Mondi full year results 2021

Press release
2 March, 2022
4 minute read
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Full year results for the year ended 31 December 2021


1. Strong financial performance

  • Underlying EBITDA of €1,503 million, up €150 million year-on-year (11%), with second half up 29%
  • Profit before tax of €983 million, up 28%
  • Basic underlying earnings per share of 154.0 euro cents, up 19%
  • ROCE up at 16.9%
  • Continued good cash generation and strong balance sheet of 1.2x net debt to underlying EBITDA
  • Recommended full year dividend of 65.0 euro cents per share, up 8%

2. Good progress on all elements of our sustainability roadmap, Mondi Action Plan 2030 (MAP2030)

3. Successful execution and delivery of key investments

4. Strong pipeline of capital investment projects to further capture growth in our packaging markets, building on our leading market positions and long track record of disciplined capital allocation, including €1 billion of expansionary projects approved or under advanced evaluation 

5. Accelerated climate plans - committed to transition to Net-Zero by 2050, in line with a 1.5°C scenario

6. Agreed sale of Personal Care Components business in February 2022 to deliver greater focus

7. Well-positioned for the future, with unique portfolio of leading sustainable packaging solutions, cost-advantaged asset base and strong financial position

Mondi delivered strongly in 2021 and we see good opportunity to accelerate growth in sustainable packaging. Underlying EBITDA of €1,503 million was up 11% and ROCE up at 16.9%. We grew our packaging businesses and saw a recovery in uncoated fine paper markets. Our vertical integration, the agility of our operations and collaboration with our customers ensured we met surging demand at a time when supply chains were under pressure around the world. We implemented price increases across all our businesses and, against a backdrop of rising commodity input costs, we exhibited good cost control. Our focus on safety and protecting the wellbeing of our people remains our priority.

Andrew King, Mondi Group Chief Executive Officer

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