PEER GROUP: Brdr. Hartmann
“The COVID-19 pandemic is creating disturbance in Huhtamaki’s global trading conditions and the demand for food-on-the-go packaging is being significantly impacted. This has been accelerating and for this reason, the company has decided to withdraw its outlook for 2020 (published on February 13, 2020). The decline in quick service restaurant visits and overall traffic is driven by restrictions and regulations imposed by governments in order to contain the spread of the virus. It is possible that the decline in demand for food-on-the-go packaging will be partly offset by rising demand for food-on-the-shelf packaging which constitutes over 50% of the Group’s business.”
