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

Interim Result
04 Aug 16 Mondi PLC [MNDI]

Half year report

Half-yearly results for the six months ended 30 June 2016

Highlights

" Continued strong financial performance on all key metrics
• Underlying operating profit of �529 million, up 8%
• Underlying earnings of 75.0 euro cents per share, up 11%
•Cash generated from operations of �620 million, up 15%
•Return on capital employed of 21.2%

" Capital projects continue to deliver growth

" Strategic acquisitions enhance packaging portfolio

" Interim dividend declared of 18.81 euro cents per share

4 Aug Davy Research N/A Outperform
4 Aug Goodbody N/A Buy

Ex dividend Wed 17 Aug 0.19 euro

2016 Interim Dividend euro/sterling Exchange Rate

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)
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 and/or the Disclosure Guidance and Transparency Rules and Listing Rules of the United Kingdom Listing Authority.

26 August 2016

Mondi Group 2016 Interim Dividend euro/sterling Exchange Rate

Mondi announced on 4 August 2016 that Mondi Limited and Mondi plc will pay their respective dividends on 13 September 2016 as follows:

Mondi Limited

Mondi Limited will pay its dividend in South African rand cents. The applicable exchange rate is EUR 1 to ZAR 15.35580.

Therefore, the equivalent gross interim dividend in rand cents per ordinary share will be 288.84260.

Mondi plc

Mondi plc will pay its dividend in euro (18.81 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 19 August 2016. It was stated in the announcement on 4 August 2016 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 0.85448. Therefore, the equivalent interim dividend in pence per ordinary share will be 16.07277.

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 15.35580. Therefore, the equivalent gross interim dividend in rand cents per ordinary share will be 288.84260.

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 4 August 2016.

Sponsor in South Africa: UBS South Africa (Pty) Ltd

26 Aug Deutsche Bank 1,700.00 Buy

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
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
10 October 2016
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 signs an agreement to acquire Beepack
Mondi Group has signed an agreement to acquire 100% of the outstanding share capital of LLC Beepack (Beepack) from a private investor for a consideration of RUB2,825 million (EUR41 million) on a debt-and-cash-free basis.
Beepacks plant in Lebedyan (Lipetsk region of Russia, around 400 km south of Moscow) makes a range of corrugated packaging trays and boxes for food and agricultural products including beverages, fruit and vegetables, poultry and dairy. Customers include local Russian and international producers. For the year ended 31 December 2015 Beepack generated revenues of RUB2,782 million (EUR41 million) and adjusted EBITDA of RUB462 million (EUR7 million).
David Hathorn, Chief executive of Mondi Group, said: The acquisition of Beepack supports the ongoing development of our Corrugated Packaging business in central and eastern Europe. It enables us to enter a market with strong growth potential while expanding our geographic reach to better serve our customers.
The transaction remains subject to customary closing conditions and is expected to complete in Q4 2016.

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)
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 13 October 2016
This trading update provides an overview of our financial performance and financial position since the half year ended 30 June 2016. These results have not been audited or reviewed by our external auditors.
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 30 June 2016 up to the date of this statement.
Group performance overview
Underlying operating profit for the third quarter of 2016 of EUR227 million was 3% above the comparable prior year period (EUR221 million). As anticipated, generally lower average selling prices and a significantly lower fair value gain on forestry assets resulted in a 12% reduction in underlying operating profit from the second quarter of 2016 (EUR259 million).
On a like-for-like basis, sales volumes of our key paper grades were in line with the comparable prior year period.
Of our key input costs, wood and chemical costs remained stable during the period. Energy costs were down on the comparable prior year period due to lower energy prices and the benefits of various energy efficiency investments. While we continue to benefit from the energy investments completed in 2015 at Swiecie, prices achieved for green energy resulting from these investments were significantly lower than both the comparable prior year period and the second quarter and remain under pressure going into the fourth quarter. The average cost per tonne of paper for recycling was up 8% on the comparable prior year period and up 10% on the second quarter. Polyethylene prices were down on the comparable prior year period and stable on the second quarter.
While generally weaker compared to the third quarter of 2015, the emerging market currencies in which we operate were relatively stable to stronger versus the Euro when compared to the second quarter of 2016.
We completed planned maintenance shuts at our Swiecie (Poland) and Ruzomberok (Slovakia) mills during the quarter. The estimated impact on operating profit was around EUR20 million (EUR35 million in Q3 2015) and we continue to estimate that the full year impact of planned maintenance shuts will be around EUR70 million (2015: EUR90 million). In the fourth quarter, maintenance shuts are planned at the Richards Bay mill (South Africa) and at our kraft paper operations, with an estimated impact on operating profit of around EUR30 million (Q4 2015: EUR20 million). In 2015, the Richards Bay shut took place in the first quarter.
Divisional overview
In Packaging Paper, average benchmark European virgin containerboard prices were similar to the previous quarter but over 7% down on the comparable prior year period. Supported by sustained good demand and a strong order position, a price increase of EUR20/tonne was implemented in August across all European markets excluding southern Europe, partly offsetting the price erosion seen over the course of the first half of the year. Average benchmark recycled containerboard prices were down by around 3% versus the previous quarter and around 7% down on the comparable prior year period.
Average kraft paper prices were marginally down versus the previous quarter and around 8% down on the comparable prior year period. During the quarter we announced a EUR60/tonne increase in sack kraft paper for all European markets and an 8-12% increase in export markets.
In the Industrial Bags segment of Fibre Packaging, while European markets remain robust, the business continued to be negatively impacted by challenging market conditions in the US and CIS. The fourth quarter will be impacted by the usual seasonal slowdown in demand. Corrugated Packaging achieved good organic volume growth, supplemented by the acquisition of SIMET S.A. earlier in the year. On 10 October 2016, we announced the acquisition of a corrugated packaging facility in Russia (LLC Beepack) for a consideration of RUB2,825 million (EUR41 million) on a cash and debt free basis, supporting the ongoing development of our Corrugated Packaging business in central and eastern Europe.
During the third quarter, we concluded the acquisitions of Kalenobel (Turkey) and Uralplastic (Russia), supporting the growth of our Consumer Packaging business. While the integration of these businesses is progressing, a small net charge to operating profit in the second half of 2016 is expected from these acquisitions due to the effects of acquisition accounting and transaction costs.
Benchmark European uncoated fine paper prices were down by around 1% versus the previous quarter and marginally down on the comparable prior year period. In Europe, prices were under pressure through the quarter from a combination of seasonally weak demand and an increase in imports, but recent indications are that pricing has stabilised as order books strengthen into the seasonally stronger winter months. Pricing in the CIS markets remains stable. The marginal strengthening of the rouble in the quarter gave rise to translation gains for our domestically focused Russian uncoated fine paper operations.
In our South Africa Division, the notable strengthening of the rand in the quarter and the continued weakness of the USD pulp price (down 16% on the comparable prior year period and down 3% on the previous quarter) negatively impacted the profitability of the export oriented pulp and containerboard operations. Forestry gains of EUR8 million were significantly lower than those recognised in the first half of the year (EUR48 million).
Capital investment programme
We continue to make good progress on our previously announced major capital investment projects at our high-quality, low-cost operations in central Europe and South Africa.
At our Richards Bay mill (South Africa) the projects to upgrade the woodyard and provide capacity to produce unbleached kraftliner are nearing completion with planned project tie-ins to be completed during the maintenance shut in October.
As a result of lower prices for green energy in Poland and the slower than anticipated ramp-up of the paper and in-line coating machine at Steti (Czech Republic), the incremental operating profit contribution in 2016 from our capital investment programme is now estimated to be EUR50 million (previously EUR60 million).
Cash flow
Strong cash generation from operating activities largely offset the cash outflows related to our capital expenditure programme, acquisitions totalling EUR132 million and payment of the interim dividend. Net debt increased during the quarter to EUR1,560 million (30 June 2016: EUR1,491 million).
Outlook
We expect to benefit from stable to higher selling prices in a number of key product segments as we move into 2017 following the downward pressure seen over the course of 2016. Costs remain generally stable, albeit with near-term pressure in certain areas. Our ongoing capital investment programme continues to deliver strong returns. With our clear strategy, robust business model and culture of continuous improvement, we remain confident of continuing to deliver an industry leading performance.

1 Nov
Davy Research
N/A
Outperform

Mondi PLC (MNDI:LSE) set a new 52-week high during today's trading session when it reached 1,721.00. Over this period, the share price is up 39.81%.

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