Q1 2026 Huhtamaki Oyj Earnings Call Transcript
Key Points
- Huhtamaki Oyj (HMKIY) reported comparable net sales growth despite challenging market conditions.
- The company's adjusted EBIT margin increased to 10% from 9.8% last year.
- Strong cash flow was reported in Q1, significantly up from the previous year.
- The integration of Zellwin Farms is progressing well, marking a successful acquisition.
- The Fiber Packaging segment continues to show strong growth, driven by both pricing and volume.
- Negative currency impacts continued to affect both net sales and EBIT.
- The Middle East conflict has impacted operations, with approximately 4% of sales coming from the region.
- Foodservice demand remained soft, particularly among smaller accounts, leading to an 8% comparable decline.
- Plastic prices have doubled, posing a challenge to profitability and requiring immediate cost pass-through to customers.
- Logistics and transport costs are rising, adding pressure to operational expenses.
Good morning, all. Welcome to Huhtamaki's Q1 2026 results call. My name is Kristian Tammela, VP of IR. We have today released the Q1 report and are hosting our AGM later today. We will now have a presentation first by President and CEO, Ralf Wunderlich; and then by CFO, Thomas Geust.
And after that, we, as usual, have time for Q&A. And with that, let's get started and handing over to Ralf.
Thank you very much, Kristian, and welcome, and good morning to all of you listening into this results call today. I'm, in fact, very pleased to report that we had comparable net sales growth in what you know is a very challenging market. And of course, our growth was supported also by volume growth, which is also very pleasing. Negative currency impact, which we have seen last year in three of the last three quarters already continued into the first quarter this year, which is giving us
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