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MND/MNP - Mondi Limited/Mondi plc - Mondi Group: Trading Statement Mondi Limited (Incorporated in the Republic of South Africa) (Registration number: 1967/013038/06) JSE share code: MND ISIN: ZAE000097051 Mondi plc (Incorporated in England and Wales) (Registration number: 6209386) JSE share code: MNP ISIN: GB00B1CRLC47 LSE share code: MNDI 16 February 2009 Johannesburg Mondi Group: Trading Statement As part of the dual listed company structure, Mondi Limited and Mondi plc (together `Mondi Group`) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the JSE listings requirements and / or the Disclosure and Transparency and Listing Rules of the United Kingdom Listing Authority. In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on next will differ by at least 20% from those of the previous corresponding period. Mondi is currently finalising its results for the year ended 31 December 2008 which will be released on 26 February 2009. As announced in Mondi`s Interim Management Statement, dated 20 October 2008, the downturn in trading in its Europe & International Division in the fourth quarter was expected to result in Group underlying operating profit for the year being 10% to 15% below the corresponding period last year. It can be confirmed that Group underlying operating profit for the year is expected to be around the middle of this range. Furthermore, a net special items charge of around Euro380 million is expected for the period. As part of the year end review, and in view of the continuing difficult global economic environment, we have taken impairment charges on the write down of both goodwill and tangible assets of around Euro285 million. A further circa Euro65 million of retention costs and restructuring and closure costs were incurred and provided for in the period. In addition, a non- operating special item charge of circa Euro30 million on disposal of assets has been recorded. The prior period included a net special items charge of Euro8 million, comprising of mainly Euro83 million profit on disposals, offset by a Euro29 million special item financing cost and asset impairments of Euro61 million. The last quarter also saw significant weakness in emerging market currencies versus the euro, resulting in foreign exchange charges of circa Euro30 million being incurred on foreign currency denominated loans made to our businesses in certain of these markets. Coupled with higher emerging market interest rates, this has resulted in finance costs being significantly higher than the first half and prior period. A strong focus on working capital management and cash flow optimisation meant that the closing net debt position was similar to that at the Half-year despite significant cash outflows on the two major strategic expansion projects in Poland and Russia. Accordingly, Mondi advises that it expects earnings per share to be within the ranges shown below: Underlying earnings per share (euro cents per share) 32 to 36 (2007 46.9 Reported) Headline earnings per share (euro cents per share) 19 to 23 (2007 39.5 Reported) Basic loss per share (euro cents per share) -39 to -43 (2007 45.4 Reported profit) Mondi has disclosed underlying EPS, which is defined as Basic EPS excluding the impact of special items, as the Boards of Mondi plc and Mondi Limited believe this provides a useful additional measure of Group underlying performance. The disclosure of Headline EPS is required under the Listing Requirements of the JSE Limited and has been calculated in accordance with Circular 8/2007 as issued by the South African Institute of Chartered Accountants. The above information has neither been reviewed nor audited by Mondi`s auditors. End Contact details: Mondi Group David Hathorn +27 11 9945418 Andrew King +27 11 9945418 Lisa Attenborough +44 1932 826380 / +44 7872 672669 Financial Dynamics Richard Mountain +44 20 7269 7186 / +44 7909 684 466 Louise Brugman +27 11 214 2415 / +27 83 504 1186 Editors` notes: Mondi is an international paper and packaging group and in 2008 had revenues of Euro6.3 billion. Its key operations and interests are in western Europe, emerging Europe, Russia and South Africa. The Group is principally involved in the manufacture of packaging paper and converted packaging products; uncoated fine paper; and speciality products and processes, including coating, release liner and consumer flexibles. Mondi is fully integrated across the paper and packaging process, from the growing of wood and manufacture of pulp and paper (including recycled paper) to the converting of packaging papers into corrugated packaging and industrial bags. Mondi has production operations across 35 countries and had an average of 33,000 employees in 2008. Sponsor: UBS South Africa (Pty) Ltd. Date: 16/02/2009 09:00:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
