“North America business segment had excellent improvement with good organic net sales growth and strong profitability improvement. Flexible Packaging business segment made good progress, both organically and by integrating Positive Packaging into Huhtamaki. Both segments took actions to improve their margins, and it was rewarding to see those actions succeed.
“The comparable net sales growth was 4% during the year and uneven across geographies, reflecting increasing economic uncertainty. Mostly this was visible in emerging markets, where our comparable growth was 6% compared to 10% in 2014. Growth was subdued in large markets like China and India, while our sales in constant currencies developed well in Russia, South America, Southeast Asia and in certain parts of Africa. Prices for plastic resins declined during the year and resulted in lower selling prices, which also had an impact on our comparable growth for 2015.
“2016 has begun with high volatility and uncertainty in the markets. We remain optimistic on the long-term growth opportunities in food packaging and will continue to invest in our three businesses - foodservice packaging, flexible packaging and molded fiber packaging. We will utilize our presence in growth markets to dedicate our capital allocation to the best opportunities. The growth actions will be complemented by prudent housekeeping and continued focus on improving our performance."