Interim report of Atria Plc 1 January - 30 June 2013

Atria Plc  Company Announcement 25 July 2013 at 8.00 am

*Non-recurring items are included in the reported figures.


Review 1 April – 30 June 2013

Atria Group's net sales for April–June totalled EUR 363.6 million (EUR 333.3 million), up by EUR 30.3 million year-on-year. EBIT was EUR 7.7 million (EUR 5.7 million), up by EUR 2.0 million year-on-year.

Atria Finland's net sales for April–June totalled EUR 230.9 million (EUR 204.6 million), up by EUR 26.3 million year-on-year. EBIT was EUR 7.4 million (EUR 7.8 million), down by EUR 0.4 million year-on-year. Net sales and market share strengthened significantly during the period under review. The decrease in export prices due to the weakening of the global meat market weighed down the growth in EBIT.

Atria Scandinavia's net sales for April–June totalled EUR 98.1 million (EUR 95.0 million), up by EUR 3.1 million year-on-year. In the local currency, net sales were at the previous year's level. EBIT was EUR 1.8 million (EUR 1.8 million). The persistently high prices of Swedish meat raw material and the increased marketing efforts weighed down EBIT development.

Atria Russia's net sales for April–June totalled EUR 31.5 million (EUR 31.3 million). In the local currency, net sales increased by 3.2 per cent year-on-year. EBIT was EUR 0.4 million (EUR -2.0 million), up by EUR 2.4 million year-on-year. Efficiency improvement measures had a positive effect on the result for industrial operations. The poor profitability of primary production continued to weigh down second-quarter profits.

Atria Baltic's net sales for April–June totalled EUR 9.3 million (EUR 9.1 million). EBIT was EUR 0.0 million (EUR -0.4 million), up by EUR 0.4 million year-on-year.

Review 1 January – 30 June 2013

Atria Group's net sales for January–June totalled EUR 692.0 million (EUR 641.8 million), up by EUR 50.2 million year-on-year. EBIT was EUR 10.9 million (EUR 5.8 million), up by EUR 5.1 million year-on-year. EBIT includes a non-recurring profit of EUR 1.1 million resulting from a reversal of impairment on a property that had been for sale in Forssa.

In March, Atria issued a fixed-interest bond worth EUR 50 million. The funds received are used for refinancing and for the Group's general financing needs. The loan period is five years and a coupon rate of 4.375 per cent is payable on the debt. The bonds are publicly traded on the NASDAQ OMX Helsinki Ltd stock exchange.

The Group's free cash flow for the period under review (operating cash flow - cash flow from investments) was EUR -1.0 million (EUR -9.6 million), and net liabilities were EUR 364.4 million (EUR 419.8 million).

Atria Finland's net sales for January–June totalled EUR 436.0 million (EUR 393.0 million), up by EUR 43.0 million year-on-year. EBIT was EUR 14.1 million (EUR 13.0 million), up by EUR 1.1 million year-on-year. EBIT includes a non-recurring profit of EUR 1.1 million resulting from a reversal of impairment on a property that had been for sale in Forssa. The high price of domestic meat raw material and the decrease in export prices due to the weakening of the global meat market weighed down the growth in EBIT.

Atria Scandinavia's net sales for January–June totalled EUR 192.3 million (EUR 184.5 million), up by EUR 7.8 million year-on-year. In the local currency, net sales grew by 1.2 per cent year-on-year. EBIT was EUR 1.8 million (EUR 1.9 million). The high prices of meat raw material and the increased marketing efforts weighed down EBIT development.

Atria Russia's net sales for January–June totalled EUR 58.9 million (EUR 59.6 million). In the local currency, net sales grew by 1.2 per cent year-on-year. EBIT was EUR -2.8 million (EUR -5.3 million), up by EUR 2.5 million year-on-year. The result for industrial operations improved considerably and the launched efficiency improvement measures generated the planned profits. The weakening of primary production profitability, which started at the end of last year, weighed down first-half profits.

Atria Baltic's net sales for January–June totalled EUR 16.6 million (EUR 17.0 million), down by EUR 0.4 million year-on-year. EBIT was EUR -0.4 million (EUR -0.9 million), up by EUR 0.5 million year-on-year. 
 

Outlook for the future

Consolidated EBIT was EUR 30.2 million in 2012. In 2013, it is expected to be higher. Growth in net sales is expected for 2013.

Publication procedure

Atria Plc complies with the publication procedure in accordance with standard 5.2b of the Financial Supervisory Authority and publishes its 1 JANUARY – 30 JUNE 2013 interim report release as an attachment to this company announcement. The full interim report is available on the company’s website at www.atriagroup.com.

For more information, please contact Juha Gröhn, CEO, Atria Plc, tel. +358 400 684 224.

Invitation to a press conference

A press conference conducted in Finnish will be arranged today 25 July 2013 at 9:30 am at Atria offices in Helsinki, address Läkkisepäntie 23, Helsinki. The presentation material will be available on the company’s website (www.atriagroup.com/en/investors/FinancialInformation/quarterlyreports) after the distribution of the interim report and as an attachment to this company announcement.


ATRIA PLC
Board of Directors


DISTRIBUTION
Nasdaq OMX Helsinki Ltd
Major media
www.atriagroup.com