Huhtamäki Oyj Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 07, 2024
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Huhtamäki Oyj reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was EUR 1,032.9 million compared to EUR 1,103.6 million a year ago. Net income was EUR 87.2 million compared to EUR 56.3 million a year ago. Basic earnings per share from continuing operations was EUR 0.83 compared to EUR 0.54 a year ago. Diluted earnings per share from continuing operations was EUR 0.83 compared to EUR 0.54 a year ago.
For the full year, the company reported sales was EUR 4,168.9 million compared to EUR 4,479 million a year ago. Net income was EUR 206.3 million compared to EUR 276.2 million a year ago. Basic earnings per share from continuing operations was EUR 1.97 compared to EUR 2.65 a year ago. Diluted earnings per share from continuing operations was EUR 1.97 compared to EUR 2.64 a year ago.
Huhtamaki Oyj specializes in developing, manufacturing and marketing paper, cardboard and plastic packaging. Net sales break down by market as follows:
- outside catering (59.7%): disposable packaging and tableware for the fast-food professionals and vending machine. Net sales break down by geographic area between North America (58.5%) and Europe/Asia/Oceania (41.5%);
- food processing industry and consumer goods (40.3%): flexible packaging, films, molded fiber packaging, etc. for the packaging of food, cosmetics, household products, etc.
Net sales are distributed geographically as follows: Finland (1.8%), the United States (34.9%), Germany (10.5%), the United Kingdom (7.8%), India (6.3%), Turkey (4.2%), Australia (4.2%) , Thailand (3.8%), Poland (3%), South Africa (2.8%), Czech Republic (2.5%), and other (18.2%).
HUHTAMÄKI OYJ 
