Helsinki / FI. (apg) Finland’s Apetit PLC announced its financial statements release, covering the period 01 January to 31 December (FY-2022). Apetit’s Q4 result from continuing operations improved year-on-year, the company announced in its statement. Summary:
October-December 2022, continuing operations
- Net sales amounted to EUR 46.6 (40.3) million. Ebitda was EUR 4.5 (2.2) million. Operating profit was EUR 3.0 (0.7) million. Net sales increased due to an active increase in selling prices.
- The net sales of Food Solutions were EUR 17.1 (15.6) million and operating profit EUR 1.8 (1.9) million. Price increases were introduced in retail primarily from the beginning of October, while cost inflation was reflected in higher production costs.
- The net sales of Oilseed Products were EUR 29.7 (24.9) million and operating profit EUR 1.7 (-0.4) million. The result was improved by the increased selling prices and the good availability of raw material.
January-December 2022, continuing operations
- Net sales were EUR 181.7 (149.1) million. Ebitda was EUR 9.2 (11.1) million. Operating profit was EUR 3.5 (5.8) million. The result was negatively affected by higher raw material and energy costs.
- The net sales of Food Solutions were EUR 64.2 (61.5) million and operating profit EUR 4.2 (5.9) million. The increased costs were passed on to selling prices with a delay. Sales volumes remained at the comparison year’s high level in retail and increased in the food service sector and exports.
- The net sales of Oilseed Products were EUR 118.2 (88.1) million and operating profit EUR 1.5 (2.0) million. Selling prices increased along with market prices, which increased net sales in spite of the sales volume decreasing from the record-high level seen in the comparison year. The low availability of domestic raw material reduced profitability particularly in the first half of the year.
October-December 2022, Group, incl. discontinued operations
- The Group’s comparable net sales decreased by 44 per cent to EUR 46.6 (83.0) million. Ebitda was EUR 4.4 (2.2) million. Operating profit was EUR 2.9 (0.5) million. The divestment of the Grain Trade business was completed in stages during the first half of the year.
- The net sales of Grain Trade was EUR 0.0 (48.0) million and operating profit EUR -0.1 (-0.3) million.
January-December 2022, Group, incl. discontinued operations
- The Group’s comparable net sales decreased by 18 per cent to EUR 231.8 (283.9) million. Ebitda was EUR 12.4 (9.2) million. Operating profit was EUR 6.2 (2.8) million.
- The net sales of Grain Trade were EUR 67.2 (164.5) million and operating profit EUR 2.7 (-3.0) million. The divestment of the Grain Trade business was completed in stages during the first half of the year.
- The Group’s liquidity was good, and its financial position was strong. The equity ratio was 81.8 (59.4) per cent and gearing was -13.2 (26.6) per cent. The Group’s cash flow from operating activities after interest and taxes was EUR 28.4 (5.0) million. The change was mainly attributable to the divestment of the Grain Trade business.
For additional information please read the Company’s PDF file below (182 KB):
20230217-APETIT-FY-2022.