In-line report enough to lift Huhtamaki shares after recent declines

Huhtamaki Oyj

24/10/2024 10:51

** Shares in Huhtamaki  HUH1V.HE  rise 7% after the food
packaging company reported Q3 results broadly in line with
estimates
        ** Q3 adjusted EBIT was EUR 102.4 million ($110.6
million), slightly below forecast of EUR 102.7 million
    ** "We think the overall picture is good enough to meet
expectations," Antti Viljakainen of Inderes said in a quick
comment post Huhtamaki's report
        ** Viljakainen notes Huhtamaki's volumes rose slightly,
albeit from low comparables, while prices fell as expected but
slightly more than Inderes had forecast, in line with raw
material prices
   ** "Huhtamäki reiterated the outlook for the current year,
stating that the company's business conditions are expected to
improve this year compared to last year," Viljakainen says
    ** Huhtamaki shares are among top gainers on STOXX 600
 .STOXX  index, and are on track for their best day since Feb. 8
if the gains hold
    ** The stock has been under pressure in recent months,
falling nearly 10% from its July highs as of Wednesday's close

($1 = 0.9261 euros)

 (Reporting by Tomasz Kanik)
 ((Tomasz.Kanik@thomsonreuters.com))