Mondi (MND.L, MNDI LN)
Mondi Group is a paper and packaging company with operations in Europe (90%) and South Africa (10%). Its European operations comprise four main divisions: Packaging Paper, which includes the company's 2m tonnes of containerboard capacity; Fibre Packaging, which includes the corrugated and sack conversion operations; Uncoated Fine Paper - Mondi is the largest producer of this grade in Eastern Europe with almost one-third market share; and Consumer Packaging, which includes the Nordenia business acquired in 2012. Consumer Packaging has been identified as the main growth area for the business. The company is listed in London and South Africa and has a market cap of almost €6bn. We expect it to generate revenues of almost €6.6bn in the 12 months to end-December with EBITDA of almost €1.1bn.
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