On 10 July 2019, Apetit announced that it has agreed to sell its fresh cut products business, part of the Food Solutions segment to the Swedish company Greenfood AB. The transaction is expected to be completed in the second half of 2019. To be completed, the transaction requires the approval of the competition authorities.

As a result of the agreement, Apetit reports the sold business operations as a discontinued operation. In addition to Fresh Cut Foods, discontinued operations include the Seafood segment. The Seafood segment is included for 2018, the comparison year, and its impact is limited to financial items.

The updated comparison data on continuing and discontinued operations for 2018 and the first quarter of 2019 are presented in the tables below. Updated comparison data by segment are presented for both half-years of 2018. The data are unaudited.

NET SALES
EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019
Continuing 57.3 72.1 77.8 71.2 278.3 71.1
operations
Intra-group -3.6 -5.4 -7.0 -2.5 -18.4 -0.1
net sales
Total 53.7 66.7 70.7 68.7 259.9 71.0
Discontinued 6.0 6.1 5.8 5.4 23.2 5.4
operations
Group Total 59.7 72.8 76.6 74.0 283.1 76.4

OPERATIONAL
EBITDA
EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019
Continuing 0.9 1.1 2.0 1.6 5.6 2.0
operations
Discontinued -0.3 -0.2 0.0 -0.3 -0.8 -0.2
operations
Group Total 0.6 0.9 2.0 1.3 4.8 1.8

OPERATIONAL
EBIT
EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019
Continuing -0.1 0.1 1.1 0.6 1.6 0.8
operations
Discontinued -0.7 -0.7 -0.5 -0.8 -2.6 -0.5
operations
Group Total -0.8 -0.6 0.6 -0.2 -1.0 0.3

OPERATING
PROFIT
EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019
Continuing -0.7 -2.0 2.0 1.2 0.5 0.0
operations
Discontinued -0.7 -0.7 -0.5 -5.5 -7.4 -0.5
operations
Group Total -1.4 -2.7 1.5 -4.3 -6.9 -0.6

INVESTMENTS
EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019
Continuing 0.7 0.9 0.7 3.8 6.1 2.4
operations
Discontinued 0.1 0.2 0.1 0.2 0.6 0.1
operations
Group Total 0.8 1.1 0.8 4.1 6.7 2.5

DEPRECIATIONS
AND
IMPAIRMENTS
EUR million Q1/2018 Q2/2018 Q3/2018 Q4/2018 2018 Q1/2019
Continuing 1.0 1.0 1.0 1.0 4.0 1.2
operations
Discontinued 0.5 0.5 0.5 5.2 6.5 0.3
operations
Group Total 1.4 1.5 1.5 6.2 10.6 1.6

UPDATED
SEGMENT
INFORMATION

NET SALES
EUR million H1/2018 H2/2018 2018

Continuing
operations
Food Solutions 37.9 36.3 74.2
Oilseed 33.8 33.0 66.7
Products
Grain Trade 57.8 79.6 137.4
Intra-group -9.0 -9.5 -18.4
net sales
Total 120.5 139.4 259.9
Discontinued 12.0 11.2 23.2
operations
Group Total 132.5 150.6 283.1

OPERATIONAL
EBIT
EUR million H1/2018 H2/2018 2018

Continuing
operations
Food Solutions 0.0 2.4 2.3
Oilseed 1.0 1.2 2.2
Products
Grain Trade -0.9 -2.0 -2.9
Total 0.0 1.6 1.6
Discontinued -1.4 -1.2 -2.6
operations
Group Total -1.4 0.4 -1.0

OPERATING
PROFIT
EUR million H1/2018 H2/2018 2018

Continuing
operations
Food Solutions -1.4 3.9 2.5
Oilseed 1.0 1.3 2.2
Products
Grain Trade -2.2 -2.0 -4.2
Total -2.7 3.2 0.5
Discontinued -1.4 -6.0 -7.4
operations
Group Total -4.1 -2.8 -6.9

INVESTMENTS
EUR million H1/2018 H2/2018 2018

Continuing
operations
Food Solutions 1.2 3.8 5.0
Oilseed 0.4 0.6 1.0
Products
Grain Trade 0.1 0.1 0.1
Total 1.6 4.5 6.1
Discontinued 0.2 0.4 0.6
operations
Group Total 1.8 4.9 6.7

DEPRECIATIONS
AND
IMPAIRMENTS
EUR million H1/2018 H2/2018 2018

Continuing
operations
Food Solutions 1.4 1.4 2.8
Oilseed 0.4 0.4 0.9
Products
Grain Trade 0.2 0.2 0.4
Total 2.0 2.0 4.0
Discontinued 0.9 5.6 6.5
operations
Group Total 2.9 7.7 10.6

PERSONNEL
Average FTE H1/2018 H2/2018 2018

Continuing
operations
Food Solutions 337 348 348
Oilseed 47 47 47
Products
Grain Trade 62 62 62
Total 446 457 457
Discontinued 117 107 107
operations
Group Total 563 564 564

Apetit Plc

For further information, please contact:

Tero Heikkinen, CFO, tel. +358 10 402 2310

Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. We create well-being with vegetables by offering healthy and tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and rapeseed expellers for feeding stuff, and trade grain on the international markets. Apetit seeks to lead the way in vegetable-based food solutions. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2018, the company's net sales were EUR 283 million. Read more at apetit.fi.