3 December 2014

1

CEO Juha Gröhn, 3 December 2014

Capital Markets DayAtria Plc

3 December 2014

1

Atria Capital Markets Day 3.12.2014 -ohjelma

1.Tervetuloa / toimitusjohtaja Juha Gröhn, Atria Oyj (12.00 – 12.30)

• Atrian strategia ja Q3 katsaus• Taloudelliset tavoitteet• Lihamarkkinakatsaus

2. Atria Venäjä / toimitusjohtaja Jarmo Lindholm (12.30 – 13.00)

• Katsaus Atria Venäjän strategiaan• Markkinakatsaus

3. Atria Skandinavia / toimitusjohtaja Tomas Back (13.00 – 13.30)

• Katsaus Atria Skandinavian strategiaan• Markkinakatsaus

Kahvitauko 13.30 – 13.45

4. Atria Suomi / toimitusjohtaja Mika Ala-Fossi (13.45 – 14.15)

• Katsaus Atria Suomen strategiaan • Markkinakatsaus

5. Atria Baltia & yhteenveto / Juha Gröhn (14.15 – 15.00)

• Katsaus Atria Baltian strategiaan• Markkinakatsaus• Tilaisuuden yhteenveto

23 December 2014

3 December 2014

2

Atria Group1 January – 30 September, 2014

EUR millionQ3

2014Q3

2013Q1-Q3

2014Q1-Q3

2013 2013

Net sales 364.4 358.4 1,062.7 1,050.4 1,411.0

16 2 1 8 22 0 9 1 19

* Extraordinary items are included in the reported figures.

• Atria Group's third-quarter results developed positively despite difficult market conditions.

EBIT 16.2 -1.8 22.0 9.1 19.7

EBIT % 4.4 -0.5 2.1 0.9 1.4

Profit before taxes 13.6 -5.0 17.7 -0.2 6.9

Earnings per share, € 0.35 -0.54 0.45 -0.48 -0.15

Extraordinary items* 0.6 -16.3 -0.6 -15.2 -17.3

330 Oct, 2014

• Net sales for July–September grew by EUR 6.0 million year-on-year.

• EBIT for July–September without non-recurring items was EUR 15.6 million (EUR 14.5 million).

• Net sales for January–September grew by EUR 12.3 million year-on-year.

• EBIT for January–September without non-recurring items amounted to EUR 22.6 million (EUR 24.4 million).

Atria Group Net Salescumulative, quarterly

€ Million1411

1600

306 304 309 328 327

623 638 642 692 698

954 963 9831050 1063

1301 1302 13441411

400

600

800

1000

1200

1400

30 Oct, 2014 4

0

200

2010 2011 2012 2013 2014

Q1 Q2 Q3 Q4

3 December 2014

3

Atria Group EBITcumulative, quarterly

30,230 0

40,0 € Million

1,0 0,13,2

5,7 5,8

10,9

5,85,33,8

22,4

9,1

22,0

9,88,0

19,7

0 0

10,0

20,0

30,0

-4,2-2,5

-5,2

-10,0

0,0

2010 2011 2012 2013 2014

30 Oct, 2014 5

Extra ordinaryitems

-11.8 M €

Extra ordinaryitems

-2.2 M €

Extra ordinaryitems

-0.5 M €

Extra ordinaryitems

-17.3 M €

Extra ordinaryitems

-0.6 M €

Atria GroupFinancial indicators

€ Million 30.9.2014 30.9.2013 2013

Shareholders' equity per share, EUR 14.38 14.26 14.45

Interest-bearing liabilities 314.9 361.0 334.7

Equity ratio, % 42.1 40.9 42.2

Gearing, % 76.8 88.7 81.3

Net gearing, % 75.9 84.5 74.3

Gross investments in fixed assets 55.3 29.2 41.1

Gross investments, % of net sales 5.2 2.8 2.9

Average number of employees 4,773 4,688 4,669

30 Oct, 2014 6

• In September, Atria discontinued a committed credit facility of EUR 40 million due in September 2017.

• On 30 September 2014, the Group had undrawn committed credit facilities worth EUR 109.5 million (31 December 2013: EUR 148.2 million). The average maturity of loans and committed credit facilities at the end of the period under review was 2 years 10 months (31 December 2013: 3 years 4 months).

• The Group's operating cash flow was EUR 48.9 million (EUR 44.8 million) and cash flow from investments was EUR -54.3 million (EUR -24.1 million).

• During the review period, the Group's free cash flow (operating cash flow - cash flow from investments) was EUR -5.4 million (EUR 20.7 million).

3 December 2014

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Outlook for the future / revised 13 Nov 2014

• The company estimates its full-year 2014 EBIT ith t i2014 EBIT without non-recurring items to be at the same level as the previous year's EBIT of EUR 37.0 million.

• Net sales are expected to grow in 2014.

3 December 2014

7

Financing

3 December 2014

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3 December 2014

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Financing principles

• Atria’s strategy is to arrange financing throughbalanced allocation and distribution of

– Financial instruments

– Loan maturities

– Financial institutions

• The main covenant used in loan agreements is a minimum equity ratio covenant of 30%minimum equity ratio covenant of 30%

– Reported to financiers either quarterly or semi-annually

93 December 2014

Loan facilities by instrument Q3/2014Outstanding loans and committed credit facilities

8 %

18 %

1 %28 %

11 %Overdraft facilities

Commercial papers

Uncommitted credit facilities

Committed credit facilities

Bank and other loans

34 %

Bonds

103 December 2014

3 December 2014

6

Maturity structure of loan facilities Q3/2014

140

160

180

20

40

60

80

100

120

Undrawn

Withdrawn

0< 6 mths < 1 yr < 2 yrs < 3 yrs < 4 yrs < 5 yrs > 5 yrs

11

• The amount of undrawn committed credit facilities stood at EUR 109,5 million

• The average maturity of loans and committed credit limits at the end of the review period was 2 years 10 months.

Financiers

Five Nordic banks

Banks56 %Insurance

Other (Bonds &

CP's)29 %

Five Nordic banks

Two domesticinsurancecompanies

Other institutions in bonds and CP’s

56 %Insurance companies

15 %

123 December 2014

3 December 2014

7

Atria GroupNet debts

€ Million500

411 403364

306 312

200

300

400

30 Oct, 2014 13

306

0

100

2010 2011 2012 2013 Sept 30, 2014

Mission, vision, strategy

3 December 2014

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3 December 2014

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3 December 2014

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Strategic roadmap

2011

Focus on capital and cost efficiency

Solid foundation for future growth

2014

Focus on 3 strategic fields:

- Commercial excellence

- Efficiency

W f W k

2002-2008

Focus on growth and internationalization

Investments and acquisitions

g- Way of Work

3 December 2014

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3 December 2014

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Strategy implementation examples

Efficiency Jyväskylä & Sahalahti synergies

Investments inEfficiency Investments in packaging in Sweden

Commercial excellence

Sibylla expansion In Russia

Commercial excellence

No 1 in consumerinformation

Commercial ll

Finnish origin and t bilit

3 December 2014

excellence traceability

Way of Work Way of Leading

Way of Work Atria’s values

17

Financial targets

Indicator Target

EBIT % 5%

Equity ratio 40%

ROE % 8%

Dividend distribution of Net Income 50%

3 December 2014

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3 December 2014

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Meat Market Situation

3 December 2014

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Content

1. Feed pricedevelopment

2. Meat pricedevelopment

3. Meat production and consumption

4. Competition

3 December 2014

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3 December 2014

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International feed price 2011 - 2014

213 December 2014

Feedprices in Finland 2008-2014

3 December 2014

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Source: A-Rehu Ltd. 11/2014

3 December 2014

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Pig prices 2010 – 2014 EU, Brazil and the US

233 December 2014

Source: European Commission

EU average pig price in 2014

243 December 2014

Source: European Commission

3 December 2014

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Producer price of pigs

253 December 2014

Producer price of bovine

263 December 2014

3 December 2014

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Meat consumption per capita

273 December 2014

• Denmark 86 kg per capita• Sweden 85 kg per capita• Finland 75 kg per capita• Russia 75 kg per capita• Estonia 69 kg per capita

Consumer prices in Finland 2010 - 2014

283 December 2014

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293 December 2014

Summary

• Consumer purchasing power determines the market development in all business areas.

• Raw material prices and operational efficiencyhave a significant role in profitabilityhave a significant role in profitability.

• In Finland market development is challenging. • In Russia raw material price increase has

stabilized by the end of the year 2014. Industrial operations are streamlined – business environment is challenging.

• Development in Scandiavia and in Baltic showsDevelopment in Scandiavia and in Baltic showsimprovement.

• Financial status is stabile.• Long-term trends and drivers positive.

303 December 2014

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313 December 2014