The Group`s reported net sales were EUR 2,342 million (EUR 2,321 million). Organic net sales growth in constant currencies was 3% with all business segments, except Films, reporting growth. Organic net sales growth was strongest in the Molded Fiber business segment. In the emerging markets, organic growth in constant currencies was 8%. During the fourth quarter the Group`s reported net sales were EUR 568 million (EUR 577 million). Organic net sales growth in constant currencies was 6%. Growth accelerated also in the emerging markets where organic net sales growth in constant currencies was 14% during the fourth quarter. The Group`s net sales were negatively affected by adverse currency movements. The negative foreign currency translation impact on net sales was EUR 84 million during the reporting period and EUR 33 million during the fourth quarter.

The Group`s earnings before interest and taxes (EBIT), excluding non-recurring items (NRI), were EUR 167 million (EUR 164 million) and in the fourth quarter EUR 38 million (EUR 36 million). Including NRI of EUR -31 million and for the fourth quarter EUR -18 million, the reported EBIT was EUR 136 million and in the fourth quarter EUR 20 million. Positive earnings development continued in the Molded Fiber and Foodservice Europe-Asia-Oceania business segments. Earnings in the North America business segment were unsatisfactory despite strong net sales growth, as they were burdened by ongoing investment costs. Adverse currency impact on the Group`s EBIT was EUR 6 million during the reporting period and EUR 2 million for the fourth quarter. Earnings per share (EPS) excluding NRI were EUR 1.21 (EUR 1.19) and for the fourth quarter EUR 0.32 (EUR 0.26). Reported EPS was EUR 0.91 (EUR 1.19) and for the fourth quarter EUR 0.14 (EUR 0.26).

The Group`s free cash flow was EUR 56 million (EUR 103 million) and for the fourth quarter EUR 18 million (EUR 46 million). Return on investment (ROI), excluding NRI, was 12.1% (12.6%) and return on equity (ROE), excluding NRI, was 15.8% (15.8%).

The implementation of the Group`s strategic direction which focuses on quality growth was continued during the year. In the United States premises acquired in Batavia, Ohio, were transformed into a new world class manufacturing and distribution unit. The unit commenced operations towards the end of the year. In Europe the foodservice product range was expanded with a targeted acquisition of a specialty corrugated packaging manufacturer in the UK.

Certain efficiency improving measures were taken during the year to improve the long-term competitiveness of the Group. As an outcome of these activities manufacturing units in Viul, Norway and Epping, South Africa were closed. Additionally, the strategic review of loss-making foodservice business in Italy was concluded and the business divested.

Outlook for 2014
The Group`s trading conditions are expected to remain relatively stable during 2014. The good financial position and ability to generate a positive cash flow will enable the Group to continue to address profitable growth opportunities. Capital expenditure is expected to be at the same level as in 2013. A significant part of the investments are expected to be directed to enhance growth in the emerging markets.

Dividend proposal
On December 31, 2013 Huhtamäki Oyj`s non-restricted equity was EUR 786 million (EUR 830 million). The Board of Directors will propose to the Annual General Meeting that a dividend of EUR 0.57 (EUR 0.56) per share be paid.

Annual General Meeting 2014
The Annual General Meeting of Shareholders will be held on Thursday, April 24, 2014 at 1 pm (Finnish time), at Finlandia Hall, Mannerheimintie 13e, in Helsinki, Finland.

Financial Reporting Schedule in 2014
Annual Accounts and Directors` Report for 2013 will be published during week 8 on the Company`s website at www.huhtamaki.com.

The following interim reports will be published during the year:

This is a summary of Huhtamaki`s Results January 1 - December 31, 2013. The complete report is attached to this release and is also available at the company website at www.huhtamaki.com.

For further information, please contact:
Jukka Moisio, CEO, tel. +358 10 686 7801
Thomas Geust, Director, Finance, tel. +358 686 7880

HUHTAMÄKI OYJ
Group Communications

Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2013 net sales totaling EUR 2.3 billion. Foodservice and consumer goods markets are served by approximately 14,400 people in 61 manufacturing units and several sales offices in 30 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and its share is quoted on NASDAQ OMX Helsinki Ltd. Additional information is available at www.huhtamaki.com.

Huhtamäki Oyj Results 2013

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Huhtamäki Oyj via GlobeNewswire
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