Finnish meat processor reports strong sales growth

By Nicholas Robinson

- Last updated on GMT

Related tags: Net sales, Sales, Atria, Beef, Pork, Poultry

Meat processor Atria reports strong sales growth
Meat processing company Atria Group has recorded strong growth of €19.8m in its net sales for the first quarter of 2013.

According to the Finnish company, net sales figures from 1 January to 31 March totalled €328.4m, with earnings before interest and taxes (EBIT) of €1.1m, the result of the company reversing the sale of a property.

The group also issued a €50m bond with a fixed interest rate during the first quarter, which will be used to refinance its “general financing needs”.

Finland

Sales for the company’s Finland-based operations for Q1 totalled €205.1m and were up by €16.6m year-on-year. While there was also an improvement on EBIT of €1.5m year-on-year, amounting to €6.7m.

Referring to sales in Finland the company said: “Higher sale prices and slightly higher sales volumes also improved EBIT. The prices of meat raw materials continued to rise.”

Scandinavia

Net sales for Atria’s Scandinavian operation for January to March this year were €94.2m, an increase of €4.7m year-on-year.  EBIT was €0.2m.

“The prices of meat raw materials have remained high, which impaired EBIT development,”​ said the company

Russia and the Baltics

Meanwhile, operations in Russia saw net sales in Q1 amount to €27.4m, which was a decrease of 1% year-on-year.

EBIT was also down by €3.1m, which was the result of “improved”​ industrial operations. However, Atria said: “The weakening of primary production profitability, which started in the latter part of last year, continued to impair performance at the beginning of the year.”

Poor performance continued in the company’s Baltics operation and net sales in Q1 saw a reduction of €0.7m year-on-year, totalling €7.2m, but the company noted that this was a year-on-year improvement of €0.1m.

Appointment

After posting the results, the company held a “constitutive”​ meeting to appoint new members to its supervisory board.

As a result, Hanni Hyry was elected as chairman and Juhno Anttikoski was re-elected as deputy chairman of the supervisory board.

Related topics: Meat

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