FINLAND: Atria ends loss-making 2013 with Q4 profit rise
Finnish meat group Atria has reported a loss of EUR4m (US$5.5m) for 2013 but closed the year with a fourth-quarter profit increase amid lower costs.
Atria posted a loss of EUR4.3m for last year linked to costs associated with its withdrawal from Russia, which the company flagged when it reported its third-quarter numbers in November.
The company has stopped primary pork production in Russia and decided to discontinue industrial production in Moscow.
However, for the three months to the end of December, net profit was EUR9.2m, compared to profit of EUR5.2m a year earlier. EBIT was EUR10.6m, versus EUR7.8m in the fourth quarter of 2012.
The increase in quarterly earnings came despite sales remaining flat at EUR360.6m. Lower sales and marketing costs helped Atria's profitability.
Over 2013 as a whole, Atria generated EBIT of EUR19.7m, against EUR30.2m in 2012. Without one-off costs, EBIT was EUR37m, Atria said. Net sales were up 5% at EUR1.41bn.
In 2014, Atria expects EBIT without "non-recurring costs" and net sales to be higher than 2013.
Canadean's "Atria Group Plc : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The profile contains a ...
Finnish food processing company Atria’s vision is to be a leading enterprise in meat processing and meal solutions, in both Finland and in the Baltic Sea region. In Swedish consumer foodservice, Atria...
Atria Suomi is a strong player in packaged food in Finland and is active in the supply packaged food through both the retail and foodservice channels. The company continues to focus on supplying high-...
During 2013, food trucks were introduced to the citizens of Stockholm. They came about through the approval by Stockholm’s local Traffic Administration Office for operators to present their own variat...
- Campbell Soup Co.'s M&A plans should avoid fresh
- Briefing: How is gluten-free faring in Europe?
- Happy Family CEO on baby and beyond
- BRICs and beyond: Kam Tai's Chinese growth story
- Mead Johnson wrestles "irrational" Chinese market
- Post, TreeHouse "in talks over ConAgra own-label"
- Lactalis surpasses Danone on dairy league table
- Mondelez Mexico investment to hit 600 US jobs
- Brownes Dairy owner Archer Capital "eyes sale"
- Lindt adds Hello Bites to US portfolio