Net sales remained essentially unchanged at EUR 1.009 billion, while reported EBIT rose to EUR 74.2 million from EUR 46.2 million a year earlier.
The global packaging manufacturer said operational improvements and cost-saving initiatives helped offset higher transportation and energy costs, as well as the impact of foreign exchange movements. Adjusted EBIT edged up to EUR 103.7 million, with the adjusted EBIT margin improving slightly to 10.3%.
Flexible and Fiber Packaging drive growth
Flexible Packaging delivered the strongest quarterly performance, with net sales increasing 11% and adjusted EBIT climbing 43% year over year. Huhtamaki attributed the improvement to higher sales volumes, pricing actions to recover raw material costs and continued operational improvements at previously underperforming sites.
Fiber Packaging also maintained positive momentum. Net sales increased 7%, while adjusted EBIT rose 38%, supported by recent investments and continued demand in the egg and fruit packaging markets.
North America weighs on performance
North America remained the company's weakest-performing business during the quarter.
Net sales in the region declined 10%, while adjusted EBIT fell 26%, reflecting lower volumes and operational issues at several plants. Huhtamaki also noted that seasonal timing effects related to Easter reduced demand, with only partial support from deliveries tied to the FIFA World Cup and U.S. 250th anniversary celebrations. The company said operational improvement measures are underway to address these issues.
Foodservice Packaging continued to operate in a challenging market, particularly among regional and local customers. Nevertheless, the segment maintained stable sales and generated solid cash flow through cost-saving measures and disciplined capital spending.
First-half sales affected by currencies
For the first six months of 2026, reported net sales declined 3% to EUR 1.96 billion, largely because of adverse currency movements. On a comparable basis, however, sales increased 1%, with Fiber Packaging and Flexible Packaging offsetting weaker Foodservice Packaging results.
Adjusted EBIT for the first half slipped 2% to EUR 198.2 million, while the adjusted EBIT margin improved to 10.1%. Reported EBIT increased 13% to EUR 157.4 million, reflecting lower restructuring-related charges than in the prior year.
Outlook unchanged
Huhtamaki left its outlook for 2026 unchanged, saying it expects market conditions to remain relatively stable through the remainder of the year. The company also said its financial position provides flexibility to pursue profitable growth opportunities.
Huhtamaki is a global provider of packaging solutions for food, beverage and personal care products. The company operates in 35 countries, employs approximately 17,400 people, and reported EUR 4 billion in net sales in 2025. Huhtamäki Oyj is headquartered in Espoo, Finland, and is listed on Nasdaq Helsinki.