05 May 2022 --- Mondi is divesting its Russian assets, saying the group is “profoundly concerned about the war in Ukraine and shocked by the humanitarian impact.” The decision comes after months of criticism over the paper and packaging giant’s continued presence in Russia, which it claimed helped local people and had no impact on those in power. However, with the release of its first quarterly results, which shows underlying EBITDA was €574 million (US$606 million), up 63% compared to the prior-year period and up 41% on a sequential basis, the group has decided to sacrifice its Russian operations.
