New Risk • Aug 23
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 3.6% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (111% cash payout ratio). Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: €7.25 (vs €1.30 in 2Q 2024) Second quarter 2025 results: EPS: €7.25 (up from €1.30 in 2Q 2024). Revenue: €987.4m (down 3.1% from 2Q 2024). Net income: €142.7m (up 450% from 2Q 2024). Profit margin: 14% (up from 2.5% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. 공시 • Jun 03
Evergreen Hill Enterprise Pte. Ltd. acquired Tannpapier Gmbh from Mayr-Melnhof Karton AG (WBAG:MMK). Evergreen Hill Enterprise Pte. Ltd. agreed to acquire Tannpapier Gmbh from Mayr-Melnhof Karton AG (WBAG:MMK) for an enterprise value of €360 million on December 18, 2024. Tannpapier Gmbh comprises 7 production sites in Austria, China, the Philippines, Turkey, Canada and Germany and a global workforce of around 730 employees, who will join Evergreen Hill Enterprise, Pte. Ltd. For the period ending December 31, 2023, Tannpapier Gmbh reported total revenue of €220 million. The transaction, which is subject to usual completion conditions and regulatory approvals, is expected to be closed in the first quarter of 2025. Jefferies acted as financial advisor to Evergreen Hill in the transaction. Florian Khol and Christoph Schober, Clemens Willvonseder, Stefan Tiefenthaler, Regina Kröll of BINDER GRÖSSWANG Rechtsanwälte GmbH act as legal advisor for Mayr-Melnhof Karton AG.
Evergreen Hill Enterprise Pte. Ltd. completed the acquisition of Tannpapier Gmbh from Mayr-Melnhof Karton AG (WBAG:MMK) on June 2, 2025. Christian Ritschka of Dorda Brugger Jordis Rechtsanwälte GmbH act as legal advisor for Evergreen Hill Enterprise Pte. Ltd. Upcoming Dividend • May 01
Upcoming dividend of €1.80 per share Eligible shareholders must have bought the stock before 07 May 2025. Payment date: 14 May 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (3.4%). Reported Earnings • Apr 11
Full year 2024 earnings released: EPS: €5.41 (vs €4.36 in FY 2023) Full year 2024 results: EPS: €5.41 (up from €4.36 in FY 2023). Revenue: €4.08b (down 2.0% from FY 2023). Net income: €108.2m (up 24% from FY 2023). Profit margin: 2.7% (up from 2.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 21
Dividend increased to €1.80 Dividend of €1.80 is 20% higher than last year. Ex-date: 7th May 2025 Payment date: 14th May 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 114% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Mar 20
Mayr-Melnhof Karton AG announces Annual dividend, payable on May 14, 2025 Mayr-Melnhof Karton AG announced Annual dividend of EUR 1.8000 per share payable on May 14, 2025, ex-date on May 07, 2025 and record date on May 08, 2025. 공시 • Mar 12
Mayr-Melnhof Karton AG to Report Fiscal Year 2024 Final Results on Apr 09, 2025 Mayr-Melnhof Karton AG announced that they will report fiscal year 2024 final results at 11:30 AM, Central European Standard Time on Apr 09, 2025 공시 • Jan 27
Mayr-Melnhof Karton AG, Annual General Meeting, Apr 30, 2025 Mayr-Melnhof Karton AG, Annual General Meeting, Apr 30, 2025. 공시 • Dec 20
Evergreen Hill Enterprise Pte. Ltd. agreed to acquire Tannpapier Gmbh from Mayr-Melnhof Karton AG (WBAG:MMK) for an enterprise value of €360 million. Evergreen Hill Enterprise Pte. Ltd. agreed to acquire Tannpapier Gmbh from Mayr-Melnhof Karton AG (WBAG:MMK) for an enterprise value of €360 million on December 18, 2024. Tannpapier Gmbh comprises 7 production sites in Austria, China, the Philippines, Turkey, Canada and Germany and a global workforce of around 730 employees, who will join Evergreen Hill Enterprise, Pte. Ltd.
For the period ending December 31, 2023, Tannpapier Gmbh reported total revenue of €220 million.
The transaction, which is subject to usual completion conditions and regulatory approvals, is expected to be closed in the first quarter of 2025. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: €0.72 (vs €1.38 in 3Q 2023) Third quarter 2024 results: EPS: €0.72 (down from €1.38 in 3Q 2023). Revenue: €1.02b (up 1.0% from 3Q 2023). Net income: €14.4m (down 48% from 3Q 2023). Profit margin: 1.4% (down from 2.7% in 3Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Packaging industry in Europe. New Risk • Aug 23
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: €1.30 (vs €1.41 in 2Q 2023) Second quarter 2024 results: EPS: €1.30 (down from €1.41 in 2Q 2023). Revenue: €1.02b (down 3.8% from 2Q 2023). Net income: €26.0m (down 7.3% from 2Q 2023). Profit margin: 2.5% (in line with 2Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Packaging industry in Europe. New Risk • Apr 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.6% net profit margin). Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: €0.52 (vs €1.71 in 1Q 2023) First quarter 2024 results: EPS: €0.52 (down from €1.71 in 1Q 2023). Revenue: €1.03b (down 8.7% from 1Q 2023). Net income: €10.9m (down 68% from 1Q 2023). Profit margin: 1.1% (down from 3.1% in 1Q 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Packaging industry in Europe. Upcoming Dividend • Apr 23
Upcoming dividend of €1.50 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 08 May 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.4%). Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: €4.36 (vs €17.19 in FY 2022) Full year 2023 results: EPS: €4.36 (down from €17.19 in FY 2022). Revenue: €4.16b (down 11% from FY 2022). Net income: €89.1m (down 74% from FY 2022). Profit margin: 2.1% (down from 7.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 2.7% growth forecast for the Packaging industry in Europe. 공시 • Mar 07
Mayr-Melnhof Karton AG to Report Fiscal Year 2023 Final Results on Apr 03, 2024 Mayr-Melnhof Karton AG announced that they will report fiscal year 2023 final results at 8:30 AM, Central European Standard Time on Apr 03, 2024 Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: €1.38 (vs €5.43 in 3Q 2022) Third quarter 2023 results: EPS: €1.38 (down from €5.43 in 3Q 2022). Revenue: €1.02b (down 18% from 3Q 2022). Net income: €27.6m (down 75% from 3Q 2022). Profit margin: 2.7% (down from 8.8% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Packaging industry in Europe. 공시 • Aug 11
Mayr-Melnhof Karton AG, Annual General Meeting, Apr 24, 2024 Mayr-Melnhof Karton AG, Annual General Meeting, Apr 24, 2024.