Atria Plc, Financial Statement Release, 12 February 2026, 8.00 am
Financial Statement Release of Atria Plc, 1 January-31 December 2025
Atria had another strong year - net sales and adjusted EBIT grew
October-December 2025
- Consolidated net sales increased to EUR 476.5 million (EUR 445.3 million). Strong retail trade development in Finland and Sweden supported net sales growth. The Swedish Foodservice business also strengthened significantly. Atria Denmark & Estonia's net sales were weakened by problems with the availability of meat raw material in Estonia caused by African swine fever.
- The consolidated adjusted EBIT was EUR 14.0 million (EUR 13.2 million), or 2.9% (3.0%) of net sales. The development of Atria Finland's adjusted EBIT remained strong, being EUR 0.7?million higher than in the corresponding period of the previous year. An increase of EUR 1.1 million in Atria Sweden's EBIT contributed to the Group's improved profit. The effects of African swine fever in Estonia weighed on the result of Atria Denmark & Estonia.
- During the review period, Atria disposed the Kuopio plant site and started site restoration. As a result, a non-recurring expense of EUR 5.9 million, mainly with cash effect, was recorded in the last quarter of 2025. Leaving the plant site will bring Atria annual savings of approximately?EUR 0.5 million.
- In December, Atria launched an investment of approximately EUR 23 million in the production of meat products at its plant in Sköllersta, Sweden. The investment includes a new continuously operating production line, as well as an expansion and upgrade of the production site, in Sköllersta.
- In October, Atria launched an investment of approximately EUR 16 million to modernise the Kauhajoki production plant. The investment includes the demolition of old buildings and the construction of new facilities.
- The Board of Directors of Atria Plc decided on new share-based incentive schemes for the Group's key employees and on a new earning period for the transitional share-based incentive scheme.
- The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.75 (EUR 0.69) per share be distributed for the 2025 financial period.
January-December 2025
- Consolidated net sales totalled EUR 1,813.7 million (EUR 1,755.4 million). Net sales grew by EUR 58.4 million from the comparison period, driven by the continued strong sales performance of Atria Sweden and the robust growth of Atria Finland in the second half of 2025. Atria Denmark & Estonia had lower net sales than in the previous year.
- The consolidated adjusted EBIT was EUR 69.9 million (EUR 65.4 million), or 3.9% (3.7%) of net sales. Atria Sweden's strong performance was a key driver of improved performance. Atria Finland's adjusted EBIT also increased from the previous year. Atria Denmark & Estonia's EBIT was EUR 0.3 million lower than in the previous year.
- African swine fever was detected at two of Atria's pig farms in Estonia, which weighed on Atria Estonia's net sales and EBIT.
- The Finnish Food Workers' Union's strike in April and the related overtime and shift change bans had a negative impact on net sales and EBIT in January-December.
- The start of chicken meat exports to China strengthened Atria Finland's EBIT.
- During the reporting period, the Group's free cash flow was EUR 69.8 million (EUR 41.6 million). Cash flow from investment activities was EUR 50.2 million (EUR 50.8 million).
- The adjusted return on equity (rolling 12 months) was 11.0% (10.1%).
- In April, Atria Finland launched an investment of EUR 7 million in a new pancake production line and the technical modernisation of the production department.
- In July, Atria Finland announced an investment project of EUR 82.4?million to modernise its convenience food production and related energy solutions. The project includes the renovation of the existing production plant and the replacement of the production process and other technical systems with the most energy-efficient solutions. The energy solutions included in the investment will result in total annual savings of more than EUR 5 million. Business Finland has granted EUR 24.7 million in clean transition investment support to the project. Construction work began in November.
- Atria published its new TOGETHER 2030 strategy for 2025-2030. The strategy focuses on ensuring the competitiveness of core operations, allocating investments and resources to rapidly growing product categories, strengthening cooperation between business areas to leverage economies of scale, and responding to future needs.
| Group key figures | ||||
| Q4 | Q4 | Q1-Q4 | Q1-Q4 | |
| EUR million | 2025 | 2024 | 2025 | 2024 |
| Net sales | ||||
| Atria Finland | 351.3 | 330.9 | 1,319.6 | 1,295.6 |
| Atria Sweden | 100.6 | 89.3 | 392.7 | 360.2 |
| Atria Denmark & Estonia | 30.7 | 30.7 | 124.8 | 125.9 |
| Eliminations | -6.1 | -5.6 | -23.3 | -26.3 |
| Net sales, total | 476.5 | 445.3 | 1,813.7 | 1,755.4 |
| EBIT before items | ||||
| affecting comparability | ||||
| Atria Finland | 13.6 | 12.9 | 62.2 | 60.4 |
| Atria Sweden | 1.7 | 0.5 | 8.3 | 4.5 |
| Atria Denmark & Estonia | 0.3 | 1.2 | 4.9 | 5.3 |
| Unallocated | -1.6 | -1.3 | -5.5 | -4.8 |
| Adjusted EBIT | 14.0 | 13.2 | 69.9 | 65.4 |
| Adjusted EBIT, % | 2.9 % | 3.0 % | 3.9 % | 3.7 % |
| Items affecting | ||||
| comparability of EBIT: | ||||
| Atria Finland | ||||
| Disposal and restoration of | ||||
| the Kuopio factory area | -5.9 | -5.9 | ||
| Poultry business reorganization | 1.0 | |||
| EBIT | 8.1 | 13.2 | 64.0 | 66.4 |
| EBIT, % | 1.7 % | 3.0 % | 3.5 % | 3.8 % |
| Profit before taxes | 5.1 | 10.4 | 53.6 | 52.1 |
| Earnings per share, EUR | 0.14 | 0.27 | 1.44 | 1.41 |
| Adjusted earnings per share, EUR | 0.31 | 0.27 | 1.61 | 1.38 |
CEO, Kai Gyllström
"The year 2025 was once again a strong for Atria and successful in many ways. Both net sales and adjusted EBIT were at the highest level in our Group's history, reflecting our organisation's great performance and the effectiveness of our strategic choices. We can be very satisfied with our performance in 2025.
We published our new TOGETHER 2030 strategy and started implementing it in the autumn. The strategy focuses on ensuring the competitiveness of core operations, allocating investments and resources to rapidly growing product categories, enhancing cooperation between business areas to leverage economies of scale, and responding to future needs. The strategy was very well received by the organisation. We communicated the strategy with a high profile both within the organisation and with our stakeholders and started the implementation with determination immediately after publication.
In October-December, the Group's net sales increased to EUR 476.5?million, and sales performance was strong. Sales in Finland and Sweden developed positively in the retail trade and, particularly in Sweden, also in the Foodservice sector. The outbreaks of African swine fever at two of Atria's pig farms in Estonia in the summer weighed on the growth and profit development of Atria Denmark & Estonia. The Group's adjusted EBIT for the last quarter slightly exceeded the level of the corresponding period of the previous year.
The full year's net sales were EUR 1,813.7 million, up EUR 58.4 million from the previous year. The Group's full-year adjusted EBIT improved to EUR 69.9 million.
Atria Finland's net sales returned to growth in the third and fourth quarters after a challenging start to the year, and the adjusted EBIT for the full year increased to over?EUR 62 million. We have been able to significantly improve the efficiency of our poultry production thanks to the new plant and the centralisation of production. The strong sales development towards the end of the year and the launch of chicken exports to China were also key factors behind the improved EBIT.
Atria Sweden had a successful year in 2025. Atria Sweden's organisation showed excellent expertise and strong commitment throughout the year, which was clearly reflected in the development of the business and its results. Net sales and EBIT increased significantly. The growth was driven by increased sales to both the retail trade and Foodservice customers. The acquisition of Gooh! in May 2024 also strengthened the growth of Atria Sweden's net sales and EBIT. Gooh! convenience foods continued to develop strongly in the fresh convenience food segment and strengthened their position in the retail trade. Increased efficiency in production and logistics also improved profitability and strengthened Atria Sweden's competitiveness.
Atria Denmark & Estonia's result was strong under the circumstances. The challenges caused by African swine fever affected the operations, but the crisis was handled very well and in a controlled manner in Estonia. This shows that our operating model and risk management are strong even in exceptional situations. The efficiency measures implemented by Atria Denmark strengthened productivity and improved the result.
In addition, significant investment decisions were made in 2025. In Finland, modernisation projects worth approximately EUR 90 million were launched to renew production processes, improve energy efficiency and strengthen the capacity to meet the growing demand for convenience food. The new pancake production line and the extensive modernisation of convenience food production are taking operations to the next level. The renewal of the Kauhajoki unit with an investment of EUR 16 million supports the commercialisation of Finnish beef for both domestic and export markets. In Sweden, an investment of approximately EUR 23 million in the production of meat products at the Sköllersta plant improves quality, energy efficiency and the reliability of deliveries.
In 2025, the results of the employee satisfaction survey continued to improve. At Atria, we are more committed, motivated and satisfied with our meaningful work. In an external reputation survey, we also achieved the best results in our measurement history. Stakeholders' trust in Atria has further strengthened, which supports long-term brand value and the company's attractiveness.
Atria's position as a responsible operator was also confirmed in the Sustainable Brand Index survey. Atria's sustainable investments?in the transparent supply chain, domestic production, animal welfare, and climate and environmental work?were positively reflected in consumer evaluations and strengthened our brand as one of the most responsible operators in the sector."
October - December 2025
Atria Group's net sales for the October-December period were EUR 476.5 million (EUR 445.3 million). The Group's adjusted EBIT was EUR 14.0 million (EUR 13.2 million), or 2.9% (3.0%) of net sales. EBIT totalled EUR 8.1 million (EUR 13.2 million). The EBIT includes a non-recurring expense of EUR 5.9 million related to the disposal and restoration of the Kuopio plant site.
In October, Atria launched an investment of around EUR 16 million to modernise the Kauhajoki production plant. The investment includes the demolition of old buildings and the construction of new facilities. The investment strengthens the Kauhajoki unit's ability to produce high-quality Finnish beef for both domestic and export market needs. The change negotiations initiated to implement production restructuring at Atria's plants in Kauhajoki and Jyväskylä have been completed. The restructuring aims to improve the profitability and quality performance of Atria's meat operations by centralising beef cutting operations at the Kauhajoki plant. Beef slaughtering operations will continue at the Jyväskylä plant. As a result of the rearrangements agreed in the change negotiations, the amount of work will be reduced by around 60 people at Atria's Jyväskylä plant. In addition, capacity will be adjusted through temporary layoffs at both the Jyväskylä and Kauhajoki plants. The concentration of production and the investment in Kauhajoki will result in annual savings of around EUR 3 million.
In December, Atria launched an investment of approximately EUR 23 million in the production of meat products at the Sköllersta plant in Sweden. The investment includes a new continuously operating production line, as well as an expansion and upgrade of the production site, in Sköllersta. The investment replaces old production equipment, improves energy efficiency and product quality, and increases the reliability of deliveries. The investment started in December 2025 and will be completed in the first quarter of 2027.
Atria Finland's net sales for the October-December period were EUR 351.3 million (EUR 330.9 million). Good sales development in almost all sales channels improved the net sales of the reporting period. Sales to Foodservice customers were at the previous year's level. The subdued retail market in Atria's product categories in early 2025 picked up towards year-end, with the market growing by 3.3% in the last quarter compared to the corresponding period of the previous year. Adjusted EBIT was EUR 13.6 million (EUR 12.9 million). The adjusted EBIT for the reporting period was EUR 0.7 million higher than in the corresponding period last year. EBIT continued to develop strongly, despite increasing costs weighing on its growth. Atria disposed the Kuopio factory site and will restore the site, which is why a one-off expense of EUR 5.9?million, mainly with cash effect, was recorded in the last quarter of 2025. Leaving the plant site will bring Atria annual savings of approximately?EUR 0.5 million.
Atria Sweden's October-December net sales were EUR 100.6 million (EUR 89.3 million). Net sales grew by EUR 11.3 million from the corresponding period of the previous year. In Sweden, the demand for fresh poultry products continued to grow during the review period, which strengthened Atria's retail trade in poultry products. Gooh! continued its strong growth in the fresh convenience food segment and strengthened its position in retail trade. In the Foodservice business, Atria had a very strong quarter: high volumes and an improved sales mix contributed to growing sales. EBIT totalled EUR 1.7 million (EUR 0.5 million). The growth of net sales and a favourable sales structure strengthened Atria Sweden's EBIT. Increased sales of Gooh! convenience food products boosted the EBIT. Raw material costs, especially beef prices, remained high. At the end of 2025, cases of avian influenza were detected in Sweden. This situation limits the availability of poultry throughout the market.
Atria Denmark & Estonia's net sales in October-December was EUR 30.7 million (EUR 30.7 million). EBIT totalled EUR 0.3 million (EUR 1.2 million). Atria Estonia's retail trade sales decreased by approximately one?per?cent compared to the corresponding period last year. Atria Estonia's net sales and EBIT were weighed down by the costs caused by African swine fever (ASF) and problems with the availability of local raw material. The decrease in the amount of raw material limited sales to the retail trade and industrial customers, in particular. After the ASF cases, the operation of the pig farms returned to normal at the end of the reporting period. Since January 2026, slaughterhouse volumes are back to normal levels. Atria Denmark's net sales increased thanks to improved sales volumes, especially to export customers. The Danish market for cold cuts has grown slightly at the end of the year. During the reporting period, Atria Denmark launched projects to improve production efficiency and productivity.
January - December 2025
Atria Group's net sales in January-December were EUR 1,813.7 million (EUR 1,755.4 million). The Group's net sales increased by EUR 58.4 million year-on-year. Consolidated adjusted EBIT was EUR 69.9 million (EUR 65.4 million), or 3.9% (3.7%). The Group's adjusted EBIT was EUR 4.5 million more than in the previous year. Both net sales and adjusted EBIT were at the highest level in our Group's history. The Group's consolidated EBIT was EUR 64.0 million (EUR 66.4 million). The EBIT includes a non-recurring expense of EUR 5.9 million related to the disposal and restoration of the Kuopio plant site.
In September, Atria announced its new strategy for 2025-2030. Called TOGETHER 2030, the strategy highlights the importance of working together to achieve the vision - to be the winning Northern European food company. The strategy focuses on ensuring the competitiveness of the core business, allocating investments and resources to rapidly growing product categories, increasing cross-border cooperation to exploit economies of scale and renewing to meet future needs.
In July, Atria announced that it would invest EUR 82.4 million in the modernisation of convenience food production and the related energy solutions. This includes the renovation of the existing production plant in Nurmo, as well as the replacement of its production process and other technical systems with the most energy-efficient solutions. The plant's annual energy consumption is expected to decrease by around 50,000 MWh, which is around 21% of Atria Finland's energy consumption. In addition, heat production is modified so as not to produce any carbon dioxide emissions. The renewed production process enables the development of innovative products, improved product quality and the utilisation of state-of-the-art technology in convenience food production. These measures are major steps towards Atria's ambitious environmental goals. The project will create a model for a carbon-neutral plant concept of the future. The energy solutions included in this investment will result in total annual savings of more than EUR 5 million. The construction of the convenience food factory began in November.
In April, Atria Finland announced an investment of EUR 7 million investment in a new pancake production line and the technical modernisation of the production department. The investment will increase the production capacity of pancakes, which will respond to increasing demand. Atria is looking for growth in the sales of pancakes both in Finland and in export markets. The investment will enable the development of new and innovative products. The investment is expected to be completed in the third quarter of 2026.
Tauno Perälä, MSc (Tech), was appointed Executive Vice President of Atria Group's Industrial Operations function and a member of the Group Management Team. He started in his post on 1 October 2025. Since joining Atria Finland in 2011, Perälä has served in demanding production leadership positions. Alongside his new responsibilities, he will continue to serve as SVP of Industrial Operations at Atria Finland and as a member of Atria Finland's Management Team.
Merja Leino, who has long served as Atria Group's EVP for sustainability, has announced that she will retire on 1 June 2026. Kati Janhunen, MSc (Econ), was appointed as Atria Group's EVP, Sustainability, and a member of the Group Management Team. She has 20 years of experience in leading consumer brands, innovation, and product categories at both Arla and Unilever. In addition, she has strong expertise in managing and commercialising sustainability, particularly within consumer-driven businesses.
Jaana Viertola-Truini, a member of the Board of Directors of Atria Plc, resigned from the Board due to her other work commitments. Atria will continue for the time being with eight Board members.
Atria Finland's January-December net sales amounted to EUR 1,319.6 million (EUR 1,295.6 million). The strong sales growth in July-December reversed the downward trend in net sales from earlier in the year and turned it into growth. In particular, sales to the retail trade increased towards the end of the year. Sales to export and industrial customers, as well as feed sales, were higher than in the previous year. The nutrition recommendations published at the end of 2024 have had a negative impact on consumer demand for meat products, but the decline in demand is levelling off compared with the early part of the year. Full deliveries could not be made for the Easter and May Day periods due to strike of the Finnish Food Workers' Union in April and the overtime and shift change bans related to labour market negotiations. Industrial action had a negative impact on deliveries, net sales and EBIT for the reporting period. Adjusted EBIT was EUR 62.2 million (EUR 60.4 million), up EUR 1.8 million from the corresponding period in the previous year. The good performance of 2025 resulted from the improved efficiency of poultry production and the concentration of production in the new poultry plant in Nurmo. The strong growth of net sales in H2 and the start of chicken exports to China at the end of 2024 were key drivers of the improved EBIT. Cost increases weighed on the development of EBIT.
Atria Sweden's January-December net sales amounted to EUR 392.7 million (EUR 360.2 million). The net sales for the full year grew by EUR 32.5 million from the previous year. In local currency, net sales grew by 5.0%. Sales to the retail trade and Foodservice customers has been developing favourably. The retail market for fresh poultry meat and convenience foods has been growing strongly in Sweden. Atria has been able to increase its sales in the growing market. The acquisition of Gooh! in May 2024 increased net sales. EBIT totalled EUR 8.3 million (EUR 4.5 million). Full-year EBIT increased significantly. Successful sales and marketing measures, improved sales structure, and increased efficiency in production and logistics supported earnings development.
Atria Denmark & Estonia's January-December net sales were EUR 124.8 million (EUR 125.9 million). EBIT totalled EUR 4.9 million (EUR 5.3 million). The decrease in net sales and EBIT was due to swine fever infections at Atria's pig farms in Estonia, which caused additional costs and market disturbances. The year 2025 was exceptionally challenging for Atria Estonia. The spread of African swine fever (ASF) in Estonia led to infections at two of Atria's pig farms in the summer, which affected both primary production and the operations of the Valga production unit. As the availability of local raw material decreased, retail trade and industrial sales had to be restricted. Sales to the retail trade increased by 1.3% compared with the previous year, and Atria managed to strengthen its market share in the Estonian retail trade. The year 2025 was challenging for the Danish retail trade, with consumption declining, and competition intensifying significantly. Atria's sales volumes decreased due to product removals and even tougher price competition. Export business, on the other hand, experienced strong growth. Production efficiency measures and new production solutions improved productivity and the utilisation rate of production facilities, which strengthened the result for the full year.
| Group key indicators | ||||
| Q4 | Q4 | Q1-Q4 | Q1-Q4 | |
| EUR million | 2025 | 2024 | 2025 | 2024 |
| Net sales | 476.5 | 445.3 | 1813.7 | 1755.4 |
| Adjusted EBIT | 14.0 | 13.2 | 69.9 | 65.4 |
| Adjusted EBIT, % | 2.9 % | 3.0 % | 3.9 % | 3.7 % |
| EBIT | 8.1 | 13.2 | 64.0 | 66.4 |
| EBIT, % | 1.7 % | 3.0 % | 3.5 % | 3.8 % |
| EPS, EUR | 0.14 | 0.27 | 1.44 | 1.41 |
| Adjusted EPS, EUR | 0.31 | 0.27 | 1.61 | 1.38 |
| Shareholders' equity per share EUR | 15.32 | 14.28 | ||
| Adjusted return on equity (rolling 12m), % | 11.0 % | 10.1 % | ||
| Adjusted return on investment (rolling 12m), % | 10.5 % | 10.2 % | ||
Sustainability: aiming for a carbon neutral food chain
On 7 March 2025, Atria published its first sustainability report in accordance with the Corporate Sustainability Reporting Directive (CSRD) as part of the Board of Directors' report. The report is published on Atria's website at: https://www.atria.com/en/investors/financial-information/annual-reports/
A carbon neutral food chain is the most important goal of Atria's sustainability work. Atria's emissions reduction targets have been officially approved by the Science Based Targets (SBTi) initiative. The targets are based on the Paris Climate Agreement and aim to limit global warming to 1.5 degrees Celsius globally. In the targets approved by SBTi, Atria commits to reducing greenhouse gas emissions from its own operations (Scopes 1 and 2) by 42% by 2030 from 2020 levels. The reduction target for Scope 3 emissions is 20% per tonne of processed meat by 2030.
In July, Atria announced an investment of EUR 82.4 million in the modernisation of convenience food production and the related energy solutions. This includes the renovation of the existing production plant in Nurmo, as well as the replacement of its production process and other technical systems with the most energy-efficient solutions. The plant's annual energy consumption is expected to decrease by around 50,000 MWh, which is around 21% of Atria Finland's energy consumption. In addition, heat production is modified so as not to produce any carbon dioxide emissions. These measures are major steps towards Atria's ambitious environmental goals. The project will create a model for a carbon-neutral plant concept of the future. The energy solutions included in this investment will result in total annual savings of more than EUR 5 million. The construction of the convenience food factory began in November.
Atria's beef steak won the World's Best Grass-Fed Fillet category in the World Steak Challenge. The World Steak Challenge competition has been organised since 2015, and Atria has been at the gold level almost every year. The success shows that Atria's responsibly grass-fed Finnish beef is among the best in the world. In particular, the taste and tenderness of the steaks, as well as the sustainability of their origin, are assessed in the competition. The World's Best Grass-Fed Fillet category emphasises a natural and sustainable production method that supports the circular economy and promotes biodiversity. The meat chosen for the World Steak Challenge has always come from grass-fed cattle.
The employee survey carried out at the end of 2025 showed a clear improvement in employee engagement. Atria's employer image is strong: employees find the company's values and goals meaningful, and 85% would recommend Atria as an employer and see themselves working at the company a year from now. On the whole, clear expectations at work, an improved feedback culture and experiences of success contributed to the excellent result.
Future outlook and guidance
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 unstable pork market in Europe, animal disease risks and low consumer confidence in Atria's domestic markets are risk factors that may affect the EBIT in the near future.
The Board of Directors' proposal for dividends in 2025
The Board of Directors proposes that a dividend of EUR 0.75 be paid for each share for the 2025 financial period.
Disclosure
Atria Plc complies with the disclosure procedure in accordance with standard 5.2b of the Financial Supervisory Authority and publishes its financial statement release for 1 January to 31 December 2025 as an attachment to this stock exchange release. The full release is available on the company's website at www.atria.com.
Publication of the interim report
Atria Plc's CEO Kai Gyllström will present the company's financial statement release in a webcast today, 12th of February 2026 at 1 - 2 pm. The webcast is available on Atria's website at www.atria.com/sijoittajat/ in Finnish language. During the webcast, you can ask questions in writing via chat. The recording of the press conference and the presentation material of the event will be available during the same day at www.atria.com/sijoittajat/taloustieto/osavuosikatsaus/.
ATRIA PLC
Board of Directors
For more information, please contact: Kai Gyllström, CEO, Atria Plc. Contacts and interview requests via Communications Manager Marja Latvatalo, e-mail: marja.latvatalo@atria.com, tel. +358 400 777 874.
DISTRIBUTION
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Major media
www.atria.com
The financial statement release is available on our website at www.atria.com.
