Huhtamäki OyjHalf-yearly Report2019

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Strong net sales growth and solid profitability

Q2 2019 in brief

  • Net sales grew to EUR 867 million (EUR 786 million)
  • Adjusted EBIT was EUR 78 million (EUR 71 million); reported EBIT EUR 78 million (EUR 80 million)
  • Adjusted EPS was EUR 0.51 (EUR 0.46); reported EPS EUR 0.51 (EUR 0.54)
  • Comparable net sales growth was 6% at Group level and 7% in emerging markets
  • Currency movements had a positive impact of EUR 25 million on the Group’s net sales and EUR 2 million on EBIT

H1 2019 in brief

  • Net sales grew to EUR 1,669 million (EUR 1,511 million)
  • Adjusted EBIT was EUR 146 million (EUR 131 million); reported EBIT EUR 145 million (EUR 141 million)
  • Adjusted EPS was EUR 0.95 (EUR 0.86); reported EPS EUR 0.95 (EUR 0.93)
  • Comparable net sales growth was 5% at Group level and 7% in emerging markets
  • Currency movements had a positive impact of EUR 44 million on the Group’s net sales and EUR 4 million on EBIT

Charles Héaulmé, President and CEO:
“In the second quarter of 2019 we achieved a strong growth of 10%, reporting net sales of EUR 867 million. Comparable growth was 6% and in emerging markets 7%. We also continued good progress with our global key accounts. Positive currency translation impact was 3%. The acquisitions completed during the last 12 months accounted for 2% of the total growth, adding EUR 13 million to the net sales.

Our adjusted EBIT for the quarter grew by 11% to EUR 78 million. All segments report an improved adjusted EBIT. The strong net sales growth, led by the North America segment, combined with the efficiency improvement actions and price increases we implemented last year, translated to  higher adjusted earnings. Our tight focus on portfolio and margin management, particularly in Flexible Packaging India, drove profitability improvement.

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Source: Huhtamaki

 

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