Huhtamäki Oyj’s Interim Report January 1–September 30, 2025: Underlying profit improvements offset by adverse currency impact

Core Insights - Huhtamaki Oyj reported a decrease in net sales by 5% to EUR 970.6 million in Q3 2025, primarily due to adverse currency impacts, with comparable net sales growth at -1% [3][6][10] - The company experienced a decline in reported EBIT to EUR 91.6 million, down from EUR 95.1 million in Q3 2024, while adjusted EBIT was EUR 100.3 million, reflecting a 2% decrease [6][10][18] - Despite challenging market conditions, the company improved its adjusted EBIT margin to 10.3% from 10.0% in the previous year, driven by cost-saving initiatives [10][11][17] Q3 2025 Financial Performance - Net sales decreased to EUR 970.6 million from EUR 1,026.2 million, with a comparable net sales growth of -1% [3][6] - Adjusted EBITDA was EUR 151.7 million, a slight decrease of 1% from EUR 153.1 million in Q3 2024 [3][6] - Reported EPS was EUR 0.56, down from EUR 0.57, while adjusted EPS was EUR 0.62, a decrease from EUR 0.63 [6][18] Business Segment Performance - Foodservice Packaging segment saw a 3% decline in net sales to EUR 240.0 million, while North America experienced an 8% decrease to EUR 331.2 million [13][22] - Flexible Packaging net sales decreased by 7% to EUR 309.8 million, whereas Fiber Packaging reported a 5% increase to EUR 92.4 million [13][22] - Adjusted EBIT for Fiber Packaging increased by 43% to EUR 11.6 million, while North America's adjusted EBIT decreased by 31% to EUR 34.2 million [16][24] Year-to-Date Financial Overview - For the first three quarters of 2025, net sales totaled EUR 2,979.6 million, down 3% from EUR 3,067.6 million in the same period of 2024 [22][24] - Adjusted EBIT for the year-to-date period was EUR 301.8 million, a decrease of 2% compared to EUR 306.7 million in 2024 [24][28] - The Group's adjusted EBIT margin for the first three quarters improved to 10.1% from 10.0% in the previous year [26][28] Strategic Focus and Outlook - The company continues to focus on capital discipline and strategic growth areas despite challenging market conditions [12][30] - The financial position remains strong, allowing the company to pursue profitable growth opportunities [30][34] - The outlook for 2025 remains unchanged, with expectations of stable trading conditions [30]