Apetit to update operational indicators

Apetit Plc, Stock Exchange Release, 8 May 2019 at 8:25 a.m.

Apetit Plc is updating its operational indicators and in the future the company will present operational indicators without the IAS-2 Inventories -standard capitalisation of fixed costs at inventory value. Due to harvest-time production, the IAS-2 accounting practice means that most of the profit is accrued in the last two quarters of the year, which weakens the result for the first two quarters and causes seasonal variation. As a result of this change, the information made available to investors will also better match the information used by company management to monitor and guide operations. 

Updated comparison data for operational key figures are presented in the tables below.

2018 2018 2018 2018 2018
Apetit Group Q1 Q2 Q3 Q4 Q1-Q4
Previous Operational EBIT -1.4 -1.4 1.7 0.6 -0.5
Includes IAS-2 effect -0.6 -0.8 1.1 0.8 0.5
Updated Operational EBIT -0.8 -0.6 0.6 -0.2 -1.0
2018 2018 2018
Food Solutions Q1-Q2 Q3-Q4 Q1-Q4
Previous Operational EBIT -2.8 2.7 -0.1
Includes IAS-2 effect -1.4 1.5 0.1
Updated Operational EBIT -1.5 1.2 -0.3
2018 2018 2018
Oilseed Products Q1-Q2 Q3-Q4 Q1-Q4
Previous Operational EBIT 1.0 1.3 2.2
Includes IAS-2 effect 0.0 0.1 0.0
Updated Operational EBIT 1,0 1,2 2,2
2018 2018 2018
Grain Trade Q1-Q2 Q3-Q4 Q1-Q4
Previous Operational EBIT -0.9 -1.7 -2.6
Includes IAS-2 effect 0.0 0.3 0.3
Updated Operational EBIT -0.9 -2.0 -2.9
2018 2018 2018 2018 2018
Apetit Group Q1 Q2 Q3 Q4 Q1-Q4
Previous Operational EBITDA 0.0 0.1 3.1 2.0 5.3
Includes IAS-2 effect -0.6 -0.8 1.1 0.8 0.5
Updated Operational EBITDA 0.6 0.9 2.0 1.3 4.8
2018 2018 2018 2018
Apetit Group Q1 Q2 Q3 Q4
Previous Return on capital employed (ROCE), % 2.5 0.9 0.5 -1.2
Updated Return on capital employed (ROCE), % 2.3 0.6 0.0 -1.7

In order to illustrate the financial performance of its business operations and improve comparability between periods, Apetit presents operative indicators on the performance of its operations and financial situation in accordance with the “Alternative Indicators” instructions issued by the European Securities and Markets Authority ESMA. These indicators must not be considered replacements for the indicators specified in the IFRS financial statements standards. The formulas for calculating the alternative indicators are presented in the annual report under Calculation of Key Indicators.

Apetit Plc

For further information, please contact:

CFO Tero Heikkinen, 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.

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