Apetit Plc, inside information 18 October 2023, at 9:30 a.m.
Inside information, positive profit warning: Apetit upgrades its profit guidance for 2023 for operating profit from continuing operations
Apetit upgrades its profit guidance for 2023 for operating profit from continuing operations. Apetit expects the full-year operating profit from continuing operations to clearly improve year-on-year (EUR 3.5 million in 2022).
In Oilseed Products, raw material sourcing has been successful throughout the year. International crush margins have been at an elevated level during the entire calendar year, and stabilization of margins is not expected to happen during the remaining financial year.
In Food Solutions, the sales have developed favorably. The impact of inflation, which has limited profit development, has successfully been moderated. The harvesting season, which is a key profit driver for Food Solutions, has progressed in a way that limits the risk during the current financial year from previous estimate.
Upgraded profit guidance for 2023:
The full-year operating profit from continuing operations is expected to clearly improve year-on-year (EUR 3.5 million in 2022).
Previous profit guidance for 2023 (published 16 February 2023 and repeated 17 August 2023):
The full-year operating profit from continuing operations is expected to improve year-on-year (EUR 3.5 million in 2022).
Apetit Plc publishes its Business Review from 1 January–30 September 2023 on Thursday 26 October 2023. Due to the silent period, Apetit will not further comment its result before the publishing of Business Review.
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 and produce high-quality vegetable oils and rapeseed expellers for feeding stuff. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2022, Apetit Group's net sales were EUR 182 million.