Apetit Oyj

Business and Financial Review • Aug 16, 2019

Disclosure 374070

Apetit Oyj - Other information disclosed according to the rules of the Exchange

Apetit Group’s updated comparison data

Apetit Plc, Stock Exchange Release 16.8.2019 at 8.25 a.m. On 10 July 2019, Apetit announced that it has agreed to sell its fresh cut products business, part of the Food Solutions segment to the Swedish company Greenfood AB. The transaction is expected to be completed in the second half of 2019. To be completed, the transaction requires the approval of the competition authorities. As a result of the agreement, Apetit reports the sold business operations as a discontinued operation. In addition to Fresh Cut Foods, discontinued operations include the Seafood segment. The Seafood segment is included for 2018, the comparison year, and its impact is limited to financial items. The updated comparison data on continuing and discontinued operations for 2018 and the first quarter of 2019 are presented in the tables below. Updated comparison data by segment are presented for both half-years of 2018. The data are unaudited. NET SALES EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019 Continuing 57.3 72.1 77.8 71.2 278.3 71.1 operations Intra-group -3.6 -5.4 -7.0 -2.5 -18.4 -0.1 net sales Total 53.7 66.7 70.7 68.7 259.9 71.0 Discontinued 6.0 6.1 5.8 5.4 23.2 5.4 operations Group Total 59.7 72.8 76.6 74.0 283.1 76.4 OPERATIONAL EBITDA EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019 Continuing 0.9 1.1 2.0 1.6 5.6 2.0 operations Discontinued -0.3 -0.2 0.0 -0.3 -0.8 -0.2 operations Group Total 0.6 0.9 2.0 1.3 4.8 1.8 OPERATIONAL EBIT EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019 Continuing -0.1 0.1 1.1 0.6 1.6 0.8 operations Discontinued -0.7 -0.7 -0.5 -0.8 -2.6 -0.5 operations Group Total -0.8 -0.6 0.6 -0.2 -1.0 0.3 OPERATING PROFIT EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019 Continuing -0.7 -2.0 2.0 1.2 0.5 0.0 operations Discontinued -0.7 -0.7 -0.5 -5.5 -7.4 -0.5 operations Group Total -1.4 -2.7 1.5 -4.3 -6.9 -0.6 INVESTMENTS EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019 Continuing 0.7 0.9 0.7 3.8 6.1 2.4 operations Discontinued 0.1 0.2 0.1 0.2 0.6 0.1 operations Group Total 0.8 1.1 0.8 4.1 6.7 2.5 DEPRECIATIONS AND IMPAIRMENTS EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019 Continuing 1.0 1.0 1.0 1.0 4.0 1.2 operations Discontinued 0.5 0.5 0.5 5.2 6.5 0.3 operations Group Total 1.4 1.5 1.5 6.2 10.6 1.6 UPDATED SEGMENT INFORMATION NET SALES EUR million H1/2018 H2/2018 2018 Continuing operations Food Solutions 37.9 36.3 74.2 Oilseed 33.8 33.0 66.7 Products Grain Trade 57.8 79.6 137.4 Intra-group -9.0 -9.5 -18.4 net sales Total 120.5 139.4 259.9 Discontinued 12.0 11.2 23.2 operations Group Total 132.5 150.6 283.1 OPERATIONAL EBIT EUR million H1/2018 H2/2018 2018 Continuing operations Food Solutions 0.0 2.4 2.3 Oilseed 1.0 1.2 2.2 Products Grain Trade -0.9 -2.0 -2.9 Total 0.0 1.6 1.6 Discontinued -1.4 -1.2 -2.6 operations Group Total -1.4 0.4 -1.0 OPERATING PROFIT EUR million H1/2018 H2/2018 2018 Continuing operations Food Solutions -1.4 3.9 2.5 Oilseed 1.0 1.3 2.2 Products Grain Trade -2.2 -2.0 -4.2 Total -2.7 3.2 0.5 Discontinued -1.4 -6.0 -7.4 operations Group Total -4.1 -2.8 -6.9 INVESTMENTS EUR million H1/2018 H2/2018 2018 Continuing operations Food Solutions 1.2 3.8 5.0 Oilseed 0.4 0.6 1.0 Products Grain Trade 0.1 0.1 0.1 Total 1.6 4.5 6.1 Discontinued 0.2 0.4 0.6 operations Group Total 1.8 4.9 6.7 DEPRECIATIONS AND IMPAIRMENTS EUR million H1/2018 H2/2018 2018 Continuing operations Food Solutions 1.4 1.4 2.8 Oilseed 0.4 0.4 0.9 Products Grain Trade 0.2 0.2 0.4 Total 2.0 2.0 4.0 Discontinued 0.9 5.6 6.5 operations Group Total 2.9 7.7 10.6 PERSONNEL Average FTE H1/2018 H2/2018 2018 Continuing operations Food Solutions 337 348 348 Oilseed 47 47 47 Products Grain Trade 62 62 62 Total 446 457 457 Discontinued 117 107 107 operations Group Total 563 564 564 Apetit Plc For further information, please contact: Tero Heikkinen, CFO, tel. +358 10 402 2310 Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. We create well-being with vegetables by offering healthy and tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and rapeseed expellers for feeding stuff, and trade grain on the international markets. Apetit seeks to lead the way in vegetable -based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.