Huhtamäki Oyj - Interim report (Q1 and Q3)

Huhtamäki Oyj's Interim Report January 1 - March 31, 2012: Good start to the year

HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 24.4.2012 AT 08:30

- Net sales growth in all segments

- Improved profitability

- Strong performance of the North America segment

- Acquisition of a major foodservice packaging supplier in Asia announced



Key figures

 EUR million     Q1 2012 Q1 2011    2011
----------------------------------------
 Net sales         550.1   478.0 2,043.6

 EBIT*              33.9    27.4   127.6

 EBIT margin*, %     6.2     5.7     6.2

 EPS*, EUR          0.25    0.17    0.87

 ROI, %             10.5    12.0     9.8

 ROE, %             11.8    13.9    11.0

 Free cash flow    -10.9   -31.6    64.9

 Net debt          407.5   295.0   393.4

 Gearing            0.49    0.35    0.49

* Excluding EUR -7.0 million (net amount) non-recurring items in 2011.


Overview
Demand for consumer packaging was healthy during the first quarter of 2012 and
the Group's trading conditions remained stable despite the general economic
uncertainty. Raw material price levels started to increase at the beginning of
the year and continued to increase throughout the quarter. Foreign currency
movements did not have a major impact on Group's financial figures.

The Group achieved 7% organic growth in net sales during the reporting period,
led by the North America segment. The businesses acquired during 2011
contributed a further 6% resulting to a total net sales growth of 15%, including
a 2% favorable foreign currency impact. The Group's net sales were EUR 550
million (EUR 478 million).

As a result of volume growth the Group's earnings before interest and taxes
(EBIT) grew to EUR 34 million (EUR 27 million). The growth was supported by
favorable product mix development. Earnings development was particularly strong
in the North America segment.

The Group's free cash flow for the reporting period was EUR -11 million (EUR -32
million). Return on investment (ROI) was 10.5% (12.0%) and return on equity
(ROE) was 11.8% (13.9%). Both ROI and ROE improved from the year-end 2011
levels.

In March the Group signed its fourth acquisition in nine months. With the growth
enhancing acquisition of Josco (Holdings) Limited, a major Asian foodservice
packaging supplier, the Group continued to implement its strategy of quality
growth. The transaction was completed on April 2, 2012.

Outlook for 2012
The Group's trading conditions are expected to remain relatively stable during
2012. The good financial position and ability to generate a positive cash flow
will enable the Group to further address profitable growth opportunities. Growth
in net sales is expected to continue and earnings per share (EPS) are expected
to increase compared to the EUR 0.87 (excluding non-recurring items) achieved in
2011. Capital expenditure is expected to be below EUR 100 million.

Financial reporting schedule in 2012
Huhtamaki will publish the interim report for January 1 - June 30, 2012 on July
20 and January 1 - September 30, 2012 on October 19.

This  is a summary of Huhtamaki's Interim Report January 1 - March 31, 2012. The
complete report is attached to this release and is also available at the company
website at www.huhtamaki.com.

Unless  otherwise stated, all statements and  comments presented in this release
relate  to  the  reporting  period  and  all  comparisons  are  compared  to the
corresponding reporting period in 2011.

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

HUHTAMÄKI OYJ
Group Communications

Huhtamaki Group is a leading manufacturer of consumer and specialty packaging
with 2011 net sales totaling EUR 2 billion. Foodservice and consumer goods
markets are served by approximately 14,000 people in 61 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 the NASDAQ OMX
Helsinki Ltd. Additional information is available at www.huhtamaki.com.




[HUG#1604932]

Attachments:

Huhtamäki Oyj Interim Report January 1 - March 31, 2012.pdf