Ilja Orre
Good morning, everyone, and welcome to Huhtamaki Quarter Three Results Presentation. My name is Ilja Orre. I’m the VP of Investor Relations. Today’s presentation will be a management discussion followed by a Q&A session. With that, I will hand it over to our President and CEO, Ralf Wunderlich.
Ralf Wunderlich
President, CEO & Chair
Thank you, Ilja. And look, great to have you on board with us. For those who don’t know Ilja yet, Ilja is with Huhtamaki 5 years now, Ilja, started in strategy, then went to North America and worked in our business segment in North America, first also in strategy and then followed in a business role there. So again, great to have you. Welcome, Ilja.
From a quarter 3 perspective, I’d like to report that we are very pleased with another quarter of comparable net sales growth at 4% in the quarter, and that’s in a very soft demand environment. We also delivered a very strong EBIT with a 10.9% margin. That’s supported by solid performance in Flexible Packaging and Fiber Packaging. Additionally, the quarter was impacted positively by EUR 23 million revenue recognition from a commercial contract, which was concluded in foodservice packaging in our smooth molded fiber operations. North America and Foodservice Packaging were negatively impacted by weak demand, operational challenges and inflation-driven cost increases. However, we have taken actions to address those issues to support our profitable growth agenda.
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