Huhtamäki Oyj : Huhtamäki Oyj's Interim Report January 1 - June 30, 2013: Stable net sales and EBIT

  Huhtamäki Oyj : Huhtamäki Oyj's Interim Report January 1 - June 30, 2013:
                          Stable net sales and EBIT

HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 19.7.2013 AT 08:30

- Earnings improvement maintained in the Foodservice Europe-Asia-Oceania
segment
- Continued solid performance in the Molded Fiber segment
- Despite net sales growth earnings declined in the North America segment due
to inventory reductions and higher investment costs
- Declining net sales and earnings in the Films segment due to weak demand of
industrial films
- EPS declined as a result of higher financial and tax expenses

Key figures - excluding non-recurring items

EUR million             H1 2013     H1 2012     Q2 2013     Q2 2012    FY 2012
                                                               
Net sales               1,187.3     1,161.3       618.9       614.5    2,321.2
EBIT*                      86.4        83.9        49.2        49.6      163.5
EBIT margin*, %             7.3         7.2         7.9         8.1        7.0
EPS*, EUR                  0.58        0.62        0.34        0.38       1.19
ROI*, %                    12.3        11.0                             12.6
ROE*, %                    15.0        12.9                             15.8
Free cash flow              5.8        23.8        27.2        34.7      102.6
Net debt                  460.2       480.0                            405.9
Gearing                    0.58        0.61                             0.50
* Excluding EUR -7.3 million non-recurring items (NRI) in Q2 2013 and H1 2013.

Key figures - reported

EUR million    H1 2013 H1 2012 Q2 2013 Q2 2012 FY 2012
                                          
Net sales      1,187.3 1,161.3   618.9   614.5 2,321.2
EBIT              79.1    83.9    41.9    49.6   163.5
EBIT margin, %     6.7     7.2     6.8     8.1     7.0
EPS, EUR          0.51    0.62    0.27    0.38    1.19
ROI, %            11.7    11.0                  12.6
ROE, %            14.1    12.9                  15.8
Free cash flow     5.8    23.8    27.2    34.7   102.6
Net debt         460.2   480.0                 405.9
Gearing           0.58    0.61                  0.50

Overview
The Group's trading  conditions remained relatively  stable despite  continued 
general economic uncertainty and customer cautiousness. The Group's net  sales 
grew by EUR 26  million (equaling 2%)  and were EUR  1,187 million (EUR  1,161 
million). Excluding the adverse currency translation impact, net sales  growth 
was EUR  41 million  (equaling 3%).  During the  second quarter  all  business 
segments except  Films reported  positive organic  growth. Comparable  organic 
growth was strongest in the Molded Fiber business segment.

The Group's earnings before interest and taxes (EBIT), excluding non-recurring
items (NRI) of EUR 7 million, were EUR 86 million (EUR 84 million) and in  the 
second quarter EUR 49 million (EUR 50  million). The reported EBIT was EUR  79 
million (EUR 84  million) and in  the second  quarter EUR 42  million (EUR  50 
million).  Earnings   development   continued  strong   in   the   Foodservice 
Europe-Asia-Oceania business segment.  In the North  America business  segment 
earnings declined despite net sales growth.

The Group's free  cash flow was  EUR 6 million  (EUR 24 million)  and for  the 
second quarter EUR 27  million (EUR 35 million).  Return on investment  (ROI), 
excluding non-recurring items, was 12.3%  (11.0%) and return on equity  (ROE), 
excluding non-recurring items, was 15.0% (12.9%).

Further efficiency improving  measures to improve  the competitiveness of  the 
Foodservice Europe-Asia-Oceania business  segment were announced  on June  13, 
2013, in  addition to  measures  initiated in  the  segment during  the  first 
quarter.  The   North   American  investments   in   foodservice   disposables 
capabilities, announced  during the  first  quarter, progressed  according  to 
plan.

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 - September 30, 2013
on October 25.

This is a summary of Huhtamaki's Interim Report January 1 - June 30, 2013. The
complete report  is attached  to this  release and  is also  available at  the 
company website at www.huhtamaki.com.

For further information, please contact:
Jukka Moisio, CEO, tel. +358 10686 7801

HUHTAMÄKI OYJ
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 www.huhtamaki.com.

Huhtamäki Oyj Interim Report January 1 - June 30, 2013

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Source: Huhtamäki Oyj via Thomson Reuters ONE
HUG#1717470
 
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