Huhtamäki Oyj (HMKIY) Discusses Updated Climate Targets and Progress on Sustainability Performance Prepared Remarks Transcript

Kristian Tammela
Vice President of Investor Relations

Good afternoon, everyone. Welcome to Huhtamäki’s Annual Sustainability Results Call. My name is Kristian Tammela, VP of Investor Relations. With me, I have Rahul Nene, our Head of Sustainability Center of Expertise. He will first present today our sustainability performance in 2025 and then talk and present more in detail the strategy and next steps for us. After that, we have time for Q&A.

And with that, I’m handing over to Rahul.

Rahul Nene

Thank you, Kristian, and hello to everyone who is dialing in. As shared by Kristian, I’m Rahul, and I head the Center of Expertise for Sustainability at a group level for Huhtamäki. And I would like to begin today’s call by going through a few highlights on our 2025 sustainability performance. As you can see, across various pillars of sustainability, we have seen good progress happening. And I would like to first emphasize on something that I’m personally excited by, which is our updated climate targets.

In 2025, we updated our climate targets on Scope 1 and 2 short term to be aligned with the 1.5-degree trajectory on Scope 1 and 2. What this means is that we are becoming more ambitious on our GHG reduction targets in absolute terms. While we did this on Scope 1 and 2, we also updated our targets on Scope 3 and I’ll talk about this a bit more as we go through the presentation.

While this is more in terms of the targets, the actual performance, we increased also renewable electricity to 60.6% at a group level which also impacted a reduction in terms