Atria Oyj

Earnings Release • Apr 26, 2013

Atria Group Review Q1/2013

	Q1	Q1
€ Million	2013	2012	2012
Net sales	328.4	308.6	1,343.6
EBIT	3 2 3.2	0 1 0.1	30 2 30.2
EBIT %	1.0	0.0	2.2
Profit before taxes	0.7	-3.0	18.9
Earnings per share, €	-0.03	-0.19	0.35
Extraordinary items*	1.1	0.0	-0.5

* Extraordinary items are included in the reported figures.

• Atria Group's net sales and EBIT improved.
• Atria Finland's EBIT was EUR 6.7 million (EUR 5.2 million).
• Atria Scandinavia's EBIT was EUR 0.1 million (EUR 0.2 million).
• Atria Russia's EBIT came to EUR -3.1 million (EUR -3.3 million).
• Atria Baltic's EBIT was EUR -0.4 million (EUR -0.5 million).
• The Group's equity ratio was 41.5 per cent (31 December 2012: 41.5 %).

Atria Finland Review Q1/2013

	Q1	Q1
€ Million	2013	2012	2012
Net sales	205.1	188.5	819.5
EBIT	6 7 6.7	5 2 5.2	36 5 36.5
EBIT %	3.3	2.8	4.5
Extraordinary items*	1.1	0.0	-0.5

*Extraordinary items are included in the reported figures.

• Atria Finland's net sales for January–March increased by EUR 16.6 million year-on-year.
• EBIT improved by EUR 1.5 million year-on-year.
• EBIT includes a non-recurring profit of EUR 1.1 million resulting from a reversal of impairment on a property that had been for sale.
• Higher sale prices and slightly higher sales volumes also improved EBIT.

2013-04-26 3

• The prices of meat raw materials continued to rise.

Atria Scandinavia Review Q1/2013 € Million Q1 2013 Q1 2012 2012 Net sales 94.2 89.5 387.8 EBIT 0.1 0.2 8.2 EBIT % 0.1 0.2 2.1 Extraordinary items* 0.0 0.0 0.0

*Extraordinary items are included in the reported figures.

• Atria Scandinavia's net sales for January–March increased by EUR 4.7 million year-on-year. In the local currency, net sales grew by 1.5 per cent year-on-year. yp y

• EBIT amounted to EUR 0.1 million (EUR 0.2 million).
• The prices of meat raw materials have remained high, which impaired EBIT development.

€ Million	Q1 2013	Q1 2012	2012
Net sales	27.4	28.3	126.3
EBIT	-3.1 3 1	-3.3 3 3	-8.6 8 6
EBIT %	-11.4	-11.8	-6.8
Extraordinary items*	0.0	0.0	0.0

• The result for industrial operations improved, and efficiency improvement measures showed results.
• The weakening of primary production profitability, which started in the latter part of last year, continued to impair performance at the beginning of the year. The price of live pigs has decreased by about 30 per cent during the last two quarters.

Atria Baltic
Review Q1/2013

	Q1	Q1
€ Million	2013	2012	2012
Net sales	7.2	7.9	34.2
EBIT	-0.4 0 4	-0.5 0 5	-1.5 1 5
EBIT %	-4.9	-6.7	-4.4
Extraordinary items*	0.0	0.0	0.0

*Extraordinary items are included in the reported figures.

• Atria Baltic's net sales for January–March totalled EUR 7.2 million (EUR 7.9 million), representing a fall of EUR 0.7 million year-on-year.
• EBIT was EUR -0.4 million (EUR -0.5 million), an improvement of EUR 0.1 million year-on-year.
• The decrease in net sales was caused by lower sales of primary production and by the discontinuation of exports to Russia.
• The Tartu logistics centre was closed down and transferred to the Valga plant.

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Atria Group Financial indicators

€ Million	31.3.2013		31.3.2012 31.12.2012
Shareholders' equity per share, EUR	15.24	14.94	15.15
It t n erest-b li biliti bearing liabilities i	379 7.	420 0.	370 5.
Equity ratio, %	41.5	40.1	41.5
Gearing, %	87.4	98.8	85.9
Net gearing, %	85.7	96.8	84.3
Gross investments in fixed assets	8.8	11.0	56.2
Gross investments, % of net sales	2.7	3.6	4.2
Average number of employees	4,670	4,991	4,898

• On 31 March 2013, the amount of the Group's undrawn committed credit facilities stood at EUR 178.9 million (31 December 2012: EUR 153 million).
• The average maturity of loans and committed credit facilities at the end of the review period was 2 years 11 months (31 December 2012: 2 years 10 months).

• Atria issued a EUR 50 million bond with fixed interest rate during the review period.

Atria Group Income Statement

	Q1	Q1
€ Million	2013	2012	2012
NET SALES	328.4	308.6	1,343.6
Cost of goods sold	-291.8	-275.3	-1,172.5
GROSS PROFIT	36.6	33.2	171.1
% of Net sales	11.1	10.8	12.7
Other income	1.6	0.5	3.8
Other expenses	-34.9	-33.7	-144.7
EBIT	3.2	0.1	30.2
% of Net sales	1.0	0.0	2.2
Financial income and expenses Income from joint-ventures and	-3.5	-3.5	-14.7
associates	1.0	0.4	3.4
PROFIT BEFORE TAXES	0.7	-3.0	18.9
Income taxes	-1.6	-2.3	-8.8
PROFIT FOR THE PERIOD	-0.9	-5.3	10.1
% of Net sales	-0.3	-1.7	0.7
Earnings/share, €	-0.03	-0.19	0.35

Atria Group Cash flow statement

	Q1	Q1
€ Million	2012	2012	2012
Cash flow from operating activities	2,5	-0,3	119,2
Financial items and taxes	-0,1	3,4	-19,6
Net cash flow from operating activities	2,4	3,1	99,6
Investing activities, tangible and intangible assets	-8,4	-10,3	-50,4
Acquired subsidiary shares			-1,8
Change in non-current receivables	0,3	0,3	0,9
Investments	1,9	1,4	1,4
Net cash used in investing activities	-6,1	-8,6	-50,0
FREE CASH FLOW	-3,8	-5,5	49,7
Proceeds from non-current borrowings	50,0	30,0	50,0
Repayments of non-current loans and changes in current loans	-45,2	-22,9	-94,6
Dividends paid			-5,6
Net cash used in financing activities	4,8	7,1	-50,2
CHANGE IN LIQUID FUNDS	1,0	1,6	-0,6