New segment reporting in Huhtamaki

 | Source: Huhtamäki Oyj Huhtamäki Oyj

HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 31.3.2008 AT 19.20
  
As announced earlier, Huhtamaki has decided to revise its segment reporting to improve transparency. The five new segments are fully in line with Huhtamaki's internal management structure and will replace the former geographical segments (Europe, Americas, Asia-Oceania-Africa).
 
The new segments are:
 
Flexibles and Films Global
Flexibles and Films businesses are organized as a global segment. Flexibles are used for food and pet food packaging as well as non-food consumer packaging. 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.
 
Rigid Europe
Rigid paper and plastic packaging serve the foodservice and consumer goods markets in Europe with fresh food, dairy, ice cream, beverage and personal care packaging as well as disposable tableware. Rigid packaging is supplied to foodservice operators, fast food restaurants and food manufacturers.
 
Molded Fiber Europe
Molded Fiber in Europe is a distinct business. Molded fiber is used to make fresh product packaging, such as egg and fruit packaging.
 
Rigid and Molded Fiber Americas
Strong supply channels are a common nominator for Americas Rigid and Molded Fiber businesses. 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.
 
Rigid and Molded Fiber Asia-Oceania-Africa
Rigid paper and plastic packaging serves foodservice and consumer goods markets. The segment also includes the smaller Molded Fiber business which makes fresh product packaging.
 
The first quarter report 2008 will be according to new structure. 2007 pro forma figures based on the new segment structure are:
 
Segment information is presented according to the IFRS standards. Items below Ebit - financial items and taxes - are not allocated to the segments.
 



 
 



 
1) Q4 2007 includes goodwill impairment charges MEUR 8.3.
2) Q4 2007 includes restructuring charges MEUR 1.4, goodwill impairment charges MEUR 31.6 and tangible asset impairment charges MEUR 46.0.
3) Q4 2007 includes goodwill impairment charges MEUR 5.1 and tangible asset impairment charges MEUR 11.7.
4) Q4 2007 includes restructuring charges MEUR 2.3 and goodwill impairment charges MEUR 1.6.
5) Q4 2007 includes restructuring charges MEUR 3.7, goodwill impairment charges MEUR 46.6, and tangible asset impairment charges MEUR 57.7, total amount MEUR 108.0.
 



 



 
6) 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).
 
 



 



 



 
7) Operating cash flow = Ebit + depreciation and amortization (including impairment) - capital expenditures + disposals +/- change in inventories, trade receivables and trade payables.
 
As net sales and Ebit of reportable segments forms groups' total net sales and Ebit, reconciliations to corresponding amounts are not presented.
 
For further information, please contact:
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 2007 net sales totaling EUR 2.3 billion. Consumer goods and foodservice markets are served by some 15,000 people in 66 manufacturing units and several sales offices in 36 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and is listed on the Helsinki Stock Exchange. Additional information is available at www.huhtamaki.com.
GlobeNewswire

Recommended Reading