Atria Oyj

	Review 1 January – 30 September 2011	Atria Group
		Q3	Q3	Q1-Q3	Q1-Q3
	€ Million	2011	2010	2011	2010	2010
	Net sales	325.5	331.3	963.1	954.2	1,300.9
	EBIT	9.0	-0.4	3.8	5.3	9.8
	EBIT %	2.8	-0.1	0.4	0.6	0.8
	Profit before taxes	5.4	-3.0	-5.5	-1.3	0.3
	Earnings per share, €	0.13	-0.22	-0.21	-0.19	-0.18
• • • Th • • • • •	Atria Group's performance improved toward the end of the review period Net sales increased by 0.9% compared with the previous year The operating profit for the period amounted to EUR 3.8 million (EUR 5.3 million) The EBIT for Q3 came to EUR 9.0 million (EUR -0.4 million), which shows a clear EBIT f Q3 improvement on the previous two quarters The Group's equity ratio is at the target level: 39.8 % (40.1%) Tight cost control in all business areas strengthened the Group's performance The international meat market stabilised, resulting in an increase in sales prices for pork, which had a positive effect on the performance of Atria Finland Atria Russia's loss for Q3 decreased compared to Q1 and Q2.	EUR 9 0	illi	(EUR 0 4	illi )	hi h	h l

	Review 1 January – 30 September 2011	Atria Finland
		Q3	Q3	Q1-Q3	Q1-Q3
	€ Million	2011	2010	2011	2010	2010
	N t e sales	197 5.	195 9.	586 8.	553 9.	767 8.
	EBIT	9.0	11.9	12.2	22.9	30.7
	EBIT %	4.6	6.1	2.1	4.1	4.0
• cent • • •	Atria Finland's Q1-Q3 net sales increased year-on-year by 5.9 per EBIT for the first three quarters weakened significantly on the previous year During Q3, operating profit development turned positive and showed a clear improvement on the previous two quarters The reason for the clear improvement in earnings compared to the previous quarters of the year is tight cost control and stabilisation in the meat market at the end of Q3 . Moreover, sales development was positive during Q3.

	Q3	Q3	Q1-Q3	Q1-Q3
€ Million	2011	2010	2011	2010	2010
N t e sales	93 5.	98 9.	277 1.	293 6.	391 6.
EBIT	4.7	4.3	9.7	8.3	13.9
EBIT %	5.0	4.4	3.5	2.8	3.5
					principal reason for the decline in net sales is the discontinuation of

	Review 1 January – 30 September 2011
		Q3	Q3	Q1-Q3	Q1-Q3
	€ Million	2011	2010	2011	2010	2010
	Net sales	31.0	33.7	91.8	97.0	129.2
	EBIT	-3.3	-15.4	-14.5	-20.3	-27.9
	EBIT %	-10.7	-45.6	-15.8	-20.9	-21.6
•	Atria Russia's net sales for the period decreased by 5.4 per cent year-on-year. This was due to a decrease in sales in Moscow. In Q3/2011, the weakened rouble impaired the growth of net sales

	Review 1 January – 30 September 2011	Atria Baltic
	Q3	Q3 Q1-Q3	Q1-Q3
€ Million	2011	2010 2011	2010	2010
Net sales	9 0 9.0	8 7 8.7 26 3 26.3	26 2 26.2	35 0 35.0
EBIT	-0.4	-0.9 -0.4	-3.0	-3.7
EBIT %	-4.8	-10.3 -1.5	-11.3	-10.5
Q3/2010 The EBIT showed clear improvement on the previous year				The positive development of earnings was due to good cost control and an improved sales structure, as well as non-recurring sales gains. EBIT for the first three quarters of the year includes a total of EUR 0.9 million of non

Atria Group Financial indicators
€ Million	30.9.2011	30.9.2010	31.12.2010
Shareholders' equity per share, EUR	14.74	15.41	15.68
It t n erest-b li biliti bearing liabilities i	423 5.	449 2.	429 9.
Equity ratio, %	39.8	40.1	40.2
Gearing, %	101.0	102.4	96.4
Net gearing, %	98.9	100.7	92.2
Gross investments in fixed assets	36.9	34.2	46.2
Gross investments, % of net sales	3.8	3.6	3.5
Average number of employees Average number of (FTE)	5,550	5,811	5,812
• Equity ratio on the target level • The value of undrawn committed credit facilities stood at EUR 155.5 million (EUR 59.9 million) • The average maturity of loans drawn and committed credit facilities stood at 3 years 3 months (3 years 5 months).

		Atria Group		Income Statement
		Q3		Q1-Q3
	€ Million	2011	2010	2011	2010	2010
	NET SALES	325.5	331.3	963.1	954.2	1,300.9
	Cost of goods sold	-288 3.	-290 0.	-862 1.	-840 8.	-1 149 1 1,149.1
	GROSS PROFIT	37.2	41.3	101.0	113.4	151.8
	% of Net sales	11.4	12.5	10.5	11.9	11.7
	Other income	1.4	4.1	5.0	6.3	7.7
	Other expenses	-29.6	-45.8	-102.1	-114.4	-149.7
	EBIT	9.0	-0.4	3.8	5.3	9.8
	% of Net sales	2.8	-0.1	0.4	0.6	0.8
	Financial income and expenses Income from	-3.8	-2.9	-10.3	-7.9	-11.2
	associates	0.2	0.3	1.0	1.3	1.7
	PROFIT BEFORE TAXES	5.4	-3.0	-5.5	-1.3	0.3
	Income taxes	-1.6	-2.8	-0.4	-3.1	-4.5
	PROFIT FOR THE PERIOD	3.9	-5.8	-5.9	-4.4	-4.2
	% of Net sales	1.2	-1.7	-0.6	-0.5	-0.3
	Earnings/share, €	0.13	-0.22	-0.21	-0.19	-0.18
21

Atria Group Cash flow statement
	Q1-Q3
€ Million	2011	2010	2010
Cash flow from operating activities	36.8	31.4	85.5
Financial items and taxes	-8 2.	-26 9.	-40 9.
CASH FLOW FROM OPERATING
ACTIVITIES	28.6	4.5	44.6
Investing activities, tangible and
intangible assets	-24.0	-29.7	-39.6
Sold subsidiary	2.0
Bought subsidiary	-6.1
Investments	-1.1	-5.1	-0.6
CASH FLOW FROM INVESTING
ACTITIVIES	-29.2	-34.8	-40.2
FREE CASH FLOW FREE CASH	-0 6 0.6	-30 3 30.3	4 4 4.4
Loans drawn down	50.0	40.8	40.8
Loans repaid	-51.7	-32.2	-56.2
Dividends paid	-7.0	-7.1	-7.0
CASH FLOW FROM FINANCING,
TOTAL	-8.8	1.5	-22.4
CHANGE IN LIQUID FUNDS	-9.4	-28.8	-18.0

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