Atria reported Q2 adjusted EBIT of EUR 13.8m versus our estimate of EUR 2.7m (Refinitiv consensus EUR 10.6m). Q2 net sales of EUR 432m were up 12% y/y and came 5% above our estimate. Adjusted EBIT increased in Finland and Sweden. The company has been successful in pricing actions and sales structure has been more favourable with recovery of foodservice channel. Export sales declined y/y. Producer prices paid by Atria have increased some 30% y/y and the company has done more price increases after the review period.
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