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Jarmo Lindholm, 4 December 2012,

Capital Markets Day Atria Russia

Atria RussiaReview 1 January – 30 September 2012

€ MillionQ3

2012Q3

2011Q1-Q3

2012Q1-Q3

2011 2011

Net sales 33.9 31.0 93.5 91.8 123.0

• Atria Russia’s EBIT for Q3/2012 improved by EUR 3.9 million over the comparative period.

• Net sales for January–September increased by EUR 1.7 million.

EBIT 0.6 -3.3 -4.7 -14.5 -18.9

EBIT % 1.8 -10.7 -5.0 -15.8 -15.4

Extraordinary items* 0.0 0.0 0.0 0.0 0.0

*Extraordinary items are included in the reported figures.

• EBIT for the period showed an improvement of EUR 9.8 million year-on-year.

• The considerable increase in EBIT was the result of the implementation of measures in line with the strategy. These included improving the cost structure, enhancing efficiency in raw material procurement and management, and strengthening the market position in the St Petersburg region.

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Atria Russia• During the first half of the year, Atria

Russia launched a programme aimed at improving productivity at the Sinyavinoand Gorelovo plants in St Petersburg.

• These measures are expected to generate annual cost savings of around EUR 2.0 million, which will be fully realised from the beginning of 2013.

• Meat products are now produced at the centralised Sinyavino and Gorelovoplants.

• Atria started to gain positive growth in netAtria started to gain positive growth in net sales in Q3.

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Atria Russia turnaround program has been in force for 5 quarters now: Result improvement has been significant

EBIT Previous year EBIT improvementEBIT EBIT improvement

MEURQ3/2011 -3,3 -5,0 1,7Q4/2011 -4,5 -7,6 3,1Q1/2012 -3,3 -5,6 2,3Q2/2012 -2,0 -5,6 3,6

4

Q3/2012 0,6 -3,3 3,8

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Atria Russia Turnaround program 2011-2013 is still continuing

3 KEY OBJECTIVES (in chronological order) Timetable( g )

1) Positive EBITDA and cash flow Y 2012

2) Positive EBIT During H2/2013

3) Profitable growth 2013

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3) Profitable growth 2013

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Atria Russia Strategy 2015 Summary

Category leadershipSales up! RussiaStrong Sibylla expansionStrong new product development

Industrial excellence in operationsEfficient organizationStrong supply chain development

Corporate values & culture developmentStrong Leadership and management system development

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development development Absolute cost consciousness in all actions

developmentGood co-operation and team spirit

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Commercial Excellence

Atria Russia core businesses: Processed

Atria Russia Strategy 2015 Summary

Processed Meat products

Convenience food & Sibylla

Branded products

SPb & MSCAtria

businesses: Processed meat products, convenience food and Sibylla

• High market value potential in cold cuts.

• Strong market position in sausages category SPb & MSC

EfficiencyAtria

Way of Work

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category

• Strong market growth potential in convenience food and Sibylla.

• Strong assortment management and new product development implementation

Atria’s way to number 1

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Commercial excellence through category leadership

• Strong growth through cold cuts and convenience food categories.

• Defend strong market position in sausages category in Saint Petersburg.

• Strong new concept and product development for the

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local markets.

• Focused support behind the two local brands: Campomos and Pit Product.

• Deepen co-operation with key retailers and open new sales channels.

Operational efficiency to improve margins

• Exploit the full industrial potential of Gorelovo: The most modern processed meats factory in Russia.

• Streamline raw material purchasing and raw material optimization

• Further increase operational efficiency in all

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Further increase operational efficiency in all functions (improvement potential exists).

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Unify the way we work andcreate bold, high performance culture

• Strong Leadership and management system development

• Corporate values & culture development: Unified corporate culture

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Market overview Russia

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Macro Economics Retail turnover dynamics in Russia in billion RUR and annual growth (excl. inflation)

18000

20000

6,4%

7,0%

4 71 16 4061 50

22 6510 7095 80

35 9122

1944 23

65 2972 37

25 4651

5847

7405 75

04

8464

9961

2000

4000

6000

8000

10000

12000

14000

16000

8,8%

16,1%

13,7%-5,1%

13,3%

12,8%

14,1%

9,3%

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1822 2164 267 33 4

02002 2003 2004 2005 2006 2007 2008 2009 2010 2011

FOOD RETAIL NONFOOD RETAIL

• Food/Nonfood ratio – 46% / 54% is constant (+ -1%) during period of research• In 2011 nonfood growth was 10,7% and food only 3,6%• 6.3% growth for 9 months of 2012 (faster in the beginning of 2012 and slow down in Sept)

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Market Update

Meat processed products market dynamics, tons

2 434 2 486

2 450

2 500

2 395

2 219

2 385

2 200

2 250

2 300

2 350

2 400

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2 100

2 150

2007 2008 2009 2010 2011

2008 2009 2010 2011

2% -9% 7% 4%Growth

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Спасибо за внимание

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