Atria Oyj : Viron strategian eteneminen, Olle Horm

Atria Capital Markets Day 2023

23.11.2023

Atria Capital Markets Day 2023

Atria Estonia

EVP, GM, Olle Horm, Atria Estonia

November 23th, 2023

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Atria Denmark & Estonia 1 January - 30 September 2023

	Q3	Q3	Q1-Q3	Q1-Q3
EUR million	2023	2022	2023	2022	2022
Net sales	32.0	29.1	91.6	83.5	112.9
EBIT	1.5	0.7	1.6	2.2	1.2
EBIT, %	4.6 %	2.3 %	1.7 %	2.6 %	1.1 %

• In July-September Atria Denmark & Estonia's net sales increased and EBIT improved.
• Atria Estonia's net sales increased by more than 20%. The sales of cold cuts grew most, by almost 40%. Sales volumes to retailers also increased by almost 10%. Sales prices were higher, and cost levels were at the level of the comparison period, which strengthened Atria Estonia's EBIT.
• Atria Denmark's net sales declined due to lower sales volumes to retail customers. EBIT improved as a result of the efficiency measures launched in the spring.
• In January-September the increase in net sales resulted from higher sales prices in both Estonia and Denmark.
• Atria Estonia's EBIT was strengthened by the good development of sales to retail customers.
• Atria Denmark's EBIT was weighed down by weaker sales volumes and high raw material prices. In Denmark, the result was also weighed down by additional costs resulting from the efficiency programme.

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Atria Capital Markets Day 2023

23.11.2023

Macro Economics

(change %)	2022	2023E	2024F	2025F
GDP growth rate	-0,5	-2,0	2,0	3,0
Consumer prices	19,4	9,8	4,3	2,4
Private consumption (HICP)	2,0	-2,0	2,0	3,5
Unemployment rate	5,6	6,5	6,7	5,4
Gross monthly wage	11,6	11,2	7,8	7,4

Source: Swedbank Economic Outlook August 2023

• Consumer prices have increased by appr 30% during last 2 years
• State is planning several tax increase

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Atria strategy in Estonia 2025 (One-Pager)

ATRIA'S WINNING

ASPIRATION IN ESTONIA (EE)

Our Mission: We create inspiring food for every occasion with

strong brands and passion. Good food - better mood.

Our Vision: Winning Northern

European Food Company.

Maintain current presence in

Estonia.

1. 1. Run as a profitable standalone business with best

   in class financial

   performance:

2. EBIT target 6,6%
3. Return on equity 13%
4. Equity ratio 66%

1. Carbon neutral food chain in 2035

		ATRIA'S WINNING GAME ON
	ATRIA'S BUSINESS		THE ESTONIAN MARKET
PLAYGROUND IN ESTONIA
		Atria would like to become as
Atria is active in Estonia in	as preferred partner for the
	pig farming and meet		customer. The key in that
processing. We have our own:		challenge lies in:
1.	primary production which	1.	Innovative, fast and
	is the country's second-		successful product
	largest pork producer and		development meeting
2.	second-largest meat		consumers demand
	production with widely	2.	Economically wise above
	known local brand		market category
	Maks&Moorits with		management
	respective categories as	3.	Making Maks&Moorits as
1)	Red meat / Consumer		TOP I meet brand in
	Packed Meat (CPM)		Estonia
2)	Meal Sausages (MS)	4.	Above market
3)	Cold cuts and (CC)		personalized sales and
4)	Convenience Food (CF)		KAM with major retail
			chains

ATRIA'S STRATEGY

EXECUTION IN ESTONIA For successful strategy execution we focus on

(1) efficiency drivers as

1. Monitoring and improving efficiency
2. Modern technology
3. Cost awareness
4. Improvement in supply

chain and on

1. Atria Way of Work considering

1. Safety First!
2. Committed people
3. Performance culture.

Aiming to become leader in

sustainability we target CO2 emissions reduction by -25% by 2025 as well zero animal welfare violations and increase antibiotic-free production

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Atria Capital Markets Day 2023

23.11.2023

Marketshare development in Estonia by competitor

9 months

Total market -0,3% in volume and +13.9% in cash

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Atria Marketshare development in Estonia

Last 4 years

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Atria Capital Markets Day 2023

23.11.2023

Maks&Moorits highlights 2023

• Nielsen identified top three successful new products in the meat category for 2022: Kodupihv (overall ranking #2), Tooma smoked sausage, and Shashlik in kefir marinade.
• We continue to be the most sustainable meat brand in the Estonian market.
• Once again Kantar Emor survey showed that Maks&Moorits remains the most liked meat brand in Estonia, holding the second position in the overall ranking of food and beverage brands, just behind Kalev.
• For men, No. 1 brand Maks & Moorits!
• Maks&Moorits' likability score has been gradually increasing in recent years and maintains a more comfortable lead over the brands that follow it, compared to the previous year.

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www.atria.com

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