Mondi earnings fall 13% in Q3 on lower prices

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Packaging company Mondi's third-quarter earnings were down 13% on the previous quarter amid ongoing closures and lower prices.

Underlying earnings before interest, taxes, depreciation and amortisation reached €306 million in the three months to the end of September, Mondi said this morning in a trading update.

This compared to €353 million in the second quarter, and €383 million in the third quarter of 2019.

Growth in the company's uncoated fine paper and fibre-based packaging products and 'ongoing strong cost control' were offset by the impact of planned maintenance shuts, negative currency effects and lower average selling prices, Mondi said.

At 8:08am: (LON:MNDI) Mondi PLC share price was -47.25p at 1620.25p


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