Huhtamaki announces 2011 pro forma figures following its rigid plastic business in Italy being integrated into Foodservice Europe-Asia-Oceania segment, which sees net sales positively affected by €42M
March 30, 2012
– As announced earlier, the rigid plastic business in Italy, reported in Other activities in 2011, was integrated into the Foodservice Europe-Asia-Oceania segment as of January 1, 2012. In addition, certain changes in sales responsibilities and reporting have been implemented between the Foodservice Europe-Asia-Oceania and the Molded Fiber segments. The Group's financial reporting as of the Interim Report for January 1 - March 31, 2012 will be in line with these changes.
The net sales in 2011 attributable to the rigid plastic business in Italy were approximately EUR 50 million. In total, including the changes between Foodservice Europe-Asia-Oceania and Molded Fiber segments, the impact of these changes on Foodservice Europe-Asia-Oceania segment's net sales in 2011 is positive by approximately EUR 42 million. The impact on Other activities' net sales in 2011 is negative by approximately EUR 50 million. As of January 1, 2012 Other activities do not include packaging operations.
Impact of the changes in the aforementioned segments' earnings before interest and taxes (EBIT) is not significant.
Quarterly segment information for 2011 for Foodservice Europe-Asia-Oceania and Molded Fiber segments as well as Other activities has been restated accordingly. Detailed figures are presented in the tables attached to this release.
Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2011 net sales totaling EUR 2 billion. Foodservice and consumer goods markets are served by approximately 12,700 people in 59 manufacturing units and several sales offices in 31 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and its share is quoted on the NASDAQ OMX Helsinki Ltd. Additional information is available at www.huhtamaki.com.