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October 25, 2021

Finland’s Apetit issues profit warning as year-to-date sales decline

Sales, operating profit and EBITDA have all fallen year to date.

Finnish food firm Apetit has issued a profit warning as sales and other financial metrics fell in the first nine months of the year.

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The frozen vegetables and ready-meals maker said operating profit from continuing operations will be below last year’s EUR3.9m (US$4.5m), revising an estimate reiterated in August for an improvement over the previous 12 months. Apetit also supplies vegan pizza and burgers.

Helsinki-listed Apetit, which also has businesses in commodities, said in a statement: “Record-high freight costs and unfavourable sales commitments in relation to the grain harvest quality will weaken Grain Trade’s profit outlook for the last quarter of the year. The profit outlook for Oilseed Products for the last quarter of the year is weakened by exceptionally high raw material costs.”

Apetit also provided a trading update for the nine months ended in September. Year-to-date sales for its current fiscal year were down 4.7% at EUR211m. Operating profit declined 17.8% to EUR2.3m, while EBITDA dropped 4.3% to EUR7m.

In the company’s most recent third quarter, sales fell more sharply, down 10.5% at EUR64.5m. Operating profit decreased 4% to EUR2.6m and EBITDA declined 5% to EUR4.2m.

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The dynamics of B2B (Business to business) sales have rapidly changed over the last few years, especially during and post covid and will continue to do so. Some prominent shifts include, B2B organizations are switching to digital channels to drive customer engagement, more and more B2B organizations adopting to hybrid sales model and therefore programs such as sales intelligence are gaining traction.   As per recent sales enablement collective 2022 report, 95% of survey respondents have a dedicated  enablement team at their company, and 79% say enablement is a strategic part of their business This paper offers guidance as to what we at GlobalData think are important elements of any sales  intelligence program and KPIs to measure the success of such programs.   The white paper covers:
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  • Key elements of sales intelligence program
  • How can sales intelligence benefit sales & marketing?
  • What are the must-have KPI’s to measure the success of sales intelligence programs?
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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