16 February 2010
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000097051
Mondi plc
(Incorporated in England and Wales)
(Registration number: 6209386)
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
Mondi Group: Trading Statement
As part of the dual listed company structure, Mondi Limited and Mondi plc
(together 'Mondi Group') notify both the JSE Limited and the London Stock
Exchange of matters required to be disclosed under the JSE Listings
Requirements and/or the Disclosure and Transparency and Listing Rules of the
United Kingdom Listing Authority.
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited,
companies are required to publish a trading statement as soon as they become
reasonably certain that the financial results for the period to be reported on
next will differ by at least 20% from those of the previous corresponding
period.
Mondi is currently finalising its results for the year ended 31 December 2009,
which will be released on 23 February 2010. It can now be confirmed that Group
underlying operating profit for the second half of 2009 is expected to be above
that of the first half but below that of the comparable period in 2008.
Furthermore, results for the year ended 31 December 2009 have been impacted by
a net special items charge for the period of circa €128 million (2008: €383
million), primarily relating to the early actions taken to restructure the
Group in response to prevailing market conditions. €78 million of this charge
was taken in the first half with a further circa €50 million taken in the
second half mainly related to a goodwill impairment in Europapier, asset
impairment costs in Austria and Germany and restructuring costs associated with
the mothballing of the paper machine at the Merebank mill in South Africa.
Accordingly, Mondi advises that it expects full year earnings per share ('EPS')
to be within the ranges shown below:
Basic underlying earnings per share (euro cents per share) 16 to 20 (2008 33.9)
Basic headline earnings per share (euro cents per share) 9 to 13 (2008 20.3)
Basic loss per share (euro cents per share) -4 to -8 (2008 41.6 loss).
Mondi has disclosed basic underlying EPS, which is defined as basic EPS
excluding the impact of special items, as the directors believe this provides a
useful additional measure of the Group's underlying performance. The disclosure
of basic headline EPS is required under the Listings Requirements of the JSE
Limited and has been calculated in accordance with Circular 3/2009 as issued by
the South African Institute of Chartered Accountants.
The above information has neither been reviewed nor audited by Mondi's
auditors.
End
Contact details:
Mondi Group
David Hathorn +27 11 994 5418
Andrew King +27 11 994 5415
Kerry Crandon +27 11 994 5425
Financial Dynamics
Sophie Kernon +44 20 7269 7225
Chloe Webb +27 11 214 2421
Editors' notes:
Mondi is an international paper and packaging group and in 2008 had revenues of
€6.3 billion. Its key operations and interests are in western Europe, emerging
Europe, Russia and South Africa.
The Group is principally involved in the manufacture of uncoated fine paper
(UFP), packaging paper and converted packaging products as well as speciality
products.
Mondi is fully integrated across the paper and packaging process, from the
growing of wood and manufacture of pulp and paper (including recycled paper) to
the converting of packaging papers into corrugated packaging and industrial
bags.
Mondi has production operations across 35 countries and had an average of
33,400 employees in 2008.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.