Apetit

Q3 was broadly in line with expectations. Our operational earnings estimates increased slightly, driven by Oilseed Products.

In our view, the earnings release does not convey major revisions in the company's outlook compared to previous expectations.

We expect the Q3 operating profit to be slightly below the strong comparison period.

Although the purchase price is low compared to the balance sheet value, a turnaround in earnings cannot be seen as a given

Apetit strengthens its position in the Nordic markets by acquiring Foodhills AB, Sweden's largest producer of frozen peas.

The company has actively invested in value-added products in recent years.

The availability of raw materials for Oilseed Products will be significantly better at the end of the year than in the beginning of the year.

Industrial actions and the price volatility of Oilseed Products' raw materials weighed on the result.