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Raw materials & energyCapital & Financial MarketsOperations & Footprint 15 Oct 2026

Mondi lifts Q3 underlying EBITDA to EUR 196m as gas prices rise 35-40%

Mondi's underlying EBITDA rose to EUR 196m in the third quarter of 2026 from EUR 167m in the second quarter, which included a EUR 43m forestry fair-value loss, as earlier price increases offset planned maintenance shutdowns and faster-than-expected input-cost inflation. Gas averaged EUR 63/MWh, up 35-40% sequentially, adding roughly EUR 20-25m to quarterly costs; Mondi does not hedge energy. Management expects price increases to offset cost inflation in the fourth quarter at current spot prices, but says energy markets remain volatile.

Why this mattersWith 80-85% energy self-generated but no hedging, Mondi's margin hinges on whether paper price increases keep pace with gas; exposure is concentrated at Duino and Neusiedler.

  • Underlying EBITDA was EUR 196m in Q3 2026, against EUR 167m in Q2 2026, which included a EUR 43m forestry fair-value loss.
  • Gas averaged EUR 63/MWh in Q3 2026, up 35-40% sequentially; gas and other energy-related costs added about EUR 20-25m in the quarter.
  • Mondi had guided to a EUR 35m rise in wood costs in H2 versus H1 2026, about half of it falling in Q3 versus Q2.
  • Mondi generates about 80-85% of its own energy and does not hedge energy costs.
  • Like-for-like volumes grew about 1% year on year against a largely flat European market.
  • Mondi is transferring customer volumes from converting plants scheduled for closure later in 2026.
Mondi
Sources watchlistnews.com
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-10-16 · Edited before publication: The source breaks off at 'completed the sale of one solid-board convert'. The Schumacher link and the second plant sale are not grounded, and the headline led with a development the summary did not mention. The lead is now the EBITDA result, in line with the standfirst. The EUR 35m wood-cost rise was guidance for the half, not an actual figure. The Operations theme is re
  • 2026-10-16 · Edited before publication: The source says gas prices averaged EUR 63/MWh, up 35-40% on the previous quarter. The headline said gas costs. The extra energy cost was EUR 20-25m, not a 35-40% rise. The last bullet relied on text cut off mid-word ('solid-board convert…'), so I replaced it with the grounded fact that Mondi is moving customer volumes away from converting plants due to close.