Apetit PLC: announces H1-2023 financial results

Helsinki / FI. (apg) Apetit’s operating profit improved year-on-year and sales volumes increased in both businesses, Finland’s Apetit Group announced in its H1-2023 statement as follows.

April-June 2023, continuing operations*)

• In continuing operations, comparable net sales were EUR 45.0 (47.3) million. Ebitda was EUR 2.0 (0.4) million. Operating profit was EUR 0.7 (-1.0) million. Decrease in net sales was due to Oilseed Products, of which the market prices were exceptionally high in the comparison period.
• The net sales of Food Solutions were EUR 16.7 (14.7) million and operating profit EUR -0.1 (-0.4) million. Sales volumes increased in all channels. Price increases made as a response to the general increase in costs influenced net sales development.
• The net sales of Oilseed Products were EUR 28.5 (32.8) million and operating profit EUR 1.4 (-0.2) million. Positive profit performance was boosted by raw material sourcing and active pricing efforts.

January-June 2023, continuing operations*)

• In continuing operations, comparable net sales increased by 4 percent to EUR 93.2 (89.9) million. Ebitda was EUR 5.5 (1.5) million. Operating profit was EUR 2.7 (-1.2) million.
• The net sales of Food Solutions were EUR 36.3 (31.9) million and operating profit EUR 1.5 (0.7) million.
• Net sales of Oilseed Products were EUR 57.2 (58.2) million and operating profit EUR 2.7 (-0.8) million.

April-June 2023, Group, inclusive discontinued operations**)

• Net sales decreased by 31 percent to EUR 45.0 (64.9) million. Ebitda was EUR 2.0 (2.8) million. Operating profit was EUR 0.6 (1.2) million.
• The net sales of Grain Trade were EUR 0.0 (21.9) million and operating profit EUR -0.1 (2.2) million.

January-June 2023, Group, inclusive discontinued operations**)

• Net sales decreased by 33 percent to EUR 93.2 (139.7) million. Ebitda was EUR 5.4 (4.6) million. Operating profit was EUR 2.6 (1.4) million.
• The net sales of Grain Trade were EUR 0.0 (64.0) million and operating profit EUR -0.1 (2.6) million.

*) Apetit’s continuing operations are Food Solutions and Oilseed Products. In addition, Apetit reports Group Functions, consisting of the expenses related to Group management, strategic projects and listing on the stock exchange, that are not allocated to the business segments.

**) Grain Trade is reported as a discontinued operation starting from the Q1/2022 Business Review. The divestment of the Grain Trade business was completed in stages during the first half of 2022.

The information in this report is unaudited. The figures in brackets refer to the corresponding period in 2022, and the comparison period means the corresponding period in the previous year, unless otherwise stated. For additional information please read the company’s PDF file below (239 KB):

20230818-APETIT-PLC-H1-2023.