Efficiency Program Success
The program to improve efficiency is proceeding well, achieving total savings of €87 million with a cost to achieve of €25 million by the end of Q1 2025.
Acquisition of Selwyn Farms
Huhtamaki acquired Selwyn Farms in North America, a company with approximately $20 million in sales, fitting strategically into the North American business.
Fiber Packaging Growth
Fiber Packaging achieved a comparable growth of 10%, driven by both price and volume, and improved adjusted EBIT by 40% to €12.3 million with a margin of 12.8%.
Adjusted EPS Improvement
Adjusted EPS improved by 7%, now at 59 cents, showcasing better profitability despite challenging market conditions.
Strong Financial Position
Net debt to EBITDA is down to 2.0, and gearing improved to 0.59, with strong cash in the balance sheet and unused committed facilities of €404 million.