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Davy Research

Huhtamaki

Return to volume growth supports positive outlook

Oct 29 2024, 08:05 GMT
Justin Jordan
Company Report
9 page(s)

Sectors : Paper & Packaging

Companies : Huhtamaki

Ratings and price correct at time of issue.

Huhtamaki

Closing Price: 3710c
RATING 04/10/23
OUTPERFORM
PREVIOUS RATING 03/04/23

NEUTRAL

Person's Name

Justin Jordan

Analyst

DAVY VIEW

While Huhtamäki’s €102.4m Q3 2024 adjusted EBIT was in line with consensus, positively, the global food and beverage packaging group saw a return to modest (c.1%) Q3 2024 volume growth. Confident of the group’s return to Q4 2024E comparable (organic) sales growth, we reaffirm our ‘Outperform’ view.

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Oct 29 2024, 08:05 GMT