Huhtamäki Oyj's Interim Report January 1–September 30, 2025: Underlying profit improvements offset by adverse currency impact
Q3 2025 in brief
Net sales decreased 5% to EUR 970.6 million (EUR 1,026.2 million)
Comparable net sales growth at Group level was -1%
Reported EBIT was EUR 91.6 million (EUR 95.1 million); adjusted EBIT was EUR 100.3 million including an adverse currency impact of EUR 4 million (EUR 102.4 million)
Reported EPS was EUR 0.56 (EUR 0.57); adjusted EPS was EUR 0.62 (EUR 0.63)
The impact of currency movements on the Group's net sales was EUR -44 million and EUR -4 million on EBIT
Q1-Q3 2025 in brief
Net sales decreased 3% to EUR 2,979.6 million (EUR 3,067.6 million)
Comparable net sales growth at Group level was -1%
Reported EBIT was EUR 231.5 million (EUR 277.3 million); adjusted EBIT was EUR 301.8 million including an adverse currency impact of EUR 5 million (EUR 306.7 million)
Reported EPS was EUR 1.30 (EUR 1.53); adjusted EPS was EUR 1.83 (EUR 1.80)
The impact of currency movements on the Group's net sales was EUR -66 million and EUR -5 million on EBIT
Capital expenditure was EUR 109.7 million (EUR 134.1 million)
Free cash flow was EUR 136.9 million (EUR 160.2 million)
Key figures
EUR million
Q3 2025
Q3 2024
Change
Q1-Q3 2025
Q1-Q3 2024
Change
2024
Net sales
970.6
1,026.2
-5%
2,979.6
3,067.6
-3%
4,126.3
Comparable net sales growth
-1%
0%
-1%
-1%
0%
Adjusted EBITDA1
151.7
153.1
-1%
458.2
458.5
0%
622.2
Margin1
15.6%
14.9%
15.4%
14.9%
15.1%
EBITDA
145.1
148.4
-2%
471.0
444.2
6%
595.6
Adjusted EBIT2
100.3
102.4
-2%
301.8
306.7
-2%
416.9
Margin2
10.3%
10.0%
10.1%
10.0%
10.1%
EBIT
91.6
95.1
-4%
231.5
277.3
-16%
372.3
Adjusted EPS, EUR3
0.62
0.63
-2%
1.83
1.80
2%
2.48
EPS, EUR
0.56
0.57
-2%
1.30
1.53
-15%
2.14
Adjusted ROI2
11.9%
12.0%
12.1%
Adjusted ROE3
13.5%
13.7%
13.4%
ROI
9.6%
12.3%
10.8%
ROE
10.3%
13.6%
11.6%
Capital expenditure
36.5
49.4
-26%
109.7
134.1
-18%
247.9
Free Cash Flow
73.8
68.4
8%
136.9
160.2
-15%
215.8
1 Excluding IAC of
-6.6
-4.8
12.8
-14.3
-26.5
2 Excluding IAC of
-8.7
-7.3
-70.3
-29.4
-44.7
3 Excluding IAC of
-6.3
-6.4
-55.3
-28.0
-35.1
Unless otherwise stated, all comparisons in this report are compared to the corresponding period in 2024. Figures of return on investment (ROI), return on equity (ROE) and return on net assets (RONA) as well as net debt to EBITDA presented in this report are calculated on a 12-month rolling basis.IAC includes, but is not limited to, material restructuring costs and acquisition related costs (gains and losses on business combinations, professional and legal fees, material purchase price accounting adjustments for inventory, material purchase price amortization of intangible assets and changes in contingent considerations) as well as material impairment losses and reversals, gains and losses relating to sale of intangible and tangible assets, implementation costs concerning large projects with SaaS cloud computing technology, fines and penalties imposed by authorities and extraordinary taxes.The figures in the tables are exact figures and consequently the sum of individual figures may deviate from the sum presented. Key figures have been calculated using exact figures.
Ralf K. Wunderlich, President and CEOMarket conditions in the third quarter remained similar to what we saw during the first half of the year. Demand continued to be impacted by consumers' cautiousness, geopolitical tensions and the US tariffs situation, with variations between markets and businesses. In addition, significant currency movements, particularly the weakened US dollar, had an adverse translational impact on our financial performance.
Third quarter net sales decreased mainly due to the negative impact from currency movements, and comparable net sales decreased by 1%. Sales prices and improved mix had a positive effect. While sales volumes decreased, we saw positive ...
