Huhtamäki Oyj

HLSE-HUH1V

Basic

Market Cap
€3,911.76M
EV
€5,269.96M
Shares Out
104.76M
Revenue
€4,125.7M
Employees
17,868

Margins

Gross
18.17%
EBITDA
12.62%
Operating
7.93%
Pre-Tax
7.27%
Net
4.68%
FCF
5.99%

Returns (5Yr Avg)

ROA
4.91%
ROTA
13.47%
ROE
12.9%
ROCE
10.22%
ROIC
7.39%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
€41.49
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
€353.6M
Net Debt
€1,267.9M
Debt/Equity
0.81
EBIT/Interest
4.16

Growth (CAGR)

Rev 3Yr
8.17%
Rev 5Yr
5.34%
Rev 10Yr
6.95%
Dil EPS 3Yr
4.68%
Dil EPS 5Yr
3.84%
Dil EPS 10Yr
6.95%
Rev Fwd 2Yr
3.35%
EBITDA Fwd 2Yr
6.63%
EPS Fwd 2Yr
8.45%
EPS LT Growth Est
10.5%

Dividends

Yield
—
Payout
56.85%
DPS
€1.05
DPS Growth 3Yr
4.5%
DPS Growth 5Yr
4.56%
DPS Growth 10Yr
6.3%
DPS Growth Fwd 2Yr
7.28%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Total Revenues						3,399	3,301.8	3,574.9	4,479	4,168.9	4,125.7
Total Revenues % Chg.						9.5%	-2.9%	8.3%	25.3%	-6.9%	-7.8%
Cost of Goods Sold, Total						2,816.2	2,715.7	2,972.1	3,746.6	3,415	3,376
Gross Profit						582.8	586.1	602.8	732.4	753.9	749.7
Selling General & Admin Expenses, Total						267.8	281.8	291.2	355.4	399.3	403.5
R&D Expenses						22	21.9	25.7	30.6	36	36.3
Other Operating Expenses						12.8	-12.7	-4.8	-12.5	-18.1	-17.1
Other Operating Expenses, Total						302.6	291	312.1	373.5	417.2	422.7
Operating Income						280.2	295.1	290.7	358.9	336.7	327
Interest Expense, Total						-18.1	-31.6	-27.3	-49.1	-75.1	-78.7
Interest And Investment Income						4.7	3	2.8	9.2	11	12.5
Net Interest Expenses						-13.4	-28.6	-24.5	-39.9	-64.1	-66.2
Income (Loss) On Equity Invest.						2	0.4	—	—	—	—
Currency Exchange Gains (Loss)						0.7	0.4	-2.2	-4.3	-11.2	-11.2
Other Non Operating Income (Expenses)						-13.1	-1.4	-4.1	-3.3	8.7	8.4
EBT, Excl. Unusual Items						256.4	265.9	259.9	311.4	270.1	258
Restructuring Charges	—	—			—	—	-47.6	-6.1	—	—	—
Merger & Related Restructuring Charges			—	—	—	—	—	—	—	—	—
Impairment of Goodwill	—	—		—	—	—	—	—	—	-15.7	-15.7
Gain (Loss) On Sale Of Investments		—	—	—	—	—	—	—	—	—	—
Gain (Loss) On Sale Of Assets						0.4	0.6	5.9	46.1	57.2	57.2
Insurance Settlements	—	—	—	—	—	—	3.2	3.9	2	0.3	0.3
Legal Settlements	—		—	—	—	—	—	—	—	—	—
Other Unusual Items	—	—	—	—	—	—	14.9	-0.7	-7.4	—	—
EBT, Incl. Unusual Items						256.8	237	262.9	352.1	311.9	299.8
Income Tax Expense						57.8	53.3	60.3	66.7	86.7	88.3
Earnings From Continuing Operations						199	183.7	202.6	285.4	225.2	211.5
Earnings Of Discontinued Operations			—	—	—	—	—	—	—	—	—
Minority Interest						-8.9	-6.9	-3.8	-9.2	-18.9	-18.4
Net Income						190.1	176.8	198.8	276.2	206.3	193.1
Net Income to Common Incl Extra Items						190.1	176.8	198.8	276.2	206.3	193.1
Net Income to Common Excl. Extra Items						190.1	176.8	198.8	276.2	206.3	193.1
Total Shares Outstanding						104.3	104.3	104.4	104.4	104.5	104.8
Weighted Avg. Shares Outstanding						104.3	104.3	104.4	104.4	104.5	104.5
Weighted Avg. Shares Outstanding Dil						104.3	104.4	104.4	104.7	104.9	105
EPS						1.8	1.7	1.9	2.6	2	1.8
EPS Diluted						1.8	1.7	1.9	2.6	2	1.8
EBITDA						412.9	452.7	435.8	534.6	522.3	520.6
Effective Tax Rate						22.5%	22.5%	22.9%	18.9%	27.8%	29.5%