7.5.2003 13:00

Atria Group's operating profit in the first quarter of 2003 was
EUR 3.8 million (EUR 3.1 million). The profit before extraordinary
items, was EUR 2.0 million (EUR 2.2 million). The turnover was EUR
173.8 million (EUR 151.4 million), earnings per share EUR 0.09(EUR
0.08) and shareholders' equity per share was EUR 11.98 (EUR

PROFIT AND LOSS ACCOUNT GROUP                           
(EUR Million)                    1-3/2003   1-3/2002  1-12/2002
TURNOVER                            173.8      151.4      707.0
NET OPERATING PROFIT                  3.8        3.1       25.6
PROFIT BEFORE                                                  
EXTRAORDINARY ITEMS                   2.0        2.2       20.4
PROFIT BEFORE TAXES                   2.0        2.2       20.4
PROFIT                                1.5        1.2       14.1
The taxes in the profit and loss account are equivalent tax on
for the period under review.                                   
BALANCE SHEET, GROUP                                           
(EUR Million)                                                  
ASSETS                          31.3.2003  31.3.2002  31.12.2002
FIXED ASSETS                                            
Intangible assets                    48.9       41.6       50.1
Tangible assets                     246.5      212.1      243.8
Financial assets                      5.3        5.6        5.0
CURRENT ASSETS                                                 
Inventories                          48.4       38.5       46.1
Receivables                          91.2       72.2       77.5
Cash in hand and at bank              6.0       14.8       16.5
TOTAL                               446.3      384.8      439.0
SHAREHOLDERS' EQUITY                                           
Share capital and                                              
other shareholders'equity           189.4      182.6      188.6
MINORITY INTEREST                     1.1        0.6        1.2
Long-term                           116.6       82.9      123.4
Short-term                          139.2      118.7      125.8
TOTAL                               446.3      384.8      439.0
KEY FIGURES (EUR)                                       
                                31.3.2003  31.3.2002  31.12.2002
Gross investments in                                    
fixed assets                          9.0        7.8       66.0
Gross investments                                              
% of turnover                         5.1        5.1        9.3
Personnel on average                 3645       3132       3300
Earnings per share                   0.09       0.08       0.89
Shareholders' equity per share      11.98      11.54      11.92
Equity ratio, %                      42.7       47.6       43.3
Interest-bearing debt               170.2      123.2      157.9
CONSOLIDATED CASH                                              
FLOW STATEMENT (EUR million)     1-3/2003   1-3/2002  1-12/2002
Cash flow from operations            -1.6       11.7       50.9
Financing items and taxes            -4.8       -6.5      -14.9
Cash flow from operating             -6.4        5.3       36.0
Investing activities                 -9.2       -7.2      -66.1
Cash flow from investing             -9.2       -7.2      -66.1
Net change in loans                   5.1        6.6       43.2
Dividends paid                          -          -       -6.8
Net cash from financing               5.1        6.6       36.4
Change in liquid funds              -10.5        4.7        6.3
CONSOLIDATED LIABILITIES                                
(EUR million)                                          
                                31.3.2003  31.3.2002  31.12.2002
DEBTS INVOLVING MORTGAGES OR                            
OTHER COLLATERAL AS SECURITY                            
Loans from financial                                    
institutions                        104.1       78.3       95.0
Pension loans                         4.9        8.2        5.4
Total                               109.0       86.5      100.4
MORTGAGES AND OTHER COLLATERAL                                  
GIVEN AS GENERAL SECURITY                                      
Mortgages on real property           69.8       62.3       64.4
Mortgages on company assets          45.8       22.4       25.6
Other collateral                     40.9       64.7       40.6
Total                               156.5      149.4      130.6
MORGAGES AND OTHER COLLATERAL                                    
ON BEHALF OF GROUP COMPANIES                                   
Guarantees                           34.2          -       21.8
CONTINGENT LIABILITIES NOT                                     
INCLUDED IN THE BALANCE SHEET                                  
Limits not used                      76.7       68.7       82.3
Guarantees                            0.9        0.9        1.0
Leasing liabilities                                            
Payable in the next                                            
financial year                        0.9        0.6        1.0
Payable later                         1.4        1.2        1.2
Total                                 2.3        1.8        2.2
The figures are not audited.                            


The Atria Group's turnover grew by 14.8 per cent in the first
quarter, rising to EUR 173.8 million. Growth was primarily due to
the expansion of our business operations in Sweden when the
Samfood business functions acquired last summer were integrated
into those of Lithells AB. In fact, business operations in Sweden
will generate over 40 per cent of the Group's turnover during the
present year.

The profit for the first quarter was EUR 2.0 million (EUR 2.2
million). Traditionally, the Group racks up the bulk of its
earnings after the first quarter. During the present year, the
profit was significantly weakened by the fact that the price level
of pork was low due to strong overproduction in all of Europe. The
volume of pork processed by Atria grew by 11.6 per cent. The
strong increase in production and the weak markets were to blame
for exceptionally weak earnings performance in the entire pork
production chain. The beef production chain is burdened by
expenses caused by the incidence of BSE, although these expenses
have now declined. The earnings trend was also weakened by the non-
recurring adaptation measures to integrate Samfood AB into
Lithells AB's other functions. This effort had been carried out
for the most part by the end of March and the earnings trend has
swung back buoyantly into a positive direction.

Favourable trends in retail sales

The trend in Atria's retail sales remained unchanged in spite of
the tightening of competition within the retail sector and the
field itself. Earnings developed favourably with the exception of
meat sales. As usual, the strongest area comprised meat products.

The extension to the poultry processing plant was partly put into
production use in March. The pricetag of the plant was EUR 20
million. After its full inauguration in the autumn, substantial
rationalisation benefits will be achieved and it will enable the
company to provide an even more diverse range of products for the
growing poultry market. Retail sales developed favourably in the
first months of the year, although chicken consumption is not
increasing in the same manner as before.

Liha ja Säilyke expands in Forssa

The salads and cold cuts sold under Liha ja Säilyke Oy's Forssan
brand have performed well on the market. In the summer, the
company will start to expand its production facilities, thereby
ensuring the hitch-free development of production. Liha ja Säilyke
Oy reached its sales and profitability targets in the first months
of the year.

Lithells AB grows

Following the acquisition of Samfood AB, Lithells AB's turnover is
expected to rise from last year's figure of EUR 240 million to EUR
350 million. It is also expected that the Group will improve its
earnings significantly. At present, the Group comprises Atria
Lithells AB and Samfood AB, which make meat products and
convenience products, Atria Concept AB, which is in the fast-food
business, and the local wholesale company Svensk Snabbmat för
Storkök AB. In the first part of the year, the manufacturing
companies transferred production operations: Atria Lithells AB's
plant close to Örebro will specialise in meat products, Samfood
AB's plant in Malmö will mainly focus on convenience foods, cold
cuts and bacon, and the plant in Stockholm on retail-packed meat.
In spite of the merger and transfer of functions, sales have grown
and major rationalisation savings have been achieved. Atria
Concept AB is engaged in the fast-food business with its Sibylla,
Fyrkanten and Sammy's chains, which hold a share of about 65 per
cent of the Swedish fast food stand market. The two latter chains
were acquired as part of Samfood AB. Svensk Snabbmat för Storkök
AB has ten local wholesale offices in various parts of Sweden.
Both its turnover and earnings have more than doubled during the
past five years.

Changes in the Group structure

At the turn of the year, Atria realigned its corporate structure,
establishing the parent company Atria Oyj as a holding company for
its subsidiaries. The largest subsidiaries are Atria Oy and Liha
ja Säilyke Oy, which operate in Finland, and Lithells AB, which is
in business in Sweden. It is intended that Atria Oyj will be
renamed Atria Group plc at the Annual General Meeting on 7 May
2003. In order to increase the efficiency of Finnish business
functions, it is intended that the pig and cattle slaughterhouses
and meat-cutting operations in various localities will
incorporated as listed companies; maintenance operations will also
be incorporated. The entire organisation of Atria Oy will also be
changed. After the change in business procedures, the number of
salaried employees will be decreased by about 40.

Outlook for the future

It is exceptionally difficult to predict full-year earnings at
this time. The greatest uncertainty is the trend in the meat
market, especially the market situation of pork. Strong
overproduction in Europe and the weak exchange rate development of
the dollar and yen have significantly weakened profitability. For
Atria, the profitability of the meat market has a strong effect on
the entire Group's profitability.

The trend in the profitability of Atria's meat product and poultry
business is expected to remain favourable. Likewise, the strong
improvement in the earnings of Lithells AB and the profitability
of Liha ja Säilyke Oy is expected to support the Group's earnings


Seppo Paatelainen
Managing Director

Helsinki Exchanges
Principal media

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