Atria Plc, interim report, 23 October 2025, klo 8.00
ATRIA PLC INTERIM REPORT 1 JANUARY - 30 SEPTEMBER 2025
Atria's net sales increased in all business areas in July-September, and its
result was at a good level
July-September 2025
· Consolidated net sales increased to EUR 457.0 million (EUR 439.0 million).
Net sales improved across all business areas year-on-year. Atria Finland
achieved good sales performance in all sales channels.
· The consolidated adjusted EBIT was EUR 25.4 million (EUR 25.8 million), or
5.6% (5.9%) of net sales.
· Atria Finland's adjusted EBIT was EUR 21.7 million, down EUR 1.6 million
from the previous year.
· Atria Sweden's EBIT increased by EUR 1.2 million year-on-year as a result of
successful sales to retail and Foodservice customers.
· The net sales of Atria Denmark & Estonia improved year-on-year. African
swine fever was detected at two of Atria's pig farms in Estonia, which weighed
on Atria Estonia's net sales and EBIT.
· Atria is investing EUR 82.4 million in the modernisation of convenience food
production and the related energy solutions. This includes the renovation of the
existing production plant and the replacement of the production process and
other technical systems with the most energy-efficient solutions. The energy
solutions included in the investment will result in total annual savings of more
than EUR 5 million. Business Finland has granted EUR 24.7 million in clean
transition investment support to the project.
· Atria announced its new TOGETHER 2030 strategy for 2025-2030. The strategy
focuses on growing and optimizing our core business, accelerating in growth
categories with investments and resources, increasing collaboration across our
business areas for scale benefits and renewing for the future.
· Tauno Perälä, MSc (Tech), was appointed Executive Vice President of Atria's
new Group Industrial Operations function and a member of the Group Management
Team. He started in his post on 1 October 2025.
January-September 2025
· Consolidated net sales totalled EUR 1,337.2 million (EUR 1,310.1 million).
Net sales increased year-on-year, driven by strong third-quarter growth in Atria
Finland and continued good sales development in Atria Sweden. Atria Denmark &
Estonia's net sales decreased from the previous year.
· The consolidated adjusted EBIT was EUR 55.9 million (EUR 52.1 million), or
4.2% (4.0%) of net sales.
· All business areas improved their EBIT.
· The Finnish Food Workers' Union's strike in April and the related overtime
and shift change bans had a negative impact on net sales and EBIT in
January-September.
· The start of chicken meat exports to China strengthened Atria Finland's
EBIT.
· Atria Finland is investing around EUR 7 million in a new pancake production
line and the technical modernisation of the production department.
· The Group's free cash flow in the review period was EUR 37.2 million (EUR
23.1 million).
· The adjusted return on equity (rolling 12 months) was 10.9% (9.5%).
After the review period
· Atria raised its EBIT guidance for 2025 and now expects its EBIT to increase
from the previous year (EUR 65.4 million). The upward revision of the adjusted
EBIT guidance is based on favourable performance in the early part of the year
and strong sales development in the third quarter.
· After the review period, Atria announced its decision to invest around EUR
16 million in the modernisation of the Kauhajoki production plant. The
investment includes the demolition of old buildings and the construction of new
facilities. The investment strengthens the Kauhajoki unit's ability to produce
high-quality Finnish beef for both domestic and export market needs.
Q3 Q3 Q1-Q3 Q1-Q3
EUR million 2025 2024 2025 2024 2024
Net sales
Atria Finland 330.5 318.8 968.3 964.8 1,295.6
Atria Sweden 99.0 95.0 292.0 270.9 360.2
Atria Denmark & Estonia 32.7 32.4 94.1 95.2 125.9
Eliminations -5.2 -7.2 -17.2 -20.7 -26.3
Net sales, total 457.0 439.0 1,337.2 1,310.1 1,755.4
EBIT before items
affecting comparability
Atria Finland 21.7 23.3 48.6 47.5 60.4
Atria Sweden 3.6 2.4 6.6 4.0 4.5
Atria Denmark & Estonia 1.4 1.2 4.6 4.1 5.3
Unallocated -1.3 -1.1 -3.9 -3.4 -4.8
Adjusted EBIT 25.4 25.8 55.9 52.1 65.4
Adjusted EBIT, % 5.6 % 5.9 % 4.2 % 4.0 % 3.7 %
Items affecting
comparability of EBIT:
Atria Finland
Poultry business reorganization costs 1.0 1.0 1.0
EBIT 25.4 26.8 55.9 53.1 66.4
EBIT, % 5.6 % 6.1 % 4.2 % 4.1 % 3.8 %
Profit before taxes 23.4 23.2 48.6 41.6 52.1
Earnings per share, EUR 0.61 0.65 1.30 1.14 1.41
Adjusted earnings per share, EUR 0.61 0.62 1.30 1.11 1.38
CEO, Kai Gyllström
”Atria Group continued its good development in the third quarter of 2025 and in
the January-September review period. Net sales grew in all business areas, and
the Group announced its new strategy, which will guide operations until 2030.
Atria Finland's business operations saw a turn for the better in the third
quarter, as net sales to growth. This reflects good sales performance in all our
channels and a cautious recovery in the Finnish market for the product
categories we represent. We hope that consumer confidence in economic
development will strengthen, and that demand will recover. Stronger consumer
confidence would support a pickup in purchasing behaviour and foster positive
development across the food sector. In particular, the market for convenience
foods and poultry products has been on the rise.
Atria has responded to the growing demand by implementing significant
investments and launching new projects. Our most significant project in recent
years has been an investment of more than EUR 165 million in a poultry plant,
which was successfully commissioned just over a year ago. An extensive
investment programme to modernise convenience food production is currently
underway and progressing in phases. The first phase of the programme was
launched in April with an investment of EUR 7 million in pancake production. The
estimated total cost of the investment programme is around EUR 110 million. The
projects approved so far represent around EUR 90 million of this amount.
Convenience food is one of the fastest-growing product categories, and we are
committed to being strongly involved in its continued development.
Atria Finland has delivered strong financial performance throughout the year.
The key driver has been the consolidation of poultry production in Nurmo, which
has improved efficiency and profitability. In addition, good net sales growth in
the third quarter strengthened the result.
The continued strong growth in net sales and EBIT at Atria Sweden was
particularly encouraging, supported by successful sales initiatives in both
retail and the Foodservice channel. The acquisition of Gooh last year has also
added value and strengthened our position in the Swedish convenience food
market. We have succeeded in developing the Gooh convenience food business
significantly: both sales and profitability have improved markedly.
Overall performance in the Denmark & Estonia business area has been positive.
Atria Estonia's retail sales have increased. The first half of the year was
challenging for Atria Denmark due to declining volumes in both retail and
Foodservice sales. In the third quarter, however, Denmark's sales volumes
increased year-on-year. Although the volume of the Danish cold cut market has
declined, Atria has succeeded in increasing its market share.
African swine fever outbreaks in Estonia during the summer, along with the
related costs and market disruptions, weighed on Atria Estonia's performance.
Thanks to the state compensation scheme in Estonia, the direct financial impacts
of the outbreaks on Atria remained limited. After receiving compensation from
the Estonian government, the company is left with an estimated cost of around
EUR 0.5 million, which has been recognised in the second and third quarters. The
outbreaks have hindered the supply of Estonian pork, which is expected to reduce
Atria Estonia's fresh meat sales towards the end of the year. Pork production
and slaughtering are expected to return to normal next spring.
Following a strong third quarter, Atria has revised its forecast for its
adjusted EBIT upwards. The positive profit warning is based on strong
performance in the early part of the year and increased sales in the third
quarter. Towards the end of the year, uncertainty is caused by the impact of the
duties imposed on pork by China on Atria Finland's exports and the European pork
market, as well as the impact of African swine fever on Atria Estonia's
operations.
Our sustainability work progressed consistently during the review period. Atria
Finland's investments in energy solutions are significantly improving our energy
efficiency. Over the next three years, energy solutions at the Nurmo plant will
reduce Atria Group's direct CO₂ emissions by nearly half from their 2024 level.
In September, we launched our new business strategy, TOGETHER 2030, which
highlights the importance of working together to achieve our goals. The strategy
is built on our strong core business and proactively leverages future
opportunities. Our financial targets remain largely unchanged, but we have
further specified our growth indicators: the Group's target for net sales is now
over EUR 2 billion, and the target for return on equity has been raised to 12%.
The implementation and communication of the strategy began in the autumn, and
the business areas are consistently implementing the strategy in their own
operations. To support strategy implementation, we have established two new
Group functions: Atria Group Industrial Operations and Atria Group Product
Export. They aim to strengthen operational efficiency and promote the export of
products, as well as Foodservice cooperation, across borders.”
July-September 2025
Atria Group's net sales in July-September totalled EUR 457.0 million
(EUR 439.0 million). The consolidated adjusted EBIT was EUR 25.4 million
(EUR 25.8 million), or 5.6% (5.9%) of net sales.
The net sales of Atria Finland grew by EUR 11.6 million year-on-year. Good sales
development in all sales channels strengthened net sales during the review
period. In the third quarter, market developments in Atria's product categories
in the retail trade showed signs of recovering demand. The market for poultry
and convenience food products has been growing.
Atria Sweden's net sales increased by EUR 4.1 million year-on-year. Sales to
Foodservice customers developed favourably during the review period, and the
sales of Gooh convenience food products to the retail trade saw an increase. The
exchange rate for the Swedish krona strengthened, which increased net sales in
euros in the review period.
Atria Denmark & Estonia's net sales improved by EUR 0.3 million year-on-year. In
the third quarter, Atria Estonia's retail sales grew by around 5% year-on-year.
Atria Denmark's net sales volume showed an upward trend in July-September
compared with the corresponding period in the previous year. Atria's market
share in cold cuts in Denmark increased slightly in the review period.
Atria Finland's adjusted EBIT declined by EUR 1.6 million year-on-year. EBIT
remained strong, although its growth was curbed by rising costs. Atria Sweden's
EBIT grew by EUR 1.2 million. Growth in net sales, successful sales and
marketing efforts and improved efficiency strengthened Atria Sweden's EBIT.
Atria Denmark & Estonia's EBIT increased by EUR 0.2 million year-on-year.
Additional costs and market disruptions caused by African swine fever weighed on
Atria Estonia's performance.
African swine fever was detected at two of Atria's pig farms in Estonia. The
first infection was detected in late June, and the second in August. Thanks to
the state compensation scheme in Estonia, the direct financial impacts of the
outbreaks on Atria remained limited. After receiving compensation from the
Estonian government, Atria is left with an estimated cost of around EUR 0.5
million, which has been recognised in the second and third quarters. The
outbreak has significantly limited the availability of domestic pork and will
reduce Atria Estonia's fresh meat sales towards the end of the year. Pork
production and slaughtering are expected to return to pre-outbreak levels next
spring. As a risk management measure, Atria has limited all movement between
sites to a minimum.
In July, Atria announced an investment of EUR 82.4 million in convenience food
production and green transition energy solutions in Nurmo. The investment
includes the renovation of the existing production plant in Nurmo, as well as
the replacement of its production process and other technical systems with the
most energy-efficient solutions. In addition, heat production is modified so as
not to produce any carbon dioxide emissions. The renewed production process
enables the development of innovative products, improved product quality and the
utilisation of state-of-the-art technology in convenience food production. These
measures are major steps towards Atria's ambitious environmental goals. The
project will create a model for a carbon-neutral plant concept of the future.
Business Finland has granted EUR 24.7 million in investment aid for clean
transition projects to the EUR 82.4 million project. This investment project is
part of a more extensive investment programme to modernise convenience food
production. The investment programme will be implemented in stages. The
programme was launched in April with an investment of EUR 7 million in pancake
production. Atria continues to plan the next phases of the investment programme,
which may also include investments in expanding the production of convenience
food. The estimated total cost of the investment programme is EUR 110 million.
The projects approved so far represent around EUR 90 million of this amount.
Tauno Perälä, MSc (Tech), was appointed Executive Vice President of Atria
Group's Industrial Operations function and a member of the Group Management
Team. He started in his post on 1 October 2025. Since joining Atria Finland in
2011, Perälä has served in demanding production leadership positions. Alongside
his new responsibilities, he will continue to serve as SVP of Industrial
Operations at Atria Finland and as a member of Atria Finland's Management Team.
Jaana Viertola-Truini, a member of the Board of Directors of Atria Plc, resigned
from the Board due to her other work commitments. Atria will continue for the
time being with eight Board members.
Merja Leino, who has long served as Atria Group's EVP for sustainability, has
announced that she will retire on 1 June 2026. After the review period, Kati
Janhunen, MSc (Econ), was appointed as Atria Group's EVP, Sustainability, and a
member of the Group Management Team.
Atria Finland's net sales in July-September totalled EUR 330.5 million (EUR
318.8 million). Good sales development in all channels strengthened net sales in
the review period. In the third quarter, market developments in Atria's product
categories in the retail trade showed signs of a cautious recovery in demand.
The market for poultry and convenience food products has been growing. Adjusted
EBIT was EUR 21.7 million (EUR 23.3 million). Adjusted EBIT for the review
period decreased by EUR 1.6 million. EBIT remained strong, although its growth
was curbed by rising costs.
Atria Sweden's net sales in July-September were EUR 99.0 million
(EUR 95.0 million). Net sales grew by EUR 4.1 million year-on-year. In Sweden,
the market for poultry products and convenience food grew, and Atria's market
share strengthened in these product categories. Sales to Foodservice customers
developed favourably during the review period, and the sales of Gooh convenience
food products to the retail trade saw an increase. Atria's new poultry BBQ range
performed well in summer sales. The exchange rate for the Swedish krona
strengthened, which increased net sales in euros in the review period. EBIT
totalled EUR 3.6 million (EUR 2.4 million). Growth in net sales, successful
sales and marketing efforts and improved efficiency strengthened Atria Sweden's
EBIT. Raw material prices remained high.
Atria Denmark & Estonia's net sales in July-September were EUR 32.7 million (EUR
32.4 million). EBIT totalled EUR 1.4 million (EUR 1.2 million). Atria Estonia's
retail sales increased by around 5% in the third quarter from the corresponding
period in the previous year. Atria Estonia's result was burdened by additional
costs caused by an outbreak of African swine fever. Problems with the
availability of local raw material due to the disease outbreak reduced fresh
meat sales to industrial customers compared with the corresponding period in the
previous year. African swine fever was detected at two of Atria's pig farms in
Estonia. The first infection was detected in late June, and the second in
August. Thanks to the state compensation scheme in Estonia, the direct financial
impacts of the outbreaks on Atria remained limited. After receiving compensation
from the Estonian government, Atria is left with an estimated cost of around EUR
0.5 million, which has been recognised in the second and third quarters. The
outbreak has significantly limited the availability of domestic pork and will
reduce Atria Estonia's fresh meat sales towards the end of the year. Pork
production and slaughtering are expected to return to pre-outbreak levels next
spring. As a risk management measure, Atria has limited all movement between
sites to a minimum.
January-September 2025
Atria Group's net sales in January-September were EUR 1,337.2 million
(EUR 1,310.1 million). Consolidated adjusted EBIT was EUR 55.9 million
(EUR 52.1 million), or 4.2% (4.0%).
Net sales increased by EUR 27.1 million year-on-year. Atria Sweden's net sales
grew by EUR 21.1 million. Sales to the retail trade and Foodservice customers
have developed favourably. The acquisition of Gooh in May 2024 increased net
sales. The exchange rate for the Swedish krona strengthened, which increased net
sales in euros. Atria Finland's net sales grew by EUR 3.5 million. Strong net
sales development in July-September set Atria back on a growth track after a
sluggish start to the year. The Finnish Food Workers' Union's strike in April
and the related overtime and shift change bans had a negative impact on the net
sales of the review period. The net sales of Atria Denmark & Estonia decreased
by EUR 1.1 million.
The consolidated adjusted EBIT of EUR 55.9 million in January-September was EUR
3.8 million higher than in the corresponding period in the previous year. All
business areas improved their results. Atria Finland's adjusted EBIT improved by
EUR 1.1 million in January-December. The good performance in January-September
is caused by the improved efficiency of poultry production and the concentration
of production in the new poultry plant in Nurmo. In addition, strong net sales
growth in the third quarter, along with the start of chicken meat exports to
China at the end of last year, were key drivers of the improved EBIT. Atria
Sweden's EBIT grew by EUR 2.6 million year-on-year. Growth in net sales,
successful sales and marketing efforts and improved efficiency strengthened
Atria Sweden's EBIT. Atria Denmark & Estonia's EBIT was EUR 0.6 million higher
than in the comparison period.
In April, Atria Finland announced that it would invest approximately EUR 7
million in a new pancake production line and the technical modernisation of the
production department. With this investment, Atria is responding to the growth
in consumer demand and strengthening its position and competitiveness in the
growing market for convenience food. The demand for pancakes in Finland has
increased significantly over the last year. Measured in value, the market growth
is around 14% compared with the previous year. The investment in pancake
production enables the development of a new kind of product range and the
utilisation of a more diverse raw material base. At the same time, the
production capacity of pancakes will increase, enabling the growth of both
domestic supply and exports. The investment is due to be completed in the summer
of 2026, after which the new production line will be commissioned.
Atria Finland's net sales in January-September were EUR 968.3 million (EUR 964.8
million). Strong net sales development in July-September restored Atria to a
growth track after a sluggish start to the year. The Finnish Food Workers'
Union's strike in April and the related overtime and shift change bans had a
negative impact on net sales in the review period. The nutrition recommendations
published at the end of last year have had a negative impact on consumer demand
for meat products, but the decline in demand is easing compared with the early
part of the year. Full deliveries could not be made for the Easter and May Day
periods due to the Finnish Food Workers' Union's strike in April and the
overtime and shift change bans related to labour market negotiations. Industrial
action had a negative impact on deliveries and the net sales and EBIT of the
review period. Adjusted EBIT was EUR 48.6 million (EUR 47.5 million), up EUR 1.1
million from the corresponding period in the previous year. The good performance
in January-September is caused by the improved efficiency of poultry production
and the concentration of production in the new poultry plant in Nurmo. In
addition, strong net sales growth in the third quarter, along with the start of
chicken meat exports to China at the end of last year, were key drivers of the
improved EBIT.
Atria Sweden's net sales in January-September were EUR 292.0 million (EUR 270.9
million). Net sales grew by EUR 21.2 million year-on-year. Sales to the retail
trade and Foodservice customers have developed favourably. The acquisition of
Gooh in May 2024 increased net sales. Atria has significantly developed its Gooh
convenience food business: both sales and profitability have improved markedly.
The Gooh brand celebrated its 20th anniversary, and its visual identity was
refreshed in September. The exchange rate for the Swedish krona strengthened,
which increased net sales in euros. EBIT totalled EUR 6.6 million (EUR 4.0
million). Successful sales and marketing measures contributed to an increase in
EBIT. Improved efficiency in production and logistics also strengthened Atria
Sweden's result.
Atria Denmark & Estonia's net sales in January-September were EUR 94.1 million
(EUR 95.2 million). EBIT totalled EUR 4.6 million (EUR 4.1 million). The
positive trend in EBIT was driven by the continued strong sales volumes to the
retail trade of Atria Estonia. Atria Estonia delivered a solid result despite
outbreaks of African swine fever at its pig farms in June and August, leading to
additional costs and market disruptions. EBIT improved as a result of stronger
market shares and increased sales to the retail trade. The highest sales growth
was recorded in minced meat, sausages and ham products. In the third quarter,
the sales volumes of sausages and ham products increased by 16% and 13%
respectively. In Atria Denmark, the weak development of sales to retail trade
and Foodservice customers in the first half of the year weighed on EBIT.
Group key indicators
Q3 Q3 Q1-Q3 Q1-Q3
EUR million 2025 2024 2025 2024 2024
Net sales 457.0 439.0 1337.2 1310.1 1755.4
Adjusted EBIT 25.4 25.8 55.9 52.1 65.4
Adjusted EBIT, % 5.6 % 5.9 % 4.2 % 4.0 % 3.7 %
EBIT 25.4 26.8 55.9 53.1 66.4
EBIT, % 5.6 % 6.1 % 4.2 % 4.1 % 3.8 %
EPS, EUR 0.61 0.65 1.30 1.14 1.41
Adjusted EPS, EUR 0.61 0.62 1.30 1.11 1.38
Shareholders´ equity 15.09 14.17 14.28
per share EUR
Equity ratio, % 44.8 % 42.2 % 43.2 %
Adjusted return on 10.9 % 9.5 % 10.2 %
equity (rolling 12m), %
Adjusted return on 10.5 % 9.5 % 10.1 %
investment (rolling
12m), %
Sustainability: aiming for a carbon neutral food chain
On 7 March 2025, Atria published its first sustainability report in accordance
with the Corporate Sustainability Reporting Directive (CSRD) as part of the
Board of Directors' report. The report is published on Atria's website at:
https://www.atria.com/en/investors/financial-information/annual-reports/
A carbon neutral food chain is the most important goal of Atria's sustainability
work. Atria's emissions reduction targets have been officially approved by the
Science Based Targets (SBTi) initiative. The targets are based on the Paris
Climate Agreement and aim to limit global warming to 1.5 degrees Celsius
globally. In the targets approved by SBTi, Atria commits to reducing greenhouse
gas emissions from its own operations (Scopes 1 and 2) by 42% by 2030 from 2020
levels. The reduction target for Scope 3 emissions is 20% per tonne of processed
meat by 2030.
During the review period, Atria Finland launched an investment related to
modernising convenience food production, improving energy efficiency and
reducing energy consumption. The investment is expected to total EUR 82,4
million. At the Nurmo production plant, technical equipment is being replaced
with more energy-efficient alternatives, and heat production is being modified
to avoid generating any carbon dioxide emissions. These measures are major steps
towards achieving Atria's environmental goals. The project will create a model
for a carbon-neutral plant concept of the future. The plant's annual energy
consumption is expected to decrease by around 50,000 MWh, which is around 21% of
Atria Finland's energy consumption. In the next three years, the energy
solutions implemented at the Nurmo plant will reduce Atria Group's carbon
dioxide emissions (Scopes 1 and 2) by around 32,000 equivalent tonnes, almost
halving them from the 2024 level of 68,000 equivalent tonnes.
In Sweden, a more energy-efficient new refrigeration unit was installed at the
Borås plant. At the Sköllersta plant, energy efficiency was improved by renewing
the compressed air system, pellet boiler control and the washing practices of
the production facilities. In Tranås, the ventilation unit serving offices and
other facilities was replaced, and a new automated electric-pellet switching
system was introduced.
Future outlook and guidance
Atria Group's adjusted EBIT in 2025 is expected to be higher than the previous
year (EUR 65.4 million).
After the record year of financial performance, supported by the significant
efficiency and expansion investments in 2023- 2024, Atria is in a good position
to perform well in 2025. Atria's good market position, strong brands, good
customer relationships and reliable industrial processes provide good conditions
for business stability.
However, uncertainty regarding the earnings development for the remainder of the
year is still caused by the impact of tariffs imposed by China on pork exports
from Atria Finland and on the European pork market, as well as the potential
economic and operational effects of African swine fever on Atria Estonia.
Disclosure
Atria Plc complies with the disclosure procedure in accordance with standard
5.2b of the Financial Supervisory Authority and publishes its interim report for
1 January to 30 September 2025 as an attachment to this stock exchange release.
The full release is available on the company's website at www.atria.com.
Publication of the interim report
Atria Plc's CEO Kai Gyllström will present the company's half-year financial
report in a webcast today, 23 October, 2025 at 10 - 11 am. The webcast is
available on Atria's website at www.atria.com/sijoittajat/ in Finnish language.
During the webcast, you can ask questions in writing via chat. The presentation
material will be available during the same day at
www.atria.com/en/investors/financial-information/interim-reports/.
ATRIA PLC
Board of Directors
For more information, please contact: Kai Gyllström, CEO, Atria Plc. Contacts
and interview requests via Communications Manager Marja Latvatalo, e-mail:
marja.latvatalo@atria.com, tel. +358 400 777 874.
DISTRIBUTION
Nasdaq Helsinki Ltd
Major media
www.atria.com
The interim report is available on our website at www.atria.com.