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

MONDI (MNDI)
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Mondi : South Africa's Mondi to buy Russian packaging firm Beepack

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10/10/2016 | 02:25pm CEST

South Africa's Mondi (>> Mondi Limited) has signed an agreement to acquire Beepack from a private investor for 41 million euros (37 million pounds) as part of plans to expand its packaging business, the paper group said on Monday.

South Africa's Mondi (>> Mondi Limited) has signed an agreement to acquire Beepack from a private investor for 41 million euros (37 million pounds) as part of plans to expand its packaging business, the paper group said on Monday.

Mondi, which is also listed in London (>> Mondi Plc), expects to complete the transaction in the fourth quarter, with CEO David Hathorn saying that the Russian business will support the development of Mondi's Corrugated Packaging operations in central and eastern Europe.

"It enables us to enter a market with strong growth potential while expanding our geographic reach to better serve our customers," Hathorn said.

Beepack generated revenue of 2.78 billion roubles ($45 million) in the year to Dec. 31, 2015, with adjusted earnings before interest, tax, depreciation and amortisation of 462 million roubles, Mondi said in a statement.

The Russian company's Lebedyan plant about 400 km south of Moscow makes a range of corrugated packaging trays and boxes for food and agricultural products, including beverages, fruit and vegetables, poultry and dairy produce.

Mondi, which has operations in more than 30 countries, makes and sells consumer packaging and paper products as part of its Europe and International division's Packaging Paper business.

In February Hathorn told Reuters that Mondi could borrow to fund acquisitions after spending 94 million euros buying consumer packaging businesses last year.

(Reporting by Nqobile Dludla; Editing by David Goodman)

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
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Mondi Technical Analysis Chart | MNDI | GB00B1CRLC47 | 4-Traders
Technical analysis trends MONDI
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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