Key Indicators

Multi-Annual Overview MM Group

consolidated (in millions of EUR)	2020	2019	2018	2017	2016
Sales	2,528.4	2,544.4	2,337.7	2,336.8	2,272.7
EBITDA	398.9	389.6	324.4³⁾	314.7³⁾	312.7³⁾
Operating profit	231.4	255.3	217.1	215.0	213.7
Profit for the year	162.2	190.2	164.2	155.0	153.4
Cash flow from operating activities	318.2	331.4	250.1	217.2	219.4
Depreciation/Capital Expenditures (in millions of EUR)
Depreciation and amortization¹⁾	167.5	134.3	107.3	99.7	99.1
Capital expenditures (CAPEX)	157.6	151.0	124.4	159.1	144.2
Personnel
Employees	9,938	10,014	9,445	9,856	9,927
Profitability Indicators
Return on equity	10.6 %	13.1 %	12.1 %	12.0 %	12.8 %
Return on assets	7.1 %	9.0 %	8.5 %	8.3 %	8.4 %
Net profit margin	6.4 %	7.5 %	7.0 %	6.6 %	6.7 %
EBITDA margin	15.8 %	15.3 %	13.9 %³⁾	13.5 %	13.8 %
Operating margin	9.2 %	10.0 %	9.3 %	9.2 %	9.4 %
Return on capital employed	13.7 %	15.4 %	16.2 %³⁾	16.6 %³⁾	17.4 %³⁾
Return on investment	9.4 %	11.7 %	11.0 %	10.9 %	11.0 %
Balance Sheet Indicators
Equity ratio	64.5 %	62.3 %	67.0 %	65.5 %	63.5 %
Property, plant and equipment to total assets	41.5 %	42.7 %	41.3 %	42.7 %	40.0 %
Total equity and non-current liabilities to property, plant and equipment	2.0	1.9	2.0	1.9	2.0
Working capital (in millions of EUR)	584.4	523.9	698.8	644.3	710.5
Indebtedness
Net debt (-) /net liquidity (+) (in millions of EUR)	-122.2	-218.6	49.4	-11.8	-7.2
Net debt/EBITDA	0.3	0.6	-0.2	0.0	0.0
Share Performance Indicators (in EUR)
Market capitalization²⁾ (in Mio. EUR)	3,300.0	2,392.0	2,200.0	2,450.0	2,014.0
Basic and diluted earnings per share	8.06	9.49	8.18	7.73	7.67
Dividend per share	3.20⁴⁾	3.20	3.20	3.10	3.00

(unaudited)

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

²⁾per ultimo

³⁾adjusted according to definition (see glossary)

⁴⁾proposed for 2020

consolidated, in millions of EUR, IFRS	1Q/2020	2Q/2020	3Q/2020	4Q/2020	1Q/2021	2Q/2021	3Q/2021
Sales	646.6	619.9	637.0	624.9	641.3	648.3	817.5
EBITDA	98.9	112.8	95.4	91.8	92.7	62.8	127.5

Operating profit	64.6	57.9	46.8	62.1	61.2	30.9	85.1
Operating margin (%)	10.0 %	9.3 %	7.3 %	9.9 %	9.6 %	4.8 %	10.4 %

Profit before tax	62.8	54.9	42.9	61.5	58.6	24.3	79.5
Income tax expense	(17.7)	(15.1)	(11.5)	(15.6)	(14.7)	(6.0)	(13.3)

Profit for the period	45.1	39.8	31.4	45.9	43.9	18.3	66.2
Net profit margin (%)	7.0 %	6.4 %	4.9 %	7.4 %	6.8 %	2.8 %	8.1 %
Earnings per share (in EUR)	2.25	1.98	1.55	2.28	2.18	0.89	3.30
Cash flow from operating activities	84.5	38.1	101.1	94.5	77.8	34.5	53.5

in millions of EUR, IFRS	1Q/2020	2Q/2020	3Q/2020	4Q/2020	1Q/2021	2Q/2021	3Q/2021
Sales¹⁾	273.5	259.5	264.4	253.4	271.4	285.2	434.8
EBITDA	47.5	51.8	37.0	28.4	33.0	26.5	65.1
Operating profit	34.1	25.1	9.2	18.3	19.8	13.2	41.3
Operating margin (%)	12.5 %	9.6 %	3.5 %	7.2 %	7.3 %	4.6 %	9.5 %
Cash flow from operating activities	30.4	22.3	45.5	28.1	14.3	2.4	22.3
Tonnage sold (in thousands of tons)	444	427	423	410	432	422	567
Cartonboard	444	427	423	410	432	422	473
Kraft Papers	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	31
Uncoated Fine Papers	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	63
Tonnage produced (in thousands of tons)	435	442	421	412	410	421	560

¹⁾ including interdivisional sales

in millions of EUR, IFRS	1Q/2020	2Q/2020	3Q/2020	4Q/2020	1Q/2020	2Q/2021	3Q/2021
Sales¹⁾	401.7	391.9	401.9	398.7	399.3	392.1	418.2
EBITDA	51.4	61.0	58.4	63.4	59.7	36.3	62.4
Operating profit	30.5	32.8	37.6	43.8	41.4	17.7	43.8
Operating margin (%)	7.6 %	8.4 %	9.3 %	11.0 %	10.4 %	4.5 %	10.4 %
Cash flow from operating activities	54.1	15.8	55.6	66.4	63.5	32.1	31.2
Tonnage processed (in thousands of tons)	209	211	215	212	216	208	215

¹⁾ including interdivisional sales