Huhtamäki Oyj's Interim Report January 1 - June 30, 2011: Net sales growth accelerated
(Thomson Reuters ONE) -
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 21.7.2011 AT 08:30
- Healthy 5% net sales growth in constant currencies driven by emerging markets
- Strong performance continued in the Flexible Packaging segment
- Raw material price pressure, certain short term operational issues and adverse
currency translations affected EBIT
- Earnings per share (EPS) were EUR 0.45
Key figures
EUR million H1 2011 H1 2010 Q2 2011 Q2 2010 2010
--------------------------------------------------------------------
Continuing operations
Net sales 1,006.0 970.2 528.0 522.3 1,951.8
EBIT 67.4 73.2 40.0 44.3 134.3
EBIT margin % 6.7 7.5 7.6 8.5 6.9
EPS (EUR) 0.45 0.47 0.28 0.30 0.92
Including discontinued operations divested in 2010
EPS (EUR) 0.45 0.51 0.28 0.32 1.02
ROI % 11.2 10.0 12.0
Free cash flow -19.2 44.3 12.4 37.2 112.9
Net debt 330.5 378.0 269.9
Gearing % 0.40 0.46 0.32
Overview
The Group's trading conditions were stable during the first half of the year.
Demand for consumer packaging remained robust within emerging markets and the
Group's net sales growth accelerated towards the end of the reporting period.
Raw material price levels remained high throughout the reporting period and
currencies moved adversely in the second quarter. The Group's trading conditions
have been specified in the outlook for 2011.
As a result of favorable volume development, especially within the Flexible
Packaging segment, Group net sales grew within the reporting period compared to
the corresponding period in 2010. In constant currencies the Group's net sales
grew by a healthy 5% in the reporting period. Emerging markets' net sales growth
was 14%. Adverse currency translations, especially in North America, had a
significant negative impact in reported net sales development in the second
quarter.
Group earnings before interest and taxes (EBIT) for the reporting period were
EUR 6 million lower compared to the corresponding period in 2010. Cost pressure
from high raw material costs continued during the first half of the year. Net
sales growth and continued cost containment were not sufficient to entirely
offset the high costs caused by raw material prices and certain short term
operational issues in the second quarter. Currency translations also had a
negative impact on earnings during the second quarter.
The Group's free cash flow turned positive during the second quarter, but was
EUR -19 million in the reporting period (EUR 44 million). Return on investment
(ROI) was 11.2% (10.0%).
Outlook for 2011
The Group's trading conditions are expected to remain similar to the trading
conditions experienced earlier in 2011. Raw material prices are not expected to
increase further. Financial charges and tax expenses are expected to increase
from the exceptionally low level in 2010.
The good financial position and ability to generate a positive cash flow will
enable the Group to address profitable growth opportunities. Capital expenditure
is expected to be around EUR 100 million.
Financial reporting schedule in 2011
Huhtamaki will publish the interim report for January 1 - September 30, 2011 on
October 20.
This is a summary of Huhtamaki's interim report for January 1 - June 30, 2011.
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 2010 net sales totaling EUR 2 billion. Foodservice and consumer goods
markets are served by approximately 12,000 people in 53 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.
Huhtamäki Oyj Interim Report January 1-June 30, 2011:
http://hugin.info/3006/R/1532355/466599.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Huhtamäki Oyj via Thomson Reuters ONE
[HUG#1532355]
Unternehmensinformation / Kurzprofil:
Datum: 21.07.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 56587
Anzahl Zeichen: 5639
contact information:
Town:
Espoo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 191 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Huhtamäki Oyj's Interim Report January 1 - June 30, 2011: Net sales growth accelerated"
steht unter der journalistisch-redaktionellen Verantwortung von
Huhtamäki Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
