Mondi has recorded underlying EBITDA of €196m ($220.2m) in the three months to 30 September 2026 (Q3 2026).
The result included a nil forestry fair value gain, compared with underlying EBITDA of €167m in the preceding quarter, which included a €43m forestry fair value loss.
Underlying EBITDA excluding forestry fair value was “lower sequentially”, mainly because of planned maintenance shuts during the quarter.
However, the firm's underlying EBITDA was 12.1% lower than that recorded in Q3 2025.
In Q3 2026, higher average selling prices helped offset increased input costs, supported by good order books and “positive price momentum”, noted the packaging firm.
According to the firm, input costs were “higher than expected” due to continued rise in energy-linked costs.
Wood costs in Central and Eastern Europe also rose as anticipated, it added.
Mondi announced additional price increases for several paper grades during the quarter in response to higher energy-related costs.
The measures were also supported by good order books. The financial impact is expected to be seen towards the end of 2026 and during 2027.
Corrugated Packaging benefited from higher Containerboard prices, which offset increased input costs.
Corrugated Solutions margins remained under pressure from competition and the delay in passing higher paper prices through to customers.
Uncoated Fine Paper recorded weaker seasonal demand alongside higher input costs.
In Flexible Packaging, price increases in Kraft Paper and Paper Bags offset higher input costs. Consumer Solutions performed well, supported by resilient order books and pricing actions.
Mondi reported a “nil” forestry fair value gain in the third quarter, which was “significantly impacted” by the recent rise in energy prices.
It said energy prices remained highly volatile and difficult to forecast. If current prices continue, particularly South African diesel prices, the group expects another nil forestry fair value gain in the fourth quarter.
The company said it would continue work on operational excellence, cost optimisation, and improving the efficiency of its plant network to limit the effect of fixed-cost inflation and support the competitiveness of the business.
Mondi also said it was continuing to transfer customer volumes from converting plants scheduled to close later this year.
At the end of September, the firm sold one solid board converting plant and agreed to sell a second as part of further changes to its converting plant network.
Mondi Group CEO Andrew King said: “We delivered a resilient performance in the third quarter against a backdrop of rising input costs, with good order books supporting positive price momentum. We continued to make progress on operational excellence, cost optimisation and improving the efficiency of our plant network to enhance competitiveness. As we enter the fourth quarter, higher packaging paper prices are expected to support performance, notwithstanding ongoing input cost pressures.”
