Mondi posts 30% rise in earnings as it continues to tackle impact of war on plastic

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“We continue to work actively with our customers, suppliers and other stakeholders to find innovative solutions that improve the sustainability of plastic packaging, based on circular economy principles,” Mondi said Packaging and paper company () reported a 30% increase in third-quarter earnings but warned that it continues to see pressure on its cost base and challenges stemming from the war on plastic waste. Underlying earnings (EBITDA) rose to €466mln in the three months to September 30, compared to €359mln the same period a year ago. The FTSE 100 firm said like-for-like sales volumes were higher than last year, supported by growth in its fibre packaging business. However, fixed costs rose due to the shutdown of mills for maintenance work and higher input inflation. Planned mill maintenance shuts had a €30mln impact on underlying EBITDA for the quarter and Mondi continues to expect to take a €115mln charge for the full year.
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