ATRIA PLC
INTERIM REPORT
Q3/2026
1 January - 30 September 2026
1
ATRIA CONTINUED TO GROW PROFITABLY IN AN UNCERTAIN OPERATING ENVIRONMENT
Atria has continued the
Atria Group's profitable growth continued in January-September
The Group's net sales was 4.0% higher, supported by positive sales
development both in the retail trade and Foodservice customers.
The Group's EBIT remained stable,
with an EBIT margin of 5.3%
Atria Finland's EBIT was EUR
2.4 million lower, due to the ASF-related pork export ban. ASF is estimated to
reduce Atria Finland's EBIT for 2026 by approx. EUR 4-5 million, of which
approx. EUR 2 million was realised during the review period.
Atria Sweden's EBIT improved by EUR
2.4 million. Effective sales and marketing measures, along with a favourable sales mix across various distribution channels and product categories, bolstered EBIT.
Atria Denmark & Estonia's EBIT was EUR 0.3 million higher.
determined implementation of its
TOGETHER 2030 strategy.
Atria continued the implementation of its TOGETHER strategy by
strengthening the convenience food business in Sweden and Finland.
Energy projects that support climate targets:
Nurmon Bioenergia Oy's biogas plant was commissioned
Nurmon Bioenergia invests to start the capture of bio-based carbon dioxide
Construction of a 200 MWh energy storage project for the convenience food factory
Cross-border collaboration continues:
Gooh! pancakes from Finland to Sweden
Poultry products from Finland to Sweden
Finnish antibiotic-free chicken products under the Maks & Moorits brand in Estonia
Future outlook
In 2026, Atria Group's adjusted
EBIT is expected to be higher than in the previous year (EUR 69.9
million).
Atria's good market position, strong brands and good customer
relationships, as well as reliable industrial processes, create the conditions for the positive
development of EBIT also in 2026.
The ASF outbreak in Finland and other animal disease risks, the
unstable European pork and beef market, cost inflation due to the Middle East crisis, and low
consumer confidence in Atria's
domestic markets are risk factors
that may affect EBIT for the rest of the year.
2
AFTER THE REVIEW PERIOD
Atria has completed the change negotiations concerning the Jyväskylä cattle slaughterhouse.
Atria is centralising its cattle slaughtering operations at the Kauhajoki plant and discontinuing cattle slaughtering in Jyväskylä. The decision to transfer the cutting and packing of beef to Kauhajoki was made in autumn 2025.
Centralising cattle slaughtering operations is estimated to bring Atria annual savings of approximately EUR 2 million. The decision is based on a sharper-than-expected decline in beef procurement volumes and increased market competition. By centralising beef processing in Kauhajoki, Atria improves its efficiency and strengthens the competitiveness of its beef business.
3
Q3/2026 RESULT DEVELOPMENT IN FIGURES
475.2 +4.0%
Net sales, Net sales development
EUR million
25.3
EBIT,
EUR million
(EUR 25.4 million)
5.3%
EBIT % (5.6%)
Earnings per share, EUR
(EUR 0.61)
0.67
4
(EUR 37.2 million)
(31 Dec 2025: 45.7%)
43.9%
Equity ratio
11.7%
Adjusted return of equity %,
rolling 12 m
(10.9%)
-10.6
Free cash flow,
EUR million
1.49
Earnings per share, EUR
(EUR 1.30)
EBIT %
(4.2%)
4.3%
EBIT, EUR million
(EUR 55.9 million)
59.9
Net sales development
Net sales,
EUR million
1,406.6 +5.2%
Q1-Q3/2026 RESULT DEVELOPMENT IN FIGURES
5
ATRIA GROUP'S NET SALES Q3/2026
EUR million
6
ATRIA GROUP'S NET SALES Q1-Q3/2026
EUR million
7
ATRIA GROUP'S EBIT Q3/2026
EUR million
8
ATRIA GROUP'S EBIT Q1-Q3/2026
EUR million
9
MARKET POSITION IN THE BUSINESS AREAS
The development of Atria's product categories in the retail market by value in January-August:
Finland +4.7%
Sweden +2.7%
Estonia +3.8%
Denmark +0.5%
Atria's own brand producer share by value in the retail market in its product categories:
Finland 25.7%
Sweden 17.6%
Estonia 21.5%
Denmark 12.0%
10
ATRIA FINLAND
Q3/2026 Key Figures
341.8
Net sales, EUR million
19.4
EBIT,
EUR million
5.7%
EBIT % (6.6%)
+3.4%
Net sales development
Q1-Q3/2026 Key Figures
1,024.0 +5.8%
-2.4
EBIT development, EUR million
Net sales,
EUR million
48.0
EBIT,
EUR million
4.7%
EBIT % (5.0%)
Net sales development
-0.6
EBIT development, EUR million
11
ATRIA FINLAND
In July-September, net sales increased by 3.4%.
Growth was supported by positive sales development both in the retail trade and Foodservice customers as well as strong sales during the barbecue season.
Export sales were clearly lower than in the previous year, due to a ban on pork exports caused by African swine fever.
EBIT fell by EUR 2.4 million from the comparison period. EBIT was weakened particularly by the ban on pork exports and its effects, imposed due to ASF. The negative impact on the 2026 EBIT is estimated to be approximately EUR 4-5 million, of which about EUR 2 million was realised during the review period.
In January-September, net sales grew by 5.8%.
Growth was supported by good sales development in all sales channels, except for exports.
Higher prices for beef products compared with the comparison period boosted net sales.
EBIT was EUR 0.6 million lower than in the previous year.
The result was affected by the ban on pork exports due to African swine fever.
Cost pressures remained high for both our own operations and purchased services.
12
ASF IN FINLAND
African swine fever (ASF) has been found in wild boar in a
restricted area in south-eastern Finland.
ASF is a serious viral disease of pigs and other suids. The disease is not transmissible to humans.
To prevent the spread of the disease, the Finnish Food Authority has established an infected zone, a core area within it, and an additional restricted zone bordering the infected zone.
The virus has not been detected on pig production farms in Finland, and biosecurity measures are being used to keep the disease out of the farms.
Atria has no contract production farms within or near these zones.
Map of the infected zone (yellow), including the core area located within it (red),
and the additional restricted zone (green)
13
ATRIA FINLAND
Based on information from Atria's main pork export countries, Atria has assessed the impact of ASF findings on pork exports.
The annual direct profit impact for Atria Finland from lost and redirected export sales is estimated to be approximately EUR -7 million. Estimates are based on the assumptions that pork exports to countries such as China and Japan have ended, while pork sales to South Korea continue.
Atria actively seeks to find new export markets and customers for pork. In addition, the company will take measures to reduce the negative impact of declining pork sales to Asia.
It is very important that the relevant authorities and parties take all possible measures to prevent the spread of this disease and to ensure that pork from Finland can continue to be exported outside the EU in the future. If ASF spreads to a wider area or affects pig production farms, its impact on Atria may also change.
14
ATRIA FINLAND
In the summer of 2026, Atria launched an investment in a 200 MWh high-temperature energy storage at the Nurmo production plant as part of the energy solutions for the new convenience food factory under construction.
Atria's new convenience food factory and the Kauhajoki investments progressed as planned during the review period. The new convenience food factory will be completed by the end of 2028.
Havainnekuva korkealämpöenergiavarastosta
15
ATRIA SWEDEN
Q3/2026 Key Figures
Q1-Q3/2026 Key Figures
107.3
Net sales, EUR million
6.1
EBIT,
EUR million
+8.3%
Net sales development
+2.4
EBIT development, EUR million
306.5
Net sales, EUR million
10.6
EBIT,
EUR million
+4.9%
Net sales development
+4.0
EBIT development, EUR million
EBIT %
(3.7%)
5.6%
EBIT %
(2.3%)
3.5%
16
ATRIA SWEDEN
In July-September, net sales grew by 8.3% from the comparison period. The growth in net sales was driven by good sales development across all sales channels.
EBIT increased by EUR 2.4 million. Effective sales and marketing measures, along with a favourable sales mix, bolstered EBIT.
Cost pressures stemming from rising transportation and production costs caused by growing tensions in the international operating environment continued to affect profitability.
In January-September, net sales grew by 4.9% in euros and by 3.0% in the local currency.
The avian influenza outbreak in Sweden, which weakened the availability of poultry meat earlier this year, has now subsided and no longer affects the availability of poultry meat.
EBIT was strengthened by effective sales and marketing measures, as well as a favourable sales structure across the various distribution channels and product categories.
17
ATRIA SWEDEN
In the third quarter, Atria launched several new Gooh! convenience food products for retail. The new products supported the brand's strong market position.
The investment of approximately EUR 23 million in the production of meat products at the Sköllersta plant, launched in December 2025, is proceeding as planned in schedule.
18
6.4%
EBIT %
(4.9%)
5.2%
EBIT %
(4.3%)
+1.2
EBIT development, EUR million
EUR million
5.9
EBIT,
+0.3
EBIT development, EUR million
EUR million
1.7
EBIT,
Net sales development
-2.5%
Net sales,
EUR million
91.7
Net sales development
-3.2%
Net sales,
EUR million
31.7
Q1-Q3/2026 Key Figures
Q3/2026 Key Figures
ATRIA DENMARK & ESTONIA
19
ATRIA DENMARK & ESTONIA
In July-September, Atria Denmark & Estonia's net sales were 3.2% lower.
EBIT of Atria Denmark & Estonia increased by EUR 0.3 million.
Atria Estonia's net sales and EBIT increased compared with the corresponding period last year.
The increase in Atria Estonia's net sales resulted from increased sales to retail and industrial customers.
The EBIT increase in Estonia was also supported by growth in sales and lower raw material prices for pork.
Atria Denmark's net sales and EBIT were lower than in the comparison period.
The volume of the cold cuts retail market in Denmark declined slightly in the third quarter, and Atria's sales volume declined more than the market.
In January-September, the net sales of Atria Denmark & Estonia were lower than in
the corresponding period of the previous year due to a decrease in Atria Denmark's net sales. EBIT increased by EUR 1.2 million.
Atria Estonia's net sales and EBIT increased compared with the corresponding period last year.
Net sales growth was driven by strong sales to the retail trade.
The growth of Atria Estonia's EBIT was supported by higher sales, lower raw material prices for pork, and higher animal welfare-related subsidies compared with
the comparison period.
Atria Denmark's sales to retail and Foodservice customers were lower than in the previous year.
20
ATRIA DENMARK & ESTONIA
During the review period, the Maks & Moorits brand expanded into a new product category with a launch of antibiotic-free fresh chicken products made by Atria Finland.
Atria Denmark's development efforts focused in particular on expanding the Foodservice product range and cross-border product collaborations, preparing new export products, and identifying new export market opportunities.
21
SHORT-TERM BUSINESS RISKS
African swine fever was detected in wild boar in Finland in Vironlahti at the end of July 2026. This has restricted Atria's pork sales abroad. Exports to China and Japan have stopped, but exports to South Korea continue as normal. Atria actively seeks to find new export markets and customers for pork.
During the review period, uncertainty has significantly increased due to the conflict in the Middle East that started in February 2026. The conflict is particularly reflected in the energy markets and oil price development, which have a direct impact on Atria's transport costs throughout the food supply chain. In addition, there are cost pressures on packaging materials as well as primary production, including the prices of feed components, fertilisers and fuels.
In Europe, the market price of pork is expected to remain volatile. The instability is caused by export bans resulting from African swine fever, a decline in pork exports due to Chinese import tariffs, and lower demand in Europe.
In recent years, the beef market has been unbalanced in Europe. In the first half of 2026, beef imports from South America increased, while beef exports outside the EU decreased. In addition, the increased consumer price of beef products reduced demand. For these reasons, the price of beef has fallen since the beginning of 2026. In September, the European Union announced a ban on Brazilian beef imports to Europe, adding to market instability.
The fight against cybercrime and information system disruptions requires continuous development and a proactive approach.
22
FINANCIAL DEVELOPMENT
CEO Kai Gyllström
"We can be satisfied with the strong growth and solid year-to-date result, especially considering the immediate impact of the African swine fever outbreak detected in Finland at the end of July on Atria Finland's exports, as well as the increased cost pressures caused by the conflict in the Middle East."
23
ATRIA GROUP NET SALES CUMULATIVE
EUR million
24
ATRIA GROUP ADJUSTED EBIT CUMULATIVE
EUR million
25
ATRIA GROUP INCOME STATEMENT | ||||||
Q3 | Q3 | Q1-Q3 | Q1-Q3 | |||
EUR million | 2026 | 2025 | 2026 | 2025 | 2025 | |
NET SALES | 475.2 | 457.0 | 1,406.6 | 1,337.2 | 1,813.7 | |
Costs of goods sold | -418.6 | -403.6 | -1,247.9 | -1,189.3 | -1,615.8 | |
GROSS PROFIT | 56.6 | 53.4 | 158.8 | 148.0 | 198.0 | |
% of Net sales | 11.9 % | 11.7 % | 11.3 % | 11.1 % | 10.9 % | |
Other income | 0.7 | 2.0 | 3.6 | 3.6 | 4.5 | |
Other expenses | -32.0 | -29.9 | -102.5 | -95.7 | -138.4 | |
EBIT | 25.3 | 25.4 | 59.9 | 55.9 | 64.0 | |
% of Net sales | 5.3 % | 5.6 % | 4.3 % | 4.2 % | 3.5 % | |
Finance income and costs | -2.5 | -2.4 | -6.7 | -8.3 | -10.7 | |
Income from joint ventures and associates | 1.0 | 0.3 | 2.0 | 0.9 | 0.2 | |
PROFIT BEFORE TAXES | 23.8 | 23.4 | 55.2 | 48.6 | 53.6 | |
Income taxes | -3.7 | -5.3 | -10.6 | -9.9 | -10.0 | |
PROFIT FOR THE PERIOD | 20.1 | 18.0 | 44.6 | 38.7 | 43.6 | |
26 | ||||||
ATRIA GROUP KEY INDICATORS | ||||||
Q3 | Q3 | Q1-Q3 | Q1-Q3 | |||
EUR million | 2026 | 2025 | 2026 | 2025 | 2025 | |
Net sales | 475.2 | 457.0 | 1,406.6 | 1,337.2 | 1,813.7 | |
Adjusted EBIT | 25.3 | 25.4 | 59.9 | 55.9 | 69.9 | |
Adjusted EBIT, % | 5.3 % | 5.6 % | 4.3 % | 4.2 % | 3.9 % | |
EBIT | 25.3 | 25.4 | 59.9 | 55.9 | 64.0 | |
EBIT, % | 5.3 % | 5.6 % | 4.3 % | 4.2 % | 3.5 % | |
EPS, EUR | 0.67 | 0.61 | 1.49 | 1.30 | 1.44 | |
Adjusted EPS, EUR | 0.67 | 0.61 | 1.49 | 1.30 | 1.61 | |
Shareholders´ equity per share EUR | 16.18 | 15.09 | 15.32 | |||
Adjusted return on equity (rolling 12m), % | 11.7 % | 10.9 % | 11.0 % | |||
Adjusted return on investment (rolling 12m), % | 10.7 % | 10.5 % | 10.5 % | |||
27 | ||||||
FINANCIAL POSITION AND EQUITY RATIO | ||||
Q1-Q3 | Q1-Q3 | |||
EUR million | 2026 | 2025 | 2025 | |
Cash flow from operating activities | 57.6 | 67.3 | 120.0 | |
Cash flow from investing activities | -68.2 | -30.1 | -50.2 | |
Free cash flow | -10.6 | 37.2 | 69.8 | |
Gross investments | 65.9 | 32.5 | 54.2 | |
Net debt | 286.5 | 251.2 | 218.7 | |
Net gearing, % | 59.6 % | 56.1 % | 48.1 % | |
Finance cost, net | 6.7 | 8.3 | 10.7 | |
Net debt/adjusted EBITDA | 2.03 | 1.89 | 1.64 | |
Equity ratio, % | 43.9 % | 44.8 % | 45.7 % | |
Average interest rate of the loan portfolio, % | 3.31% | 3.32% | 3.36% | |
28 | ||||
ATRIA CONTINUED TO GROW PROFITABLY IN AN UNCERTAIN OPERATING ENVIRONMENT
Atria has continued the
Atria Group's profitable growth continued in January-September
The Group's net sales was 4.0% higher, supported by positive sales
development both in the retail trade and Foodservice customers.
The Group's EBIT remained stable,
with an EBIT margin of 5.3%
Atria Finland's EBIT was EUR
2.4 million lower, due to the ASF-related pork export ban. ASF is estimated to
reduce Atria Finland's EBIT for 2026 by approx. EUR 4-5 million, of which
approx. EUR 2 million was realised during the review period.
Atria Sweden's EBIT improved by EUR
2.4 million. Effective sales and marketing measures, along with a favourable sales mix across various distribution channels and product categories, bolstered EBIT.
Atria Denmark & Estonia's EBIT was EUR 0.3 million higher.
determined implementation of its
TOGETHER 2030 strategy.
Atria continued the implementation of its TOGETHER strategy by
strengthening the convenience food business in Sweden and Finland.
Energy projects that support climate targets:
Nurmon Bioenergia Oy's biogas plant was commissioned
Nurmon Bioenergia invests to start the capture of bio-based carbon dioxide
Construction of a 200 MWh energy storage project for the convenience food factory
Cross-border collaboration continues:
Gooh! pancakes from Finland to Sweden
Poultry products from Finland to Sweden
Finnish antibiotic-free chicken products under the Maks & Moorits brand in Estonia
Future outlook
In 2026, Atria Group's adjusted
EBIT is expected to be higher than in the previous year (EUR 69.9
million).
Atria's good market position, strong brands and good customer
relationships, as well as reliable industrial processes, create the conditions for the positive
development of EBIT also in 2026.
The ASF outbreak in Finland and other animal disease risks, the
unstable European pork and beef market, cost inflation due to the Middle East crisis, and low
consumer confidence in Atria's
domestic markets are risk factors
that may affect EBIT for the rest of the year.
29
THANK YOU!
Financial Statement Release 2026 on 12 February 2027
30