An oversupply of pork and tougher competition have decreased sales prices both in Finland and elsewhere in the EU. As a result, Atria Finland's earnings in the first quarter were not as expected.
Russia's import ban on EU pork meat and the weakening of the rouble have raised the price of meat raw material in Russia by an average of 30 per cent from the beginning of the year. Atria Russia has not been able to fully pass on the increased raw material costs to sales prices.
For these reasons, Atria lowers its full-year EBIT forecast.
The company estimates its full-year 2014 EBIT without non-recurring items to fall clearly short of the EUR 37.0 million EBIT the previous year. Net sales are expected to grow in 2014.
According to Atria's previous EBIT forecast for 2014, the Group's EBIT was estimated to be higher than EUR 37.0 million. Net sales were expected to grow in 2014.
Atria will publish its Q1 interim report on 6 May 2014 at 8.00 am.
For more information, please contact Juha Gröhn, CEO, Atria Plc, tel. +358 400 684 224.
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