Huhtamäki Oyj : Huhtamäki Oyj's Interim Report January 1 - March 31, 2013: Net sales and EBIT increased

Huhtamäki Oyj : Huhtamäki Oyj's Interim Report January 1 - March 31, 2013: Net
                           sales and EBIT increased


- Net sales growth of 4% led by the foodservice acquisition in Asia completed
in 2012

- Continued strong earnings improvement in the Foodservice Europe-Asia-Oceania

- Solid net sales growth and earnings development in the Molded Fiber business

- Unfavorable product mix and soft demand for films and flexible packaging
products in Europe impacted the Group's earnings

- Further investments in North America to strengthen the Group's global
foodservice position

Key figures

EUR million    Q1 2013 Q1 2012 FY 2012
Net sales        568.4   546.8 2,321.2
EBIT              37.2    34.3   163.5
EBIT margin, %     6.5     6.3     7.0
EPS, EUR          0.24    0.24    1.19
ROI, %            12.9    10.5    12.6
ROE, %            15.4    11.8    15.8
Free cash flow   -21.4   -10.9   102.6
Net debt         432.5   410.2   405.9
Gearing           0.51    0.53    0.50

The Group's trading conditions  remained relatively stable despite  prevailing 
general economic uncertainty. Continued  customer cautiousness had a  negative 
impact on  demand  for consumer  packaging.  Order sizes  remained  small  and 
customers focused on keeping inventory levels low. In addition, the  prolonged 
winter period in  Europe and in  North America  had a negative  effect on  the 
demand of seasonal products. Raw material prices remained stable.

The Group's  net  sales grew  by  4%, driven  by  the impact  of  acquisitions 
completed in  2012.  The Group's  net  sales were  EUR  568 million  (EUR  547 
million). Reported  net  sales  growth  was EUR  22  million.  Organic  growth 
continued strong in the Molded Fiber business segment.

The Group's earnings before  interest and taxes (EBIT)  grew. EBIT was EUR  37 
million  (EUR  34  million).  Earnings   development  was  strongest  in   the 
Foodservice  Europe-Asia-Oceania  business  segment,  mainly  resulting   from 
continued good progress in the UK and  Russia, as well as contribution of  the 
acquired units in Asia.

The Group's free cash flow  was EUR -21 million  (EUR -11 million). Return  on 
investment (ROI)  was 12.9%  (10.5%)  and return  on  equity (ROE)  was  15.4% 

The purchase  of a  manufacturing facility  in Batavia,  Ohio, in  the  United 
States was completed on January 31, 2013,  in order to begin setting up a  new 
state of  the  art manufacturing  and  distribution unit.  The  initiation  of 
efficiency  improving  measures  within  the  Foodservice  Europe-Asia-Oceania 
business segment and a cost savings program within the Films business  segment 
were announced on March 4, 2013.  As detailed action plans were not  finalized 
by the end of  the first quarter,  the measures had no  effect on the  Group's 
financial figures.

Outlook for 2013

The Group's trading conditions are expected to remain relatively stable during
2013. The good financial position and ability to generate a positive cash flow
will enable  the Group  to further  address profitable  growth  opportunities. 
Capital expenditure is  expected to be  above EUR 100  million. A  significant 
part of the  investments is due  to the increases  in foodservice  disposables 
capabilities within the North America segment.

Financial Reporting Schedule in 2013

Huhtamaki will publish the interim report for January 1 - June 30, 2013 on
July 19 and January 1 - September 30, 2013 on October 25.

This is a summary of  Huhtamaki's Interim Report January  1 - March 31,  2013. 
The complete report is attached to this  release and is also available at  the 
company website at

For further information, please contact:
Jukka Moisio, CEO, tel. +358 10686 7801
Timo Salonen, CFO, tel. +358 10 686 7880

Group Communications

Huhtamaki Group is a leading manufacturer of consumer and specialty packaging
with 2012 net sales totaling EUR 2.3 billion. Foodservice and consumer goods
markets are served by approximately 14,400 people in 64 manufacturing units
and several sales offices in 31 countries. The parent company, Huhtamäki Oyj,
has its head office in Espoo, Finland and its share is quoted on NASDAQ OMX
Helsinki Ltd. Additional information is available at

Huhtamaki Oyj Interim Report January 1 - March 31, 2013


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Source: Huhtamäki Oyj via Thomson Reuters ONE
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