Apetit Oyj · OMXHEX:APETIT
Apetit Oyj — FY2021 Earnings Presentation
27 slides from Apetit Oyj's earnings presentation, Feb 17, 2022
Slide 1: Financial Statements review 2021
Financial Statements review 2021 CEO Esa Mäki, Apetit Plc APETIT PLC | Financial Statements Review 2021 17.2.2022 1
Slide 2: Financial Performance
Financial Performance APETIT PLC | Financial Statements Review 2021 17.2.2022 2
Slide 3: Net sales, EBITDA, Operating profit
Net sales, EBITDA, Operating profit Continuing operations October-December 2021 January-December 2021 • Net sales EUR 83.0 (82.0) million • Net sales EUR 283.9 (292.9) million • EBITDA EUR 2.2 (2,7) million • EBITDA 9.2 (10.1) million • Operating profit EUR 0.5 (1.1) million • Operating profit EUR 2
Slide 4: Frozen food net sales grew clearly in the Food Service channel
Food Solutions October-December 2021 Frozen food net sales grew clearly in the Food Service channel • Frozen food sales grew clearly in the Food Service channel Net sales, EUR million • Net sales still remain below the pre-pandemic level 1-12 2020 1-12 2021 • Sales decreased slightly from the compar
Slide 5: Investments have clearly improved the material and energy efficiency of the production
Investments have clearly improved the material and energy efficiency of the production • Improving process efficiency is one of our key strategic goals • The investments made in Säkylä, steam peelers (2020) and brush scrubbers (2021), have a significant impact on improving the material and energy ef
Slide 6: Novelties meet trends
Novelties meet trends Making daily life easier Over 1 million sold products during 12 months Climate- responsible everyday actions 60% vegetables 2019 2020 2021 Increase in The origin of demand for Well-being food plant-based food products APETIT PLC | Financial Statements Review 2021 17.2.2022 6
Slide 7: Significantly increased raw material costs have reduced profitability
Oilseed Products October-December 2021 Significantly increased raw material costs have reduced profitability Net sales, EUR million • Net sales increased clearly (52%) due to significantly higher selling prices of raw materials and end products 10-12 2020 10-12 2021 1-12 2020 1-12 2021 88,1 • Profit
Slide 8: Systematic work to commercialize a new rapeseed-based plant protein
Systematic work to commercialize a new rapeseed-based plant protein • The small-scale production of the BlackGrain from Yellow Fields plant protein started in October 2021 • The small-scale production enables customers to test BlackGrain in their own product development • At Apetit, BlackGrain was u
Slide 9: The record-small grain harvest decreased export deliveries
Grain Trade October-December 2021 The record-small grain harvest decreased export deliveries Net sales, EUR million • Net sales decreased clearly due to decreased volumes 1-12 2020 1-12 2021 10-12 2020 10-12 2021 • Even though grain prices increased strongly during the second half of the 194,5 164,5
Slide 10: Apetit has agreed on selling the Baltic business operations of the Grain Trade
Apetit has agreed on selling the Baltic business operations of the Grain Trade • In December, Apetit Group’s subsidiary Avena Nordic Grain agreed on selling the Baltic operations of the Grain Trade business to Scandagra Group • This business transaction is in line with the strategy and will make the
Slide 11: Strong financial position
Strong financial position EUR million 31.12.2021 31.12.2020 Working capital, continuing operations 50.5 48.4 Group’s net cash flow from operating activities 5.0 26.8 Group’s total equity 93.3 95.0 Group’s net debt 24.8 20.6 Group’s Equity ratio, % 59.4 % 66.5 % Group’s Gearing, % 26.6 % 21.7 % Group
Slide 12: Profit guidance for 2022
Profit guidance for 2022 APETIT PLC | Financial Statements Review 2021 17.2.2022 12
Slide 13: Profit guidance for 2022
Profit guidance for 2022 • The full-year operating profit from continuing operations is expected to improve year-on-year (EUR 2.8 million in 2021). APETIT PLC | Financial Statements Review 2021 17.2.2022 13
Slide 14: Dividend proposal
Dividend proposal APETIT PLC | Financial Statements Review 2021 17.2.2022 14
Slide 15: Dividend proposal for 2021
Dividend proposal for 2021 • Dividend policy • The Board of Directors of Apetit Plc aims to ensure that the company’s shares provide shareholders with a good return on investment and retain their value. • The company will distribute at least 50 per cent of the profit for the financial year in divide
Slide 16: Covid-19 pandemic – impacts and measures
Covid-19 pandemic – impacts and measures APETIT PLC | Financial Statements Review 2021 17.2.2022 16
Slide 17: The impacts of the COVID-19 pandemic vary by business
The impacts of the COVID-19 pandemic vary by business Food Solutions • The COVID-19 pandemic has affected the Food Solutions business the most. The retail demand for food increased suddenly when the exceptional situation began in spring 2020. Grocery trade grew at a record pace in 2020 (+8.6%) and h
Slide 18: Apetit's measures related to the COVID-19 pandemic
Apetit’s measures related to the COVID-19 pandemic • Exceptional arrangements related to the COVID-19 pandemic continue in Apetit Group. We are actively monitoring the situation and will react to any changes. • Apetit’s goal during the COVID-19 pandemic has been to ensure the health of employees, cu
Slide 19: Consistent implementation of the strategy
Consistent implementation of the strategy APETIT PLC | Financial Statements Review 2021 17.2.2022 19
Slide 20: APETIT PLC | Financial Statements Review 2021
APETIT PLC | Financial Statements Review 2021 17.2.2022 20
Slide 21: Financial objectives
Financial objectives Financial objectives • EBITDA will be EUR 14 million in 2022 (continuing operations in 2019 EUR 0.8 million) • Return on capital employed (ROCE %) > 8% (2019: -4.0%) APETIT PLC | Financial Statements Review 2021 17.2.2022 21
Slide 22: Optimising core business functions
Optimising core business functions • Key measures in 2021: ✓ Commissioning of the bioenergy plant at the Kantvik vegetable oil milling plant in Kirkkonummi. ✓ Investments to improve production and material efficiency at the Säkylä plant. ✓ Agreement on selling the Baltic operations of the Grain Trad
Slide 23: Strong foothold in Sweden
Strong foothold in Sweden • Key measures in 2021: ✓ Expansion of the Apetit product selection in ICA, the largest retail chain in Sweden. ✓ New retail customers in Sweden. ✓ Strengthening of partnerships and product launches in other markets. ✓ Systematic increase of the total export volume. APETIT
Slide 24: Growth from plant-based added value products
Growth from plant-based added value products • Key measures in 2021: ✓ Continuous development of new plant- and fish-based products and product groups. ✓ Launch of a new product group: the Meal Bowl ready meals to shops’ frozen food sections. ✓ Expansion of the local fish product family: the launch
Slide 25: Developing farming partnerships
Developing farming partnerships • Key measures in 2021: ✓ Active participation in the Räpi experimental farm’s projects promoting soil fertility and carbon sequestration. ✓ Increase in oilseed plant contract farming in accordance with the set objective. ✓ Continuous cooperation with growers: advice
Slide 26: Sustainable actions
Sustainable actions • Key measures in 2021: ✓ Publication of an updated corporate responsibility programme and targets. ✓ Calculation of the carbon footprint of domestic rapeseed oil. ✓ Development and standardisation of the Group’s carbon footprint calculation to comply with the GHG Protocol (Scope
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