Mondi reports €379 million EBITDA in H1 2026 amid cost pressures and supply chain challenges
Mondi has reported underlying EBITDA of €379 million for the first half of 2026, compared with €564 million in the same period last year, as higher input costs and lower average selling prices weighed on profitability despite stronger sales volumes and pricing initiatives.
The company recorded a forestry fair value loss of €35 million during the period, compared with a €18 million fair value gain in the first half of 2025. Basic underlying earnings declined to 11.6 euro cents per share from 42.7 euro cents a year earlier.
Cash generated from operations reached €347 million, supported by disciplined working capital management, while capital expenditure guidance for the full year was reduced to around €500 million from the previously announced €550 million. Mondi said the adjustment reflects its continued focus on disciplined capital allocation as major expansion projects near completion.
The company also continued to advance its plant network optimisation programme, with six manufacturing facilities either closed or currently undergoing closure. In addition, Mondi recognised a pre-tax special items charge of €320 million, primarily related to impairments and restructuring activities, with an expected cash impact of €24 million.
The board declared an interim ordinary dividend of 9.42 euro cents per share, compared with 23.33 euro cents in the corresponding period last year.
Mondi Group CEO Andrew King said the company made solid progress during the first half by strengthening operational performance, improving cash generation and enhancing competitiveness. He noted that pricing actions, cost discipline and operational excellence initiatives helped offset challenging market conditions.
King added that geopolitical tensions in the Middle East disrupted supply chains and increased input costs, prompting the company to act quickly to maintain operational continuity, support customers and implement price increases across its packaging and paper portfolio.
Looking ahead, Mondi expects stronger packaging paper prices in the second half of the year, supported by healthy order books. While higher wood costs in Central and Eastern Europe and continued energy cost volatility remain challenges, the company believes its integrated manufacturing network, innovative sustainable packaging solutions and disciplined commercial strategy position it well for long-term growth and value creation.
