Huhtamäki Oyj’s Results January 1–December 31, 2025: Solid performance despite adverse currency impacts

Q4 2025 in brief

Net sales decreased 7% to EUR 980.5 million (EUR 1,058.7 million)

Comparable net sales growth at Group level was -2%

Reported EBIT was EUR 89.0 million (EUR 95.0 million); adjusted EBIT was EUR 103.2 million (EUR 110.3 million) including an adverse currency impact of EUR 4.3 million

Reported EPS was EUR 0.53 (EUR 0.61); adjusted EPS was EUR 0.65 (EUR 0.68)

The impact of currency movements on the Group’s net sales was EUR -58.9 million and EUR -4.3 million on EBIT

Q1-Q4 2025 in brief

Net sales decreased 4% to EUR 3,960.2 million (EUR 4,126.3 million)

Comparable net sales growth at Group level was -1%

Reported EBIT was EUR 320.5 million (EUR 372.3 million); adjusted EBIT was EUR 405.1 million (EUR 416.9 million) including an adverse currency impact of EUR 9.0 million

Reported EPS was EUR 1.83 (EUR 2.14); adjusted EPS was EUR 2.48 (EUR 2.48)

The impact of currency movements on the Group’s net sales was EUR -125.1 million and EUR -9.0 million on EBIT

Capital expenditure was EUR 171.9 million (EUR 247.9 million)

Free cash flow was EUR 311.2 million (EUR 215.8 million)

The Board of Directors proposes a dividend of EUR 1.14 (1.10) per share

Key figures

EUR million	Q4 2025	Q4 2024	Change	2025	2024	Change
Net sales	980.5	1,058.7	-7%	3,960.2	4,126.3	-4%
Comparable net sales growth	-2%	3%		-1%	0%
Adjusted EBITDA1	154.7	163.7	-5%	613.0	622.2	-1%
Margin1	15.8%	15.5%		15.5%	15.1%
EBITDA	142.3	151.4	-6%	613.3	595.6	3%
Adjusted EBIT2	103.2	110.3	-6%	405.1	416.9	-3%
Margin2	10.5%	10.4%		10.2%	10.1%
EBIT	89.0	95.0	-6%	320.5	372.3	-14%
Adjusted EPS, EUR3	0.65	0.68	-4%	2.48	2.48	0%
EPS, EUR	0.53	0.61	-13%	1.83	2.14	-15%
Adjusted ROI2				11.8%	12.1%
Adjusted ROE3				13.6%	13.4%
ROI				9.5%	10.8%
ROE				10.1%	11.6%
Capital expenditure	62.2	113.8	-45%	171.9	247.9	-31%
Free Cash Flow	174.4	55.6	>100%	311.2	215.8	44%
1Excluding IAC of	-12.4	-12.2		0.4	-26.5
2Excluding IAC of	-14.2	-15.3		-84.5	-44.7
3Excluding IAC of	-12.6	-7.1		-68.0	-35.1

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