Apetit Plc corrects information presented in public
Apetit Plc, Stock Exchange Release, 11 June 2019 at 2:00 p.m.
Apetit Plc corrects inaccurate information about the company's financial position and equity presented in public in the last few days.
The company's financial position is very strong. Depending on grain trade stocks, the company's equity ratio has been at a level of 60-70% for a long time. In addition, the Group's net gearing was negative at the end of 2017, and at the end of 2018 it was slightly positive due to high grain stocks.
The company's equity has declined by some EUR 40 million over the past five years. More than half consists of dividends paid to shareholders based on the company's strong financial position and the rest mainly from write-downs and sales losses recorded in the Seafood business that was sold in 2017. Apetit's operational EBIT during the years 2014-2018 has been approximately EUR 9 million positive in total.
For more information, please contact:
Juha Vanhainen, CEO, tel. +358 10 402 00
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 www.apetit.fi.