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Three Russian packaging converting operations, including Mondi Lebedyan corrugated packaging plant and two plants for the production of flexible packaging, went to the Russian Gotek Group
Mondi has received net proceeds of €30.4m from this disposal into its Austrian bank account. This amount will be distributed to shareholders, once the company’s exit from Russia has been completed.
The proposed disposal of Mondi Syktyvkar, Mondi’s most significant facility in Russia, is not connected with the disposal of the three packaging converting operations and still underway. The group’s board remains committed to divest Syktyvkar and continues to assess all alternative divestment options.
For reference
In 2022, Mondi had revenues of €8.9bn and underlying EBITDA of €1.8bn from continuing operations; the company employed 22,000 people worldwide.
Mondi’s operations in Russia represented 12% of the Group’s revenue by location of production in 2021 and, over the three year period from 2019 to 2021, generated 20% of the Group’s underlying EBITDA. Mondi has operated in Russia for over 22 years and invested about €1.6bn.
The Syktyvkar mill can produce 1.2m tonnes of market pulp and paper, including 300,000 tonnes of kraftliner, 200,000 tonnes of woodfree uncoated paper and 180,000 tonnes of newsprint.
For the year ended 31 December 2021, Syktyvkar reported revenues of €821m, EBITDA of €334m and profit before tax of €271m. The business employs approximately 4,500 people.
gofro.expert
