LÄNNEN TEHTAAT plc, Stock Exchange Release, 5 March 2013 at 9.30
LÄNNEN TEHTAAT plc, Stock Exchange Release, 5 March 2013 at 9.30
Lännen Tehtaat plc’s Annual Report 2012 is published today. The Annual Report
contains the Board of Directors’ report, the parent company financial
statements and consolidated financial statements, the auditor’s report, the
statement by the Supervisory Board and Lännen Tehtaat plc’s Corporate
Governance Statement 2012.
The Annual Report and the Corporate Governance Statement can be read on the
company’s website at www.lannen.fi/en/investor_information.
The Annual Report (in Finnish) will be mailed during the week beginning 11
March, to those who have ordered it via company’s website www.lannen.fi/en/.
LÄNNEN TEHTAAT plc
Susanna Sieppi
Communications Manager
Further information: Susanna Sieppi, tel. +358 10 402 4041
LÄNNEN TEHTAAT plc, invitation to the Annual General Meeting, 5 March 2013 at
9.00
Annual General Meeting to be held on 26 March 2013 at 14.00
LÄNNEN TEHTAAT plc, invitation to the Annual General Meeting, 5 March 2013 at 9.00
The company’s shareholders are hereby invited to the Annual General Meeting,
which will be held on Tuesday 26 March 2013 at 14.00 in Lännen Tehtaat plc’s
‘Myllynkivi’ staff restaurant at Iso-Vimma, Säkylä. Reception of those who have
registered for the meeting and the distribution of voting tickets will commence
at 12.00 noon.
A. The following items will be dealt with at the meeting:
1. Opening of the meeting
2. Election of chairman for the meeting
3. Election of secretary for the meeting
4. Declaring the meeting legal and quorate
5. Appointment of persons to inspect the minutes and to count the votes
6. Order of business and addressing the meeting
7. Declaring attendance and the voting list
8. Presentation of the financial statements for 2012
9. Presentation of the auditor’s report
10. Presentation of the Supervisory Board’s statement based on the financial
statements, Board of Directors’ report and auditor’s report
11. Adoption of the financial statements and consolidated financial statements
12. Distribution of the profits shown on the balance sheet and resolution on
the payment of dividends
The Board of Directors proposes that a dividend of EUR 0.90 per share be paid
for the financial year 2012 on the basis of the adopted balance sheet. The
dividend will be paid to shareholders who are registered in the company’s
shareholder register kept by Euroclear Finland Ltd on 2 April 2013, which is
the record date for the dividend payment. The Board of Directors will propose
to the Annual General Meeting that the dividend be paid on 9 April 2013.
13. Resolution on discharging the members of the Supervisory Board and of the
Board of Directors and the CEO from liability
14. Amending the company’s Articles of Association
The Board of Directors will propose that article 1 of the company’s Articles of
Association be amended as follows:
Current article 1:
§1 Company name and domicile
The name of the company is Lännen Tehtaat Oyj, in Swedish Lännen Tehtaat Abp
and in English Lännen Tehtaat plc. The company’s domicile is Säkylä.
Proposed new article 1:
§1 Company name and domicile
The name of the company is Apetit Oyj, in Swedish Apetit Abp and in English
Apetit Plc. The company’s domicile is Säkylä.
15. Resolution on the number of members of the Supervisory Board and their
remuneration
16. Election of the members of the Supervisory Board
17. Appointment of two members to the Supervisory Board’s Nomination Committee
18. Resolution on the number of auditors and their remuneration
The Board of Directors proposes that two regular auditors be appointed for the
company. The Board of Directors also proposes that the auditors’ fee be paid in
accordance with the auditing invoice approved by the company.
19. Appointment of auditors
The Board of Directors proposes that the company’s present auditors, Hannu
Pellinen, APA, and PricewaterhouseCoopers Oy Authorised Public Accountants,
with Tomi Moisio, APA, CPFA as the auditor with principal responsibility, be
re-appointed as auditors for the period up to the end of the next Annual
General Meeting.
20. Closing of the meeting
B. Documents of the General Meeting
The proposed resolutions of the Board of Directors and the invitation to the
meeting are available on Lännen Tehtaat’s website at www.lannen.fi/en. The
company’s financial statements will be available on the above-mentioned website
as of 5 March 2013 at the latest. Copies of these documents will be sent to
shareholders upon request and they will also be available at the Annual General
Meeting. The minutes of the Annual General Meeting will be available on the
above-mentioned website as of 9 April 2013.
C. Instructions for persons attending the Annual General Meeting
Right to attend and registration
Shareholders who, on 14 March 2013, are registered in the company’s register of
shareholders kept by Euroclear Finland Ltd shall have the right to attend the
Annual General Meeting.
Shareholders wishing to attend the Annual General Meeting must notify the
company of this no later than 16.00 on Thursday 21 March 2013 either through
our website (www.lannen.fi/en), in writing (Lännen Tehtaat plc, PO Box 100,
FI-27801 Säkylä), by fax (+358 10 402 4023), by phone (+358 10 402 4044/Maija
Lipasti) or by e-mail (). If notice is given by letter,
this must arrive before the expiry of the notification period. Any proxy
documents should be delivered to the above-mentioned address before the expiry
of the notification period.
Pursuant to chapter 5, section 25 of the Limited Liability Companies Act,
shareholders who are present at the Annual General Meeting have the right to
request information on matters considered at the meeting.
Proxies and proxy documents
Shareholders may participate in and exercise their rights at the Annual General
Meeting by means of proxy representation. A shareholder’s proxy must produce a
dated proxy document or must otherwise demonstrate reliably his/her right to
represent the shareholder at the Annual General Meeting. If a shareholder
participates in the meeting by means of several proxies representing the
shareholder with shares in different book-entry accounts, the shares with which
each proxy represents the shareholder must be notified in connection with the
registration for the Annual General Meeting.
Any proxy documents should be delivered as originals to Lännen Tehtaat plc no
later than the expiry of the notification period at 16.00 on 21 March 2013.
Holders of nominee registered shares
Holders of nominee registered shares are advised to request in good time from
their asset manager the necessary instructions regarding registration in the
company’s shareholder register, the provision of proxy documents and
registration for the Annual General Meeting. If a holder of nominee registered
shares wishes to attend the Annual General Meeting, he or she must be
registered for temporary entry in the company’s shareholder register by the
asset manager’s account management organisation no later than 10.00 on 21 March
2013.
Other instructions and information
On the date of this notice, Lännen Tehtaat plc’s total number of shares and
votes is 6,317,576.
The company’s Annual Report will be published in the week beginning 4 March
2013 in Finnish and English on Lännen Tehtaat plc’s website. The English
version is a translation of the Finnish. The printed Finnish version of the
Annual Report will be sent to those who order it on the website
(www.lannen.fi/investor information). The printed version of the Annual Report
will be posted during the week beginning 11 March 2013.
LÄNNEN TEHTAAT plc, Stock Exchange Release, 28 February 2013 at 08.00
I DIVIDEND
LÄNNEN TEHTAAT plc, Stock Exchange Release, 28 February 2013 at 08.00
The Board of Directors proposes to the Annual General Meeting that a dividend
of EUR 0.90 per share be paid on the financial year 2012.
II ELECTION OF THE AUDITOR AND FEES
The Board of Directors' proposes that the auditor's fee be reimbursed according
to invoice approved by the company.
The Board of Directors proposes that Hannu Pellinen, APA, and
PricewaterhouseCoopers Oy Authorized Public Accountants with Tomi Moisio, APA,
CPFA as responsible auditor, be re-elected as the auditors to the close of the
following Annual General Meeting.
III AMENDING THE COMPANY’S ARTICLES OF ASSOCIATION
The Board of Directors will propose that article 1 of the company’s Articles of
Association be amended as follows:
Current article 1:
§1 Company name and domicile
The name of the company is Lännen Tehtaat Oyj, in Swedish Lännen Tehtaat Abp
and in English Lännen Tehtaat plc. The company’s domicile is Säkylä.
Proposed new article 1:
§1 Company name and domicile
The name of the company is Apetit Oyj, in Swedish Apetit Abp and in English
Apetit Plc. The company’s domicile is Säkylä.
LÄNNEN TEHTAAT plc, Financial Statements Bulletin 2012, 14 February 2013 at 8.45 a.m.
LÄNNEN TEHTAAT plc, Financial Statements Bulletin 2012, 14 February 2013 at
8.45 a.m.
This is a summary of the Financial Statements Bulletin for 2012. Complete
Financial Statements Bulletin for 2012 is attached to this release and can be
downloaded from the company’s website at www.lannen.fi.
Fourth quarter (October-December):
-- Consolidated fourth-quarter net sales came to EUR 115.0 (80.4) million,
which was a year-on-year increase of more than 40%.
-- Operating profit, excluding non-recurring items, came to EUR 5.1 (4.6)
million; non-recurring items totalled EUR 0.0 (0.6) million.
-- The profit for the period was EUR 4.0 (4.4) million, and earnings per share
amounted to EUR 0.64 (0.69).
Financial year (January-December):
-- Consolidated net sales for 2012 amounted to EUR 378.2 (335.5) million,
which was a year-on-year increase of almost 13%.
-- Operating profit, excluding non-recurring items, came to EUR 8.8 (9.8)
million; non-recurring items totalled EUR -0.4 (-1.1) million.
-- Profit for the year came to EUR 6.7 (5.7) million, and earnings per share
amounted to EUR 1.07 (0.92).
The Board of Directors will propose to the Annual General Meeting that a
dividend of EUR 0.90 (0.85) per share be paid.
The information in this bulletin has not been audited. The figures in
parentheses are the equivalent figures for the same period in 2011, unless
stated otherwise.
Matti Karppinen, CEO:
“Earnings per share for 2012 are higher than for the previous year. After the
fairly weak operating profit for the first six months, the operating profit for
July-December showed a year-on-year improvement. Net sales also grew
considerably in the second half of 2012. The restructuring of our Seafood
business has proceeded as planned, and the measures set out in the strategy
have led to strong sales growth in Finland and Sweden. In its marketing to
consumers, Frozen Foods has focused on home-grown raw materials as a key
competitive advantage. During 2012, the Kotimainen home-grown product range was
expanded beyond frozen vegetables and frozen ready meals to include fish
products as well, and sales of the entire range were up by 15% from the
previous year. Further delicious additions meeting the home-grown product
pledge will be developed in the future, both for consumers and the professional
food service sector. The development of Caternet has proceeded according to
plan. At the end of the year, Caternet’s commercial organisation – Apetit
Ammattilaiset – took responsibility for sales of Apetit Pakaste and Apetit Kala
products to the professional food service sector, which further strengthens our
position as partner to the sector and brings improved opportunities for
boosting and further developing sales in the sector. In Grains and Oilseeds,
our own vegetable oil packaging plant began operating more than a year ago, and
this has allowed us to tailor our vegetable oils for specific customers and
enables us to deliver in different packaging sizes according to the customer’s
needs. Thanks to the own packaging plant, the delivery volumes of packaged
vegetable oils almost doubled in comparison with the previous year.”
Key figures
EUR million Q4/ Q4/ Change 2012 2011 Change
2012 2011
--------------------------------------------------------------------------------
Net sales 115.0 80.4 43 % 378.2 335.5 13 %
--------------------------------------------------------------------------------
Operating profit, excl. non-recurring 5.1 4.6 8.8 9.8
items
--------------------------------------------------------------------------------
Operating profit 5.1 5.1 8.5 8.7
--------------------------------------------------------------------------------
Profit before taxes 4.6 5.1 7.5 7.5
--------------------------------------------------------------------------------
Profit for the period 4.0 4.4 6.7 5.7
--------------------------------------------------------------------------------
Earnings per share, EUR 0.64 0.69 1.07 0.92
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Shareholders’ equity per share, EUR 22.41 22.06
--------------------------------------------------------------------------------
Equity ratio, % 60.7 74.9
--------------------------------------------------------------------------------
Return on equity, % 4.8 4.1
--------------------------------------------------------------------------------
Return on investment,% 5.4 6.3
--------------------------------------------------------------------------------
Outlook for 2013
Lännen Tehtaat plc continues giving the full-year market guidance in its
Financial Statements Bulletin and repeats it in its Interim Reports.
Net sales for 2013 are expected to show a year-on-year increase as a result of
the acquisition made in 2012 and the achievement of organic growth. The Group’s
net sales will be affected particularly by the level of activity in the grain
and oilseed markets and by changes in the price level of grains and oilseeds.
As a result of growth and the development measures undertaken in the Group’s
businesses, the 2013 consolidated operating profit, excluding non-recurring
items, is expected to improve on the 2012 figure. The profit improvement is
expected to be strongest in the first six months of the year. The accrual of
Lännen Tehtaat’s annual profit is typically weighted towards the end of the
year, due to the nature of operations in the Frozen Foods business, the Seafood
business and the associated company Sucros.
The 2013 result could also be affected significantly by the outcome of the
shareholder agreement dispute concerning Sucros, which is expected to be
announced in the second half of 2013.
Board of Directors’ dividend proposal
The parent company’s distributable funds totaled EUR 88,539,558.39 on 31
December 2012, of which EUR 6,115,426.08 is profit for the financial year.
The Board of Directors will propose that a dividend of EUR 0.90 per share be
paid for 2012. The Board will propose that a total of EUR 5,568,818.40 be
distributed in dividends and that EUR 82,970,739.99 be left in equity. The
proposed dividend is 84.1% of the earnings per share.
No dividend will be paid on shares held by the company.
Annual General Meeting 2013
The Annual General Meeting is planned for Tuesday 26 March 2013, and will be
held at Säkylä.
Financial reporting in 2013
Lännen Tehtaat’s 2012 Annual Report, containing the Board of Directors’ report
and financial statements for 2012 and a separate statement on Lännen Tehtaat’s
corporate governance, will be published on its website at
www.lannen.fi/en/investor_information in the week beginning 4 March 2013.
The company will publish interim reports as follows:
-- Q1/2013, on Wednesday 8 May 2013 at 8.30 a.m.
-- Q2/2013, on Wednesday 14 August 2013 at 8.30 a.m.
-- Q3/2013, on Wednesday 6 November 2013 at 8.30 a.m.
Additional information from:
Matti Karppinen, CEO, tel. +358 (0)10 402 00
***************
Invitation to a news briefing
CEO Matti Karppinen will present Lännen Tehtaat’s 2012 results to analysts and
the media at a news briefing given in Finnish today, 14 February 2013, at 10.00
a.m. The news briefing will be held at the Sokos Hotel Vaakuna in Helsinki
(address: Asema-aukio 2).
The news briefing presentation material will be available on the company’s
website at www.lannen.fi/en/investor_information after the news briefing.
COPIES TO:
NASDAQ OMX Helsinki Ltd
Main media
www.lannen.fi.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 8 February 2013 at 9.00 (EET)
Lännen Tehtaat will publish its Financial Statements Bulletin 2012 on Thursday,
14 February 2013 at 8.30 a.m. Finnish time.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 8 February 2013 at 9.00 (EET)
A briefing (in Finnish) for analysts and media representatives will be held at
10.00-11.00 a.m. in Sokos Hotel Vaakuna, meeting room 1-2, 10th floor, access
through the hotel reception (address: Asema-aukio 2, Helsinki).
In the briefing, Lännen Tehtaat’s CEO Matti Karppinen presents the result of
Lännen Tehtaat for the year 2012 and tells about the recent development of the
company.
Please inform of your participation latest on 12 February 2013 to Ms Maija
Lipasti, tel. +358 10 402 4044 or e-mail
The Financial Statements Bulletin 2012 can be found on company web pages at
www.lannen.fi/en on 14 February after 8.30 a.m. and the presentation material
after the briefing.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 4 December 2012 at 9:00
Lännen Tehtaat plc will publish the following financial reports in 2013:
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 4 December 2012 at 9:00
-- Financial Statements Bulletin 2012, Thursday 14 February 2013 at 8:30
-- Annual Report 2012, Week 10, 2013
-- Interim Report January-March, Wednesday 8 May 2013 at 8:30
-- Interim Report January-June, Wednesday 14 August 2013 at 8:30
-- Interim Report January-September, Wednesday 6 November 2013 at 8:30
Lännen Tehtaat plc will hold its Annual General Meeting on Tuesday 26 March
2013. The Board of Directors will give a separate invitation to the Annual
General Meeting at a later date.
The financial reports are published in Finnish and English and are available on
the company’s web pages at www.lannen.fi
LÄNNEN TEHTAAT PLC
Eero Kinnunen
CFO
Further information:
Eero Kinnunen, tel. +358 10 402 00
Distribution:
NASDAQ OMX Helsinki Ltd
Main media
www.lannen.fi/en
Lännen Tehtaat plc, Interim Report,9 November 2012 at 8.30 a.m.
This is a summary of the Interim Report for the third quarter of 2012. Complete
Interim Report January-September 2012 is attached to this release and can be
downloaded from the company’s website at www.lannen.fi.
Lännen Tehtaat plc, Interim Report,9 November 2012 at 8.30 a.m.
July - September:
-- Consolidated net sales amounted to EUR 92.7 (77.6) million, up by 20 per
cent.
-- Operating profit, excluding non-recurring items, was EUR 3.9 (2.3) million;
non-recurring items totalled EUR ‑0.1 (0.0) million.
-- The profit for the quarter was EUR 3.3 (1.3) million, and earnings per
share amounted to EUR 0.52 (0.20).
January - September:
-- Net sales amounted to EUR 263.2 (255.1) million, up by 3 per cent.
-- Operating profit, excluding non-recurring items, was EUR 3.7 (5.3) million;
non-recurring items totalled EUR ‑0.3 (‑1.7) million.
-- The profit for the period was EUR 2.7 (1.2) million, and earnings per share
amounted to EUR 0.43 (0.23).
The assessment of profit performance for the full year is unchanged. The
full-year operating profit, excluding non-recurring items, is forecast to be no
higher than the level reached in 2011. The fourth-quarter operating profit,
excluding non-recurring items, is expected to be higher than the previous
year’s level.
The information in this Interim Report has not been audited. The figures in
parentheses are the equivalent figures for the same period a year earlier,
unless stated otherwise.
Matti Karppinen, CEO:
“Net sales for the third quarter were up by one-fifth compared with the
corresponding period last year. The growth occurred in all business operations.
The operating profit, excluding non-recurring items, was also clearly better
than in the corresponding period last year. In the third quarter, especially
the associated company Sucros posted a good result, which was influenced by
good market conditions and larger-than-normal sugar export deals executed
during the quarter. In the Seafood business, we have expedited the fresh fish
supply chain from water to table. The new logistics chain for fresh fish
adopted in June has been welcomed, and it has substantially increased sales of
fresh salmon products. In Frozen Foods, the success of the Kotimaiset product
range has continued.
The process of integrating Caternet Finland Oy, which was acquired in the
spring, has proceeded according to plan under the new management, and measures
have been implemented in the company to improve earnings capacity. The
company’s sales organisation has also been renewed. From beginning of 2013,
Caternet will be responsible for the sale of Apetit Kala’s and Apetit Pakaste’s
products to the professional kitchen sector. Due to the change, the product
range offered by Caternet will expand substantially and Caternet’s position as
a partner of the professional kitchen sector will be further reinforced.
Another objective is to increase sales of fish and frozen products to
professional kitchen sector customers.”
Net sales for the full year are expected to show an increase on the previous
year, due to the acquisition made and the achievement of organic growth. As a
consequence of the more moderate profit expectation of the Grains and Oilseeds
business following its record performance in 2011, the full-year operating
profit, excluding non-recurring items, will be no higher than the level reached
in 2011. The fourth-quarter operating profit, excluding non-recurring items, is
expected to be higher than the previous year’s level.
PUBLICATION OF FINANCIAL REPORTS IN 2013
Financial Statements Bulletin for 2012 will be published on 14 February 2013 at
about 8.30 a.m.
Further information:
Matti Karppinen, CEO, tel. +358 (0)10 402 00
***************
Invitation to a briefing
CEO Matti Karppinen will present Lännen Tehtaat’s third quarter 2012 results to
analysts and to the media (in Finnish) today, 9 November 2012, at 10.00 a.m.
The briefing will be held at the Scandic Simonkenttä hotel in Helsinki
(address: Simonkatu 9).
The presentation material will be available on the company’s website at
www.lannen.fi/en/investor_information after the event.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 5 November 2012 at 10.00 (EET)
Lännen Tehtaat will publish its Interim Report for January – September 2012 on
Friday, 9th November 2012 at 8.30 a.m. Finnish time.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 5 November 2012 at 10.00 (EET)
A briefing (in Finnish) for analysts and media representatives will be held at
10.00-11.00 a.m. in Hotel Scandic Simonkenttä, meeting room Espa, (address:
Simonkatu 9, Helsinki).
At the briefing, Lännen Tehtaat’s CEO Matti Karppinen will present the January
– September interim results of Lännen Tehtaat.
Please inform of your participation latest on 7th November 2012 to
Ms Maija Lipasti, tel. +358 10 402 4044 or e-mail
The January – September Interim Report can be found on company internet pages
at www.lannen.fi/en after publishing and the presentation material of the
briefing after the event.
LÄNNEN TEHTAAT PLC, stock exchange release, 18 October 2012
LÄNNEN TEHTAAT PLC, stock exchange release, 18 October 2012
According to preliminary information on the company’s results, Lännen Tehtaat’s
third-quarter operating profit, excluding non-recurring items, is expected to
be clearly higher than the previous year, at about EUR 3.5-4.0 million (EUR 2.3
million in the comparison period).
The better-than-expected third-quarter operating profit is due to the excellent
profit of the associated company Sucros in the Other Operations segment, which
was affected by larger-than-normal sugar export deals. The segment’s operating
profit is also improved by an income recognition from additional purchase price
related to the acquisition of Caternet Finland Oy. Additional purchase price
will not be realised in 2012.
The assessment of profit performance for the full year issued in connection
with the January-June Interim Report on 15 August 2012 remains unchanged.
Lännen Tehtaat plc will publish its January-September Interim Report on 9
November 2012 at 8.30 am.
LÄNNEN TEHTAAT PLC
Matti Karppinen
CEO
Further information:
Matti Karppinen, CEO, tel. +358 (0)10 402 00
Copies to:
NASDAQ OMX Helsinki Ltd
Main media
www.lannen.fi
LÄNNEN TEHTAAT PLC, Interim Report, 15 August 2012 at 8.30 a.m.
This is a summary of the Interim Report January - June 2012. The complete
Interim Report, including tables of financial information, is attached to this
release and can be downloaded from the company’s website at www.lannen.fi/en.
LÄNNEN TEHTAAT PLC, Interim Report, 15 August 2012 at 8.30 a.m.
Second quarter (April-June):
-- Consolidated net sales amounted to EUR 91.0 (93.5) million, down by 2.7 per
cent.
-- Operating profit, excluding non-recurring items, came to EUR 0.3 (2.1)
million; non-recurring items totalled EUR -0.2 (-1.7) million.
-- The profit for the quarter was EUR 0.0 (-0.2) million, and earnings per
share amounted to EUR 0.01 (-0.02).
January-June:
-- Consolidated net sales amounted to EUR 170.5 (177.5) million, down by 4.0
per cent.
-- Operating profit, excluding non-recurring items, came to EUR -0.2 (3.0)
million; non-recurring items totalled EUR -0.2 (-1.7) million.
-- The profit for the period was EUR -0.6 (0.0) million, and earnings per
share amounted to EUR -0.09 (0.03).
The assessment of profit performance for the full year is unchanged.
The information in this Interim Report has not been audited. The figures in
parentheses are the equivalent figures for the same period a year earlier,
unless stated otherwise.
Matti Karppinen, CEO:
“The operating profit for the first half-year, excluding non-recurring items,
was down – as expected – in relation to the same period last year, when Grains
and Oilseeds made a record profit. The volume of grain trade sales was slack,
and vegetable oil crushing suffered from a weak refining margin. The operating
profit, excluding non-recurring items, in Frozen Foods and Seafood were about
the same as last year. In Other Operations, Caternet boosted net sales
considerably, as expected.
“The acquisition of Caternet strengthens Lännen Tehtaat’s position as a food
solutions supplier to the food service sector, and the company’s product range
complements Lännen Tehtaat’s range very well. The sales growth outlook for
Caternet is encouraging, as the food service sector is increasingly ordering
ready-to-use washed and chopped fruit, vegetables and salads, which involve a
considerable amount of work by hand.”
Net sales for the full year are expected to show an increase on the previous
year, due to the acquisition made and the achievement of organic growth. As a
consequence of the more moderate profit expectation of the Grains and Oilseeds
business following its record performance in 2011, the full-year operating
profit, excluding non-recurring items, will be no higher than the level reached
in 2011. The profit performance in the second half of the year will be
influenced substantially by the extent of activity in the grain and oilseed
markets, which is difficult to assess.
PUBLICATION DATES FOR FINANCIAL REPORTS IN 2012
Interim Report for January-September will be published on 9 November at about
8.30 a.m.
Further information:
Matti Karppinen, CEO, tel. +358 (0)10 402 00
***************
Invitation to a briefing
CEO Matti Karppinen will present Lännen Tehtaat’s first half year 2012 results
to analysts and to the media in Finnish today, 15 August 2012, at 10.00 a.m.
The briefing will be held at the Scandic Simonkenttä hotel in Helsinki
(address: Simonkatu 9).
The presentation material will be available on the company’s website at
http://www.lannen.fi/en/investor_information after the briefing.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 9 August 2012 at 9.00 (EET)
Lännen Tehtaat will publish its Interim Report for January – June 2012 on
Wednesday, 15th August 2012 at 8.30 a.m. Finnish time.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 9 August 2012 at 9.00 (EET)
A briefing (in Finnish) for analysts and media representatives will be held at
10.00-11.00 a.m. in Hotel Scandic Simonkenttä, meeting room Espa, (address:
Simonkatu 9, Helsinki).
At the briefing, Lännen Tehtaat’s CEO Matti Karppinen will present the January
– June Interim results of Lännen Tehtaat and will give more information about
other topical matters concerning the company.
Please inform of your participation latest on 13th August 2012 to Ms Maija
Lipasti, tel. +358 10 402 4044 or e-mail
The January – June Interim Report can be found on company web pages at
www.lannen.fi/en after publishing and the presentation material of the briefing
after 11.00 a.m.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 21 May 2012 at 11.00 (EET)
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 21 May 2012 at 11.00 (EET)
Antti Kerttula (b. 1956) has been appointed Managing Director of Caternet
Finland Oy, as of 21 May 2012. He has served as Director of Lännen Tehtaat
plc’s Frozen Foods business since 1994, and has been Managing Director of
Apetit Pakaste Oy since 2007. Kerttula will continue as a member of Lännen
Tehtaat’s Corporate Management.
Vesa Moisio (b. 1965) has been appointed Managing Director of Apetit Pakaste Oy
and a member of Lännen Tehtaat’s Corporate Management, as of 21 May 2012. He
has over 20 years’ experience in various duties at Vaasan Oy.
“Antti Kerttula brings to Caternet his considerable expertise in the food
business. His leadership will enable us to further strengthen and develop
Caternet’s core business. Vesa Moisio has diverse and solid expertise in the
food business gained at Vaasan Oy, and this is needed to boost the level of
profitable growth at Apetit Pakaste,” says Matti Karppinen, CEO of Lännen
Tehtaat.
Apetit Pakaste is the leading Finnish producer of frozen vegetables and frozen
ready meals. Under its Apetit brand, it develops, produces, markets and sells
frozen foods mainly produced using Finnish raw materials. The home-grown
content accounts for more than 80% in Apetit’s frozen vegetables and frozen
potato products. The Kotimaiset range is produced using only Finnish raw
materials. The net sales of Apetit Pakaste in 2011 totalled approximately EUR
45 million and it had a personnel of approximately 200.
Lännen Tehtaat plc acquired Caternet Finland Oy in March 2012. Caternet Finland
Oy is Finland’s leading company specialising in preparing and supplying
additive-free fresh food products. The company produces pre-prepared and
ready-to-use vegetable and fruit products in a modern production plant with the
highest standards of food hygiene at Kivikko in Helsinki. Caternet’s customers
are mainly companies in the food service sector. Caternet’s net sales in 2011
totalled approximately EUR 29 million and it had a personnel of approximately
120.
LÄNNEN TEHTAAT PLC
Matti Karppinen
CEO
Further information:
Matti Karppinen, CEO, tel. +358 (0)10 402 00
LÄNNEN TEHTAAT PLC, Interim Report, 4 May 2012 at 8.30 (EET)
LÄNNEN TEHTAAT PLC, Interim Report, 4 May 2012 at 8.30 (EET)
This is a summary of the Interim Report for the first quarter of 2012. The
complete Interim Report, including tables of financial information, is attached
to this release and can be downloaded from the company’s website at
www.lannen.fi
-- Consolidated net sales amounted to EUR 79.4 (84.0) million, down by 5 per
cent
-- Operating profit, excluding non-recurring items, was EUR -0.5 (0.8)
million; non-recurring items totaled EUR -0.1 (0.0) million
-- The Group acquired Caternet Finland Oy during the first quarter; EUR -0.5
million in transaction expenses related to this acquisition are included in
the consolidated operating profit
-- The estimate of full-year profit performance has been updated. It is
forecast that the full-year operating profit, excluding non-recurring
items, will reach at the best the level of 2011, due to the lacklustre
profit performance in early part of the year
The information in this Interim Report has not been audited. The figures in
parentheses are the equivalent figures for the same period a year earlier,
unless stated otherwise.
KEY FIGURES
EUR million Q1/2012 Q1/2011 Change 2011
--------------------------------------------------------------------------------
Net sales 79.4 84.0 -5% 335.5
--------------------------------------------------------------------------------
Operating profit, excluding non-recurring items -0.5 0.8 9.8
--------------------------------------------------------------------------------
Operating profit -0.6 0.8 8.7
--------------------------------------------------------------------------------
Profit before taxes -0.7 0.5 7.5
--------------------------------------------------------------------------------
Profit for the period -0.7 0.2 5.7
--------------------------------------------------------------------------------
Earnings per share, EUR -0.09 0.04 0.92
--------------------------------------------------------------------------------
Shareholders’ equity per share, EUR 21.13 21.30 22.06
--------------------------------------------------------------------------------
Equity ratio, % 64.0 68.0 74.9
--------------------------------------------------------------------------------
Matti Karppinen, CEO:
“In order to strengthen its future profit performance, Lännen Tehtaat acquired
Caternet Finland Oy at the end of March. Caternet has a strong position in
Finland as a supplier of ready-to-use fresh products to the hotel, restaurant
and catering sector. Caternet’s fresh products are very suitable additions to
Lännen Tehtaat’s current product selection, which focuses on great taste,
healthiness and light choices. The acquisition supports Lännen Tehtaat’s growth
strategy and will bring plenty of synergy benefits to the business. Caternet
has modern production facilities that are excellently located in terms of
logistics and will provide good potential for increasing sales. Caternet’s and
Lännen Tehtaat’s product selections and customer relationships complement each
other well, and together we will be able to further improve customer service
and utilise our expertise and product sales channels more effectively”.
“The consolidated operating profit excluding non-recurring items for the first
quarter was down year on year, and was reported as a loss. The result for the
Grains and Oilseeds business was weaker than a year earlier, as grain sales
were significantly slower and the vegetable oil refining margin was down year
on year. The result for the Seafood business was down from a year earlier,
while in the Frozen Foods business the result was unchanged, and in Other
Operations the associated company Sucros improved its result.”
ASSESSMENT OF EXPECTED FUTURE DEVELOPMENTS
The short-term outlook, which contains a great deal of uncertainty, is weaker
than that of the same period last year. The second-quarter operating profit,
excluding non-recurring items, is expected to be weaker than that for the same
period in 2011, due to the more moderate profit expectations for the Grains and
Oilseeds business.
In the financial statements bulletin issued in February, it was stated that the
Group’s full-year operating profit in 2012, excluding non-recurring items, is
expected to be higher than the previous year.
It is forecast that the full-year operating profit, excluding non-recurring
items, will reach at the best the level of 2011. The profit performance in the
second half of the year will be influenced substantially by the extent of
activity in the grain and oilseed markets, which at this stage of the year is
still difficult to assess.
PUBLICATION DATES FOR FINANCIAL REPORTS IN 2012
The following Interim Reports will be published during 2012: January-June on 15
August at about 8.30 a.m. and January-September on 9 November at about 8.30
a.m.
Further information:
Matti Karppinen, CEO, tel. +358 (0)10 402 00
***************
Invitation to a press conference
CEO Matti Karppinen will present Lännen Tehtaat’s first quarter 2012 results
and give more information about the acquisition of Caternet Finland Oy to
analysts and to the media in Finnish today, 4 May 2012, at 10.00 a.m. The press
conference will be held at the Scandic Simonkenttä hotel in Helsinki (address:
Simonkatu 9).
The presentation material will be available on the company’s website at
http://www.lannen.fi/en/investor_information after the press conference.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 27 April 2012 at 9.00 (EET)
Lännen Tehtaat will publish its Interim Report for January – March 2012 on
Friday, 4th May 2012 at 8.30 a.m. Finnish time.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 27 April 2012 at 9.00 (EET)
A press conference (in Finnish) for analysts and media representatives will be
held at 10.00-11.00 a.m. in Hotel Scandic Simonkenttä, meeting room Espa,
(address: Simonkatu 9, Helsinki).
In the press conference Lännen Tehtaat’s CEO Matti Karppinen presents the first
quarter results of Lännen Tehtaat and gives more information about other actual
matters, as the acquisition of Caternet Finland Oy.
Please inform of your participation latest on 2nd May 2012 to Ms Maija Lipasti,
tel. +358 10 402 4044 or e-mail
The January – March Interim Report can be found on Company web pages at
www.lannen.fi/en after publishing and the presentation material of the press
conference after 10.00 a.m.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 13 April 2012 at 17:00
The Supervisory Board of Lännen Tehtaat plc today elected Timo Miettinen as
Chairman of the Supervisory Board and Marja-Liisa Mikola-Luoto as Deputy
Chairman of the Supervisory Board.
LÄNNEN TEHTAAT PLC, Stock Exchange Release, 13 April 2012 at 17:00
It was decided to elect 6 members to the Board of Directors. Aappo Kontu, Matti
Lappalainen, Veijo Meriläinen, Samu Pere, Jorma J. Takanen and Helena Walldén
were elected as members of the Board. Matti Lappalainen was elected as Chairman
of the Board and Aappo Kontu as Deputy Chairman of the Board.
It was decided that the monthly fee paid to the members of the Board is EUR
1,550, the monthly fee paid to the Deputy Chairman is EUR 1,915 and the monthly
fee paid to the Chairman of the Board is EUR 3,100. In addition, a meeting fee
of EUR 510 is paid to the Chairman and EUR 255 to the members of the Board.
LÄNNEN TEHTAAT PLC
Matti Karppinen
CEO
Further information:
Matti Karppinen, CEO, tel. +358 10 402 00
