CEO’s statement Q3/2020

Esa Mäki, CEO: “Apetit Group’s positive profit performance continued in the third quarter: all of our businesses improved their profitability year-on-year. We can be satisfied with our profit performance to date. The remainder of the year involves uncertainties related to the COVID-19 pandemic, for example. We keep our profit guidance for 2020 unchanged: the full-year operating profit is expected to improve year-on-year and to show a profit. The impacts of the COVID-19 pandemic in the third quarter were mainly seen in the Food Service channel of the Food Solutions business, where net sales decreased year-on-year in spite of a partial recovery of sales. Sales grew year-on-year in the other channels of the Food Solutions business. In Oilseed Products and Grain Trade, the impacts of the COVID-19 pandemic were minor. In the challenging operating environment, it has been essential that our employees have stayed healthy and we have been able to maintain normal operations. I want to take this opportunity to express my warmest thanks to all of Apetit’s personnel. The harvest of outdoor-grown vegetables for this harvest season will be normal. The varying weather conditions in the early summer were challenging, with the cool spring, dry early summer and hot June having a negative impact on the growing season of peas in particular. The difficult growing season meant that we fell short of our target for peas by 1.3 million kilograms. Peas represent a significant share of Apetit’s food exports and, unlike in the previous year, pea exports fell entirely in the third quarter. One of Apetit’s strategic objectives is to strengthen food exports, particularly to Sweden. Our total food exports doubled year-on-year by the end of September. In the spring, eight products sold under the Apetit brand were added to the product selection of ICA, the largest retail chain in Sweden. Six new Apetit products were subsequently added to ICA’s selection this autumn. Continuing to strengthen our position in Sweden is a clear goal for us. In addition to retail, we are also seeking growth through the Food Service channel through local cooperation. Natural Resources Institute Finland estimates that the Finnish grain crop this year will be 3.4 million tonnes, which is about 15 per cent lower than last year. The relatively small grain crop will reduce Finland’s export surplus compared to the previous year. The oilseed harvest will be exceptionally low due to the declining area under cultivation and the low expectations of yield per hectare. However, the grain crop and oilseed harvest in the Baltic countries is excellent, which particularly compensates for the exceptionally weak oilseed harvest in Finland. At Apetit, we are continuing our systematic efforts to increase the willingness to cultivate oilseed plants in Finland to increase the area under cultivation and crop yields. The commissioning of the bioenergy plant under construction next to the Kantvik oil milling plant will be delayed to January–February 2021 due to reasons related to an equipment supplier. The bioenergy plant was originally scheduled to be commissioned at the end of 2020. When completed, the bioenergy plant will significantly reduce the energy costs of the Kantvik oil milling plant and the Group’s carbon dioxide emissions as a whole. Based on current information, the decision on the novel food marketing authorisation for Apetit’s rapeseed ingredient is expected before the end of the year. This autumn, we decided to invest in small-scale production equipment located on a subcontractor’s premises. Starting small-scale production will enable us to test the rapeseed ingredient more extensively with potential customers. Our work on developing new ingredients has progressed as planned. We are also continuing to assess alternatives related to the commercialisation of the rapeseed ingredient.     We are systematically executing our strategy with the aim of making Apetit a successful Finnish company focusing on plant-based food products.”

CEO’s statement H1/2020

Esa Mäki, CEO: “We achieved a positive turnaround in profits as all of the Group’s businesses improved their profitability in the second quarter: the operating profit of continuing operations improved by EUR 4 million year-on-year. In the Grain Trade business, the previous profitable quarter was in 2017. The positive profit performance of the Group was driven primarily by commercial successes in the domestic market as well as exports, the flexible adjustment of production in exceptional circumstances, the recovery of trading ability in the grain trade and improvements in efficiency in everything we do. The impacts of the COVID-19 pandemic vary between the Group’s businesses. In Food Solutions, sales in the retail segment remained at a high level in the second quarter, even if the uptick in demand levelled off compared to the early days of the exceptional circumstances. Food service sales saw a partial recovery in the early summer but were significantly below the reference period. The sudden change in the sales mix caused additional costs in production. In the Oilseed Products business, the demand for vegetable oils grew particularly in the retail segment. In the Grain Trade business, the impacts of the pandemic have been minor, aside from market fluctuations being slightly larger than usual. The COVID-19 pandemic has required extra effort in every stage of the food supply chain, but Finnish food production has proved its resilience and functionality even under exceptional circumstances. This has led to a marked increase in the visibility and appreciation of domestic food. I want to take this opportunity to thank our stakeholders and Apetit’s personnel for their flexibility and ability to work under challenging circumstances. The cultivation season got off to a slow start as the cold springtime weather delayed sowing and the start of the growing season. In June, the hot and dry conditions posed challenges, particularly for pea cultivation. The earliest pea varieties suffered from the hot and dry weather and the size of the total pea harvest will fall short of the targets. In general, the harvest of outdoor-grown vegetables is expected to be moderate. The area under cultivation of oilseed plants was at a record low and the domestic oilseed harvest is expected to be the worst in decades. The total harvest of domestic grains is likely to be substantially weaker than in the previous year. In the Baltic countries, the harvest outlook is good for grains as well as oilseed plants. The European Food Safety Authority (EFSA) issued a verdict in late July in favour of granting a novel food authorisation for Apetit’s rapeseed ingredient. This is an important step in the long process that developing an entirely new food product entails. The final decision on the novel food authorisation is expected at the beginning of 2021 at the latest. In May, Apetit published its new strategy for 2020–2022. The five strategic focus areas are Optimising core business functions, Strong foothold in Sweden, Growth from plant-based added value products, Developing farming partnerships and Sustainable actions. In accordance with the strategic focus areas, Apetit focuses on improving its performance in all of its operations, strengthening its market position in Sweden particularly in the food segment, pursuing growth from new plant-based added value products, developing and expanding farmer partnerships in all of the company’s businesses and continuously improving the sustainability of operations through practical actions. The turnaround in profitability that we have achieved puts us in a good position to implement our new strategy and accomplish the targets set in it. In line with our vision, we aim to make Apetit a successful Finnish company focusing on plant-based food products.”

Apetit Plc’s Business Review 1 January – 30 September 2018: Favourable deve...

Since 1 January 2018, Apetit has reported its first (Q1) and third (Q3) quarter results as Business Reviews. The Half-year Financial Report (Q2) and Financial Statements Bulletin (Q4) provide more extensive reporting and contain segment information. July–September 2018 Net sales amounted to EUR 76.6 (74.4) million Operational EBITDA was EUR 3.1 (3.0) million Operational EBIT was EUR 1.7 (1.6) million January–September 2018 Net sales amounted to EUR 209.1 (225.3) million Operational EBITDA was EUR 3.2 (4.2) million Operational EBIT was EUR -1.1 (0.1) million The information is unaudited. The figures in parentheses are the equivalent figures for continuing operations for the same period in 2017, and the comparison period means the corresponding period in the previous year, unless otherwise stated. Juha Vanhainen, CEO: “Apetit seeks to lead the way in vegetable-based diets. Renewal, one of our strategic focuses, means a continuous stream of new products that interest consumers. This autumn, Apetit again introduced several new, tasty products that enable consumers to increase their consumption of vegetables and make responsible choices. We brought Finnish fish cakes made from fish caught from a lake as part of fish-stock management to the frozen food sections of retail shops. A vegan version was added to our family of spinach soup products, and a new vegetable mince product was added to our pizza selection. We also included new products in our selection for kids and new vegetable mixes in our Tuorekset product family. The Group’s net sales increased slightly due to a significant increase in the world market prices of grains. The two most recent harvest seasons have been very exceptional, and the Finnish grain crop in 2018 will be the weakest since 2000. The hot and dry summer also had a negative effect on the Finnish vegetable harvest. Food Solutions’ result continued to develop favourably due to the increased sales of not only frozen foods, but also fresh products, as well as adjustment and efficiency measures. Oilseed Products’ result remained at the comparison period’s level. Grain Trade’s profitability decreased significantly from the comparison period, due to the second consecutive weak grain crop and its effects on trading opportunities. I’m very pleased with the fact that Food Solutions’ improved performance during this quarter offset the decrease in Grain Trade’s result. The Group’s strategic focus areas are renewal, efficiency improvement and international operations. Our work to improve profitability and create future growth, even outside Finland, continues within the Group.” KEY FIGURES EUR million 7-9 2018 7-9 2017 Change 1-9 2018 1-9 2017 Change 2017 CONTINUING OPERATIONS, KEY FIGURES Net sales 76.6 74.4 3% 209.1 225.3 -7% 311.8 Operational EBITDA 3.1 3.0   3.2 4.2   6.8 Operational EBIT 1.7 1.6   -1.1 0.1   1.3 Operating profit 1.5 1.6   -2.6 -0.1   1.1 Share of profit of associated company Sucros -0.1 0.1   -1.0 -0.4   1.0 Profit for the period 1.1 2.6   -3.4 0.5   2.9 Earnings per share, EUR 0.17 0.42   -0.55 0.09   0.46 Working capital, at end of period       49.1 39.5   30.0 Investment       2.6 3.7   5.2 GROUP, KEY FIGURES incl. discontinued operations during comparison period, Seafood Equity per share, EUR       16.73 17.75   18.10 Return on capital employed R12 (ROCE), %       0.5% 2.5%   2.4% Net cash flow from operating activities       -18.7 12.2   20.0 Equity ratio       63.6% 62,6%   72.6% Gearing       12.3% 8.8%   -9.6% FINANCIAL PERFORMANCE IN JULY–SEPTEMBER Comparable net sales increased by 3 per cent to EUR 76.6 (74.4) million. Food Solutions’ net sales increased in frozen foods and slightly in fresh products. Grain Trade’s net sales improved due to a significant increase in the world market prices of grains. Oilseed Products’ net sales remained at the comparison period’s level. Operational EBIT was EUR 1.7 (1.6) million. Food Solutions’ result improved as a result of good sales in frozen foods and fresh products, as well as adjustment and efficiency measures. Grain Trade’s profitability has decreased as a result of the weak crops of 2017 and 2018. Oilseed Products’ profitability remained at the comparison period’s level. In the comparison period, an item of EUR 1.3 million related to taxes recognised as a result of the divestment of the seafood business had a positive effect on the result. FINANCIAL PERFORMANCE IN JANUARY–SEPTEMBER Comparable net sales declined by 7 per cent to EUR 209.1 (225.3) million. Food Solutions’ net sales remained at the comparison period’s level. Sales increased in frozen foods and fresh products in all sales channels. Net sales from service sales decreased due to the reduction of the sales network. Grain Trade’s net sales decreased year-on-year. Oilseed Products’ net sales remained at the comparison period’s level. Operational EBIT was EUR -1.1 (0.1) million. Food Solutions and Oilseed Products improved their results slightly from the comparison period. In Grain Trade, profitability decreased significantly, mainly due to weak harvest seasons. The Group’s liquidity was good, and its financial position is strong. The equity ratio was 63.6 (62.6) per cent, and gearing was 12.3 (8.8) per cent. Consolidated cash flow from operating activities after interest and taxes amounted to EUR -18.7 (12.2) million in January–September, due to an increase in grain stocks and a significant increase in the world market prices of grains. SEASONALITY OF OPERATIONS In accordance with the IAS 2 standard, the historical cost of inventories includes a systematically allocated portion of the fixed production overheads. With production focusing on harvest time, raw materials are mainly processed into finished products during the third and fourth quarters of the year. This means that more fixed production overheads are recognised on the balance sheet in the third and fourth quarters than during the other quarters of the year. Due to this accounting practice, most of the Group’s annual profit is accrued in the third and fourth quarters. The seasonal nature of profit accumulation is most marked in the frozen foods group of the Food Solutions segment and in the associated company Sucros, where crop-season production focuses on the fourth quarter. PROFIT GUIDANCE FOR 2018 UNCHANGED The Group’s full-year operational EBIT from continuing operations is expected to decrease from the comparison period (2017: EUR 1.3 million). Due to the seasonal nature of the Group’s operations, most of the annual profit is accrued in the second half of the year. Sales volumes and the profit outlook for 2018 are burdened by the weak harvest of 2017 and the poor harvest outlook for 2018. Apetit Plc For further information, please contact: Juha Vanhainen, CEO, tel. +358 10 402 00 Attachment: Apetit Plc business review 1 january-30 september 2018   Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. We create well-being with vegetables by offering healthy and tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and rapeseed expellers for feeding stuff, and trade grain on the international markets. Apetit seeks to lead the way in vegetable-based food solutions. Apetit Plc’s shares are listed on Nasdaq Helsinki. In 2017, the company’s net sales were EUR 312 million and it had an average 557 employees. Read more at www.apetitgroup.fi.

Apetit Plc’s Financial Statements and Corporate Governance Statement ...

The published reports contain the Board of Directors’ report, the consolidated and parent company financial statements, the auditor’s report, the statement by the Supervisory Board, Apetit Plc’s Corporate Governance Statement as well as Annual and Corporate Responsibility Report. Download here: Apetit 2017 For further information, please contact: Sanna Väisänen, Director, Communications and IR, tel. +358 10 402 4041

Apetit Half-Year Financial Report 1 January–30 June 2018: A weak harvest lo...

This release is a summary of Apetit’s Half-Year Financial Report for the January-June period of 2018. The complete report is attached to this release as a pdf file and it is also available on the company’s website at apetitgroup.fi/for-investors. April–June, continuing operations* Net sales from continuing operations were EUR 72.8 (76.8) million Operational EBITDA was EUR 0.1 (0.8) million Operational EBIT was EUR -1.4 (-0.5) million January–June, continuing operations* Net sales from continuing operations were EUR 132.5 (150.8) million Operational EBITDA was EUR 0.1 (1.2) million Operational EBIT was EUR -2.8 (-1.5) million Key events during the period Apetit invests EUR 9.7 million in a new patty and ball production line in Säkylä. Apetit invests EUR 3.7 million in the construction of a bioenergy plant in conjunction with the Avena Kantvik Oy rapeseed oil milling plant in Kirkkonummi. Avena Nordic Grain Oy and Viljelijän Berner joined their purchasing and sales organisations in production input and grain trade under a new operating model based on partnership. Apetit Vegepops Porkkana-mango was chosen as the Finnish Food of the Year 2018 *Continuing operations include Food Solutions, Oilseed Products and the Grain Trade.   The information has not been audited. The figures in parentheses are the equivalent figures for the same period in 2017, and the comparison period means the corresponding period in the previous year, unless otherwise stated.   REVISED (3 August 2018) PROFIT GUIDANCE FOR 2018 The Group’s full-year operational EBIT from continuing operations is expected to fall short of the 2017 level (2017: EUR 1.3 million). Due to the seasonal nature of the Group’s operations, most of the annual profit is accrued in the second half of the year. Sales volumes and the profit outlook for 2018 are burdened by the weak harvest of 2017 and the poor harvest outlook of the current year. Juha Vanhainen, CEO: “Apetit has continued with the measures of the strategy announced in March 2018 in its focus areas, which are internationalisation, renewal and efficiency improvement. These measures reinforce Apetit’s position as number one in vegetables and help in building a foundation for the further development of the business. In June, we announced that we invest nearly EUR 10 million in a new patty and ball production line at our Säkylä plant. The new line will double our production capacity, meet current demand and enable us to produce new products for the Finnish and international markets. As a part of the project to improve efficiency, Apetit is building a bioenergy plant in conjunction with the Avena Kantvik Oy rapeseed oil milling plant in Kirkkonummi. The bioenergy plant will replace the current energy solution that uses non-renewable fuels and will significantly reduce the carbon dioxide emissions of the entire Group. Apetit participated in the share issue of the food business development company Foodwest which took place in May-June. Apetit’s holding in the company will promote our strategic goals to focus on product development and to renew and lead the way in vegetable-based diets. One result of the work we have done to date is the nomination of Apetit Vegepops Porkkana-mango as the Finnish Food of the Year 2018 in May. We also continued work on a project to develop a rapeseed ingredient in order to develop a new ingredient with high nutritional content for the international food market. The goals of renewal and continuous development of operations took concrete form when Apetit’s subsidiary Avena Nordic Grain Oy and Viljelijän Berner joined their purchasing and sales organisations in production input and grain trade under a new operating model based on partnership. Business will be conducted under the name Viljelijän Avena Berner and it will offer Finnish farmers a one-stop-shop for production input and grain trade services. Increasing the share of food sales abroad has proceeded according to plan. At the end of August Apetit will launch a new selection for the Swedish market called Free From which includes five patty and ball products. In Russia we are continuing work on reinforcing our position through local food product chains. As expected, the aftermath of the weak harvest of 2017 continued in the first half of 2018 and substantially lowered grain trade volumes and consolidated net sales on the comparison period. The shrinking of the Sales Services network had a negative impact on the net sales of Food Solutions.  Oilseed Products’ performance remained stable as volumes slightly grew on the comparison period. The low price of sugar on the global market led to a weaker result for the associated company Sucros. During the spring Apetit has carried out adjustment measures to improve profitability, including personnel reductions and other cost saving measures. Their combined impact in 2018 will be EUR 1.0 million and the annual total impact will be EUR 1.8 million. It is likely that the 2018 harvest season will also be significantly worse than average, as was the 2017 season, which will have a negative impact on the Group’s profit-earning capacity in the second half of the year. The Finnish grain harvest is estimated to be the weakest of the 21st century, which will limit trade opportunities especially in exports. The harvest of field vegetables is also likely to be lower than usual.”   KEY FIGURES EUR million 4-6 2018 4-6 2017 Change 1-6 2018 1-6 2017 Change 2017 Continuing operations               Net sales 72.8 76.8 -5% 132.5 150.8   -12% 311.8 Operational EBITDA 0.1 0.8   0.1 1.2   6.8 Operational EBIT -1.4 -0.5   -2.8 -1.5   1.3 Operating profit -2.7 -0.7   -4.1 -1.7   1.1 Share of profit of associated company Sucros -0.4 0.2   -0.9 -0.5   1.0 Profit for the period -2.8 -0.5   -4.5 -2.0   2.9 Earnings per share, EUR -0.45 -0.08   -0.72 -0.32   0.46 Working capital, at end of period       28.5 25.3   30.0 Investment       1.8 2.5   5.2 Group (incl. discontinued operations during comparison period)               Earnings per share, EUR -0.45 -0.27   -0.72 -0.56   -0.10 Equity per share, EUR       16.75 17.58   18.10 Return on capital employed (ROCE), %       0.9% 1.9%   2.4% Net cash flow from operating activities       -0.1 23.1   20.0 Equity ratio       76.1% 71.1%   72.6% Gearing       -4.7% -1.5%   -9.6%   NEWS CONFERENCE AND WEBCAST A news conference (in Finnish) will be held today at 10:00 a.m. at Apetit’s office, Sörnäistenkatu 1 A, Helsinki. A live webcast of the news conference can be followed via apetitgroup.fi/for-investors. The presentation material and a recording of the webcast will be available after the news conference on the company’s website. Apetit Plc Half-Year Financial Report 1 January - 30 June 2018   Apetit Plc For further information, please contact: Juha Vanhainen, CEO, Apetit Plc, tel. +358 10 402 2100 Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. We create well-being with vegetables by offering healthy and tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and rapeseed expellers for feeding stuff, and trade grain on the international markets. Apetit seeks to lead the way in vegetable-based food solutions. Apetit Plc’s shares are listed on Nasdaq Helsinki. In 2017, the company’s net sales were EUR 312 million and it had approximately 640 employees. Read more at apetitgroup.fi.

Apetit further specifies its strategic goals – its focus areas are renewal,...

Its focus areas are renewal, internationalisation and efficiency improvement. Apetit seeks to lead the way in vegetable-based food solutions and be the best-known brand specialising in vegetable-based diets in Finland. According to studies, consumers want to increase their use of vegetables, and the demand for vegetable-based proteins continues to grow strongly. Healthiness, sustainability, organic foods and well-being are also continuing to grow as trends. In addition, consumers appreciate ease of use in their hectic lives. “The trends in eating firmly support Apetit and our chosen strategy. We are continuing the work that we started in the previous strategy period to strengthen our position as the leader in vegetable-based food solutions. Thanks to our hard work, bold strategic choices and continuous renewal, Apetit is now number one in its field,” says Juha Vanhainen, CEO of Apetit. “With the vegetable trend continuing to grow, we have systematically increased our investment in research and development, which is reflected in the significant increase in the number of new products, as well as our determined expansion into new product groups. International food trade has also increased. In the strategy work that we have now completed, we have shifted our focus towards younger target groups, and we will launch new products that meet their needs and wishes.” To increase the use of vegetables among consumers, Apetit has launched the Kasvimaani.fi online service and the Njam mobile app for recipe recommendations. The company has also renewed its Avenakauppa.fi online service for growers. “We have now taken the first steps in digital services and the international food trade. Our goal is for these measures to significantly support the development of Apetit’s business operations over the long term,” says Vanhainen. Apetit’s strategic focus areas for 2018–2020 Apetit is focusing on continuous renewal by increasing product and service development and on stronger internationalisation by increasing international food trade and mapping potential areas of supply in grain trade while strengthening its presence in the Baltics as well as on efficiency improvement in all of its business operations. Apetit’s financial targets for 2020: At least to double operational EBITDA (2017: EUR 6.8 million in continuing operations) Operational return on capital employed (ROCE%) > 8% (2017: 2.4%) The achievement of these strategic targets is based on customary crop development, systematic operational efficiency improvement, innovative and timely product launches and the development of international food trade. The company is open to corporate transactions that are in line with its strategy. Updated dividend policy The aim of the Board of Directors of Apetit Plc is that the company’s shares should provide shareholders with a good return on investment and retain their value. The company will distribute at least 50% of the profit for the financial year in dividends. Strategic focuses of the business areas for 2018–2020: The Food Solutions business seeks to grow profitably and more rapidly than the market in Finland. Its strategic focus areas are: The strong renewal of frozen foods and fresh products and the development of spearhead products for the international markets Supporting and increasing the consumption of vegetables among children and young people A clear improvement in profitability A sustainable value chain as a stronger competitive factor The Oilseed Products business seeks to improve profitability and create higher added value. Its strategic focus areas are: Improving the efficiency of oil milling operations Further developing the cultivation of rapeseed in Finland New innovations and their rapid commercialisation Developing self-sufficiency in vegetable-based proteins in Finland The Grain Trade business seeks to increase its trading volumes in its main areas of supply and to efficiently manage its working capital. Its strategic focus areas are: Increasing its market share in the area of supply consisting of the Baltic countries Creating strong value chain partnerships in Finland Developing the most highly advanced digital services that support logistics and the grain trade Studying potential areas of supply   Apetit Plc Juha Vanhainen     Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. We create well-being with vegetables by offering healthy and tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and expeller meal from rapeseed, and trade grain on the international markets. Apetit seeks to lead the way in vegetable-based food solutions. Apetit Plc’s shares are listed on Nasdaq Helsinki. In 2017, the company’s net sales were EUR 314 million and it had 557 employees. Read more at apetitgroup.fi.

Apetit Plc’s Financial Statements Bulletin 1 January – 31 December 2017

October–December, continuing operations • Net sales from continuing operations were EUR 87.1 (80.4) million • Operational EBITDA was EUR 2.7 (2.0) million • Operational EBIT was EUR 1.2 (0.6) million • The profit for the period was EUR 2.3 (1.9) million, and earnings per share amounted to EUR 0.38 (0.31) January–December, continuing operations • Net sales from continuing operations were EUR 314.0 (312.0) million • Operational EBITDA was EUR 6.8 (5.8) million • Operational EBIT was EUR 1.3 (0.8) million • Profit for the period came to EUR 2.9 (2.0) million, and earnings per share amounted to EUR 0.46 (0.33) October–December, the Group, including discontinued operations* • Consolidated net sales amounted to EUR 91.6 (100.1) million • Operational EBIT was EUR 1.3 (1.6) million • Profit for the period came to EUR 2.4 (2.4) million, and earnings per share amounted to EUR 0.38 (0.38). January–December, the Group, including discontinued operations* • Consolidated net sales amounted to EUR 368.1 (386.5) million • Operational EBIT was EUR 1.7 (0.9) million • Profit for the period came to EUR -0.6 (1.2) million, and earnings per share amounted to EUR -0.10 (0.19) The Board of Directors will propose to the Annual General Meeting that a dividend of EUR 0.70 per share be paid. * Discontinued operations: On 29 June 2017, Apetit Plc signed an agreement on selling its seafood business to the Norwegian Insula AS. The transaction was completed on 31 October 2017. In this financial statements bulletin, the transferred business is reported as a discontinued operation. Consolidated net sales and profit for 2017 include the seafood business from January to October. The figures for 2017 and 2016 are audited. The quarterly figures are unaudited. The figures in parentheses are the equivalent figures for the same period in 2016, and the comparison period means the corresponding period in the previous year, unless otherwise stated. Juha Vanhainen, CEO: “In 2017, Apetit established its position as the leading Finnish brand in vegetable-based food solutions. Its improved awareness is supported by the fact that the company introduced new products at a record pace and expanded into new product groups. Sales of existing products also increased. In 2017, the weather remained cool throughout the growing season. The end of the growing season was marked by exceptionally heavy rain, which delayed and hindered the harvesting of grains, oilseeds and root vegetables. The oilseed harvest in Finland was markedly smaller than in the previous year. The challenges of the harvest season also reduced grain trade export volumes significantly. The availability of Finnish field vegetables has been limited to some extent. As a result of this, it has been necessary to replace Finnish field vegetables with more expensive imported vegetables or limit the production of certain products, particularly products containing Finnish carrots. Despite the difficult harvest season, Apetit was able to improve its operational EBIT and net sales in continuing operations. The turnaround in the Food Solutions business was particularly pleasing. It was supported mainly by the increased sales of frozen and fresh products. Exports also increased in comparison with the previous year, with growth in the total exports of Food Solutions. In December, Apetit announced that it would start exporting to Russia and deliver various frozen products to the St Petersburg region. The successful work to improve the efficiency of working capital management continued in 2017. The Group’s working capital tied up in operations decreased by EUR 22.5 million during the financial year. As a result of the more efficient management of working capital and the divestment of the seafood business, the Group was debt-free at the end of the year. Its balance sheet structure creates favourable conditions for investments and potential business arrangements that are in line with its strategy. Apetit’s strategy to specialise and lead the way in vegetable-based food solutions is also supported by the divestment of its fish processing business. The business was sold to Insula AS in Finland, Norway and Sweden. The transaction was completed at the end of October. In 2018, we will continue to invest in sales and product development in line with our strategy. The prevailing food trends support our goals: consumers are increasingly appreciating well-being, good taste and ease of use. High vegetable content, organic products and Finnish origin are also primary considerations when consumers are making purchasing decisions.” KEY FIGURES EUR million 10-12 2017 10-12 2016 Change 1-12 2017 1-12 2016 Change Continuing operations             Net sales 87.1 80.4 8 % 314.0 312.0   1 % Operational EBITDA 2.7 2,0   6.8 5,8   Operational EBIT 1.2 0.6   1.3 0.8   Operating profit 1.2 0.6   1.1 0.8   Share of profit of associated company Sucros 1.4 1.5   1.0 0.7   Profit for the period 2.3 1.9   2.9 2.0   Earnings per share, EUR 0.38 0.31   0.46 0.33   Working capital, at the end of the year       30.0 52,9   Group (including discontinued operations)             Net sales 91.6 100.1 -8 % 368.1 386.5 -5 % Operational EBIT 1.3 1.6   1.7 0.9   Operating profit 1.2 1.2   -2.5 0.6   Profit for the period 2.4 2.4   -0.6 1.2   Earnings per share, EUR 0.38 0.38   -0.10 0.19   Equity per share, EUR       18.10 19.00   Operational return on capital employed (ROCE), %       2.4 % 1.2 %   Net cash flow from operating activities       20.0 21.9   Equity ratio       72.6 % 64.1 %   Gearing       -9.6 % 12.4 %   Investments       5.9 9.7   PROFIT GUIDANCE FOR 2018 The Group’s full-year operational EBIT from continuing operations is expected to improve year-on-year (EUR 1.3 million in 2017). Due to the seasonal nature of the Group’s operations, most of the annual profit is accrued in the second half of the year. Sales volumes and the profit outlook for early 2018 are burdened by the weak harvest of 2017. BOARD OF DIRECTORS’ DIVIDEND PROPOSAL On 31 December 2017, the parent company’s distributable funds totalled EUR 62,596,445.91, of which EUR 838,688.75 is profit for the financial year. The Board of Directors will propose to the Annual General Meeting that a dividend of EUR 0.70 per share be paid. The Board of Directors will propose that a total of EUR 4,344,305.00 be distributed in dividends and that EUR 58,252,140.91 be left in equity. No significant changes have taken place in the financial standing of the company since the end of the financial year. The company’s liquidity is good, and the Board deems that the company’s solvency will not be jeopardised by the proposed distribution of dividends. No dividend will be paid on shares held by the company. ANNUAL GENERAL MEETING The Annual General Meeting will be held in Säkylä on Tuesday 27 March 2018. PUBLISHING OF THE ANNUAL REPORT Apetit Plc’s Annual Report for 2017 – including the Board of Directors’ report, the financial statements for 2017, a corporate responsibility report and a separate statement on Apetit Plc’s corporate governance – will be published in the week beginning 5 March 2018 on the company’s website at www.apetitgroup.fi. INVITATION TO A BRIEFING A briefing (in Finnish) for analysts and media will be held today at 10:00 a.m. in Hotel Scandic Simonkenttä, meeting room Espa (address: Simonkatu 9, Helsinki). In the briefing CEO Juha Vanhainen presents Financial Statements Bulletin. The presentation material will be also published on company web pages after the event.   Apetit Plc Juha Vanhainen   For further information, please contact: Juha Vanhainen, CEO, tel. +358 10 402 00   Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. We create well-being with vegetables by offering healthy and tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and expeller meal from rapeseed, and trade grain on the international markets. Apetit seeks to lead the way in vegetable-based food solutions. Apetit Plc’s shares are listed on Nasdaq Helsinki. In 2017, the company’s net sales were EUR 314 million and it had 557 employees. Read more at apetitgroup.fi.   Apetit Plc Financial Statements Bulletin 1 January - 31 December 2017 Presentation

Apetit builds bioenergy plant in conjunction with its rapeseed oil milling ...

On 7 June 2018 Apetit announced that it plans to build bioenergy plant. “We are clad to be able to invest in development of our strategic businesses and the use of renewable energy. The new bioenergy plant will increase energy self-sufficiency of the plant and use of production side streams as energy source,” says CEO Juha Vanhainen. The bioenergy plant will replace the current energy solution that uses non-renewable fuels and significantly reduce the carbon dioxide emissions of the entire Group. The value of the investment is about EUR 3.7 million. The project is conditional for an environmental permit.     For further information, please contact: Juha Vanhainen, CEO, Apetit Plc, tel. +358 10 402 00 Sanna Väisänen, Director, Communications and Investor Relations, Apetit Plc, tel. +358 10 4024041

New patty and ball production line to the Säkylä plant

Apetit invested approximately EUR 10 million in a new production line for vegetable and fish-based products in Säkylä. The new line doubles production capacity for patties and balls while improving energy efficiency. The technology used in the line also improves product safety and, for example, allergen management. Vegetable and fish-based patties and balls have been among Apetit’s fastest-growing product groups for the past few years. The prospects for continued growth are bright, supported by strong growth in consumer demand, Apetit’s product development efforts and new openings in international trade. The new production line enables more versatile product development with regard to product shapes, the raw material base, new flavours and the production of entirely new types of vegetable-based products. It also facilitates better customisation for different markets.

Apetit plans to build bioenergy plant in conjunction with its rapeseed oil ...

Apetit is planning to build a bioenergy plant in conjunction with the Avena Kantvik Oy rapeseed oil milling plant in Kirkkonummi, Finland. The planned bioenergy plant would replace the current energy solution that uses non-renewable fuels and would significantly reduce the carbon dioxide emissions of the entire Group. “In addition to reducing carbon dioxide emissions, the bioenergy plant would also significantly lower Apetit’s current energy costs as oil milling is the Group’s most energy-intensive production process,” says CEO Juha Vanhainen. The value of the investment would be about EUR 3.7 million. The plant’s planned heat output is 4.5 MW, which would cover the energy needs of own production. A secondary boiler would also be built at the same time, to enable the use of natural gas. The bioenergy plant’s primary fuels would be forest chips and recycled wood and other fibre waste from forests and fields in the area. Apetit would also be able to use vegetable oil production side streams, such as rapeseed screenings, vegetable oil sludge and, when possible, the bentonite clay used in the rapeseed oil bleaching process, in its energy production. “The bioenergy plant would enable Apetit to utilise its production side streams. The plant’s energy self-sufficiency would increase and it would no longer be dependent on other users of its side streams. The key goal is for the bioenergy plant to be part of the plant’s circular economy and resource-smart use of raw materials,” says Vanhainen. Apetit will apply for the Ministry of Economic Affairs and Employment of Finland’s investment aid that is granted for projects based on renewable energy and will also submit an environmental permit application. Apetit will decide on the investment if both applications are accepted.