Apetit Oyj · OMXHEX:APETIT
Apetit Oyj — H1 2021 Earnings Presentation
21 slides from Apetit Oyj's earnings presentation, Aug 20, 2021
Slide 1: Half-Year Report 2021
Half-Year Report 2021 Esa Mäki, CEO, Apetit Plc APETIT PLC | Half-Year Report 2021 20.8.2021 1
Slide 2: Financial Performance
Financial Performance APETIT PLC | Half-Year Report 2021 20.8.2021 2
Slide 3: Food Solutions and Oilseed Products improved their operating profit, Grain Trade recorded a loss
Food Solutions and Oilseed Products improved their operating profit, Grain Trade recorded a loss • Apetit Group’s net sales declined and profitability decreased year-on-year due to the continued weakening of the Grain Trade segment’s result. • Oilseed Products continued its strong profit performance
Slide 4: Net sales, EBITDA, Operating profit
Net sales, EBITDA, Operating profit Continuing operations April-June 2021 January-June 2021 • Net sales 68.7 (73.7) EUR million • Net sales 136.4 (138.8) EUR million • EBITDA 0.3 (1.6) EUR million • EBITDA 2.8 (3.3) EUR million • Operating profit -1.2 (0.1) EUR million • Operating profit -0.3 (0.3)
Slide 5: Profitability improved substantially in all sales channels
Food Solutions April-June 2021 Profitability improved substantially in all sales channels • The sales of frozen products increased especially in the Food service channel Net sales, EUR million • A clear recovery has also been seen in the Food service channel during 4-6 2020 4-6 2021 1-6 2020 1-6 202
Slide 6: Pizza investment renews frozen pizza product family
Pizza investment renews frozen pizza product family • Apetit invests EUR 2 million on a new frozen pizza production line at Pudasjärvi factory • The investment covers the renewal of the whole production equipment in the current factory building • Due to the investment, Apetit’s frozen pizzas will go
Slide 7: Baltic Sea Fish Sticks expand the Local fish -family of sustainable fish products
Baltic Sea Fish Sticks expand the Local fish -family of sustainable fish products • Consumer demand for sustainable food choices is New Local fish growing -product! • A new product for fall: Baltic Sea Fish Sticks, made from domestic Baltic herring • On a national level, there’s volition to advance
Slide 8: Growth from plant-based added value products – Apetit expands to convenience foods
Growth from plant-based added value products – Apetit expands to convenience foods • In accordance with it’s strategy, Apetit seeks growth New product from plant-based added value products e.g. by category! expanding into new product categories • Convenience foods have experienced significant growth
Slide 9: The profitability of Oilseed Products improved
Oilseed Products April-June 2021 The profitability of Oilseed Products improved Net sales, EUR million • Net sales grew substantially in April–June 4-6 2020 4-6 2021 1-6 2020 1-6 2021 • Net sales were boosted by strong demand in all product categories as well as higher market prices. • Profit was im
Slide 10: Production testing of rapeseed ingredient begins at subcontractors premises
Production testing of rapeseed ingredient begins at subcontractors premises • Apetit has worked towards the commercialization of the rapeseed ingredient • Production testing is set to begin during August-September at Apetit’s subcontractors premises • The product will be ready for customers’s produc
Slide 11: The profitability of the grain trade continued to weaken
Grain Trade April-June 2021 The profitability of the grain trade continued to weaken Net sales, EUR million • Net sales decreased clearly due to the lower delivery volumes 4-6 2020 4-6 2021 1-6 2020 1-6 2021 than in the comparison period • The result was negatively affected by the difficult market c
Slide 12: Strong financial position
Strong financial position EUR million 30.6.2021 30.6.2020 Working capital, continuing operations 22.0 42.9 Group’s net cash flow from operating activities 24.4 45.9 Group’s total equity 90,3 91.2 Group’s net debt 8.3 22.1 Group’s Equity ratio, % 76.3 68.8 Group’s Gearing, % 3.1 -4.7 Group’s Operatio
Slide 13: Profit guidance for 2021 unchanged
Profit guidance for 2021 unchanged • The full-year operating profit from continuing operations is expected to improve year-on-year (EUR 3.9 million in 2020). APETIT PLC | Half-Year Report 2021 20.8.2021 13
Slide 14: Covid-19 pandemic – impacts and measures
Covid-19 pandemic – impacts and measures APETIT PLC | Half-Year Report 2021 20.8.2021 14
Slide 15: The impacts of the COVID-19 pandemic vary by business
The impacts of the COVID-19 pandemic vary by business • Thanks to its proactive and systematic approach, Apetit has been able to maintain normal operations throughout the pandemic. • Food Solutions • During the pandemic, food consumption has shifted to people’s homes as restaurants and other public
Slide 16: 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 17: Hot and dry cultivation season
Hot and dry cultivation season APETIT PLC | Half-Year Report 2021 20.8.2021 17
Slide 18: The harvest of outdoor-grown vegetables is expected to be moderate
The harvest of outdoor-grown vegetables is expected to be moderate • The growing season got off to a rainy start in May, which delayed the planting of field vegetables to some degree • The prolonged hot and dry conditions in the summer also posed challenges, especially for pea cultivation, but also
Slide 19: The harvest outlook for oilseed plants is positive, a total cultivated area is increasing
The harvest outlook for oilseed plants is positive, a total cultivated area is increasing • The total area under cultivation for domestic oilseed plants this year grew by nearly a third compared to last year • The harvest outlook is positive • The hectare harvest outlook for oilseed plants sown in t
Slide 20: The domestic grain harvest to be slightly weaker than average
The domestic grain harvest to be slightly weaker than average • The domestic grain harvest is expected to be slightly weaker than average • According to the harvest estimate (16 July 2021) of Natural Resources Institute Finland, the domestic grain harvest in 2021 will be approximately 3.1 million to
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