Huhtamäki Oyj Interim Report January 1-September 30, 2002

Huhtamäki Oyj Interim Report January 1 - September 30, 2002 Against the backdrop of a deteriorating world economy, consumer packaging specialist Huhtamaki reports steady sales volume and continued profit improvement in January-September 2002. In the third quarter, volume growth resumed in Europe and continued in Asia-Oceania-Africa. However, weak demand in North America, company disposals during 2001 and currency translations led to a 7% decline in the reported sales figure for the quarter. Group EBITA margin improved by 0.7 percentage points to 9.9% during the quarter and by 0.9 percentage points to 10.1% in January-September. Helped by a lower number of shares in issue, earnings per share (before amortization) for the quarter increased by 18%, while the corresponding nine-month figure improved by 30%, to EUR 1.04. Key Figures Q3 Change Q1-Q3 Change EUR million % % Net sales 547 - 7 1,712 - 5 EBITA 54 - 172 + 4 EBITA margin, % 9.9 - 10.1 - Profit before taxes 32 +1 106 + 10 Net income 21 - 3 72 + 10 EPS*, EUR 0.32 + 18 1.04 + 30 ROI*, % - - 13.2 + 23 *before amortization of goodwill and other intangible assets A challenging short-term outlook in North America is likely to dampen profit generation in the final quarter, whereby an improvement in the full-year earnings per share will remain less pronounced than during the first part of the year. Having largely achieved its immediate structural and financial targets, Huhtamaki now focuses on accelerating sales growth as a top priority for 2003. Espoo, Finland, October 24, 2002 Huhtamäki Oyj Board of Directors Inquiries: Mr. Markku Pietinen, Group VP IR & Communications Tel. +358 9 6868 8361 HUHTAMÄKI OYJ Markku Pietinen Juha Salonen Group VP IR & Communications Group General Counsel ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/24/20021024BIT00200/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/24/20021024BIT00200/wkr0002.pdf