Key Indicators

Multi-Annual Overview MM Group

consolidated (in millions of EUR)	2021	2020	2019	2018	2017
Sales	3,069.7	2,528.4	2,544.4	2,337.7	2,336.8
EBITDA	421.0	398.9	389.6	324.4³⁾	314.7³⁾
Operating profit	269.6	231.4	255.3	217.1	215.0
Profit for the year	190.7	162.2	190.2	164.2	155.0
Cash flow from operating activities	269.8	318.2	331.4	250.1	217.2
Depreciation/Capital Expenditures (in millions of EUR)
Depreciation and amortization¹⁾	151.4	167.5	134.3	107.3	99.7
Capital expenditures (CAPEX)	257.8	157.6	151.0	124.4	159.1
Personnel
Employees	12,492	9,938	10,014	9,445	9,856
Profitability Indicators
Return on equity	11.9 %	10.6 %	13.1 %	12.1 %	12.0 %
Return on assets	6.7 %	7.1 %	9.0 %	8.5 %	8.3 %
Net profit margin	6.2 %	6.4 %	7.5 %	7.0 %	6.6 %
EBITDA margin	13.7 %	15.8 %	15.3 %	13.9 %	13.5 %
Operating margin	8.8 %	9.2 %	10.0 %	9.3 %	9.2 %
Return on capital employed	12.8 %	13.7 %	15.4 %	16.2 %³⁾	16.6 %³⁾
Return on investment	8.8 %	9.4 %	11.7 %	11.0 %	10.9 %
Balance Sheet Indicators
Equity ratio	41.4 %	64.5 %	62.3 %	67.0 %	65.5 %
Property, plant and equipment to total assets	37.1 %	41.5 %	42.7 %	41.3 %	42.7 %
Total equity and non-current liabilities to property, plant and equipment	2.2	2.0	1.9	2.0	1.9
Working capital (in millions of EUR)	809.3	584.4	523.9	698.8	644.3
Indebtedness
Net debt (-) /net liquidity (+) (in millions of EUR)	-1,063.5	-122.2	-218.6	49.4	-11.8
Net debt/EBITDA	2.1⁴⁾	0.3	0.6	-0.2	0.0
Share Performance Indicators (in EUR)
Market capitalization²⁾ (in Mio. EUR)	3,532	3,300	2,392	2,200	2,450
Basic and diluted earnings per share	9.46	8.06	9.49	8.18	7.73
Dividend per share	3.50⁵⁾	3.20	3.20	3.20	3.10

(unaudited)

¹⁾incl. impairment of property, plant and equipment and intangible assets

²⁾per ultimo

³⁾adjusted according to definition (see glossary)

⁴⁾ EBITDA including acquired mills MM Kotkamills and MM Kwidzyn for the full financial year 2021; excluding the sold sites at Eerbeek and Baiersbronn

⁵⁾proposed for 2021

consolidated, in millions of EUR, IFRS	1Q/2021	2Q/2021	3Q/2021	4Q/2021	1Q/2022	2Q/2022	3Q/2022
Sales	641.3	648.3	817.5	962.6	1,060.4	1,158.1	1,231.9
EBITDA	92.7	62.8	127.5	138.0	155.0	220.8	215.4
EBITDA margin (%)	14.5 %	9.7 %	15.6 %	14.3 %	14.6 %	19.1 %	17.5 %

Operating profit	61.2	30.9	85.1	92.4	111.1	173.9	167.2
Operating margin (%)	9.6 %	4.8 %	10.4 %	9.6 %	10.5 %	15.0 %	13.6 %

Profit before tax	58.6	24.3	79.5	82.1	103.6	166.6	146.6
Income tax expense	(14.7)	(6.0)	(13.3)	(19.8)	(24.1)	(40.3)	(37.2)

Profit for the period	43.9	18.3	66.2	62.3	79.5	126.3	109.4
Net profit margin (%)	6.8 %	2.8 %	8.1 %	6.5 %	7.5 %	10.9 %	8.9 %
Earnings per share (in EUR)	2.18	0.89	3.30	3.09	3.95	6.29	5.43
Cash flow from operating activities	77.8	34.5	53.5	104.0	49.3	89.0	117.4

in millions of EUR, IFRS	1Q/2021	2Q/2021	3Q/2021	4Q/2021	1Q/2022	2Q/2022	3Q/2022
Sales¹⁾	271.4	285.2	434.8	569.7	656.3	725.9	747.3
EBITDA	33.0	26.5	65.1	60.6	95.7	157.8	142.9
Operating profit	19.8	13.2	41.3	33.4	70.1	131.6	116.5
Operating margin (%)	7.3 %	4.6 %	9.5 %	5.9 %	10.7 %	18.1 %	15.6 %
Cash flow from operating activities	14.3	2.4	22.3	69.7	18.5	83.6	124.9
Tonnage sold (in thousands of tons)	432	422	567	671	657	623	615
Cartonboard	432	422	473	507	494	467	469
Kraft Papers	n.a.	n.a.	31	62	64	64	51
Uncoated Fine Papers	n.a.	n.a.	63	102	99	92	95
Tonnage produced (in thousands of tons)	410	421	560	678	659	671	611

¹⁾ including interdivisional sales

in millions of EUR, IFRS	1Q/2021	2Q/2021	3Q/2021	4Q/2021	1Q/2022	2Q/2022	3Q/2022
Sales¹⁾	399.3	392.1	418.2	432.0	454.9	502.4	552.9
EBITDA	59.7	36.3	62.4	77.4	59.3	63.0	72.5
Operating profit	41.4	17.7	43.8	59.0	41.0	42.3	50.7
Operating margin (%)	10.4 %	4.5 %	10.4 %	13.7 %	9.0 %	8.4 %	9.2 %
Cash flow from operating activities	63.5	32.1	31.2	34.3	30.8	5.4	(7.5)
Produced volume (in millions of m²)	910	898	928	936	959	954	1,015

¹⁾ including interdivisional sales