Operator
Good morning, and welcome to Mondi’s Q3 Trading Update Webinar. [Operator Instructions] I’ll now hand you over to our host for today, Andrew King, CEO. Andrew, please go ahead.
Andrew King
Group CEO & Executive Director
Good morning, everyone, and thank you for joining us today. I’m Andrew King, your group’s CEO; and with me is Mike Powell, our CFO. I’m sure you’ve all seen the announcement today, so I’m just going to pick up on a few points before we go into questions.
Overall, we delivered a resilient performance in the third quarter, considering the impact of planned mentioned shuts and higher-than-anticipated input cost inflation. Good order book supported a positive pricing momentum across much of the portfolio. Reported underlying EBITDA was EUR 196 million for the quarter, with no forestry fair value gain compared to EUR 167 million in the second quarter, which included a fair value loss of EUR 43 million.
Price increases implemented earlier in the year, lifted average selling prices during the quarter and enabled us to offset the higher input costs experienced in the period. That said, cost inflation remained elevated and increased more rapidly than we had anticipated at the half year. Further price increases have been announced across certain paper grades, although these do take time to be fully reflected
