Stable sales for Atria in the first 9 months
The company's EBIT was down to €21.5 million in the mentioned period from €27.5 million in 2017, which was attributed to the poor profits reported in Sweden and Russia due to currency fluctuations.
Atria saw good results in the markets from Finland, Denmark and Estonia, but its business suffered in Sweden and Russia because of a weak krona and rouble and the increase in prices for raw materials.
"“The moderately good economy has had a positive impact on consumer demand, and market development has remained favorable in all the countries in our business areas. The poultry and convenience food product groups showed the largest growth. Eating out continues to increase its popularity, yielding interesting opportunities for increasing Food Service sales. On the other hand, the increased demand has raised the costs of several materials, supplies and services. Price competition has continued strong," said Juha Gröhn, CEO Atria.
"In Sweden, the growth and profitability targets were not reached. This was influenced by high raw material costs, the poor profitability of poultry operations, and the persistently weak Swedish krona, thus increasing the costs of imported materials and supplies," Gröhn added.
The CEO of Atria is expecting a further increase in prices for raw materials by the end of this year. "The prices of cereals, crops and animal feed have increased strongly during the autumn. The price of meat is also on the rise. Atria is preparing for increased raw material costs.”
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