Atria Oyj

Business and Financial Review • Feb 18, 2010

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Atria Finland Review 2009
€ Million	2009	2008	Q4 2009	Q4 2008
Net sales	781.9	797.9	207.5	206.2
EBIT	42.9	33.9	11.2	11.8
EBIT-%	5.5	4.2	5.4	5.7
• Net sales were down by 2 per cent in comparison to the previous year • EBIT was in accordance with targets; growth to the previous year came to 26.5 per cent
• The positive development is due to long term cost management and optimisation of product selection

Q4 Q4 € Million 2009 2008 2009 2008 Net sales 405.2 455.2 98.8 112.4 EBIT 10.0 14.4 3.4 -1.2 EBIT-% 2.5 3.2 3.4 -1.1 • Net sales declined by 11.0 per cent in comparison to the previous year. The main reason for the decline in net sales was the weak exchange rate of the Swedish krona. Calculated in fixed currencies, the decrease in net sales was 3.5 per cent weak exchange rate of the Swedish krona, which kept the prices of imported raw materials high. includes EUR 2.9 million of non-recurring costs associated with the discontinuation of the salad and sandwich business.	Atria Scandinavia Review 2009
	• EBIT was clearly lower than in the previous year. The fall in EBIT is
	mainly a result of the loss-making salad and sandwich business and the
	• Atria Scandinavia's EBIT for the year came to EUR 10.0 million, which

	Atria Russia	Review 2009
	€ Million	2009	2008	Q4 2009	Q4 2008
	Net sales	113.0	93.8	29.8	35.5
	EBIT	-9.8	-3.4	-0.4	-5.7
	EBIT-%	-8.7	-3.6	-1.3	-16.1
demand for meat products declined by the end of the year • A significant proportion of the growth came from the merger of Campomos, acquired in 2008, with Atria. In addition, net sales were boosted by Pit Product's increased sales and price increases (about 10 %)
• Atria Russia's operating loss for the year came to EUR 9.8 million, which includes EUR 3.0 million of non-recurring takeover and integration costs associated with Campomos
• The unhealthy cost structure and unprofitable products and customerships of Campomos, and the non-recurring costs of corrective measures, significantly weakened Atria Russia's operating result in the first two quarters
	• Due to the efficiency improvement measures launched during the year, Atria Russia's result improved quickly, and the result for the last two quarters only showed a slight loss
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Atria Baltic Review 2009
€ Million	2009	2008	Q4 2009	Q4 2008
Net sales	37.5	32.3	9.0	10.8
EBIT	-12.6	-3.8	-9.1	-0.7
EBIT-%	-33.6	-11.8	-101.1	-6.5
summer 2008 • The performance of the Estonian operations was unsatisfactory. The losses resulted from weak sales and costs associated with efficiency improvement programmes of the new companies acquired during 2008. Atria Baltic's operating loss for the year came to EUR 12.6 million, which includes EUR 7.2 million of non-recurring costs
• The demand in the retail trade declined by a total of 17 per cent, and the demand for food declined by 9 per cent (Source: Estonian Statistical Board)

Income	Atria Group Statement
€ Million	Q4 2009	Q4 2008	2009	2008
NET SALES	340.4	361.1	1,316.0	1,356.9
Cost of goods sold	-297.2	-325.3	-1,151.0	-1,198.4
GROSS PROFIT	43.2	35.8	165.0	158.5
% of Net sales	12.7	9.9	12.5	11.7
Other income	1.6	1.4	4.6	3.7
Other expenses	-40.9	-33.4	-142.1	-123.8
EBIT	3.9	3.8	27.5	38.4
% of Net sales	1.1	1.1	2.1	2.8
Financial income and expenses	-1.2	-12.2	-12.4	-22.3
Income from associates	0.5		1.4	0.6
PROFIT BEFORE TAXES	3.2	-8.4	16.5	16.7
Income taxes	-4.6	2.2	-9.1	-5.3
PROFIT FOR THE PERIOD	-1.4	-6.2	7.4	11.4
% of Net sales	-0.4	-1.7	0.6	0.8
Diluted earnings/share	-0.04	-0.21	0.25	0.42

	Atria Group Cash flow		statement
	€ Million	2009	2008
	Cash flow from operating activities	92.7	69.9
	Financial items and taxes	-31.0	-32.3
	CASH FLOW FROM OPERATING ACTIVITIES, TOTAL	61.7	37.6
	Investing activities, tangible and intangible assets	-32.3	-65.5
	Sold/bought shares in subsidiaries		-41.3
	Investments	-1.8	3.6
	CASH FLOW FROM INVESTING ACTITIVIES, TOTAL	-34.1	-103.2
	FREE CASH FLOW	27.6	-65.6
	Loans drawn down	41.8	171.7
	Loans repaid	-64.8	-86.0
	Dividends paid	-5.7	-19.8
	Acquired treasury shares	-0.7	-0.9
	CASH FLOW FROM FINANCING, TOTAL	-29.4	65.0
	CHANGE IN LIQUID FUNDS	-1.8	-0.6
•	The Group's free cash flow for Q4/2009 was EUR 26.5 million positive
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