Mayr-Melnhof Karton AG Demonstrates Resilience and Operational Strength in Q1 2026

Mayr-Melnhof Karton AG (MM Group) delivered a resilient performance in the first quarter of 2026, successfully navigating a challenging market environment through strong operational execution and continued progress in its strategic transformation program.

Resilient Performance in Challenging Conditions

The first quarter was characterized by subdued consumer demand, intense competitive pressure, and structural overcapacity across the industry. In addition, escalating geopolitical tensions—particularly in the Middle East—led to increased cost pressure in energy, transportation, and raw materials.

Despite these headwinds, MM Group maintained stable performance on a comparable basis, demonstrating the strength and flexibility of its business model.

Fit-for-Future Program Delivers Results

A central driver of resilience was the company’s Fit-for-Future program, which continued to deliver strong results across the Group.

The program focuses on:

• Enhancing operational efficiency

• Reducing fixed costs

• Streamlining processes

• Strengthening long-term competitiveness

Significant progress in these areas helped offset external cost pressures and supported stable earnings development during the quarter.

Solid Performance Across Business Segments

MM’s diversified business portfolio contributed to overall stability:

• Food & Premium Packaging maintained solid margins despite lower volumes, supported by consistent cost discipline and efficiency improvements.

• Pharma & Healthcare Packaging achieved encouraging performance, driven by operational efficiencies and resilient demand in key markets.

• Board & Paper ensured stable production levels and high capacity utilization, supporting consistent operational performance despite market pressures.

Proactive Response to Market and Cost Pressures

From March onwards, rising geopolitical tensions significantly impacted cost structures, particularly in energy and logistics. MM responded proactively by strengthening cost controls and maintaining a disciplined operational approach.

At the same time, the company continued to adapt to changing market dynamics, focusing on maintaining efficiency and safeguarding profitability in a volatile environment.

Outlook: Focus on Sustainable Value Creation

Looking ahead, MM expects market conditions to remain challenging, with ongoing uncertainty in demand and cost developments. However, the company remains well-positioned to navigate these conditions.

The Fit-for-Future program is progressing ahead of expectations, supported by a strong pipeline of efficiency and optimization initiatives across all divisions.

MM remains committed to creating sustainable value through:

• Operational excellence

• Cost discipline

• Strategic positioning of its business and production sites