Atria Oyj

Earnings Release • Apr 24, 2025

Atria Plc Interim report 1 January – 31 March 2025

• The Group's consolidated EBIT amounted to EUR 12.8 million. An Atria has a good quarter in a challenging market situation

All business areas improved their EBIT

• improvement on the comparison period of EUR 4.8 million.
• Atria Finland's EBIT was EUR 11.2 million, up by EUR 4.0 million year-on-year. The good performance is a result of the intensification of poultry production and the concentration of production in the new poultry plant in Nurmo.
• EUR 420.5 million (EUR 416.8 million).
• EUR 6.8 million year-on-year. 2

Preparation of new strategy started

• The preparation of Atria's Group strategy has proceeded as planned. The new strategy will be published at the end of the year.
• Atria Finland launched the planning of an convenience food production and energy management at the Nurmo plant.
• The Group's net sales increased to • Atria Sweden's net sales grew by The Sustainable Brand Index survey measures consumer perceptions of brand sustainability. Finnish consumers' perception of the Atria brand improved by 15 places from 2024. The Atria brand is ranked 13th in the food category. According to the same study, Atria's Maks & Moorits meat product brand is the most sustainable meat product brand in Estonia.

Outlook for the future and events after the period

• expected to be lower than in the previous year (EUR 65.4 million).
• investment programme to modernise • Atria Group's adjusted EBIT in 2025 is • The strike of the Finnish Food Workers' Union from 8 to 10 April 2025 stopped deliveries of goods from the Nurmo plant, with the exception of poultry products. The strike also had a
  • negative impact on deliveries during the Easter season. Atria Finland is investing approximately EUR 7 million in a new pancake production line and the technical modernisation of the production department. The investment will increase the production capacity of pancakes, which will respond to the increase in demand now and in the future.

The retail market development in terms of value for the product categories represented by Atria in January-March: • In Finland -3.5% • In Sweden +4.8% • In Estonia +2.5% • In Denmark +0.2% Atria's own brand market share in the product categories it represents, in value terms in January-March: • In Finland 19% • In Estonia 22% • In Denmark 13% In Sweden Atria's supplier share (the share of Atria's own brands + private label products produced by Atria combined) was close to 18%. Atria's market position in the business areas 6

Atria Finland

Q1/2025 Key Figures

Net sales,

EUR million Net sales development

EBIT,

EBIT % (2.3%)

Central topics

• 307.7 -0.7% • The weak market development in the product categories supplied by Atria in retail trade weighed on Atria's net sales. In addition, lower net sales was due to Easter sales being included in the January–March net sales in the comparison period. • The net sales of the feed business was lower • Atria's sales to Foodservice customers were • Net sales of exports and to industrial
• 11.2 +4.0 EBIT development, than in the previous year due to lower sales prices.
• EUR million EUR million lower than in the previous year. customers improved from the previous year.
• 3.6% The good performance is a result of the intensification of poultry production and the concentration of production in the new poultry plant in Nurmo.
• 7 The export of chicken to China, which started in December, also improved the EBIT.

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Atria Finland

• programme to modernise convenience food production and energy management at the Nurmo plant. The total cost of the project is estimated to be approximately EUR 60–90 million.
• strategy to invest in convenience food and be a leader in sustainable food production. A modernised convenience food factory would enable a completely new kind of carbon neutral food production.
• investments from Business Finland for its modernisation and energy efficiency investments.
• approximately EUR 7 million in a new pancake production line and technical renewal of the production department at the Nurmo plant.

Atria Sweden

Net sales, EUR million Net sales development

0.7 EBIT,

0.8% EBIT %

(0.0%) 9

• Q1/2025 Key Figures Central topics 88.9 +8.3% EBIT and net sales was better than in the comparison period.
  • Good sales to Foodservice and retail customers also increased both net sales and the EBIT.
• EUR million +0,7 EBIT development, EUR million A significant reason for the positive development is the purchase of the Gooh! convenience food business in May last year.

• Events after the period • The strike of the Finnish Food Workers' Union from 8 to 10 April 2025 stopped deliveries of goods from the Nurmo plant, with the exception of poultry products. The strike also had a negative impact on deliveries during the Easter season. • Atria Finland is investing approximately EUR 7
• million in a new pancake production line and the technical modernisation of the production department. • Atria Group's adjusted EBIT in 2025 is expected to be lower than in the previous year Future outlook

13

• (EUR 65.4 million).
• 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 global geopolitical situation, which continues to be volatile, and its impact on consumer confidence and market growth weaken the outlook for 2025. A possible increase in tariffs on food imports from Europe to China or an import ban would have an impact on Atria's Finnish pork exports and the European pork market. The strike of the Finnish Food Workers' Union in Finland in April stopped deliveries from the Nurmo plant, with the exception of poultry products. The strike will be reflected in Atria Finland's sales and result for the rest of the year.

	Q1	Q1
EUR million	2025	2024	2024
NET SALES	420.5	416.8	1,755.4
Costs of goods sold	-377.2	-378.4	-1,564.1
GROSS PROFIT	43.3	38.5	191.3
% of Net sales	10.3%	9.2%	10.9%
Other income	0.9	0.7	4.6
Other expenses	-31.3	-31.2	-129.5
EBIT	12.8	8.0	66.4
% of Net sales	3.1%	1.9%	3.8%
Finance income and costs	-3.2	-4.2	-15.4
Income from joint ventures and associates	0.5	0.1	1.1
PROFIT BEFORE TAXES	10.1	3.9	52.1
Income taxes	-1.7	-0.1	-9.1
PROFIT FOR THE PERIOD	8.4	3.8	43.0

Atria Group Key indicators

	Q1	Q1
EUR million	2025	2024	2024
Net sales	420.5	416.8	1755.4
Adjusted EBIT	12.8	8.0	65.4
Adjusted EBIT, %	3.1%	1.9%	3.7%
EBIT	12.8	8.0	66.4
EBIT, %	3.1%	1.9%	3.8%
EPS, EUR	0.28	0.10	1.41
Adjusted EPS, EUR	0.28	0.10	1.38
Shareholders´ equity per share EUR	14.64	13.64	14.28
Equity ratio, %	42.8%	40.8%	43.2%
Adjusted return on equity (rolling 12m), %	11.2%	6.7%	10.2%
Adjusted return on investment (rolling 12m), %	10.7%	7.1%	10.1%
19

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Financial position and equity ratio

	Q1	Q1
EUR million	2025	2024	2024
Cash flow from operating activities	17.5	-16.8	92.4
Cash flow from investing activities	-5.9	-11.3	-50.8
Free cash flow	11.7	-28.1	41.6
Gross investments	8.4	12.3	39.6
Net debt	255.5	302.6	261.8
Net gearing, %	58.5%	74.3%	61.8%
Finance cost, net	3.2	4.2	15.4
Net debt/adjusted EBITDA	1.92	2.91	2.06
Equity ratio, %	42.8%	40.8%	43.2%
Average interest rate of the loan portfolio, %	3.65%	4.57%	3.76%

• The Group's consolidated EBIT amounted to EUR 12.8 million. An Atria has a good quarter in a challenging market situation

All business areas improved their EBIT

• improvement on the comparison period of EUR 4.8 million.
• Atria Finland's EBIT was EUR 11.2 million, up by EUR 4.0 million year-onyear. The good performance is a result of the intensification of poultry production and the concentration of production in the new poultry plant in Nurmo.
• 420.5 million (EUR 416.8 million).
• 6.8 million year-on-year.

Preparation of new

• The preparation of Atria's Group strategy has proceeded as planned. The new strategy will be published at the end of the year.
• Atria Finland launched the planning of production and energy management at the Nurmo plant.
• The Group's net sales increased to EUR • Atria Sweden's net sales grew by EUR The Sustainable Brand Index survey measures consumer perceptions of brand sustainability. Finnish consumers' perception of the Atria brand improved by 15 places from 2024. The Atria brand is ranked 13th in the food category. According to the meat product brand is the most sustainable meat product brand in Estonia. 21

Outlook for the future and strategy started

• Atria Group's adjusted EBIT in 2025 is expected to be lower than in the previous year (EUR 65.4 million).
• The strike of the Finnish Food Workers' Union from 8 to 10 April 2025 stopped deliveries of goods from the Nurmo plant, with the exception of poultry products. The strike also had a negative impact on deliveries during the Easter season.
• same study, Atria's Maks & Moorits • Atria Finland is investing approximately EUR 7 million in a new pancake production line and the technical modernisation of the production increase the production capacity of pancakes, which will respond to the increase in demand now and in the future.