MONDI PLC - Mondi to divest its packaging converting operations in Russia

Mondi to divest its packaging converting operations in Russia

Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI         ISIN: GB00B1CRLC47
JSE share code: MNP

15 December 2022

Mondi to divest its packaging converting operations in Russia

Mondi plc (‘Mondi’ or the ‘Group’) confirms that it has entered into an agreement to sell its
three Russian packaging converting operations to the Gotek Group for a consideration of RUB
1.6 billion (around €24 million at current exchange rate), payable in cash on completion (the
‘Disposal’).


The three packaging converting operations comprise a corrugated solutions plant and two
consumer flexibles plants, producing a range of packaging solutions for the domestic Russian
market. The loss on the Disposal is expected to be in the range of €70-80 million at current
exchange rate.
The Gotek Group is a leading Russian packaging producer, headquartered in Moscow, and
employs around 2,200 employees across its business.

The Disposal is conditional on the approval of the Russian Federation’s Government Sub-
Commission for the Control of Foreign Investments and customary antitrust approvals and is
expected to complete in the first half of 2023. However, as the Disposal is being undertaken
in an evolving political and regulatory environment, there can be no certainty as to when the
Disposal will be completed.

The Disposal follows Mondi’s announcement on 4 May 2022 that, having assessed all options
for the Group’s interests in Russia, it had decided to divest its Russian assets. The Disposal
is not affiliated with the proposed disposal of Mondi Syktyvkar for which the approval of the
Russian Federation’s Government Sub-Commission for the Control of Foreign Investments
and customary antitrust approvals remain outstanding.


Enquiries

Investors/analysts
Mike Powell                                                +44 193 282 6322
Mondi Group Chief Financial Officer

Media
Chris Gurney                                               +44 193 282 6358
Mondi Group Senior Communications Manager

Richard Mountain (FTI Consulting)                          +44 790 968 4466
About Mondi
Mondi is a global leader in packaging and paper, contributing to a better world by making
innovative solutions that are sustainable by design. Our business is integrated across the
value chain – from managing forests and producing pulp, paper and films, to developing and
manufacturing sustainable consumer and industrial packaging solutions using paper where
possible, plastic when useful. Sustainability is at the centre of our strategy, with our ambitious
commitments to 2030 focused on circular driven solutions, created by empowered people,
taking action on climate.

In 2021, Mondi had revenues of €7.0 billion and underlying EBITDA of €1.2 billion from
continuing operations, and employed 21,000 people worldwide. Mondi has a premium listing
on the London Stock Exchange (MNDI), where the Group is a FTSE100 constituent, and also
has a secondary listing on the JSE Limited (MNP).

mondigroup.com

Sponsor in South Africa: Merrill Lynch South Africa Proprietary Limited t/a BofA Securities.

Date: 15-12-2022 11:00:00
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