Huhtamäki Oyj - Interim report (Q1 and Q3)

Huhtamäki Oyj's Interim Report January 1 - March 31, 2013: Net sales and EBIT increased

HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 25.4.2013 AT 08:30

- Net sales growth of 4% led by the foodservice acquisition in Asia completed in
2012

- Continued strong earnings improvement in the Foodservice Europe-Asia-Oceania
segment

- Solid net sales growth and earnings development in the Molded Fiber business
segment

- Unfavorable product mix and soft demand for films and flexible packaging
products in Europe impacted the Group's earnings

- Further investments in North America to strengthen the Group's global
foodservice position



Key figures

 EUR million    Q1 2013 Q1 2012 FY 2012
---------------------------------------
 Net sales        568.4   546.8 2,321.2

 EBIT              37.2    34.3   163.5

 EBIT margin, %     6.5     6.3     7.0

 EPS, EUR          0.24    0.24    1.19

 ROI, %            12.9    10.5    12.6

 ROE, %            15.4    11.8    15.8

 Free cash flow   -21.4   -10.9   102.6

 Net debt         432.5   410.2   405.9

 Gearing           0.51    0.53    0.50



Overview
The  Group's trading  conditions remained  relatively stable  despite prevailing
general  economic uncertainty.  Continued customer  cautiousness had  a negative
impact  on  demand  for  consumer  packaging.  Order  sizes  remained  small and
customers  focused on keeping  inventory levels low.  In addition, the prolonged
winter period in Europe and in North America had a negative effect on the demand
of seasonal products. Raw material prices remained stable.

The Group's net sales grew by 4%, driven by the impact of acquisitions completed
in  2012. The Group's net sales were EUR 568 million (EUR 547 million). Reported
net  sales growth  was EUR  22 million. Organic  growth continued  strong in the
Molded Fiber business segment.

The  Group's earnings before  interest and taxes  (EBIT) grew. EBIT  was EUR 37
million  (EUR 34 million). Earnings development was strongest in the Foodservice
Europe-Asia-Oceania  business  segment,  mainly  resulting  from  continued good
progress  in the UK and Russia, as well as contribution of the acquired units in
Asia.

The  Group's free  cash flow  was EUR  -21 million  (EUR -11 million). Return on
investment (ROI) was 12.9% (10.5%) and return on equity (ROE) was 15.4% (11.8%).

The  purchase of a manufacturing facility in Batavia, Ohio, in the United States
was  completed on January 31, 2013, in order to  begin setting up a new state of
the  art  manufacturing  and  distribution  unit.  The  initiation of efficiency
improving  measures within the  Foodservice Europe-Asia-Oceania business segment
and  a cost savings program within the  Films business segment were announced on
March  4, 2013. As detailed action  plans were not  finalized by the  end of the
first quarter, the measures had no effect on the Group's financial figures.

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 - June 30, 2013 on July
19 and January 1 - September 30, 2013 on October 25.

This  is a summary of Huhtamaki's Interim Report January 1 - March 31, 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 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 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.


[HUG#1695911]

Attachments:

Huhtamaki Oyj Interim Report January 1 - March 31, 2013.pdf