CEO Esa Mäki: "Apetit Group’s operating result, excluding the impact of the bargain purchase of Foodhills, clearly declined year-on-year. In Food Solutions, full-year sales developed favourably year-on-year and both net sales and sales volumes increased. The result of Food Solutions was weakened by the lower than expected production volume due to a delay in autumn harvest season production and challenges during the frozen pea harvest season, as a result of which part of the cultivated area could not be harvested. The prolonged collective bargaining negotiations of the Finnish Food and Drink Industries’ Federation and the Finnish Food Workers' Union and the overtime and shift change bans and strike days concerning Food Solutions during the negotiations had a negative impact on the operations of the Group’s business operations in the first half of the year.  The operating result of Oilseed Products was weakened by the price of the raw material used and a decline in the sales of refined oils and the resulting unfavourable sales mix between different product categories. The overtime and shift change bans that burdened the first half of the year affected delivery reliability in both businesses. The decline in delivery reliability was reflected in Oilseed Products in part as lost seasonal sales.  In Food Solutions, the result for the fourth quarter was weakened by a delay in harvest season production due to production-related reasons. The delay in harvest season production has no significant negative impact on the business operations of Food Solutions after the reporting year, but the impact is limited to the operating result for 2025. Both net sales and sales volumes increased in the fourth quarter from the comparison period. Foodhills’ result for the period after the completion of the transaction was EUR -0.5 million. Foodhills’ operating result was particularly affected by changes in the valuation of inventories. Oilseed Products improved its result from the comparison period.  In late 2025, we announced our new strategy for 2026–2028. The focus of the strategy period, named Season of Growth, is on growth in the Swedish market, frozen peas and the commercial breakthrough of the BlackGrain from Yellow Fields rapeseed powder.  Apetit’s expertise fits perfectly with the special characteristics of Foodhills’ business. Significant investments have been made in Foodhills' production plant, which offers opportunities for the development of operations. The synergies behind the acquisition are clear in terms of both product expertise and operating models. The acquisition provides Apetit with an excellent platform for growth in Sweden.  Apetit invests in growth. Growth in the Swedish market requires investments and financial commitments, which is also reflected in the profit guidance. Apetit is well positioned to strengthen and grow its position in Sweden, and we also see significant potential in the higher volume of frozen peas in the European market. Making full use of the potential of the Bjuv plant is a key part of the growth path. As part of leveraging the potential, we are investigating opportunities to expand harvest season production to new plants in Bjuv. With the measures taken early in the strategy period, we are seeking a positive impact on result already late in the strategy period.  The measures and investments carried out in 2025 lay down a strong foundation for the new strategy period. Completing the Group’s ERP update on schedule and within budget in autumn 2025 was a significant achievement that laid down the foundation for joint operating methods and strengthened business intelligence. For BlackGrain, we have been building a success story already before the novel food authorisation in 2021. The potential of BlackGrain is significant and investments are still needed to leverage it. The investment of approximately EUR 2 million to support the commercialisation of BlackGrain at Kantvik’s vegetable oil mill will be completed in early 2026.   Taking care of the profitability of the core products of the business is an essential prerequisite for the company’s growth projects. In recent years, we have consolidated our position in important frozen product categories and, among other things, invested in vegetable oils in our own bottling line to increase the degree of processing. Profitability creates the prerequisites for growth.  One of the most impactful goals of our sustainability programme 2019–2025 was to reduce our own Scope 1&2 emissions by 75 per cent. Through significant investments in energy solutions and renewable energy sources in our production plants, we reduced emissions related to our own operations by as much as 80 per cent. As proof of our progress in sustainability work, we received the B rating in CDP’s climate change assessment and the B- rating in the assessment of water responsibility. The work to promote a sustainable food supply chain will continue in accordance with our updated strategy. In December 2025, we undertook to set short-term emission reduction targets in line with the Science Based Targets initiative (SBTi).  Food trends and recommendations support Apetit’s products excellently. We believe that our diverse and delicious product range will continue to meet the growing demand for plant-based and sustainable food. It is time for plant-based growth.  I would like to take this opportunity to warmly thank all Apetit employees for the year 2025 and the shareholders, customers, contract growers and other partners for their cooperation.”  Esa Mäki,   CEO 

Esa Mäki, CEO: "Apetit Group’s operating result for the third quarter fell short of the comparison period. Oilseed Products improved its result slightly, but Food Solutions’ operating result declined from the strong comparison period. In Food Solutions, the deterioration of the result was influenced by the challenging harvest season for frozen peas. Some of the pea fields had to be skipped during the harvesting phase. In accordance with the cultivation agreements, Apetit has compensated the farmers for the pea fields that were not harvested. The operating result of Food Solutions includes EUR -0.4 million of expert expenses related to the acquisition of Foodhills. The delivery reliability situation, which weakened Apetit’s result for the first half of the year, normalised in both businesses in June, after which delivery reliability has remained at a good level. The Group’s net sales increased slightly from the comparison period. On 9 October 2025, Apetit announced that it had signed an agreement to acquire 100 per cent of the share capital of Foodhills. Foodhills is Sweden’s largest contract grower and producer of frozen peas. The completion of the sale is subject to approval by the Swedish ISP authority. The acquisition of Foodhills is a growth project in line with our strategy. We will have a strong foundation in the Swedish market and significantly increase the volume of frozen peas. Apetit has strengthened its position in Sweden in recent years, and now it is time to take a significant step in the company’s internationalisation. The critical phases of the Group’s ERP project with regard to deployment have been completed as planned. In Oilseed Products, the implementation phase took place in early October. The strategically significant project was completed on schedule and within budget. I am proud of the achievements of our committed personnel in the project, which has lasted approximately three years in total. We have launched a strategic investment in Kantvik’s vegetable oil milling plant to improve the raw material production process for BlackGrain from Yellow Fields® rapeseed powder and to multiply its production capacity. The investment has largely progressed as planned and is expected to be completed during the first quarter of 2026. The yield levels of Finnish rapeseed sown in autumn have been excellent in some places. According to the harvest estimate published by Natural Resources Institute Finland on 22 September, the rapeseed harvest would increase by more than 60 per cent from last year and be the highest in eight years. The successful growing season of oilseed plants was also reflected in the variety tests of the RypsiRapsi forum, which saw exceptionally high yield levels for several varieties. The results of the variety tests provide a good basis for further tests and give confidence to Finnish oilseed plant growers, even though the exceptionally good growth conditions of the harvest season should be taken into account in assessing the results. The current year’s harvest outlook for field vegetables is moderate. Of Apetit’s contract farming crops, frozen peas had a challenging harvest season. The hottest period in measurement history and the subsequent regional heavy rainfall taxed crops. The number of field sections skipped in harvesting was higher than usual, which had a negative impact on the result. For root vegetables, the situation looks good halfway into the harvest season. We launched several new products during the autumn. In retail, we introduced a new flavour option to the Apetit Superior frozen pizza product family and expanded the offering to the popular wok product family. We also introduced a Finnish leek slice product, which was very well received in store ranges. We see a growing demand for products that make using vegetables easier and more diverse. Launched in the Food service channel, Apetit Kasvisjauhis Burgerpihvi vegan patty is an interesting new product, as it contains Apetit BlackGrain from Yellow Fields® rapeseed powder. Kasvisjauhis Burgerpihvi is also exceptional in its texture and taste, which is why we look forward to its market reception. The product is an excellent demonstration of BlackGrain’s potential and the innovation and product development expertise of both of Apetit’s businesses."

“Apetit Group’s operating result for the first half of the year declined year-on-year due to a weaker result in Oilseed Products. The prolonged collective bargaining negotiations between the Finnish Food and Drink Industries' Federation and the Finnish Food Workers’ Union caused challenges to both of Apetit's businesses during the first two quarters of the year. The overtime and shift change bans during the negotiations affected delivery reliability in both businesses. The strike days related to the negotiations also affected operations in Food Solutions. Food Solutions improved its result in the first half of the year. Both sales volumes and net sales have increased slightly year-on-year. In Oilseed Products, the decline in result was attributable not only to the price of the raw material used, but also to the decrease in sales of refined oil and challenges in delivery reliability. Apetit’s operating result in the second quarter declined from the comparison period. The delivery reliability situation normalised in both businesses in June. Net sales increased in both businesses in the second quarter year-on-year. In Food Solutions, also sales volumes increased. Retail sales developed positively due to the cool early summer being favourable to the sale of frozen products. In July, we announced an investment of approximately EUR 2 million in the Kantvik vegetable oil milling plant. The strategic investment improves the production process of the raw material for the BlackGrain from Yellow Fields® rapeseed powder. The investment in late 2025 will strongly support the commercialisation of BlackGrain. The investment will multiply BlackGrain’s raw material production capacity and significantly improve the quality and efficiency of the process. The total investment includes replacement investments in the milling plant’s current processes. The availability of raw materials has been one of the bottlenecks for increasing actual production. We will continue the practical development of BlackGrain’s various product applications. Thanks to its versatility, BlackGrain is suitable for a wide range of products in the food industry. Customer-oriented product application work is carried out for both BlackGrain rapeseed powder and TVP plant protein made from BlackGrain, which contains pea protein in addition to BlackGrain. At the same time, we are investigating alternatives for producing the BlackGrain rapeseed powder. Apetit is assessing potential partnerships and starting production by making an investment in the Kantvik vegetable oil milling plant or with purchased services. The strategically important ERP project has progressed according to schedule. The new ERP system is scheduled to be implemented in Oilseed Products by the end of the year, after which all Group operations will be covered by the new system. The outlook for the harvest season is currently moderate. In early summer, even the cool weather offered a promising start to the growing season, which benefitted spinach and pea in particular. However, the hottest period in the history of measurements in July weakened the harvest for frozen peas due to the rapid ripening of the harvest. Regional heavy rains taxed frozen pea crops in some places. Frozen peas are harvested on a record-large area of 2,000 hectares. The success of the harvest season is ultimately determined by the weather in the autumn and the harvesting conditions. The growing season of onion, which is Apetit’s contract farming crop for the first time, has largely gone according to expectations. Onion is a significant crop in Apetit’s product range and a strategic addition to the list of contract farming crops. The cultivation areas for Finnish oilseed plants grew strongly from the previous year. The growth season of spring-sown oilseed plants has largely progressed according to expectations and the harvest outlook is at an average level. There are regional differences in weather conditions and pest situation. The weather conditions early in the growing season were favourable for autumn oilseed plants, so oilseed plant fields shone exceptionally yellow in the early summer. The harvest outlook for autumn oilseed plants is good. We will continue to invest in Finnish cultivation development. Several variety trials are underway in the RypsiRapsi forum. Trials are underway in autumn oilseed plants with regard to sowing technology, among other things, and fertiliser and sowing method trials are underway in spring oilseed plants, both on a square and farm scale. The Räpi experimental farm, on the other hand, is running two projects related to different new plant protection methods. Development projects in Finnish cultivation lay down the conditions for the continuum of cultivation of plants significant to Apetit, especially in adapting to the changes brought about by climate change. The new national nutrition recommendations published in late 2024 and the importance of well-being and sustainability in food trends are reflected in the increased consumption of frozen vegetables in Finland. This phenomenon can be seen in frozen peas, for example. The increased popularity of legumes and the ease of using frozen vegetables combined with the uniqueness of Finnish frozen peas have increased the sales of Finnish frozen peas by more than one-third over five years. This the right direction, because adding more vegetables onto the plate is a good choice in every way." Esa Mäki, CEO