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

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%

Sharecast - t a note on packaging and paper.



Goldman said it likes Smurfit in the packaging space, along with Mondi, which had been trading up earlier. The bank said it expects Smurfit and Mondi to benefit from already achieved price increases throughout 2017 and continuous solid demand.
"Smurfit Kappa Group and DS Smith, two of the biggest box producers in Europe are targeting box prices after rising input costs through 2017 caused margin contraction. At 4Q results, Smurfit highlighted it had achieved a 5% box price increase and remained confident in achieving the 6%-8% it guided for earlier in 2017.
"DS Smith is targeting an 8%-10% increase and had achieved around 3.5% at 1H18 results and price increases are progressing in line with expectations. We expect the recovery to continue in 1H18 and drive a margin expansion in 2018 as producers benefit from already achieved box prices and get additional gains in 1H18 contract negotiations."

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
30 April 2018
As part of the dual listed company structure, Mondi Limited and Mondi plc (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 NPP in Egypt
Mondi has signed an agreement to acquire 100% of the outstanding shares in National Company for Paper Products and Import & Export S.A.E (NPP or the Company), for a total consideration of EGP510 million (23.7 million) on a debt and cash free-basis.
NPP is a privately owned industrial bags producer, operating one plant in Giza near Cairo (Egypt) serving mostly regional customers. For the year ended 31 December 2017, the Company generated revenues of EGP577 million (29 million) and adjusted EBITDA of EGP107 million (5 million).
Mondi is the leading industrial bags producer in the Middle East, operating four plants in the region. Commenting on the acquisition, Erik Bouts, CEO Fibre Packaging, Mondi Group, said: The acquisition of NPP complements our network of plants in the growing Middle East region and provides us with a leading position in Egypt to grow our business and better serve our customers.
The transaction is subject to customary closing conditions and is expected to complete during the first half of 2018.

Trading update

Half year report

Highlights
Strong financial performance
Underlying EBITDA of 852 million, up 17%, with margin of 22.9%
Profit before tax of 490 million, up 6%
Basic underlying earnings of 89.2 euro cents per share, up 26%
Cash generated from operations up 18%
Return on capital employed 21.3%
Excellent performance from Packaging Paper
Good progress on major capital investment projects
Integration of recent acquisitions on track, expanding the Groups containerboard portfolio and network of industrial bag plants in high growth regions
Interim dividend declared of 21.45 euro cents per share

22 Aug
Jefferies...
N/A
Buy

2018 Interim 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.
31 August 2018
Mondi Group 2018 Interim Dividend euro/sterling Exchange Rate
Mondi announced on 3 August 2018 that Mondi Limited and Mondi plc will pay their respective dividends on 14 September 2018 as follows:
Mondi Limited
Mondi Limited will pay its dividend in South African rand cents. The applicable exchange rate is EUR 1 to ZAR 15.59068.
Therefore, the equivalent gross interim dividend in rand cents per ordinary share will be 334.42009.
Mondi plc
Mondi plc will pay its dividend in euro (21.45 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 24 August 2018. It was stated in the announcement on 3 August 2018 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 0.89641. Therefore, the equivalent interim dividend in pence per ordinary share will be 19.22799.
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 15.59068. Therefore, the equivalent gross final dividend in rand cents per ordinary share will be 334.42009.
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 3 August 2018.
Sponsor in South Africa: UBS South Africa (Pty) Ltd

Simplification of corporate structure
PRN
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
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, 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 and Listing Rules of the United Kingdom Listing Authority.
This announcement contains inside information.
19 November 2018
Simplification of corporate structure
The Boards of Mondi plc and Mondi Limited (the Boards) announce that they are proposing to simplify the existing Mondi Group structure from the current dual listed company structure ("DLC") into a single holding company structure under Mondi plc. Mondi plc will continue to have a premium listing on the London Stock Exchange (LSE) and will have an inward secondary listing on the Johannesburg Stock Exchange (JSE) quoted in rand.
The simplification will be implemented by way of a South African scheme of arrangement whereby Mondi plc will acquire Mondi Limited. Mondi Limited shareholders will receive one new Mondi plc share in exchange for each Mondi Limited share held. Following the simplification, each Mondi plc shareholder will have the same voting and capital interests in the Group as each Mondi Limited and Mondi plc shareholder currently has.
Since its formation in 2007, Mondi has been an integrated corporate group established under a DLC structure with dual holding companies, Mondi plc, listed on the LSE with a secondary listing on the JSE holding the non-South African interests of the Group, and Mondi Limited, listed on the JSE holding the South African interests of the Group. Operating as a combined group, Mondi is governed by complex arrangements to maintain parity between the economic and voting rights of the Mondi plc and Mondi Limited shareholders. At the time of formation, this structure reflected the fact that the majority of Mondi's business was located in Europe, whilst recognising Mondi's South African heritage and its significant ongoing operations in the country. The shares in Mondi plc and Mondi Limited currently represent approximately 76% and 24%, respectively, of the Mondi Groups combined ordinary share capital.
Mondi has achieved very strong profit growth since listing and, as the Group has evolved, its non-South African interests have grown faster than its South African interests, reflecting the relative scale of opportunities in the respective markets. Today, over 90% of the Group's underlying earnings are generated outside South Africa. This results in an imbalance between the share of the Group dividend Mondi Limited is required to support (approximately 24%) and the contribution of Mondi Limited to Mondis profit available for distribution. The proposal will simplify cash and dividend flows.
Mondi remains fully committed to South Africa with the South African operations being an important part of Mondi, contributing to the Groups industry leading performance. Streamlining the corporate structure will facilitate continued investment in the South African operations, estimated at over R8 billion over the next five years, including the ongoing investment in forestry assets and modernisation of the Groups pulp, containerboard, and paper assets.
The simplification will also enhance strategic flexibility, increase transparency and remove the complexity associated with the current structure. The simplification will not result in any changes to the management, operations, locations, activities or staffing levels of the Mondi Group.
Mondi has received written approval from the Minister of Finance through the South African Reserve Bank (SARB) to simplify the existing Mondi Group structure and to operate under Mondi plc as a single holding company.
Mondi plc will continue to be incorporated in the UK and will remain UK tax resident. Mondi Limited will remain incorporated and tax resident in South Africa and will become a subsidiary of Mondi plc. Mondi plc will continue to have a pound sterling quote on the LSE and will have an inward secondary listing on the JSE quoted in rand. Dividends will continue to be declared in euros. Shareholders holding Mondi plc shares on the JSE will continue to receive payment in rand. The Groups dividend policy remains unchanged.
Mondi plc shares will continue to be included in the FTSE 100 index. Today Mondi Limited shares are not eligible for inclusion in the FTSE 100 index. Following the issue of Mondi plc shares in exchange for Mondi Limited shares as a result of the simplification, it is expected that Mondi plc's weighting in the FTSE 100 index will increase. Mondi plc shares are expected to continue to be eligible for inclusion in the key JSE indices.
The simplification is not expected to have any significant impact on the reported profits or net assets of the business.
The simplification is subject to certain conditions, including, among other things, the approval of the shareholders of Mondi plc and Mondi Limited. A shareholder circular, scheme document and prospectus are expected to be made available to shareholders in the first half of 2019, with implementation of the simplification currently expected in the second half of 2019.
Peter Oswald, Chief Executive of Mondi, commented, "Mondi has delivered a strong track record of value accretive growth since listing. While we have successfully operated as a DLC to date, the evolution of the Group since its formation in 2007 means that we need to consider the appropriate structure for the future. The proposed simplification is a natural step to remove the complexities around our structure and make our corporate framework more efficient. Our South African operations remain important to the Group and the proposed simplification facilitates the modernisation of our Richards Bay mill and ongoing capital expenditure in South Africa. Our strategy of delivering value accretive growth focused around innovative and sustainable packaging and paper solutions remains unchanged".

11:00 04/01/2019
Broker Forecast - Jefferies International issues a broker note on Mondi PLC
Jefferies International today reaffirms its buy investment rating on Mondi PLC (LON:MNDI) and cut its price target to 1950p (from 2250p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk