Atria raised its adjusted EBIT guidance and now expects growing earnings in 2024 (earlier: adjusted EBIT to decline in 2024 from EUR 49.6m in 2023). Positive profit warning is due to good EBIT development in all business areas. In addition, the new poultry unit has been put into operation successfully. LSEG consensus has modelled EUR 51m adjusted EBIT in 2024E (+3%) while we have anticipated EUR 52.5m (+6%). Hence, guidance raise is not a big surprise, while we note successful commissioning of the new poultry unit which lowers risk going forward and enables cost-efficient production and business expansion. We believe consensus to take up its estimates by some 5% for 2024E-26E. For Q2E, due on 18 July, we have been fairly in line with consensus while we note positive EBIT development comments for all business areas (we have anticipated y/y decline in Finland adjusted EBIT).
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