Comparison figures according to the new segment structure
Today, on 1 March 2016, Apetit Plc announced that it would be making changes to its business structure in order to reinforce the implementation and follow-up of the new strategy. The new business segments are Food Solutions, Oilseed Products, Grain Trade and Seafood.
As of the beginning of 2016 the associated company Sucros (holding 20%) will be reported after operating profit in the income statement and group administration expenses are allocated evenly to the operating segments.
The tables enclosed present comparison figures for the segments according to the new reporting structure by quarters for 2014 and 2015. The data are unaudited. The new segment structure will be adopted as of the first quarter 2016 reporting.
Eero Kinnunen
CFO
Additional information:
Eero Kinnunen, CFO, tel. +358 10 402 00
Copies to:
Nasdaq Helsinki
Main media
www.apetitgroup.fi
Tables: Net Sales, Operational EBIT and Operating Profit and other key figures according to the new segment structure in 2014 and 2015.
Due to the forthcoming amendments to the regulations of the European Securities and Markets Authority (ESMA), Apetit will replace the key figure “operating profit excluding non-recurring items” with the key figure “operational EBIT” as of 2016. The operational EBIT does not include restructuring expenses, any significant impairment on goodwill or other balance sheet items or reversal of impairment, the profit of the associated company Sucros or other extraordinary and material items.
| | 2014 | 2015 | |||||||||
| Net Sales | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Food Solutions | 24.6 | 23.2 | 21.1 | 25.4 | 94.2 | 23.9 | 23.8 | 22.8 | 25.4 | 95.8 | |
| Grain Trade | 37.2 | 42.9 | 25.7 | 65.7 | 171.6 | 37.9 | 45.2 | 28.3 | 59.0 | 170.5 | |
| Oilseed Products | 15.5 | 16.1 | 16.8 | 15.0 | 63.4 | 16.0 | 15.5 | 14.8 | 15.0 | 61.3 | |
| Seafood | 20.1 | 23.1 | 21.8 | 24.5 | 89.4 | 20.8 | 20.5 | 20.4 | 21.2 | 82.9 | |
| Intra-group sales | -8.5 | -7.2 | -8.5 | -9.8 | -34.0 | -7.2 | -4.7 | -11.0 | -6.7 | -29.6 | |
| Total | 88.9 | 98.1 | 77.0 | 120.8 | 384.7 | 91.5 | 100.2 | 75.3 | 113.8 | 380.8 | |
| 2014 | 2015 | ||||||||||
| Operational EBIT | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Food Solutions | -0.5 | -0.3 | 1.5 | 2.4 | 3.1 | -0.9 | -1.3 | 0.3 | 1.8 | -0.1 | |
| Grain Trade | 0.5 | 0.4 | 0.9 | 1.1 | 2.9 | 0.5 | 1.4 | 0.7 | 1.2 | 3.8 | |
| Oilseed Products | 1.4 | 0.3 | 0.8 | 0.9 | 3.5 | 0.7 | 0.8 | 0.9 | 0.3 | 2.7 | |
| Seafood | -1.4 | -0.3 | -1.6 | -0.7 | -4.0 | -1.8 | -1.2 | -0.1 | -0.6 | -3.8 | |
| Total | -0.1 | 0.2 | 1.6 | 3.8 | 5.5 | -1.6 | -0.3 | 1.8 | 2.7 | 2.6 | |
| 2014 | 2015 | ||||||||||
| Operating Profit | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Food Solutions | -0.6 | -0.3 | -3.0 | 2.4 | -1.5 | -0.9 | -1.3 | 0.3 | 1.8 | -0.1 | |
| Grain Trade | 0.3 | 0.4 | 0.2 | 1.1 | 2.1 | 0.5 | 1.4 | 0.7 | 1.2 | 3.8 | |
| Oilseed Products | 1.3 | 0.3 | 0.2 | 0.9 | 2.8 | 0.7 | 0.8 | 0.9 | 0.3 | 2.7 | |
| Seafood | -1.5 | -0.3 | -8.6 | -0.7 | -11.1 | -1.8 | -0.5 | -4.5 | -0.6 | -7.4 | |
| Total | -0.5 | 0.1 | -11.1 | 3.8 | -7.7 | -1.6 | 0.4 | -2.5 | 2.7 | -1.0 | |
| 2014 | 2015 | ||||||||||
| Gross Investments | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Food Solutions | 0.1 | 0.6 | 0.3 | 0.4 | 1.5 | 1.0 | 1.3 | 1.0 | 1.1 | 4.3 | |
| Grain Trade | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.5 | 1.0 | 0.5 | 0.2 | 2.2 | |
| Oilseed Products | 0.1 | 0.1 | 0.1 | 0.2 | 0.5 | 0.1 | 0.3 | 0.2 | 0.5 | 1.0 | |
| Seafood | 0.1 | 0.1 | 0.1 | 0.2 | 0.5 | 0.3 | 0.4 | 0.5 | 0.4 | 1.6 | |
| Total | 0.3 | 0.8 | 0.5 | 0.9 | 2.5 | 1.9 | 2.9 | 2.2 | 2.1 | 9.1 | |
| 2014 | 2015 | ||||||||||
| Corporate acquisitions and other share purchases | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Total | 0.0 | 0.0 | 0.1 | 0.0 | 0.1 | ||||||
| 2014 | 2015 | ||||||||||
| Depreciations | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Food Solutions | -1.1 | -1.1 | -1.0 | -0.8 | -4.0 | -0.8 | -0.9 | -0.9 | -0.9 | -3.5 | |
| Grain Trade | -0.1 | 0.0 | 0.0 | 0.0 | -0.2 | 0.0 | 0.0 | -0.1 | -0.1 | -0.2 | |
| Oilseed Products | -0.2 | -0.2 | -0.2 | -0.2 | -0.6 | -0.2 | -0.2 | -0.2 | -0.2 | -0.7 | |
| Seafood | -0.4 | -0.4 | -0.4 | -0.3 | -1.5 | -0.4 | -0.4 | -0.4 | -0.5 | -1.8 | |
| Total | -1.8 | -1.7 | -1.6 | -1.4 | -6.4 | -1.4 | -1.5 | -1.5 | -1.7 | -6.1 | |
| 2014 | 2015 | ||||||||||
| Impairments | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Food Solutions | -3.9 | 0.0 | -3.9 | -0.2 | -0.2 | ||||||
| Grain Trade | |||||||||||
| Oilseed Products | |||||||||||
| Seafood | 0.0 | -6.6 | -6.5 | ||||||||
| Total | 0.0 | -10.4 | 0.0 | -10.4 | -0.2 | -0.2 | |||||
| 2014 | 2015 | ||||||||||
| Share of profits of associated companies in Operating Profit | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Food Solutions | |||||||||||
| Grain Trade | |||||||||||
| Oilseed Products | |||||||||||
| Seafood | -0.1 | 0.4 | -0.2 | 0.2 | 0.3 | -0.3 | 0.3 | 0.4 | 0.4 | ||
| Total | -0.1 | 0.4 | -0.2 | 0.2 | 0.3 | -0.3 | 0.3 | 0.4 | 0.4 | ||
| 2014 | 2015 | ||||||||||
| Personnel, in average | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | Q1 | Q2 | Q3 | Q4 | Q1-Q4 | |
| Food Solutions | 441 | 420 | 421 | 422 | 426 | 405 | 438 | 456 | 438 | 434 | |
| Grain Trade | 47 | 47 | 52 | 48 | 49 | 50 | 51 | 57 | 54 | 53 | |
| Oilseed Products | 39 | 41 | 39 | 38 | 39 | 39 | 41 | 42 | 39 | 40 | |
| Seafood | 219 | 209 | 204 | 204 | 209 | 202 | 200 | 198 | 193 | 198 | |
| Total | 746 | 717 | 716 | 713 | 723 | 695 | 730 | 753 | 724 | 725 |