Atria Plc, Half-year financial report, 22 July 2026, 8.00 am

HALF-YEAR FINANCIAL REPORT OF ATRIA PLC, 1 JANUARY - 30 JUNE 2026

Atria Group's net sales grew - EBIT improved for all business areas

April-June 2026

• Consolidated net sales totalled EUR 481.2 million (EUR 459.8 million). In April-June, the Group's net sales grew by 4.6% compared with the corresponding period of the previous year.
• Atria Finland's net sales were 5.9% higher than in the corresponding period last year. Growth was supported by the positive development of sales to retail trade and Foodservice customers. A strong start to the barbecue season boosted the growth of net sales.
• Atria Sweden's net sales grew by 1.6% from the corresponding period in the previous year. Growth was driven by strong sales to Foodservice customers and increased sales of Gooh! products.
• Atria Denmark & Estonia's net sales were 1.6% lower than in the corresponding period of the previous year.
• The Group's consolidated EBIT amounted to EUR 20.7 million (EUR 17.6 million), or 4.3% (3.8%) of net sales. EBIT of all business areas improved.
• Atria Finland's EBIT was EUR 2.3 million higher than in the comparison period. The good result was driven by increased net sales.
• Atria Sweden's EBIT grew by EUR 0.8 million, thanks to effective sales and marketing measures and a favourable sales structure.
• The EBIT of Atria Denmark & Estonia increased by EUR 0.1 million.
• Despite the improved result, general cost pressures continued during the review period. The effects of the conflict in the Middle East on rising costs began to be felt toward the end of the review period, and these effects are expected to intensify during the remainder of the year.
• Atria continued to invest in its growing convenience food business in line with its TOGETHER strategy. In Sweden, the company launched an approximately EUR 7 million investment to increase the production capacity of microwave meals at the Järna production plant. In Finland, the company is investing approximately EUR 1 million in a packaging solution for the pancake production at the Nurmo plant. Investments increase capacity, support growth, and open up opportunities for new products, packaging sizes, and product types.
• Atria started the construction of a new pig fattening farm in Estonia. The value of the investment is around EUR 4 million. The project has received approximately EUR 1.5 million in investment aid.
• Atria distributed a dividend of EUR 0.75 per share (EUR 0.69/share) for 2025.

January-June 2026

• Consolidated net sales totalled EUR 931.5 million (EUR 880.3 million). Net sales were 5.8% higher than in the corresponding period of the previous year as a result of strong sales growth for both Atria Finland and Atria Sweden. Atria Denmark & Estonia's sales were lower than in the corresponding period of the previous year.
• EBIT was EUR 34.6 million (EUR 30.5 million), or 3.7% (3.5%) of net sales. The Group's EBIT was EUR 4.2 million higher than in the comparison period.
• EBIT of all business areas improved.
• In March, Atria Sweden acquired a 25% stake in the Swedish convenience food company Cookin Food Sweden AB. The investment will support the implementation of the TOGETHER 2030 strategy by strengthening Atria's position in the growing convenience food market and creating new growth opportunities in Sweden.
• The investments launched by Atria in 2025 in convenience food production at the Nurmo plant, beef production at the Kauhajoki plant and meat products at the Sköllersta plant proceeded in schedule as planned. 
• During the review period, the Group's free cash flow was EUR -14.6 million (EUR 44.0 million). The negative cash flow was due to increased investments and working capital.
• The adjusted return on equity (rolling 12 months) was 11.4% (11.1%).

CEO, Kai Gyllström

"The first half of the year has been strong for Atria Group. Both our net sales and EBIT improved during the January-June period. We're particularly pleased that the EBIT of all our business areas improved in comparison with the corresponding period of the previous year. However, towards the end of the period, the cost pressure caused by the Middle East conflict began to affect the result. These impacts are expected to intensify during the second half of the year.

The consolidated net sales increased to EUR 931.5 million, while EBIT was EUR 34.6 million, representing 3.7% of net sales. The increase in net sales resulted from strong growth in the sales of Atria Finland and Atria Sweden. The start of the barbecue season was strong already in May, which was reflected in the growth of sales during the reporting period. In January-June, Atria Finland's net sales grew by 7.0%, while the net sales of Atria Sweden were 3.2% higher than in the comparison period. Atria Denmark & Estonia's net sales, on the other hand, were slightly lower than in the comparison period.

The company's result development during the review period was also strong, with EBIT improving by EUR 4.2 million. The EUR 1.7 million improvement in Atria Finland's result for January-June was driven by growth in net sales and a favourable sales mix across the various sales channels. The sales for the barbecue season got off to an excellent start. Atria Sweden's strong sales mix and successful marketing and sales initiatives improved its result. The Swedish market suffered from a shortage of poultry meat at the beginning of the year but is returning to normal. Atria Denmark & Estonia's EBIT was higher than in the comparison period. In Estonia, operations have continued at a good level, and Atria Estonia also received more subsidies for the improvement of animal welfare in the first quarter than in the comparison period.

The second quarter and the summer season are the most important times of the year for Atria. Barbecuing is an important part of Nordic food culture, and consumer interest in grilled food has remained high. We responded to the summer demand with a wide range of new products: Atria Finland launched 20 new products for the barbecue season, and Atria Estonia 12, while Atria Sweden has revamped its Sibylla range and introduced new products. Successful product launches supported sales growth and strengthened our presence in consumers' summer kitchens.

During the review period, we continued to implement our TOGETHER strategy by investing in the growing convenience food business in both Sweden and Finland. In Sweden, we invested approximately EUR 7 million in a new production line for Gooh! microwave meals at the Järna production plant. In Finland, we invested in a new pancake packaging solution at the Nurmo plant. The investments will strengthen our competitiveness in the growing convenience food market, increase production capacity, and create conditions for the creation of new products and packaging solutions.

The Maks & Moorits brand was found to be the most popular food brand in Estonia in a consumer survey conducted by Kantar Emor. This demonstrates the brand's strong position among consumers and reflects our success in long-term product and brand development. It also strengthens Atria's market position in Estonia.

The international meat and export market remained challenging during the review period, particularly for pork. The oversupply of pork on the European market depressed market prices, and there was an unusual decline in the price of pork during the summer season. The market is expected to remain volatile until the end of 2026.

During the review period, the conflict in the Middle East, the continuation of Russia's war of aggression in Ukraine, and the increasingly tense geopolitical situation added uncertainty to the operating environment. These factors were reflected in cost pressures throughout the food supply chain. Despite the challenging market environment, Atria focused resolutely on strengthening its competitiveness, managing its costs and implementing its strategy."

April-June 2026

Atria Group's net sales were EUR 481.2 million (EUR 459.8 million) in April-June. EBIT was EUR 20.7 million (EUR 17.6 million), or 4.3% (3.8%) of net sales.

Atria Finland's net sales grew by 5.9% when compared with the corresponding period of the previous year. Growth was supported by the positive development of sales to retail trade and Foodservice customers. A strong start to the barbecue season boosted the growth of net sales even further. Export and industrial sales were lower than in the previous year. The international meat market and export market remained challenging, especially for pork. The international beef market stabilised somewhat, which was reflected in increased supply and lower prices in Europe's industrial and export markets.

Atria Sweden's net sales grew by 1.6% in euros and by 0.7% in local currency compared with the corresponding period of the previous year. This growth was driven by strong sales to Foodservice customers and increased sales of Gooh! products. Sales of the new Sibylla products, launched in March, got off to a successful start in the Swedish retail trade.

Atria Denmark & Estonia's net sales were lower than in the comparison period. Atria Estonia's net sales increased compared to the corresponding period of the previous year. Atria Denmark's sales to retail trade customers decreased, but the value of exports was higher than in the corresponding period of the previous year.

Atria Finland's EBIT for the review period improved by EUR 2.3 million in comparison with the corresponding period of the previous year. The strong performance was the result of increased net sales. Despite the improved result, cost pressures remained high, affecting particularly the costs of our own operations and purchased services.

Atria Sweden's EBIT increased by EUR 0.8 million during the review period. Effective sales and marketing measures, along with a favourable sales mix across various distribution channels and product categories, bolstered Atria Sweden's EBIT.

Atria Denmark & Estonia's EBIT increased by EUR 0.1 million from the comparison period. The growth of Atria Estonia's EBIT was supported by increased sales to retail trade and a successful start to the barbecue season. The EBIT for the comparison period includes a cost of EUR 0.6 million related to the African swine fever case detected at Atria's pig farm in Estonia a year ago. Atria Denmark's EBIT was lower than in the comparison period.

The effects of the situation in the Middle East began to show towards the end of the review period. The tensions in the international operating environment are expected to keep placing pressure on the costs of the entire food supply chain.

In line with its TOGETHER strategy, Atria launched an investment in the growing convenience food product category in Sweden and Finland. In Sweden, the company is making a growth investment of approximately EUR 7 million in a new microwave meal production line at the Järna production facility, where Gooh! convenience food products are produced. The investment will strengthen Atria's position in the rapidly growing convenience food market and improve its ability to respond to changes in consumer demand.

In Finland, Atria is investing approximately EUR 1 million in a packaging solution for the pancake production line at the Nurmo plant, aiming to increase production capacity and improve efficiency. The investment will support business growth, diversify the product range, and enable the development of new products, packaging sizes, and product types.

Atria started the construction of a new pig fattening farm in Viljandi County, Estonia. The approximately EUR 4 million investment will improve Atria's ability to secure the availability of raw material and improve the efficiency and sustainability of production even further. The approximately EUR 1.5 million investment aid granted to the project will partly support the implementation of the investment.

In Estonia, the Maks & Moorits brand was found to be the country's most popular food brand in a consumer survey conducted by Kantar Emor. Kantar Emor is Estonia's leading market and consumer research company. The appreciation demonstrates the brand's strong position among consumers and further strengthens Atria's market position in Estonia.

Kati Janhunen, MSc (Econ.), started as Atria Group's EVP, Sustainability, and member of the Group Management Team on 1 June 2026.

In April-June, Atria Finland's net sales amounted to EUR 349.4 million (EUR 330.1 million). Net sales increased by 5.9% from the corresponding period last year. Growth was supported by the positive development of sales to both retail trade and Foodservice customers. A strong start to the barbecue season boosted the growth of net sales even further. Export and industrial sales were lower than in the previous year. The international meat market and export market remained challenging, especially for pork. The international beef market stabilised somewhat, which was reflected in increased supply and lower prices in Europe's industrial and export markets. EBIT totalled EUR 17.9 million (EUR 15.7 million). EBIT for the review period increased by EUR 2.3 million from the comparison period. The strong performance was the result of increased net sales. Despite the improved result, cost pressures continued, including in the costs of own operations and purchased services. The costs of the company's own operations were affected by the cumulative effect of the wage agreements made in recent years. The effects of the situation in the Middle East began to show towards the end of the review period.

In April-June, Atria Sweden's net sales were EUR 105.8 million (EUR 104.1 million). Net sales grew by 1.6% in euros and by 0.7% in local currency compared with the corresponding period of the previous year. This growth was driven by strong sales to Foodservice customers and increased sales of Gooh! products. Sales of the new Sibylla products, launched in March, got off to a successful start in the Swedish retail trade. EBIT totalled EUR 3.0 million (EUR 2.3 million). Atria Sweden's EBIT increased by EUR 0.8 million during the review period. Effective sales and marketing measures, along with a favourable sales mix across various distribution channels and product categories, bolstered Atria Sweden's EBIT. Profitability continued to be weighed down by high beef prices and the increase in transportation and production costs due to tensions in the international operating environment. The price of pork fell due to an imbalance in the European market.

Atria Denmark & Estonia's net sales in April-June were EUR 31.1 million (EUR 31.6 million). EBIT totalled EUR 1.6 million (EUR 1.5 million). Atria Estonia's net sales and EBIT increased compared with the corresponding period last year. The growth of Atria Estonia's EBIT was supported by increased sales to retail trade and a successful start to the barbecue season. The EBIT for the comparison period includes a cost impact of EUR 0.6 million related to the African swine fever case detected at Atria's pig farm in Estonia a year ago. The development of the cold cut market in Danish retail trade in terms of both value and volume has been sluggish. Significant promotional campaigns and price competition continued in the Danish market during the review period. As a result, the market's value development lagged behind its volume development. The value of Atria Denmark's exports was higher than in the corresponding period of the previous year. During the review period, Atria Denmark continued to focus on cost management, supply chain efficiency, and productivity improvement.

January-June 2026

Atria Group's net sales in January-June were EUR 931.5 million (EUR 880.3 million). The Group's consolidated EBIT amounted to EUR 34.6 million (EUR 30.5 million), or 3.7% (3.5%) of net sales. The Group's net sales increased by 5.8% in comparison to the corresponding period of the previous year.

Atria Finland's net sales grew by 7.0% compared with the corresponding period of the previous year. Growth was supported by good sales development in all sales channels, except for exports. Sales improved particularly to retail customers. Sales to Foodservice customers also increased. The barbecue season got off to a great start. Higher prices for beef products compared with the comparison period boosted net sales.

Atria Sweden's net sales grew by 3.2% in euros and by 0.4% in local currency compared with the corresponding period of the previous year. The avian influenza epidemic that broke out in Sweden at the end of 2025 continued into early January 2026 and significantly reduced the availability of poultry raw material in the Swedish market during the first quarter. Supply challenges had a negative effect on Atria Sweden's net sales. During the second quarter, the avian influenza situation has eased, and the availability of poultry raw material is returning to pre-epidemic levels. The net sales of Atria Denmark & Estonia were lower than in the corresponding period of the previous year due to a decrease in Atria Denmark's net sales.

The Group's EBIT for January-June totalled EUR 34.6 million (EUR 30.5 million). Atria Finland's EBIT improved by EUR 1.7 million in January-June. A favourable sales mix together with a strong start of the barbecue season strengthened the result. Cost pressures remained high for both our own operations and purchased services. In addition, tensions in the international operating environment are expected to place cost pressure on the entire food supply chain. The effects of the situation in the Middle East began to show towards the end of the review period.

Atria Sweden's EBIT grew by EUR 1.5 million from the previous year. Successful sales and marketing measures and a more favourable sales mix contributed to the good result. Atria Denmark & Estonia's EBIT was EUR 1.0 million higher than in the comparison period. The growth of Atria Estonia's EBIT was supported by increased sales to the retail trade and higher animal welfare subsidies than in the comparison period. The EBIT for the comparison period includes a cost impact of EUR 0.6 million related to the African swine fever case detected at Atria's pig farm in Estonia a year ago. 

In March, Atria Sweden acquired a 25% stake in the Swedish convenience food company Cookin Food Sweden AB. Convenience food is one of the fastest-growing product categories, and Atria is aiming for strong growth in its convenience food business. Cookin Food Sweden AB's main products are salads and sandwiches sold to the Swedish retail sector, as well as to Foodservice and transport service customers. The acquisition is in line with Atria's TOGETHER 2030 strategy and strengthens the company's position in the growing convenience food market.

The investments launched by Atria in 2025 in convenience food production at the Nurmo plant, beef production at the Kauhajoki plant and meat products at the Sköllersta plant are proceeding in schedule as planned.

Atria Plc transferred a total of 30,194 shares of Atria Plc held by the company, without consideration, to key Group personnel in the target group of the share-based incentive scheme for the 2023, 2024, and 2025 earning periods as a reward. After the transfer of the shares, the company holds 33,580 of its own shares.

Atria Finland's net sales in January-June were EUR 682.2 million (EUR 637.8 million). Net sales grew by 7.0% from the corresponding period last year. Growth was supported by good sales development in all sales channels, except for exports. Sales improved particularly to retail customers. Sales to Foodservice customers also increased. Sales for the barbecue season got off to a good start. Higher prices for beef products compared with the comparison period boosted net sales. EBIT was EUR 28.6 million (EUR 26.9 million), i.e., EUR 1.7 million higher than in the corresponding period of the previous year. The result was bolstered by a favourable sales mix and a strong start to the barbecue season. Cost pressures remained high for both our own operations and purchased services. In addition, tensions in the international operating environment are expected to place cost pressure on the entire food supply chain.

Atria Sweden's January-June, net sales amounted to EUR 199.2 million (EUR 193.0 million). In euros, net sales grew by 3.2%, and in the local currency, by 0.4%, compared with the corresponding period of the previous year. The avian influenza epidemic that broke out in Sweden at the end of 2025 continued into early January 2026 and significantly reduced the availability of poultry raw material in the Swedish market during the first quarter. Supply challenges had a negative effect on Atria Sweden's net sales. During the second quarter, the avian influenza situation has eased, and the availability of poultry raw material is returning to pre-epidemic levels. EBIT totalled EUR 4.5 million (EUR 3.0 million). Atria Sweden's EBIT was strengthened by effective sales and marketing measures, as well as a favourable sales structure across the various distribution channels and product categories. Tensions in the international operating environment increased costs throughout the food supply chain.

Atria Denmark & Estonia's net sales in January-June were EUR 60.1 million (EUR 61.4 million). EBIT totalled EUR 4.2 million (EUR 3.2 million). The net sales of Atria Denmark & Estonia were lower than in the corresponding period of the previous year due to a decrease in Atria Denmark's net sales. Atria Estonia's net sales and EBIT increased compared with the corresponding period last year. The growth of Atria Estonia's EBIT was supported by increased sales to the retail trade and higher animal welfare subsidies than in the comparison period. The EBIT for the comparison period includes a cost impact of EUR 0.6 million related to the African swine fever case detected at Atria's pig farm in Estonia a year ago. Atria Denmark's sales to retail trade and export customers were lower than in the corresponding period of the previous year.  Sales to Foodservice customers was higher than in the corresponding period of the previous year.

Sustainability: aiming for a carbon neutral food supply chain

On 11 March 2026, Atria published its Sustainability Statement for 2025, prepared in accordance with the Corporate Sustainability Reporting Directive (CSRD), as part of the Board of Directors' report. The report can be found on Atria's website at: https://www.atria.com/en/investors/financial-information/annual-reports/.

A carbon neutral food supply 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 made progress in research and development related to alternative proteins, with the aim of strengthening the value chain of Finnish plant-based protein production. Atria Finland launched a project to explore the expansion of its raw material base to include alternative proteins. The goal of the project is to build a value chain for plant protein production, from contract producers through raw material processing to various end products for both domestic and export markets. Atria Finland has received research and development funding from Business Finland to implement the project.

During the review period, Atria achieved a bronze medal in the EcoVadis sustainability assessment, which acknowledges progress in its sustainability efforts and places Atria among the top 17% of the companies assessed. EcoVadis is a globally used system for assessing the sustainability (ESG) of companies.

Future outlook and guidance

In 2026, Atria Group's adjusted EBIT is expected to be higher than in the previous year (EUR 69.9 million).

Atria's good market position, strong brands and good customer relationships, as well as reliable industrial processes, create the conditions for the positive development of EBIT also in 2026.

Cost inflation caused by the crisis in the Middle East, the unstable European pork market, animal disease risks and low consumer confidence in Atria's domestic markets are risk factors that may affect the EBIT in the near future.

Disclosure

Atria Plc complies with the disclosure procedure in accordance with standard 5.2b of the Financial Supervisory Authority and publishes its half-year financial report for 1 January to 30 June 2026 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 half-year financial report

Atria Plc's CEO Kai Gyllström will present the company's half-year financial report in a webcast today, 22 July 2026 at 12:30 - 1:30 p.m. 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 recording of the press conference and the presentation material of the event will be available during the same day at www.atria.com/sijoittajat/taloustieto/osavuosikatsaus/.

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 half-year financial report is available on our website at www.atria.com.