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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Mondi    MNDI   GB00B1CRLC47

MONDI (MNDI)
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Mondi : Packaging and paper firm Mondi denies restructure rumours

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05/12/2017 | 04:38pm CEST

Mondi Group (>> Mondi Limited) denied on Friday that its new Chief Executive Peter Oswald was planning to restructure the packaging and paper company but confirmed it would move some of its Johannesburg functions to its Vienna office.

Mondi Group (>> Mondi Limited) denied on Friday that its new Chief Executive Peter Oswald was planning to restructure the packaging and paper company but confirmed it would move some of its Johannesburg functions to its Vienna office.

The CEO, who officially succeeded David Hathorn on Thursday, said he would continue the plans of his predecessor and was committed to maintaining the company's expansion strategy.

Oswald, who previously ran the company's Europe and international division, said Mondi had identified a number of acquisitions in the short term to boost the packaging businesses, without giving further details.

Austrian weekly Trend said on Friday Oswald planned to restructure Mondi and move its global headquarters to Vienna.

"The new CEO Peter Oswald is currently based in Vienna and is going to stay there, so it's no change at all. Some of the financial reporting support roles that are currently based here (Johannesburg), make more sense for them to be based closer to the new CEO," Mondi's communications manager Kerry Cooper said.

The Johannesburg corporate office in South Africa, which employs 25 people, will be retained as some functions move to the Vienna office, the biggest in the group, and the firm will still be listed on the Johannesburg Stock exchange.

Cooper said the group's South African operations and employees would not be affected by these changes.

Mondi, which is also listed in London (>> Mondi Plc), operates corporate offices in South Africa, London and Vienna. Hathorn was based in the Johannesburg office.

"It's not really a major change for us at all, it is business as usual here in South Africa," Cooper said.

(Reporting by Nqobile Dludla; editing by Susan Thomas)

Stocks treated in this article : Mondi Limited, Mondi Plc
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Financials (€)
Sales 2017 7 192 M
EBIT 2017 1 037 M
Net income 2017 694 M
Debt 2017 1 248 M
Yield 2017 3,02%
P/E ratio 2017 14,46
P/E ratio 2018 13,27
EV / Sales 2017 1,60x
EV / Sales 2018 1,53x
Capitalization 10 236 M
Chart MONDI
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Mondi Technical Analysis Chart | MNDI | GB00B1CRLC47 | 4-Traders
Technical analysis trends MONDI
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 24,7 €
Spread / Average Target 17%
EPS Revisions
Managers
NameTitle
Peter Josef Oswald Group CEO, Executive Director & CEO-Europe
David Michael Williams Co-Chairman
Tshamano Mohau Frederik Phaswana Co-Chairman
Andrew King Chief Financial Officer & Executive Director
John Lindahl Group Technical Director
Sector and Competitors
1st jan.Capitalization (M$)
MONDI14.05%12 061
INTERNATIONAL PAPER CO9.35%24 036
WESTROCK CO17.39%15 375
MONDI LIMITED20.67%12 061
PACKAGING CORP OF AMERICA37.26%11 167
NINE DRAGONS PAPER HOLDINGS LIMITED110.81%8 873