Atria Oyj

Interim / Quarterly Report • Jul 25, 2013

Atria Group Review Q2/2013

EUR million	Q2 2013	Q2 2012	H1 2013	H1 2012	2012
Net sales	363.6	333.3	692.0	641.8	1,343.6
EBIT	7.7	5.7	10.9	5.8	30.2
EBIT % EBIT	2 1 2.1	1 7 1.7	1 6 1.6	0 9 0.9	2 2 2.2
Profit before taxes	4.1	2.8	4.8	-0.2	18.9
Earnings per share, €	0.10	0.05	0.06	-0.14	0.35
Extraordinary items*	0.0	0.0	1.1	0.0	-0.5

* Extraordinary items are included in the reported figures.

1 January – 30 June 2013

• Consolidated EBIT was EUR 10.9 million (EUR 5.8 million).
• Atria Finland's EBIT was EUR 14.1 million (EUR 13.0 million).
• At i S di i ' EBIT EUR 1 8 illi (EUR 1 9 illi ) - Atria Scandinavia's EBIT was 1.8million 1.9million).
• Atria Russia's EBIT was EUR -2.8 million (EUR -5.3 million).
• Atria Baltic's EBIT was EUR -0.4 million (EUR -0.9 million). - The Group's equity ratio was 40.6 per cent (31 December 2012: 41.5 %).

1 April – 30 June 2013

• Atria Finland's net sales totalled EUR 230.9 million (EUR 204.6 million), up by EUR 26.3 million year-on-year. - Atria Russia's net sales totalled EUR 0.4 million (EUR -2.0 million), up by EUR 2.4 million year-on-year.

Atria Finland Review Q2/2013

EUR million	Q2 2013	Q2 2012	H1 2013	H1 2012	2012
Net sales	230.9	204.6	436.0	393.0	819.5
EBIT	7 4 7.4	7 8 7.8	14 1 14.1	13 0 13.0	36 5 36.5
EBIT %	3.2	3.8	3.2	3.3	4.5
Extraordinary items*	0.0	0.0	1.1	0.0	-0.5

*Extraordinary items are included in the reported figures.

• Atria Finland's net sales for January–June increased by EUR 43.0 million.
• EBIT was EUR 14.1 million (EUR 13.0 million).
• EBIT includes a non-recurring profit of EUR 1.1 million resulting from a reversal of impairment on a property that had been for sale in Forssa reversal of impairment on a property that had been for sale Forssa.
• Net sales and market share strengthened significantly during the period under review in both retail trade and the Food Service market.

25 July 2013 3

• The high price of domestic meat raw material and the decrease in export prices due to the weakening of the global meat market weighed down the growth in EBIT.

Atria Scandinavia Review Q2/2013

EUR million	Q2 2013	Q2 2012	H1 2013	H1 2012	2012
Net sales	98.1	95.0	192.3	184.5	387.8
EBIT	1 8 1.8	1 8 1.8	1 8 1.8	1 9 1.9	8 2 8.2
EBIT %	1.8	1.9	0.9	1.1	2.1
Extraordinary items*	0.0	0.0	0.0	0.0	0.0

*Extraordinary items are included in the reported figures.

• Atria Scandinavia's net sales for January–June totalled EUR 192.3 million (EUR 184.5 million). In the local currency, net sales grew by 1.2 per cent year-on-year.
• EBIT for January–June was EUR 1.8 million (EUR 1.9 million).
• The high prices of meat raw material and the increased marketing efforts weighed down EBIT development. The development of net sales was affected by the intensification of competition with retailers' private labels.

Atria Russia Review Q2/2013

	Q2	Q2	H1	H1
EUR million	2013	2012	2013	2012	2012
Net sales	31.5	31.3	58.9	59.6	126.3
EBIT	0 4 0.4	-2.0 2 0	-2.8 2 8	-5.3 5 3	-8.6 8 6
EBIT %	1.2	-6.4	-4.7	-9.0	-6.8
Extraordinary items*	0.0	0.0	0.0	0.0	0.0

*Extraordinary items are included in the reported figures.

• Atria Russia's net sales for January–June totalled EUR 58.9 million (EUR 59.6 million). EBIT for January–June was EUR -2.8 million (EUR -5.3 million), up by EUR 2.5 million year-on-year.
• EBIT for April June was EUR 0 4 million (EUR 2 0 million) up by EUR 2 4 million • EBIT for April–June was 0.4million -2.0million), up by 2.4year-on-year.
• The result for industrial operations improved considerably and the launched efficiency improvement measures generated the planned profits. The weakening of primary production profitability, which started at the end of last year, weighed down first-half profits.

				Overview of the consumer goods markets
	Top 10 European markets 2012			Top 10 global markets 2012
Rank Rank	Country Country	Grocery retail market (US \$bn) k t (US \$b )	Rank	Country y	Grocery retail market (US \$bn) market (US
1	Russia	314.1	1	China	1,082.3
2	France	238.7	2	USA	940.3
3	Germany	271.1	3	Japan	408.3
4	United Kingdom	242.7	4	India	375.2
5	Italy	165.3	5	Brazil	329.5
6	Spain p	121.8	6	Russia uss a	314.1 3
7	Turkey	87.0	7	France	283.7
8	Switzerland	59.6	8	Germany	271.1
9	Poland	48.6	9	United Kingdom	242.7
10	Belgium	46.4	10	Indonesia	168.4
				Source: IGD Datacentre	25 July 2013 9

Overview of the consumer goods markets

EUR million	Q2 2013	Q2 2012	H1 2013	H1 2012	2012
Net sales	9.3	9.1	16.6	17.0	34.2
EBIT	0.0	-0.4	-0.4	-0.9	-1.5
EBIT %	-0.2	-4.3	-2.2	-5.4	-4.4
Extraordinary items*
	0.0	0.0	0.0	0.0	0.0
*Extraordinary items are included in the reported figures. Atria Baltic's net sales for January–June totalled EUR 16.6 million (EUR 17.0 million). EBIT for January–June was EUR -0.4 million (EUR -0.9 million). Net sales for April–June totalled EUR 9.3 million (EUR 9.1 million). EBIT was EUR 0.0 million (EUR -0.4 million).

Atria Group	Financial indicators
	EUR million	30.6.2013		30.6.2012 31.12.2012
	Shareholders' equity per share, EUR	14.78	14.59	15.15
	Inte es r t-bea es ring liabilities g ab	382.6	425.1	370.5
	Equity ratio, %	40.6	39.1	41.5
	Gearing, %	90.8	102.3	85.9
	Net gearing, %	86.5	101.0	84.3
	Gross investments in fixed assets	20.7	25.7	56.2
	Gross investments, % of net sales	3.0	4.0	4.2
	Average number of employees	4,749	5,038	4,898
	• In March Atria issued a fixed-interest bond worth EUR 50 million.
	• In June Atria refinanced a committed credit facility of EUR 50 million due in September 2015. The maturity of the new credit facility is five years.
	• On 30 June 2013, the amount of the Group's undrawn committed credit facilities stood at EUR 197.8 million (31 December 2012: EUR 153 million). The average maturity of loans and committed credit facilities at the end of the period under review was 2 years 10 months (31 December 2012: 2 years 10 months).

Atria Group Income Statement

	Q2	Q2	H1	H1
EUR million	2013	2012	2013	2012	2012
NET SALES	363.6	333.3	692.0	641.8	1,343.6
Cost of goods sold	-318.0	-290 4.	-609.8	-565 7.	-1 172 5 1,172.5
GROSS PROFIT	45.6	42.9	82.1	76.1	171.1
% of Net sales	12.5	12.9	11.9	11.9	12.7
Other income	0.6	0.6	2.2	1.2	3.8
Other expenses	-38.5	-37.9	-73.4	-71.5	-144.7
EBIT	7.7	5.7	10.9	5.8	30.2
% of Net sales	2.1	1.7	1.6	0.9	2.2
Financial income and expenses	-4.1	-3.8	-7.6	-7.3	-14.7
Income from joint-ventures and associates	0.5	0.9	1.5	1.3	3.4
PROFIT BEFORE TAXES PROFIT BEFORE	4.1	2.8	4.8	-0.2 0.2	18.9
Income taxes	-1.3	-1.5	-2.9	-3.8	-8.8
PROFIT FOR THE PERIOD	2.8	1.3	1.9	-4.0	10.1
% of Net sales	0.8	0.4	0.3	-0.6	0.7
Earnings/share, €	0.10	0.05	0.06	-0.14	0.35

Atria Group
Cash flow statement
EUR million	H1 2013	H1 2012	2012
Cash flow from operating activities Financial items and taxes	29.3 -12 4.	17.3 -4 6.	119.2 -19 6.
Net cash flow from operating activities	16.9	12.7	99.6
Investing activities, tangible and intangible assets Acquired subsidiary shares	-19.7	-24.6	-50.4 -1.8
Change in non-current receivables Investments	-0,2 1.9	1.1 1.1	0.9 1.4
Net cash used in investing activities	-17.9	-22.3	-50.0
FREE CASH FLOW	-1.0	-9.6	49.7
Proceeds from non-current borrowings Repayments of non-current loans and	50.0	30.0	50.0
changes in current loans	-30.9	-16.3	-94.6
Dividends paid	-6.2	-5.6	-5.6
Net cash used in financing activities	12.9	8.1	-50.2
CHANGE IN LIQUID FUNDS	11.9	-1.5	-0.6