In the first quarter of 2010 the Mayr-Melnhof Group was again able to hold its ground firmly. While the beginning of last year was still characterized by heavily decreasing of customer stocks due to high insecurity with respect to the progression of demand, recent quarters were however marked by a significant step-up in cartonboard demand from Europe and overseas. Thus, we have been able to start the business year 2010 in both, cartonboard and folding carton production, with a high utilization of capacities. This pronounced increase in cartonboard production however went along with a sharp increase in recovered paper prices.
Price pressure on the European end-market was ongoing and the cartonboard price increase which was announced throughout the industry only took place very hesitantly. Due to high productivity in both divisions as well as selective order management in the cartonboard business we succeeded however in keeping the Group’s earnings strength, increasing sales and profit parallel to the higher volume.
