Stable Financial Performance
Despite a volatile environment, Huhtamaki's financial performance remained stable with net sales and adjusted EBIT in line with the previous year's Q1 figures.
Efficiency Program Progress
The company's program to improve efficiency is proceeding well with total savings of €87 million and a cost to achieve of €25 million, indicating significant progress.
Acquisition in North America
Huhtamaki successfully signed and closed the acquisition of Selwyn Farms, a privately-owned company in the egg packaging business in North America, contributing approximately $20 million in sales.
Improved EPS and Reduced Capital Expenditure
Adjusted EPS improved by 7% to 59 cents, with a reduction in capital expenditure by €6.5 million, supporting business growth.
Strong Performance in Fiber Packaging
Fiber Packaging experienced a 10% growth driven by price and volume, leading to a 40% improvement in adjusted EBIT, now at €12.3 million with a margin of 12.8%.