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July 22, 2022

Huhtamaki posts 31% net sales growth in second quarter of FY22

The company’s comparable net sales rose by 17% at a group level and 16% in emerging markets.

Finnish consumer packaging company Huhtamaki has reported a 31% increase in its net sales for the second quarter (Q2) of the fiscal year 2022 (FY22), which stood at €1.14bn compared with €876.9m a year earlier.

During the three months to 30 June, the company’s comparable net sales rose by 17% at a group level and 16% in emerging markets.

Driven by a sales growth, an ongoing focus on operational efficiency and acquisitions, Huhtamaki saw its Q2 adjusted earnings before interest and taxes (EBIT) increase to €103m.

The company’s adjusted earnings per share (EPS) also grew to €0.63 from €0.53 in the same period of last year.

Huhtamaki president and CEO Charles Héaulmé said: “We continued delivering a strong performance in the second quarter of 2022, despite volatile market conditions.

“We faced strong headwinds created by supply chain constraints, challenges with raw material availability and geopolitical turmoil.

“In most markets, demand developed favourably and has returned to pre-pandemic levels, however with some exceptions, particularly in China.

“Tensions on raw material availability limited our capacity to further grow volumes according to the demand, most notably in North America.”

Huhtamaki posted €2.19bn in net sales for the first half (H1) of FY22, up by 31% compared with €1.67bn in the corresponding period of FY21.

The company’s comparable net sales growth for the period was 18% at a group level and 17% in emerging markets.

Héaulmé added: “We are pleased by our strong and consistent performance during the first half of the year.

“Our ability to handle adverse and volatile conditions emphasizes the agility of our team, the efficiency of our global footprint and the resilience of our diverse portfolio.”

Earlier this year, Huhtamaki decided to divest its operations in Russia in response to the country’s aggression against Ukraine.

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