| 04.12.2019 |
Apetit Plc: Managers' transactions
Apetit Plc, Stock Exchange Release, 4 December 2019 at 1:00 p.m.
Apetit Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Hurme, Annikka
Position: Member of the Board/Deputy member
Issuer: Apetit Oyj
LEI: 743700RSFZUIQYABYT14
Notification type: INITIAL NOTIFICATION
Reference number: 743700RSFZUIQYABYT14_20191204094340_2
____________________________________________
Transaction date: 2019-12-03
Venue not applicable
Instrument type: SHARE
ISIN: FI0009003503
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE OR REMUNERATION
Transaction details
(1): Volume: 1,004 Unit price: 7.7887 EUR
Aggregated transactions
(1): Volume: 1,004 Volume weighted average price: 7.7887 EUR
Apetit Plc
For more information, please contact:
Asmo Ritala, Corporate Counsel, tel, +358 10 402 4005
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 04.12.2019 |
Apetit Plc: Managers' transactions
Apetit Plc, Stock Exchange Release, 4 December 2019 at 1:00 p.m.
Apetit Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Palokangas, Simo
Position: Member of the Board/Deputy member
Issuer: Apetit Oyj
LEI: 743700RSFZUIQYABYT14
Notification type: INITIAL NOTIFICATION
Reference number: 743700RSFZUIQYABYT14_20191204093432_2
____________________________________________
Transaction date: 2019-12-03
Venue not applicable
Instrument type: SHARE
ISIN: FI0009003503
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE OR REMUNERATION
Transaction details
(1): Volume: 2,005 Unit price: 7.7887 EUR
Aggregated transactions
(1): Volume: 2,005 Volume weighted average price: 7.7887 EUR
Apetit Plc
For more information, please contact:
Asmo Ritala, Corporate Counsel, tel, +358 10 402 4005
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 04.12.2019 |
Apetit Plc: Managers' transactions
Apetit Plc, Stock Exchange Release, 4 December 2019 at 1:00 p.m.
Apetit Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Simula, Niko
Position: Member of the Board/Deputy member
Issuer: Apetit Oyj
LEI: 743700RSFZUIQYABYT14
Notification type: INITIAL NOTIFICATION
Reference number: 743700RSFZUIQYABYT14_20191204095809_2
____________________________________________
Transaction date: 2019-12-03
Venue not applicable
Instrument type: SHARE
ISIN: FI0009003503
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE OR REMUNERATION
Transaction details
(1): Volume: 1,004 Unit price: 7.7887 EUR
Aggregated transactions
(1): Volume: 1,004 Volume weighted average price: 7.7887 EUR
Apetit Plc
For more information, please contact:
Asmo Ritala, Corporate Counsel, tel, +358 10 402 4005
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 03.12.2019 |
Apetit Plc: Announcement of conveyance of own shares
Apetit Plc, Stock Exchange Release, 3 December 2019 at 10:00 a.m.
Apetit Plc has assigned a total of 6.255 shares (APETIT) on 3 December 2019 (other conveyance) as a reward to members of the Board of Directors. The assignment value is EUR 48.718,32 in total, which corresponds approximately to EUR 7.79 per share. Taking into account the above-specified conveyances, the company holds a total 94.700 shares.
Apetit Plc’s Supervisory Board decided in April 8, 2019, that the Chairman will receive an annual remuneration of EUR 39,060, the Deputy Chairman will receive EUR 24,120 and the Board members’ EUR 19,560. A total of 60 per cent of the annual remuneration will be in cash and the remaining 40 per cent in the form of Apetit Plc's shares held by the company at the current value of the share at the time of transfer. The remuneration was decided to be paid in share and cash payments in December.
Apetit Plc
For more information, please contact:
Asmo Ritala, Corporate Counsel, tel, +358 10 402 4005
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 07.11.2019 |
Teemu Luovila appointed CFO of Apetit Plc
Apetit Plc, Stock Exchange Release on 7 November 2019 at 10:00 a.m
Teemu Luovila, M. Sc. (Accounting & Financing) has been appointed CFO of Apetit Plc. He is responsible for the Group's financing and finance, HR, legal and IT. Luovila will start in his position on 1 February 2020 at the latest. He reports to CEO Esa Mäki and is a member of the corporate management team.
Previously Luovila has worked for example as CFO of Sataservice-Yhtymä Oy / Satu Invest Oy, CEO of Kaiku HR Oy and APA and Partner at Ernst & Young Oy.
“I warmly welcome Teemu Luovila to Apetit to strengthen the team and build the company further in its new form,” says CEO Esa Mäki.
The Corporate Management Team of Apetit Plc as of 1.2.2020
Esa Mäki, CEO and Business Director, Food Solutions
Teemu Luovila, CFO
Tero Heikkinen, Business Director, Oilseed Products and Grain Trade
Ari Kulmala, Production Director
Timo Partola, Commercial Director
Sanna Väisänen, Director, Corporate Communications and Sustainability
Corporate Counsel Asmo Ritala will not continue as a member of the Corporate Management Team as of February 1, 2020 but will continue to work for the Group.
Apetit Plc
For more information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 06.11.2019 |
Apetit Plc’s Business Review 1 January – 30 September 2019: Apetit’s result unsatisfactory in the third quarter, ongoing measures to improve profitability across all business areas
Apetit Plc, Stock Exchange Release, 6 November 2019 at 8:30 a.m.
July–September 2019, continuing operations
· Net sales amounted to EUR 56.0 (70.7) million
· Operational EBITDA* was EUR 0.9 (2.0) million
· Operational EBIT was EUR -0.9 (1.1) million
January–September 2019, continuing operations
· Net sales amounted to EUR 191.5 (191.2) million
· Operational EBITDA* was EUR 1.8 (4.0) million
· Operational EBIT was EUR -2.6 (1.1) million
July–September 2019, Group, including discontinued operations **
· Consolidated net sales amounted to EUR 61.2 (76.6) million
· Operational EBITDA* was EUR 1.2 (2.0) million
· Operational EBIT was EUR -0.7 (0.6) million
January–September 2019, Group, including discontinued operations **
· Consolidated net sales amounted to EUR 207.2 (209.1) million
· Operational EBITDA* was EUR 1.7 (3.5) million
· Operational EBIT was EUR -3.5 (-0.9) million
*) Apetit has adopted IFRS 16 Leases effective from 1 January 2019. The simplified approach has been applied in the transition, and the comparison figures for the year preceding the adoption of the standard have not been adjusted. The adoption of the standard increased the Group’s operational EBITDA for January–September 2019 by EUR 1.6 million. The change does not have a material effect on EBIT.
**) Discontinued operations: The sale of Apetit Plc’s fresh cut products business to the Swedish company Greenfood was completed on 30 September 2019. The sold business is included in discontinued operations in this Business Review. The seafood business divested in 2017 is included in discontinued operations for the comparison year and it only affects the financial items.
The information in this Business Review is unaudited. The figures in brackets refer to the continuing operations in the corresponding period in 2018 and the comparison period means the corresponding period in the previous year, unless otherwise stated.
Esa Mäki, CEO:
“Apetit's current profit level cannot be considered satisfactory. Due to this, we implement a clear profit improvement in all businesses with the new management that has been renewed during the autumn.
The profitability of Grain Trade was reduced by low sales volumes and weak margins. Purchasing volumes in the grain trade during the past harvest season were higher than ever before due to active procurement in all procurement areas. The international demand for grain has picked up during the autumn, which supports the future profit performance of the Grain Trade business.
The Oilseed Products business was negatively affected by the poor harvest in Finland, which was due to a significant decrease in the area under cultivation and an exceptionally large number of pests. The domestic harvest of oilseed crops was record-low, which increases raw material costs. One of Apetit’s key objectives is to promote the cultivation of oilseed crops in Finland to ensure the availability of domestic raw material. The reduced world market price of rapeseed meal also had a negative impact on the refining margin.
In Food Solutions, we continued to focus on the core business by selling our fresh cut products business based in Helsinki’s Kivikko district to the Sweden-based Greenfood Group. The sale of the fresh cut products business was announced in July and the transaction was finalised at the end of September following its approval by the competition authority. The divestment of the unprofitable fresh cut products business improves the profitability of Food Solutions in the future.
The vegetable-based patty and ball production line at the Säkylä plant, where production operations began gradually in August, is a response to the growing demand for this category of products in Finland as well as the international markets. Also, it enables new product solutions. Product launches during the autumn, especially the fish fingers from fresh water fish (Järvikalapuikko) as well as cauliflower and broccoli wings, are quickly becoming significant products in the frozen food category in retail.
Increasing international food sales has been one of Apetit’s strategic priorities. We have exported peas to the international markets for several decades already, but our goal now is to increase the share of various value-added products, particularly patty and ball products. We took significant steps in the international sales of value-added products in the third quarter by making considerable headway with customers in the Nordic region as well as an importer in the UK.
The rapeseed protein ingredient project is moving forward as planned: the commercialisation of the product has begun and interest in the product has emerged in the European market. The European Food Safety Authority is currently processing the novel food application and the expert statement is expected to be completed in spring 2020.
Apetit’s current businesses are all characterised by strong integration with Finnish primary production and the unique value chain around it. This is a clear competitive advantage and differentiating factor for us now and in the future.”
KEY FIGURES
+-----------------------------+------+-----+-------+------+------+-------+------+
|EUR million |7–9 |7–9 |Change |1–9 |1–9 |Change |2018 |
| |2019 |2018 | |2019 |2018 | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Continuing operations | | | | | | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Net sales |56.0 |70.7 |-21% |191.5 |191.2 |0% |259.9 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Operational EBITDA |0.9 |2.0 | |1.8 |4.0 | |5.6 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Operational EBIT |-0.9 |1.1 | |-2.6 |1.1 | |1.6 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Operating profit |0.2 |2.0 | |-3.7 |-0.7 | |0.5 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Share of profit of associated|-1.2 |-0.1 | |-1.5 |-1.0 | |-0.7 |
|company Sucros | | | | | | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Profit for the period |-1.2 |1.5 | |-5.1 |-1.8 | |-0.4 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Earnings per share, EUR |-0.19 |0.24 | |-0.82 |-0.30 | |-0.07 |
| | | | | | | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Working capital, end of | | | |67.8 |49.1 | |57.2 |
|period | | | | | | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Investment | | | |9.8 |2.4 | |6.1 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Group | | | | | | | |
|(incl. operations | | | | | | | |
|discontinued, fresh cut | | | | | | | |
|products, seafood) | | | | | | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Net sales |61.2 |76.6 | |207.2 |209.1 | |283.1 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Operational EBITDA |1.2 |2.0 | |1.7 |3.5 | |4.8 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Operational EBIT |-0.7 |0.6 | |-3.5 |-0.9 | |-1.0 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Operating profit |2.8 |1.5 | |-2.1 |-2.6 | |-6.9 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Profit for the period |0.9 |1.1 | |-3.9 |-3.4 | |-7.5 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Earnings per share, EUR |0.14 |0.17 | |-0.63 |-0.55 | |-1.21 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Equity per share, EUR | | | |15.39 |16.73 | |16.29 |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Operational return on capital| | | |-4.2% |0.0% | |-1.7% |
|employed (ROCE %) | | | | | | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Net cash flow from operating | | | |-10.8 |-18.7 | |-23.5 |
|activities | | | | | | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Equity ratio | | | |49.9% |63.6% | |61.4% |
+-----------------------------+------+-----+-------+------+------+-------+------+
|Gearing | | | |49.7% |12.3% | |21.5% |
| | | | | | | | |
+-----------------------------+------+-----+-------+------+------+-------+------+
FINANCIAL PERFORMANCE IN JULY–SEPTEMBER
Comparable net sales decreased by 21 per cent to EUR 56.0 (70.7) million. In Food Solutions, net sales declined due to the elimination of service sales. In Oilseed Products, net sales increased slightly year-on-year. The net sales of Grain Trade decreased substantially year-on-year.
Operational EBIT was EUR -0.9 (1.1) million. The profit performance of Food Solutions was reduced by the different accrual of sales compared to the reference period as well as non-recurring expenses related to the start of the new patty production line. In Oilseed Products, profitability was weakened by the higher cost of raw material and the weak world market price of rapeseed meal. The profit performance of Grain Trade declined year-on-year due to lower net sales and weak margins.
FINANCIAL PERFORMANCE IN JANUARY–SEPTEMBER
Comparable net sales were on a par with the previous year at EUR 191.5 (191.2) million. In Food Solutions, net sales decreased year-on-year due to the elimination of the service business. In Oilseed Products, net sales were slightly lower than in the comparison period. The net sales of Grain Trade increased year-on-year due to higher volumes.
Operational EBIT was EUR -2.6 (1.1) million. The profit performance of Food Solutions was on a par with the comparison period. In Oilseed Products, profitability was weakened by the higher cost of raw material and the weak world market price of rapeseed meal. The profitability of Grain Trade decreased significantly, mainly due to the poor harvest of 2018 related to the imbalance between supply and demand and the lower market prices of grain.
The Group’s liquidity was good and its financial position was strong. The equity ratio was 49.9 (63.6) per cent, and gearing was 49.7 (12.3) per cent. Consolidated cash flow from operating activities was substantially negative in the third quarter due to high grain purchasing volumes and the timing of rapeseed and rapeseed raw material procurement at the start of the harvest season. Consolidated cash flow from operations after interest and taxes amounted to EUR -10.8 (-18.7) million in January–September.
SALE OF THE FRESH CUT PRODUCTS BUSINESS TO GREENFOOD GROUP
On 10 July 2019, Apetit Plc announced that it had signed an agreement on selling its fresh cut products business operations to Greenfood Group. The competition authority approved the transaction on 27 September 2019 and the transaction was completed on 30 September 2019.
The arrangement was carried out as a business transfer that covered Apetit's plant property in Helsinki’s Kivikko district, including machinery and equipment. The employees of Apetit’s fresh cut products business operations were transferred to Salico Oy, Greenfood Group’s Finnish subsidiary, as existing employees.
The transaction price of the business transfer was EUR 13.8 million. Of the transaction price, EUR 3.8 million was paid in cash on 30 September 2019 and the remainder in October 2019. Apetit recognised a non-recurring sales gain on the transaction in the amount of EUR 1.9 million after taxes in the third quarter.
SEASONALITY OF OPERATIONS
In accordance with the IAS 2 standard, the historical cost of inventories includes a systematically allocated portion of the fixed production overheads. With production focusing on harvest time, raw materials are mainly processed into finished products during the second half the year. This means that more fixed production overheads are recognised on the balance sheet in the second half than during the first half. Due to this accounting practice, most of the Group’s annual profit is accrued during the second half of the year. The seasonal nature of profit accumulation is most marked in the frozen foods group of the Food Solutions segment and in the associated company Sucros, where production reflects the crop harvesting season. The company’s operational indicators have been updated in 2019, and they no longer include the capitalisation of fixed costs at inventory value in accordance with the IAS 2 standard. This change will reduce annual seasonality in terms of operational indicators.
Harvesting seasons also cause seasonal variation in the amount of working capital tied up in operations. Working capital tied up in Grain Trade and Oilseed Products is at its highest towards the end of the year and decreases to its lowest in the summer before the next harvest season. As the production of frozen products is also seasonal and follows the harvest period, the working capital tied up in operations is at its highest around the turn of the year in the Food Solutions segment.
Net sales in Grain Trade vary from one year and quarter to the next, even quite considerably, being dependent on the demand and supply situation and on the price level in Finland and other markets.
PROFIT GUIDANCE FOR 2019 UNCHANGED (published on 16 September 2019)
The Group's full-year operational EBIT will be below comparable level (EUR -1.0 million in 2018). Due to seasonality of the operations, most of the Group’s annual profit is accrued during the second half of the year.
Apetit Plc
For more information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 21.10.2019 |
Changes in Apetit Plc’s Management Team
Apetit Plc, Stock Exchange Release on 21 October 2019 at 2:15 p.m.
Apetit Plc continues renewing its management system and management team structure as part of the business reorganization. The changes in the Corporate Management Team will take effect as follows:
Tero Heikkinen has been appointed Director, the Grain Trade and Oilseed Products businesses as of 1 December 2019. Currently Heikkinen holds the CFO as well as the interim Director, the Grain Trade business positions at Apetit Group. A recruitment process of a new CFO is currently ongoing.
Max Portnoj has been appointed interim CFO and a member of the Management Team as of 1 December 2019. Portnoj is currently working as Group Controller at Apetit.
Antti Snellman, Director, the Grain Trade business will leave his position at Apetit until the end of October 2019.
Johanna Heikkilä, Director, Human Resources at Apetit Group, will continue working for Apetit and as a member of the Management Team until the end of February 2020. In the future, the HR function will be managed by the new CFO.
"I thank Antti Snellman and Johanna Heikkilä for their work for Apetit and wish them all the best in the future. During her long career at Apetit, Johanna has successfully built and further developed Apetit Group’s HR function and acted as a strong partner for the businesses at various stages of the Group. Antti, for his part, has especially boosted development projects and production efficiency in the Oilseeds business, as well as structural renewal of the Grain Trade," says CEO Esa Mäki.
Apetit Plc
For more information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 15.10.2019 |
Change in Apetit Plc’s Management Team
Apetit Plc, Stock Exchange Release on 15 October 2019 at 11:00 a.m.
Anu Ora, Vice President, the Oilseed Products business will leave her position at Apetit and move to the position of CEO at Örum Oy Ab. Ora will continue to work at Apetit and as a member of the Management Team until the end of November 2019.
“I want to extend my thanks to Anu for the good cooperation we have had. I also wish her all the best in her new position,” says CEO Esa Mäki.
Apetit Plc
For more information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 30.09.2019 |
Change in Apetit Plc’s Management Team
Apetit Plc, Stock Exchange Release on 30 September 2019 at 03:35 p.m.
Apetit Plc announced on September 30, 2019 that the sale of its fresh cut products business to the Swedish company Greenfood has been completed. As a result, Leena Helminen, Director, Fresh Cut Products, will transfer to the service of the new owner and will therefore not continue as a member of Apetit Plc's Management Team as of October 1, 2019.
“I thank Leena Helminen for her work at Apetit and in the management team. I wish Leena all the best in future”, says CEO Esa Mäki.
Apetit Plc
For more information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 30.09.2019 |
The sale of Apetit’s fresh cut products business to Greenfood is completed
Apetit Plc, Stock Exchange Release on 30 September 2019 at 03:30 p.m.
Apetit Plc announced on 10 July 2019, that it has signed an agreement on selling its fresh cut products business to Greenfood Group. The competition authority has approved the transaction on 27 September 2019 and the transaction has been completed on 30 September 2019.
Apetit Plc
For more information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Sanna Väisänen, Director, Corporate Communications and Sustainability, tel. +358 10 402 4041
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 27.09.2019 |
Competition authority has approved the sale of Apetit’s fresh cut products business to Greenfood
Apetit Plc, Stock Exchange Release on 27 September 2019 at 03:30 p.m.
The competition authority has approved the transaction in which Apetit sells its fresh cut products business, located in Helsinki, Finland, to Greenfood Group. The parties have agreed to pursue the completion of the transaction on 30 September 2019.
Apetit Plc announced on 10 July 2019, that it has signed an agreement on selling its fresh cut products business to Greenfood. Greenfood is a leading healthy fresh food actor that operates in the Nordic countries and Western Europe. In Finland, Greenfood AB owns Salico Oy, Satotukku Oy, Picadeli Oy and Snackpoint Oy. Salico is one of the leading Finnish suppliers of fresh cut fruit and vegetable products to food service, retail and fast food chains.
For more information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Sanna Väisänen, Director, Corporate Communications and Sustainability, tel. +358 10 402 4041
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
|
| 27.09.2019 |
Apetit Plc’s financial reporting in 2020
Apetit Plc, Stock Exchange Release, 27 September 2019 at 11:45 a.m.
Apetit Plc will publish its Financial Statements Review, Half Year Financial Review and two Business Reviews in 2020 as follows:
February 21, 2020 - Financial Statements Review for 2019
May 8, 2020 - Business Review for January-March 2020
August 21, 2020 - Half Year Financial Review for January-June 2020
November 4, 2020 - Business Review for January-September 2020
The Annual Report for 2019 will be published during the week 10, 2020.
Apetit's Annual General Meeting is planned to be held on Thursday, March 26, 2020. Apetit's Board of Directors will summon the meeting at a later date.
The financial reports are published in Finnish and English and will be available on the company’s web pages at apetit.fi.
Apetit Plc
For further information, please contact:
Sanna Väisänen, Director, Corporate Communications and Sustainability, tel. +358 10 402 4041
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
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| 16.09.2019 |
Profit warning: Apetit revises its estimate of operational EBIT for 2019
Apetit Plc, Inside information, 16 September 2019 at 9:00 a.m.
Apetit Plc revises its estimate of operational EBIT for 2019. The company now estimates that the Group’s full-year operational EBIT will be below comparable level (EUR -1.0 million in 2018).
Delivery volumes in the Grain trade business for the end of 2019 will be lower than previously forecasted. In the case of the Oilseed products business, the market price of rapeseed expeller has fallen sharply due to the decrease in the price of soybean meal. In addition, rapeseed raw material costs have increased. As a result, the delay in the result for the first half of 2019 due to the poor harvest will not be caught up.
The revised profit guidance for 2019:
The Group’s full-year operational EBIT is expected to decrease from the previous year (EUR -1.0 million in 2018).
The previous profit guidance for 2019 (published on 20 February 2019):
The Group's full-year operational EBIT is expected to improve year-on-year (EUR -1.0 million in 2018).
Apetit Plc
For further information, please contact:
Esa Mäki, CEO, tel. +358 10 402 2100
Sanna Väisänen, Director, Communications, Marketing and Investor Relations, tel. +358 10 402 4041
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
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| 13.09.2019 |
Changes in Apetit Plc's Management Team
Apetit Plc, Stock Exchange Release 13.9.2019 at 09:30 a.m.
As part of the business reorganization, Apetit Plc is renewing its management system and management team structure. The following appointments in the Corporate Management Team will take effect as of 23 September, 2019.
Ari Kulmala has been appointed Production Director and is responsible for the Säkylä and Pudasjärvi plants. Kulmala will transfer to the position from A-Rehu Oy where he has held the position Director, Production and Operations Management.
Timo Partola has been appointed Commercial Director and is responsible for sales, marketing and product development. Partola has previously worked as Marketing Director for Findus Finland Oy and Marketing Manager at Olvi Plc.
Sanna Väisänen has been appointed Director, Corporate Communications and Sustainability and is responsible for communications, sustainability and investor relations. Väisänen has previously held the position Director, Communications, Marketing and Investor Relations at Apetit.
Anu Ora will focus on managing the Oilseed Products business and business development. Ora has previously been responsible for the Food Solutions business as well as the Oilseed Products business. In the future, CEO Esa Mäki will be in charge of the Food Solutions business.
CFO Tero Heikkinen is temporarily responsible for managing the Grain Trading business during Antti Snellman's temporary absence.
The other roles and responsibilities of the Management Team members remain unchanged. All members of the Management Team report to CEO Esa Mäki.
Apetit Plc
For more information, please contact:
CEO Esa Mäki, tel. +358 10 402 2100
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
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| 11.09.2019 |
Apetit Plc: Managers’ transactions
Apetit Plc, Managers’ transactions, 11 September 2019 at 11:15 a.m.
Säkylän Osuuspankki, which is a closely associated party to Apetit Plc’s vice chairman of the Supervisory Board, has disposed on 6 September 2019 Apetit Plc’s shares.
Apetit Plc - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Säkylän Osuuspankki
Position: Closely associated person
(X) Legal person
(1): Person Discharging Managerial Responsibilities in Issuer
Name: Marja-Liisa Mikola-Luoto
Position: Member of the Supervisory Board
Issuer: Apetit Oyj
LEI: 743700RSFZUIQYABYT14
Notification type: INITIAL NOTIFICATION
Reference number: 743700RSFZUIQYABYT14_20190911100938_7
____________________________________________
Transaction date: 2019-09-06
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009003503
Nature of the transaction: DISPOSAL
(X) Executed under portfolio or asset management
Transaction details
(1): Volume: 1,813 Unit price: 8.4513 EUR
(2): Volume: 415 Unit price: 8.4513 EUR
(3): Volume: 1,250 Unit price: 8.4513 EUR
(4): Volume: 155 Unit price: 8.48 EUR
(5): Volume: 83 Unit price: 8.48 EUR
(6): Volume: 376 Unit price: 8.44 EUR
(7): Volume: 167 Unit price: 8.44 EUR
(8): Volume: 167 Unit price: 8.44 EUR
(9): Volume: 113 Unit price: 8.46 EUR
(10): Volume: 30 Unit price: 8.46 EUR
Aggregated transactions
(10): Volume: 4,569 Volume weighted average price: 8.45131 EUR
Apetit Plc
For more information, please contact:
Asmo Ritala, Corporate counsel, tel. +358 10 402 4005
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. 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 seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.
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