2015-04-28 07:00:00 CEST

2015-04-28 07:00:04 CEST


REGULATED INFORMATION

English Finnish
Atria Oyj - Interim report (Q1 and Q3)

Interim Report of Atria Plc 1 January - 31 March 2015


Atria Group's EBIT grew from the previous year

Seinäjoki, Finland, 2015-04-28 07:00 CEST (GLOBE NEWSWIRE) -- Atria Plc,
Interim Report, 28 April  2015  at 8.00 am 

INTERIM REPORT OF ATRIA PLC 1 JANUARY- 31 MARCH 2015

Atria Group's EBIT grew from the previous year

January-March 2015

- Consolidated net sales fell by 3.8% to EUR 314.5 million (EUR 327.0 million).
At comparable exchange rates, the decline was 0.7%. 
- Consolidated EBIT was EUR 0.7 million (EUR -2.5 million), 0.2% (-0.8%) of net
sales. 
- Atria initiated an investment of EUR 36 million in the modernisation of a pig
cutting plant in Nurmo, Finland. 
- The Swedish Competition Authority approved the sale of the Falbygdens cheese
business to Arla. The sale realized 1 April 2015 according to the contract. 

                                                              Q1     Q1         
                                                          --------------        
EUR million                                                 2015   2014     2014
--------------------------------------------------------------------------------
Group                                                      314.5  327.0  1,426.1
Net sales                                                                       
EBIT                                                         0.7   -2.5     40.6
EBIT, %                                                      0.2   -0.8      2.8
Profit before taxes                                         -1.6   -5.7     34.0
Earnings per share, EUR                                    -0.07  -0.19     0.93
Non-recurring items*                                         0.0   -0.8      1.0
Net sales by business area                                                      
Atria Finland                                              212.2  216.9    945.5
Atria Scandinavia                                           85.2   88.4    371.9
Atria Russia                                                15.8   21.3     98.8
Atria Baltic                                                 7.6    7.4     34.5
EBIT by business area                                                           
Atria Finland                                                1.9    0.2     33.6
Atria Scandinavia                                            1.9    0.9     14.9
Atria Russia                                                -2.3   -2.2     -5.7
Atria Baltic                                                -0.1   -0.2     -0.0
*Non-recurring items are included in the reported figures                       

January-March 2015

Atria Group's net sales for January-March amounted to EUR 314.5 million (EUR
327.0 million). Net sales fell by EUR 12.5 million year-on-year. This decline
was mostly attributable to the weakening of the rouble from the comparative
period. EBIT was EUR 0.7 million (EUR -2.5 million).  EBIT for the comparative
period included EUR 0.8 million non-recurring costs. 

Atria Finland made a decision to invest approximately EUR 36 million in
expanding and modernising its pig cutting plant in Nurmo, Finland. New
production facilities will be built next to the old plant, and the existing
production facilities will be renovated and automated using the latest
production technology. The new production facilities will measure around 4,500
square metres. 

The investment will substantially raise the pig cutting plant's productivity
and profitability: it is expected to generate annual cost savings of some EUR 8
million in the cutting plant's operations as a result of automation and the
reorganisation of production. The use of new technology will also improve the
conditions for quality and product safety in production. 

Investments during the period under review totalled EUR 9.5 million (EUR 37.5
million). The Group's free cash flow for the period (operating cash flow - cash
flow from investments) was EUR -9.6 million (EUR -23.5 million) and net
liabilities were EUR 263.1 million (31 December 2014: EUR 250.7 million). 

The Swedish Competition Authority approved on 11 March 2015 the sale of Atria
Scandinavia's Falbygdens cheese business to Arla. The sale price was
approximately EUR 34 million. According to the contract the divested operations
were consolidated into Arla Foods AB after the period under review, from 1
April 2015.  The transaction will reduce Atria's annual net sales by around EUR
52 million and EBIT by some EUR 3 million. 

Atria Finland's net sales for January-March totalled EUR 212.2 million (EUR
216.9 million), down by EUR 4.7 million year-on-year. This decline was due to
lower consumer demand and the sluggishness of the overall market. EBIT amounted
to EUR 1.9 million (EUR 0.2 million). This increase was attributable to
improved cost-efficiency. EBIT for the comparative period included EUR 0.8
million non-recurring costs. 

Atria Scandinavia's net sales for January-March amounted to EUR 85.2 million
(EUR 88.4 million). At comparable exchange rates, net sales grew by 1.1%
year-on-year. EBIT for January-March totalled EUR 1.9 million (EUR 0.9
million).  This increase was due to higher sales, stable prices and improved
production efficiency. 

Atria Russia's net sales for January-March amounted to EUR 15.8 million (EUR
21.3 million). At comparable exchange rates, net sales grew by 5.6%
year-on-year. In the local currency, the growth in net sales was due to price
increases. However, the increases were not sufficient to fully offset higher
raw material costs. EBIT was EUR -2.3 million (EUR -2.2 million). In the period
under review, the greatest challenge for business was the general economic
uncertainty in the market. 

Atria Baltic's net sales for January-March totalled EUR 7.6 million (EUR 7.4
million). EBIT was EUR -0.1 million (EUR -0.2 million). Atria strengthened its
market share in meat products in the retail sector. Oversupply in the European
meat market has led to record low meat prices. This reduced the profitability
of Atria's primary production and exports in Estonia. 

Key indicators                                               
EUR million                        31.3.15  31.3.14  31.12.14
-------------------------------------------------------------
Equity/share, EUR                    14.40    14.07     14.22
Interest-bearing liabilities         266.4    336.5     254.1
Equity ratio, %                       44.3     40.6      44.0
Gearing, %                            64.8     83.9      62.6
Net gearing, %                        64.0     81.3      61.8
Gross investments in fixed assets      9.5     37.5      62.7
Gross investments, % of net sales      3.0     11.5       4.4
Average FTE                          4,382    4,707     4,715


Outlook for the future

In 2014, consolidated EBIT without non-recurring items was EUR 39.6 million. In
2015, EBIT is projected to be at the same level and net sales are expected to
decrease. 

Board of Directors' proposal for profit distribution

The Board of Directors proposes that a dividend of EUR 0.40 be paid for each
share for the financial year 2014. 

Disclosure

Atria Plc complies with the disclosure procedure in accordance with standard
5.2b of the Financial Supervisory Authority and publishes its interim report
for 1 January to 31 December 2015 as an attachment to this stock exchange
release. The full release is available on the company's website at
www.atriagroup.com. 

For more information, please contact: Juha Gröhn, CEO, Atria Plc, tel. +358 400
684224. 

Invitation to press conference

A press conference will be held in Finnish today, 28 April  2015, at 10:00 am
at Finlandia Hall, in the Terassi room. Entrance is through door M4 or K4. 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