Huhtamaki Oyj · OMXHEX:HUH1V
Huhtamaki Oyj — Handelsbanken Nordic Seminar 2025
24 slides from Huhtamaki Oyj's conference presentation, Jun 4, 2025
Slide 1: Becoming the first choice in sustainable packaging solutions
Becoming the first choice in sustainable packaging solutions Handelsbanken Nordic Seminar June 4, 2025 1 June 4, 2025 Handelsbanken Nordic Seminar
Slide 2: This is Huhtamaki: net sales and adjusted EBIT
THIS IS NET SALES 4,800 3,600 Global market and innovation leader in sustainable 2,400 packaging for food-on-the-go, food-on-the shelf 1,200 and everyday necessities. 0 Driving profitable growth through scaling core 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 3: A strong local presence, delivering for our customers, globally
NET SALES A strong local presence, €4.1B delivering for our ADJUSTED EBIT customers, globally M€ 416.9 ADJUSTED EBIT MARGIN 10.1% OPERATING COUNTRIES 36 OPERATING LOCATIONS 102 EMPLOYEES 17,794 3 June 4, 2025 Handelsbanken Nordic Seminar
Slide 4: Our 2030 Profitable Growth Strategy
Our 2030 Profitable Growth Strategy Scale up profitable Develop blueloop Operational core businesses sustainable innovation excellence in partnership with our customers With a focus on: 1 • Profitable growth supported by all levers Organic growth 2 • Disciplined capital allocation Reduced capex, sti
Slide 5: Acquisition of Zellwin Farms
Acquisition of Zellwin Farms • Privately-owned manufacturer of molded fiber egg flats and cartons • One factory in Florida, US • EV USD 18 million • Net sales (2024) USD ~20 million • Value and margin accretive transaction from year 1 • Provides the North America segment with increased capacity in a
Slide 6: Clear steps to drive value creation
Clear steps to drive value creation Profitable growth; ambition of 5-6% annual Solid cash flow growth and 10-12% adj. EBIT margin • Capex for organic growth • Profitable growth • Bolt-on acquisitions for inorganic growth • Improved working capital • Disciplined capital allocation Return capital to s
Slide 7: Stable performance in a volatile environment
Stable performance in a volatile environment Interim Report Q1 2025 7 June 4, 2025 Handelsbanken Nordic Seminar
Slide 8: Adj. EPS increased despite flat adj. EBIT
Adj. EPS increased despite flat adj. EBIT MEUR Q1 25 Q1 24 Change • Net sales at the previous year’s level: • Comparable growth: -2% Net sales 1,001.6 1,003.9 0% • Support from changes in Adjusted EBIT1 98.5 98.8 0% currencies: 1% • Adj. EBIT and margin at the previous Margin 9.8% 9.8% year’s level
Slide 9: Foodservice Packaging: Soft demand weighed on performance
Foodservice Packaging: Soft demand weighed on performance Key figures, MEUR Q1 25 Q1 24 Change Net sales (EUR million) Net sales 234.2 241.1 -3% Comparable growth -4% -5% 241 252 247 249 234 Adjusted EBIT1 19.8 22.0 -10% 2024 Margin 8.5% 9.1% 2025 Adjusted RONA 9.9% 10.8% Capital expenditure 4.7 5.4
Slide 10: North America: Timing of sales impacted performance
North America: Timing of sales impacted performance Key figures, MEUR Q1 25 Q1 24 Change Net sales (EUR million) Net sales 345.6 344.1 0% Comparable growth -3% -3% 370 386 Adjusted EBIT1 40.5 47.9 -15% 344 346 359 2024 Margin 11.7% 13.9% 2025 Adjusted RONA 18.5% 19.6% Capital expenditure 12.3 14.6 -
Slide 11: Flexible Packaging: Focus on margin improvement yielded results
Flexible Packaging: Focus on margin improvement yielded results Key figures, MEUR Q1 25 Q1 24 Change Net sales (EUR million) Net sales 328.7 335.2 -2% Comparable growth -2% -1% 335 329 326 334 327 Adjusted EBIT1 26.6 21.6 23% 2024 Margin 8.1% 6.4% 2025 Adjusted RONA 7.5% 6.6% Capital expenditure 5.7
Slide 12: Fiber Packaging: Strong performance continued
Fiber Packaging: Strong performance continued Key figures, MEUR Q1 25 Q1 24 Change Net sales (EUR million) Net sales 95.8 85.0 13% Comparable growth 10% 1% 96 99 92 88 Adjusted EBIT1 12.3 8.6 43% 85 2024 Margin 12.8% 10.1% 2025 Adjusted RONA 15.9% 14.6% Capital expenditure 7.4 3.5 >100% Operating ca
Slide 13: EPS driven by lower financing costs
EPS driven by lower financing costs MEUR Q1 25 Q1 24 Change Q1 commentary: Net sales 1,001.6 1,003.9 0% • Net sales and adj. EBIT at the Adjusted EBITDA1 152.0 149.0 2% previous year’s level Margin 1 15.2% 14.8% 2 98.5 98.8 0% • Financing costs decreased Adjusted EBIT Margin 2 9.8% 9.8% • High level
Slide 14: Currency impact turned positive
Currency impact turned positive Average Average Change in Change in Closing rates rate rate average closing Q1 24 Q1 25 rate Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 rate (YoY) USD 1.09 1.05 3% 1.08 1.07 1.12 1.04 1.08 0% Foreign currency INR 90.18 91.12 -1 % 90.13 89.24 93.38 89.27 92.35 -2% translation impac
Slide 15: Net debt to adjusted EBITDA stable at 2.0
Net debt to adjusted EBITDA stable at 2.0 Net debt, net debt/adj. EBITDA and gearing Covenant level 3.75 • Net debt/Adj. EBITDA at 2.0 1,249 1,255 1,252 1,220 1,216 • At the end of Q1 2025: Ambition • Cash and cash equivalents 2.1 2.0 2.0 2.0 2.0 2–3 EUR 277 million • Unused committed credit Net deb
Slide 16: Loan maturities
Loan maturities Debt maturity structure March 31, 2025 (EUR million) 600 • Average maturity 2.9 years at the 500 end of Q1 2025 (2.6 at the end of Q1 2024) 400 300 200 100 0 2025 2026 2027 2028 2029 Later Lease liabilities Available unused committed facilities Drawn committed credit facilities Comme
Slide 17: Cash flow decreased due to an increase in working capital
Cash flow decreased due to an increase in working capital Free cash flow bridge (EUR million) Change in working capital the main 150 138 negative factor, due to: • Increase in inventory 38 • Decrease in payables 0 10 2 -4 -8 -2 -11 0 Support from: -30 -37 -22 -55 • Higher reported EBITDA • Lower cap
Slide 18: Progress towards long-term financial ambitions
Progress towards long-term financial ambitions Long-term 2018 2019 2020 2021 2022 2023 2024 Q1 25 ambition Comparable net sales growth 5% 6% -2% 7% 15% -2% 0% -2% 5-6% Adjusted EBIT margin 8.1% 8.6% 9.1% 8.8% 8.8% 9.4% 10.1% 9.8% 10-12% Adj. ROI 11.6% 12.3% 11.7% 11.3% 11.0% 11.2% 12.1% 12.0% 13-15%
Slide 19: Group financials 2015-2024
Group financials 2015-2024 2015 2016 2017 20182 2019 2020 2021 2022 2023 2024 Net sales MEUR 2,726 2,865 2,989 3,104 3,399 3,302 3,575 4,479 4,169 4,126 Comparable growth3 4% 4% 3% 5% 6% -2% 7% 15% -2% -0% Adjusted EBITDA4 MEUR 342 382 390 399 456 473 488 597 590 622 Margin4 12.5% 13.3% 13.0% 12.8%
Slide 20: Segment key figures (1/2)
Segment key figures (1/2) Foodservice Packaging Key figures (MEUR) 2017 20181 2019 2020 2021 2022 2023 2024 Long-term ambition Net sales 807.5 881.7 956.7 829.1 941.8 1,110.7 1,037.2 959.6 Comparable growth 4% 4% 4% -10% 11% 18% 2% -5% 4-5% Adjusted EBIT 70.1 77.1 85.7 60.9 77.8 105.7 98.0 91.0 Marg
Slide 21: Segment key figures (2/2)
Segment key figures (2/2) North America Key figures (MEUR) 2017 20181 2019 2020 2021 2022 2023 2024 Long-term ambition Net sales 1,000.4 1,002.7 1,152.7 1,138.9 1,160.3 1,468.3 1,457.9 1460.1 Comparable growth 2% 5% 9% 1% 6% 14% 2% 0% 5-6% Adjusted EBIT 104.1 73.0 111.4 136.6 139.1 171.6 187.9 203.4
Slide 22: Comparable net sales growth by business segment
Comparable net sales growth by business segment Quarterly Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Foodservice Packaging 18% 18% 22% 15% 11% 5% -3% -5% -5% -6% -6% -6% -4% North America 24% 14% 10% 10% 2% 1% 1% 4% -3% -2% -2% -2% -3% Flexible Packaging 18% 19% 20
Slide 23: Disclaimer
Disclaimer Information presented herein contains, or may be deemed to contain, forward-looking statements. These statements relate to future events or Huhtamäki Oyj’s or its affiliates’ (“Huhtamaki”) future financial performance, including, but not limited to, strategic plans, potential growth, expe
Slide 24: Thank You
Thank You Huhtamaki Investor Relations ir@huhtamaki.com