HKScan Oyj — Earnings Release 2021

Nov 24, 2021

HKScan updating its outlook for 2021: comparable EBIT stable and at the 2020 level

HKScan updating its outlook for 2021: comparable EBIT stable and at the 2020 level

HKScan Corporation, inside information, 24 November 2021 at 8.00 a.m. EET

HKScan updating its outlook for 2021: comparable EBIT stable and at the 2020
level

HKScan updates the Group’s outlook for 2021. The company estimates that its
comparable EBIT will be stable and at the 2020 level.

The change in outlook is due to rapidly accelerating cost inflation in all of
HKScan’s home markets. In Denmark, the continuing avian flu situation affecting
the whole industry has delayed the start of exports outside the EU longer than
previously estimated with a clear negative impact on the profitability of
HKScan’s Danish business. In addition, the difficult Covid-19 situation in the
Baltics has weakened the operational efficiency and commercial performance of
HKScan’s Baltic business.

HKScan expects the good profit development in Finland and Sweden to continue for
the rest of the year.

In 2020, HKScan’s comparable EBIT was 17.0 million euros.

Updated outlook for 2021
HKScan estimates that the Group’s comparable EBIT in 2021 will be stable and at
the 2020 level.

Previous outlook for 2021
HKScan estimates that the Group’s comparable EBIT in 2021 will improve compared
to 2020.

HKScan will publish its 2021 Financial Statements on 10 February 2022.

HKScan Corporation

Tero Hemmilä
CEO

More information:
Tero Hemmilä, CEO, tel. +358 10 570 2012

At HKScan, we make life tastier – today and tomorrow. Our strategic target is to
grow into a versatile food company. Our responsibly produced, delicious products
are part of consumers’ varied food moments – both every day and on special
occasions. We have some 7,000 HKScan professionals applying more than 100 years
of experience to make locally produced food. For us at HKScan, responsibility
means continuous improvements and concrete actions throughout the food chain. As
part of our Zero Carbon programme, we are targeting a carbon-neutral food chain
from farms to consumers by the end of 2040. Our home markets cover Finland,
Sweden, the Baltics and Denmark. Our strong product brands include HK®,
Kariniemen®, Via®, Scan®, Pärsons®, Rakvere®, Tallegg® and Rose™. Through our
strategic partnerships, we are also known for Kivikylän®, Tamminen® and Boltsi
brands. HKScan is a publicly listed company, and in 2020, our net sales totalled
nearly EUR 1.8 billion.

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www.hkscan.com