Apetit updates its profit guidance to correspond the current continuing operations
Apetit Plc, Inside information on 21 April 2022 at 08:15 a.m.
Apetit updates its profit guidance to correspond the current continuing operations
Apetit Plc updates its profit guidance for 2022 to correspond the current continuing operations.
The updated profit guidance:
The full-year operating profit from continuing operations is expected to decrease year-on-year (EUR 5.8 million in 2021).
The previous profit guidance published on 17 February 2022:
The full-year operating profit from continuing operations is expected to improve year-on-year (EUR 2.8 million in 2021).
Apetit’s continuing operations are Food Solutions and Oilseed Products. In the company’s previous profit guidance published on 17 February 2022 Grain Trade was included in the continuing operations, but from the Business Review Q1/2022 onwards Grain Trade will be reported as a discontinued operation.
The transactions of Grain Trade’s Estonian company has been completed on 10 March 2022 and the Lithuanian company on 31 March 2022. It was also decided to close the Latvian company and the business has been shut down.
On 23 March 2022, Apetit has agreed to sell its Grain Trade business, including Finnish grain trade business as well as its grain stocks and port operations in Finland, to Berner Ltd. The sale is expected to be completed during Q2/2022.
Apetit will publish its Business Review for the first quarter of 2022 on Tuesday, 26 April 2022 at 8:30 a.m.
Apetit Plc
For further information, please contact:
Esa Mäki, CEO, Apetit Plc, 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 feedstuff, and trade grain on the international markets. Apetit Plc’s shares are listed on Nasdaq Helsinki. The Group’s net sales in 2021 were EUR 284 million. Read more: apetit.fi/en
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