investment rating on Mondi PLC (LON:MNDI) and raised its price target to 2200p (from 2100p). Story provided by StockMarketWire.com

23 Oct
Jefferies...
2,300.00
Buy

08:10 18/12/2017
Broker Forecast - Deutsche Bank issues a broker note on Mondi PLC
Deutsche Bank today upgrades its investment rating on Mondi PLC (LON:MNDI) to buy (from hold) and left its price target at 2150p. Story provided by StockMarketWire.com

09:40 20/12/2017
Broker Forecast - Goldman Sachs issues a broker note on Mondi PLC
Goldman Sachs today upgrades its investment rating on Mondi PLC (LON:MNDI) to buy (from neutral) and left its price target at 2200p. Story provided by StockMarketWire.com

Acquisition(s)
PRN
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND     ISIN: ZAE000156550
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP     ISIN: GB00B1CRLC47
LSE share code: MNDI
22 December 2017
As part of the dual listed company structure, Mondi Limited and Mondi plc (the Companies and together Mondi Group, the Group or Mondi) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure Guidance and Transparency Rules and the Listing Rules of the United Kingdom Listing Authority.
Mondi Group signs an agreement to acquire Powerflute
Mondi Group has signed an agreement to acquire 100% of the outstanding shares in Powerflute Group Holdings Oy (Powerflute or the Company), a division of Nordic Packaging and Container Holdings (NPAC Holdings), for a total consideration of 365 million on an enterprise value basis.
Powerflute operates an integrated pulp and paper mill in Kuopio (Finland) with an annual production capacity of 285,000 tonnes of high-performance semi-chemical fluting. Powerflutes premium semi-chemical fluting is sold to a diverse range of customers, primarily for packaging fresh fruit and vegetables, but also other end-uses such as electronics, chemicals and pharmaceuticals. Around half of the Companys production is sold in Europe, while the remainder is exported globally.
For the year ended 31 December 2017, the Company is expected to generate revenues of around 183 million and unaudited pro-forma adjusted EBITDA of around 42 million. Powerflute will be integrated into Mondis Packaging Paper Business Unit.
Commenting on the acquisition, Peter Oswald, Chief executive of Mondi Group, said: The acquisition of Powerflute supports our strategy of investing in high-quality packaging and paper assets. We are excited by this opportunity to expand our customer offering by further broadening our containerboard product range and geographic reach.
The transaction remains subject to competition clearance and customary closing conditions and is expected to complete in the first half of 2018.

Friday 2 March Final results

Final results


Full year results for the year ended 31 December 2017
Highlights
" Robust financial performance
" Revenue of �7,096 million, up 7%
" Underlying EBITDA of �1,444 million, up 6%
" Underlying operating profit of �1,018 million, up 4%
" Underlying basic earnings of 149.5 euro cents per share, up 8%
" Profit before tax of �887 million, up 5%