Atria Group's net sales increased, result weakened

25.2.2009 08:00


- net sales increased by 6.7%                                                   
- operative EBIT percentage was 2.9% (4.8% in 2007)                             
- strategically significant acquisitions in Russia, Sweden and Estonia          
- increasing cost of raw materials weighed down Atria's performance             
- the international economic crisis and weakening currencies had a negative     
impact on the company's performance in the last three months of the year        

Atria Group:                                                                    
                              Q4/        Q4/                                    
EUR million                   2008       2007         2008       2007           
Net sales                     361.1      337.1      1,356.9    1,272.2          
EBIT                            3.8       13.2         38.4       94.5          
Operative EBIT*                 3.8       13.7         39.9       61.4          
Operative EBIT%                 1.1        4.1          2.9        4.8          
Profit before taxes            -8.4       11.3         16.7       80.6          
Earnings per share             -0.21      0.28         0.42       2.56          

* Operative EBIT = operating profit excluding significant non-recurring items.  

Review Q4/2008                                                                  

Atria Group's Q4 net sales showed a clear year-on-year increase. The sales and  
profitability of Atria Finland were good also in Q4. The performance in other   
business areas was unsatisfactory. The international economic crisis that       
worsened during the autumn and the weakening against the euro of currencies     
significant to Atria decreased the earnings in Sweden and Russia. The business  
operations of the Russian company OOO Campomos, bought in the summer, are       
included in the figures for the period as of 15 October 2008.                   

The economic slowdown had an impact on the development of sales volumes in all  
of Atria's market areas.  In St Petersburg, however, volumes grew strongly in   
all product groups, and the company's market position strengthened further      
during the period under review.                                                 

The performance of Atria Scandinavia and Atria Russia were weighed down by the  
weakening of the Swedish krona and the Russian rouble during the period under   
review. A considerable share of the raw material used by Atria in Sweden and    
Russia is imported, the cost of which has risen due to the weakened currencies. 
During the period, Atria was not fully able to transfer the increase in raw     
material costs to sales prices in these business areas.                         

The acquisition of Campomos and the weakening of the Russian rouble against the 
euro increased the Group's financial expenses.                                  

Atria Finland 1 January - 31 December 2008                                      

                              Q4/        Q4/                                    
EUR million                   2008       2007         2008       2007           
Net sales                    206.2      203.9         797.9      749.6          
EBIT                          11.8        9.9          33.9       43.2          
Operative EBIT                11.8        9.9          34.4       43.2          
Operative EBIT%                5.7        4.9           4.3        5.8          

The sales of Atria Finland grew steadily in 2008, but the increase in raw       
material and other industrial costs ate into profitability, particularly during 
the first half of the year. In terms of value, the sales of product groups      
represented by Atria in the Finnish consumer goods retail trade grew by         
approximately 8 percent in 2008. The growth of Atria Finland's brands (Atria,   
Forssan) far exceeded this, standing at about 14 percent. (Source: Atria 2008)  

Sales and profitability developed positively during the barbecue season, which  
is important for Atria's growth. During the barbecue season, Atria strengthened 
its market leadership, and the market share of all of its product groups was    
around 27 percent between May and July.                                         

To enhance cost-efficiency, Atria Finland launched an operational efficiency    
improvement programme at the beginning of the year. The aim for the programme is
to generate cost savings of EUR 4 million. Atria discontinued its operations at 
the Kannus production plant. Bovine slaughtering and cutting were transferred to
the Kauhajoki and Kuopio production plants, and pig slaughtering and cutting to 
the Nurmo production plant. Liha-Pouttu's meat procurement operations were      
merged with A-Farmers Ltd's operations. Additionally, the logistics and meat    
product manufacturing operations of the Forssa production plant were moved to   
Nurmo. The efficiency improvement programme will result in a net reduction of   
approximately 170 persons.                                                      

Q4 sales were good. In particular, the sales of convenience food products were  
good in December. The impact of price increases was evident as improved         
profitability in Q4.                                                            

Atria Scandinavia 1 January - 31 December 2008                                  

                              Q4/        Q4/                                    
EUR million                   2008       2007       2008       2007             
Net sales                    112.4      116.0       455.2      457.8            
EBIT                          -1.2        5.5        14.4       54.9            
Operative EBIT                -1.2        5.9        15.4       20.5            
Operative EBIT%               -1.1        5.1         3.4        4.5            

Due to the weakened exchange rate of the Swedish krona, the 2008 net sales in   
euros decreased by 0.6 per cent compared with the previous year's net sales.    
Atria Scandinavia's year 2008 net sales in kronas increased by 3.9 % compared   
with year 2007.                                                                 

The development of Atria Scandinavia's earnings did not meet the target. The    
positive development at the beginning of the year slowed down in late summer due
to the risen raw material costs, the weakened Swedish krona and the loss-making 
salad and sandwich operations.                                                  

In summer 2008, Atria acquired the Swedish AB Ridderheims Delikatesser, a       
producer of delicatessen products. The acquisition further strengthened Atria's 
market position in Sweden. Ridderheims was consolidated into Atria as of 1 July 
2008. In the autumn, Atria centralised the production of the Lätta Måltider unit
from Halmstad into Norrköping. As a result of the arrangement, 50 of the        
Halmstad plant's employees were laid off.                                       

In Q4, the weakening of the Swedish krona raised the prices of imported raw     
materials, which weighed down Atria's performance in Sweden. The economic       
slowdown has weakened demand in certain product groups towards the end of the   
year. The higher raw material costs caused by the weak krona could not be       
covered in full by the implemented price increases.                             

Costs in the amount of EUR 1.5 million resulting from credit losses and         
restructurings were included in the figures for Q4.                             

Atria Russia 1 January - 31 December 2008                                       

                             Q4/        Q4/                                     
EUR million                  2008       2007         2008       2007            
Net sales                      35.5      16.9        93.8       65.6            
EBIT                           -5.7       0.5        -3.4        4.3            
Operative EBIT                 -5.7       0.5        -3.4        4.3            
Operative EBIT%               -16.1       3.0        -3.6        6.5            

During 2008, Atria Russia grew significantly through both organic growth and a  
corporate acquisition. At the end of July, Atria acquired meat processing       
company OOO Campomos operating in the Moscow and St Petersburg regions. OOO     
Campomos was consolidated into Atria as of 15 October 2008.                     

The new logistics centre in Gorelovo, St Petersburg, was opened in October, and 
all of Pit-Product's deliveries have been dispatched from there since November. 
The opening of the new meat product plant was postponed until 2009 due to       
delayed completion of the water and drain connection. A decision was made at the
end of the year to invest in increasing the dried sausage capacity at the       
Sinyavino plant.                                                                

With its approximately 30 per cent market share, Pit-Product was the market     
leader in the St Petersburg region's modern consumer goods retail trade(Source: 
AC Nielsen 2008). Pit-Product did not achieve its earnings targets, which was   
mainly due to the strong increase in raw material prices. Sales prices were     
increased several times during the year, but failed to catch up the continuously
increasing raw material prices.                                                 

The result of Campomos for the last three months of the year showed a loss (Q4  
EBIT EUR -5.7 million). Atria aims to have the company's EBIT back in the black 
during 2010. This requires that the company further reinforces its market       
position in Moscow, launches new product groups, reduces costs and improves the 
efficiency of its primary production, which was started up in 2008.             

In Q4, the integration of Pit-Product's and Campomos's operations was started,  
and this will continue into spring 2009. Synergy benefits will be achieved in   
purchasing, logistics, marketing and production. The sales and market shares of 
Pit-Product strengthened during the period under review. Atria Russia's         
performance was weighed down by the loss-making Campomos and the weakened       
rouble, which further increased the prices of imported raw materials.           

Atria Baltic 1 January - 31 December 2008                                       

                             Q4/        Q4/                                     
EUR million                 2008       2007          2008       2007 

Net sales                   10.8        6.1          32.3       26.7            
EBIT                        -0.7       -1.4          -3.8       -4.4            
Operative EBIT              -0.7       -1.3          -3.8       -3.1            
Operative EBIT%             -6.5      -21.4         -11.8      -11.6            

Atria made two significant acquisitions in the Baltic region in 2008. AS Woro   
Kommerts and AS Vastse-Kuuste Lihatööstus were consolidated into the Atria Group
as of 1 August 2008. With these acquisitions, Atria became the second largest   
meat industry company in Estonia. The new position will create new development  
opportunities for Atria throughout the Baltic region.                           

Atria's overall market share in Estonia was 22 per cent at the end of 2008.     
During H2 2008, sales grew in all of the important product groups (cold cuts,   
cooking products and consumer-packed meat). The acquisitions considerably       
strengthened the assortment of the most important product groups and Atria's    
position in the market. In the first part of the year, Atria's performance in   
Estonia was weakened by the poor profitability of Valga Lihatööstus. The costs  
of the company's own primary production rose sharply due to increased feed      
prices. The sales price increases were not enough to compensate the risen costs.

In Q4, Atria Baltic's sales grew in the most important product groups, although 
the intensified price competition and the bleak economic outlook weakened demand
during the second half of the year.  The integration of the acquired companies  
into Atria Baltic progressed as planned. The slaughtering and meat cutting      
operations of Vastse-Kuuste were transferred to the Valga plant.                

Events occurring after the period                                               

After the period under review, Atria Scandinavia announced an extensive         
efficiency improvement programme. The measures are expected to produce annual   
savings of approx EUR 7 million, and the number of employees will be reduced by 
approximately 100 at different sites.                                           

Atria Baltic decided to centralise the production of meat products from the     
Vastse-Kuuste plant to the Valga and Ahja production plants. Due to the         
reorganisation the number of employees will be reduced by approximately 100 in  
Atria Baltic sites during 2009. Production of new product groups will be started
at the Vastse-Kuuste production facilities in the autumn. The reorganisation    
measures are expected to generate annual cost savings of approximately EUR 1.4  

Juha Ruohola, Managing Director, Atria Russia was appointed as General Manager  
of OOO Campomos as of 10 February 2009. He will also continue as the Managing   
Director for Atria Russia business area. Juha Ruohola reports to Atria Plc's    
President and CEO Matti Tikkakoski. Sergey Ivanchenko was appointed as General  
Manager of OOO Pit-Product and General Manager & Director of Atria Russia. He   
reports to Juha Ruohola.                                                        


The Group's investments for 2008 totalled EUR 152.6 million and for Q4 EUR 61.3 
million. The proportion of company acquisitions in the overall amount of        
tangible and intangible investments for the year totalled EUR 89.3 million.     


The Group had an average of 6,135 employees (5,947) during the period.          

Personnel by business area:                                                     

Atria Finland         2,378 (2,394)                                             
Atria Scandinavia     1,691 (1,768)                                             
Atria Russia          1,525 (1,278)                                             
Atria Baltic            541   (507)                                             

Atria Plc's Administration                                                      

In its organisation meeting following the General Meeting held on 25 June 2008, 
Atria Plc's Supervisory Board re-elected retiring members Matti Tikkakoski and  
Martti Selin. Ari Pirkola was appointed Chairman of the Supervisory Board, and  
Chairman of the Board Martti Selin was reappointed.                             

Atria Plc's Board of Directors now has the following membership: Chairman Martti
Selin; Vice-Chairman Timo Komulainen; members Tuomo Heikkilä, Runar Lillandt,   
Matti Tikkakoski and Ilkka Yliluoma.                                            


Due to the financial market crisis the number of financing options generally    
available for companies reduced. The liquidity of the bond and commercial paper 
market was very poor, particularly towards the end of the year. Atria has       
financed its maturing commercial papers with existing credit limits.            
Availability of traditional bank financing was more uncertain than previously,  
and loan margins were on the rise. On the other hand, the steep decline of      
market interest rates that started in the autumn has reduced financing costs.   

Atria was able to keep its financing position stable. During the period October 
to December, Atria acquired new long-term, 5-7 year financing in the amount of  
EUR 69 million, of which the proportion of TyEL (Employee Pensions Act) premium 
lending was EUR 39 million. In addition, two committed credit limits were signed
in December, totalling EUR 32 million. There was a total of EUR 126 million in  
unutilised committed credit limits at the end of the year.                      

Atria made four significant acquisitions in 2008. During the third quarter, the 
acquisition of AB Ridderheims Delikatesser was completed in Sweden and the      
acquisitions of AS Woro Kommerts and AS Vastse-Kuuste in Estonia. The           
acquisition of OOO Campomos was completed in Russia in the fourth quarter. The  
liabilities of the acquired companies were transferred in the transactions, and 
the remainder of the purchase prices of the companies was paid with cash funds  
and existing credit limits.                                                     

OOO Campomos had approximately EUR 66 million in foreign-currency-denominated   
liabilities, the reorganisation of which was commenced after the acquisition. In
November, OOO Campomos amortised its euro-denominated loans by approx EUR 35    
million. Of OOO Campomos's euro-dominated loans at the time of the financial    
statements, EUR 13 million has been paid off in January 2009 and further        
repayments will be made during the early part of the year. OOO Campomos's       
foreign-currency-denominated loans generated exchange rate losses of            
approximately EUR 5 million during the period due to the weakening of the       

Largest shareholders on 31 December 2008                                        

                                 KII          A          Total        %         
Itikka Co-operative        4,914,281   2,457,801     7,372,082    26.08         
Lihakunta                  4,020,200   3,351,797     7,371,997    26.08         
Odin Norden                            1,687,300     1,687,300     5.97         
Skandinaviska Enskilda Banken          1,449,436     1,449,436     5.13         
Nordea Bank Finland Plc                  754,733       754,733     2.67         
Pohjanmaan Liha Co-operative 269,500     480,038       749,538     2.65         
Odin Finland                             695,214       695,214     2.46         
OP-Suomi Arvo                            404,922       404,922     1.43         
Public pension insurance company Veritas 309,000       309,000     1.09         
Nordea Life Assurance Finland Ltd        225,000       225,000     0.80         

Largest shareholders in terms of voting rights, 31 December 2008                

                                 KII           A      Total           %         
Itikka Co-operative       49,142,810    2,457,801    51,600,611   46.44         
Lihakunta                 40,202,000    3,351,797    43,553,797   39.20         
Pohjanmaan Liha Co-operative 2,695,000    480,038     3,175,038    2.86         
Odin Norden                             1,687,300     1,687,300    1.52         
Skandinaviska Enskilda Banken           1,449,436     1,449,436    1.30         
Nordea Bank Finland Plc                   754,733       754,733    0.68         
Odin Finland                              695,214       695,214    0.63         
OP-Suomi Arvo                             404,922       404,922    0.36         
Public pension insurance company Veritas  309,000       309,000    0.28         
Nordea Life Assurance Finland Ltd         225,000       225,000    0.20         

Short-term Business Risks                                                       

The development of international meat raw material prices in the near future is 
a significant risk in all of Atria's business areas. In Sweden and Russia, the  
significant proportion of imported raw material creates further cost uncertainty
due to currency fluctuations. Changes in Russia's import duties also bring      
further uncertainty to the imported raw material prices.                        

In Russia, a significant risk is the delayed start of the meat product plant in 
Gorelovo, St Petersburg, and its impact on Atria's growth in the near future.   
Improving Campomos's profitability requires rapid operative and strategic       

The impact of the international financial market crisis on the availability and 
price of financing increases the risk of the liquidity of Atria's customers     
weakening and of possible credit losses in the future. The rise in loan margins,
the high interest rates in Russia and the fluctuation of the rouble in relation 
to the euro also affect Atria's financial expenses.                             

Outlook for the Future                                                          

The net sales of the entire Group are estimated to grow in 2009. The economic   
slowdown will have some effect on sales volumes and the demand for certain      
product groups. Demand for more expensive products is expected to decline, while
the demand for inexpensive products will strengthen.                            

Because of the international economic situation, there is considerable          
uncertainty related to the result prognosis, and it is difficult to anticipate  
the international price development of meat raw material.                       

Due to the loss-making Campomos and the weakening of the rouble that continued  
during the beginning of the year, Atria Russia's EBIT will remain below last    
year's level.                                                                   

Board Authorisations                                                            

The General Meeting held on 29 April 2008 resolved to authorise the Board of    
Directors to decide, on one or several occasions, on a share issue involving a  
maximum of 10,000,000 new Series A shares at the nominal value of EUR 1.70 per  
share. The authorisation is valid until the closing of the next Annual General  
Meeting, or until 30 June 2009, whichever occurs first. The authorisation does  
not repeal the Board's current authorisation to decide on a reserve increase.   

The General Meeting has previously authorised the Board of Directors to decide  
on one or several reserve increases, which may increase the company's share     
capital by a maximum of EUR 850,000. The authorisation is valid for a maximum of
five years from the date of the General Meeting's decision.                     

Purchase and transfer of treasury shares                                        

The General Meeting held on 29 April 2008 authorised the Board of Directors to  
decide on the purchase of up to 2,800,000 A shares of the Company with the      
Company's unrestricted equity. The maximum amount of the Series A shares to be  
acquired is less than 10 percent of all the Company's shares. The authorisation 
is valid until the closing of the next Annual General Meeting, or until 30 June 
2009, whichever occurs first.                                                   

The General Meeting held on 29 April 2008 authorised the Board of Directors to  
decide on the transfer of treasury shares held by the Company in one or more    
batches, so that a maximum total of 2,800,000 Series A shares are subject to the
authorisation. The authorisation is valid until the closing of the next Annual  
General Meeting, or until 30 June 2009, whichever occurs first.                 

Based on the authorisation of the General Meeting, Atria Plc's Board of         
Directors decided to purchase up to 300,000 A shares of the company.  In        
accordance with the authorisation, the shares to be purchased are intended to be
used as consideration in possible company acquisitions or other arrangements    
relating to the company's business, for the financing of investments, for the   
implementation of the company's incentive programme, for improvement of the     
company's capital structure, or to be kept by the company, otherwise assigned or
cancelled. The acquisition of treasury shares began on 29 September 2008 and    
will end no later than 30 June 2009.                                            

A total of 35,260 own Series A shares held by the Company were transferred free 
of charge to key persons belonging to Atria's incentive programme for the       
accrual period 2007. The date of the share transfer was 19 December 2008. As of 
31 December 2008, the Company held 47,157 treasury shares.                      

Corporate Governance Principles                                                 

Atria's Corporate Governance Principles and deviations from the Finnish         
Corporate Governance Code 2008 are published on the Company's website at                                                          

Dividend proposal                                                               

The Board of Directors proposes that a dividend of EUR 0.20 be paid for each    
share for the financial year 2008.                                              

Annual General Meeting on 29 April 2009                                         

Atria Plc invites its shareholders to the Annual General Meeting, which will be 
held on Wednesday, 29 April 2009 in Helsinki at the Finlandia Hall.             

The AGM will address the following matters, among others:                       

1. Matters to be addressed at the AGM as set out in Article 16 of the Articles  
of Association.                                                                 

Restrictions on trading by insiders                                             

The Company's insiders may not trade company shares during a period which is 14 
days before the publication of the Company's interim reports and financial      
statement release (“closed window”).                                            

Financial calendar 2009                                                         

Atria Plc will publish three interim reports in 2009:                           
- interim report January to March on 28 April 2009 at approximately 08:00       
- interim report January to June on 30 July 2009 at approximately 08:00         
- interim report January to September on 27 October 2009 at approximately 08:00.

The Annual General Meeting will be held in Helsinki on 29 April 2009. The Annual
Report will be published during week 16/2009. The interim reports may also be   
viewed on the company's website at immediately after their

Silent period                                                                   

Atria Group's IR adopts a silent period, which means that Atria does not give   
any statements about its financial situation three weeks prior to the           
publication of interim reports and financial statements.                        

FINANCIAL INDICATORS                                                            

                                       IFRS     IFRS     IFRS     IFRS     IFRS 
                                   31.12.08 31.12.07 31.12.06 31.12.05 31.12.04 

Net sales, mill.EUR                 1,356.9  1,272.2  1,103.3    976.9    833.7 
Operating profit, mill.EUR             38.4     94.5     41.5     40.2     49.3 
% of net sales                          2.8      7.4      3.8      4.1      5.9 
Financial income                                                                
and expenses, mill.EUR                -22.3    -14.3     -7.3     -3.2     -5.2 
% of net sales                          1.6      1.1      0.6      0.3      0.6 
Profit before tax                      16.7     80.6     34.6     37.8     44.6 
% of net sales                          1.2      6.3      3.1      3.9      5.3 
Return on equity (ROE), %               2.5     17.2      8.8     10.0     13.9 
Return on investment (ROI), %           5.3     15.2      8.7     10.3     13.9 
Equity ratio, %                        38.4     47.6     42.8     43.0     50.9 
Gross investments, mill.EUR           152.6    284.1     89.0    107.3     37.3 
% of net sales                         11.2     22.3      8.1     11.0      4.5 
Interest-bearing liabilities          448.4    321.9    244.2    206.9    116.1 
Debt/equity ratio, %                  103.1     67.6     78.1     75.2     44.6 
Gearing, %                             94.6     60.1     66.8     68.9     39.7 
Average FTE                           6,135    5,947    5,740    4,433    3,638 
R&D costs, mill.EUR                     9.9      8.4      7.4      6.7      7.0 
% of net sales *                        0.7      0.7      0.7      0.7      0.8 
Volume of orders **                        -        -        -        -        -

* Booked in total as expenditure for the financial year.                        
** Not a significant indicator as orders are generally                          
delivered on the day following the order being placed.                          

SHARE-ISSUE ADJUSTED PER-SHARE INDICATORS                                       

                                        IFRS     IFRS     IFRS     IFRS     IFRS
                                    31.12.08 31.12.07 31.12.06 31.12.05 31.12.04

Earnings per share (EPS), EUR           0.42     2.56     1.15     1.24     1.58
Shareholders´ equity per share, EUR    15.34    16.77    13.28    12.08    11.58
Dividend/share, EUR *                   0.20     0.70    0.595    0.595    0.595
Dividend/profit, % *                    48.1     27.4     51.7     48.0     37.7
Effective dividend yield *               1.7      4.0      3.3      3.3      5.3
Price/earnings (P/E)                    27.9      6.8     15.9     14.5      7.2
Market capitalisation, mill.EUR        327.9    490.4    422.4    379.5    238.3
Share turnover/1000 shares       A     4,077    7,933    3,899    5,704    3,800
Share turnover, %                A      21.4     41.6     28.1     48.0     32.0
Number of shares, million, total        28.3     28.3     23.1     21.1     21.1
Number of shares                 A      19.1     19.1     13.9     11.9     11.9
Number of shares               KII       9.2      9.2      9.2      9.2      9.2
Share issue-adjusted average                                                    
number of shares                        28.3     26.1     21.8     21.1     21.1
Share issue-adjusted number                                                     
of shares on 31.12.                     28.3     28.3     23.1     21.1     21.1

SHARE PRICE DEVELOPMENT                                                         

Lowest of period                 A     10.51    16.90    15.00    11.50     8.55
Highest of period                A     18.29    28.77    21.50    18.18    11.75
At end of period                 A     11.60    17.35    18.29    17.99    11.30
Average price during period      A     14.04    22.18    18.31    15.33     9.42

* Proposal from the Board of Directors                                          

ATRIA PLC                                                                       

CONSOLIDATED BALANCE SHEET                                                      

mill. EUR                                    31.12.08                   31.12.07

Non-current assets                                                              
 Property, plant                                                                
 and equipment                                  493.5                      455.6
 Goodwill                                       151.1                      151.8
 Other intangible assets                         70.5                       64.3
 Loan assets and other receivables               16.2                       12.7
 Investments                                      8.2                        8.7
Total                                           739.5                      693.1

Current assets                                                                  
 Inventories                                    113.3                       87.3
 Trade and other receivables                    233.3                      184.7
 Cash in hand and at bank                        37.1                       35.6
Total                                           383.7                      307.6

Non-current assets held for sale                 11.3                           

Total assets                                  1,134.5                    1,000.7

Equity and liabilities                                                          
mill. EUR                                    31.12.08                   31.12.07

 Equity belonging to the shareholders                                           
 of the parent company                          433.5                      474.1
 Minority interest                                1.4                        1.9
Total equity                                    434.9                      476.0

Non-current liabilities                                                         
 Interest-bearing financial liabilities         320.8                      194.1
 Deferred tax liabilities                        42.4                       42.8
 Other non-interest-bearing liabilities           0.2                        0.3
 Total                                          363.4                      237.2

Current liabilities                                                             
 Interest-bearing financial liabilities         127.6                      127.8
 Trade and other payables                       208.6                      159.7
Total                                           336.2                      287.5

Total liabilities                               699.6                      524.7

Total equity and liabilities                  1,134.5                    1,000.7

CONSOLIDATED INCOME STATEMENT                                                   

mill. EUR                           10-12/08 10-12/07           1-12/08  1-12/07

Net sales                              361.1    337.1           1,356.9  1,272.2
Expenses                              -345.7   -313.0          -1,271.0 -1,133.2
Depreciations                          -11.6    -10.9             -47.5    -44.5

Operating profit                         3.8     13.2              38.4     94.5
* % of Net sales                         1.1      3.9               2.8      7.4

Financial income and                                                            
expenses                               -12.2     -2.2             -22.3    -14.3
Income from associates                            0.3               0.6      0.4

Profit before tax                       -8.4     11.3              16.7     80.6
* % of Net sales                        -2.3      3.4               1.2      6.3

Income taxes                             2.2     -3.2              -5.3    -13.0

Profit for the period                   -6.2      8.1              11.4     67.6
* % of Net sales                        -1.7      2.4               0.8      5.3

Profit distribution for                                                         
the accounting period:                                                          
To parent company                                                               
shareholders                            -5.9      8.1              11.8     66.7
To minority shares                      -0.3                       -0.4      0.9
Total                                   -6.2      8.1              11.4     67.6

Basic earnings/share, €                -0.21     0.28              0.42     2.56

earnings/share, €                      -0.21     0.28              0.42     2.56

CALCULATION OF CHANGES IN SHAREHOLDERS' EQUITY                                  

mill. EUR   Equity belonging to the shareholders of the parent     Mino Share   
            company                                                rity holders 
                                                                   inte equity  
                                                                   rest in total
            Share    Share   Fair  Inv.   Trans  Retained  Total                
            capital  premium value non-   lation earnings                       
                             fond  rest.  diff.                                 

1.1.2007      39.3   138.5                  0.7   128.1   306.6     5.8    312.4
differences                                -4.2            -4.2    -0.1     -4.3
Other changes                  1.9    0.3                   2.2    -4.7     -2.5
Profit for                                                                      
the period                                         66.7    66.7     0.9     67.6
of dividends                                      -13.7   -13.7            -13.7
Share issue    8.8                  110.2          -2.5   116.5            116.5

31.12.2007    48.1    138.5    1.9  110.5   -3.5  178.6   474.1     1.9    476.0

differences                                -30.0          -30.0    -0.1    -30.1
Other changes                 -1.8   -0.2                  -2.0             -2.0
shares                                             -0.5    -0.5             -0.5
Profit for                                                                      
the period                                         11.7    11.7    -0.4     11.3
of dividends                                      -19.8   -19.8            -19.8

31.12.2008   48.1    138.5     0.1  110.3  -33.5  170.0   433.5     1.4    434.9

CASH FLOW STATEMENT                                                             

mill. EUR                                     1-12/08                    1-12/07

Cash flow from operating activities                                             
 Operating activities                            69.9                       91.4
 Financial items                                                                
 and taxes                                      -32.3                      -28.4
Cash flow from operating activities,                                            
total                                            37.6                       63.0

Cash flow from investing activities                                             
 Tangible and intangible assets                 -65.5                      -92.2
 Investments                                      3.6                       -0.4
 Sold shares in subsidiaries                                                39.1
 Bought shares in subsidiaries                  -41.3                     -124.6
Cash flow from investing activities,                                            
total                                          -103.2                     -178.1
Cash flow from financing activities                                             
 Cash share issue                                                          116.5
 Loans drawn down                               171.7                      304.1
 Loans repaid                                   -86.0                     -292.1
 Dividends paid                                 -19.8                      -13.7
 Acquired treasury shares                        -0.9                           
Cash flow from financing,                                                       
total                                            65.0                      114.8

Change in liquid funds                           -0.6                       -0.3

SEGMENT-SPECIFIC INFORMATION                                                    


mill. EUR                  10-12/08 10-12/07  1-12/08        %  1-12/07        %

Net Sales                                                                       
 Finland                      206.2    203.9    797.9     58.8    749.6     58.9
 Scandinavia                  112.4    116.0    455.2     33.5    457.8     36.0
 Russia                        35.5     16.9     93.8      6.9     65.6      5.2
 Baltic                        10.8      6.1     32.3      2.4     26.7      2.1
 Eliminations                  -3.8     -5.8    -22.3     -1.6    -27.5     -2.2
Total                         361.1    337.1  1,356.9    100.0  1,272.2    100.0

 Finland                       11.8      9.9     33.9     88.3     43.2     45.7
 Scandinavia                   -1.2      5.5     14.4     37.5     54.9     58.1
 Russia                        -5.7      0.5     -3.4     -8.9      4.3      4.6
 Baltic                        -0.7     -1.4     -3.8     -9.9     -4.4     -4.7
 Unallocated                   -0.4     -1.3     -2.7     -7.0     -3.5     -3.7
Total                           3.8     13.2     38.4    100.0     94.5    100.0

Operative EBIT                                                                  
 Finland                       11.8      9.9     34.4     86.2     43.2     70.4
 Scandinavia                   -1.2      5.9     15.4     38.6     20.5     33.4
 Russia                        -5.7      0.5     -3.4     -8.5      4.3      7.0
 Baltic                        -0.7     -1.3     -3.8     -9.5     -3.1     -5.0
 Unallocated                   -0.4     -1.3     -2.7     -6.8     -3.5     -5.7
Total                           3.8     13.7     39.9    100.0     61.4    100.0

 Finland                                         23.8     15.6     28.6     10.1
 Scandinavia                                     41.8     27.4    213.9     75.3
 Russia                                          68.6     45.0     33.0     11.6
 Baltic                                          18.4     12.1      8.6      3.0
Total                                           152.6    100.0    284.1    100.0

mill. EUR                                    31.12.08        % 31.12.07        %

 Finland                                        533.5     47.0    509.9     51.0
 Scandinavia                                    368.5     32.5    373.4     37.3
 Russia                                         187.2     16.5     78.7      7.9
 Baltic                                          68.6      6.0     48.1      4.8
 Eliminations                                   -23.3     -2.1     -9.4     -0.9
Total                                         1,134.5    100.0  1,000.7    100.0

 Finland                                        263.7     37.7    186.5     35.5
 Scandinavia                                    268.3     38.4    259.8     49.5
 Russia                                         144.1     20.6     54.4     10.4
 Baltic                                          44.3      6.3     34.1      6.5
 Eliminations                                   -20.8     -3.0    -10.1     -1.9
Total                                           699.6    100.0    524.7    100.0

ACQUIRED OPERATIONS                                                             

                                        Acquisition      Ownership     Domicile 
                                        date             share, %               

AB Ridderheim & Grönvall                1.7.2008            100        Sweden   

   Ridderheims Delikatesser AB                              100        Sweden   
   Smakfabriken i Göterborg AB                              100        Sweden   
   KB Joddlaren                                             100        Sweden   

Ridderheims Delikatesser i Norge AS     1.7.2008            100        Norway   

Atria Scandinavia's strategy is to focus on products with a higher degree of    
processing. The acquisition of Ridderheims supports this strategy. The          
acquisition strengthens Atria's position in the fresh delicatessen products     
market, which is currently one of the fastest growing segments in the consumer  
goods retail trade.                                                             

Established in 1987, AB Ridderheims Delikatesser's product selection includes   
beer sausages, hams, cheese, canned foods and tapas ingredients. Ridderheims is 
a strong, well-known and innovative brand in the industry. The company operates 
in Gothenburg and employs a staff of 110.                                       

The aim is to merge the product selections of Ridderheims and Falbygdens Ost    
into Atria Deli. The merger will create the finest and most comprehensive range 
of fresh delicatessen products in the Nordic countries and improve the position 
of both companies in export markets. Ridderheims currently exports its products 
to eleven countries. The merger will allow it to further increase its sales in  
Sweden and step up its exports, as Atria has a strong position and network of   
distributors in Finland, Denmark, the Baltic countries and Russia.              

At the same time, Ridderheims' distribution network will enable Falbygdens Ost  
to export more of its products.                                                 

Furthermore, the acquisition will generate savings, as the manufacture of       
products which Ridderheims used to buy from subcontractors is transferred to    
Atria's plants.                                                                 

Ridderheims' net sales for the previous accounting period were EUR 54.4 million 
and EBIT EUR 1.9 million.                                                       

                                           Fair          current                
                                           value         book value             
Property, plant and                                                             
equipment                                    5.9             5.9                
Goodwill                                    13.9                                
Other intangible assets                      8.1                                
Investments                                  0.1             0.1                
Inventories                                  3.0             3.0                
Receivables                                  5.5             5.6                
Cash and cash equivalents                    2.6             2.6                
Total assets                                39.1            17.2                

Deferred tax liabilities                     3.7             1.4                
Interest-bearing financial liabilities       2.7             2.7                
Other liabilities                            7.0             7.0                
Total liabilities                           13.4            11.1                

Net assets                                  25.7             6.1                

Purchase price                              25.7                                
Cash and cash equivalents of acquired                                           
company                                      2.6                                

Effect on cash flow                         23.1                                

                                       Acquisition       Ownership    Domicile  
                                       date              share, %               
AS Vastse-Kuuste Lihätööstus           1.8.2008            100        Estonia   
AS Woro Kommerts                       1.8.2008            100        Estonia   

AS Vastse-Kuuste Lihatööstus manufactures a range of cold cuts, sausages, dried 
sausages and consumer-packed meat. The company has its own slaughterhouse and   
cutting plant. Founded in 1994, Vastse-Kuuste reported net sales of EUR 8.8     
million in 2007. Its total market share in terms of value is 6 % (Source: AC    
Nielsen 2008), and it employs approximately 140 persons. Over the past few      
years, Vastse-Kuuste has invested in the modernisation and capacity improvement 
of its production plant. Its market position has also strengthened due to the   
new investments. The company has a particularly strong position in cold cuts in 
the Estonian market. The production plant is located in southern Estonia,in     

Established in 1993, AS Woro Kommerts is a company specialising in the          
production of meat products. Woro's product selection includes smoked sausages  
and meat products, raw sausages, grill sausages and frankfurters. The company's 
total market share in terms of value is 13 % (Source: AC Nielsen 2008), which   
makes it Estonia's second largest meat processing company. In recent years, Woro
has invested actively in the improvement of product quality and brand           
development. In 2007, it posted net sales of EUR 9.9 million and employed some  
170 staff. The company has a production plant in Ahja, near Tartu and a         
distribution centre in Tartu. Built at the turn of the millennium, the          
production plant boasts modern production machinery.                            

Through these acquisitions, Atria will complement and expand its current product
selection for retail customers in Estonia. Combined with the operations of Woro 
and Vastse-Kuuste, AS Valga Lihatööstus is the second largest player in the     
Estonian meat processing market, with net sales of approximately EUR 42 million.
The merger will generate significant synergies and help establish a firmer      
foothold in the market.                                                         

The companies' net sales for the previous accounting period were EUR 18.7       
million and EBIT EUR 0.9 million.                                               
                                           Fair           current               
                                           value          book value            

Property, plant and                                                             
equipment                                    4.8             4.8                
Goodwill                                     6.2                                
Other intangible assets                      3.6                                
Inventories                                  1.1             1.1                
Receivables                                  2.0             2.0                
Cash and cash equivalents                    2.6             2.6                
Total assets                                20.3            10.5                

Deferred tax liabilities                     0.8                                
Interest-bearing financial liabilities       1.1             1.1                
Other liabilities                            2.9             2.9                
Total liabilities                            4.8             4.0                

Net assets                                  15.5             6.5                

Purchase price                              15.5                                
Cash and cash equivalents of acquired                                           
company                                      2.6                                
Effect on cash flow                         12.9                                

                                      Acquisition       Ownership    Domicile   
                                      date              share, %                

OOO MPZ CampoMos                      15.10.2008            100      Russia     

   OOO CampoFerma                                           100      Russia     
   OOO CampoFoods St. Petersburg                            100      Russia     
   OOO CampoFoods Moscow                                    100      Russia     

Atria expanded its operations in Russia by acquiring the meat processing company
OOO MPZ CampoMos operating in the Moscow and St Petersburg regions. The main    
products of Campomos include meat products and pizzas. It is also planning to   
add consumer-packed meat to its product portfolio. Campomos has a production    
plant and logistics centre in Moscow and a distribution terminal in St          
Petersburg. In addition, it boasts a new pork breeding facility with 2,500 sows.
The main market of Campomos is Moscow, but it is also well-established in St    
Petersburg and some other major cities. In 2007,Campomos reported net sales of  
around EUR 75 million. After the positive development of earnings in the early  
2000s, the company's performance has ebbed and it has been in the red in recent 
years. The company's production equipment is modern and well maintained.        

Through the acquisition of Campomos, Atria will obtain a significant share of   
modern retail trade in the Moscow region and strengthen its market leadership in
St Petersburg. Founded in 1989, Campomos employs some 1,000 staff. More than    
half of its sales are generated in the Moscow region and the rest in St         
Petersburg and other major cities. Campomos was the subsidiary of Campofrio     
Alimentacion S.A., a Spanish publicly quoted company. It was the first meat     
processing company established in Russia.                                       

The company's main brand is KampoMos, which is widely known in Russia. The      
KampoMos frankfurters, in particular, are a well-known product. The company also
offers a variety of premium-class meat products. In recent years, Campomos has  
diversified into convenience foods and service desk products.                   

A customer base of over 17 million people in the Moscow region and the rapid    
growth of modern retail trade combined with the well-known, high-quality        
products of Campomos and its excellent position in modern retail trade will help
Atria establish a firm foothold in the rapidly growing Moscow market.           

                                           Fair          current                
                                           value         book value             

Property, plant and                                                             
equipment                                   44.0           44.0                 
Goodwill                                     0.3            1.3                 
Other intangible assets                      2.4            1.9                 
Inventories                                 13.6           13.6                 
Trade receivables                           15.4           15.4                 
Other receivables                           15.9           15.9                 
Cash and cash equivalents                    1.0            1.0                 
Total assets                                92.6           93.1                 

Deferred tax liabilities                     1.0            0.6                 
Interest-bearing financial liabilities      51.7           51.7                 
Other liabilities                           33.6           33.6                 
Total liabilities                           86.3           85.9                 

Net assets                                   6.3            7.2                 

Purchase price                               6.3                                
Cash and cash equivalents of acquired        1.0                                
Effect on cash flow                          5.3                                

CONTINGENT LIABILITIES                                                          

mill. EUR                                              31.12.08         31.12.07

Debts with mortgages or other collateral                                        
given as security                                                               
 Loans from financial institutions                          9.6             13.5
 Pension fund loans                                         3.9              4.6
Total                                                      13.5             18.1

Mortgages and other securities given as                                         
comprehensive security                                                          
 Real estate mortgages                                      6.7             22.0
 Corporate mortgages                                        7.9              2.2

Total                                                      14.6             24.2

Guarantee engagements not included                                              
in the balance sheet                                                            

Guarantees                                                 0.9              0.9 

The figures of the financial statement release are unaudited.                   

ATRIA PLC                                                                       
Board of Directors                                                              

For further information, please contact Matti Tikkakoski, President and CEO,    
tel. +358 50 2582.                                                              

Nasdaq OMX Helsinki Ltd                                                         
Principal media                                                                                                                            

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