Mondi reports EUR 196 million earnings. Jefferies keeps Mondi stock target at GBp 1,080

Published on 10/20/2026 at 13:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mondi's Q3 underlying EBITDA reached EUR 196 million on October 15, 2026. Jefferies kept its GBp 1,080 target unchanged for Mondi stock.

Operating results and target

Mondi reported EUR 196 million of underlying EBITDA for the third quarter on October 15, 2026.
Underlying EBITDA was EUR 379 million for the first half of 2026, while basic underlying earnings per share reached 11.6 euro cents.
Jefferies maintained its GBp 1,080 price target for Mondi on October 15, 2026.

Mondi, GB00BMWC6P49, Illustration mit AI erstellt.

Mondi (ISIN GB00BMWC6P49) reported EUR 196 million in underlying EBITDA for the third quarter ended September 30, 2026. The figure was disclosed in the company's trading update dated October 15, 2026, as higher selling prices and supportive order books offset part of the pressure from energy and wood costs, according to Mondi Group. The stock was trading at EUR 8.85 at Lang & Schwarz on October 20, 2026 at 1:40 p.m. CEST.

Costs reshape the third quarter

Mondi's third-quarter underlying EBITDA compared with EUR 167 million in the second quarter of 2026. The second-quarter figure included a EUR 43 million forestry fair value loss, while the latest quarter included a nil forestry fair value gain, according to Mondi Group.

Energy-related costs increased faster than expected, and wood costs also rose in Central and Eastern Europe. Mondi announced further price increases for selected paper grades during the quarter, with the benefit expected toward the end of 2026 and into 2027. That timing makes pricing power more important than the headline earnings figure for the next reporting cycle.

What do costs mean for earnings?

The answer is visible in the gap between operating progress and input inflation. Mondi said good order books supported positive price momentum, but maintenance shutdowns reduced the sequential contribution from operations. The company also said higher packaging-paper prices should support fourth-quarter performance while energy costs remain a material variable, according to Mondi Group.

Three milestones in 2026

On May 27, 2026, Mondi presented a EUR 500 million eight-year Eurobond. On July 30, 2026, it reported EUR 379 million in underlying EBITDA and 11.6 euro cents in basic underlying earnings per share for the first half. On October 15, 2026, third-quarter underlying EBITDA reached EUR 196 million, according to Mondi Group.

Dates that frame the outlook

Mondi lists its full-year results announcement for February 25, 2027, followed by its first-quarter trading update and annual general meeting on April 30, 2027. These dates give investors the next formal checkpoints for cost inflation, pricing actions and capital allocation, according to Mondi Group.

Target remains above the quote

Jefferies maintained a Buy rating and a GBp 1,080 price target for Mondi on October 15, 2026. The target was retained despite the third-quarter result falling below the broker's estimate, as reported by Markets Insider. The key counter-factor is that energy and wood costs can delay the earnings benefit from higher paper prices.

Stock snapshot

Mondi has a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. The company operates in packaging and paper, with businesses spanning corrugated packaging, flexible packaging, engineered materials and uncoated fine paper.

Mondi was trading at EUR 8.85 at Lang & Schwarz on October 20, 2026 at 1:40 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Mondi stock.