Apetit lowers its estimate of operating profit excluding non-recurring items for 2015
Apetit is amending its profit guidance for 2015 and is lowering its estimate of full-year operating profit excluding non-recurring items.
NEW OUTLOOK FOR 2015
The Group’s full-year operating profit excluding non-recurring items is expected to fall short of the previous year’s level. It is anticipated that the operating profit excluding non-recurring items for the first quarter of the year will be lower than in the same quarter a year earlier.
Owing to the extremely challenging situation in the sugar market, the associated company Sucros, which is part of the Other Operations segment, is anticipated to make a loss this year.
The market conditions in the food sector in Finland are challenging. Sales in the Food Business failed to reach the target level early this year, and the estimated performance of the business segment in the short term has been lowered. However, the long-term profitability programmes under way in the Food Business have progressed as planned. The impact of these programmes on the operating profit is expected to be felt in stages during the year as the measures are implemented.
In the Grains and Oilseeds Business, no major change is expected in the prospects for profitability in 2015 compared with the previous year.
Due to the substantial effect of international grain market price fluctuations on the entire Group’s net sales, Apetit will not issue any estimates of the expected full-year net sales.
PREVIOUS OUTLOOK FOR 2015
The Group’s full-year operating profit excluding non-recurring items is expected to improve from the previous year’s level. However, it is anticipated that the operating profit excluding non-recurring items for the first quarter of the year will be lower than in the same quarter a year earlier.
The market conditions in the food sector in Finland are challenging. The aim of the long-term profitability programmes in the Food Business is to improve profitability and competitiveness. The impact of these programmes on the operating profit is expected to be felt in stages during the year as the measures are implemented.
In the Grains and Oilseeds Business, no major change is expected in the prospects for profitability in 2015 compared with the previous year. In the Other Operations segment, lower market prices for sugar are expected to weaken the result for the associated company Sucros.
Due to the substantial effect of international grain market price fluctuations on the entire Group’s net sales, Apetit will not issue any estimates of the expected full-year net sales.
Apetit will publish its January-March Interim Report on 5 May 2015 at 8.30 am.
APETIT PLC
Juha Vanhainen
CEO
For more information:
Eero Kinnunen, CFO, +358 10 402 00
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www.apetitgroup.fi