Apetit PLC: announces 9M-2023 financial results

Helsinki / FI. (apg) Operating profit increased in both businesses, Finland’s Apetit Group says in its Business Review 01 January to 30 September (9M-2023). Sales volumes grew in Food Solutions in that period. CEO Esa Mäki: «In the third quarter, Apetit’s operating profit improved year-on-year. Both businesses improved their results. In Oilseed Products, positive profit performance was boosted by successful raw material sourcing. The operational efficiency of the bioenergy plant at the Kantvik vegetable oil milling plant has improved. In Food Solutions, positive profit performance resulted from good development in sales and price adjustments made in order to respond to the general rise in costs.»

Financial performance in brief

July to September 2023, continuing operations

  • In continuing operations comparable net sales were EUR 39.7 (45.2) million. Ebitda was EUR 4.0 (3.2) million. Operating profit was EUR 2.7 (1.7) million.
  • The net sales of Food Solutions were EUR 17.6 (15.2) million and operating profit EUR 2.3 (1.7) million.
  • The net sales of Oilseed Products were EUR 22.2 (30.3) million and operation profit EUR 1.1 (0.6) million.
January to September 2023, continuing operations
  • In continuing operations comparable net sales were EUR 132.9 (135.1) million. Ebitda was EUR 9.5 (4.7) million. Operating profit was EUR 5.4 (0.5) million.
  • The net sales of Food Solutions were EUR 53.9 (47.1) million and operating profit EUR 3.8 (2.4) million.
  • The net sales of Oilseed Products were EUR 79.4 (88.5) million and operating profit EUR 3.7 (-0.2) million.
July to September 2023, Group, inclusive discontinued operations
  • The Group’s comparable net sales were EUR 39.7 (45.5) million. Ebitda was EUR 4.0 (3.4) million. Operating profit was EUR 2.7 (1.9) million. The divestment of the Grain Trade business was completed on 31 May 2022.
  • The net sales of Grain Trade were EUR 0.0 (3.2) million and operating profit EUR -0.0 (0.2) million.
January to September 2023, Group, inclusive discontinued operations
  • The Group’s comparable net sales were EUR 132.9 (185.2) million. Ebitda was EUR 9.4 (8.0) million. Operating profit was EUR 5.3 (3.3) million.
  • The net sales of Grain Trade were EUR 0.0 (67.2) million and operating profit EUR -0.1 (2.8) 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 82.9 (80.6) per cent and gearing was -12.9 (-7.3) per cent. The Group’s cash flow from operating activities after interest and taxes was EUR 7.9 (21.5) million.
For additional information please read the company’s PDF file below (319 KB):

20231026-APETIT-PLC-9M-2023.