Atria, the Finland-based food group, said today (20 January) it expects its net sales, once adjusted for exchange rates, to be level with 2018.
As late as October, when Atria booked its third-quarter results, the company was forecasting its net sales, at “comparative” exchange rates, to be higher in 2019 than in a year earlier.
“The reason for the lower net sales forecast is the slightly weaker sales in Finland and Russia during the end of the year,” Atria said today. “Despite the lower increase in net sales, the company does not change its EBIT guidance.”
Atria expects its EBIT to have grown in 2019 versus 2018, when it generated EUR28.2m (US$31.3m). 2018 saw Atria generate net sales of EUR1.44bn.
In 2018, Atria’s domestic market generated the majority of the company’s sales – standing at EUR1.02bn – through meat, poultry and convenience products.
In Russia, Atria made some EUR75.1m in net sales in 2018, around 5% of the company’s total sales. During the first nine months of 2019, Atria’s sales in Russia were down year-on-year but the company did see an increase in the third quarter versus the corresponding period of 2018.