Atria Oyj

Earnings Release • Feb 13, 2025

• Atria Sweden in particular improved its EBIT EUR +10.2 million: increased net sales, the centralisation of production and organisational structure improved the EBIT. • Atria Finland record-high result barbecue season, the efficiency measures and the favourable sales structure improved the result. • Atria Estonia's profitability improved: the net sales increased and the market position • Significant improvement in • The results of the employee • Preparation of the new Group improved their full-year earnings

in 2024

• EUR 15.8 million
• the streamlining of the
• EUR 60.4 million: a successful
• 2

• strengthened.

• been fully commissioned. The new plant will significantly improve production efficiency.

• to China was confirmed and the first deliveries began at the end of December.
• Sweden's profitability
• satisfaction survey have improved.
• strategy started.

2025 is expected to be lower than in the previous year (EUR 65.4 million).

• The Board of Directors proposes that a dividend of EUR 0.69 be paid for each share for the 2024 financial period. Proposal for dividends

4

Atria Finland

• Good performance is based on a successful barbecue season, the efficiency measures carried out, the favourable sales structure and the smooth commissioning of the new poultry plant.
• the feed business.
• growth was volume-driven. The first deliveries of chicken meat to China started at the end of December.
• from the Sahalahti plant has been transferred to Nurmo.
• (Well Beef Ltd) and now holds 100% of its shares.

11

11

Q4/2024 Key Figures Q1-Q4/2024 Key Figures 89.3 +11.0% 0.5 Net sales, EUR million Net sales development Adjusted EBIT, EUR million Atria Sweden +0.8 Adjusted EBIT development,EUR million 0.6% (-0.3%) 12 4.5 Net sales, EUR million Net sales EUR million development, EUR million (-1.7%)

• In Atria Finland record-high result, EUR 60.4 million. • The decrease in net sales was mainly the result of lower sales prices in • Net sales from exports were higher than in the previous year, and export • Atria's new poultry plant has been fully commissioned, and production • In April, Atria acquired 10% of the shares in Kaivon Liha Kaunismaa Oy • In January, Atria sold 70% of its shares in its subsidiary Best-In Oy to SaVe Logistiikka Oy. Best-In Oy produces pet food.

Adjusted EBIT % 360.2 +9.0% developmentAdjusted EBIT, +10.2 Adjusted EBIT 1.3% Adjusted EBIT % 12

Atria Sweden

• Atria Sweden's EBIT grew significantly, EUR +10.2 million.
• Net sales and EBIT increased significantly, mainly thanks to higher sales to Foodservice and retail customers.
• The closure of the Malmö plant in Sweden in 2023, the changes in the organisational structure have improved the profitability.
• Atria Sweden's new organisational model for improving performance was introduced in March. Improving efficiency will result in annual savings of approximately EUR 2.5 million.
• Atria acquired the Swedish Gooh! convenience food business in May. The integration of the business with Atria Sweden was completed in the autumn.

13

13

Atria Denmark & Estonia

Net sales, EUR million

1.2

EUR million

3.9% (4.4%) 14

Net sales development Net sales,

-0.1

(2.4%)

development,EUR million 5.3

• EUR 2.3 million, from the previous year.
• sales to retail customers. The most significant increase in sales came from cold cuts and sausages.
• the additional costs arising from the production efficiency programme had a negative impact on EBIT. Exports grew from the previous year.
• two pig farms in Southern Estonia in February.
• improve profitability. A significant investment was made in the production process of whole meat cold cuts, and the operations of the packaging department were enhanced.

Sustainability

- A carbon neutral food chain is the most important goal of Atria's sustainability work. The Science Based Targets Initiative (SBTi) has officially approved Atria's emissions reduction targets.

• boilers and a 100 MWh thermal battery at Atria's Nurmo production plant. Animal welfare is important for Atria. Atria production chain's animal welfare policy was
• created to promote the welfare of farm animals. Regarding social responsibility, employees' health and safety at work, equality, inclusion and issues related to the predictability of the employment relationship are positive factors for wellbeing at work.
• the improved results of employee satisfaction surveys.
• Atria employees to innovate the business of the future. Product safety is Atria's most important area of social responsibility in relation to During 2024, there were five recalls in Atria Group as a whole.

Short-term business risks

-

• Global geopolitical and general economic instability • In Finland, the collective bargaining situation in the spring autumn of 2024 on consumers' eating habits
• The impact of national nutrition recommendations published in the • Effects of possible Chinese import duties and bans on food exports • Cybercrime and information system failures • Serious animal diseases and a risk of diseases spreading to Atria's
• operating countries

17

Future Outlook

• previous year (EUR 65.4 million).
• Atria Group's adjusted EBIT in 2025 is expected to be lower than in the • After the record year of financial performance, supported by the significant efficiency and expansion investments in 2023–2024, Atria is also in a good position to perform well in 2025. Atria's good market position, strong brands, good customer relationships and reliable industrial processes provide good conditions for business stability.
• However, the ongoing unstable global trade and geopolitical situation and its impact on consumer confidence and market growth weaken the outlook for 2025. Similarly, updated nutritional recommendations may weaken the sales of meat products. In addition, labor market negotiations in Finland and the animal disease situation in Europe may have a negative impact on the company's results in 2025.

Atria Group Income Statement

	Q4	Q4	Q1-Q4	Q1-Q4
EUR million	2024	2023	2024	2023
NET SALES	445.3	438.1	1,755.4	1,752.7
Costs of goods sold	-399.3	-398.1	-1,564.1	-1,581.2
GROSS PROFIT	46.0	40.0	191.3	171.5
% of Net sales	10.3 %	9.1 %	10.9 %	9.8 %
Other income	0.9	0.7	4.6	2.7
Other expenses	-33.6	-80.5	-129.5	-173.9
EBIT	13.2	-39.8	66.4	0.4
% of Net sales	3.0 %	-9.1 %	3.8 %	0.0 %
Finance income and costs	-3.2	-3.5	-15.4	-13.6
Income from joint ventures and associates	0.4	-0.3	1.1	2.1
PROFIT BEFORE TAXES	10.4	-43.7	52.1	-11.2
Income taxes	-2.5	1.8	-9.1	-4.1
PROFIT FOR THE PERIOD	8.0	-41.8	43.0	-15.3

Atria Group Key indicators

	Q4	Q4	Q1-Q4	Q1-Q4
EUR million	2024	2023	2024	2023
Net sales	445.3	438.1	1755.4	1752.7
Adjusted EBIT	13.2	9.4	65.4	49.6
Adjusted EBIT, %	3.0 %	2.1 %	3.7 %	2.8 %
EBIT	13.2	-39.8	66.4	0.4
EBIT, %	3.0 %	-9.1 %	3.8 %	0.0 %
EPS, EUR	0.27	-1.53	1.41	-0.70
Adjusted EPS, EUR	0.27	0.15	1.38	0.98
Shareholders´ equity per share EUR			14.28	13.82
Equity ratio, %			43.2 %	41.7 %
Adjusted return on equity, %			10.1 %	7.3 %
Adjusted return on investment, %			10.2 %	7.6 %

23

Financial position and equity ratio

	Q1-Q4	Q1-Q4
EUR million	2024	2023
Cash flow from operating activities	92.4	93.2
Cash flow from investing activities	-50.8	-105.7
Free cash flow	41.6	-12.5
Gross investments	39.6	111.0
Net debt	261.8	274.2
Net gearing, %	61.8 %	66.7 %
Finance cost, net	15.4	13.6
Net debt/adjusted EBITDA	2.06	2.61
Equity ratio, %	43.2 %	41.7 %
Average interest rate of the loan portfolio, %	3.76%	4.59%

Significant improvement • Atria Group recorded all-time high result in 2024, adjusted EBIT was EUR 65.4 million. Improvement EUR • Atria Sweden in particular improved its EBIT EUR +10.2 million: increased net sales, the centralisation of production and structure improved the EBIT. • Atria Finland record-high result barbecue season, the efficiency measures and the favourable sales structure improved the result. • Atria Estonia's profitability improved: the net sales increased and the market position • In Finland, the new poultry plant • The export license for chicken • Significant improvement in • The results of the employee • Preparation of the new Group • Atria Group's adjusted EBIT in Strategy implementation progressed consistently Atria records all-time high adjusted EBIT – all business areas improved their full-year earnings Proposal for dividends • The Board of Directors EUR 0.69 be paid for each

in 2024

• 15.8 million
• the streamlining of the organisational
• EUR 60.4 million: a successful

• strengthened.

• has been fully commissioned. The new plant will significantly improve production efficiency.

• meat to China was confirmed and the first deliveries began at the end of December.
• satisfaction survey have improved.
• strategy started.

Future outlook

2025 is expected to be lower than in the previous year (EUR 65.4 million).

Sweden's profitability proposes that a dividend of share for the 2024 financial period.