Apetit Group’s updated comparison data
Apetit Plc, Stock Exchange Release 16.8.2019 at 8.25 a.m.
On 10 July 2019, Apetit announced that it has agreed to sell its fresh cut products business, part of the Food Solutions segment to the Swedish company Greenfood AB. The transaction is expected to be completed in the second half of 2019. To be completed, the transaction requires the approval of the competition authorities.
As a result of the agreement, Apetit reports the sold business operations as a discontinued operation. In addition to Fresh Cut Foods, discontinued operations include the Seafood segment. The Seafood segment is included for 2018, the comparison year, and its impact is limited to financial items.
The updated comparison data on continuing and discontinued operations for 2018 and the first quarter of 2019 are presented in the tables below. Updated comparison data by segment are presented for both half-years of 2018. The data are unaudited.
| NET SALES | ||||||
| EUR million | Q1/2018 | Q2/2018 | Q3/2018 | Q4/2018 | 2018 | Q1/2019 |
| Continuing operations | 57.3 | 72.1 | 77.8 | 71.2 | 278.3 | 71.1 |
| Intra-group net sales | -3.6 | -5.4 | -7.0 | -2.5 | -18.4 | -0.1 |
| Total | 53.7 | 66.7 | 70.7 | 68.7 | 259.9 | 71.0 |
| Discontinued operations | 6.0 | 6.1 | 5.8 | 5.4 | 23.2 | 5.4 |
| Group Total | 59.7 | 72.8 | 76.6 | 74.0 | 283.1 | 76.4 |
| OPERATIONAL EBITDA | ||||||
| EUR million | Q1/2018 | Q2/2018 | Q3/2018 | Q4/2018 | 2018 | Q1/2019 |
| Continuing operations | 0.9 | 1.1 | 2.0 | 1.6 | 5.6 | 2.0 |
| Discontinued operations | -0.3 | -0.2 | 0.0 | -0.3 | -0.8 | -0.2 |
| Group Total | 0.6 | 0.9 | 2.0 | 1.3 | 4.8 | 1.8 |
| OPERATIONAL EBIT | ||||||
| EUR million | Q1/2018 | Q2/2018 | Q3/2018 | Q4/2018 | 2018 | Q1/2019 |
| Continuing operations | -0.1 | 0.1 | 1.1 | 0.6 | 1.6 | 0.8 |
| Discontinued operations | -0.7 | -0.7 | -0.5 | -0.8 | -2.6 | -0.5 |
| Group Total | -0.8 | -0.6 | 0.6 | -0.2 | -1.0 | 0.3 |
| OPERATING PROFIT | ||||||
| EUR million | Q1/2018 | Q2/2018 | Q3/2018 | Q4/2018 | 2018 | Q1/2019 |
| Continuing operations | -0.7 | -2.0 | 2.0 | 1.2 | 0.5 | 0.0 |
| Discontinued operations | -0.7 | -0.7 | -0.5 | -5.5 | -7.4 | -0.5 |
| Group Total | -1.4 | -2.7 | 1.5 | -4.3 | -6.9 | -0.6 |
| INVESTMENTS | ||||||
| EUR million | Q1/2018 | Q2/2018 | Q3/2018 | Q4/2018 | 2018 | Q1/2019 |
| Continuing operations | 0.7 | 0.9 | 0.7 | 3.8 | 6.1 | 2.4 |
| Discontinued operations | 0.1 | 0.2 | 0.1 | 0.2 | 0.6 | 0.1 |
| Group Total | 0.8 | 1.1 | 0.8 | 4.1 | 6.7 | 2.5 |
| DEPRECIATIONS AND IMPAIRMENTS | ||||||
| EUR million | Q1/2018 | Q2/2018 | Q3/2018 | Q4/2018 | 2018 | Q1/2019 |
| Continuing operations | 1.0 | 1.0 | 1.0 | 1.0 | 4.0 | 1.2 |
| Discontinued operations | 0.5 | 0.5 | 0.5 | 5.2 | 6.5 | 0.3 |
| Group Total | 1.4 | 1.5 | 1.5 | 6.2 | 10.6 | 1.6 |
| UPDATED SEGMENT INFORMATION | ||||||
| NET SALES | ||||||
| EUR million | H1/2018 | H2/2018 | 2018 | |||
| Continuing operations | ||||||
| Food Solutions | 37.9 | 36.3 | 74.2 | |||
| Oilseed Products | 33.8 | 33.0 | 66.7 | |||
| Grain Trade | 57.8 | 79.6 | 137.4 | |||
| Intra-group net sales | -9.0 | -9.5 | -18.4 | |||
| Total | 120.5 | 139.4 | 259.9 | |||
| Discontinued operations | 12.0 | 11.2 | 23.2 | |||
| Group Total | 132.5 | 150.6 | 283.1 | |||
| OPERATIONAL EBIT | ||||||
| EUR million | H1/2018 | H2/2018 | 2018 | |||
| Continuing operations | ||||||
| Food Solutions | 0.0 | 2.4 | 2.3 | |||
| Oilseed Products | 1.0 | 1.2 | 2.2 | |||
| Grain Trade | -0.9 | -2.0 | -2.9 | |||
| Total | 0.0 | 1.6 | 1.6 | |||
| Discontinued operations | -1.4 | -1.2 | -2.6 | |||
| Group Total | -1.4 | 0.4 | -1.0 | |||
| OPERATING PROFIT | ||||||
| EUR million | H1/2018 | H2/2018 | 2018 | |||
| Continuing operations | ||||||
| Food Solutions | -1.4 | 3.9 | 2.5 | |||
| Oilseed Products | 1.0 | 1.3 | 2.2 | |||
| Grain Trade | -2.2 | -2.0 | -4.2 | |||
| Total | -2.7 | 3.2 | 0.5 | |||
| Discontinued operations | -1.4 | -6.0 | -7.4 | |||
| Group Total | -4.1 | -2.8 | -6.9 | |||
| INVESTMENTS | ||||||
| EUR million | H1/2018 | H2/2018 | 2018 | |||
| Continuing operations | ||||||
| Food Solutions | 1.2 | 3.8 | 5.0 | |||
| Oilseed Products | 0.4 | 0.6 | 1.0 | |||
| Grain Trade | 0.1 | 0.1 | 0.1 | |||
| Total | 1.6 | 4.5 | 6.1 | |||
| Discontinued operations | 0.2 | 0.4 | 0.6 | |||
| Group Total | 1.8 | 4.9 | 6.7 | |||
| DEPRECIATIONS AND IMPAIRMENTS | ||||||
| EUR million | H1/2018 | H2/2018 | 2018 | |||
| Continuing operations | ||||||
| Food Solutions | 1.4 | 1.4 | 2.8 | |||
| Oilseed Products | 0.4 | 0.4 | 0.9 | |||
| Grain Trade | 0.2 | 0.2 | 0.4 | |||
| Total | 2.0 | 2.0 | 4.0 | |||
| Discontinued operations | 0.9 | 5.6 | 6.5 | |||
| Group Total | 2.9 | 7.7 | 10.6 | |||
| PERSONNEL | ||||||
| Average FTE | H1/2018 | H2/2018 | 2018 | |||
| Continuing operations | ||||||
| Food Solutions | 337 | 348 | 348 | |||
| Oilseed Products | 47 | 47 | 47 | |||
| Grain Trade | 62 | 62 | 62 | |||
| Total | 446 | 457 | 457 | |||
| Discontinued operations | 117 | 107 | 107 | |||
| Group Total | 563 | 564 | 564 |
Apetit Plc
For further information, please contact:
Tero Heikkinen, CFO, tel. +358 10 402 2310
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 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.