ATRIA'S IFRS COMPARISON DATA FOR 2004
Atria Group Plc STOCK EXCHANGE ANNOUNCEMENT 19.04.2005 at 13:00
ATRIA'S IFRS COMPARISON DATA FOR 2004
Atria Group plc has adopted the International Financial Reporting Standards
(IFRS) as of 1 January 2005. Prior to adopting the IFRS practice, Atria Group
plcs financial statements were based on the Finnish standards, FAS.
In the present publication, Atria Group plc publishes its IFRS-compliant
financial statements, and the comparison data for the interim annual reviews
and opening balance sheet for 2004. The comparison data published have been get
through by auditors. Atria Group plc publishes the comparative financial
statements data for 2004 in compliance with IFRS in order to demonstrate the
material impacts on the financial statements resulting from adopting the new
practice.
Atria Group
The main changes in the principles applied in drawing up the documents and
their impacts on the presented figures
The presentation of the financial data for the year 2004, as required by IFRS,
was drawn up in accordance with the provisions in effect on 31.3.2005 and this
is why the IFRS-based financial data presented in the summary may need to be
adjusted before including it as the comparison periods data in the first
consolidated IFRS-based financial statements for the Group for the year ending
on 31.12.2005. This is due to the on-going changes in IFRS practice, which may
impact on the financial statements of those companies, where IFRS applied as of
the beginning of 2005.
Tangible fixed assets
Financial leasing agreements
When the financial statements were drawn up applying Finnish standards, rental
agreements were treated like other rental agreements. On adopting IFRS
reporting, several rental agreements have been treated as financial leasing
agreements. Assets acquired through financial leasing have been capitalised
with tangible fixed assets. These asset items are subject to depreciation as
per depreciation plans pertaining to tangible fixed assets during the period of
economic effect of the assets. Similarly, the obligations ensuing from the
agreements are entered among interest-bearing debts. Financial leasing
augmented tangible fixed assets and interest-bearing debts on 1 Jan 2004 by EUR
2.3 million and on 31 Dec 2004 by EUR 5.8 million.
Merging of business activities
The Group has applied the IFRS 3 standard to all mergers of business activities
that have occurred since 28.9.2003. IFRS 3 requires that the fixed assets and
debts of an acquired company be valued as per the current value at the time of
acquisition. As a consequence, the balance sheet value of tangible fixed assets
as at 1 Jan 2004 increased by EUR 1.4 million.
Goodwill on consolidation
In compliance with the Finnish standards regarding financial statements, the
value of consolidated assets, property and debts have been determined as the
difference between acquisition costs and the subsidiary's equity at the time of
acquisition, and it will be registered to those of the subsidiary's asset
items, which are deemed to have produced the difference. In IFRS-compliant
reporting, the assets and liabilities of the acquired company have been valued
using the market value at the time of acquisition, which generally means that
the share of goodwill is reduced. Goodwill on consolidation is not subject to
regular depreciation; instead of depreciation, a value-adjustment test is
conducted.
Atria Group adopted the IFRS 3 standard on 28.9.2003 to be applied to business
mergers. Consequently, the depreciation on goodwill on consolidation
implemented under FAS since 28.9.2003 is returned to consolidated goodwill.
In addition, items included under FAS in consolidated goodwill are deemed to be
intangible assets in the IFRS-compliant balance sheet.
In compliance with the requirement imposed by IFRS 1, goodwill as a whole has
been tested at the time of transfer from one standard to the other as a
safeguard against value adjustment.
Other intangible assets
Application of IFRS 3 augmented the amount of intangible assets in the opening
balance sheet by EUR 2.2 million.
Inventories
The financial statements on 31.12.2003 show inventories valued in accordance
with IFRS.
Equity and minority share
The adjoining table shows a summary of the impacts that adopting IFRS has had
on the accrued consolidated earnings.
EUR mill. 1.1.2004 31.12.2004
Accrued profits FAS 84.3 100.4
IAS 12 Income taxes
Due to pension liabilities 2.5 0.1
IAS 19 Employment-based benefits
Pension liabilities -8.6 -0.4
IFRS 3 Enterprise consortia 0.9 3.8
Accrued profits IFRS 79.1 103.9
In compliance with IAS 1, the minority share of the equity has been presented
as an item of its own in equity, whereas the Finnish standards on financial
statements require it to be presented separately from the equity belonging to
the parent companys shareholders.
Translation differences
Translation differences due to foreign units, and which have come into effect
prior to the date when IFRS was adopted, are not presented as a separate equity
item. This does not affect the Group's net assets or earnings.
Expenses caused by pension obligations and employment-based benefits
The disablement part of pension benefits of the Finnish TEL (Employment
Pension) contribution arranged through insurance companies has been treated as
a benefit-based pension arrangement.
A debt of EUR 8.6 million from the benefit-based pension arrangements has been
booked in the opening balance sheet; this debt has come into being as the
difference between the pension obligations' current value and the market value
of the funds consumed by the arrangements. In compliance with the option
permitted by IFRS 1, the cumulative actuarial profits and losses of the benefit-
based pension arrangements have been booked in the accrued profit funds on the
date of adopting IFRS.
The pension expense booked in the profit and loss account for the financial
year 2004 has diminished by EUR 8.1 million as a consequence of the Group
structure and the change in the principles applied to the drawing up of benefit-
based pension arrangements.
The calculatory tax receivables resulting from the pension obligations on
1.1.2004 amounted to EUR 2.5 million and on 31.12.2004 they amounted to EUR 0.1
million.
Interest-bearing debts and other debts
In accordance with IFRS reporting, the asset items acquired via financial
leasing agreement have been capitalised into the balance sheet, and accordingly
they augment long-term interest-bearing debts on 1 Jan 2004 by EUR 2.3 million
and on 31 Dec 2004 by EUR 5.8 million.
Calculatory tax receivables and liabilities and income taxes
The changes in the drawing up of the documents on adopting IFRS principles
augmented calculatory tax receivables on 1.1.2004 by EUR 2.5 million and
calculatory tax liabilities by EUR 0.5 million. The changes are caused by the
benefit-based pension arrangements booked into the opening balance sheet and by
the registering of the acquisition cost to intangible and tangible assets in
the event of business mergers.
Depreciation
The fact that IFRS 3 has been applied to the merging of businesses has caused
the balance sheet values of both tangible and intangible assets to increase and
thereby also depreciation to increase. In addition, when compared to the
Finnish practice of drawing up financial statements, depreciation increased as
a result of fixed assets acquired via financial leasing agreements and
capitalised into the balance sheet.
IFRS 3 states that depreciation of goodwill on consolidation is not to be
implemented regularly, rather that their possible value adjustments are tested
annually as per IAS 36.
Cancellation of the depreciation on goodwill on consolidation under FAS after
28.9.2003 adds to the profit shown in the IFRS balance sheet and improves the
earnings for the 2004 financial period.
Other operating expenses
The diminishing of 'Other operating expenses' is caused by the rental
agreements treated as financial leasing agreements. Rental expenses booked in
compliance with the Finnish practice of drawing up financial statements
amounted to EUR 0.6 million in 2004 whereas IFRS reporting deals with these
expenses as interest expenses, which are presented under financing items and as
depreciation, which diminish the corresponding asset item.
Financial expenses (net)
The change in financial expenses is caused largely by the change in the
principle of drawing up financial leasing agreements.
Share of associated companies' earnings
IFRS compliance requires that the Groups share of associated companies'
earnings be reported as a separate item after operating profit. The Finnish
financial statements practice requires that the share of associated companies'
earnings be presented before operating profit. The balance sheet value of the
associated companies as per IFRS reporting in the opening balance sheet grew by
EUR 0.5 million.
Segment reporting
Atria reports its geographical segments as its primary segment reporting. A
segments assets as per IAS 14.19 are those assets, which can be directly
allocated or which can be logically focused on the segment. These include
goodwill. Atria has two recognisable geographical segments differing
essentially from each another in terms of the functioning of the markets. They
are Finland and Sweden. In addition, Atria has operations in the Baltic
countries, but this region's share of Atrias sales, earnings and assets is
less than 10%, and consequently it does not constitute a separate segment (IAS
14.35).
A secondary segment report concerns business operation segments. Atria's
business operation mainly comprises the meat industry. In addition, Atria's
operations include a wholesale business called Svensk Snabbmat Ab, which sells
its products to restaurants, bars, snack bars, etc. The wholesale business
accounts for 15% of the turnover, which is why it is reported as a separate
segment (IAS 14.35). This segment also includes the Group's sales to primary
producers.
ATRIA GROUP
OPENING IFRS BALANCE SHEET 1-1-2004
Assets IFRS FAS
EUR million 1-1-04 1-1-04
Fixed assets
Intangible assets 14.5 12.3
Goodwill
on consolidation 34.5 35.2
Tangible assets 259.1 255.4
Calculatory tax receivables on benefit-based pension
responsibilities 2.5
Loan receivables and
other receivables 0.6 0.6
Investments 6.6 6.1
Total 317.8 309.6
Current assets
Inventories 47.9 47.9
Accounts receivable and
other receivables 89.1 89.1
Cash in hand
and at bank 9.9 9.9
Total 146.9 146.9
Assets, total 464.7 456.5
Liabilities IFRS FAS
EUR million 1-1-04 1-1-04
Equity belonging to parent companys
shareholders 219.5 224.6
Minority interests 1.6 1.6
Equity, total 221.1 226.2
Long-term borrowed capital
Interest-bearing debts 91.6 89.3
Calculatory tax debts 15.5 15.0
Pension liabilities 8.6
Total 115.7 104.3
Short-term borrowed capital
Interest-bearing debts 40.1 40.2
Accounts payable and
other debts 87.8 85.8
Total 127.9 126.0
Borrowed capital, total 243.6 230.3
Liabilities, total 464.7 456.5
BALANCING CALCULATION FOR EQUITY
EUR million 1-1-04
Equity according to FAS 226.2
Effects of adopting IFRS:
IAS 19 Employee Benefits
Accrual of benefit-based pensions -8.6
IAS 12 Income Taxes
Calculatory tax on benefit-based
pensions accrual 2.5
IFRS 3 Business Combinations
Changes in affiliated companies 0.6
Changes in Groups goodwill
depreciations 0.5
Increase in depreciations -0.1
IFRS adjustments, total -5.1
Equity according to IFRS 221.1
LIABILITIES
IFRS FAS
EUR million 1-1-04 1-1-04
Debts for which collateral has been provided
in the form of mortgages and other securities
Loans from financial
institutions 86.2 86.2
Pension fund loans 5.3 5.3
Total 91.5 91.5
Mortgages and other securities given
as comprehensive security
Real-estate mortgages 75.6 75.6
Corporate mortgages 37.9 37.9
Other collateral 42.9 42.9
Total 156.4 156.4
Contingent liabilities
not included in the balance sheet
Unused limits 76.3 76.3
Guarantees 1.4 1.4
Leasing liabilities
Next year 1.0
After more than one year 1.5
Total 2.5
Q1: 1 JANUARY - 31 MARCH 2004
ATRIA GROUP
CONSOLIDATED BALANCE SHEET
Assets IFRS FAS IFRS FAS
EUR million 31-3-04 31-3-04 31-12-04 31-12-04
Fixed assets
Intangible assets 13.8 11.6 13.8 11.8
Goodwill
on consolidation 34.5 34.4 34.6 34.1
Tangible assets 259.0 255.6 267.4 260.3
Calculatory tax receivables on benefit-based pension
responsibilities 2.5 0.1
Loan receivables and
other receivables 0.6 0.6 4.2 4.2
Investments 7.2 6.6 6.3 5.9
Total 317.6 308.8 326.4 316.3
Current assets
Inventories 48.0 48.0 48.0 48.0
Accounts receivable and
other receivables 86.2 86.2 131.6 131.6
Cash in hand
and at bank 9.1 9.1 12.6 12.6
Total 143.3 143.3 192.2 192.2
Assets, total 460.9 452.1 518.6 508.5
Liabilities IFRS FAS IFRS FAS
EUR million 31-3-04 31-3-04 31-12-04 31-12-04
Equity belonging to parent companys
shareholders 222.1 226.6 244.3 240.8
Minority interests 1.5 1.5 19.6 19.6
Equity, total 223.6 228.1 263.9 260.4
Long-term borrowed capital
Interest-bearing debts 85.3 83.3 83.2 77.5
Calculatory tax debts 15.4 14.8 21.4 20.9
Pension liabilities 8.7 0.4
Total 109.4 98.1 105.0 98.4
Short-term borrowed capital
Interest-bearing debts 41.8 41.8 32.8 32.8
Accounts payable and
other debts 86.1 84.1 116.9 116.9
Total 127.9 125.9 149.7 149.7
Borrowed capital,
total 237.3 224.0 254.7 248.1
Liabilities, total 460.9 452.1 518.6 508.5
CONSOLIDATED PROFIT AND LOSS ACCOUNT
IFRS FAS IFRS FAS
EUR million 1-3/04 % 1-3/04 % 1-12/04 % 1-12/04 %
Turnover 185.6 185.6 833.7 833.7
Share of associated
company earnings 0.1 0.5
Expenses, excl. the accrual of
benefit-based pensions -172.3 -172.4 -764.6 -765.0
Accrual of benefit-
based pensions -0.1 8.1
Depreciations (w/o Group goodwills
depreciations) -7.4 -7.3 -27.9 -27.2
Operating profit before Group goodwills
depreciations 5.8 3.1 6.0 3.2 49.3 5.9 42.0 5.0
Depreciation on Group
goodwill -0.8 -3.2
Operating profit 5.8 3.1 5.2 2.8 49.3 5.9 38.8 4.7
Share of associated
company earnings 0.1 0.5
Financial income and
expenses -1.3 -1.3 -5.2 -5.1
Profit before taxes 4.6 2.5 3.9 2.1 44.6 5.3 33.7 4.0
Taxes -1.4 -1.4 -8.5 -8.6
Calculatory taxes on benefit-based
pensions accrual -2.4
Minority interest -0.3 -0.3
Profit for the financial
year 3.2 1.7 2.5 1.3 33.4 4.0 24.8 3.0
Undiluted
earnings/share, 0.15 0.12 1.58 1.17
Earnings/share adjusted
by dilution effect, 0.15 0.12 1.58 1.17
BALANCING CALCULATION FOR PROFIT FOR THE FINANCIAL YEAR
EUR million 1-3/04 1-12/04
Profit for the financial year according to FAS 2.6 24.8
Effects of adopting IFRS:
IAS 19 Employee Benefits
Accrual of benefit-based pensions 0.1 8.1
IAS 12 Income Taxes
Calculatory tax on benefit-based
pensions accrual -2.4
IFRS 3 Business Combinations
Changes in affiliated companies -0.1
Reimbursement of Groups goodwill depreciations 0.8 3.2
Increase in depreciations -0.1 -0.2
IFRS adjustments. total 0.6 8.6
Profit for the financial year according to IFRS 3.2 33.4
BALANCING CALCULATION FOR EQUITY
EUR million 1-1-04 31-3-04 31-12-04
Equity according to FAS 226.2 228.1 260.4
Effects of adopting IFRS:
IAS 19 Employee Benefits
Accrual of benefit-based pensions -8.6 -8.7 -0.4
IAS 12 Income Taxes
Calculatory tax on benefit-based
pensions accrual 2.5 2.5 0.1
IFRS 3 Business Combinations
Changes in affiliated companies 0.6 0.6 0.4
Changes in Groups goodwill
depreciations 0.5 1.3 3.7
Increase in depreciations -0.1 -0.2 -0.3
IFRS adjustments, total -5.1 -4.5 3.5
Equity according to IFRS 221.1 223.6 263.9
CONSOLIDATED CASH FLOW CALCULATION
IFRS FAS IFRS FAS
EUR million 1-3/04 1-3/04 1-12/04 1-12/04
Cash flow
from operations 10.8 8.9 72.1 71.7
Financial items
and taxes 0.2 0.2 -13.2 -13.2
Cash flow
from operations 11.0 9.1 58.9 58.5
Investments
Investments in tangible
and intangible assets -8.1 -8.1 -33.9 -33.9
Investments 0.1 0.5
Cash flow
from investments -8.0 -8.1 -33.4 -33.9
Loans drawn down 16.3 12.8
Loans repaid -20.1 -1.8 -28.5 -14.8
Dividends paid -9.0 -9.0
Cash flow
from financing -3.8 -1.8 -24.7 -23.8
Change in liquid funds -0.8 -0.8 0.8 0.8
INDICATORS
IFRS FAS IFRS FAS
EUR million 1-3/04 1-3/04 1-12/04 1-12/04
Undiluted
earnings/share, 0.15 0.12 1.58 1.17
Earnings/share adjusted
by dilution effect, 0.15 0.12 1.58 1.17
Equity/share, 10.60 10.74 12.51 11.42
Interest-bearing debts 127.1 125.1 116.0 110.3
Equity ratio, % 48.6 50.5 50.9 51.3
Gross investments 7.8 8.1 37.3 33.8
Gross investments
/turnover, % 4.2 4.4 4.5 4.1
Personnel on average 3 435 3 435 3 638 3 638
SEGMENT-SPECIFIC DATA
GEOGRAPHICAL IFRS FAS IFRS FAS
EUR million 1-3/04 % 1-3/04 % 1-12/04 % 1-12/04 %
Turnover
Finland 119.4 64.3 119.4 64.3 525.8 63.1 525.8 63.1
Sweden 66.8 36.0 66.8 36.0 310.2 37.2 310.2 37.2
Others and eliminations -0.6 -0.3 -0.6 -0.3 -2.3 -0.3 -2.3 -0.3
Total 185.6 100.0 185.6 100.0 833.7 100.0 833.7 100.0
Operating profit
Finland 4.3 74.1 4.3 82.7 37.7 76.5 29.7 76.5
Sweden 1.6 27.6 1.0 19.2 12.1 24.5 9.4 24.2
Others and eliminations -0.1 -1.7 -0.1 -1.9 -0.5 -1.0 -0.3 -0.8
Total 5.8 100.0 5.2 100.0 49.3 100.0 38.8 100.0
Investments
Finland 5.4 69.2 5.4 66.7 28.8 77.2 27.1 80.2
Sweden 1.5 19.2 1.8 22.2 6.9 18.5 5.1 15.1
Others 0.9 11.5 0.9 11.1 1.6 4.3 1.6 4.7
Total 7.8 100.0 8.1 100.0 37.3 100.0 33.8 100.0
Funds
Finland 384.8 83.5 381.3 84.3 433.7 83.6 430.8 84.7
Sweden 129.5 28.1 126.1 27.9 137.7 26.6 130.4 25.6
Others and eliminations -53.4 -11.6 -55.3 -12.2 -52.8 -10.2 -52.7 -10.4
Total 460.9 100.0 452.1 100.0 518.6 100.0 508.5 100.0
Debts
Finland 168.7 71.1 157.9 70.5 180.2 70.7 178.0 71.7
Sweden 70.6 29.8 68.7 30.7 73.7 28.9 69.8 28.1
Others and eliminations -2.0 -0.8 -2.6 -1.2 0.8 0.3 0.3 0.1
Total 237.3 100.0 224.0 100.0 254.7 100.0 248.1 100.0
BUSINESS-RELATED IFRS FAS IFRS FAS
EUR million 1-3/04 % 1-3/04 % 1-12/04 % 1-12/04 %
Turnover
Meat Industries 163.7 88.2 163.7 88.2 710.8 85.3 710.8 85.3
Wholesale Trade 25.1 13.5 25.1 13.5 136.3 16.3 136.3 16.3
Eliminations -3.2 -1.7 -3.2 -1.7 -13.4 -1.6 -13.4 -1.6
Total 185.6 100.0 185.6 100.0 833.7 100.0 833.7 100.0
LIABILITIES
IFRS FAS IFRS FAS
EUR million 31-3-04 31-3-04 31-12-04 31-12-04
Debts for which collateral has been provided
in the form of mortgages and other securities
Loans from financial
institutions 73.5 73.5 66.2 66.2
Pension fund loans 5.5 5.5 6.0 6.0
Total 79.0 79.0 72.2 72.2
Mortgages and other securities given
as comprehensive security
Real-estate mortgages 75.4 75.4 74.3 74.3
Corporate mortgages 38.0 38.0 43.0 43.0
Other collateral 37.6 37.6 41.3 41.3
Total 151.0 151.0 158.6 158.6
Contingent liabilities
not included in the balance sheet
Unused limits 75.2 75.2 79.4 79.4
Guarantees 1.3 1.3 1.9 1.9
Leasing liabilities
Next year 0.9 0.9
After more than
one year 1.3 5.5
Total 2.2 6.4
Q2: 1 JANUARY - 30 JUNE 2004
ATRIA GROUP
CONSOLIDATED BALANCE SHEET
Assets IFRS FAS IFRS FAS
EUR million 30-6-04 30-6-04 31-12-04 31-12-04
Fixed assets
Intangible assets 13.7 11.6 13.8 11.8
Goodwill
on consolidation 34.5 34.0 34.6 34.1
Tangible assets 259.7 257.4 267.4 260.3
Calculatory tax receivables on benefit-based pension
responsibilities 1.6 0.1
Loan receivables and
other receivables 2.1 0.6 4.2 4.2
Investments 7.2 6.7 6.3 5.9
Total 318.8 310.3 326.4 316.3
Current assets
Inventories 43.7 43.7 48.0 48.0
Accounts receivable and
other receivables 97.5 97.6 131.6 131.6
Cash in hand
and at bank 11.7 11.7 12.6 12.6
Total 152.9 153.0 192.2 192.2
Assets, total 471.7 463.3 518.6 508.5
Liabilities IFRS FAS IFRS FAS
EUR million 30-6-04 30-6-04 31-12-04 31-12-04
Equity belonging to parent companys
shareholders 224.0 225.7 244.3 240.8
Minority interests 1.6 1.6 19.6 19.6
Equity, total 225.6 227.3 263.9 260.4
Long-term borrowed capital
Interest-bearing debts 81.0 78.7 83.2 77.5
Calculatory tax debts 14.3 13.7 21.4 20.9
Pension liabilities 5.6 0.4
Total 100.9 92.4 105.0 98.4
Short-term borrowed capital
Interest-bearing debts 55.0 55.0 32.8 32.8
Accounts payable and
other debts 90.2 88.6 116.9 116.9
Total 145.2 143.6 149.7 149.7
Borrowed capital,
total 246.1 236.0 254.7 248.1
Liabilities, total 471.7 463.3 518.6 508.5
CONSOLIDATED PROFIT AND LOSS ACCOUNT
IFRS FAS IFRS FAS
EUR million 1-6/04 % 1-6/04 % 1-12/04 % 1-12/04 %
Turnover 397.7 397.7 833.7 833.7
Share of associated
company earnings 0.3 0.5
Expenses, excl. the accrual of
benefit-based pensions -365.7 -366.0 -764.6 -765.0
Accrual of benefit-
based pensions 3.0 8.1
Depreciations (w/o Group goodwills
depreciations) -14.9 -14.4 -27.9 -27.2
Operating profit before Group goodwills
depreciations 20.1 5.1 17.6 4.4 49.3 5.9 42.0 5.0
Depreciation on Group
goodwill -1.6 -3.2
Operating profit 20.1 5.1 16.0 4.0 49.3 5.9 38.8 4.7
Share of associated
company earnings 0.3 0.5
Financial income and
expenses -2.4 -2.3 -5.2 -5.1
Profit before taxes 18.0 4.5 13.7 3.4 44.6 5.3 33.7 4.0
Taxes -3.5 -3.5 -8.5 -8.6
Calculatory taxes on benefit-based
pensions accrual -0.8 -2.4
Minority interest -0.1 -0.1 -0.3 -0.3
Profit for the financial
year 13.6 3.4 10.1 2.5 33.4 4.0 24.8 3.0
Undiluted
earnings/share, 0.65 0.48 1.58 1.17
Earnings/share adjusted
by dilution effect, 0.65 0.48 1.58 1.17
BALANCING CALCULATION FOR PROFIT FOR THE FINANCIAL YEAR
EUR million 1-6/04 1-12/04
Profit for the financial year according to FAS 10.1 24.8
Effects of adopting IFRS:
IAS 19 Employee Benefits
Accrual of benefit-based pensions 3.0 8.1
IAS 12 Income Taxes
Calculatory tax on benefit-based
pensions accrual -0.8 -2.4
IFRS 3 Business Combinations
Changes in affiliated companies -0.1 -0.1
Reimbursement of Groups goodwill depreciations 1.6 3.2
Increase in depreciations -0.2 -0.2
IFRS adjustments, total 3.5 8.6
Profit for the financial year according to IFRS 13.6 33.4
BALANCING CALCULATION FOR EQUITY
EUR million 1-1-04 30-6-04 31-12-04
Equity according to FAS 226.2 227.2 260.4
Effects of adopting IFRS:
IAS 19 Employee Benefits
Accrual of benefit-based pensions -8.6 -5.6 -0.4
IAS 12 Income Taxes
Calculatory tax on benefit-based
pensions accrual 2.5 1.6 0.1
IFRS 3 Business Combinations
Changes in affiliated companies 0.6 0.5 0.4
Changes in Groups goodwill
depreciations 0.5 2.1 3.7
Increase in depreciations -0.1 -0.2 -0.3
IFRS adjustments, total -5.1 -1.6 3.5
Equity according to IFRS 221.1 225.6 263.9
CONSOLIDATED CASH FLOW CALCULATION
IFRS FAS IFRS FAS
EUR million 1-6/04 1-6/04 1-12/04 1-12/04
Cash flow
from operations 28.0 23.6 72.1 71.7
Financial items
and taxes -4.4 -4.4 -13.2 -13.2
Cash flow
from operations 23.6 19.2 58.9 58.5
Investments
Investments in tangible
and intangible assets -16.9 -16.9 -33.9 -33.9
Investments -0.3 0.5
Cash flow
from investments -17.2 -16.9 -33.4 -33.9
Loans drawn down 25.8 8.5 12.8
Loans repaid -21.4 -28.5 -14.8
Dividends paid -9.0 -9.0 -9.0 -9.0
Cash flow
from financing -4.6 -0.5 -24.7 -23.8
Change in liquid funds 1.8 1.8 0.8 0.8
INDICATORS
IFRS FAS IFRS FAS
EUR million 1-6/04 1-6/04 1-12/04 1-12/04
Undiluted
earnings/share, 0.65 0.48 1.58 1.17
Earnings/share adjusted
by dilution effect, 0.65 0.48 1.58 1.17
Equity/share, 10.70 10.70 12.51 11.42
Interest-bearing debts 136.0 133.7 116.0 110.3
Equity ratio, % 47.9 49.1 50.9 51.3
Gross investments 17.0 16.9 37.3 33.8
Gross investments
/turnover, % 4.3 4.3 4.5 4.1
Personnel on average 3 615 3 615 3 638 3 638
SEGMENT-SPECIFIC DATA
GEOGRAPHICAL IFRS FAS IFRS FAS
EUR million 1-6/04 % 1-6/04 % 1-12/04 % 1-12/04 %
Turnover
Finland 253.3 63.7 253.3 63.7 525.8 63.1 525.8 63.1
Sweden 145.8 36.7 145.8 36.7 310.2 37.2 310.2 37.2
Others and eliminations -1.4 -0.4 -1.4 -0.4 -2.3 -0.3 -2.3 -0.3
Total 397.7 100.0 397.7 100.0 833.7 100.0 833.7 100.0
Operating profit
Finland 15.8 78.6 13.0 81.3 37.7 76.5 29.7 76.5
Sweden 4.8 23.9 3.4 21.3 12.1 24.5 9.4 24.2
Others and eliminations -0.5 -2.5 -0.4 -2.5 -0.5 -1.0 -0.3 -0.8
Total 20.1 100.0 16.0 100.0 49.3 100.0 38.8 100.0
Investments
Finland 13.2 77.6 13.2 78.1 28.8 77.2 27.1 80.2
Sweden 3.1 18.2 3.0 17.8 6.9 18.5 5.1 15.1
Others 0.7 4.1 0.7 4.1 1.6 4.3 1.6 4.7
Total 17.0 100.0 16.9 100.0 37.3 100.0 33.8 100.0
Funds
Finland 389.3 82.5 386.7 83.5 433.7 83.6 430.8 84.7
Sweden 135.8 28.8 131.5 28.4 137.7 26.6 130.4 25.6
Others and eliminations -53.4 -11.3 -54.9 -11.8 -52.8 -10.2 -52.7 -10.4
Total 471.7 100.0 463.3 100.0 518.6 100.0 508.5 100.0
Debts
Finland 172.9 70.3 165.7 70.2 180.2 70.7 178.0 71.7
Sweden 74.5 30.3 72.2 30.6 73.7 28.9 69.8 28.1
Others and eliminations -1.3 -0.5 -1.9 -0.8 0.8 0.3 0.3 0.1
Total 246.1 100.0 236.0 100.0 254.7 100.0 248.1 100.0
BUSINESS-RELATED IFRS FAS IFRS FAS
EUR million 1-6/04 % 1-6/04 % 1-12/04 % 1-12/04 %
Turnover
Meat Industries 345.9 87.0 345.9 87.0 710.8 85.3 710.8 85.3
Wholesale Trade 58.7 14.8 58.7 14.8 136.3 16.3 136.3 16.3
Eliminations -6.9 -1.7 -6.9 -1.7 -13.4 -1.6 -13.4 -1.6
Total 397.7 100.0 397.7 100.0 833.7 100.0 833.7 100.0
LIABILITIES
IFRS FAS IFRS FAS
EUR million 30-6-04 30-6-04 31-12-04 31-12-04
Debts for which collateral has been provided
in the form of mortgages and other securities
Loans from financial
institutions 69.1 69.1 66.2 66.2
Pension fund loans 5.7 5.7 6.0 6.0
Total 74.8 74.8 72.2 72.2
Mortgages and other securities given
as comprehensive security
Real-estate mortgages 75.5 75.5 74.3 74.3
Corporate mortgages 37.9 37.9 43.0 43.0
Other collateral 45.4 45.4 41.3 41.3
Total 158.8 158.8 158.6 158.6
Contingent liabilities
not included in the balance sheet
Unused limits 76.3 76.3 79.4 79.4
Guarantees 1.4 1.4 1.9 1.9
Leasing liabilities
Next year 0.8 0.9
After more than
one year 1.8 5.5
Total 2.6 6.4
Q3: 1 JANUARY - 30 SEPTEMBER
ATRIA GROUP
CONSOLIDATED BALANCE SHEET
Assets IFRS FAS IFRS FAS
EUR million 30-9-04 30-9-04 31-12-04 31-12-04
Fixed assets
Intangible assets 13.1 11.1 13.8 11.8
Goodwill
on consolidation 34.6 33.3 34.6 34.1
Tangible assets 264.0 258.4 267.4 260.3
Calculatory tax receivables on benefit-based pension
responsibilities 1.3 0.1
Loan receivables and
other receivables 0.6 0.6 4.2 4.2
Investments 7.3 6.9 6.3 5.9
Total 320.9 310.3 326.4 316.3
Current assets
Inventories 43.0 43.0 48.0 48.0
Accounts receivable and
other receivables 98.5 98.5 131.6 131.6
Cash in hand
and at bank 16.5 16.5 12.6 12.6
Total 158.0 158.0 192.2 192.2
Assets, total 478.9 468.3 518.6 508.5
Liabilities IFRS FAS IFRS FAS
EUR million 30-9-04 30-9-04 31-12-04 31-12-04
Equity belonging to parent companys
shareholders 233.9 234.4 244.3 240.8
Minority interests 1.8 1.8 19.6 19.6
Equity, total 235.7 236.2 263.9 260.4
Long-term borrowed capital
Interest-bearing debts 82.5 78.3 83.2 77.5
Calculatory tax debts 14.3 13.8 21.4 20.9
Pension liabilities 4.9 0.4
Total 101.7 92.1 105.0 98.4
Short-term borrowed capital
Interest-bearing debts 45.1 45.1 32.8 32.8
Accounts payable and
other debts 96.4 94.9 116.9 116.9
Total 141.5 140.0 149.7 149.7
Borrowed capital,
total 243.2 232.1 254.7 248.1
Liabilities, total 478.9 468.3 518.6 508.5
CONSOLIDATED PROFIT AND LOSS ACCOUNT
IFRS FAS IFRS FAS
EUR million 1-9/04 % 1-9/04 % 1-12/04 % 1-12/04 %
Turnover 613.5 613.5 833.7 833.7
Share of associated
company earnings 0.4 0.5
Expenses, excl. the accrual of
benefit-based pensions -560.1 -560.5 -764.6 -765.0
Accrual of benefit-
based pensions 3.7 8.1
Depreciations (w/o Group goodwills
depreciations) -22.1 -21.5 -27.9 -27.2
Operating profit before Group goodwills
depreciations 35.0 5.7 31.9 5.2 49.3 5.9 42.0 5.0
Depreciation on Group
goodwill -2.4 -3.2
Operating profit 35.0 5.7 29.5 4.8 49.3 5.9 38.8 4.7
Share of associated
company earnings 0.4 0.5
Financial income and
expenses -3.7 -3.6 -5.2 -5.1
Profit before taxes 31.7 5.2 25.9 4.2 44.6 5.3 33.7 4.0
Taxes -7.1 -7.1 -8.5 -8.6
Calculatory taxes on benefit-based
pensions accrual -1.2 -2.4
Minority interest -0.3 -0.3 -0.3 -0.3
Profit for the financial
year 23.1 3.8 18.5 3.0 33.4 4.0 24.8 3.0
Undiluted
earnings/share, 1.10 0.88 1.58 1.17
Earnings/share adjusted
by dilution effect, 1.10 0.88 1.58 1.17
BALANCING CALCULATION FOR PROFIT FOR THE FINANCIAL YEAR
EUR million 1-9/04 1-12/04
Profit for the financial year according to FAS 18.5 24.8
Effects of adopting IFRS:
IAS 19 Employee Benefits
Accrual of benefit-based pensions 3.7 8.1
IAS 12 Income Taxes
Calculatory tax on benefit-based
pensions accrual -1.2 -2.4
IFRS 3 Business Combinations
Changes in affiliated companies -0.1 -0.1
Reimbursement of Groups goodwill depreciations 2.4 3.2
Increase in depreciations -0.2 -0.2
IFRS adjustments. total 4.6 8.6
Profit for the financial year according to IFRS 23.1 33.4
BALANCING CALCULATION FOR EQUITY
EUR million 1-1-04 30-9-04 31-12-04
Equity according to FAS 226.2 236.2 260.4
Effects of adopting IFRS:
IAS 19 Employee Benefits
Accrual of benefit-based pensions -8.6 -4.9 -0.4
IAS 12 Income Taxes
Calculatory tax on benefit-based
pensions accrual 2.5 1.3 0.1
IFRS 3 Business Combinations
Changes in affiliated companies 0.6 0.5 0.4
Changes in Groups goodwill
depreciations 0.5 2.9 3.7
Increase in depreciations -0.1 -0.3 -0.3
IFRS adjustments, total -5.1 -0.5 3.5
Equity according to IFRS 221.1 235.7 263.9
CONSOLIDATED CASH FLOW CALCULATION
IFRS FAS IFRS FAS
EUR million 1-9/04 1-9/04 1-12/04 1-12/04
Cash flow
from operations 56.3 58.8 72.1 71.7
Financial items
and taxes -9.8 -9.8 -13.2 -13.2
Cash flow
from operations 46.5 49.0 58.9 58.5
Investments
Investments in tangible
and intangible assets -24.1 -24.2 -33.9 -33.9
Investments -0.7 0.5
Cash flow
from investments -24.8 -24.2 -33.4 -33.9
Loans drawn down 14.3 12.8
Loans repaid -20.4 -9.2 -28.5 -14.8
Dividends paid -9.0 -9.0 -9.0 -9.0
Cash flow
from financing -15.1 -18.2 -24.7 -23.8
Change in liquid funds 6.6 6.6 0.8 0.8
INDICATORS
IFRS FAS IFRS FAS
EUR million 1-9/04 1-9/04 1-12/04 1-12/04
Undiluted
earnings/share, 1.10 0.88 1.58 1.17
Earnings/share adjusted
by dilution effect, 1.10 0.88 1.58 1.17
Equity/share, 11.17 11.11 12.51 11.42
Interest-bearing debts 127.6 123.4 116.0 110.3
Equity ratio, % 49.3 50.5 50.9 51.3
Gross investments 26.0 24.2 37.3 33.8
Gross investments
/turnover, % 4.2 3.9 4.5 4.1
Personnel on average 3 621 3 621 3 638 3 638
SEGMENT-SPECIFIC DATA
GEOGRAPHICAL IFRS FAS IFRS FAS
EUR million 1-9/04 % 1-9/04 % 1-12/04 % 1-12/04 %
Turnover
Finland 386.3 63.0 386.3 63.0 525.8 63.1 525.8 63.1
Sweden 229.4 37.4 229.4 37.4 310.2 37.2 310.2 37.2
Others and eliminations -2.2 -0.4 -2.2 -0.4 -2.3 -0.3 -2.3 -0.3
Total 613.5 100.0 613.5 100.0 833.7 100.0 833.7 100.0
Operating profit
Finland 27.0 77.1 23.5 79.7 37.7 76.5 29.7 76.5
Sweden 9.0 25.7 7.1 24.1 12.1 24.5 9.4 24.2
Others and eliminations -1.0 -2.9 -1.1 -3.7 -0.5 -1.0 -0.3 -0.8
Total 35.0 100.0 29.5 100.0 49.3 100.0 38.8 100.0
Investments
Finland 20.1 77.3 18.4 76.3 28.8 77.2 27.1 80.2
Sweden 4.0 15.4 3.9 16.2 6.9 18.5 5.1 15.1
Others 1.9 7.3 1.8 7.5 1.6 4.3 1.6 4.7
Total 26.0 100.0 24.1 100.0 37.3 100.0 33.8 100.0
Funds
Finland 391.2 81.7 387.2 82.7 433.7 83.6 430.8 84.7
Sweden 141.2 29.5 136.1 29.1 137.7 26.6 130.4 25.6
Others and eliminations -53.5 -11.2 -55.0 -11.7 -52.8 -10.2 -52.7 -10.4
Total 478.9 100.0 468.3 100.0 518.6 100.0 508.5 100.0
Debts
Finland 167.5 68.9 159.2 68.6 180.2 70.7 178.0 71.7
Sweden 76.5 31.5 74.1 31.9 73.7 28.9 69.8 28.1
Others and eliminations -0.8 -0.3 -1.2 -0.5 0.8 0.3 0.3 0.1
Total 243.2 100.0 232.1 100.0 254.7 100.0 248.1 100.0
BUSINESS-RELATED IFRS FAS IFRS FAS
EUR million 1-9/04 % 1-9/04 % 1-12/04 % 1-12/04 %
Turnover
Meat Industries 527.1 85.9 527.1 85.9 710.8 85.3 710.8 85.3
Wholesale Trade 96.7 15.8 96.7 15.8 136.3 16.3 136.3 16.3
Eliminations -10.3 -1.7 -10.3 -1.7 -13.4 -1.6 -13.4 -1.6
Total 613.5 100.0 613.5 100.0 833.7 100.0 833.7 100.0
LIABILITIES
IFRS FAS IFRS FAS
EUR million 30-9-04 30-9-04 31-12-04 31-12-04
Debts for which collateral has been provided
in the form of mortgages and other securities
Loans from financial
institutions 71.4 71.4 66.2 66.2
Pension fund loans 6.0 6.0 6.0 6.0
Total 77.4 77.4 72.2 72.2
Mortgages and other securities given
as comprehensive security
Real-estate mortgages 75.6 75.6 74.3 74.3
Corporate mortgages 37.9 37.9 43.0 43.0
Other collateral 39.6 39.6 41.3 41.3
Total 153.1 153.1 158.6 158.6
Contingent liabilities
not included in the balance sheet
Unused limits 73.5 73.5 79.4 79.4
Guarantees 1.3 1.3 1.9 1.9
Leasing liabilities
Next year 1.1 0.9
After more than
one year 3.8 5.5
Total 4.9 6.4
FINANCIAL STATEMENT: 1 JANUARY - 31 DECEMBER 2004
ATRIA GROUP
CONSOLIDATED BALANCE SHEET
Assets IFRS FAS
EUR million 31-12-04 31-12-04
Fixed assets
Intangible assets 13.8 11.8
Goodwill on consolidation 34.6 34.1
Tangible assets 267.4 260.3
Calculatory tax receivables
on benefit-based pension responsibilities 0.1
Loan receivables and other receivables 4.2 4.2
Investments 6.3 5.9
Total 326.4 316.3
Current assets
Inventories 48.0 48.0
Accounts receivable and other receivables 131.6 131.6
Cash in hand and at bank 12.6 12.6
Total 192.2 192.2
Assets, total 518.6 508.5
Liabilities IFRS FAS
EUR million 31-12-04 31-12-04
Equity belonging to
parent companys shareholders 244.3 240.8
Minority interests 19.6 19.6
Equity, total 263.9 260.4
Long-term borrowed capital
Interest-bearing debts 83.2 77.5
Calculatory tax debts 21.4 20.9
Pension liabilities 0.4
Total 105.0 98.4
Short-term borrowed capital
Interest-bearing debts 32.8 32.8
Accounts payable and other debts 116.9 116.9
Total 149.7 149.7
Borrowed capital. total 254.7 248.1
Liabilities, total 518.6 508.5
CONSOLIDATED PROFIT AND LOSS ACCOUNT
IFRS FAS
EUR million 1-12/04 % 1-12/04 %
Turnover 833.7 833.7
Share of associated company earnings 0.5
Expenses, excl- the accrual
of benefit-based pensions -764.6 -765.0
Accrual of benefit-based pensions 8.1
Depreciations (w/o Group
goodwills depreciations) -27.9 -27.2
Operating profit before Group goodwills
depreciations 49.3 5.9 42.0 5.0
Depreciation on Group goodwill -3.2
Operating profit 49.3 5.9 38.8 4.7
Share of associated company earnings 0.5
Financial income and expenses -5.2 -5.1
Profit before taxes 44.6 5.3 33.7 4.0
Taxes -8.5 -8.6
Calculatory taxes on benefit-based
pensions accrual -2.4
Minority interest -0.3 -0.3
Profit for the financial year 33.4 4.0 24.8 3.0
Undiluted earnings/share, 1.58 1.17
Earnings/share adjusted 1.58 1.17
by dilution effect,
CONSOLIDATED CASH FLOW CALCULATION
IFRS FAS
EUR mill- 1-12/04 1-12/04
Cash flow from operations 72.1 71.7
Financial items and taxes -13.2 -13.2
Cash flow from operations, total 58.9 58.5
Investments
Investments in tangible and intangible assets -33.9 -33.9
Investments 0.5
Cash flow from investments, total -33.4 -33.9
Loans drawn down 12.8
Loans repaid -28.5 -14.8
Dividends paid -9.0 -9.0
Cash flow from financing -24.7 -23.8
Change in liquid funds 0.8 0.8
BALANCING CALCULATION FOR PROFIT FOR THE FINANCIAL YEAR
EUR million 1-12/04
Profit for the financial year according to FAS 24.8
Effects of adopting IFRS:
IAS 19 Employment-based benefits
Accrual of benefit-based pensions 8.1
IAS 12 Income taxes
Calculatory tax on benefit-based
pensions accrual -2.4
IFRS 3 Company consortia
Changes in affiliated companies -0.1
Reimbursement of Groups goodwill depreciations 3.2
Increase in depreciations -0.2
IFRS adjustments, total 8.6
Profit for the financial year according to IFRS 33.4
BALANCING CALCULATION FOR EQUITY
EUR million 1-1-04 31-12-04
Equity according to FAS 226.2 260.4
Effects of adopting IFRS:
IAS 19 Employment-based benefits
Accrual of benefit-based pensions -8.6 -0.4
IAS 12 Income taxes
Calculatory tax on benefit-based
pensions accrual 2.5 0.1
IFRS 3 Company consortia
Changes in affiliated companies 0.6 0.4
Changes in Groups goodwill depreciations 0.5 3.7
Increase in depreciations -0.1 -0.3
IFRS adjustments, total -5.1 3.5
Equity according to IFRS 221.1 263.9
FINANCIAL INDICATORS
IFRS FAS FAS FAS FAS FAS
31-12-04 31-12-04 31-12-03 31-12-02 31-12-01 31-12-00
Turnover, EUR million 833.7 833.7 765.1 707.0 637.4 615.7
Operating profit,
EUR million 49.3 38.8 30.9 25.6 28.9 18.8
% of turnover 5.9 4.7 4.0 3.6 4.5 3.1
Financial income and
expenses, EUR million -5.2 -5.1 -7.3 -5.2 -4.9 -5.3
% of turnover 0.6 0.6 0.9 0.7 0.8 0.9
Profit before taxes 44.6 33.7 23.6 20.4 23.9 13.5
% of turnover 5.3 4.0 3.1 2.9 3.8 2.2
Return on equity (ROE), % 13.9 10.3 7.5 7.7 9.2 4.9
Return on
investment (ROI), % 13.9 10.7 9.1 7.9 10.0 6.8
Equity ratio, % 50.9 51.3 49.6 43.3 48.7 46.7
Gross investments
EUR million 37.3 33.8 36.4 66.0 23.2 32.1
% of turnover 4.5 4.1 4.8 9.3 3.6 5.2
Interest-bearing debts 116.0 110.3 129.4 157.9 116.0 127.0
Staff 3 638 3 638 3 377 3 300 3 241 3 419
Research and development
expenses, EUR million 7.0 7.0 6.7 6.1 5.5 5.8
% of turnover* 0.8 0.8 0.9 0.9 0.9 0.9
Volume of orders** - - - - - -
* Booked in total as expenditure for the financial year
** Not a significant indicator. as orders are
in general delivered on the day following the order
SHARE-ISSUE ADJUSTED PER-SHARE INDICATORS
IFRS FAS FAS FAS FAS FAS
31-12-04 31-12-04 31-12-03 31-12-02 31-12-01 31-12-00
Earnings
per share (EPS), EUR 1.58 1.17 0.83 0.78 0.88 0.46
Shareholders' equity
per share 12.51 11.42 10.65 10.45 10.01 9.40
Dividend/share, EUR* 0.595 0.595 0.425 0.372 0.372 0.219
Dividend/profit, % * 37.7 50.7 51.5 47.8 42.4 48.5
Effective dividend yield * 5.3 5.3 4.7 5.5 7.1 5.9
Price/earnings (P/E) 7.15 9.62 10.90 8.67 5.97 8.26
Market capitalisation.
EUR million 238.3 238.3 190.9 121.8 94.9 67.9
Share turnover/1000
shares A 3 800 3 800 2 325 1 249 1 226 602
Share turnover, % A 32.0 32.0 29.9 18.9 18.5 9.1
Total number
of shares, million 21.1 21.1 21.1 15.8 15.8 15.8
Number of shares A 11.9 11.9 11.9 6.6 6.6 6.6
Number of shares KII 9.2 9.2 9.2 9.2 9.2 9.2
Share issue-adjusted number of shares
on average 21.1 21.1 18.3 18.1 18.1 18.1
Share issue-adjusted number of shares
on 31 Dec- 21.1 21.1 21.1 18.1 18.1 18.1
SHARE PRICE DEVELOPMENT
Lowest of the period A 8.55 8.55 6.81 5.85 3.81 4.02
Highest of the period A 11.75 11.75 11.40 8.90 6.19 6.00
At end of the period A 11.30 11.30 9.05 7.70 6.00 4.29
Average price during
the financial period A 9.42 9.42 9.20 7.35 5.22 4.99
* Proposal of the Board of Directors
SEGMENT-SPECIFIC DATA
GEOGRAPHICAL IFRS FAS
EUR million 1-12/04 % 1-12/04 %
Turnover
Finland 525.8 63.1 525.8 63.1
Sweden 310.2 37.2 310.2 37.2
Others and eliminations -2.3 -0.3 -2.3 -0.3
Total 833.7 100.0 833.7 100.0
Operating profit
Finland 37.7 76.5 29.7 76.5
Sweden 12.1 24.5 9.4 24.2
Others and eliminations -0.5 -1.0 -0.3 -0.8
Total 49.3 100.0 38.8 100.0
Investments
Finland 28.8 77.2 27.1 80.2
Sweden 6.9 18.5 5.1 15.1
Others 1.6 4.3 1.6 4.7
Total 37.3 100.0 33.8 100.0
Funds
Finland 433.7 83.6 430.8 84.7
Sweden 137.7 26.6 130.4 25.6
Others and eliminations -52.8 -10.2 -52.7 -10.4
Total 518.6 100.0 508.5 100.0
Debts
Finland 180.2 70.7 178.0 71.7
Sweden 73.7 28.9 69.8 28.1
Others and eliminations 0.8 0.3 0.3 0.1
Total 254.7 100.0 248.1 100.0
BUSINESS-RELATED IFRS FAS
EUR million 1-12/04 % 1-12/04 %
Turnover
Meat Industries 710.8 85.3 710.8 85.3
Wholesale Trade 136.3 16.3 136.3 16.3
Eliminations -13.4 -1.6 -13.4 -1.6
Total 833.7 100.0 833.7 100.0
LIABILITIES
IFRS FAS
EUR million 31-12-04 31-12-04
Debts for which collateral has been provided
in the form of mortgages and other securuties
Loans from financial institutions 66.2 66.2
Pension fund loans 6.0 6.0
Total 72.2 72.2
Mortgages and other securities given
as comprehensive security
Real-estate mortgages 74.3 74.3
Corporate mortgages 43.0 43.0
Other collateral 41.3 41.3
Total 158.6 158.6
Contingent liabilities
not included in the balance sheet
Unused limits 79.4 79.4
Guarantees 1.9 1.9
Leasing liabilities
Next year 0.9
After more than one year 5.5
Total 6.4
ATRIA GROUP PLC
Erkki Roivas
Financial Director
DISTRIBUTION
Helsinki Stock Exchange
Principal media
