3%

Profits in the packaging paper section came down 8 percent on the prior year, impacted by lower average selling prices across most key grades, lower green energy prices and the loss of contribution from the Raubling mill sold during 2015, partially offset by the benefits of completed capital investment projects.

The group’s underlying operating profit in fibre packaging increased 3 percent to €123m, with volume growth in corrugated packaging and a good performance from the core European industrial bags