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Atria Optimistic of Growth

30 July 2013

FINLAND - Finnish meat processor Atria Group's net sales for April-June this year reached €363.6 million compared to € 333.3 million for the same period in 2012, up by €30.3 million year-on-year.

EBIT was € 7.7 million compared to €5.7 million, up by €2.0 million year-on-year.

Atria Finland's net sales for April-June totalled €230.9 million compared to €204.6million, up by €26.3 million year-on-year.

EBIT was € 7.4 million €7.8 million, down by € 0.4 million year-on-year.

The company said that net sales and market share strengthened significantly during the period under review.

The decrease in export prices because of the weakening of the global meat market weighed down the growth in EBIT.

Atria Scandinavia's net sales for April-June totalled € 98.1 million €95.0 million, up by € 3.1 million year-on-year.

In the local currency, net sales were at the previous year's level. EBIT was €1.8 million the same as a year ago.

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 € 31.5 million compared to € 31.3 million a year ago.

In the local currency, net sales increased by 3.2 per cent year-on-year. EBIT was €0.4 million compared to a loss of €2.0 million a year ago, up by €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 €9.3 million compared to €9.1 million. EBIT was at break-even million compared to a loss of €0.4 million, up by €0.4 million year-on-year.

The Group's net sales for January-June reached €692.0 million compared to € 641.8 million in 2012, up by €50.2 million year-on-year.

EBIT was €10.9 million compared to €5.8 million last year, up by €5.1 million year-on-year. EBIT includes a non-recurring profit of € 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 €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.

Atria Finland's net sales for January-June totalled €436.0 million compared to €393.0 million in 2012, up by €43.0 million year-on-year.

EBIT was €14.1 million compared to €13.0 million, up by €1.1 million year-on-year.

EBIT includes a non-recurring profit of €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 €192.3 million compared to €184.5 million, up by € 7.8 million year-on-year. In the local currency, net sales grew by 1.2 per cent year-on-year.

EBIT was €1.8 million down from €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 € 58.9 million down from € 59.6 million.

In the local currency, net sales grew by 1.2 per cent year-on-year.

EBIT was a negative €2.8 million compared to a negative €5.3 million, up by €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 €16.6 million down from €17.0 million, down by €0.4 million year-on-year.

EBIT was a negative €0.4 million compared to minus €0.9 million, up by €0.5 million year-on-year.

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

TheMeatSite News Desk



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