Message from our CEO
Our ability to achieve value for our shareholders is driven by our focused strategy and rigorous attention to operational efficiency.
We remain undeterred in our aspiration to be the best performing paper and packaging group in the world and firmly believe that our strategy will ensure we realise this ambition. Indeed, in today’s challenging economic times we believe the benefits of our approach will be even more pronounced. Three pillars continue to underpin our strategy:
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- Build on leading positions in packaging and UFP, particularly in high-growth emerging markets;
- Maintain our position as a low-cost, high-quality producer by selectively investing in production capacity in lower-cost regions and exploiting benefits of upstream integration (including forestry); and
- Focus on continuous productivity improvement and cost reduction, delivered through business excellence programmes and rigorous asset management.
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The Mondi Group maintains the strategic course set in place over the past year and the effectiveness of this strategy, as evidenced in the robust performance of the past year, places us in a strong position as we move forward. With the completion of the major European projects in 2010 we should see increased cash flow generation in the year. We plan to use this to ensure that our asset base remains appropriately invested, our debt levels are such that we maintain investment grade credit metrics, and returns to shareholders are increased in line with our dividend policy. The Group’s product portfolio will continue to be carefully assessed to ensure maximum value is achieved across all our operating regions, taking opportunities to strengthen these as appropriate.
David Hathorn
Chief executive officer, Mondi
Last change: 24/03/2011