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

MONDI (MNDI)
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Delayed Quote. Delayed  - 07/20 05:35:13 pm
2044 GBp   -1.35%
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Mondi : Packaging and paper firm Mondi denies restructure rumours

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05/12/2017 | 04:38pm CEST

JOHANNESBURG (Reuters) - 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.

JOHANNESBURG (Reuters) - 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
Stocks mentioned in the article
ChangeLast1st jan.
MONDI -1.35% 2044 Delayed Quote.5.85%
MONDI LIMITED -0.47% 360.47 End-of-day quote.13.71%
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Financials (€)
Sales 2018 7 661 M
EBIT 2018 1 154 M
Net income 2018 800 M
Debt 2018 1 954 M
Yield 2018 3,12%
P/E ratio 2018 13,80
P/E ratio 2019 13,05
EV / Sales 2018 1,72x
EV / Sales 2019 1,63x
Capitalization 11 227 M
Chart MONDI
Duration : Period :
Mondi Technical Analysis Chart | MNDI | GB00B1CRLC47 | 4-Traders
Technical analysis trends MONDI
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 26,2 €
Spread / Average Target 14%
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$)
MONDI5.85%13 156
INTERNATIONAL PAPER COMPANY-8.80%22 075
WESTROCK-9.03%14 820
MONDI LIMITED13.71%13 156
PCA - PACKAGING CORPORATION OF AMERICA-4.02%10 972
SMURFIT KAPPA GROUP PLC21.93%9 612