Apetit Oyj · OMXHEX:APETIT
Apetit Oyj — H1 2016 Earnings Presentation
22 slides from Apetit Oyj's earnings presentation, Aug 16, 2016
Slide 1: Apetit H1/2016 Half year financial report
Apetit H1/2016 Half year financial report Juha Vanhainen, CEO Eero Kinnunen, CFO Briefing for Analysts and Media 16th August 2016 at 10.00 a:m. Scandic Simonkenttä, Helsinki APETIT PLC | Half year financial report 1-6/2016 16 August 2016 1
Slide 2: 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 3: April-June 2016 in brief
April-June 2016 in brief In Food Solutions the positive trend in frozen products sales continued, whereas in Profitability continued to improve in Seafood fresh products declining sales and product development costs weighed on profitability - Challenging quarter for Grain Trade In Oilseed Products v
Slide 4: Liiketoimintakatsaukset / Business segment review
Liiketoimintakatsaukset Business segment review Tammi-kesäkuu 2016 APETIT PLC | Half year financial report 1-6/2016 16 August 2016 4
Slide 5: 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 6: Food Solutions Q2/2016: Net sales grew, room to improve profitability
Food Solutions Q2/2016 Food Solutions Q2/2016 Net sales grew, room to improve profitability NET SALES GREW IN FROZEN PRODUCTS Net Sales OPERATIONAL ENVIRONMENT 1-6/2106 • Net sales were 24.3 (23.8) M€ EUR million, comparison 2016/2015 • In the frozen products group sales increased in 95.8 • Grocery
Slide 7: Tuorekset – completely new vegetable product
Expansion into the fruit and vegetable section in retail Tuorekset – completely new vegetable product category in retail stores • The product development created a vegetable product solution that is uniquely easy to use, high in quality and with good preservation characteristics. It is a new answer
Slide 8: Oilseed products Q2/2016: Net sales grew, good profitability continued
Oilseed products Q2/2016 Oilseed products Q2/2016 Net sales grew, good profitability continued SALES GREW ESPECIALLY IN UNPROCESSED Net Sales OPERATIONAL ENVIRONMENT 1-6/2016 OIL EUR million, comparison 2016/2015 The current oilseed growing season has been • Net sales grew to 18.2 (15.5) M€ 61.3 mos
Slide 9: Investment in growth: packaging plant extension
Investment in growth The extension of the packaging plant in Kirkkonummi oil milling plant completed in June • The new packaging capacity will support growth in Finland and in export markets allowing the increase in the volumes of packaged and special products • In addition, with longer production r
Slide 10: Grain Trade Q2/2016: Challenging quarter for Grain Trade
Grain Trade Q2/2016 Grain Trade Q2/2016 Challenging quarter for Grain Trade SALES INCREASED AFTER QUIET BEGINNING Net Sales OF THE YEAR EUR million, comparison 2016/2015 170.5 OPERATING ENVIRONMENT 1-6/2016 • Net sales grew year on year and were 50.2 (45.2) M€ 2015 2016 The price level on the intern
Slide 11: Seafood Q2/2016: Good profitability continued
Seafood Q2/2016 Seafood Q2/2016 Good profitability continued RISE IN RAW MATERIAL PRICES AFFECTED NET SALES Net Sales OPERATING ENVIRONMENT 1-6/2016 EUR million, comparison 2016/2015 • Net sales were 22.7 (20.5) M€ 82.9 • The price of Norwegian salmon has been at a • As a result of the increased pri
Slide 12: Performance in January-June 2016, by segment
Performance in January-June 2016, by segment Apetit group Food Solutions Oilseed Products Grain Trade Seafood 1-6/2016 Net sales Net sales Net sales Net sales Net sales 49.3M€ 34.7 M€ 81.1 M€ 43.2 M€ (47.7 M€) (31.5 M€) (83.1M€) (41.3 M€) 194.5 M€ (191.7 M€) Intra-group sales -13.8 (-11.9) M€ Operat
Slide 13: Outlook for 2016
Outlook for 2016 • The outlook of the Finnish grocery sector is expected to remain weak and the growth in net sales in retail trade low. Prices on the international grain market are anticipated to remain at a relatively low level due to ample grain stores, at least during the first part of the new h
Slide 14: Financial Review Q2
Financial Review Q2 CFO Eero Kinnunen APETIT PLC | Interim Report Q1/2016 12 May 2016
Slide 15: Apetit Group's net sales and Operational EBIT Q1-Q2/2016
Apetit Group’s net sales and Operational EBIT Q1-Q2/2016 Net Sales Operational EBIT EUR million, comparison 2016/2015 EUR million, comparison 2016/2015 2015 2016 380.8 2.7 2.6 1.8 191.7 194.5 113.8 -0.3* 100.2 106.9 91.5 87.5 75.3 -1.0 -1.1 -1.6 -1.9 -2.1 Q1 Q2 Q3 Q4 Q1-Q2 1-12/2015 Q1 Q2 Q3 Q4 Q1-Q
Slide 16: Group-level key figures Q1-Q2/2016
Group-level key figures Q1-Q2/2016 Q2 Q2 Change Q1-Q2 Q1-Q2 Change 2015 Rolling EUR million 2016 2015 2016 2015 12m Net sales 106.9 100.2 +7 % 194.5 191.7 +1 % 380.8 383.5 Operational EBITDA 0.4 0.9 1.0 1.1 8.5 8.5 Operational EBIT -1.1 -0.3 -2.1 -1.9 2.6 2.4 Operating profit -1.1 0.4 -2.1 -1.2 -1.0
Slide 17: Balance sheet
Balance sheet ASSETS June 30, 2016 June 30, 2015 Tangible assets 47.3 43.0 Investments in associated companies 21.8 31.8 Inventories 44.6 29.5 Receivables 38.1 36.0 Other assets 15.8 20.4 Total assets 167.6 160.8 EQUITY AND LIABILITIES Equity 113.7 121.9 Financial liabilities 17.5 3.3 Trade payables
Slide 18: Summary
Summary 18
Slide 19: 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 20: 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 21: January-June in a nutshell
January-June in a nutshell Operational EBIT was In Seafood, good profitability The performance in frozen unsatisfactory. trend continued. product group is developing well, however, we are not In Grain Trade we had a Efficiency investments are satisfied with the overall results challenging quarter. b
Slide 22: thank you.
Apetit thank you.