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Asia: First ASF case in Finland will impact export opportunities - Nordea

ATRAVThird party research31.07.2026, 08.29
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This is a third party research report and does not necessarily reflect our views or values

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Based on its preliminary results, Finnish Food Authority has found African Swine Fever (ASF) in Finland from a wild boar. This is the first ever case in Finland and will likely impact export opportunities to, especially Asia. For Atria, ASF could pause exports to China which has been important market for parts that are not used in Europe (e.g. pigtails and ears). Export sales from Finland have been roughly EUR 100m, of which China likely around one fourth, we believe. Initially, EBIT impact could be some low single million. Atria is guiding for increasing adjusted EBIT in 2026 after EUR 69.9m in 2025 while we model EUR 74.3m. Hence, we believe the company can meet its guidance but risks have increased.