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Shares in Mondi PLC (LSE:MNDI), the international paper and packaging company, fell over 6% to 791p after it reported pressure on selling prices and rising energy costs in its first-quarter results. Underlying EBITDA of €212 million, down slightly versus the €214 million in the final quarter of 2025, as stronger sales volumes were largely cancelled out by the pricing pressure and higher costs. Volumes picked up across both corrugated and flexible packaging, helped by recent capacity additions and a broader spread of end markets. But the good news stopped there. Lower selling prices and higher energy costs took the shine off, while geopolitical tensions in the Middle East added further volatility to energy, raw materials and logistics. CEO Andrew King didn't sugarcoat it: \"Against a backdrop of challenging market conditions, sales volumes increased, although lower selling prices and latterly, cost pressures linked to escalating geopolitical tensions, weighed on underlying EBITDA.\" The company is pushing through pricing increases to claw back margin, though King acknowledged there's a delay before they bite. \"These pressures persist into the second quarter,\" he said, adding that the measures are expected to take full effect in the third quarter. Mondi also announced the closure of three more converting plants - in Hungary, Poland and Germany - cutting 450 jobs and bringing the total number of recently announced closures to six. On top of that, falling wood prices in South Africa mean the company now expects its full-year forestry fair value gain to come in at zero. UPDATE: Adds share price
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