Olvi plc        Stock exchange release 9 February 2024 at 3:30 pm

Other information disclosed according to the rules of the Exchange

Correction to Olvi plc's Financial statements bulletin issued on February 9, 2024 at 9 am

Olvi plc's Financial statements bulletin contained an incorrect translation concerning the segment-specific business development during October-December 2023 of Belarusian segment and its operating result in the local currency. The corrected statement is:

The Belarusian exchange rate continued to weaken

Net sales in the Belarusian segment decreased by 20.9% and sales volume by 2.1%. The sales volume decreased because sales campaigns were smaller than in the comparison period. Total demand in the market continued to grow in all product categories. The weaker exchange rate had a significant impact on euro-denominated net sales, as net sales in the local currency increased by 6.7%. The reported operating result increased by 132.1% and was EUR 3.9 million. Excluding additional depreciation* related to period when classified as discontinued operations/assets held for sale in the comparison period, the operating result for the fourth quarter of 2022 would have been EUR 5.0 million. Compared with this, the operating result decreased by 22.0%. This is in line with the fact that the exchange rate has decreased by 35% from the comparison period. Operating result in the local currency increased by 219.7%. When additional depreciation in the comparison information is taken into account, the operating result grew by 5.1%.

Olvi plc

Patrik Lundell

CEO

More information:

Patrik Lundell, CEO, Olvi plc, tel. +358 29 000 1050

Distribution:

Nasdaq Helsinki Ltd

Main media

www.olvi.fi/en