Apetit Oyj · OMXHEX:APETIT
Apetit Oyj — FY2023 Earnings Presentation
30 slides from Apetit Oyj's earnings presentation, 2024
Slide 1: Financial Statements Release 2023
Financial Statements Release 2023 Esa Mäki, CEO, Apetit Plc
Slide 2: Financial Review
Financial Review
Slide 3: January-December 2023: net sales and operating profit
January-December 2023: net sales and operating profit • Net sales were EUR 175.5 (181.7) million. Net sales, EUR million Operating profit, EUR million • EBITDA was EUR 13.2 (9.2) million. • Operating profit was EUR 7.5 (3.5) million 1-12 2022 1-12 2023 1-12 2022 1-12 2023 • Result clearly improved f
Slide 4: October-December 2023: net sales and operating profit
October-December 2023: net sales and operating profit Net sales, EUR million Operating profit, EUR million • Net sales amounted to EUR 42.6 (46.6) million 10-12 2022 10-12 2023 10-12 2022 10-12 2023 • EBITDA was EUR 3.7 (4.5) million • Operating profit was EUR 2.2 (3.0) million • Net sales decreased
Slide 5: Net sales and sales volumes increased – Food Solutions October-December 2023
Food Solutions October-December 2023 Net sales and sales volumes increased – result improved from comparison period Net sales, EUR million + 16 % 10-12 2022 10-12 2023 • Net sales were EUR 19.8 (17.1) million and operating profit EUR 2.0 (1.8) million 19,8 17,1 • Both net sales and sales volumes inc
Slide 6: Net sales decreased as the market prices stabilised
Oilseed Products October-December 2023 Net sales decreased as the market prices stabilised - 23 % Net sales, EUR million • Net sales were EUR 22.9 (29.7) million 10-12 2022 12-12 2023 and operating profit EUR 0.9 (1.7) million 29,7 22,9 • Decrease in net sales was influenced by decreased market pric
Slide 7: Continuing operations
Continuing operations Janury-December 2023
Slide 8: Cost inflation is reflected in purchasing behavior
Cost inflation is reflected Otsikko in purchasing behavior • The value of sales of groceries increased by 7.5 percent in 2023, but the volume decreased by 1.9 percent on average* • Consumers prefer more affordable products • The increase of popularity of traditional foods can be seen in demand of Ap
Slide 9: Food Solutions 1-12/2023
Otsikko Food Solutions 1-12/2023 • The harvest season was mostly in line with the goals • The Säkylä frozen foods plant’s new energy system was deployed • Increased use of recyclable packaging materials and introduction of PEFC-certified paperboard • Launching a project to produce Finnish pea protei
Slide 10: Sweden as a focus area
Sweden as a focus area • Apetit established sales organisation in Sweden to strengthen exports to Sweden • Foothold in Sweden has been strengthened with access to new retail groups • The share of exports in food net sales increased in 2023 • The net sales of exports to Sweden slightly increased from
Slide 11: Net sales and sales volumes increased – Food Solutions January-December 2023
Food Solutions January-December 2023 Net sales and sales volumes increased – result improved from comparison year • Net sales were EUR 73.7 (64.2) Net sales, EUR million + 15 % million and operating profit EUR 5.8 1-12 2022 1-12 2023 (4.2) million 73,7 • Net sales increased in all sales 64,2 channel
Slide 12: Oilseed Products 1-12/2023
Oilseed Products 1-12/2023 Otsikko • International crush margins were at an elevated level during the entire calendar year. • Market prices of oilseeds clearly decreased from high figures of comparison year • The domestic oilseed plant harvest decreased in 2023 by quarter from the previous year, amo
Slide 13: New bottling line in Kantvik oil milling plant
New bottling line in Kantvik oil milling plant • Approximately EUR 4.5 million investment • Supply chain of vegetables oils more firmly into own hands • Opportunities for the development of products with a higher degree of processing • Work with the new line in schedule, it is estimated that the new
Slide 14: BlackGrain
BlackGrain • Commercialisation of rapeseed ingredient BlackGrain is progressing • Important steps in development of production process to begin commercial scale production have been taken in 2023 • We will tell more about long-term plans for Blackgrain in second half of 2024
Slide 15: RypsiRapsi-foorumi – new Finnish oilseed plant production development group
RypsiRapsi-foorumi – new Otsikko Finnish oilseed plant production development group • The goal is to promote the cultivation of rapeseed and its profitability in Finland • The forum brings together different stakeholders in the oilseed plant sector, compiles the results of earlier research activitie
Slide 16: Operating profit clearly improved from comparison year
Oilseed Products January-December 2023 Operating profit clearly improved from comparison year • Net sales were EUR 102.4 (118.2) - 13 %Net sales, EUR million 1-12 2022 1-12 2023 million and operating profit EUR 4.6 (1.5) million 118,2 102,4 • Net sales decreased due to stabilisation of market prices
Slide 17: Strong financial position
Strong financial position EUR million 31.12.2023 31.12.2022 Working capital 23,0 18,7 Group’s net cash flow from operating activities 9,7 28,4 Group’s total equity 103,5 96,0 Group’s net debt -5,9 -12,7 Group’s Equity ratio, % 78,9 81,8 Group’s Gearing, % -5,7 -13,2 Earnings per share, EUR 1,56 0,83
Slide 18: Discontinued operations
Discontinued operations
Slide 19: Grain Trade
Discontinued operations 2023 Grain Trade • Net sales were EUR 0.0 (67.2) million. Net sales, EUR million Operating profit was EUR -0.1 (2.7) 10-12 2022 10-12 2023 1-12 2022 1-12 2023 million. • The sale of the grain trade business 67,2 took place in stages during the first half of 2022 Operating pro
Slide 20: Outlook for 2024
Outlook for 2024
Slide 21: Trends and phenomena
Trends and phenomena • The effects of inflation can be seen in consumer purchasing choices - in everyday life, people choose ingredients that fit the budget for home cooking • In everyday life, people want to prepare food quickly and easily from basic ingredients - more and more people are choosing
Slide 22: Profit guidance for 2024
Profit guidance for 2024 • Group’s operating profit is estimated to stay at the level of the comparison year (EUR 7.5 million in 2023). • The operating profit from Food Solutions is estimated to further improve. In Oilseed Products, the operating profit is expected to decline due to outlook of marke
Slide 23: Dividend proposal
Dividend proposal
Slide 24: Dividend proposal for the financial year 2023
Dividend proposal for the financial year 2023 • Dividend proposal for the financial year 2023 • The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.75 per share be paid for the financial year 2023 • Earnings per share: EUR 1.56 (EPS) • Dividend policy • The Board o
Slide 25: Progress in strategy
Progress in strategy
Slide 26: Operating environment phenomena that guide the strategy
Operating environment phenomena that guide the strategy Demand for plant- Stronger emphasis Growth of the Increasing variation Making everyday based food on climate- frozen foods market in harvests life easier products responsible actions Transparency of the Well-being as a Versatile Development of
Slide 27: Key measures supporting strategy
Key measures supporting strategy Strategic focus areas 2023- Key measures 2023 2025 Stronger together - Research at the Räpi experimental farm continued the promotion of the cultivation of domestic pulses, among other things - Use of shared resources and interfaces in continuing operations, in ERP p
Slide 28: Key measures supporting strategy
Key measures supporting strategy Strategic focus areas 2023- Key measures 2023 2025 More domestic plant - Progress in the BlackGrain production proteins process - Launch of a project to produce Finnish pea protein - Increase in domestic frozen pea cultivation area and exports of pea Sustainable valu
Slide 29: Financial objects for 2025
Financial objects for 2025 EBIT > EUR 9.0 million 2023: EUR 7.5 million ROCE > 8.0 % 2023: 7.3 % 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 aims to distribute
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