Huhtamäki Oyj’s Interim Report January 1 – March 31, 2021: Improved profitability due to gradual recovery in demand

Q1 2021 in brief

  • Net sales decreased by 5% to EUR 802 million. EUR (845 million)
  • Adjusted operating profit was MEUR 77. EUR (EUR 74 million); reported operating profit EUR 72 million EUR (83 million)
  • Adjusted earnings per share were EUR 0.49 (EUR 0.46); reported earnings per share EUR 0.45 (EUR 0.53)
  • Comparable revenue growth was -0% at Group level and 4% in emerging markets
  • The effect of exchange rate fluctuations on the Group’s net sales was EUR -46 million. EUR -5 million in operating profit. euros

CEO Charles Héaulmé:
“The coronavirus pandemic continued to impact the food packaging market globally. Uncertainty related to the pandemic can be seen in most markets. Huhtamaki’s business has withstood the effects of corona restrictions while food demand remained stable.

Huhtamaki’s first quarter of 2021 was satisfactory. Despite the uncertainty in the global economy, demand for foodservice packaging has continued to gradually improve, but remained below normal. Our net sales for the quarter were EUR 802 million, with comparable net sales at the previous year’s level. Adjusted operating profit margin improved 0.9 percentage points to 9.6% in the first quarter, driven by a favorable sales structure and continued efficiency improvements. The impact of exchange rates on our net sales was negative in the first quarter. Our balance sheet remains strong and supports our growth strategy.”
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