Apetit’s segment structure and discontinuing the use of alternative performance measures

Apetit’s segment structure and discontinuing the use of alternative performance measures

Apetit Plc, Stock Exchange Release 12 June 2020 at 5.25 p.m.

Apetit Plc will expand its reporting and disclose segment-specific profitability figures also in its interim reports for the first and third quarters of the year. At the same time, the company will discontinue the use of alternative performance measures. The new reporting principles will be in effect starting from the company’s reporting for the first half of 2020. Apetit’s half-year financial report will be published on 21 August 2020.

In addition to the three current reporting segments (Food Solutions, Oilseed Products, Grain Trade), Apetit will report Group Functions, consisting of the expenses related to Group management, strategic projects and listing on the stock exchange that are not allocated to the three business segments. The result of Apetit’s associated company Sucros will continue to be reported below operating profit.

The comparison figures for 2019 and the first quarter of 2020 in accordance with the new reporting model are presented in this stock exchange release. The changes only affect the segment structure and other functions and they do not change Apetit Group’s reported result for 2019.

2019 2020
NET SALES, EUR million Q1 Q2 Q3 Q4 Q1–Q4 Q1
Food Solutions 16,7 13,3 13,3 15,7 58,9 16,7
Oilseed Products 16,1 16,4 17,0 15,6 65,0 17,1
Grain Trade 38,4 34,9 44,2 77,4 194,9 36,2
Group Functions 0,0 0,0 0,0 0,0 0,0 0,0
Eliminations -0,1 -0,1 -18,5 -3,3 -21,9 -4,9
CONTINUING OPERATIONS 71,0 64,5 56,0 105,4 296,9 65,2
DISCONTINUED OPERATIONS 5.4 5.1 5.2 0.0 15.7 0.0
GROUP, total 76.4 69.6 61.2 105.4 312.6 65.2
 

2019

2020
EBITDA, EUR million Q1 Q2 Q3 Q4 Q1–Q4 Q1
Food Solutions 1.4 -0.2 2.1 2.6 5.9 2.0
Oilseed Products 0.7 0.6 0.6 0.5 2.3 0.6
Grain Trade -0.2 -2.4 0.0 -2.2 -4.8 0.0
Group Functions -0.7 -0.5 -0.6 -0.9 -2.6 -0.9
CONTINUING OPERATIONS 1.2 -2.5 2.1 0.1 0.8 1.7
DISCONTINUED OPERATIONS -0.2 -0.1 2.7 -0.3 2.1 0.0
GROUP, total 1.0 -2.6 4.7 -0.2 2.9 1.7

 

2019

2020
OPERATING PROFIT, EUR million Q1 Q2 Q3 Q4 Q1–Q4 Q1
Food Solutions 0.9 -0.8 1.2 1.3 2.5 1.1
Oilseed Products 0.5 0.4 0.4 0.3 1.5 0.4
Grain Trade -0.5 -2.8 -0.6 -1.7 -5.6 -0.3
Group Functions -0.8 -0.6 -0.7 -1.0 -3.1 -1.1
CONTINUING OPERATIONS 0.0 -3.9 0.2 -1.1 -4.8 0.2
DISCONTINUED OPERATIONS -0.5 -0.5 2.6 -0.2 1.4 0.0
GROUP, total -0.6 -4.4 2.8 -1.3 -3.4 0.2

Apetit Plc

For further information, please contact:

Teemu Luovila, CFO, tel. +358 10 402 2114

Apetit is a food industry company firmly rooted in Finnish primary production. Our operations are based on a unique value chain: 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 Plc's shares are listed on Nasdaq Helsinki. In 2019, Apetit Group's net sales were EUR 313 million. Read more at apetit.fi.


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