Shares in Mondi PLC (LSE:MNDI) dropped 6% on Thursday, making it the biggest faller on the FTSE 100, after the packaging group issued a cautious outlook for the second half of the year.
The company reported underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of €564 million for the first six months of 2025, broadly unchanged from the previous year.
While its core packaging divisions delivered stronger results, with corrugated packaging EBITDA up 42% and flexible packaging up 9%, profits from uncoated fine paper fell sharply.
Chief executive Andrew King said that despite “solid” first-half results, ongoing geopolitical and macroeconomic uncertainties would continue to weigh on trading conditions in the months ahead.
King emphasised that the group would remain focused on productivity, cost and cash flow optimisation to weather the tougher environment.
Mondi declared an interim dividend of 23.33 euro cents a share, unchanged from last year.
The shares fell 75.68p to 1,093p.