Apetit PLC: announces 9M-2022 financial results

Helsinki / FI. (apg) The result of the company was lower than in the comparison period due to increase in costs. In Oilseed Products, the result improved, Finland’s Apetit Group announced in its Q3-2022 statement. Financial performance in brief:

July to September 2022, continuing operations

  • In continuing operations comparable net sales increased by 20 per cent to EUR 45.2 (37.8) million. Ebitda was EUR 3.2 (3.6) million. Operating profit was EUR 1.7 (2.3) million.
  • The net sales of Food Solutions was EUR 15.2 (15.2) million and operating profit EUR 1.7 (2.5) million.
  • The net sales of Oilseed Products was EUR 30.3 (22.8) million and operating profit EUR 0.6 (0.3) million.

January to September 2022, continuing operations

  • In continuing operations comparable net sales increased by 24 per cent to EUR 135.1 (108.7) million. Ebitda was EUR 4.7 (9.0) million. Operating profit was EUR 0.5 (5.0) million.
  • The net sales of Food Solutions was EUR 47.1 (45.9) million and operating profit EUR 2.4 (4.0) million.
  • The net sales of Oilseed Products was EUR 88.5 (63.2) million and operating profit EUR -0.2 (2.5) million.

July to September 2022, Group, inclusive discontinued operations

  • The Group’s comparable net sales decreased by 29 per cent to EUR 45.5 (64.5) million. Ebitda was EUR 3.4 (4.2) million. Operating profit was EUR 1.9 (2.6) million. The divestment of the Grain Trade business was completed on 31 May 2022.
  • The net sales of Grain Trade was EUR 3.2 (40.3) million and operating profit EUR 0.2 (0.4) million.

January to September 2022, Group, inclusive discontinued operations

  • The Group’s comparable net sales decreased by 8 per cent to EUR 185.2 (200.9) million. Ebitda was EUR 8.0 (7.0) million. Operating profit was EUR 3.3 (2.3) million.
  • The net sales of Grain Trade was EUR 67.2 (116.5) million and operating profit EUR 2.8 (-2.7) million. The divestment of the Grain Trade business was completed on 31 May 2022.
  • The Group’s liquidity was good, and its financial position was strong. The equity ratio was 80.6 (54.3) per cent and gearing was -7.3 (37.0) per cent. The Group’s cash flow from operating activities after interest and taxes was EUR 21.5 (-4.0) million.

For additional information please read the company’s PDF file below (262 KB):

20221025-APETIT-9M-2022
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