Apetit Oyj - Company Announcement

Apetit lowers its estimate of operational EBIT for 2016

Apetit Plc, stock exchange release, 19 October 2016, 9.00 a.m.

NEW PROFIT GUIDANCE FOR 2016

The Group’s operational EBIT* for the full year is estimated to be positive but
to fall short of the comparison year’s level (2015: EUR 2.6 million). Due to
the seasonal nature of the Group’s operations, a high proportion of the annual
profit is accrued in the second half of the year. 

The new harvest season has clarified the Grain Trade segment’s outlook for the
remaining part of the year. Supply is plentiful, which is expected to keep the
price level and margins in international grain markets at a low level. 

The profitability of the Food Solutions segment has not improved as expected.
The outlook for the remainder of the year is weakened by lower-than-expected
volume of fresh product sales to the professional food service sector. 

The improved operating efficiency of the Seafood segment is estimated to
continue to support the improvement of the segment’s profitability in the
remaining part of 2016. 

The Oilseed Products segment’s outlook for the rest of 2016 is estimated to be
stable. 



PREVIOUS PROFIT GUIDANCE FOR 2016

In Finland, the market situation in the retail sector is expected to remain
challenging. The growth outlook of the Finnish economy is weak.  Prices on the
international grain market are anticipated to remain at a relatively low level
due to ample grain stores, at least during the first part of the new harvest
season. 

The Group’s full-year operational EBIT *) is expected to improve year-on-year
(2015: EUR 2.6 million). Due to the seasonal nature of the Group’s operations,
a high proportion of the annual profit is accrued in the second half of the
year. The improvement of the Seafood segment’s profitability supports the
improvement of the Group’s operational EBIT in the comparison period. 

Due to the significant effect of international grain market price fluctuations
on the entire Group’s net sales, Apetit will not issue any estimates of the
expected full-year net sales. 



*) Due to the new amendments to the regulations of the European Securities and
Markets Authority (ESMA), Apetit has replaced the key figure “operating profit
excluding non‑recurring items” with the key figure “operational EBIT” as of
2016. Operational EBIT does not include restructuring expenses, any significant
impairment on goodwill or other balance-sheet items or reversal of impairment,
the profit of the associated company Sucros or other extraordinary and material
items. 



Apetit will publish it’s January-September interim report on 3 November 2016 at
8:30 a.m. 



APETIT PLC



Juha Vanhainen
CEO



For more information: Eero Kinnunen, CFO, +358 10 402 00

Copies to: Nasdaq Helsinki, Main media, www.apetitgroup.fi