Profit warning: Apetit revises its estimate of operational EBIT for 2019
Apetit Plc, Inside information, 16 September 2019 at 9:00 a.m.
Apetit Plc revises its estimate of operational EBIT for 2019. The company now estimates that the Group’s full-year operational EBIT will be below comparable level (EUR -1.0 million in 2018).
Delivery volumes in the Grain trade business for the end of 2019 will be lower than previously forecasted. In the case of the Oilseed products business, the market price of rapeseed expeller has fallen sharply due to the decrease in the price of soybean meal. In addition, rapeseed raw material costs have increased. As a result, the delay in the result for the first half of 2019 due to the poor harvest will not be caught up.
The revised profit guidance for 2019:
The Group’s full-year operational EBIT is expected to decrease from the previous year (EUR -1.0 million in 2018).
The previous profit guidance for 2019 (published on 20 February 2019):
The Group's full-year operational EBIT is expected to improve year-on-year (EUR -1.0 million in 2018).
For further information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Sanna Väisänen, Director, Communications, Marketing and Investor Relations, tel. +358 10 402 4041
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.