Apetit revises its estimate of operational EBIT for 2018
Apetit revises its estimate of operational EBIT for 2018
Apetit Plc, Stock Exchange Release, 3 August 2018 at 9:30 am
Apetit revises its estimate of operational EBIT for 2018. The company now estimates that the Group’s full-year operational EBIT will be below comparable level from continuing operations (EUR 1.3 million in 2017).
Based on the existing crop forecasts, the domestic grain crop will be significantly below the average already second season in row. According to the estimates, the crop in 2018 will be the worst in the millennium. Trading opportunities, especially exports, are expected to be essentially more limited in the second half of 2018.
The revised profit guidance for 2018:
The Group’s full-year operational EBIT will be below comparable level from continuing operations (EUR 1.3 million in 2017). Due to the seasonal nature of the Group’s operations, most of the annual profit is accrued in the second half of the year. Sales volumes and the profit outlook for 2018 are burdened by the weak harvest of 2017 as well as weak crop outlook during the year 2018.
The previous profit guidance for 2018 (published on 1 March 2018):
The Group’s full-year operational EBIT from continuing operations is expected to improve year-on-year (EUR 1.3 million in 2017). Due to the seasonal nature of the Group’s operations, most of the annual profit is accrued in the second half of the year. Sales volumes and the profit outlook for early 2018 are burdened by the weak harvest of 2017.
Apetit will publish its half-year financial report on 16 August 2018 at 8:30 am.
Apetit Plc
For further information, please contact:
Juha Vanhainen, CEO, Apetit Plc, tel. +358 10 402 2100
Sanna Väisänen, Director, Communications and Investor Relations, Apetit Plc, tel. +358 10 4024041
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. We create well-being with vegetables by offering healthy and tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and rapeseed expellers for feeding stuff, and trade grain on the international markets. Apetit seeks to lead the way in vegetable-based food solutions. Apetit Plc’s shares are listed on Nasdaq Helsinki. In 2017, the company’s net sales were EUR 312 million and it had approximately 640 employees. Read more at apetitgroup.fi.