Olvi restores its near-term outlook for continuing operations and changes its segment reporting
Olvi plc Inside information 21 April 2022 at 8.30 am
Olvi restores its near-term outlook for continuing operations and changes its segment reporting
Classification of Belarusian business operations as assets held for sale
At its meeting on 21 April 2022, the Board of Directors of Olvi plc decided to classify the company’s business operations in Belarus as discontinued operations/ assets held for sale in accordance with IFRS 5. In accordance with this decision, Olvi will only report on continuing operations from now on, and the information related to the assets held for sale will be reported in the appendix.
Olvi is committed to divesting its business in Belarus and the process has been actively pursued. The identification of potential buyers and negotiations to implement the sale are in progress. Local and international legislation and the employees will be taken into account during the process. More detailed information related to the divestment will be announced in connection with the publication of the interim report on 21 April 2022 at 9 am.
Near-term outlook restored
In its stock exchange release on 5 March 2022, Olvi withdrew its near-term outlook for 2022 because of the uncertainty caused by the war in Ukraine, the end of exports to Russia and Belarus and Olvi’s divestment of its business operations in Belarus. The Board has decided to restore the near-term outlook for continuing operations, which include the company’s reporting segments in Finland and the Baltic Sea region. Its business operations in Belarus have been classified to assets held for sale and will not therefore be included in the near-term outlook.
Operating profit from continuing operations are expected to remain at a good level, on a par with the previous year. The company’s financial situation and outlook will be discussed in more detail in the interim report to be published on 21 April 2022 at 9 am.
Change in reporting segments
Olvi made changes to its segment structure on 1 January 2022. The company now has three segments: Finland, the Baltic Sea region and Belarus. The reporting by segments was changed by merging Estonia, Latvia, Lithuania and Denmark into Baltic Sea region. These segments are estimated to constitute a well-balanced whole in terms of the size and nature of the markets.
The Group’s financial information for 2021 is presented in the tables below, adjusted for the new segment structure. The information disclosed below is unaudited.
|
Sales volume, thousand litres |
1–3/2021 |
4–6/2021 |
7–9/2021 |
10–12/2021 |
1–12/2021 |
|
Finland |
55,227 |
72,693 |
69,078 |
61,077 |
258,075 |
|
Baltic Sea region |
61,359 |
95,053 |
103,160 |
87,731 |
347,303 |
|
Belarus |
53,420 |
92,105 |
86,725 |
51,041 |
283,291 |
|
Eliminations |
-6,120 |
-10,037 |
-11,660 |
-7,175 |
-34,992 |
|
Total |
163,886 |
249,814 |
247,303 |
192,674 |
853,677 |
|
Net sales, EUR thousand |
1–3/2021 |
4–6/2021 |
7–9/2021 |
10–12/2021 |
1–12/2021 |
|
Finland |
38,783 |
53,730 |
52,903 |
47,248 |
192,664 |
|
Baltic Sea region |
32,446 |
52,061 |
55,285 |
46,180 |
185,972 |
|
Belarus |
16,308 |
30,228 |
30,907 |
20,932 |
98,375 |
|
Eliminations |
-2,219 |
-4,065 |
-4,776 |
-3,725 |
-14,785 |
|
Total |
85,318 |
131,954 |
134,319 |
110,635 |
462,226 |
|
Operating profit, EUR thousand |
1–3/2021 |
4–6/2021 |
7–9/2021 |
10–12/2021 |
1–12/2021 |
|
Finland |
3,752 |
7,995 |
9,755 |
3,680 |
25,182 |
|
Baltic Sea region |
2,707 |
7,767 |
8,447 |
2,041 |
20,962 |
|
Belarus |
1,731 |
5,119 |
5,744 |
1,877 |
14,471 |
|
Eliminations |
-134 |
-278 |
-343 |
-421 |
-1,176 |
|
Total |
8,056 |
20,603 |
23,603 |
7,177 |
59,439 |
|
EUR 1,000 |
1–3/2021 |
4–6/2021 |
7–9/2021 |
10–12/2021 |
1–12/2021 |
|
Finland |
3,418 |
24,812 |
7,653 |
4,591 |
40,474 |
|
Baltic Sea region |
2,512 |
4,956 |
8,198 |
2,295 |
17,961 |
|
Belarus |
1,542 |
4,209 |
4,939 |
1,526 |
12,216 |
|
Eliminations |
-600 |
-19,000 |
54 |
-2,744 |
-22,290 |
|
Total |
6,872 |
14,977 |
20,844 |
5,668 |
48,361 |
|
Personnel |
1–3/2021 |
4–6/2021 |
7–9/2021 |
10–12/2021 |
1–12/2021 |
|
Finland |
371 |
437 |
448 |
408 |
416 |
|
Baltic Sea region |
765 |
848 |
920 |
933 |
863 |
|
Belarus |
787 |
845 |
859 |
837 |
832 |
|
Total |
1,923 |
2,130 |
2,227 |
2,178 |
2,111 |
|
Segment net sales, EUR 1,000
|
Beverage sales |
Equipment services |
External sales |
Internal sales |
Total net sales |
|
Finland |
190,333 |
1,240 |
191,573 |
1,091 |
192,664 |
|
Baltic Sea region |
173,192 |
|
173,192 |
12,780 |
185,972 |
|
Belarus |
97,461 |
|
97,461 |
914 |
98,375 |
|
Eliminations |
|
|
|
-14,785 |
-14,785 |
|
Group |
460,986 |
1,240 |
462,226 |
0 |
462,226 |
More information:
Olvi plc
Lasse Aho, Managing Director, tel. +358 400 203 600
Tiina-Liisa Liukkonen, CFO, tel. +358 41 505 4779
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
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