Huhtamaki has released its results for the first half of 2023, saying it has a stable performance in a challenging market.
Net sales decreased 4% to €2,099m (2,197) and adjusted EBIT was €185m (200).
Charles Héaulmé, President and CEO, said,“The market environment remained muted in the second quarter of 2023, as inflation affected consumption across categories and geographies. Destocking also continued to impact volumes during the second quarter, although at a lower level than during the first quarter.”
He concluded, “Our financial performance in the second quarter was in line with the first quarter of 2023, however it was soft compared to last year. Market conditions remained challenging, resulting in lower sales volumes. Our comparable net sales decreased by 2% in the second quarter but remained stable during the first half of the year. During the second quarter, the North America segment delivered a strong adjusted EBIT. We also had solid performance by the Foodservice Europe-Asia-Oceania and Fiber Packaging segments. However, the Flexible Packaging segment continued to face decreased demand, particularly impacted by inflation.”