Apetit Oyj · OMXHEX:APETIT
Apetit Oyj — H1 2024 Earnings Presentation
17 slides from Apetit Oyj's earnings presentation, 2024
Slide 1: Half-year Review 2024
Half-year Review 2024 Esa Mäki, CEO, Apetit Plc
Slide 2: January-June 2024: net sales and operating result
January-June 2024: net sales and operating result NET SALES, EUR MILLION OPERATING RESULT, EUR MILLION • Net sales amounted to EUR 79.2 (93.2) million 1-6 2023 1-6 2024 1-6 2023 1-6 2024 • Operating result was EUR 3.3 (2.7) million • EBITDA was EUR 6.5 (5.5) million 93,2 • Both businesses have impro
Slide 3: April-June 2024: net sales and operating result
April-June 2024: net sales and operating result • Net sales were EUR 37.0 (45.0) million NET SALES, EUR MILLION OPERATING RESULT, EUR MILLION • Operating result was EUR -0.1 (0.7) million • EBITDA was EUR 1,5 (2,5) million 4-6 2023 4-6 2024 4-6 2023 4-6 2024 • The change in market prices for oilseed
Slide 4: Strong financial position
Strong financial position EUR million 30.6.2024 30.6.2023 Working capital 21.6 17.5 Group’s net cash flow from operating activities 6.8 7.7 Group’s total equity 100.5 96.8 Group’s net debt -6.3 -14.7 Group’s Equity ratio, % 82.5 85.8 Group’s Gearing, % -6.2 -15.2 Earnings per share, EUR 0.32 0.45 Gr
Slide 5: Food Solutions April-June 2024: Operating result at the level of comparison period
Food Solutions April-June 2024 Operating result at the level of comparison NET SALES, EUR MILLION period 4-6 2023 4-6 2024 16,7 16,5 • Net sales were EUR 16.5 (16.7) million and operating result EUR -0.1 (-0.1) million • Net sales were almost on a par with the comparison period -1% • In retail trade
Slide 6: Outlook for root vegetables is moderately good
Outlook for root vegetables is moderately good • The outlook for the harvest season is currently fairly good • The possible realisation of risks related to harvesting will only be seen during the autumn • The harvest season of Finnish field vegetables has progressed largely as planned • The hot and
Slide 7: Sustainable packaging solutions
Sustainable packaging solutions • Apetit is committed to change all of its packaging materials to recyclable • At the end of 2023, the share of recyclable packaging materials was 77 per cent • In the second half of 2024, the Apetit Domestic Peas and Apetit Domestic Spinach and Wok products, for exam
Slide 8: Operating environment: inflation has slowed down
Operating environment: inflation has slowed down • Food inflation in June 2024 was -0.4 per cent when compared to June last year* • Grocery sales increased by 1.9 per cent in January–June, during the same period, grocery prices rose by 0.5 per cent ** • Wholesale food service sales decreased by 2.8
Slide 9: Oilseed Products April-June 2024: Operating result decreased
Oilseed Products April-June 2024 Operating result decreased from the strong result in the comparison period NET SALES, EUR MILLION 4-6 2023 4-6 2024 28,5 • Net sales were EUR 20.7 (28.5) million 20,7 and operating result EUR 0.7 (1.4) million • The decrease in net sales was mainly due to the fall in
Slide 10: The work on the new bottling line is progressing
The work on the new bottling line is progressing • The work on the new bottling line for the Kantvik vegetable oil milling plant is progressing • The construction work related to the property is in the final phase and the installation of equipment has started • The investment of approximately EUR 4.
Slide 11: Increase in the cultivation areas for Finnish turnip rape and rapeseed
Increase in the cultivation areas for Finnish turnip rape and rapeseed • According to the Natural Resources Institute Finland’s preliminary statistics, the total cultivation area of rapeseed in this growing season is 41,300 hectares • As a whole, a decrease of approximately 8 per cent when compared
Slide 12: Current topics
Current topics
Slide 13: More domestic plant proteins
More domestic plant proteins • For the BlackGrain rapeseed powder, the work has focused on developing the production process on a commercial scale • The pea protein project has continued small- scale testing to produce pea protein from Finnish raw ingredients • With both projects, we are increasing
Slide 14: Cultivation development
Cultivation development • In April, a multi-year project co-funded by the European Union was launched • Aim of increasing the cultivation reliability and volume of turnip rape and rapeseed in Finland • The focus of the RypsiRapsi forum’s trial activities is on variety tests carried out as strip and
Slide 15: ERP project on schedule
ERP project on schedule • The important ERP project has progressed according to schedule • The first phase of production implementation is scheduled to take place in the second half of the year • Some of Apetit’s operations have already implemented the new ERP system at the end of last year
Slide 16: Profit guidance for 2024 unchanged
Profit Otsikkoguidance for 2024 unchanged • 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
Slide 17: Slide 17