Huhtamäki Oyj (OTCPK:HOYFF) Q1 2025 Earnings Call April 24, 2025 2:00 AM ET
Company Participants
Kristian Tammela – Vice President, Investor Relations
Ralf Wunderlich – President and Chief Executive Officer
Thomas Geust – Chief Financial Officer
Conference Call Participants
Lewis Merrick – BNP Paribas
James Perry – Citi
Maria Wikstrom – SEB
Kevin Fogarty – Deutsche Bank
Victoria Adesina – Barclays
Cole Hathorn – Jefferies
Kristian Tammela
Good morning, all and welcome to Huhtamaki’s Investor Call for the First Quarter of 2025. My name is Kristian Tammela, VP of Investor Relations. Today, we have a presentation from our President and CEO, Ralf K. Wunderlich; and followed by our CFO, Thomas Geust. After that, we will have time for Q&A as always. So with further ado, handing over to Ralf.
Ralf Wunderlich
Thank you so much, Kristian, and good morning to all of you. Very happy to be here again and report on our first quarter results. We are also happy to say that we had a stable performance in a very volatile environment. The uncertainty in the environment clearly increased during the quarter. However, our financial performance was stable and at prior year’s level. We are also proud to say that our program to improve efficiency is proceeding well, and we are now at total savings of €87 million with a cost to achieve of €25 million by the end of quarter 1, hence, really tracking well. We have also taken actions in our three focus areas, which I alluded to during our last call.
Let’s turn over and look at the tariff situation for Huhtamaki. Look, overall, the situation is evolving every day and it is way too early to draw conclusions. We are well positioned to manage the situation. Our business is mostly local. And it’s local for local with both the supply side
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