HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 6.4.2009 AT 09.00
As announced earlier, Huhtamäki Oyj adopted new segment structure for
financial reporting as of January 1, 2009. The Interim Report for
January 1 - March 31, 2009 will be according to the new structure. In
the tables below quarterly figures for 2008 have been adjusted to
match the new segments.
The reporting segments as of January 1, 2009 are:
Flexibles Global
Flexibles business is organized as a global segment. Flexibles are
used for food and pet food packaging as well as non-food consumer
packaging.
Films Global
Films business is organized as a global segment. Films are mainly
used for technical applications in the label, adhesive tape, hygiene
and health care industries, as well as building and construction,
automotive, packaging and graphic arts industries.
North America
The segment includes the Rigid and Molded Fiber business in North
America and Mexico. Rigid paper and plastic packaging, which serves
ice-cream and other consumer goods as well as foodservice markets, is
completed with Molded Fiber Chinet® disposable tableware products.
Rough Molded Fiber Global
The segment includes the Rough Molded Fiber business in Europe,
Oceania, Africa and South America. Rough molded fiber is used to make
fresh product packaging, such as egg and fruit packaging.
Foodservice Europe-Asia-Oceania
Foodservice paper and plastic disposable tableware is supplied to
foodservice operators and fast food restaurants.
Rigid Consumer Goods Plastics
The segment includes the Rigid Consumer Goods Plastics business in
Europe, Oceania and South America. Rigid plastic packaging serves the
consumer goods markets with fresh food, dairy, ice cream and edible
fats packaging.
Segments
Segment information is presented according to the IFRS standards.
Items below EBIT - financial items and taxes - are not allocated to
the segments.
Unaudited
Net sales
Q4 Q3 Q2 Q1 Q1-Q4
EUR million 2008 2008 2008 2008 2008
Flexibles Global 117.9 123.9 124.7 127.8 494.3
- Intersegment net sales -0.8 1.4 1.7 1.0 3.3
Films Global 40.9 50.8 51.6 50.5 193.8
- Intersegment net sales 1.0 1.5 1.8 2.6 6.9
North America 148.5 132.4 137.6 113.3 531.8
- Intersegment net sales 1.4 1.0 1.0 0.8 4.2
Rough Molded Fiber Global 51.5 53.1 54.1 54.7 213.4
- Intersegment net sales 0.2 0.3 0.1 0.0 0.6
Foodservice Europe-Asia-Oceania 107.0 118.7 124.6 106.4 456.7
- Intersegment net sales 7.9 8.1 8.2 8.6 32.8
Rigid Consumer Goods Plastics 83.0 93.2 97.9 95.9 370.0
- Intersegment net sales 3.8 4.7 6.4 4.9 19.8
Elimination of intersegment net sales 13.5 17.0 19.2 17.9 67.6
Total 548.8 572.1 590.5 548.6 2,260.0
EBIT
Q4 Q3 Q2 Q1 Q1-Q4
EUR million 2008 2008 2008 2008 2008
Flexibles Global (1 -16.6 3.9 5.5 6.2 -1.0
Films Global 0.1 3.7 3.6 0.5 7.9
North America (2 1.2 10.5 14.4 7.3 33.4
Rough Molded Fiber Global (3 -1.4 3.7 3.0 3.1 8.4
Foodservice Europe-Asia-Oceania (4 -15.2 5.9 5.3 2.4 -1.6
Rigid Consumer Goods Plastics (5 -117.7 -1.4 -4.8 0.5 -123.4
Other activities 1.9 -0.1 0.0 0.0 1.8
Total (6 -147.7 26.2 27.0 20.0 -74.5
1) Q4 2008 includes includes restructuring charges MEUR 1.7, goodwill
impairment charges MEUR 7.4 and tangible asset impairment charges
MEUR 8.8.
2) Q4 2008 includes restructuring charges MEUR 2.0 and tangible asset
impairment charges MEUR 3.2.
3) Q4 2008 includes goodwill impairment charges MEUR
3.7.
4) Q4 2008 includes restructuring charges MEUR 3.3, goodwill
impairment charges MEUR 7.1 and tangible asset impairment charges
MEUR 4.1.
5) Q4 2008 includes restructuring charges MEUR 2.3, goodwill
impairment charges MEUR 54.1 and tangible asset impairment charges
MEUR 60.9, Q3 2008 includes restructuring charges MEUR 0.1, Q2 2008
includes restructuring charges MEUR
6.8.
6) Q4 2008 includes restructuring charges MEUR 9.3, goodwill
impairment charges MEUR 72.3 and tangible asset impairment charges
MEUR 77.0, Q3 2008 includes restructuring charges MEUR 0.1, Q2 2008
includes restructuring charges MEUR 6.8, total amount MEUR
165.5.
Depreciation and amortization
Q4 Q3 Q2 Q1 Q1-Q4
EUR million 2008 2008 2008 2008 2008
Flexibles Global 5.2 5.1 4.5 4.5 19.3
Films Global 1.1 1.7 1.6 1.4 5.8
North America 5.2 4.3 4.3 4.3 18.1
Rough Molded Fiber Global 2.7 2.8 2.9 3.0 11.4
Foodservice Europe-Asia-Oceania 5.5 7.6 5.2 5.2 23.5
Rigid Consumer Goods Plastics 3.9 4.4 4.4 4.5 17.2
Other activities 0.6 0.3 0.2 0.2 1.3
Total 24.2 26.2 23.1 23.1 96.6
Net assets allocated to the segments (7
Q4 Q3 Q2 Q1
EUR million 2008 2008 2008 2008
Flexibles Global 359.7 389.2 373.1 381.4
Films Global 133.1 146.2 140.8 145.3
North America 379.2 390.2 358.9 370.0
Rough Molded Fiber Global 164.1 177.6 180.2 182.6
Foodservice Europe-Asia-Oceania 244.2 284.0 286.0 293.6
Rigid Consumer Goods Plastics 129.7 262.0 267.7 276.3
7) Net assets include the following balance sheet items: intangible
and tangible assets, other non-current assets, inventories, trade and
other current receivables
(excluding accrued interest income), other non-current liabilities
and trade and other current liabilities (excluding accrued interest
expense).
Capital expenditure
Q4 Q3 Q2 Q1 Q1-Q4
EUR million 2008 2008 2008 2008 2008
Flexibles Global 4.9 3.0 8.6 4.7 21.2
Films Global 0.5 0.8 1.0 2.1 4.4
North America 5.9 4.0 2.6 1.3 13.8
Rough Molded Fiber Global 4.8 3.1 1.0 0.8 9.7
Foodservice Europe-Asia-Oceania 6.3 4.2 3.2 3.2 16.9
Rigid Consumer Goods Plastics 4.1 1.3 1.4 0.7 7.5
Other activities 0.1 0.0 0.0 0.7 0.8
Total 26.6 16.4 17.8 13.5 74.3
RONA, % (12m roll.)
Q4 Q3 Q2 Q1
2008 2008 2008 2008
Flexibles Global -0.3% 3.7% 4.7% 5.5%
Films Global 5.6% 5.9% 6.6% 6.8%
North America 8.9% 7.8% 8.0% 8.7%
Rough Molded Fiber Global 4.8% 7.6% 7.6% 8.1%
Foodservice Europe-Asia-Oceania -0.6% 8.1% 7.1% 6.9%
Rigid Consumer Goods Plastics -52.8% -34.6% -31.1% -27.4%
Operating Cash Flow
Q4 Q3 Q2 Q1 Q1-Q4
EUR million 2008 2008 2008 2008 2008
Flexibles Global 12.7 -3.2 6.7 4.6 20.8
Films Global 13.9 0.5 7.7 2.5 24.6
North America 16.5 6.7 23.1 -3.9 42.4
Rough Molded Fiber Global 3.6 3.9 8.7 1.2 17.4
Foodservice Europe-Asia-Oceania 3.6 7.6 14.5 1.3 27.0
Rigid Consumer Goods Plastics 11.6 -1.2 19.9 5.5 35.8
As net sales and EBIT of reportable segments form Groups' total net
sales and EBIT, reconciliations to corresponding amounts are not
presented.
For further information, please contact:
Mr. Timo Salonen, CFO, Tel. +358(0)10 686 7880
HUHTAMÄKI OYJ
Group Communications
Huhtamaki Group is a leading manufacturer of consumer and specialty
packaging with 2008 net sales totaling EUR 2.3 billion. Consumer
goods and foodservice markets are served by some 14,600 people in 65
manufacturing units and several sales offices in 35 countries. The
parent company, Huhtamäki Oyj, has its head office in Espoo, Finland
and is listed on the NASDAQ OMX Helsinki Ltd. Additional information
is available at www.huhtamaki.com.