Lower sales Austria’s Mayr-Melnhof has announced that, at €4.16 billion, the group's 2023 consolidated sales stood 11.1%, or €517.7 million, below MM’s figure for 2022.
“A volume- and price-related decline in the division MM Board & Paper, was offset by an acquisition-related increase in the division MM Packaging,” the business said in a statement.
Peter Oswald, the CEO of MM, commented that, following “the record result of the previous year, the MM Group faced a significantly lower demand in the paper and cartonboard industry as well as increasing price pressure in 2023. In addition to destocking in the supply chain, inflation-related changes in consumer behaviour which led to lower consumption of everyday goods and the overall economic slowdown in our European main markets were the main causes.”