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Новости Новости мясного рынка Европы HKScan Group’s interim report 1 January – 31 March 2012
Четверг, 28 Июня 2012 00:00

HKScan Group’s interim report 1 January – 31 March 2012 Избранное

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The performance improvements in other market areas did not compensate difficulties in HKScan's market area in Sweden


- HKScan’s net sales in January-March 2012 totalled EUR 606.1 million (EUR 592.7 m in the corresponding quarter of 2011), growing by 2.3 percent. Eliminating changes in currency rates, growth stood at 3.2 percent.

- Group EBIT came in at EUR -0.6 million (EUR 1.4 million) and was slightly negative due to the difficulties experienced by the business in Sweden in the early part of the year.

- Performance in the Group’s other market areas in Finland, the Baltics, Denmark and Poland was according to plan.

 

- Market position remains for the most part strong in all the Group’s market areas. In Sweden, increased volumes of meat sold under private labels and growth in imports have weakened the outlook.

- At the end of March HKScan signed a five-year EUR 250 million secured multi-currency credit facility agreement.

- Net financial expenses were EUR -7.9 million (EUR -5.2 m). Higher loan margins were the main reason for the rise.

- HKScan announced in early April the launch of a development programme to be implemented until the end of 2013. The aim of the programme, which covers Finland, Sweden, Denmark and the Baltics, is to achieve annual performance improvements exceeding EUR 20 million and considerable reductions in invested capital.

- Due to the weakened outlook for the business in Sweden, there is a risk that the Group’s EBIT for 2012 will come out below the level of 2011. Previously it was estimated that the EBIT for 2012 will be better than in 2011.

Read the whole Q1/2012 interim report here.

Source: HKScan

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