• Net profit reaches EUR3.1m
  • EBIT climbs to EUR3.2m
  • Net sales increase 6.4%
Looking ahead, Atria said it expects EBIT to be “higher” than in 2012

Looking ahead, Atria said it expects EBIT to be “higher” than in 2012

Finnish meat processor Atria has booked an increase in first-quarter earnings and upped its profit forecast for the full year.

In the three months to the end of March, net profit improved by EUR3.1m (US$4m) year-on-year to reach EUR3.2m, the company reported today (30 April).

EBIT reached EUR3.2m from EUR0.1m last year. The figure included a non-recurring profit of EUR1.1m resulting from a reversal of impairment on a property that had been for sale.

Net sales amounted to EUR328.4m, and increase of 6.4% on the prior year.

Looking ahead, Atria said it expects EBIT to be "higher" than the EUR30.2m recorded in 2012 and for "some growth" in sales.

Show the press release

Atria Group's net sales and EBIT improved

Seinäjoki, Finland, 2013-04-26 07:00 CEST (GLOBE NEWSWIRE) -- Atria Plc
Interim Report 26 April 2013 at 8.00 am

INTERIM REPORT OF ATRIA PLC 1 January-31 March 2013

Atria Group's net sales and EBIT improved

  • EBIT amounted to EUR 3.2 million (EUR 0.1 million).
  • Net sales amounted to EUR 328.4 million (EUR 308.6 million).
  • Atria Finland's EBIT was EUR 6.7 million (EUR 5.2 million).
  • Atria Scandinavia's EBIT was EUR 0.1 million (EUR 0.2 million).
  • Atria Russia's EBIT came to EUR -3.1 million (EUR -3.3 million).
  • Atria Baltic's EBIT was EUR -0.4 million (EUR -0.5 million).
  • The Group's equity ratio was 41.5 per cent (31 December 2012: 41.5 %)
EUR million 2013 Q1 2012 Q1 2012
Net sales 328.4 308.6 1,343.6
EBIT 3.2 0.1 30.2
EBIT, % 1.0 0.0 2.2
Profit before taxes 0.7 -3.0 18.9
Earnings per share, EUR -0.03 -0.19 0.35
Non-recurring items* 1.1 0.0 -0.5

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

Review 1 January-31 March 2013

Atria Group's net sales for January-March totalled EUR 328.4 million (EUR 308.6 million), showing growth of EUR 19.8 million year-on-year. EBIT improved by EUR 3.1 million year-on-year, amounting to EUR 3.2 million (EUR 0.1 million). 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. The property will be used in the company's own production.

Atria issued a EUR 50 million bond with fixed interest rate during the review period. The funds received will be 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 loan. The bonds are subject to public trade on the NASDAQ OMX Helsinki Ltd stock exchange.

The Group's free cash flow for the period (operating cash flow - cash flow from investments) was EUR -3.8 million (EUR -5.5 million), and net liabilities were EUR 372.1 million (EUR 411.6 million).

Atria Finland's net sales for January-March totalled EUR 205.1 million (EUR 188.5 million), up by EUR 16.6 million year-on-year. EBIT improved by EUR 1.5 million year-on-year, amounting to EUR 6.7 million (EUR 5.2 million). 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. The property will be used in the company's own production. Higher sale prices and slightly higher sales volumes also improved EBIT. The prices of meat raw materials continued to rise.

Atria Scandinavia's net sales for January-March totalled EUR 94.2 million (EUR 89.5 million), representing an increase of EUR 4.7 million year-on-year. In the local currency, net sales grew by 1.5 per cent year-on-year. EBIT amounted to EUR 0.1 million (EUR 0.2 million). The prices of meat raw materials have remained high, which impaired EBIT development.

Atria Russia's net sales for January-March amounted to EUR 27.4 million (EUR 28.3 million). In the local currency, net sales decreased by 1.0 per cent year-on-year. EBIT was EUR -3.1 million (EUR -3.3 million). The result for industrial operations improved, and efficiency improvement measures showed results. The weakening of primary production profitability, which started in the latter part of last year, continued to impair performance at the beginning of the year.

Atria Baltic's net sales for January-March totalled EUR 7.2 million (EUR 7.9 million), representing a fall of EUR 0.7 million year-on-year. EBIT was EUR -0.4 million (EUR -0.5 million), an improvement of EUR 0.1 million year-on-year.

Key indicators
EUR million
31.3.13 31.3.12 31.12.12
Shareholders´ equity per share EUR 15.24 14.94 15.15
Interest-bearing liabilities 379.7 420.0 370.5
Equity ratio, % 41.5 40.1 41.5
Gearing, % 87.4 98.8 85.9
Net gearing, % 85.7 96.8 84.3
Gross investments in fixed assets 8.8 11.0 56.2
% of net sales 2.7 3.6 4.2
Average FTE 4,670 4,991 4,898

Outlook for the future

The Group's EBIT was EUR 30.2 million in 2012. In 2013, it is expected to be higher. Some growth in net sales is expected for 2013.

Dividend distribution proposal

The Board of Directors proposes that a dividend of EUR 0.22 be paid for each share for the financial year 2012.

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 - 31 MARCH 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 26 April 2013 at 9:30 am at Finlandia Hall, in the Elissa room. Entrance is through door M3. 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
Juha Gröhn
CEO

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

Attachments:Atria Plc_Q1_2013_presentation.pdf Atria Plc_Interim Report_Q1_2013.pdf

Original source: Atria plc