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2008-03-31 13:00:00 CEST 2008-03-31 13:00:17 CEST REGULATED INFORMATION Huhtamäki Oyj - Company AnnouncementHuhtamaki specifies first quarter 2008 earnings estimateHUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 31.3.2008 AT 14.00 As announced earlier, Huhtamaki estimates that the Group EBIT in the first quarter will be lower than in the same period in the previous year. The company now specifies that Group EBIT in the first quarter 2008 is approximately EUR 20 million (EUR 38 million in 2007). The main reasons for the lower earnings are weaker performance during the first quarter of this year in the Films business and a significant one time gain received during the first quarter 2007 relating to a long-pending court proceedings settlement. In the full year 2008, Group EBIT is still expected to be at the level of the underlying EBIT in 2007 (EUR 136 million). Volatile raw material and energy prices as well as movements in currency translations remain relevant short-term business risks and uncertainties in the Group's operations. The first quarter 2008 report will be published on April 23, 2008. For further information, please contact: Timo Salonen, CFO, Tel. +358(0)10 686 7880 HUHTAMÄKI OYJ Group Communications Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2007 net sales totaling EUR 2.3 billion. Consumer goods and foodservice markets are served by some 15,000 people in 66 manufacturing units and several sales offices in 36 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and is listed on the Helsinki Stock Exchange. Additional information is available at www.huhtamaki.com. |
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