Huhtamäki Oyj Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 20, 2023 at 01:30 am EDT
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Huhtamäki Oyj reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was EUR 1,037.2 million compared to EUR 1,178.4 million a year ago. Net income was EUR 44.3 million compared to EUR 93 million a year ago. Basic earnings per share from continuing operations was EUR 0.42 compared to EUR 0.89 a year ago. Diluted earnings per share from continuing operations was EUR 0.42 compared to EUR 0.89 a year ago.
For the nine months, sales was EUR 3,136 million compared to EUR 3,375.4 million a year ago. Net income was EUR 119.1 million compared to EUR 219.8 million a year ago. Basic earnings per share from continuing operations was EUR 1.14 compared to EUR 2.11 a year ago. Diluted earnings per share from continuing operations was EUR 1.14 compared to EUR 2.11 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 
