Héaulmé said the company performed well amid challenging market conditions. Credit: T. Schneider via Shutterstock.

Huhtamaki, a sustainable packaging solutions provider, has reported a 7% decrease in net sales for financial year 2023 (FY23), amounting to €4.16bn ($4.49bn), compared with €4.47bn in FY22. 

The company’s comparable net sales growth was down by 2% at the group level and 4% in emerging markets.  

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Despite this downturn in sales, Huhtamaki’s earnings before interest, taxes, depreciation, and amortisation for the period saw a slight increase of 1% to €621.2m. 

The company’s earnings before interest and taxes (EBIT) for the full year stood at €380.9m, marking a 6% decline from €405.3m in FY22.  

Its earnings per share (EPS) also fell significantly by 25% to €1.97 in FY23 from €2.65 a year ago.  

Capital expenditure remained relatively stable at €318.7m, compared to €318.5m in the previous year.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In the fourth quarter of FY23, Huhtamaki’s net sales decreased by 6% to €1.03bn from €1.10bn in the same period a year ago.  

However, the quarter saw substantial improvement in EBIT, which surged by 87% to €146.0m, up from €78.1m a year earlier.  

The company posted EPS growth of 55% to €0.83, and adjusted EPS improved by 5% to €0.68.  

During the reported period, comparable net sales growth at the group level was -3% and -5% in emerging markets. 

Huhtamaki president and CEO Charles Héaulmé said: “We are pleased with the many achievements during the year and energised by the plans going forward. In line with the previous years, we have proven our ability to deliver results in a volatile market environment, thanks to our diverse portfolio and the agility of our organisation.  

“Our investments for growth started to yield benefits, and we have made progress towards our profitability ambition by driving initiatives to improve our competitiveness.”