Huhtamäki (HUH1V) AGM 2026 summary

Opening remarks and agenda

• Reflected on surpassing previous record performance and outlined the agenda, including a review of 2025 results, strategic updates, and a preview of Q1 2026.

• The meeting was opened by the Chair of the Board, Pekka Vauramo, and the agenda included annual accounts, strategy, performance review, and elections.

• Attorney-at-law Antti Ihamuotila was proposed as Chair of the AGM.

Financial performance review

• Net sales in 2025 were €3,960 million, with a 3% negative currency impact and volume growth in two segments.

• Adjusted EBIT margin reached a record 10.2%, with absolute EBIT affected by a €9 million adverse currency impact.

• Free cash flow increased to €311.2 million, outperforming the previous year by €100 million.

• Leverage reduced to 1.9x net debt/adj. EBITDA, considered best-in-class among industry peers.

• Fiber segment grew 8% with a 13.3% EBIT margin; Flexible Packaging and Foodservice also improved margins.

Board and executive committee updates

• The Board met 14 times with a 97% participation rate and conducted site visits in Poland and Dubai.

• Two new Board members, Suryakant Pandey and Johanna Söderström, were proposed alongside re-elections.

• The Global Executive Team saw new appointments in 2025–2026, including new presidents for Flexible Packaging, North America, Fiber Packaging, Procurement, and HR.

• Introduced the global executive team, highlighting new appointments and ongoing searches for key roles.

• Emphasized the team's expertise and global reach, with over 100 locations worldwide.