Apetit Oyj · OMXHEX:APETIT
Apetit Oyj — Q3 2016 Earnings Presentation
23 slides from Apetit Oyj's earnings presentation, Nov 3, 2016
Slide 1: Apetit Q3/2016 Interim Report
Apetit Q3/2016 Interim Report Juha Vanhainen, CEO Sami Saarnio, CFO Briefing for Analysts and Media 3rd November 2016 at 10.00 a:m. Scandic Simonkenttä, Helsinki APETIT PLC | Interim Report Q3/2016 3/11/2016 1
Slide 2: Sami Saarnio appointed as Apetit Plc's Chief Financial Officer
Sami Saarnio appointed as Apetit Plc’s Chief Financial Officer • Sami Saarnio M.Sc. (Econ. and Bus. Adm.) has been appointed as Apetit Plc's Chief Financial Officer (CFO) and member of its Corporate Management with responsibility for the company’s financial administration and finance operations. Saa
Slide 3: Creating Wellbeing with Vegetables
• Apetit produces food solutions based on 15% vegetables, fish and vegetable oils • Apetit is active in the trading of grains, 42% oilseeds and raw materials for feeds in DISTRIBUTION Finland and internationally 20% OF NET SALES • Its customers include consumers, the 2015 Creating retail trade, the
Slide 4: Apetit Group's July-September 2016
Apetit Group’s July-September 2016 In Food Solutions the positive trend in Operational EBIT was unsatisfactory – frozen products sales continued, whereas Seafood's performance continued to improve in fresh products declining volumes in professional food services weighed on • July-September (Q3/2016,
Slide 5: APETIT PLC | Interim Report Q3/2016
APETIT PLC | Interim Report Q3/2016 3/11/2016 5
Slide 6: Business segments – strategic focuses and target positions
Business segments – strategic focuses and target positions Food Solutions Oilseed Products Grain Trade Seafood Frozen + fresh Vegetable oils and Grain, oilseed and the vegetable solutions expeller animal feedstuff trade Strategic Leading brand in The most reliable Most reliable Product leader focus
Slide 7: Food Solutions Q3/2016
Food Solutions Q3/2016 Food Solutions Q3/2016 Net sales and profitability improved in frozen foods NET SALES GREW IN FROZEN FOODS Net Sales • Net sales were 22.8 (22.8) M€ EUR million, comparison 2016/2015 OPERATIONAL ENVIRONMENT Q1-Q3/2016 • Sales by the frozen food group increased to the 95.8 reta
Slide 8: A good start in Tuorekset sales
Expansion into the fruit and vegetable section in retail A good start in Tuorekset- sales Store coverage 1,000 October ~ 1,000 September Store coverage* 900 800 ~ 50 % August Product awareness** 700 was reached in four weeks after launch *The amount of grocery stores in Finland totalled approx. Amou
Slide 9: Oilseed Products Q3/2016
Oilseed Products Q3/2016 Oilseed Products Q3/2016 Net sales grew, good profitability continued SALES GREW ESPECIALLY IN UNPROCESSED OIL Net Sales OPERATIONAL ENVIRONMENT Q1-Q3/2016 EUR million, comparison 2016/2015 • Net sales were 17.6 (14.8) M€ The oilseed growing season was mostly favourable in F
Slide 10: Grain Trade Q3/2016
Grain Trade Q3/2016 Grain Trade Q3/2016 Low margins in international markets affected the Grain Trade NET SALES GREW SIGNICANTLY YEAR-ON- Net Sales OPERATIONAL ENVIRONMENT Q1-Q3/2016 YEAR EUR million, comparison 2016/2015 170.5 The price level on the international grain market • Net Sales were 38.9
Slide 11: The price level in grain market declining, price fluctuations have decreased
The price level in grain market declining, price fluctuations have decreased 300 • The price of wheat on the international market has 280 fallen over the last two harvest seasons 260 • The changes in wheat prices 240 affect also other food and feed grain prices EUR/ tonne 220 • Market volatility has
Slide 12: Seafood Q3/2016
Seafood Q3/2016 Seafood Q3/2016 Operating cash flow improved significantly OPERATIONAL ENVIRONMENT Q1-Q3/2016 PRICES OF RAW MATERIAL KEPT NET SALES HIGH Net Sales EUR million, comparison The price of Norwegian salmon during 2016 has • Net sales were 20.4 (20.4) M€ 2016/2015 82.9 been at a higher lev
Slide 13: Performance in January-September 2016 - by segment
Performance in January-September 2016 - by segment Apetit group Food Solutions Oilseed Products Grain Trade Seafood Q1-Q3/2016 Net Sales Net Sales Net Sales Net Sales Net Sales 72.1 M€ 52.3 M€ 119.9 M€ 63.7 M€ (70.5 M€) (46.3 M€) (111.4 M€) (61.7 M€) 286.4 M€ (267.0 M€) Intra-group sales -21.6 (-22.
Slide 14: Outlook for 2016
Outlook for 2016 The profit guidance was amended with a stock exchange release published on 19 October 2016. The Group’s operational EBIT* for the full year is estimated to be positive but to fall short of the comparison year’s level (2015: EUR 2.6 million). Due to the seasonal nature of the Group’s
Slide 15: Financial Review Q3
Financial Review Q3 CFO Sami Saarnio APETIT PLC | Interim Report Q3/2016 3/11/2016 15
Slide 16: Apetit Group's Net Sales and Operational EBIT Q1-Q3/2016
Apetit Group’s Net Sales and Operational EBIT Q1-Q3/2016 Net Sales Operational EBIT EUR million, comparison 2016/2015 EUR million, comparison 2016/2015 2015 2016 2015 2016 380.8 2.7 2.6 286.4 267.0 1.8 1.4 113.8 100.2 106.9 -0.1* 91.5 87.5 91.9 75.3 -0.3 -0.7 -1.0 -1.1 -1.6 Q1 Q2 Q3 Q4 Q1-Q3 1-12/20
Slide 17: Group-level key figures Q1-Q3/2016
Group-level key figures Q1-Q3/2016 Q3 Q3 Change Q1-Q3 Q1-Q3 Change 2015 Rolling EUR million 2016 2015 2016 2015 12m Net sales 91.9 75.3 +22 % 286.4 267.0 +7 % 380.8 400.2 Operational EBITDA 3.1 2.9 4.1 4.0 8.5 8.6 Operational EBIT 1.4 1.8 -0.7 -0.1 2.6 2.0 Operating profit 1.4 -2.5 -0.7 -3.7 -1.0 2.
Slide 18: Balance sheet
Balance sheet EUR million ASSETS Sept 30, 2016 Sept 30, 2015 Tangible assets 47.6 43.5 Investments in associated companies 21.7 22.1 Inventories 64.5 67.1 Receivables 30.3 34.0 Other assets 16.0 25.5 Total assets 180.3 196.1 EQUITY AND LIABILITIES Equity 115.9 118.0 Financial liabilities 21.1 28.3 T
Slide 19: Wrap up
Wrap up APETIT PLC | Interim Report Q3/2016 3/11/2016 19
Slide 20: Strategic guidelines
Strategic guidelines Growth through higher value-added Increased agility, with a focus on the products and an attractive brand production and commercial scale New opportunities and industrial symbioses Primary production in partnership networks for the food chain from the bioeconomy through closer c
Slide 21: Implementation schedule for the most important measures for the strategy period
Implementation schedule for the most important measures for the strategy period 2016 2017 2018 Food Solutions Expansion in fresh products Renewal of frozen products Enhancing production efficiency to enable growth Service and product development Enhancing exports Oilseed In-depth R&D operations Prod
Slide 22: January-September in a nutshell
January-September in a nutshell In Seafood, the operative cash In fresh products, reduced Operational EBIT was flow improved significantly sales volumes lowered the unsatisfactory profitability of the entire The efficiency boosting segment In Seafood, good profitability investments and improvements
Slide 23: thank you.
Apetit thank you.