HKFoods Plc Stock Exchange Release, 26 September 2025, at 2 p.m. EEST
MARJA, ensin tuon balttialaisen Gruppin nimen osana oleva AS on nimen edessä,
toisessa sitä ei ole lainkaan ja kolmannessa AS on nimen perässä. Jos tämä oli
tarkoituksella näin, sitten on enkkukin ok.
HKFoods sold its Baltic operations to Estonian AS Maag Grupp on 31 August 2023.
The debt-free purchase price was EUR 90 million, of which EUR 20 million is
conditional on the combined performance of the separately defined meat business
subject to the transaction and Maag Grupp's Baltic meat business over the next
three years. Of the EUR 70 million fixed purchase price, EUR 55 million was paid
at the closing of the transaction and the remainder in 2024 and 2025.
As announced in HKFoods' Half Year Financial Report published on 6 August 2025,
the fair value of the conditional purchase price was determined to be EUR 6.9
million at the end of June 2025.
At the end of August 2025, African swine fever (ASF) was detected in Maag Grupp
AS's largest pork production unit. The animal disease outbreak is expected to
have a significant and long-term negative impact on the company's performance,
which is the basis for calculating the conditional purchase price. HKFoods'
management now estimates that the receipt of the conditional purchase price will
not materialise, for which reason a write-down of EUR 6.9 million will be made
in the third quarter of 2025. After the write-down, there will be no conditional
purchase price receivable on the Group's balance sheet. The write-down will not
affect the comparable EBIT and will have no impact on cash flow. The write-down
will be reported as a result of discontinued operations.
HKFoods Plc
Juha Ruohola
CEO
Further information
Juha Ruohola, CEO, tel. +358400647 160
HKFoods Media Service Desk, tel. +358 10570 5700 or communications@hkfoods.com.
With 110 years of experience, we at HKFoods make life tastier - today and
tomorrow. With 3,000 professionals, we make responsible and locally produced
food to meet consumers' varied food moments. Our well-known brands in Finland
are HK®, Kariniemen® and Via®.We are developing a more climate-friendly way of
producing food. HKFoods is a publicly listed company, and in 2024, our net sales
totalled EUR 1 billion. www.hkfoods.com (https://www.hkfoods.com/en/)
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