Huhtamäki Oyj Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
February 12, 2021 at 03:29 pm EST
Share
Huhtamäki Oyj announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced sales was EUR 812.8 million compared to EUR 874.6 million a year ago. Net income was EUR 31 million compared to EUR 48.2 million a year ago. Basic earnings per share from continuing operations was EUR 0.3 compared to EUR 0.46 a year ago. For the full year, sales was EUR 3,301.8 million compared to EUR 3,399 million a year ago. Net income was EUR 176.8 million compared to EUR 190.1 million a year ago. Basic earnings per share from continuing operations was EUR 1.69 compared to EUR 1.82 a year ago.
Huhtamaki Oyj specializes in developing, manufacturing and marketing paper, cardboard and plastic packaging. Net sales break down by market as follows:
- outside catering (59.7%): disposable packaging and tableware for the fast-food professionals and vending machine. Net sales break down by geographic area between North America (58.5%) and Europe/Asia/Oceania (41.5%);
- food processing industry and consumer goods (40.3%): flexible packaging, films, molded fiber packaging, etc. for the packaging of food, cosmetics, household products, etc.
Net sales are distributed geographically as follows: Finland (1.8%), the United States (34.9%), Germany (10.5%), the United Kingdom (7.8%), India (6.3%), Turkey (4.2%), Australia (4.2%) , Thailand (3.8%), Poland (3%), South Africa (2.8%), Czech Republic (2.5%), and other (18.2%).
HUHTAMÄKI OYJ 
