Mondi has been recognised in this year’s Austrian Green Star Packaging Awards for two recent sustainable packaging innovations developed using its customer-centric approach, EcoSolutions: PerFORMing - paper-based packaging with special barrier coating to protect cheese slices - Austria’s biggest retailer REWE worked together with Mondi to launch a more sustainable cheese tray for their organic brand Ja! Natürlich. Mondi developed a special kraft paper, Advantage Formable Brown, to replace rigid plastic trays. Its unique stretch characteristics mean it can be formed into a shallow tray enhanced with a special barrier coating. Fully recyclable thermoforming plastic film for meat - Mondi was able to reinvent packaging for Austrian meat producer Hütthaler. The packaging was designed for recycling while maintaining optimum barrier properties and replacing a previous, less sustainable, packaging.

Net sales of $1.2 billion increased 2% as reported. Currency had a negative impact on total net sales of $12 million or approximately 1%. Net earnings were $132 million, or $0.85 per diluted share. Special Items, which were largely due to one-time net tax related benefits, contributed $5 million to net earnings. This compares to third quarter 2019 net earnings of $80 million, or $0.51 per diluted share, which were unfavorably impacted by $20 million of Special Items, including restructuring and restructuring associated costs of $15 million, net of tax.

The company reported net sales of $426.5 million for the third quarter of 2017, down 2.0% compared to net sales of $435.3 million for the third quarter of 2016. Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the third quarter of 2017 were $0.9 million, or $0.05 per diluted share, comparable to net earnings for the third quarter of 2016 of $0.9 million, or $0.05 per diluted share, as a $2.4 million tax benefit from Federal tax credits in the third quarter of 2017 more than offset a pre-tax loss of $2.2 million for the quarter. Excluding certain non-core items identified in the attached Reconciliation of Non-GAAP Financial Measures, third quarter 2017 adjusted net earnings were $5.3 million, or $0.32 per diluted share, compared to third quarter 2016 adjusted net earnings of $2.4 million, or $0.14 per diluted share. Earnings before interest, taxes, depreciation and amortization, or EBITDA, were $31.3 million for the third quarter of 2017 compared to $32.0 million for the third quarter of 2016. Adjusted EBITDA for the quarter was $37.6 million, up 9.7% compared to third quarter 2016 Adjusted EBITDA of $34.3 million. Click Read More below for additional information.