Apetit Oyj - Company Announcement

Profitability programme for Food Business’s fish products group goes forward

APETIT PLC              STOCK EXCHANGE RELEASE 8 October 2014, 10:00 A.M.

The long-term profitability programme affecting the fish products group of the
Apetit Group's Food Business is proceeding to the implementation stage. Under
the programme, the business practices and structures of the fish products
group's purchasing, order-delivery chain and sales will be revised in order to
achieve better profitability and sustainable competitiveness. The profitability
improvement measures are to be carried out in stages by the end of 2015. The
aim is to lower the annual operating expenses by approximately EUR 3 million. 

The profitability improvement measures will affect the operations of the entire
product group. The key measures to be implemented will be optimising the
product portfolio, re-evaluating the production structure, and establishing
clearer roles for production units. The organisational and operating models
will also be altered to support these measures. 

As a part of the implementation of the programme, co-determination negotiations
affecting the personnel in Finland will be commenced for financial and
production-related reasons and in order to reorganise operations. These will
affect 121 blue-collar and white-collar positions in the fish products group's
business locations in Kuopio, Helsinki, Kustavi and Turku. 

The negotiations will deal with improving the profitability of operations by
simplifying the production structure and centralising production at the units
in Kuopio and Helsinki. At the same time, Apetit plans to revise fish products
group's organisational structure and operating practises, and the white-collar
personnel's job descriptions to correspond with the fish products group's new
operating model. The changes are estimated to reduce the product group's
personnel need by 10-20 person-workyears. 

In addition to the profitability program in its fish product group, Apetit
continues to implement the long-term profitability programme also in its fresh
product group. The long-term profitability programmes launched this year are
expected to have a positive effect on the profitability of the Food Business as
of 2015. 




APETIT PLC


Veijo Meriläinen
CEO



FURTHER INFORMATION

Veijo Meriläinen, CEO, tel. +358 10 402 00

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