April 9, 2020 / 6:25 AM / 4 months ago

CORRECTED-BRIEF-Mondi Withdraws 2019 Dividend, Says COVID-19 Impact unclear

(Corrects typo in brief headline to 2019)

April 9 (Reuters) - Mondi Plc:

* REG-MONDI PLC: COVID-19, TRADING AND AGM UPDATE

* ORDER BOOKS HELD UP WELL IN Q1

* POTENTIAL IMPACTS OF COVID-19 REMAIN VERY UNCLEAR

* GROUP DELIVERED A ROBUST PERFORMANCE, IN LINE WITH EXPECTATIONS, DURING Q1 OF 2020.

* Q1 UNDERLYING EBITDA OF EUR 385 MILLION WAS 18% BELOW COMPARABLE PRIOR YEAR PERIOD

* TEMPORARILY STOPPED PRODUCTION AT MEREBANK MILL

* TOWARDS END OF QUARTER AND INTO EARLY APRIL WE SAW A DETERIORATION IN OUR UNCOATED FINE PAPER ORDER BOOK IN EUROPE AND SOUTH AFRICA

* IN FLEXIBLE PACKAGING, WE ARE SEEING STRENGTH IN A NUMBER OF CONSUMER RELATED APPLICATIONS

* EXPECT CAPITAL EXPENDITURE OF AROUND EUR 600 MILLION (PREVIOUSLY EUR 700-800 MILLION) IN 2020.

* TO NO LONGER PROPOSE A FINAL DIVIDEND FOR YEAR ENDED 31 DECEMBER 2019 AT FORTHCOMING AGM.

* SEEING SOMEWHAT WEAKER TRADING WITH CUSTOMERS IN BUILDING AND CONSTRUCTION INDUSTRIES AND A MIXED PICTURE IN INDUSTRIAL AND OTHER END-USES

* SEEN STRENGTHENING IN CONSUMER AND E-COMMERCE END-USES ACROSS PACKAGING AND ENGINEERED MATERIALS BUSINESSES Source text for Eikon: Further company coverage:

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