Finnish food group HKScan, which is in the middle of a restructuring programme, has reported lower first-quarter losses and improved underlying EBIT.

HKScan booked a net loss of EUR4.2m (US$5.5m) for the first quarter to the end of March, compared to EUR4.8m last year.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

On a reported basis, the meat products firm made an operating loss of EUR1.1m against EUR200,000 a year earlier.

However, the result included charges from the restructuring initiatives. Excluding those costs, EBIT was EUR2m.

Sales fell 0.9% to EUR590.8m amid higher revenues in Finland and the Baltics. Turnover in Sweden dropped after a “severe shortage” of beef raw material.

In Finland, where HKScan is looking to cut almost 300 jobs from a workforce of around 2,400, the company was hit by what it said was “illegal” strikes in the first quarter, which pushed its domestic operations into the red.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

The programme takes in HKScan’s operations in Finland, Sweden, Denmark and the Baltics. The company expects the initiatives, which include job cuts, to save it EUR20m a year.

Click here for the full statement.

Click here for our January interview with HKScan CEO Hannu Kottonen on the restructuring.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now