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 and Transparency and Listing Rules of the
United Kingdom Listing Authority.
28 July 2015
Mondi Group: Trading Statement
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited,
companies are required to publish a trading statement as soon as they become
reasonably certain that the financial results for the period to be reported on
next will differ by at least 20% from those of the previous corresponding
period.
Mondi is currently finalising its results for the half year ended 30 June 2015,
which will be released on 6 August 2015. It can now be confirmed that
underlying operating profit for the half year ended 30 June 2015 is expected to
be above that of the comparable prior year period of EUR377 million.
In the six months ended 30 June 2014, the Group recognised a net special item
charge after tax of EUR16 million. The net special item charge for the six
months ended 30 June 2015 is around EUR36 million, relating mainly to
restructuring activities including the closure of a small kraft paper mill in
Finland, the closure of a consumer packaging plant in Spain and further
restructuring of the US bags business.
Accordingly, Mondi advises that it expects earnings per share (EPS) for the
half year ended 30 June 2015 to be within the ranges shown below:
* basic underlying EPS (euro cents) 65 to 70 (2014 51.9), an increase of
between 25% and 35%
* basic EPS (euro cents) 57 to 62 (2014 48.6), an increase of between 17% and
28%
* basic headline EPS (euro cents) 57 to 62 (2014 48.3), an increase of
between 18% and 28%
Mondi has disclosed basic underlying EPS, which is defined as basic EPS
excluding the impact of special items, as the directors believe this provides a
useful additional measure of the Group's underlying performance. Mondi has
disclosed basic EPS which includes the effect of special items. The disclosure
of basic headline EPS is required under the Listings Requirements of the JSE
Limited and has been calculated in accordance with Circular 2/2013 as issued by
the South African Institute of Chartered Accountants.
The above information has neither been reviewed nor audited by Mondi's
auditors.
End
Contact details:
Mondi Group
Andrew King +27 11 994 5415
Lora Rossler +27 83 627 0292
FTI Consulting
Richard Mountain +44 7909 684 466
Roger Newby +44 20 3727 1385
Editors' notes
We are Mondi: In touch every day
Mondi is an international packaging and paper Group, employing around 25,000
people across more than 30 countries. Our key operations are located in
central Europe, Russia, North America and South Africa. We offer over 100
packaging and paper products, customised into more than 100,000 different
solutions for customers and end consumers. In 2014, Mondi had revenues of
EUR6.4 billion and a return on capital employed of 17.2%.
The Mondi Group is fully integrated across the packaging and paper value chain
- from managing forests and producing pulp, paper and compound plastics, to
developing effective and innovative industrial and consumer packaging
solutions. Our innovative technologies and products can be found in a variety
of applications including hygiene components, stand-up pouches, super-strong
cement bags, clever retail boxes and office paper. Our key customers are in
industries such as automotive; building and construction; chemicals; food and
beverage; home and personal care; medical and pharmaceutical; packaging and
paper converting; pet care; and office and professional printing.
Mondi has a dual listed company structure, with a primary listing on the JSE
Limited for Mondi Limited under the ticker code MND and a premium listing on
the London Stock Exchange for Mondi plc, under the ticker code MNDI.
For us, acting sustainably makes good business sense. We don't just talk about
sustainability; we make it part of the way we work every day. We have been
included in the FTSE4Good Index Series since 2008 and the JSE's Socially
Responsible Investment (SRI) Index since 2007.
Sponsor in South Africa: UBS South Africa (Pty) Ltd