Atria Oyj

Quarterly Report • Apr 28, 2010

Net sales	305.9
		310.7	1,316.0
EBIT	1.0	-0.4	27.5
EBIT % EBIT	0 3 0.3	-0.1 0 1	2 1 2.1
Profit before taxes	-1.8	-5.5	16,5
Earnings per share, €	-0.07	-0.14	0.25
ROCE, 12 months rolling	3.3	3.6	3.1

• In Russia, net sales increased year-on-year, thanks to the strengthened rouble

	Atria Finland Review Q1
€ Million	Q1 2010	Q1 2009	2009
Net sales	179.1	181.9	781.9
EBIT	4.9	7.1	42.9
EBIT %	2.7	3.9	5.5
ROCE, 12 months rolling	9.9	8.9	10.2
• Atria Finland's Q1 net sales were nearly at the same level year-on year • Atria Finland's net sales have developed satisfactorily in the declining market conditions
• EBIT for the first quarter of the year was lower compared with Q1/2009. The decrease was caused by higher energy costs and salary increases carried out in 2009. In addition, decreases in		sales prices have weighed down the performance

	Review Q1
€ Million	Q1 2010	Q1 2009	2009
Net sales	95.0	98.8	405.2
EBIT	0.6	1.2	10.0
EBIT %	0.6	1.2	2.5
ROCE, 12 months rolling	3.7	3.7	4.0
• Atria Scandinavia's net sales fell by 3.8%. This was mainly caused by the discontinuation of the salad and sandwich business in June 2009 and decreased sales of consumer-packed meat • The Q1/2010 EBIT includes EUR 2.0 million of non-recurring costs relating to the shutdown of the Årsta plant. EBIT without non-recurring costs is EUR 2.6 million (EUR 1.2 million)

Atria Russia Review Q1
€ Million	Q1 2010	Q1 2009	2009
Net sales	28.9	26.5	113.0
EBIT	-2 3 2.3	-7 0 7.0	-9 8 9.8
EBIT %	-8.0	-26.4	-8.7
ROCE, 12 months rolling	-3.5	-9.1	-6.9
• Atria Russia's net sales increased in Q1 by 9.1% year-on-year. This was due to the strengthening of the Russian rouble against the euro. In the local currency, net sales were at the same level as in Q1/2009 • Atria's market share in the St Petersburg area retail trade remained at a good level of about 20 per cent The market share in Moscow was good level of about 20 per cent. The market share in Moscow around two per cent (Source: Business Analytica 1-2.2010) • EBIT for the period was negative, EUR -2.3 million (EUR -4.3 million without non-recurring costs). This was the result of low sales volumes of

Atria Baltic	Review Q1
€ Million	Q1 2010	Q1 2009	2009
Net sales	7.6	8.8	37,5
EBIT	-1.2	-1.0	-12.6
EBIT %	-15.8	-11.4	-33.6
ROCE, 12 months rolling	-28.5	-8.2	-26.5
• Atria's net sales in Estonia fell slightly short year-on-year. The development of net sales was weighed down by continually declining overall demand in Estonia during the first quarter
• The performance of the Estonian operations was unsatisfactory. The losses resulted from weak sales and costs associated with efficiency improvement programmes
• Consumer-packed meat has considerably increased its market share, but Atria has lost some of its market share in meat products (Source: AC Nielsen)

Financial indicators	Atria Group
€ Million	31 Dec, 2010	31 March, 2009	31 Dec, 2009
Interest-bearing liabilities, M€	430.2	453.8	425.8
Total assets, M€	1,103.5	1,080.1	1,101.3
Equity ratio, %	40.2	39.1	39.7
Shareholders' equity per share, €	15.60	14.86	15.39
Personnel (average)	5,853	6,532	6,214
• Strengthened Swedish krona and Russian rouble increased the amount of interest-bearing liabilities by EUR 7.8 Million • Due to the positive translation difference the shareholders' equity increased during Q1
• Efficiency programmes in several business areas and the discontinuation of the business in Sweden reduced the amount of the personnel

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	Atria Group Income Statement
€ Million	Q1 2010	Q1 2009	2009
NET SALES	305.9	310.7	1,316.0
Cost of goods sold	-271.8	-279.0	-1,151.0
GROSS PROFIT	34.1	31.7	165.0
% of Net sales	11.1	10.2	12.5
Other income	0.8	1.0	4.6
Other expenses	-33.9	-33.1	-142.1
EBIT	1.0	-0.4	27.5
% of Net sales	0.3	-0.1	2.1
Financial income and expenses	-3.4	-5.3	-12.4
Income from associates	0.6	0.2	1.4
PROFIT BEFORE TAXES	-1.8	-5.5	16.5
Income taxes		1.5	-9.1
PROFIT FOR THE PERIOD	-1.8	-4,0	7.4
% of Net sales	-0.6	-1.3	0.6
Earnings/share,€	-0.07	-0.14	0.25
• Strengthened Swedish krona and Russian rouble as well as the better sales mix have improved the gross profit compared to Q1/2009

Q1 Q1 € Million 2010 2009 Cash flow from operating activities 2.7 -8.7 Financial items and taxes -6.8 -7.0 CASH FLOW FROM OPERATING ACTIVITIES -4.1 -15.7 I ti nves ng acti iti v es, t ibl ang e and intangible assets -12.4 -8.5 Investments -1.2 -1.7 CASH FLOW FROM INVESTING ACTITIVIES -13.6 -10.2 FREE CASH FLOW -17.7 -25.9 Loans drawn down 2.7 27.3 Loans repaid -3.5 -19.0	Atria Group Cash flow statement
		2009
		92.7
		-31.0
		61.7
		-32.3
		-1.8
		-34.1
		27.6
		41.8
		-64.8
Dividends paid		-5.7
Acquired treasury shares -0.7		-0.7
CASH FLOW FROM FINANCING, TOTAL -0.8 7.6		-29.4
CHANGE IN LIQUID FUNDS -18.5 -18.3		-1.8

• The relatively large amount of investments is the due to the completion of the Gorelovo production plant

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