{"id":42010,"date":"2025-04-29T08:04:06","date_gmt":"2025-04-29T06:04:06","guid":{"rendered":"https:\/\/mm-test.digilicious.cloud\/?post_type=press-release&#038;p=42010"},"modified":"2025-04-29T08:04:12","modified_gmt":"2025-04-29T06:04:12","slug":"ergebnisse-zum-1-quartal-2025","status":"publish","type":"press-release","link":"https:\/\/mm-test.digilicious.cloud\/de\/news\/press-releases\/ergebnisse-zum-1-quartal-2025\/","title":{"rendered":"Ergebnisse zum 1. Quartal 2025"},"content":{"rendered":"<section id=\"block_1a0e9f44c483a2c34719dfa53fce3e09\" data-block_1a0e9f44c483a2c34719dfa53fce3e09 class=\"content-basic align transparent  container-bg \">\n  <div class=\"container\">\n    <div class=\"info_basic \">\n      <div class=\"section-info mb-10 max-w-[833px] \">\n                                    <div class=\"section_text \"><ul>\n<li>Deutlicher Ergebnisanstieg gegen\u00fcber 1. Quartal des Vorjahres<\/li>\n<li>Nachfrage bleibt schwach<\/li>\n<li>MM setzt auf Kosten-, Technologie- und Innovationsf\u00fchrerschaft<\/li>\n<\/ul>\n<\/div>\n                \n            <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_6349ba602f1f0b8e1dfced467d1592e2\" data-block_6349ba602f1f0b8e1dfced467d1592e2 class=\"list-downloads align transparent  container-bg  py-10 md:py-20\">\n  <div class=\"container\">\n    <div class=\"section-info mb-10 max-w-[833px] \">\n                            <h2 class=\"title mb-4\">Downloads<\/h2>\n                        \n            <\/div>\n          <div class=\"downloads-wrapper mt-10 grid grid-cols-1 gap-x-8 gap-y-10 \">\n                               <a href=\"https:\/\/mm-test.digilicious.cloud\/wp-content\/uploads\/MM-Ergebnisse-zum-1.-Quartal-2025.pdf\" class=\"card-download \" target=\"_blank\" >\n        <div class=\"top-download\">\n                            <div class=\"download-title\">Ergebnisse zum 1. Quartal 2025<\/div>\n                        <div class=\"download-icon\">\n                                    <svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<mask id=\"mask0_3969_27664\" style=\"mask-type:luminance\" maskUnits=\"userSpaceOnUse\" x=\"0\" y=\"0\" width=\"20\" height=\"20\">\n<path d=\"M0 1.90735e-06H20V20H0V1.90735e-06Z\" fill=\"white\"\/>\n<\/mask>\n<g mask=\"url(#mask0_3969_27664)\">\n<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M1.21094 20H18.7891V14.1406H17.6172V18.8281H2.38281V14.1406H1.21094V20Z\" fill=\"currentColor\"\/>\n<\/g>\n<path d=\"M10.0795 13.2427L10.0795 0.832031L10.2513 0.832031L10.2513 13.2427L10.2513 14.5633L11.1259 13.5739L16.8295 7.12167L16.9583 7.2355L10.2432 14.832L10.0876 14.832L3.37249 7.2355L3.50126 7.12167L9.20483 13.5739L10.0795 14.5633L10.0795 13.2427Z\" fill=\"currentColor\" stroke=\"currentColor\"\/>\n<\/svg>\n                            <\/div>\n        <\/div>\n            <\/a>\n              <\/div>\n      \n  <\/div>\n<\/section>\n\n\n<section id=\"block_2d21a20033d8f1c715985f53998f6adc\" data-block_2d21a20033d8f1c715985f53998f6adc class=\"content-basic align transparent  container-bg \">\n  <div class=\"container\">\n    <div class=\"info_basic \">\n      <div class=\"section-info mb-10 max-w-[833px] \">\n                            <h2 class=\"title mb-4\">Konzernkennzahlen &#8211; IFRS<\/h2>\n                            <div class=\"section_text \"><div class=\"row\">\n<div class=\"col-12 col-lg-9 col-xl-7 col-xxl-6 offset-lg-1 offset-xxl-2\">\n<section class=\"content-element--fce-file--table\">\n<section>\n<div class=\"\">\n<div class=\"row\">\n<table width=\"633\">\n<tbody>\n<tr>\n<td width=\"321\">(konsolidiert, in Mio. EUR, nach IFRS)<\/td>\n<td width=\"117\"><strong>Q1\/2025<\/strong><\/td>\n<td width=\"117\">Q1\/2024<\/td>\n<td width=\"78\">+\/-<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Umsatzerl\u00f6se<\/strong><\/td>\n<td width=\"117\"><strong>1.042,6<\/strong><\/td>\n<td width=\"117\">1.025,0<\/td>\n<td width=\"78\">+1,7 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigtes EBITDA<\/strong><\/td>\n<td width=\"117\"><strong>119,3<\/strong><\/td>\n<td width=\"117\">94,5<\/td>\n<td width=\"78\">+26,2 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Bereinigte EBITDA Margin (%)<\/td>\n<td width=\"117\"><strong>11,4 %<\/strong><\/td>\n<td width=\"117\">9,2 %<\/td>\n<td width=\"78\">+222 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigtes betriebliches Ergebnis<\/strong><\/td>\n<td width=\"117\"><strong>61,0<\/strong><\/td>\n<td width=\"117\">39,6<\/td>\n<td width=\"78\">+53,7 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigte Operating Margin (%)<\/strong><\/td>\n<td width=\"117\"><strong>5,8 %<\/strong><\/td>\n<td width=\"117\">3,9 %<\/td>\n<td width=\"78\">+198 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Betriebliches Ergebnis<\/td>\n<td width=\"117\"><strong>55,5<\/strong><\/td>\n<td width=\"117\">39,6<\/td>\n<td width=\"78\">+39,9 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Return on Capital Employed<sup>1) <\/sup>(%)<\/td>\n<td width=\"117\"><strong>6,2 %<\/strong><\/td>\n<td width=\"117\">5,4 %<\/td>\n<td width=\"78\">+79 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Ergebnis vor Steuern<\/strong><\/td>\n<td width=\"117\"><strong>31,8<\/strong><\/td>\n<td width=\"117\">18,0<\/td>\n<td width=\"78\">+76,4 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Steuern vom Einkommen und Ertrag<\/td>\n<td width=\"117\"><strong>(10,7)<\/strong><\/td>\n<td width=\"117\">(7,1)<\/td>\n<td width=\"78\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Perioden\u00fcberschuss<\/strong><\/td>\n<td width=\"117\"><strong>21,1<\/strong><\/td>\n<td width=\"117\">10,9<\/td>\n<td width=\"78\">+94,1 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">in % Umsatzerl\u00f6se<\/td>\n<td width=\"117\"><strong>2,0 %<\/strong><\/td>\n<td width=\"117\">1,1 %<\/td>\n<td width=\"78\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Gewinn je Aktie (in EUR)<\/td>\n<td width=\"117\"><strong>1,04<\/strong><\/td>\n<td width=\"117\">0,52<\/td>\n<td width=\"78\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit<\/strong><\/td>\n<td width=\"117\"><strong>(128,2)<\/strong><\/td>\n<td width=\"117\">52,5<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Free Cash Flow<\/strong><\/td>\n<td width=\"117\"><strong>(183,5)<\/strong><\/td>\n<td width=\"117\">(38,5)<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Mitarbeiter<sup>2)<\/sup><\/td>\n<td width=\"117\"><strong>14.526<\/strong><\/td>\n<td width=\"117\">14.710<\/td>\n<td width=\"78\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Investitionen<\/td>\n<td width=\"117\"><strong>55,7<\/strong><\/td>\n<td width=\"117\">92,8<\/td>\n<td width=\"78\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Abschreibungen<sup>3)<\/sup><\/td>\n<td width=\"117\"><strong>58,3<\/strong><\/td>\n<td width=\"117\">54,9<\/td>\n<td width=\"78\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"row justify-content-center\">\n<div class=\"fce-table-wrapper\">\n<div class=\"table-responsive mCustomScrollbar _mCS_1 mCS_no_scrollbar\">\n<div id=\"mCSB_1\" class=\"mCustomScrollBox mCS-inset-custom mCSB_horizontal mCSB_inside\" style=\"max-height: none;\" tabindex=\"0\">\n<div id=\"mCSB_1_container\" class=\"mCSB_container mCS_x_hidden mCS_no_scrollbar_x\" dir=\"ltr\" style=\"position: relative; top: 0px; left: 0px; width: 100%;\"><small><sup>1)<\/sup> Die Berechnung bezieht sich auf die letzten zw\u00f6lf Monate.<br \/>\n<sup>2)<\/sup> exkl. Leiharbeiter; Vorjahreswert per 31. Dezember 2024<br \/>\n<sup>3)<\/sup> inkl. Wertminderungen auf Sachanlagen und immaterielle Verm\u00f6genswerte<\/small><\/div>\n<\/div>\n<\/div>\n<p>Peter Oswald, MM CEO: \u201eDie MM Gruppe verzeichnete im 1. Quartal 2025 einen deutlichen Ergebnisanstieg gegen\u00fcber dem 1. Quartal im Vorjahr. Die Marktlage und Mengenentwicklung zeigten sich selektiv leicht besser als im 4. Quartal, jedoch ohne sp\u00fcrbare Belebung und mit anhaltendem Margendruck.<\/p>\n<p>MM Food &amp; Premium Packaging gelang aufgrund von Produktivit\u00e4tssteigerungen und Kostensenkungen eine anhaltend starke Performance.<\/p>\n<p>MM Pharma &amp; Healthcare Packaging verzeichnete im Verlauf des 1. Quartals eine Marktnachfrage auf Vorjahresniveau, lag beim Ergebnis aber tiefer.<\/p>\n<p>MM Board &amp; Paper hat das Ergebnis gegen\u00fcber dem schwachen Vorjahreswert deutlich verbessert. Bei kontinuierlicher Auslastung zeigte das Preisniveau ein heterogenes Bild.\u201c<\/p>\n<p>\u201eAngesichts der weiterhin schwachen gesamtwirtschaftlichen Lage werden wir unsere Wettbewerbsf\u00e4higkeit weiter st\u00e4rken, indem wir Kosten senken und gleichzeitig Qualit\u00e4t, Nachhaltigkeit und Innovationskraft erh\u00f6hen.\u201c, so Oswald.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n                \n            <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_cea52cda80429bd252e72761b0a405b5\" data-block_cea52cda80429bd252e72761b0a405b5 class=\"content-basic align light-green  container-bg \">\n  <div class=\"container\">\n    <div class=\"info_basic \">\n      <div class=\"section-info mb-10 max-w-[833px] \">\n                            <h2 class=\"title mb-4\">Ergebnisrechnung<\/h2>\n                            <div class=\"section_text \"><p>Die konsolidierten Umsatzerl\u00f6se des Konzerns lagen mit 1.042,6 Mio. EUR leicht \u00fcber dem Vergleichswert des Vorjahres (Q1 2024: 1.025,0 Mio. EUR).<\/p>\n<p>Das bereinigte betriebliche Ergebnis erh\u00f6hte sich um 21,4 Mio. EUR von 39,6 Mio. EUR auf 61,0 Mio. EUR. Dieser Anstieg resultiert aus den Divisionen MM Board &amp; Paper und MM Food &amp; Premium Packaging. Die bereinigte Operating Margin des Konzerns lag bei 5,8 % (Q1 2024: 3,9 %).<\/p>\n<p>Finanzertr\u00e4ge beliefen sich auf 3,4 Mio. EUR (Q1 2024: 6,6 Mio. EUR). Der R\u00fcckgang der Finanzaufwendungen von -21,4 Mio. EUR auf -15,9 Mio. EUR resultiert gro\u00dfteils aus einem niedrigeren Zinsniveau f\u00fcr variabel verzinste Finanzierungen. Das \u201eSonstige Finanzergebnis \u2013 netto\u201c ver\u00e4nderte sich vorwiegend fremdw\u00e4hrungsbedingt von -6,8 Mio. EUR auf -11,2 Mio. EUR.<\/p>\n<p>Das Ergebnis vor Steuern erreichte 31,8 Mio. EUR nach 18,0 Mio. EUR im Vorjahr. Die Steuern vom Einkommen und Ertrag beliefen sich auf 10,7 Mio. EUR (Q1 2024: 7,1 Mio. EUR), woraus sich ein effektiver Konzernsteuersatz von 33,6 % (Q1 2024: 39,6 %) ermittelt.<\/p>\n<p>Der Perioden\u00fcberschuss erh\u00f6hte sich entsprechend von 10,9 Mio. EUR auf 21,1 Mio. EUR.<\/p>\n<\/div>\n                \n            <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n\n\n<section id=\"block_ac62778bf03bfbee13a8a7bd3c82a227\" data-block_ac62778bf03bfbee13a8a7bd3c82a227 class=\"content-basic align light-green  container-bg \">\n  <div class=\"container\">\n    <div class=\"info_basic \">\n      <div class=\"section-info mb-10 max-w-[833px] \">\n                            <h2 class=\"title mb-4\">Ausblick<\/h2>\n                            <div class=\"section_text \"><p>Angesichts der schwachen Nachfragesituation und hoher Unsicherheiten erwarten wir auf Sicht eine weiterhin schwierige Marktlage. Unsere Top-Priorit\u00e4t gilt daher der konsequenten St\u00e4rkung der Wettbewerbsf\u00e4higkeit der MM Gruppe durch die Verfolgung von Kosten-, Technologie- und Innovationsf\u00fchrerschaft. Unsere umfassenden Effizienzsteigerungsprogramme und Optimierungsma\u00dfnahmen sind gut auf Kurs und bieten MM auch in einem herausfordernden Umfeld Stabilit\u00e4t und R\u00fcckhalt. Das Closing des Verkaufs der TANN Gruppe erwarten wir unver\u00e4ndert im 1. Halbjahr 2025.<\/p>\n<\/div>\n                \n            <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_74b54a78937cdd6ccb1b77f7f8764ded\" data-block_74b54a78937cdd6ccb1b77f7f8764ded class=\"content-basic align transparent  container-bg \">\n  <div class=\"container\">\n    <div class=\"info_basic \">\n      <div class=\"section-info mb-10 max-w-[833px] \">\n                    <div class=\"pretitle accent-color mb-3\">Entwicklung in den Divisionen<\/div>\n                            <h2 class=\"title mb-4\">MM Food &#038; Premium Packaging<\/h2>\n                            <div class=\"section_text \"><div class=\"table-responsive mCustomScrollbar _mCS_2 mCS_no_scrollbar\">\n<div id=\"mCSB_2\" class=\"mCustomScrollBox mCS-inset-custom mCSB_horizontal mCSB_inside\" tabindex=\"0\">\n<div id=\"mCSB_2_container\" class=\"mCSB_container mCS_x_hidden mCS_no_scrollbar_x\" dir=\"ltr\">\n<section class=\"content-element--fce-file--table\">\n<section>\n<div class=\"\">\n<div class=\"row\">\n<table width=\"633\">\n<tbody>\n<tr>\n<td width=\"321\">(in Mio. EUR)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>Q1\/2025<\/strong><\/td>\n<td width=\"117\">Q1\/2024<\/td>\n<td width=\"78\">+\/-<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Umsatzerl\u00f6se<sup>1)<\/sup><\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>421,5<\/strong><\/td>\n<td width=\"117\">428,9<\/td>\n<td width=\"78\">-1,7 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigtes EBITDA<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>65,9<\/strong><\/td>\n<td width=\"117\">60,1<\/td>\n<td width=\"78\">+9,3 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigtes betriebliches Ergebnis<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>46,3<\/strong><\/td>\n<td width=\"117\">40,8<\/td>\n<td width=\"78\">+13,0 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigte Operating Margin (%)<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>11,0 %<\/strong><\/td>\n<td width=\"117\">9,5 %<\/td>\n<td width=\"78\">+144 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Betriebliches Ergebnis<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>46,3<\/strong><\/td>\n<td width=\"117\">40,8<\/td>\n<td width=\"78\">+13,0 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Capital Employed<sup>2)<\/sup><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>1.147,5<\/strong><\/td>\n<td width=\"117\">1.243,0<\/td>\n<td width=\"78\">-7,7 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Return on Capital Employed<sup>2)<\/sup> (%)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>16,1 %<\/strong><\/td>\n<td width=\"117\">17,1 %<\/td>\n<td width=\"78\">-98 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(31,2)<\/strong><\/td>\n<td width=\"117\">47,3<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Free Cash Flow<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(48,4)<\/strong><\/td>\n<td width=\"117\">25,8<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Investitionen<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>17,4<\/strong><\/td>\n<td width=\"117\">23,1<\/td>\n<td width=\"78\">-24,7 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Produzierte Menge (in Millionen m<sup>2<\/sup>)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>775<\/strong><\/td>\n<td width=\"117\">787<\/td>\n<td width=\"78\">-1,4 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"row justify-content-center\">\n<div class=\"fce-table-wrapper\">\n<div class=\"table-responsive mCustomScrollbar _mCS_2 mCS_no_scrollbar\">\n<div id=\"mCSB_2\" class=\"mCustomScrollBox mCS-inset-custom mCSB_horizontal mCSB_inside\" style=\"max-height: none;\" tabindex=\"0\">\n<div id=\"mCSB_2_container\" class=\"mCSB_container mCS_x_hidden mCS_no_scrollbar_x\" dir=\"ltr\" style=\"position: relative; top: 0px; left: 0px; width: 100%;\"><\/div>\n<div id=\"mCSB_2_scrollbar_horizontal\" class=\"mCSB_scrollTools mCSB_2_scrollbar mCS-inset-custom mCSB_scrollTools_horizontal\" style=\"display: none;\">\n<div class=\"mCSB_draggerContainer\">\n<div id=\"mCSB_2_dragger_horizontal\" class=\"mCSB_dragger\" style=\"position: absolute; min-width: 30px; width: 0px; left: 0px;\">\n<div class=\"mCSB_dragger_bar\"><\/div>\n<\/div>\n<div class=\"mCSB_draggerRail\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><small><sup>1)<\/sup> inklusive Umsatzerl\u00f6sen zwischen den Divisionen<br \/>\n<\/small><small><sup>2)<\/sup> Die Berechnung bezieht sich auf die letzten zw\u00f6lf Monate.<\/small><\/p>\n<p>Die Marktnachfrage f\u00fcr Faltschachteln zeigte im bisherigen Verlauf des Jahres 2025 weiterhin keine Belebung. Bedingt durch die schlechte Auslastung vieler Wettbewerber und den Kostendruck der Kunden befinden wir uns in einer anhaltenden Situation erheblichen Margendrucks.<\/p>\n<p>Um die Profitabilit\u00e4t der Division in dieser herausfordernden Situation zu sichern bzw. zu verbessern, setzten wir eine Vielzahl von Projekten zur Optimierung der Kosteneffizienz und Steigerung der Produktivit\u00e4t um.<\/p>\n<p>Am Markt verfolgen wird konsequent organisches Wachstum durch die systematische Gewinnung von Neugesch\u00e4ft, vor allem im Bereich der Plastiksubstitution wie auch durch striktes Kostenmanagement.<\/p>\n<p>Die Umsatzerl\u00f6se lagen mit 421,5 Mio. EUR (Q1 2024: 428,9 Mio. EUR) leicht unter dem Vergleichswert des Vorjahres. Das bereinigte betriebliche Ergebnis erh\u00f6hte sich von 40,8 Mio. EUR auf 46,3 Mio. EUR, wodurch eine gute bereinigte Operating Margin von 11,0 % (Q1 2024: 9,5 %) erreicht werden konnte. Der Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit ver\u00e4nderte sich vor allem durch einen Anstieg des Working Capitals auf -31,2 Mio. EUR (Q1 2024: 47,3 Mio. EUR).<\/p>\n<p>Die produzierte Menge lag mit 775 Millionen m<sup>2<\/sup> um 1,4 % unter dem Vorjahreswert (Q1 2024: 787 Millionen m<sup>2<\/sup>). Ein Gro\u00dfbrand in Polen hat die Mengenentwicklung beeinflusst.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n                \n            <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_2abfd70802c5e6deb695d50db50b4fb9\" data-block_2abfd70802c5e6deb695d50db50b4fb9 class=\"content-basic align transparent  container-bg \">\n  <div class=\"container\">\n    <div class=\"info_basic \">\n      <div class=\"section-info mb-10 max-w-[833px] \">\n                            <h2 class=\"title mb-4\">MM Pharma &#038; Healthcare Packaging<\/h2>\n                            <div class=\"section_text \"><div class=\"table-responsive mCustomScrollbar _mCS_3 mCS_no_scrollbar\">\n<div id=\"mCSB_3\" class=\"mCustomScrollBox mCS-inset-custom mCSB_horizontal mCSB_inside\" tabindex=\"0\">\n<div id=\"mCSB_3_container\" class=\"mCSB_container mCS_x_hidden mCS_no_scrollbar_x\" dir=\"ltr\">\n<section class=\"content-element--fce-file--table\">\n<section>\n<div class=\"\">\n<div class=\"row\">\n<table width=\"633\">\n<tbody>\n<tr>\n<td width=\"321\">(in Mio. EUR)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>Q1\/2025<\/strong><\/td>\n<td width=\"117\">Q1\/2024<\/td>\n<td width=\"78\">+\/-<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Umsatzerl\u00f6se<sup>1)<\/sup><\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>163,4<\/strong><\/td>\n<td width=\"117\">164,8<\/td>\n<td width=\"78\">-0,9 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigtes EBITDA<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>19,6<\/strong><\/td>\n<td width=\"117\">21,0<\/td>\n<td width=\"78\">-6,7 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigtes betriebliches Ergebnis<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>8,8<\/strong><\/td>\n<td width=\"117\">12,1<\/td>\n<td width=\"78\">-27,1 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigte Operating Margin (%)<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>5,4 %<\/strong><\/td>\n<td width=\"117\">7,3 %<\/td>\n<td width=\"78\">-193 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Betriebliches Ergebnis<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>3,3<\/strong><\/td>\n<td width=\"117\">12,1<\/td>\n<td width=\"78\">-72,7 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Capital Employed<sup>2)<\/sup><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>435,1<\/strong><\/td>\n<td width=\"117\">408,9<\/td>\n<td width=\"78\">+6,4 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Return on Capital Employed<sup>2) <\/sup>(%)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>6,1 %<\/strong><\/td>\n<td width=\"117\">9,5 %<\/td>\n<td width=\"78\">-339 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(7,8)<\/strong><\/td>\n<td width=\"117\">19,8<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Free Cash Flow<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(20,1)<\/strong><\/td>\n<td width=\"117\">(5,0)<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Investitionen<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>12,4<\/strong><\/td>\n<td width=\"117\">24,9<\/td>\n<td width=\"78\">-50,5 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Produzierte Menge (in Millionen m<sup>2<\/sup>)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>234<\/strong><\/td>\n<td width=\"117\">245<\/td>\n<td width=\"78\">-4,8 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"row justify-content-center\">\n<div class=\"fce-table-wrapper\">\n<div class=\"table-responsive mCustomScrollbar _mCS_3 mCS_no_scrollbar\">\n<div id=\"mCSB_3\" class=\"mCustomScrollBox mCS-inset-custom mCSB_horizontal mCSB_inside\" style=\"max-height: none;\" tabindex=\"0\">\n<div id=\"mCSB_3_container\" class=\"mCSB_container mCS_x_hidden mCS_no_scrollbar_x\" dir=\"ltr\" style=\"position: relative; top: 0px; left: 0px; width: 100%;\"><\/div>\n<div id=\"mCSB_3_scrollbar_horizontal\" class=\"mCSB_scrollTools mCSB_3_scrollbar mCS-inset-custom mCSB_scrollTools_horizontal\" style=\"display: none;\">\n<div class=\"mCSB_draggerContainer\">\n<div id=\"mCSB_3_dragger_horizontal\" class=\"mCSB_dragger\" style=\"position: absolute; min-width: 30px; width: 0px; left: 0px;\">\n<div class=\"mCSB_dragger_bar\"><\/div>\n<\/div>\n<div class=\"mCSB_draggerRail\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><small><sup>1)<\/sup> inklusive Umsatzerl\u00f6sen zwischen den Divisionen<br \/>\n<\/small><small><sup>2)<\/sup> Die Berechnung bezieht sich auf die letzten zw\u00f6lf Monate.<\/small><\/p>\n<p>&nbsp;<\/p>\n<p>Die Marktnachfrage liegt auf Vorjahresniveau. Insgesamt konnte die Division dem noch ausbleibenden Mengenwachstum hohe Preisdisziplin und Produktivit\u00e4tssteigerungen entgegensetzen.<\/p>\n<p>Konsequent wird daran gearbeitet, auf Basis operativer Exzellenz, erstklassigen Services und zukunftsweisender, nachhaltiger L\u00f6sungen zu wachsen und die Ertragskraft gezielt zu st\u00e4rken.<\/p>\n<p>Die Umsatzerl\u00f6se der Division lagen in den ersten drei Monaten 2025 mit 163,4 Mio. EUR nahe am Vorjahresniveau von 164,8 Mio. EUR. Entsprechend entwickelte sich auch die produzierte Menge mit 234 Millionen m<sup>2<\/sup> (Q1 2024: 245 Millionen m<sup>2<\/sup>).<\/p>\n<p>Das bereinigte betriebliche Ergebnis belief sich auf 8,8 Mio. EUR (Q1 2024: 12,1 Mio. EUR). Die bereinigte Operating Margin lag bei 5,4 % (Q1 2024: 7,3 %). Der Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit betrug -7,8 Mio. EUR (Q1 2024: 19,8 Mio. EUR).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n                \n            <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_5bb30b7f57a0bc27e215bb4f9b0a9228\" data-block_5bb30b7f57a0bc27e215bb4f9b0a9228 class=\"content-basic align transparent  container-bg \">\n  <div class=\"container\">\n    <div class=\"info_basic \">\n      <div class=\"section-info mb-10 max-w-[833px] \">\n                            <h2 class=\"title mb-4\">MM Board &#038; Paper<\/h2>\n                            <div class=\"section_text \"><div class=\"table-responsive mCustomScrollbar _mCS_4 mCS_no_scrollbar\">\n<div id=\"mCSB_4\" class=\"mCustomScrollBox mCS-inset-custom mCSB_horizontal mCSB_inside\" tabindex=\"0\">\n<div id=\"mCSB_4_container\" class=\"mCSB_container mCS_x_hidden mCS_no_scrollbar_x\" dir=\"ltr\">\n<section class=\"content-element--fce-file--table\">\n<div class=\"row\">\n<table width=\"633\">\n<tbody>\n<tr>\n<td width=\"321\">(in Mio. EUR)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>Q1\/2025<\/strong><\/td>\n<td width=\"117\">Q1\/2024<\/td>\n<td width=\"78\">+\/-<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Umsatzerl\u00f6se<sup>1)<\/sup><\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>510,0<\/strong><\/td>\n<td width=\"117\">483,5<\/td>\n<td width=\"78\">+5,5 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigtes EBITDA<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>33,8<\/strong><\/td>\n<td width=\"117\">13,4<\/td>\n<td width=\"78\">+153,2 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigtes betriebliches Ergebnis<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>5,9<\/strong><\/td>\n<td width=\"117\">(13,3)<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><strong>Bereinigte Operating Margin (%)<\/strong><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>1,1 %<\/strong><\/td>\n<td width=\"117\">-2,7 %<\/td>\n<td width=\"78\">+389 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Betriebliches Ergebnis<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>5,9<\/strong><\/td>\n<td width=\"117\">(13,3)<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Capital Employed<sup>2)<\/sup><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>1.825,2<\/strong><\/td>\n<td width=\"117\">1.863,1<\/td>\n<td width=\"78\">-2,0 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Return on Capital Employed<sup>2) <\/sup>(%)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>0,0 %<\/strong><\/td>\n<td width=\"117\">-3,3 %<\/td>\n<td width=\"78\">+326 bp<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(89,2)<\/strong><\/td>\n<td width=\"117\">(14,6)<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Free Cash Flow<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(115,0)<\/strong><\/td>\n<td width=\"117\">(59,3)<\/td>\n<td width=\"78\">n.m.<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Investitionen<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>25,9<\/strong><\/td>\n<td width=\"117\">44,8<\/td>\n<td width=\"78\">-42,1 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\">Produzierte Tonnage (in Tausend t)<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>813<\/strong><\/td>\n<td width=\"117\">795<\/td>\n<td width=\"78\">+2,2 %<\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><em>\u00a0\u00a0\u00a0 Karton<sup>3)<\/sup><\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>457<\/em><\/strong><\/td>\n<td width=\"117\"><em>450<\/em><\/td>\n<td width=\"78\"><em>+1,6 %<\/em><\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><em>\u00a0\u00a0\u00a0 Papier<\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>130<\/em><\/strong><\/td>\n<td width=\"117\"><em>126<\/em><\/td>\n<td width=\"78\"><em>+3,4 %<\/em><\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><em>\u00a0\u00a0\u00a0 Zellstoff<sup>4)<\/sup><\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>226<\/em><\/strong><\/td>\n<td width=\"117\"><em>219<\/em><\/td>\n<td width=\"78\"><em>+2,8 %<\/em><\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Marktzellstoff<\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>40<\/em><\/strong><\/td>\n<td width=\"117\"><em>32<\/em><\/td>\n<td width=\"78\"><em>+22,3 %<\/em><\/td>\n<\/tr>\n<tr>\n<td width=\"321\"><em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Interner Zellstoff<\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"117\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>186<\/em><\/strong><\/td>\n<td width=\"117\"><em>187<\/em><\/td>\n<td width=\"78\"><em>-0,6 %<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<section>\n<div class=\"\">\n<div class=\"row justify-content-center\">\n<div class=\"fce-table-wrapper\">\n<div class=\"table-responsive mCustomScrollbar _mCS_4 mCS_no_scrollbar\">\n<div id=\"mCSB_4\" class=\"mCustomScrollBox mCS-inset-custom mCSB_horizontal mCSB_inside\" style=\"max-height: none;\" tabindex=\"0\">\n<div id=\"mCSB_4_container\" class=\"mCSB_container mCS_x_hidden mCS_no_scrollbar_x\" dir=\"ltr\" style=\"position: relative; top: 0px; left: 0px; width: 100%;\">\n<p><small><sup>1)<\/sup> inklusive Umsatzerl\u00f6sen zwischen den Divisionen<br \/>\n<\/small><small><sup>2)<\/sup> Die Berechnung bezieht sich auf die letzten zw\u00f6lf Monate.<br \/>\n<\/small><small><sup>3)<\/sup> inklusive Coated Liner<br \/>\n<\/small><small><sup>4)<\/sup> Chemical Pulp und CTMP<\/small><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>In mehreren Produktbereichen von Board &amp; Paper zeigte sich seit Jahresbeginn eine stabile bzw. leicht bessere Marktnachfrage, jedoch ohne sp\u00fcrbare Belebung. Der durchschnittliche Auftragsstand von MM Board &amp; Paper lag mit 182.000 Tonnen auf Vorjahresniveau. Das Produktionsvolumen stieg um 2,2 % auf 813.000 Tonnen (Q1 2024: 795.000 Tonnen), womit eine leicht h\u00f6here Kapazit\u00e4tsauslastung m\u00f6glich war.<\/p>\n<p>Die Altpapier- und Zellstoffpreise sind nach einem starken Anstieg bis Sommer letzten Jahres zwar leicht gefallen, liegen aber immer noch deutlich \u00fcber dem Vorjahresniveau. Die Entwicklung der durchschnittlichen Verkaufspreise zeigte ein heterogenes Bild in den einzelnen Produktbereichen, jedoch mit einem insgesamt leichten Anstieg.<\/p>\n<p>Die Umsetzung nachhaltiger Kosteneinsparungen wird allerorts konsequent weiterverfolgt.<\/p>\n<p>Die Umsatzerl\u00f6se lagen mit 510,0 Mio. EUR leicht \u00fcber dem Vergleichswert des Vorjahres (Q1 2024: 483,5 Mio. EUR). Das bereinigte betriebliche Ergebnis belief sich auf 5,9 Mio. EUR nach -13,3 Mio. EUR im Vorjahr. Die bereinigte Operating Margin betrug 1,1 % (Q1 2024: -2,7 %). Der Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit ver\u00e4nderte sich vor allem Working Capital bedingt auf -89,2 Mio. EUR (Q1 2024: -14,6 Mio. EUR).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n                \n            <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_341b98e57a9c016af6b77923aba70bb9\" data-block_341b98e57a9c016af6b77923aba70bb9 class=\"accordion-list align transparent  container-bg \">\n  <div class=\"container\">\n    <div class=\"section-info mb-10 max-w-[833px] \">\n                            <h2 class=\"title mb-4\">Quartals\u00fcbersicht<\/h2>\n                        \n            <\/div>\n    <div class=\"accordions-list-wrapper\">\n                       <div class=\"accordions-list-wrapper-list-el\">\n          <button type=\"button\" class=\"accordion-button\" data-accordion-control=\"block_341b98e57a9c016af6b77923aba70bb9-accordion-0\">\n            <div class=\"accordion-title\">MM Gruppe<\/div>\n            <div class=\"ico-plus visible\"><svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<line class=\"line-vertical\" x1=\"10\" y1=\"20\" x2=\"10\" stroke=\"black\"\/>\n<line class=\"line-horizontal\" y1=\"10\" x2=\"20\" y2=\"10\" stroke=\"black\"\/>\n<\/svg><\/div>\n          <\/button>\n            <div class=\"accordion-content\" data-accordion-content=\"block_341b98e57a9c016af6b77923aba70bb9-accordion-0\">\n              <div class=\"accordion-content-inner\">\n                <table width=\"582\">\n<tbody>\n<tr>\n<td width=\"242\">(konsolidiert in Mio. EUR)<\/td>\n<td width=\"68\">Q1\/2024<\/td>\n<td width=\"68\">Q2\/2024<\/td>\n<td width=\"68\">Q3\/2024<\/td>\n<td width=\"68\">Q4\/2024<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>Q1\/2025<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Umsatzerl\u00f6se<\/strong><\/td>\n<td width=\"68\">1.025,0<\/td>\n<td width=\"68\">1.018,9<\/td>\n<td width=\"68\">1.024,9<\/td>\n<td width=\"68\">1.010,8<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>1.042,6<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigtes EBITDA<\/strong><\/td>\n<td width=\"68\">94,5<\/td>\n<td width=\"68\">107,2<\/td>\n<td width=\"68\">94,0<\/td>\n<td width=\"68\">122,8<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>119,3<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigte EBITDA Margin (%)<\/strong><\/td>\n<td width=\"68\">9,2 %<\/td>\n<td width=\"68\">10,5 %<\/td>\n<td width=\"68\">9,2 %<\/td>\n<td width=\"68\">12,2 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>11,4 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigtes betriebliches Ergebnis<\/strong><\/td>\n<td width=\"68\">39,6<\/td>\n<td width=\"68\">51,0<\/td>\n<td width=\"68\">35,7<\/td>\n<td width=\"68\">63,7<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>61,0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigte Operating Margin (%)<\/strong><\/td>\n<td width=\"68\">3,9 %<\/td>\n<td width=\"68\">5,0 %<\/td>\n<td width=\"68\">3,5 %<\/td>\n<td width=\"68\">6,3 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>5,8 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Betriebliches Ergebnis<\/td>\n<td width=\"68\">39,6<\/td>\n<td width=\"68\">51,0<\/td>\n<td width=\"68\">35,7<\/td>\n<td width=\"68\">63,7<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>55,5<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Capital Employed<sup>1)<\/sup><\/td>\n<td width=\"68\">3.515,0<\/td>\n<td width=\"68\">3.455,2<\/td>\n<td width=\"68\">3.410,6<\/td>\n<td width=\"68\">3.376,9<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>3.407,8<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Return on Capital Employed<sup>1) <\/sup>(%)<\/td>\n<td width=\"68\">5,4 %<\/td>\n<td width=\"68\">5,6 %<\/td>\n<td width=\"68\">4,8 %<\/td>\n<td width=\"68\">5,6 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>6,2 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Ergebnis vor Steuern<\/strong><\/td>\n<td width=\"68\">18,0<\/td>\n<td width=\"68\">33,2<\/td>\n<td width=\"68\">19,7<\/td>\n<td width=\"68\">43,4<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>31,8<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Steuern vom Einkommen und Ertrag<\/td>\n<td width=\"68\">(7,1)<\/td>\n<td width=\"68\">(6,7)<\/td>\n<td width=\"68\">(4,8)<\/td>\n<td width=\"68\">14,8<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(10,7)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Perioden\u00fcberschuss<\/strong><\/td>\n<td width=\"68\">10,9<\/td>\n<td width=\"68\">26,5<\/td>\n<td width=\"68\">14,9<\/td>\n<td width=\"68\">58,2<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>21,1<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">in % Umsatzerl\u00f6se<\/td>\n<td width=\"68\">1,1 %<\/td>\n<td width=\"68\">2,6 %<\/td>\n<td width=\"68\">1,5 %<\/td>\n<td width=\"68\">5,8 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>2,0 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Gewinn je Aktie (in EUR)<\/td>\n<td width=\"68\">0,52<\/td>\n<td width=\"68\">1,30<\/td>\n<td width=\"68\">0,72<\/td>\n<td width=\"68\">2,87<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>1,04<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit<\/td>\n<td width=\"68\">52,5<\/td>\n<td width=\"68\">148,1<\/td>\n<td width=\"68\">(33,0)<\/td>\n<td width=\"68\">348,7<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(128,2)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Free Cash Flow<\/td>\n<td width=\"68\">(38,5)<\/td>\n<td width=\"68\">97,9<\/td>\n<td width=\"68\">(78,2)<\/td>\n<td width=\"68\">321,0<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(183,5)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Investitionen<\/td>\n<td width=\"68\">92,8<\/td>\n<td width=\"68\">52,7<\/td>\n<td width=\"68\">45,8<\/td>\n<td width=\"68\">29,6<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>55,7<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><small><sup>1)<\/sup> Die Berechnung bezieht sich auf die letzten zw\u00f6lf Monate.<\/small><\/p>\n\n              <\/div>\n            <\/div>\n        <\/div>\n                               <div class=\"accordions-list-wrapper-list-el\">\n          <button type=\"button\" class=\"accordion-button\" data-accordion-control=\"block_341b98e57a9c016af6b77923aba70bb9-accordion-1\">\n            <div class=\"accordion-title\">MM Food &#038; Premium Packaging<\/div>\n            <div class=\"ico-plus visible\"><svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<line class=\"line-vertical\" x1=\"10\" y1=\"20\" x2=\"10\" stroke=\"black\"\/>\n<line class=\"line-horizontal\" y1=\"10\" x2=\"20\" y2=\"10\" stroke=\"black\"\/>\n<\/svg><\/div>\n          <\/button>\n            <div class=\"accordion-content\" data-accordion-content=\"block_341b98e57a9c016af6b77923aba70bb9-accordion-1\">\n              <div class=\"accordion-content-inner\">\n                <table width=\"582\">\n<tbody>\n<tr>\n<td width=\"242\">(in Mio. EUR)<\/td>\n<td width=\"68\">Q1\/2024<\/td>\n<td width=\"68\">Q2\/2024<\/td>\n<td width=\"68\">Q3\/2024<\/td>\n<td width=\"68\">Q4\/2024<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>Q1\/2025<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Umsatzerl\u00f6se<sup>1)<\/sup><\/strong><\/td>\n<td width=\"68\">428,9<\/td>\n<td width=\"68\">407,0<\/td>\n<td width=\"68\">431,6<\/td>\n<td width=\"68\">434,9<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>421,5<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigtes EBITDA<\/strong><\/td>\n<td width=\"68\">60,1<\/td>\n<td width=\"68\">61,3<\/td>\n<td width=\"68\">68,2<\/td>\n<td width=\"68\">68,7<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>65,9<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigtes betriebliches Ergebnis<\/strong><\/td>\n<td width=\"68\">40,8<\/td>\n<td width=\"68\">41,6<\/td>\n<td width=\"68\">48,2<\/td>\n<td width=\"68\">48,8<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>46,3<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigte Operating Margin (%)<\/strong><\/td>\n<td width=\"68\">9,5 %<\/td>\n<td width=\"68\">10,2 %<\/td>\n<td width=\"68\">11,2 %<\/td>\n<td width=\"68\">11,2 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>11,0 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Betriebliches Ergebnis<\/td>\n<td width=\"68\">40,8<\/td>\n<td width=\"68\">41,6<\/td>\n<td width=\"68\">48,2<\/td>\n<td width=\"68\">48,8<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>46,3<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Capital Employed<sup>2)<\/sup><\/td>\n<td width=\"68\">1.243,0<\/td>\n<td width=\"68\">1.210,1<\/td>\n<td width=\"68\">1.180,5<\/td>\n<td width=\"68\">1.152,2<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>1.147,5<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Return on Capital Employed<sup>2) <\/sup>(%)<\/td>\n<td width=\"68\">17,1 %<\/td>\n<td width=\"68\">16,9 %<\/td>\n<td width=\"68\">15,7 %<\/td>\n<td width=\"68\">15,6 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>16,1 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit<\/td>\n<td width=\"68\">47,3<\/td>\n<td width=\"68\">71,9<\/td>\n<td width=\"68\">28,6<\/td>\n<td width=\"68\">173,4<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(31,2)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Free Cash Flow<\/td>\n<td width=\"68\">25,8<\/td>\n<td width=\"68\">58,9<\/td>\n<td width=\"68\">16,2<\/td>\n<td width=\"68\">164,0<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(48,4)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Investitionen<\/td>\n<td width=\"68\">23,1<\/td>\n<td width=\"68\">13,8<\/td>\n<td width=\"68\">10,6<\/td>\n<td width=\"68\">10,8<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>17,4<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Produzierte Menge (in Millionen m<sup>2<\/sup>)<\/td>\n<td width=\"68\">787<\/td>\n<td width=\"68\">741<\/td>\n<td width=\"68\">813<\/td>\n<td width=\"68\">762<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>775<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><small><sup>1)<\/sup> inklusive Umsatzerl\u00f6sen zwischen den Divisionen<br \/>\n<\/small><small><sup>2)<\/sup> Die Berechnung bezieht sich auf die letzten zw\u00f6lf Monate.<\/small><\/p>\n\n              <\/div>\n            <\/div>\n        <\/div>\n                               <div class=\"accordions-list-wrapper-list-el\">\n          <button type=\"button\" class=\"accordion-button\" data-accordion-control=\"block_341b98e57a9c016af6b77923aba70bb9-accordion-2\">\n            <div class=\"accordion-title\">MM Pharma &#038; Healthcare Packaging<\/div>\n            <div class=\"ico-plus visible\"><svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<line class=\"line-vertical\" x1=\"10\" y1=\"20\" x2=\"10\" stroke=\"black\"\/>\n<line class=\"line-horizontal\" y1=\"10\" x2=\"20\" y2=\"10\" stroke=\"black\"\/>\n<\/svg><\/div>\n          <\/button>\n            <div class=\"accordion-content\" data-accordion-content=\"block_341b98e57a9c016af6b77923aba70bb9-accordion-2\">\n              <div class=\"accordion-content-inner\">\n                <table width=\"582\">\n<tbody>\n<tr>\n<td width=\"242\">(in Mio. EUR)<\/td>\n<td width=\"68\">Q1\/2024<\/td>\n<td width=\"68\">Q2\/2024<\/td>\n<td width=\"68\">Q3\/2024<\/td>\n<td width=\"68\">Q4\/2024<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>Q1\/2025<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Umsatzerl\u00f6se<sup>1)<\/sup><\/strong><\/td>\n<td width=\"68\">164,8<\/td>\n<td width=\"68\">156,8<\/td>\n<td width=\"68\">148,6<\/td>\n<td width=\"68\">145,5<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>163,4<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigtes EBITDA<\/strong><\/td>\n<td width=\"68\">21,0<\/td>\n<td width=\"68\">16,6<\/td>\n<td width=\"68\">18,3<\/td>\n<td width=\"68\">14,0<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>19,6<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigtes betriebliches Ergebnis<\/strong><\/td>\n<td width=\"68\">12,1<\/td>\n<td width=\"68\">7,2<\/td>\n<td width=\"68\">7,5<\/td>\n<td width=\"68\">3,0<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>8,8<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\"><strong>Bereinigte Operating Margin (%)<\/strong><\/td>\n<td width=\"68\">7,3 %<\/td>\n<td width=\"68\">4,6 %<\/td>\n<td width=\"68\">5,0 %<\/td>\n<td width=\"68\">2,2 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>5,4 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Betriebliches Ergebnis<\/td>\n<td width=\"68\">12,1<\/td>\n<td width=\"68\">7,2<\/td>\n<td width=\"68\">7,5<\/td>\n<td width=\"68\">3,0<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>3,3<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Capital Employed<sup>2)<\/sup><\/td>\n<td width=\"68\">408,9<\/td>\n<td width=\"68\">409,3<\/td>\n<td width=\"68\">414,3<\/td>\n<td width=\"68\">423,4<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>435,1<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Return on Capital Employed<sup>2) <\/sup>(%)<\/td>\n<td width=\"68\">9,5 %<\/td>\n<td width=\"68\">9,2 %<\/td>\n<td width=\"68\">8,5 %<\/td>\n<td width=\"68\">7,0 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>6,1 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit<\/td>\n<td width=\"68\">19,8<\/td>\n<td width=\"68\">15,0<\/td>\n<td width=\"68\">(2,0)<\/td>\n<td width=\"68\">39,1<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(7,8)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Free Cash Flow<\/td>\n<td width=\"68\">(5,0)<\/td>\n<td width=\"68\">6,2<\/td>\n<td width=\"68\">(13,4)<\/td>\n<td width=\"68\">31,9<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(20,1)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Investitionen<\/td>\n<td width=\"68\">24,9<\/td>\n<td width=\"68\">10,0<\/td>\n<td width=\"68\">12,1<\/td>\n<td width=\"68\">8,8<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>12,4<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"242\">Produzierte Menge (in Millionen m<sup>2<\/sup>)<\/td>\n<td width=\"68\">245<\/td>\n<td width=\"68\">233<\/td>\n<td width=\"68\">232<\/td>\n<td width=\"68\">208<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>234<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><small><sup>1)<\/sup> inklusive Umsatzerl\u00f6sen zwischen den Divisionen<br \/>\n<\/small><small><sup>2)<\/sup> Die Berechnung bezieht sich auf die letzten zw\u00f6lf Monate.<\/small><\/p>\n\n              <\/div>\n            <\/div>\n        <\/div>\n                               <div class=\"accordions-list-wrapper-list-el\">\n          <button type=\"button\" class=\"accordion-button\" data-accordion-control=\"block_341b98e57a9c016af6b77923aba70bb9-accordion-3\">\n            <div class=\"accordion-title\">MM Board &#038; Paper<\/div>\n            <div class=\"ico-plus visible\"><svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<line class=\"line-vertical\" x1=\"10\" y1=\"20\" x2=\"10\" stroke=\"black\"\/>\n<line class=\"line-horizontal\" y1=\"10\" x2=\"20\" y2=\"10\" stroke=\"black\"\/>\n<\/svg><\/div>\n          <\/button>\n            <div class=\"accordion-content\" data-accordion-content=\"block_341b98e57a9c016af6b77923aba70bb9-accordion-3\">\n              <div class=\"accordion-content-inner\">\n                <table width=\"581\">\n<tbody>\n<tr>\n<td width=\"241\">(in Mio. EUR)<\/td>\n<td width=\"68\">Q1\/2024<\/td>\n<td width=\"68\">Q2\/2024<\/td>\n<td width=\"68\">Q3\/2024<\/td>\n<td width=\"68\">Q4\/2024<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>Q1\/2025<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><strong>Umsatzerl\u00f6se<sup>1)<\/sup><\/strong><\/td>\n<td width=\"68\">483,5<\/td>\n<td width=\"68\">502,7<\/td>\n<td width=\"68\">491,1<\/td>\n<td width=\"68\">477,0<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>510,0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><strong>Bereinigtes EBITDA<\/strong><\/td>\n<td width=\"68\">13,4<\/td>\n<td width=\"68\">29,3<\/td>\n<td width=\"68\">7,5<\/td>\n<td width=\"68\">40,1<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>33,8<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><strong>Bereinigtes betriebliches Ergebnis<\/strong><\/td>\n<td width=\"68\">(13,3)<\/td>\n<td width=\"68\">2,2<\/td>\n<td width=\"68\">(20,0)<\/td>\n<td width=\"68\">11,9<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>5,9<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><strong>Bereinigte Operating Margin (%)<\/strong><\/td>\n<td width=\"68\">-2,7 %<\/td>\n<td width=\"68\">0,4 %<\/td>\n<td width=\"68\">-4,1 %<\/td>\n<td width=\"68\">2,5 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>1,1 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\">Betriebliches Ergebnis<\/td>\n<td width=\"68\">(13,3)<\/td>\n<td width=\"68\">2,2<\/td>\n<td width=\"68\">(20,0)<\/td>\n<td width=\"68\">11,9<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>5,9<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\">Capital Employed<sup>2)<\/sup><\/td>\n<td width=\"68\">1.863,1<\/td>\n<td width=\"68\">1.835,8<\/td>\n<td width=\"68\">1.815,8<\/td>\n<td width=\"68\">1.801,3<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>1.825,2<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\">Return on Capital Employed<sup>2) <\/sup>(%)<\/td>\n<td width=\"68\">-3,3 %<\/td>\n<td width=\"68\">-2,7 %<\/td>\n<td width=\"68\">-3,0 %<\/td>\n<td width=\"68\">-1,1 %<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>0,0 %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\">Cash Flow aus der Gesch\u00e4ftst\u00e4tigkeit<\/td>\n<td width=\"68\">(14,6)<\/td>\n<td width=\"68\">61,2<\/td>\n<td width=\"68\">(59,6)<\/td>\n<td width=\"68\">136,2<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(89,2)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\">Free Cash Flow<\/td>\n<td width=\"68\">(59,3)<\/td>\n<td width=\"68\">32,8<\/td>\n<td width=\"68\">(81,0)<\/td>\n<td width=\"68\">125,1<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>(115,0)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\">Investitionen<\/td>\n<td width=\"68\">44,8<\/td>\n<td width=\"68\">28,9<\/td>\n<td width=\"68\">23,1<\/td>\n<td width=\"68\">10,0<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>25,9<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\">Produzierte Tonnage (in Tausend t)<\/td>\n<td width=\"68\">795<\/td>\n<td width=\"68\">812<\/td>\n<td width=\"68\">747<\/td>\n<td width=\"68\">791<\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong>813<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><em>\u00a0\u00a0\u00a0 Karton<sup>3)<\/sup><\/em><\/td>\n<td width=\"68\"><em>450<\/em><\/td>\n<td width=\"68\"><em>465<\/em><\/td>\n<td width=\"68\"><em>431<\/em><\/td>\n<td width=\"68\"><em>417<\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>457<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><em>\u00a0\u00a0\u00a0 Papier<\/em><\/td>\n<td width=\"68\"><em>126<\/em><\/td>\n<td width=\"68\"><em>119<\/em><\/td>\n<td width=\"68\"><em>118<\/em><\/td>\n<td width=\"68\"><em>134<\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>130<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><em>\u00a0\u00a0\u00a0 Zellstoff<sup>4)<\/sup><\/em><\/td>\n<td width=\"68\"><em>219<\/em><\/td>\n<td width=\"68\"><em>228<\/em><\/td>\n<td width=\"68\"><em>198<\/em><\/td>\n<td width=\"68\"><em>240<\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>226<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Marktzellstoff<\/em><\/td>\n<td width=\"68\"><em>32<\/em><\/td>\n<td width=\"68\"><em>33<\/em><\/td>\n<td width=\"68\"><em>19<\/em><\/td>\n<td width=\"68\"><em>35<\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>40<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"241\"><em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Interner Zellstoff<\/em><\/td>\n<td width=\"68\"><em>187<\/em><\/td>\n<td width=\"68\"><em>195<\/em><\/td>\n<td width=\"68\"><em>179<\/em><\/td>\n<td width=\"68\"><em>205<\/em><\/td>\n<td style=\"background-color: #E8F1ED;\" width=\"68\" data-bgcolor=\"background-color: #E8F1ED;\"><strong><em>186<\/em><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><small><sup>1)<\/sup> inklusive Umsatzerl\u00f6sen zwischen den Divisionen<br \/>\n<\/small><small><sup>2)<\/sup> Die Berechnung bezieht sich auf die letzten zw\u00f6lf Monate.<br \/>\n<\/small><small><sup>3)<\/sup> inklusive Coated Liner<br \/>\n<\/small><small><sup>4)<\/sup> Chemical Pulp und CTMP<\/small><\/p>\n\n              <\/div>\n            <\/div>\n        <\/div>\n                  <\/div>\n  <\/div>\n<\/section>\n\n\n<section id=\"block_db063e55d030df5b8f72334220d78d54\" data-block_db063e55d030df5b8f72334220d78d54 class=\"content-basic align transparent  container-bg \">\n  <div class=\"container\">\n    <div class=\"info_basic \">\n      <div class=\"section-info mb-10 max-w-[833px] \">\n                                    <div class=\"section_text \"><p><strong>N\u00e4chster Termin:<\/strong><\/p>\n<p>21. August 2025\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Ergebnisse zum 1. Halbjahr 2025<\/p>\n<\/div>\n                \n            <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_543e014476889ef84ad55aaec4c81e31\" data-block_543e014476889ef84ad55aaec4c81e31 class=\"separator-w-icon align transparent position-right  container-bg  \">\n  <div class=\"container\">\n    <div class=\"inner relative\" data-aos=\"fade-up\" data-aos-duration=\"1000\">\n      <picture>\n                  <source media=\"(min-width: 1024px)\" srcset=\"https:\/\/mm-test.digilicious.cloud\/wp-content\/uploads\/icon-3.svg\">\n                <img src=\"https:\/\/mm-test.digilicious.cloud\/wp-content\/uploads\/icon-3.svg\" alt=\"\" width=\"300\" height=\"200\" loading=\"lazy\" decoding=\"async\" class=\"bg-image\">\n    <\/picture>\n    <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_de14d95c0c77270a6b9f9a40c08679f1\" data-block_de14d95c0c77270a6b9f9a40c08679f1 class=\"banner-cta-side-by-side align transparent  transparent container-bg  style-investors\">\n  <div class=\"container-big\">\n                 <div class=\"cta-col\">\n        <p class=\"cta-col-pretitle pretitle\">Investoren<\/p>\n        <h2 class=\"cta-col-title title\">Nehmen Sie Kontakt mit Investor Relations auf<\/h2>\n        <div class=\"cta-col-text section_text\"><p>Wir freuen uns auf Ihre Nachricht und bem\u00fchen uns stets um eine schnelle Antwort.<\/p>\n<\/div>\n        <a href=\"https:\/\/mm-test.digilicious.cloud\/de\/investoren\/kontaktieren-sie-uns\/\" class=\"btn btn-primary\" target=\"\" title=\"Kontaktieren Sie uns\">\n          <span>\n            Kontaktieren Sie uns\n                      <\/span>\n        <\/a>\n      <\/div>\n                 <div class=\"cta-col\">\n        <p class=\"cta-col-pretitle pretitle\">IR NEWS<\/p>\n        <h2 class=\"cta-col-title title\">Publikationsmailing<\/h2>\n        <div class=\"cta-col-text section_text\"><p>Um Sie regelm\u00e4\u00dfig \u00fcber unsere Berichte und Pressemitteilungen auf dem Laufenden zu halten, bieten wir unseren Aktion\u00e4r:innen und Stakeholdern an, sich in unseren Publikationsverteiler einzutragen.<\/p>\n<\/div>\n        <a href=\"#form-id-12\" class=\"btn btn-primary\" target=\"\" title=\"Jetzt anmelden\">\n          <span>\n            Jetzt anmelden\n                      <\/span>\n        <\/a>\n      <\/div>\n      <\/div>\n<\/section>\n\n<section id=\"block_fd0360f4f847176961368af9cd609f97\" data-block_fd0360f4f847176961368af9cd609f97 class=\"related-news align light-green  container-bg \">\n  <div class=\"container\">\n    <div class=\"section-info mb-10 max-w-[833px] \">\n                    <div class=\"pretitle accent-color mb-3\">MM GROUP<\/div>\n                            <h2 class=\"title mb-4\">News<\/h2>\n                        \n            <\/div>\n    <div class=\"related-news\">\n                      <article\n    class=\"new-card  division-board-paper  \">\n    <a href=\"https:\/\/mm-test.digilicious.cloud\/de\/news\/board-paper\/otg-setzt-mit-foodboard-auf-hoechste-standards-in-der-produktsicherheit\/\" title=\"OTG setzt mit FOODBOARD\u00ae auf h\u00f6chste Standards in der Produktsicherheit\">\n        <div class=\"image-wrapper\">\n                            <div class=\"new-card-sectors\">\n                                            <div class=\"category sector-board-paper\">Board &amp; Paper<\/div>\n                                    <\/div>\n                                        <img src=\"https:\/\/mm-test.digilicious.cloud\/wp-content\/uploads\/BP-square-.jpg\" alt=\"\" width=\"1024\" height=\"1024\" loading=\"lazy\" decoding=\"async\" >\n                    <\/div>\n        <div class=\"new-card-meta\">\n            <time datetime=\"09\/02\/26\">09\/02\/26<\/time>\n                            <div class=\"tag-news swiper\">\n                    <div class=\"swiper-wrapper\">\n                                                    <div class=\"tag sector-kundenstories swiper-slide\">Kundenstories<\/div>\n                            <span class=\"separator swiper-slide\">\u00b7<\/span>\n                                                    <div class=\"tag sector-customer-stories-de swiper-slide\">Customer Stories<\/div>\n                            <span class=\"separator swiper-slide\">\u00b7<\/span>\n                                            <\/div>\n                <\/div>\n                        <p class=\"new-card-title\">OTG setzt mit FOODBOARD\u00ae auf h\u00f6chste Standards in der Produktsicherheit<\/p>\n        <\/div>\n    <\/a>\n<\/article>\n                      <article\n    class=\"new-card  division-board-paper  \">\n    <a href=\"https:\/\/mm-test.digilicious.cloud\/de\/news\/board-paper\/bctmp-birch-von-mm-follacell-hohes-volumen-hohe-helligkeit\/\" title=\"BCTMP Birch von MM FollaCell: Hohes Volumen &amp; hohe Helligkeit\">\n        <div class=\"image-wrapper\">\n                            <div class=\"new-card-sectors\">\n                                            <div class=\"category sector-board-paper\">Board &amp; Paper<\/div>\n                                    <\/div>\n                                        <img src=\"https:\/\/mm-test.digilicious.cloud\/wp-content\/uploads\/Follafoss-BCTMP_Website-Article_Visual-Pulp-1-Preview-1000x1000-1.jpg\" alt=\"\" width=\"1000\" height=\"1000\" loading=\"lazy\" decoding=\"async\" >\n                    <\/div>\n        <div class=\"new-card-meta\">\n            <time datetime=\"02\/02\/26\">02\/02\/26<\/time>\n                            <div class=\"tag-news swiper\">\n                    <div class=\"swiper-wrapper\">\n                                                    <div class=\"tag sector-unternehmen-werke swiper-slide\">Unternehmen \/ Werke<\/div>\n                            <span class=\"separator swiper-slide\">\u00b7<\/span>\n                                            <\/div>\n                <\/div>\n                        <p class=\"new-card-title\">BCTMP Birch von MM FollaCell: Hohes Volumen &amp; hohe Helligkeit<\/p>\n        <\/div>\n    <\/a>\n<\/article>\n                      <article\n    class=\"new-card  division-mmgroup  \">\n    <a href=\"https:\/\/mm-test.digilicious.cloud\/de\/news\/mmgroup\/bewertung-naturbezogener-risiken-und-chancen-bei-der-mm-group-im-einklang-mit-esrs\/\" title=\"Bewertung naturbezogener Risiken und Chancen bei der MM Group\u00a0&#8211;\u00a0im Einklang mit ESRS\">\n        <div class=\"image-wrapper\">\n                            <div class=\"new-card-sectors\">\n                                            <div class=\"category sector-mmgroup\">MM Group<\/div>\n                                    <\/div>\n                                        <img src=\"https:\/\/mm-test.digilicious.cloud\/wp-content\/uploads\/Square-1024x1024px-5.jpg\" alt=\"\" width=\"1024\" height=\"1024\" loading=\"lazy\" decoding=\"async\" >\n                    <\/div>\n        <div class=\"new-card-meta\">\n            <time datetime=\"22\/01\/26\">22\/01\/26<\/time>\n                            <div class=\"tag-news swiper\">\n                    <div class=\"swiper-wrapper\">\n                                                    <div class=\"tag sector-nachhaltigkeit swiper-slide\">Nachhaltigkeit<\/div>\n                            <span class=\"separator swiper-slide\">\u00b7<\/span>\n                                            <\/div>\n                <\/div>\n                        <p class=\"new-card-title\">Bewertung naturbezogener Risiken und Chancen bei der MM Group\u00a0&#8211;\u00a0im Einklang mit ESRS<\/p>\n        <\/div>\n    <\/a>\n<\/article>\n                <\/div>\n  <\/div>\n<\/section>\n\n<section id=\"block_3ca4554ed60c015d228c4c0ac74b22d2\" data-block_3ca4554ed60c015d228c4c0ac74b22d2 class=\"button-centered align light-green  container-bg  relative pb-10 lg:pb-20 lg:-mt-10\">\n    <div class=\"container flex justify-center\">\n      <a class=\"btn  btn-secondary \" href=\"https:\/\/mm-test.digilicious.cloud\/de\/news\/\" target=\"\">\n        <span>\n          Zu allen MM News\n                  <\/span>\n      <\/a>\n    <\/div>\n  <\/section>\n","protected":false},"featured_media":0,"menu_order":3,"template":"","meta":{"_acf_changed":true,"inline_featured_image":false},"categories":[],"category-press-release":[351,357,358],"class_list":["post-42010","press-release","type-press-release","status-publish","hentry","category-press-release-investoren","category-press-release-ergebnisse","category-press-release-presseaussendungen"],"acf":[],"_links":{"self":[{"href":"https:\/\/mm-test.digilicious.cloud\/de\/wp-json\/wp\/v2\/press-release\/42010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mm-test.digilicious.cloud\/de\/wp-json\/wp\/v2\/press-release"}],"about":[{"href":"https:\/\/mm-test.digilicious.cloud\/de\/wp-json\/wp\/v2\/types\/press-release"}],"wp:attachment":[{"href":"https:\/\/mm-test.digilicious.cloud\/de\/wp-json\/wp\/v2\/media?parent=42010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mm-test.digilicious.cloud\/de\/wp-json\/wp\/v2\/categories?post=42010"},{"taxonomy":"category-press-release","embeddable":true,"href":"https:\/\/mm-test.digilicious.cloud\/de\/wp-json\/wp\/v2\/category-press-release?post=42010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}