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HKScan Corporation, inside information, 24 November 2021 at 8.00 a.m. EET

HKScan updating its outlook for 2021: comparable EBIT stable and at the 2020 level  

HKScan updates the Group's outlook for 2021. The company estimates that its comparable EBIT will be stable and at the 2020 level. 

The change in outlook is due to rapidly accelerating cost inflation in all of HKScan's home markets. In Denmark, the continuing avian flu situation affecting the whole industry has delayed the start of exports outside the EU longer than previously estimated with a clear negative impact on the profitability of HKScan's Danish business. In addition, the difficult Covid-19 situation in the Baltics has weakened the operational efficiency and commercial performance of HKScan's Baltic business. 

HKScan expects the good profit development in Finland and Sweden to continue for the rest of the year. 

In 2020, HKScan's comparable EBIT was 17.0 million euros. 

Updated outlook for 2021 
HKScan estimates that the Group's comparable EBIT in 2021 will be stable and at the 2020 level. 

Previous outlook for 2021
HKScan estimates that the Group's comparable EBIT in 2021 will improve compared to 2020. 

HKScan will publish its 2021 Financial Statements on 10 February 2022.

HKScan Corporation

Tero Hemmilä
CEO 

More information:
Tero Hemmilä, CEO, tel. +358 10 570 2012

HKScan is the leading Nordic meat and food company with over a hundred years’ experience in responsible meat production and processing of high-class raw materials.