Profit warning: Apetit revises its estimate of operating profit for 2021 and provides preliminary information for the period January - September 2021
Apetit Plc, Inside information, 22 October 2021 at 17:35 p.m.
Profit warning: Apetit revises its estimate of operating profit for 2021 and provides preliminary information for the period January - September 2021
Apetit Plc revises its estimate of operating profit for 2021. The company estimates that the operating profit from continuing operations will be below year 2020 level (EUR 3.9 million in 2020).
Record-high freight costs and unfavorable sales commitments in relation to the grain harvest quality will weaken Grain Trade's profit outlook for the last quarter of the year. The profit outlook for Oilseed Products for the last quarter of the year is weakened by exceptionally high raw material costs.
Preliminary information July-September 2021 and January-September 2021
July–September 2021, continuing operations
- Net sales amounted to EUR 64.5 (72.1) million
- EBITDA was EUR 4.2 (4.0) million
- Operating profit was EUR 2.6 (2.5) million
January–September 2021, continuing operations
- Net sales amounted to EUR 200.9 (211.0) million
- EBITDA was EUR 7.0 (7.3) million
- Operating profit was EUR 2.3 (2.8) million
The revised profit guidance for 2021:
The full-year operating profit from continuing operations is expected to decrease from the previous year (EUR 3.9 million in 2020).
The previous profit guidance for 2021 (repeated August 20, 2021):
The full-year operating profit from continuing operations is expected to improve year-on-year (EUR 3.9 million in 2020).
Apetit Plc
For further information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Apetit is a food industry company firmly rooted in Finnish primary production. Our operations are based on a unique and sustainable value chain: we create well-being with vegetables by offering 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 Plc's shares are listed on Nasdaq Helsinki. In 2020, Apetit Group's net sales were EUR 293 million.
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