Annual report
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A TRIA ’S YEAR 2025 ATRIA ’S YEAR 2025 GOVERNANCE 2025BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025
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Atria launched 208 new products p. 50 Atria announced its new strategy for 2025–2030: p. 17 Atria is investing over 80 million euros in the modernisation and energy efficiency of its convenience food production p. 21 CONTENTS ATR IA 2025 ........................................... 3 Atria in brief ................................................................4 CEO’s review ................................................................6 Financial development ...............................................8 Highlights of the year ...............................................10 Atria’s value chain .....................................................12 ATRIA’S DIRECTION .............................13 Food market trends ..................................................14 Consumer behaviour ................................................15 Strategy .......................................................................17 Sustainability as a part of strategy .........................24 Atria as an employer .................................................27 BUSINESS AREAS ............................... 29 Atria Finland .............................................................31 Atria Sweden ..............................................................37 Atria Denmark & Estonia ........................................41 RESEARCH AND DEVELOPMENT ........48 INVESTOR INFORMA TION ....................51 Atria as an investment..............................................52 Contacts ......................................................................56 This part of the Annual Report in PDF format is not an xHTML document compliant with the ESEF (European Single Electronic Format) regulation. The Board of Directors’ report, Sustainability Statement and Financial Statements 2025 in accordance with ESEF regulations are available electronically as an xHTML document in Finnish language at atria.com/sijoittajat/taloustieto/vuosikertomukset Atria’s Annual Report 2025 consists of three parts: Atria’s year 2025 Governance 2025 Board of Directors’ Report, Sustainability Statement and Financial Statements 2025 ATR IA .COM All parts are found on Atria’s website:
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A TRIA 2025 CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts ATRIA ’S YEAR 2025 3ATRIA 2025
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Pietarsaari Seinäjoki/Nurmo A TRIA IN BRIEF Atria is one of the leading food companies in Northern Europe. We are a company established in 1903 and valued by our customers, personnel and owners. Atria was listed on the Helsinki Stock Exchange in 1991. WINNING NORTHERN EUROPEAN FOOD COMP ANY We have been producing food for people for 120 years and want to keep doing so. That is why we act with respect for the envi- ronment, society, people and food. In 2025, Atria announced its new strategy for 2025–2030. The name of the strategy is TOGETHER 2030. The new strategy highlights the importance of working together to achieve our vision – to be the Winning Northern European Food Company. Atria’s strategy focuses on ensuring the competitiveness of our core business, allocating investments and resources to rapidly growing product categories, increasing cross-border cooperation to exploit economies of scale and renewing ourselves to meet future needs. Our main product, Good Food, creates a better mood and sustainable value for all our stakeholders. In 2025, our net sales were EUR 1,813.7 million, and Atria employed 3,785 food pro- fessionals in Finland, Sweden, Denmark and Estonia. The key element of Atria’s good competitiveness and profitable growth is the company’s strong market position in various busi- ness areas and strong local organisations. In the main product categories we represent, we are the market leader or a strong second. Atria’s position in the market is also strengthened by its valued brands. Atria Finland’s leading brand is Atria, one of the best- known and most valuable food brands in Finland. In Sweden, Atria’s best-known brands are Lönneberga, Sibylla, Lithells, Ridderheims and Gooh!. In Denmark, Atria produces cold cuts under the 3-Stjernet and Aalbaek brands. In Estonia, Atria’s Maks & Moorits meat products were voted Estonia’s best- known meat product brand. Sustainable business is an integral part of Atria’s strategy, business and daily work. It covers the entire value chain – from family farms to dining tables. It means taking environmental and social issues into account and promoting them in ever closer cooperation with our supply chain partners and customers. Atria wants to enable consumers and customers to make sustainable choices and promote the wellbeing of the environment and people. Atria has production plants in Finland, Sweden, Denmark and Estonia. In addition, Atria exports its products to 25 countries. The main export countries are South Korea, Denmark, China, Sweden, the Baltic countries and Japan. CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts 4ATRIA 2025 ATRIA ’S YEAR 2025
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KEY FIGURES NET SALES, EUR MILLION NUMBER OF NEW PRODUCTS EXPORTS TO SCOPE 1 & 2 EMISSIONS REDUCED FROM 2020 LEVEL 1,813. 7 208 25 28.5% 69.9 0.75 10 3 ,785 3,800 100% ADJUSTED EBIT, EUR MILLION DIVIDEND PER SHARE, TOTAL * ACCIDENT FREQUENCY RATE PERSONNEL, FTE NUMBER OF ATRIA’S CONTRACT FARMS THE SHARE OF DOMESTIC MEA T IN FINLAND (2024: EUR 1,755.4 million) (213) countries (25) (0.69) *Board proposal to the Annual General Meeting (EUR 65.4 million) (14) (3,864) NET SALES BY BUSINESS AREA, EUR MILLION PERSONNEL BY BUSINESS AREA, FTE 1,319.6 2,463 880 442 392. 7 124.8 Atria Finland Atria Finland Atria Sweden Atria Sweden Atria Denmark & Estonia Atria Denmark & Estonia CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts 5ATRIA 2025 ATRIA ’S YEAR 2025
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A record-breaking year despite challenges – together The year 2025 was exceptionally strong for Atria. We started the year from an excellent position: we had the highest adjusted operating profit in the company’s history, a strengthened return on equity and a healthy financial position. However, we knew that the market environment was going to be challenging and prepared ourselves for several risks such as eco- nomic and geopolitical uncertainties, the erosion of consumer confidence, the effects of changes in nutrition recommendations, labour market disturbances, tariff changes, and animal diseases. Most of the risks materialised, but we still achieved a historically good result. Systematic development driving growth and profitability The Group’s net sales grew by nearly EUR 60 million from the previous year. Although the early part of the year was chal- lenging, demand picked up significantly in the third quarter. The performance of Atria Sweden was particularly strong, driving the general improvement in performance. Sales growth, successful commercial measures and the strong performance of Gooh! convenience food products significantly increased Atria Sweden’s net sales and profit. Projects carried out as part of the Profitable Growth Plan programme have produced significant and measurable results. Atria Finland’s development took a positive turn despite the difficult start of the year. Atria Finland has been able to signifi- cantly improve the efficiency of its poultry production thanks to the new plant and the centralisation of production, which was reflected in an improved result compared with the previous year. Atria Estonia faced production challenges due to African swine fever, but the strong Maks & Moorits brand, successful market- ing, and growth in retail sales strengthened its market share and net sales. The efficiency measures implemented at Atria Denmark strengthened the result, improved productivity and increased financial sustainability. During the year, we also made progress in many strategic invest- ment projects. The Convenience Food Factory of the Future in Nurmo proceeded as planned, representing a total investment of approximately EUR 110 million. In addition, the EUR 16 million modernisation project in Kauhajoki and the EUR 23 million investment in meat products in Sköllersta in Sweden will strengthen our long-term competitiveness and support our strategic priorities: optimising our core business and accelerating growth. Investments accelerate emissions reductions Reducing greenhouse gas emissions is a key element of our sustainability work throughout the food chain. In 2025, we made significant progress, especially in improving energy quality and efficiency in our own operations. The solutions related to the energy efficiency of the Nurmo convenience food factory, as well as the green transition support received, demonstrate that com- petitiveness and the reduction of climate impact can go hand in hand successfully. Investments made during the year – such as in heat recovery at the poultry plant and electric boiler solutions – support energy efficiency and emissions reductions in the long term. In the supply chain, we focused on reducing emissions from primary production by developing the carbon footprint calculation of beef, pork and poultry production, as well as increasing the use of domestically produced proteins in feed. The bioenergy co - operation in Nurmo and the biogas plant under preparation are key solutions that enable emissions reductions at the farm level. CONTINUED → CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts 6ATRIA ’S YEAR 2025ATRIA 2025
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New strategy: TOGETHER 2030 One of our most significant achievements during the year under review was the development and publication of our new strategy. The strategy work was carried out in close cooperation with the management teams and personnel in our countries of operation to ensure that the final result truly reflects the views of the entire Atria community. Our new strategy TOGETHER 2030 is built on a strong founda- tion, and its core is crystallised in four key strategic actions: 1. Grow and Optimise Core Business 2. Accelerate Development in Growing Categories (Poultry and Convenience Foods) 3. Collaborate to Grow and Scale Our Operations 4. Renew for the Future W e invest in people, competence development and communication As the name of our strategy, TOGETHER 2030, indicates, people and working together are at the heart of our operations and Atria’s key strength. I am therefore glad that employee engage- ment was particularly high in 2025: the response rate to the personnel survey went up considerably, brand recommendation reached 85 percent, and the engagement index improved signif- icantly. This shows that our employees are willing to build Atria together and have faith in our shared direction. We continue to invest in competence development. The Atria Growth Engine programme, which focuses on developing inno- vation competence, and the Pathfinder programme on artificial intelligence are examples of how we are building new capabilities in all our operating countries and at all organisational levels. Commercial AI-related tools and the development of product- category management also offer tangible support to our next growth leaps. Strengthening communication has also been an important part of strategy implementation. During the autumn, we have been active in various channels, and the results are clear: our reputa- tion improved to the highest level in recorded history, and brand images have strengthened. This builds trust among customers, producers and investors alike. It has been encouraging to note that Atria is seen as a stronger player in all our markets. T owards a stronger , more sustainable and unified Atria The year 2026 is the first year when the new strategy will be put into practice. We are building on a strong foundation and are making determined progress in strategic projects. The direction is clear, and our goal is to produce good food every day while building a stronger, more sustainable and more unified Atria. I would like to warmly thank all Atria employees, customers, producers, partners and investors for their cooperation and trust. We will continue our work to produce good food this year – together. Good food – better mood. 7ATRIA 2025 ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts KAI G YLLSTRÖM CEO
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FINANCIAL DEVELOPMENT 2025 2024 Net sales 1,813.7 1,755.4 EBIT 64.0 66.4 EBIT, % 3.5 3.8 Adjusted EBIT * 69.9 65.4 Adjusted EBIT, % * 3.9 3.7 Balance sheet total 999.4 984.8 Adjusted return on equity, % * 11.0 10.1 Equity ratio, % 45.7 43.2 Net gearing, % 48.1 61.8 * EBIT adjustment items 2025 totalled -5.9 EUR million (+1.0 EUR million). 8 2021 2022 2023 2024 2025 7 6 5 4 3 0 GROSS INVESTMENTS, % OF NET SALES 2 1 3.6 7.7 6.3 2.3 3.0 2,000 2021 2022 2023 2024 2025 1,800 1,600 1,400 1,200 1,000 0 NET SALES, EUR MILLION 800 400 600 200 1,697 1,540 1,753 1,755 1,814 75 2021 2022 2023 2024 2025 70 65 60 55 50 0 ADJUSTED EBIT, EUR MILLION AND % OF NET SALESATRIA GROUP’S KEY INDICATORS, EUR MILLION 45 35 40 30 25 20 15 10 5 5.0 4.0 3.0 2.0 1.0 0 49.2 49.0 49.6 65.4 69.9 3 .7 3.9 1.8 2021 2022 2023 2024 2025 1.6 1.4 1.2 1.0 0.8 0.0 ADJUSTED EPS, EUR 0.6 0.4 0.2 1.27 1.43 0.98 1.38 1.61 50 2021 2022 2023 2024 2025 40 30 20 10 0 EQUITY RATIO, % 4 8 .7 44.9 41.7 43.2 4 5 .7 % EUREUR million EUR million % % 8ATRIA 2025 ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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12 2021 2022 2023 2024 2025 10 8 6 4 2 0 ADJUSTED RETURN ON EQUITY (ROE), % 300 2021 2022 2023 2024 2025 250 200 150 100 50 NET DEBT, EUR MILLION 152.6 234. 7 27 4.2 261.8 2 18 .7 8.2 8.9 7. 3 10.1 11.0 4,500 2021 2022 2023 2024 2025 4,000 3,500 3,000 2,500 2,000 500 PERSONNEL A VERAGE FTE 1,500 1,000 3 ,711 3,698 3,898 3,864 3 ,785 18 2021 2022 2023 2024 2025 16 14 12 10 8 ACCIDENT FREQUENCY RATE 0 6 4 2 14 16 14 10 12 100 2022 2023 2024 2025 80 60 40 20 0 ATRIA GROUP’S CARBON FOOTPRINT, TONNES CO 2e Scope 2 Scope 1 Target The calculation of the Group’s greenhouse gas emissions is based on the international GHG protocol (Greenhouse Gas Protocol). The calculation covers greenhouse gas emissions from Atria’s industrial production process in companies of which Atria owns more than 50 percent, in line with Scope 1 and Scope 2. Scope 1 (red) covers direct emissions from energy sources that are owned or controlled by the reporting company, and that are used for heating and production, for example. Scope 2 (yellow) covers indirect emissions from purchased electricity, steam and heat production, and from cooling. Scope 2 reporting is based on a cost-based calculation method and employs the emission values of known energy sources or the national residual mix. 1,000 tonnes CO2e%EUR million 9ATRIA 2025 ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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HIGHLIGHTS OF THE YEAR JANUARY J U LY JUNE/ AUGUST SEPTEMBER APRIL CHICKEN MEAT EXPORTS TO CHINA BEGAN At the turn of the year, the first deliveries of Atria chicken meat, chicken feet in particular, left for China. The products are transported from Nurmo to Shanghai and further inland to restaurant chains and industrial customers. The export advantage is the purity and high quality of Finnish meat. FUTURE CONVENIENCE FOOD FACTORY TO BE BUILT IN NURMO Atria is investing more than EUR 80 million in the modernisation of its convenience food production in Nurmo and in carbon-free energy solutions. The modernisation enables the development of innovative products, improves energy efficiency and supports Atria’s goal of a carbon neutral food chain. Earthworks began in November, and the new development is expected to be completed in 2028. AFRICAN SWINE FEVER IN ESTONIA Infections of African swine fever were detected at two Atria pig farms in Estonia, one in June and the other in August. The farms were cleaned and disinfected. Meat from the farms is not exported to Finland or Atria’s other operating areas. Thanks to the state compensation scheme in Estonia, the direct financial impacts of the outbreaks on Atria remained limited. ATRIA PUBLISHES ITS NEW TOGETHER 2030 STRATEGY Atria published its new TOGETHER 2030 strategy for 2025–2030. The objective of the new strategy is for Atria to become the Winning Northern European Food Company. The strategy focuses on strengthening the core business, investing in growing product categories, increasing collaboration, and sustainable renewal. Finan- cial targets include net sales of over EUR 2 billion and a return on equity of 12 percent. KATI JANHUNEN APPOINTED AS ATRIA GROUP’S EVP , SUSTAINABILITY Kati Janhunen has been appointed as Atria Group’s Executive Vice President, Sustainability. She will take on the position after Merja Leino’ retirement in the summer of 2026. Kati Janhunen has been a member of Arla Finland’s Management Team. She brings with her solid experience in the development of sustainability and consumer brands. She will also become a member of the Atria Group Management Team. INVESTMENT IN A NEW PANCAKE PRODUCTION LINE Atria Finland is investing EUR 7 million in a new pancake production line to meet growing demand and strengthen its position in the convenience food market. The investment makes it possible to develop the product range and increase production capacity for exports as well. The new line will be commissioned in the summer of 2026. READ MORE READ MORE READ MORE CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts 10ATRIA ’S YEAR 2025ATRIA 2025
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SEPTEMBER OCTOBER DECEMBER NOVEMBER NEW OPERATIONS TO SUPPORT NEW STRATEGY Atria established two new operations, Industrial Oper- ations and Product Export, in support of the new TOGETHER 2030 strategy. Tauno Perälä, in charge of Industrial Operations, and Gustaf Birkoff, in charge of Product Export, were appointed as the leaders of the new operations and members of the Management Team. The aim is to enhance Group-level production and increase exports, as well as Foodservice cooperation. MODERNISATION OF BEEF PRODUCTION IN KAUHAJOKI Atria invests EUR 16 million in the Kauhajoki factory to modernise beef production and to develop processes. The aim is to strengthen the processing of high-quality Finnish beef for domestic and export markets. In addi- tion, the investment will improve production efficiency and competitiveness. ATRIA INVESTS IN PRODUCTION OF MEAT PRODUCTS IN SKÖLLERSTA Atria is investing approximately EUR 23 million in the production of meat products at the Sköllersta plant in Sweden, including a continuously operating new production line, and the expansion and upgrading of the production site. The investment replaces old equipment and improves energy efficiency, product quality and the reliability of deliveries, and enables the production of sausages and the expansion of the product range. ATRIA WINS THE WORLD’S BEST GRASS-FED FILLET COMPETITION At the World Steak Challenge 2025, Atria won the World’s Best Grass-Fed Fillet category, which is yet another testament to the high quality and sustainability of Finnish grass feeding. The victory was the result of coop- eration between Atria and JN Meat International, and the strong professionalism of Finnish family farms. With the new Nurminauta® (Grass-Fed Beef) registered trademark, Atria wants to highlight the animals’ feeding on Finnish grass and the sustainable production methods. SALT CONTENT OF ATRIA PRODUCTS DOWN BY 15 PERCENT Atria reduced the salt content of its products by an average of 15 percent during 2020–2024 as part of comprehensive nutritional responsibility efforts. As a result, more and more products meet the Heart Symbol (Sydänmerkki) criteria. Atria continues to work on developing healthy and tasty food options. ATRIA’S POSITION AS A SUSTAINABLE BRAND STRENGTHENED Atria has risen 28 places in the 2025 Sustainable Brand Index and now ranks 13th in the food industry. The development reflects the strengthening of Atria’s brand as a sustainable and domestic food company. In particular, consumers appreciate Atria’s transparency, nutritional quality and sustainable packaging solutions. READ MORE READ MORE READ MORE 11ATRIA 2025 ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA ’S V ALUE CHAIN RA W MA TERIALS AND OTHER MA TERIALS PRODUCERS AND P ARTNERS RESEARCH AND DEVELOPMENT SHAREHOLDERS AND FINANCIERS CUSTOMERS SOCIETY COMMUNITIES PERSONNEL HUMAN RESOURCES AND DEVELOPMENT A TRIA ’S INDUSTRIAL AND COMMERCIAL OPERA TIONS INT ANGIBLE CAPIT AL PRIMARY PRODUCTION CUSTOMERS CONSUMERS INVESTMENTS FINANCING ENERG Y CONSUMPTION • Meat raw materials: pork, beef, poultry • Other raw materials • Packaging and other materials Purchases from producers, subcontractors and other partners • Total purchases and other expenses: EUR 1,473.5 million Atria Finland – Atria Sweden – Atria Denmark & Estonia Strategy: TOGETHER 2030 Strategic objectives: STRONG FINANCIAL PERFORMANCE | GROWTH AND COLLABORA TION | SUST AINABLE, LONG -TERM RENEW AL In addition to its own research and product development activities, Atria participates in applied research in product and packaging technology, nutrition and environmental efficiency, among other fields • Dividends: EUR 20.8 million • Financial income and expenses: EUR -10.7 million • Sales to consumer product and primary production customers and other revenues: EUR 1,818.2 million • Corporate taxes and social security expenses: EUR 66.0 million Support for public and private organisations and associations, including ones working with children and young people’s physical exercise and competitive sports Industrial and export clients Foodservice Retail • Total salaries and bonuses: EUR 224.9 million • Atria Finland: 2,463 • Atria Sweden: 880 • Atria Denmark & Estonia: 442 • Brands, patents, concepts • Competence • Research and development: EUR 14.8 million • Investments: EUR 54.2 million • Equity and liabilities: EUR 999.4 million • Energy consumption: around 468 GWh, of which renewable sources represent around 30 percent The value chain illustration demonstrates the financial impacts of the different stages of the value chain. The impacts and risks in accordance with the ESRS standards for sustainability reporting are presented in detail in the Sustainability Statement in section ESRS2 General disclosures - Strategy - Strategy, business model and value chain. V ALUE CREA TED BY A TRIA BUSINESS MODEL AND IMP ACTS RESOURCES AND INPUTS 12ATRIA 2025 ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA ’S DIRECTION ATRIA ’S YEAR 2025 13ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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FOOD MARKET TRENDS Healthiness and sustainability Consumers’ awareness of healthy lifestyles and the demand for healthy food are noticeable in the market. For example, fruit and vegetable sales have increased. Easier cooking Demand for easy-to-cook ingredients is increasing, as seen for example in the growing demand for minced meat. Ease Ease is becoming more and more important for consumers, and consumers are increasingly hoping for food that makes everyday life easier. Consumer demand is met by more varied convenience food prepared at stores, for example. Processed food Consumers’ concern about food processing has increased, and particular attention is paid to ultra-processed food. However, ultra-processed food divides opinions, and the concept is not precisely defined. Protein Protein consciousness is increasing. This is related to an increased overall awareness of food content. The discussion is driven by social media influencers who produce exercise-related content. Plant-based proteins vs meat Interest in vegetarianism is an established phenomenon in the 2020s. However, utilising plant proteins as part of diets has not reduced total meat consumption. Meat is also seen as a good source of protein among health-conscious people. ATRIA ’S YEAR 2025 14ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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Moderate market development in a challenging operating environment P ASI LUOST ARINEN Executive Vice President, Marketing & Market Insight The year 2025 began on an economically challenging note. The general economic downtrend and uncertainty were reflected in consumer sentiment across all Atria markets, especially eating out. Although there was no significant change from 2024, the retail trade of consumer goods developed moderately and the sales of our food product categories grew by about 2 percent. In 2025, food prices continued to rise, but inflation was clearly more moderate than in previous years. Price development in Finland, Sweden and Denmark was steady, while inflation was significantly higher in Estonia. Consumers continued to be cautious, and no significant changes were seen in purchasing behaviour. The proportion of private label products remained largely unchanged, and consumers also continued to spend money on more luxurious products. Consumption habits largely continued along the lines of previ- ous years. Demand for poultry and convenience food increased in all markets. This boosted the growth of Atria’s sales in both Finland and Sweden. The year was marked by an exceptional change in the meat market, as a shortage in the supply of beef led to a decrease in beef consumption and, correspondingly, a strong increase in pork consumption. Total meat consumption continued to grow. At the same time, the consumption of plant-based foods, vegetables and fruits increased, which indicates a diversification of the diet without a clear health boom. In Finland, the extensive public debate on nutrition recommendations weakened the demand for meat products, especially cold cuts consumed as sandwich toppings. In the other Nordic countries, no similar effect was seen, and the meat products market remained fairly stable. The development of the restaurant market varied from country to country, especially with regard to dining restaurants. In Sweden, the restaurant market recovered significantly during the year, especially in large cities. In Finland, growth was focused on fast food, with dining restaurants still lagging behind. The role of online food sales remained unchanged or decreased slightly in Finland, Sweden and Estonia, while moderate growth was seen in Denmark. Atria responds to market changes primarily with country- specific productisation and market-based pricing. The new TOGETHER 2030 strategy focuses on poultry, convenience food and on increasing exports of ready-to-eat products. An extensive product and brand portfolio enables flexible responses even in an uncertain market environment. 15ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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MEAT CONSUMPTION IN FINLAND 2025, MILLION KG TOTAL MEAT CONSUMPTION WAS AT LAST YEAR’S LEVEL Chicken consumption increased 2% Beef consumption decreased 5% Pork consumption increased 2% ATRIAN EDUSTAMIEN TUOTERYHMIEN KEHITYS VUONNA 2025 VÄHITTÄISKAUPPAMARKKINASSA ARVOSSA MITATTUNA 1 5 7.1 94.3 174 .7 Pork Beef Poultry A TRIA FINLAND Market develop- ment in value Consumer packed red meat +3.1% Consumer packed poultry +3.0% Sausages and other meat products -1.8% Cold cuts -4.4% Convenience food +1.9% Atria’s product categories, total +0.8% A TRIA SWEDEN Market develop- ment in value Sausages +0.2% Fresh poultry +14.8% Cold cuts +1.0% Fresh convenience food +8.4% Atria’s product categories, total +4.5% A TRIA ESTONIA Market develop- ment in value Fresh meat (excluding poultry) +5.4% Sausages -1.3% Convenience food components +1.2% Marinated meat +2.5% Cold cuts +1.5% Atria’s product categories, total +2.0% A TRIA DENMARK Market develop- ment in value Cold cuts +0.3% 16ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA ’S STRA TEG Y 2025–2030 Atria has over 120 years of tradition, strong economic perfor- mance and skilled, motivated people. Our new strategy is a managed and consistent development path – built on a strong core business and proactive exploitation of future opportunities. Atria announced its new strategy for 2025–2030 in September 2025. Called TOGETHER 2030, the strategy highlights the importance of working together to achieve our vision – to be the winning Northern European Food Company. Our strategy focuses on ensuring the competitiveness of our core business, allocating investments and resources to rapidly growing product categories, increasing cross-border cooperation to exploit economies of scale and to renew ourselves to meet future needs. Atria has clearly defined business areas and strong local organisations: Atria Finland, Atria Sweden, and Atria Denmark & Estonia. VISION & MISSION STRATEGIC TARGETS & KPIS BIG MOVES ENABLERS TOGETHER 2030 WINNING NORTHERN EUROPEAN FOOD COMP ANY GOOD FOOD, BETTER MOOD STRONG FINANCIAL PERFORMANCE GROW & OPTIMIZE OUR CORE ONE A TRIA COMMERCIAL EXCELLENCE EFFICIENC Y , DIGIT AL & AI SAFETY , PEOPLE & COMMUNICA TION ACCELERA TE IN GROWTH CA TEGORIES COLLABORA TE TO GROW RENEW FOR THE FUTURE GROWTH AND COLLABORA TION SUST AINABLE LONG- TERM RENEW AL LEAD KPI: 5% EBIT LEAD KPI: NS >€2BN LEAD KPI: CO2 EMISSIONS VS. 2020: -42% SCOPE 1-2; - 20% SCOPE 3 (PER MEAT KG) 17ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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WE PURSUE OUR OBJECTIVES THROUGH FOUR KEY STRA TEGIC ACTIONS (BIG MOVES) 1. Grow and Optimise Core Business Red and processed meat is a major part of our core business and continues to be a focus during our next strategy period. The objective is to grow organically and optimise our efficiency. 2. Accelerate in Growth Categories Poultry and convenience foods are the fastest growing product categories in our portfolio, and we expect to grow fast in them. We have set ourselves up to seize profitable growth opportunities and will invest relatively more into these categories during our strategy period. 3. Collaborate to Grow and Scale our Operations We have a strong local presence in our four markets. We drive collaboration and scale to become more efficient and get the most from our assets. Areas for increased collaboration include cross-border scale, net revenue management and product exports. 4. Renew for the Future In addition to focusing on growth today, we must continuously renew to secure our future competitiveness. Our renewal focus is on sustainability, being the best partner for owner-producers, developing our unique unified food chain with tech, continuing to develop our healthy food solutions and readiness to expand to alternative proteins. We also empower our people for growth. List of things on which we will not focus: • We will not expand into new “home markets” outside Finland, Sweden, Estonia and Denmark. • We will not leave any of our current main categories. • We will not expand into completely new categories at Group level (such as dairy products). However, we will maintain the ability to produce alternative proteins. • We will not expand into new businesses that are not closely linked to our current core competence, food production. ONE A TRIA CUL TURE COMMERCIAL EXCELLENCE EFFICIENC Y , DIGIT AL & ARTIFICIAL INTELLIGENCE SAFETY , PEOPLE & COMMUNICA TION Strategy enablers Increased cooperation supported by the ONE Atria culture, new functions, systems and goals. Focus on innovation, sales excellence, category improvement and brand management. Improved cost-efficiency and better digital and artificial intelligence capabilities. Safety first and continuous human resources development, and employee wellbeing. More internal and external communication. FINANCIAL T ARGETS ACTUALISED 2025 Net sales > EUR 2 billion EUR 1.8 billion EBIT 5%1) 3.9% of net sales Equity ratio 40% 4 5 .7 % Return on equity 12%1) 11.0% Dividend distribution 50% 1) 2) of the profit for the period 46.6% 1) The figures are presented adjusted for items affecting comparability. 2) The Board of Directors’ proposal for the dividend to be distributed for the financial year 2025 is EUR 0.75. 18ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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TWO NEW FUNCTIONS WILL BE EST ABLISHED WITHIN A TRIA GROUP TO SUPPORT NEW TOGETHER 2030 STRA TEG Y A TRIA AS AN INVESTMENT 1. Atria Group Industrial Operations The objective of the Atria Group Industrial Operations function is to focus on strategic themes and enable the scaling of operational efficiency across country borders. It ensures the functioning of the cross-country scaling model, makes the best expertise available to major investments at Group level and guides the long- term planning of the plant network at Group level. Responsibility for results remains with business areas, and local industrial operations will continue to have operational responsibility, as they do today. 1. Excellent financial performance • Record-high adjusted EBIT • Equity ratio 45.7 percent, adjusted return on equity 11.0 percent 2. Unique products and strong market positions • Consistent success in the World Steak Challenge • Strengths of Finnish meat production: meat grown without antibiotics and a salmonella-free production chain • Unique traceability of family farms with product- specific carbon footprints • Strong brand positions in four business areas: Finland, Sweden, Denmark and Estonia • We are well positioned in the large and fast-growing product categories of poultry and convenience foods. 3. An ambitious and feasible new strategy • Ambitious strategic objectives • Tangible projects support our goals • The new strategy also aims to maintain strong devel- opment outside Finland • We are already well on our way to achieving our goals. 2. Atria Group Product Export The priority of the Atria Group Product Export function, with the business areas, is to promote product exports, as well as to strengthen cross-border Foodservice cooperation to better serve major customers. Responsibility for results remains with business areas, and no changes will be made to local export and Foodservice teams. Strengthening the competitiveness and production efficiency of our core business is at the heart of our TOGETHER 2030 strat- egy. We allocate investments and resources to rapidly growing product categories and deepen cross-border cooperation to take advantage of economies of scale. Our goal is to build new export operations and strengthen cooperation between business areas in export. Tauno Perälä, who is responsible for the Atria Group Industrial Operations function and serves as a member of the Group Management Team, and Gustaf Birkoff, who heads the Atria Group Product Export function, play central roles in the implementation of these strategic priorities. 19ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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STRA TEGIC MEASURES IMPLEMENT A TION 2025 A TRIA GROUP A TRIA FINLAND A TRIA SWEDEN A TRIA DENMARK & ESTONIA GROW AND OPTIMISE CORE BUSINESS • Atria invested approximately EUR 16 million in the modernisation of the Kauhajoki production facility. The investment includes the demolition of old buildings and the construction of new facilities. The investment strengthens the Kauhajoki unit’s ability to produce high-quality Finnish beef for domestic and export markets. • Atria Finland participated in the World’s Steak Challenge, winning in the grass-fed beef category. • Atria invested EUR 23 million in the production of meat products at its plant in Sköllersta, Sweden. The investment includes a new continuously operating production line as well as an expansion and upgrade of the production site in Sköllersta. The investment replaces old production equipment, improves energy efficiency and product quality, and increases the reliability of deliveries. • Implementation of Atria Sweden’s Growth Plan Atria Denmark: • Increase exports and implement the production efficiency improvement plan Atria Estonia: • Strengthen the market-leading position in fresh meat and convenience food categories • Improve operational efficiency in production and supply chain • Enhance product quality and food safety ACCELERA TE IN GROWTH CA TEGORIES • Atria started the construction of the convenience food factory of the future in Nurmo. The investment project on convenience food production includes the renovation of the existing production plant, as well as the replacement of the production process and other technical systems with the most energy-efficient solutions. The energy solutions included in this investment will result in total annual savings of more than EUR 5 million. • In April, Atria launched a EUR 7 million investment in pancake production. Pancakes are one of the most rapidly growing convenience food products in Finland. • Atria Finland announced an investment of more than EUR 80 million in convenience food production and green transition energy solutions at the Nurmo production plant. • The optimisation of the production at Atria’s Nurmo poultry plant, which was commissioned in 2024, continued. • Significant growth in Gooh! sales; Atria remains the market leader with a continuing increase in market share • Growth in fresh poultry sales across both grocery retail and foodservice channels • Lönneberga skewers achieved excellent sales success • Expansion of rearing space used in poultry production Atria Estonia: • Develop and launch innovative products based on consumer trends COLLABORA TE TO GROW • Two new functions will be established within Atria Group to support the new TOGETHER 2030 strategy: Atria Group Industrial Operations and Atria Group Product Export. • Tauno Perälä, MSc (Tech), was appointed as Executive Vice President of Atria Group’s Industrial Operations function and member of the Management Team. • Net Revenue Management pilot launched • Focus on cross-border sales and product exports for the future Atria Estonia: • Strengthen collaboration between internal operations RENEW FOR THE FUTURE • Kati Janhunen was appointed as Atria Group’s EVP , Sustainability, and member of the Group Management Team. Janhunen starts in the position latest at 1 June 2026. • The second Atria Growth Engine training programme was launched at the end of the year. • AI training for Atria Group employees started in the autumn. • Atria Finland has worked with determination to reduce the salt content of its products. More and more products meet the Heart Symbol criteria. During the period 2020–2024, the amount of salt has been reduced by an average of about 15 percent. • During 2025, Atria Finland launched 28 new Heart Symbol products, bringing the total number of Heart Symbol products in the range to 201. • A-Rehu’s new barley feed dryer in Koskenkorva, Ilmajoki, is a true masterpiece of circular economy. The village of Koskenkorva is heated with condensate water from A-Rehu’s dryer. • A two-megawatt solar power park was built near A-Rehu’s Koskenkorva plant. The investment covers approximately 10 percent of the plant’s annual electricity consumption. • The Atria 100 Y oung Chefs and 100 Y oung Producers training programmes run throughout the year. • Sustainability function established • Ongoing investments in energy efficiency at factories • Investment project initiated in Sköllersta sausage production Atria Denmark: • Launch more sustainable poultry products • Implement the WOL (Way of Leading) program Atria Estonia: • Invest in responsible product innovations 20ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA INVESTS OVER EUR 80 MILLION IN THE MODERNISA TION AND GREEN TRANSITION OF THE CONVENIENCE FOOD F ACTORY IN NURMO Atria invests a total of EUR 82.4 million in the modernisation of convenience food production and green transition energy solutions in Nurmo. The investment covers the renovation of the production plant, the introduction of energy-efficient technical systems and the decarbonisation of heat production. The modernisation improves the quality of products, enables the development of innovative convenience foods and utilises the latest technology. The project supports Atria’s ambitious environmental goals and creates a model for a carbon- neutral factory concept. Energy consumption is expected to decrease by approximately 50,000 MWh, or 21 percent of Atria Finland’s consumption, resulting in annual savings of more than EUR 5 million. Over three years, carbon dioxide emissions (Scopes 1 and 2) will be halved through a reduction of 32,000 equivalent tonnes. Business Finland granted a clean transition grant of EUR 24.7 million to the project. CASE 21ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA ’S STRA TEG Y 2021–2025 Atria’s previous strategy period ended in the autumn of 2025. The main objective of the previous strategy period was to accelerate growth and improve profitability. 22ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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Atria 2025: Growth, profitability and investments In 2025, Atria refined its financial targets in accordance with the new Atria TOGETHER 2030 strategy. The Group’s net sales target is now over EUR 2 billion, and the return on equity target was increased to 12 percent from the previous 10 percent. Atria’s financial situation is strong: adjusted operating profit in 2025 was record-breaking, and return on equity exceeded previous targets. Growth in adjusted operating profit was good compared to the previous year. The balance sheet remained strong, and the dividend payment to owners grew steadily – a dividend of EUR 0.60 per share was paid in 2024, while in 2025, the dividend was EUR 0.69 per share. Now the Board of Direc- tors of Atria Plc proposes a dividend of 0.75 euros per share. The equity rate exceeded targets at approximately 45.7 percent, and net gearing remained at a good level. Under the new strate- gic period, the return on equity target was raised to 12 percent. This strategy makes clear choices: it focuses on strengthening and optimising core businesses, and seeks growth in growth categories and through cooperation between the Group’s businesses. Investments are directed at growth and essential maintenance. A significant investment was launched in 2025: a programme worth approximately EUR 110 million in convenience food production in Finland. The programme included an investment of EUR 7 million in thin pancake production, and EUR 82.4 million in convenience food production and related energy solutions. In addition, a maintenance investment of EUR 16 million was launched to renew beef production processes at the Kauhajoki factory. At the end of the year, Atria decided to invest approximately EUR 23 million in meat product production at the Sköllersta plant in Sweden. These investments are intended to streamline operations and improve profitability in the coming years, as well as to drive growth in segments that are important to us. At the end of the year, the average maturity of loans and credit facilities was 3 years and 7 months, and the Group’s liquidity remained strong. The average interest rate on loans at the end of the year was 3.36 percent, compared to 3.76 percent in the previous year. Atria has reduced its interest rate risk by dividing its financing between variable- and fixed-rate loans, and by hedging with interest-rate derivatives. At the end of the year, fixed-rate debt accounted for 47.6 percent of the total loan portfolio. At the end of the year, the company had EUR 50 million in undrawn committed credit facilities that were not used during the review year, as well as a EUR 200 million commercial paper programme that was used for short-term financing. TOMAS BACK CFO, Deputy CEO A TRIA ’S FINANCIAL T ARGETS AND ACTUALS ACHIEVED 2025 2024 2023 Net sales: EUR 2,000 million 1,813.7 1,755.4 1752.7 EBIT: 5% 1) 3.9% 3.7% 2.8% Equity ratio: 40% 45.7% 43.2% 41.7% Return on equity: 12% 1) 11.0% 10.1% 7.3% Dividend distribution: 50% of the profit for the period 1) 2) 46.6% 50.0% 61.2% 1) The figures are adjusted for items affecting comparability, formulae for the calculation of key indicators are found on pages 25–26 in the Board of Directors’ Report, Sustainability Statement and Financial Statements 2025. 2) The Board’s proposal for the dividend to be distributed for 2025 is 0.75 EUR/share. 23ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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Sustainability is at the core of Atria’s strategy – and the focus is on the future The year 2025 marked a significant milestone in Atria’s sustainability work. The renewed TOGETHER 2030 strategy has sustainability at its core, and this is reflected in all our operations throughout the value chain. During the year under review, we focused particularly on climate goals and promoting emissions reductions based on Science Based Targets. This work takes place through day-to-day decision-making, both in our own operations and in our supply chain, in conjunction with producers and partners. Good progress in climate work both in our own operations and the supply chain Reducing greenhouse gas emissions is a key environmental goal of our sustainability work throughout the food chain. This is highlighted by the fact that the Science Based Targets-based emissions reduction targets have also been placed at the heart of the Group’s renewed TOGETHER 2030 strategy as one of its strategic targets. In 2025, we took further significant steps towards reaching our emission reduction targets. In our own operations (Scopes 1 and 2), we focused on energy efficiency and energy quality. We implemented and advanced several investments such as heat recovery at our modern poultry plant, investments in electric boilers, and designing a future convenience-food factory – solutions that reduce emissions over the long term. Among our most significant ongoing projects are the modern- isation of convenience food production and green transition energy solutions in Nurmo. The total of these investments amounts to EUR 82.4 million. These actions are expected to reduce the plant’s energy consumption by approximately 50,000 MWh, which corresponds to 21 percent of Atria Finland’s total consumption and will bring annual savings of more than EUR 5 million. Within three years, carbon dioxide emissions (Scopes 1 and 2) will be halved by 32,000 equivalent tonnes. This project will receive EUR 24.7 million in clean transition investment support from Business Finland. In the supply chain (Scope 3), our focus is on farm-level actions. We further developed the carbon footprint calculators for the production of beef, pork and poultry, and expanded their cover- age. The calculators help identify emission sources and effective reduction actions. In feeds, we continued to reduce the use of soy and increase the use of domestically produced protein. The biogas plant to be completed in Nurmo will enable the pro- cessing of slurry in a new way and will significantly reduce the emissions from primary production in the future. CONTINUED → CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts 24ATRIA ’S YEAR 2025ATRIA ’S DIRECTION
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Improving animal welfare is an essential part of our sustaina- bility. In the pig chain, free farrowing has been systematically increased, and more than half the pork we procure already comes from free farrowing farms. The grass-fed beef operat- ing model supports animal welfare and the circular economy. Antibiotic-free production continued strong in all production segments. People, products and quality at the heart of sustainability Employee wellbeing and safety at work are key areas of our sustainability programme. Safety at work is our most impor- tant metric, and it continued to develop positively in 2025: the incident rate fell significantly, and in Denmark, for example, the milestone of 500 consecutive accident-free days was reached. In the personnel surveys, we got excellent results again. The response rate went up, and the employees’ willingness to recom- mend Atria as an employer increased, which indicates employee commitment and trust. For consumers, we raise our sustainability profile through our products and communications. The Heart Label, antibiotic- free products and the traceability of our products to farms remain key responsibility factors, and the Hyvää Suomesta label (Produce of Finland) for feed strengthens our communication about domestic origin and transparency. High quality is the basis of our operations: the Number one in Quality development continued, and Atria’s Quality Ambassadors promoted a culture of quality across the various operations in our production chain. Quality indicators are actively monitored, and continuous improvements are made as a result. Looking ahead – strategy implementation and sustainability programme The year 2025 was marked by extensive and constantly changing sustainability regulation. This was our first year under the scope of the Corporate Sustainability Reporting Directive (CSRD), and we prepared a third-party audited Sustainability Statement in accordance with the directive on our own. The work required significant resources, and the double materiality assessments and new reporting requirements gave us new perspectives on our sustainability work, as well as a strong basis for future reporting and comparability. Our focus is already on implementing the new TOGETHER 2030 strategy and the new sustainability programme to be pub- lished at the beginning of 2026. We are developing the commer- cialisation of sustainability, strengthening sustainability com- munications, and building a group-wide training programme that ensures every Atria employee can talk proudly about our sustainability work. The year 2025 was also personally significant for me: it was my last full year as Atria’s EVP for Sustainability before my retire- ment in the summer of 2026. As I am entering a new phase in life, above all, I’m feeling grateful. I would like to warmly thank all Atria employees and partners for allowing me to do meaning- ful work with you for the last 30 years and to develop a sustaina- ble food chain together. MERJA LEINO Executive Vice President, Sustainability 25ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA STRENGTHENS ITS POSITION AS A SUST AINABLE CONSUMER BRAND According to the 2025 Sustainable Brand Index survey, Atria’s ranking in the food industry has improved by 28 places, and the company is now ranked the 13th. In the overall assessment, Atria improved its ranking from 56th to 41st place, which reflects Atria’s strengthened brand image as a sustainable Finnish food company among consumers. The Sustainable Brand Index is Europe’s largest independent sustainability brand survey, based on a comprehensive consumer survey and covering both environmental and social responsibility. Atria’s success is based on long-term sustainability communication and consistent brand development. Improvement is particularly visible in the areas of Finnish origin, sustainable packaging, and nutrition. Consumers perceive Atria’s communications as credible and transparent, which strengthens the brand’s position as a responsible operator. Consumers’ expectations for sustainability have increased, and they expect companies to make sustainable choices on their behalf, which also challenges Atria to renew itself continuously. CASE 26ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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T ogether towards a safer and more competent Atria The year 2025 was marked by strong cooperation and determined development for Atria. Investments in occupational safety, competence building, a new strategy and employee engagement were reflected in both everyday operations and the employees’ experiences. Positive developments were also seen in key personnel indicators. Safety at work comes first In 2025, safety at work was a key priority in all Atria’s countries of operation. After the drop in the previous year, the accident frequency rate improved again. Safety was improved through management’s personal commitments, safety-themed days and weeks, campaigns, and extensive training, for example. Long- term efforts have continued to further increase open safety discussions. Safety at work was also included in the Atria Awards with the addition of a new Safety category. This initiative highlighted actions to promote occupational safety and strengthened our common safety culture. The 2025 award went to Atria Denmark for its outstanding achievement: more than 500 consecutive accident-free days at work. Human resource development and growing competence Another key focus for 2025 was the development of employee competence. The new Pathfinder programme on artificial intelligence was launched through an open application process, which attracted more than 200 applications from all over Atria. A total of 115 participants were selected. The programme aims to increase understanding and practical knowledge about the use of artificial intelligence such as Copilot in work and business. The results have been tangible: more efficient use of time and new ways of working. The Atria Growth Engine innovation programme (AGE) also continued with a new group of participants, strengthening inno- vation expertise and cooperation across country borders. New strategy: TOGETHER 2030 The new strategy prepared during the year, TOGETHER 2030, was built openly and inclusively. For example, the entire per- sonnel participated in the strategy work by answering open- ended questions in the personnel survey, and the progress of the process was communicated transparently. The name of the strat- egy reflects a common objective: one Atria, where safety, people and communication are highlighted as key facilitators of strategy implementation. Alongside strategy work, an overhaul of the company’s values started with the intention of better supporting the company’s common direction. Stronger employee engagement The results of the personnel survey show that employee engage- ment at Atria is strong and getting even stronger – at a time when many other organisations are experiencing the opposite situation. The response rate increased to 78 percent, and the willingness to recommend Atria as an employer to 85 percent. Engagement improved in all personnel groups. Behind the excellent result are the employees’ experience that their work is meaningful, clear goals, team and project work, and the perceived attractiveness of the company’s values and strategy, for example. The long-term investment in leadership, communi- cation and human resource development is strongly reflected in the results. JENNIFER P AA TELAINEN Executive Vice President, Human Resources 27ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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5,000 2021 2022 2023 2024 2025 4,500 4,000 3,500 3,000 2,500 500 2022 Women Men NUMBER OF PERSONNEL ON AVERAGE, FTE % PROPORTION OF WOMEN/MEN, HC100 2023 Women Men 2024 Women Men 2025 Women Men 2,000 1,500 1,000 3 ,711 3,698 3,898 3,864 3 ,785 Naisten ja miesten osuudet Atria Finland 100 80 60 40 20 0 Atria Sweden Atria Denmark Atria Estonia 20 0 ACCIDENT RATE IN THE ATRIA GROUP BY BUSINESS AREA 2022–2025, HC100 15 10 5 2022 2023 2024 2025 10 0 SICKNESS ABSENCES FROM REGULAR WORKING HOURS, HC100 8 6 4 2022 2023 2024 2025 2 Atria FinlandAtria Finland Atria SwedenAtria Sweden Atria DenmarkAtria Denmark Atria EstoniaAtria Estonia % 28ATRIA ’S YEAR 2025ATRIA ’S DIRECTIONCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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BUSINESS AREAS 29ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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BUSINESS AREA CUSTOMERS CORE PRODUCT CA TEGORIES BRANDS PERSONNEL (FTE) NET SALES ADJUSTED EBIT A TRIA FINLAND • Retail trade • Foodservice customers • Export customers • Sibylla concept customers • Food industry • Fresh and consumer packed meat • Poultry products • Cooking products, such as cooking sausages • Cold cuts • Convenience food • Atria • Forssan • Jyväbroiler • Wilhelm • Sibylla • Ridderheims 2,463 6 5 .1% of the Group’s personnel EUR 1,319.6 million 71.8% of the Group’s net sales EUR million 62.2 A TRIA SWEDEN • Retail trade • Foodservice customers • Sibylla concept customers • Export customers • Cold cuts • Cooking sausages • Fresh poultry products • Convenience food • Vegetable and delicatessen products • Lönneberga • Sibylla • Arboga • Lithells • Ridderheims • Gooh! 880 23.2% of the Group’s personnel EUR 392.7 million 21.4% of the Group’s net sales EUR million 8.3 A TRIA DENMARK & ESTONIA • Retail trade • Foodservice customers • Export customers • Meat products, particularly sausages, including cold cuts and breadcrumbs spreads • Convenience food • Fresh and consumer packed meat • 3-Stjernet • Maks & Moorits • Wõro • Aalbæk • Vastse-Kuuste 442 11.7 % of the Group’s personnel EUR 124.8 million 6.8% of the Group’s net sales EUR million 4.9 30ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA FINLAND Atria Finland develops, produces, markets, and sells fresh foods and related services. Atria’s main product categories are fresh meat and meat products, poultry products, and convenience foods. Atria is the market leader in many of its product categories in Finland, and the company has significant export activities. In 2025, Atria Finland’s net sales were EUR 1,319.6 million, and the company had 2,463 employees. Adjusted EBIT reached a record EUR 62.2 million. The meat raw material for the Atria brand is 100% Finnish. NET SALES, EUR MILLION ADJUSTED EBIT, EUR MILLION AND % 1,319.6 62.2 (EUR 1,295.6 million) (EUR 60.4 million) BRANDS M100, Y100 K100 M100, M60 Sibylla-tunnus 1,200 1,400 EUR million 2021 2022 2023 2024 2025 1,000 800 600 400 200 0 1,265 1,326 1,296 1,320 60 70 EUR million 2021 2022 2023 2024 2025 50 40 30 20 10 0 4 8 .1 49.4 56 .1 60.4 62.2 4 .7 4 .7 5.0 6.0 4.0 3.0 2.0 1.0 0.0 % 1,10 6 31ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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MIKA ALA -FOSSI Executive Vice President, Atria Finland Excellent performance in an unstable operating environment In 2025, Atria Finland’s net sales were EUR 1,319.6 million. Net sales increased slightly compared with the previous year as a result of stronger exports and industrial sales. Sales to retail trade and Foodservice customers were at the previous year’s good level and grew towards the end of the year. The total retail trade market for Atria’s product categories in Finland was growing slightly. Demand for poultry and conven- ience food continued to grow. In 2025, the market for poultry products grew by 3 percent in value, and the convenience food market by almost 2 percent, compared with the previous year. The development of the Foodservice market was subdued: the fast food market grew slightly, while the restaurant market remained at the previous year’s level. The Finnish Food Workers’ Union’s strike in April and the related overtime and shift change bans had a negative impact on the net sales of the reporting period. The nutrition recom- mendations published at the end of 2024 weakened consumer demand for meat products. Atria Finland’s adjusted EBIT for 2025 improved by EUR 1.8 million from the previous year and was a record high, at EUR 62.2 million. The good performance was the result of the improved efficiency of poultry production and its concentration in the new poultry plant in Nurmo. In addition, the strong growth of net sales in H2, along with the start of chicken exports to China at the end of the year, were key drivers of the improved EBIT. The costs of outsourced services were higher than in the comparison period. Investments in growth, profitability and sustainability During the year, Atria initiated significant investments to strengthen the company’s competitiveness, and advance its growth and sustainability targets. With the investments, Atria strengthens its market position, improves production efficiency and takes significant steps towards a carbon-neutral future. In the spring, we launched a EUR 7 million investment to renew and expand pancake production in Nurmo. In July, we announced an investment of more than EUR 80 million in con- venience food production, and in the autumn, an investment of EUR 16 million in beef production. New strategy: TOGETHER 2030 In September, we published our new business strategy. At the heart of Atria Finland’s strategy is Atria’s unique food chain: from field to fork, working together. With strong expertise, we produce food that tastes good and can be trusted, now and in the future. In our strategy, we focus on strengthening our core businesses – red meat and meat products. We seek growth in convenience food and poultry products. We create new business in coopera- tion with the other business areas of our Group. We renew our business with other operators across our food production chain. 32ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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Market for Atria’s main product categories1) VALUE, APPROX. EUR MILLION 173 Finnish barbecue market1) MARKET SHARE OF ATRIA’S BARBECUE PRODUCTS 29% 1) Nielsen IQ separate reporting on barbecue products Finland’s meat and meat product market2) MARKET VALUE MARKET VOLUME 3,279 381 EUR million million kg Change +1.1% Change -0.5% 1) Retail trade, consumer packed and bulk products 2) Total value of the meat, meat products and convenience food market in the retail trade and Foodservice sector channels. MARKET VALUE 3,951 EUR million Change +0.2% (volume) +2.5% (value) THE POSITION OF ATRIA’S MAIN PRODUCT CATEGORIES IN THE MARKET 1) CATEGORY Change in total market2) Atria’s share of production3) Atria brands4) Value (EUR) Volume (%) Value (EUR) Position Consumer-packed meat +3.1% -2.9% 33.4% #1 Poultry +3.0% +4.8% 42.5% #2 Cooking -1.8% -2.9% 26.5% #1 Cold cuts -4.4% -6.1% 20.7% #1 Convenience food +1.9% +0.7% 14.7% #3 Total (vs. 2024) +0.8% (-0.2%) -0.7% (+0.8%) 24.9% (25.4%) 1) Grocery trade, consumer-packed products 2) Percentage change compared to the previous year 3) Atria as a supplier 4) Market position of product categories sold under the Atria brand Change + / – 0% 33ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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VOLUME OF MEAT PROCESSED BY ATRIA (MILLION KG) MEAT PRODUCTION AND CONSUMPTION IN FINLAND IN 2025 1) ATRIA’S DELIVERY RELIABILITY % 180 99.9 100.0 Million kg Million kg (2024 in brackets) 1) Production and consumption of bone-in meat. Source: Kantar TNS Agri, 2025. Change, % in comparison to 2024) Production ...................................401.1 Consumption ..............................429.5 Exports ................................45.2 (46.0) Imports ...............................75.6 (76.7) Domestic share of consumption ...82.4% Production ...................................163.4 Consumption ..............................157.1 Exports ................................26.9 (27.9) Imports ...............................22.1 (22.2) Domestic share of consumption ...85.9% Production .....................................81.2 Consumption ................................94.3 Exports ....................................6.9 (8.2) Imports ...............................19.4 (17.9) Domestic share of consumption ...79.4% Production ...................................155.4 Consumption ..............................174.7 Exports ..................................11.4 (9.9) Imports ...............................31.8 (34.6) Domestic share of consumption ...81.8% Total meat Pork Beef Poultry % 2021 2021 -15 -10 -5 0 5 10 15 2022 2023 2024 2025 2022 2023 2024 2025 59.656 .156.9 41.3 63.2 65.6 6 7. 3 41.3 68. 7 40.3 6 3 .7 42.8 61.4 39.2 66.2 160 99.8 140 99.7 120 99.6 100 99.5 80 99.4 60 99.3 40 99.2 20 99.1 0 99.0 Poultry Beef Pork 164.9 99.89 The volume of meat processed by Atria increased by 4 million kilograms from the previous year. Atria’s delivery reliability remained excellent. In 2025, the reliability of our deliveries was the same as in the previous two years, i.e. 99.89 percent. Delivery reliability during the Easter and May Day periods was weak due to the Finnish Food Workers’ Union’s strike in April, and the overtime and shift change bans related to labour market negotiations. +1 +1 +2 +2 +4 -6 -5 34ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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P ANCAKES MADE WITH QUARK BECAME A SOCIAL MEDIA PHENOMENON – A TRIA RESPONDS TO CONSUMER TRENDS Atria closely monitors consumer needs and trends, which is reflected in innovative convenience food product development. “The basic promise of convenience food is ease, combined with healthiness and sustainability, ” says Marika Viitala, Product Category Manager in charge of meals. Success stems from products corresponding to the values and lifestyle of consumers. An excellent example is Atria’s pancakes made with quark, which combine a modern lifestyle with traditional characteristics. Kati Rannila, Product Category Manager in charge of snack products, says that the cocoa and raspberry-flavoured pancakes with quark have become a social media phenomenon thanks to their interesting flavour, protein content and visual novelty. The popularity was due to cooperation with Finnish wellness influencer Jessica Reiman, whose tip gained wide social media attention, also increasing the popularity of the apple-cinnamon version. The latest addition to the product family is the banana-quark pancake launched in the autumn of 2025. “ Atria’s product development is strongly guided by wellbeing, and vegetarian products are increasingly important. Gut health and special diets are trends that determine future innovations” , according to Viitala and Rannila. CASE 35ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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CASE In the spring of 2025, Atria Finland launched an extensive investment programme of approximately EUR 110 million in convenience food production. In the first phase, an investment of approximately EUR 7 million was initiated to modernise and expand production at the Nurmo pancake unit. In August, an investment project of EUR 82.4 million was launched at the Nurmo plant, covering the modernisation of convenience food production and the improvement of energy efficiency. The project involves modernising the production processes of convenience food and making heat production carbon-dioxide-free. This investment will reduce Atria’s carbon dioxide emissions (Scopes 1 and 2) by approximately 32,000 equivalent tonnes, which means almost halving the emissions from the 2024 level. Energy consumption is estimated to decrease by 50,000 MWh, which equals 21 percent of Atria Finland’s energy use. In addition, the energy solutions will bring annual savings of more than EUR 5 million. Business Finland granted clean transition aid of EUR 24.7 million to the project. The investment is part of a wider programme of approximately EUR 110 million, the first phase of which was launched in the spring with an investment of EUR 7 million in pancake production. The renewed convenience food factory enables the development of innovative products and supports Atria’s strategy of leading the way in sustainable food production. In addition, Atria will be investing EUR 16 million in the development of the cattle slaughterhouse in Kauhajoki. The aim of this project is to improve production capacity and process efficiency, as well as to meet the growing demand for domestic beef. The investment includes the introduction of new technology that improves animal welfare and increases transparency in production. The Kauhajoki project supports Atria’s strategy to strengthen the position of domestically produced meat and ensure a competitive and sustainable value chain. INVESTMENTS IN GROWTH AND PROFIT ABILITY 36ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA SWEDEN Atria Sweden produces and markets meat products, fresh chicken products, cold cuts, various types of meal solutions and fresh convenience food for the Swedish food market. Atria Sweden has several valued well- known brands, many of which are market leaders in their respective product categories. Atria is also a strong private label supplier. The raw meat used in Atria Sweden’s product categories is mainly of local origin. In 2025, the company’s net sales were around EUR 392.7 million, and the company had 880 employees. NET SALES, EUR MILLION ADJUSTED EBIT, EUR MILLION AND % 392. 7 8.3 (EUR 360.2 million ) (EUR 4.5 million ) 400 8 8.0 450 10 10.0 EUR million EUR million % 2021 20212022 20222023 20232024 20242025 2025 350 6 6.0 300 4 4.0 250 2 2.0 200 0 0.0 150 -2 -2.0 100 -4 -4.0 50 -6 -8 -6.0 -8.00 352 356 330 360 393 2,. 7 2.3 -5.6 4.5 1.3 2 .1 8.3 BRANDS M100, Y100 K100 M100, M60 Sibylla-tunnus 37ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA SWEDEN
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Growth, profitability and competitiveness developed positively Atria Sweden had a successful year in 2025. Net sales and operating profit increased significantly. The positive trend was due to increased sales to both retail and Foodservice customers. Improvements in production and logistics also improved Atria Sweden’s earnings. Growth was particularly strong in the poultry products and convenience foods segments, and Atria strengthened its market share. The acquisition of Gooh! in 2024 has also added sig- nificant value and strengthened our position in the Swedish convenience food market. During the year, we have succeeded in developing the Gooh! business significantly: both sales and profitability have improved markedly. As in the previous year, the market environment was unstable in 2025. Despite increased purchasing power, Swedes are cautious in their spending, which has reduced the volume of domestic food production. Consumers are buying affordable products and carefully considering their purchases. Price and locality continue to be key factors in grocery shopping. We see the same trend in the Swedish Foodservice market as the economy remains weak. Consumers are cautious with their spending, which is reflected in declining restaurant visits. Price is a key issue, as costs continued to rise in 2025. In Sweden, the shortage of domestic beef poses challenges and is expected to continue. The shortage of beef is driving up pork prices and supporting the growth in domestic poultry volumes. This has also caused challenges in the availability of poultry products for both retail and Foodservice customers. During the review period, we continued to implement the Prof- itable Growth Plan, focusing on optimising our product range, improving our planning process and strengthening profitability in core categories such as sausages and poultry. The first year of the programme has already spurred growth through several initiatives. In 2025, we established a new sustainability function for Atria Sweden and made consistent progress in our sustainability projects. We made several energy-efficiency investments in our production facilities in Borås, Sköllersta and Tranås, which strengthen our sustainability profile and lower costs in the long term. In December, we announced an investment of approximately EUR 23 million in sausage production in Sköllersta, Sweden. The investment includes a new continuously operating produc- tion line, as well as expansions and upgrades to the production site in Sköllersta. This project aims to replace old production technology, boost energy efficiency, improve product quality and make deliveries more reliable. Our commitment to improving safety and preventing accidents continued to be strong. In 2025, we invested heavily in our Safety Week training, and this, with ongoing safety discussions, has significantly reduced accidents. Accidents decreased by more than 50 percent compared with 2024. Atria Sweden had a strong year in 2025. Net sales and profit increased significantly despite a challenging market situation. Atria is in a good position as we head into 2026. Our goals are more ambitious than before, with a strong focus on profitable growth in strategic categories. JARMO LINDHOLM Executive Vice President, Atria Sweden 38ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA SWEDEN
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TOT AL MARKETS OF A TRIA ’S MAIN PRODUCT CA TEGORIES IN SWEDEN MARKET VALUE MEAT CONSUMPTION IN SWEDEN (KG/PERSON) IN 2005–2025 PERCENTAGE OF MEAT CONSUMPTION FROM DOMESTIC SOURCES (%) IN SWEDEN 2005–2025 VALUE CHANGE, % 1,480 +4.6 EUR million THE POSITION OF ATRIA’S MAIN CATEGORIES IN THE SWEDISH RETAIL MARKET CATEGORY Market value Change in overall market1) Change in Atria’s share of manufacturing1) Market position2) EUR million Value (EUR) Volume (%) Value (%-points) Position Cold cuts 517 +1.0% -1.9% 0.5% #2 Sausages 449 +0.2% -2.0% 0.2% #2 Poultry products 360 +14.8% +7.8% -0.5% #3 Fresh meals 111 +8.4% +4.9% N/A #1 1) Percentage of change in comparison to 2024 2) Atria’s market position as a manufacturer in the grocery retail sector Source: AC Nielsen, rolling 12 months, 2025 Poultry Beef Total Pork Total consumption in 2025 is expected to remain unchanged compared with 2024. Beef consumption is projected to decline in 2025, mainly due to higher prices and scarcity of raw meat. The share of Swedish meat in total consump- tion is expected to decrease by 5.2 percent. Pork consumption is expected to increase, likely as a result of decreased beef consumption. Imports are increas- ing due to competitive prices, and the share of Swedish meat is decreasing despite an increase in the volume of domestic slaughter. The Swedish Agricultural Board’s data on poultry consumption is available up to June 2025. By June, consumption had decreased by 6.2 percent. The decrease is due to reduced import volumes, while Swedish production remains at the same level as in 2024, having increased by 0.1 percent by June. We estimate that total poultry consumption in 2025 will be 0.4 percent higher than in 2024. 80 80 90 90 100 2005 20052010 20102015 20152020 20202025 2025 70 7060 6050 5040 40 30 30 0 0 20 20 10 10 75.91 29.50 80% 24. 19 72% 22.22 54% Source: Jordbruksverket. 39ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA SWEDEN
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20- YEAR-OLD GOOH! IS A STRONG MARKET LEADER IN CONVENIENCE FOOD Gooh! turns 20 years and strengthens its position as Sweden’s leading convenience food brand, with a market share of around 22 percent. In 2025, the convenience food category continued to grow strongly, and Gooh! increased its sales by 16.3 percent, well above the category’s average growth of 8.4 percent. Gooh!’s success is based on a consumer-oriented operating model that emphasizes quality, taste and ease. The brand has grown from a small shop in Stockholm to a nationwide success and is responsible for eight out of ten of Sweden’s bestselling convenience food products. There are ten products in the range, three of which are vegetarian options. Behind Gooh! lies strong culinary expertise that stems from collaborating with top chefs. Consumer expectations have changed: quality and ease are now equally important requirements. Gooh! is well prepared to respond to future meal trends by continuing to invest in taste and innovation, which will also ensure its market leadership in the future. CASE CONSUMER BEHA VIOUR IN TRANSITION Four key areas shaping the food of the future Health and wellness, ethics and sustainability, enjoyment and experience, and value and convenience are four key areas of consumer focus that will shape the future of food and wellbeing. Trends emphasise preventive healthcare, sustainable choices, holistic experiences, and lifestyles based on comfort and convenience. Demand for transparency and functionality Consumers are increasingly demanding transparency, authenticity and functional benefits from food brands. This drives innovation in natural ingredients, ethical sourcing, personalised nutrition, and technologies that enable better decisions and maximise value. Changing eating habits Social changes – such as an ageing population, frag- mented mealtimes, living alone, and a growing desire for new experiences – are reshaping how people eat, meet and celebrate. This creates opportunities for brands to respond to different needs, support social wellbeing, and provide “micro-moments” of new experiences. 40ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA SWEDEN
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A TRIA DENMARK & ESTONIA Atria Denmark & Estonia produces and markets cold cuts, meat and meat products for the Danish and Estonian markets. The business area also has export operations. Atria Denmark & Estonia has valued, widely known brands, many of which are market leaders or hold the second position in their product categories. Atria has three production plants, two in Denmark and one in Estonia. In 2025, the net sales of Atria Denmark & Estonia were around EUR 124.8 million, and the company had 442 employees. The meat raw material used in Atria’s product categories in Denmark and Estonia is mainly of domestic origin. In Estonia, Atria has its own primary production, and the company is the country’s second largest pork producer. NET SALES, EUR MILLION ADJUSTED EBIT, EUR MILLION AND % OF NET SALES 124.8 4.9 (EUR 125.9 million) (EUR 5.3 million) 140 6 6.0 EUR million EUR million % 2021 20212022 20222023 20232024 20242025 2025 120 100 80 5 5.0 60 4 4.0 40 3 3.0 20 2 2.0 1 0 1.0 0.00 BRANDS 125126122 113 105 5 .1 1.2 2.9 5.3 4.9 4.2 4.0 41ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA DENMARK & ESTONIA
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A TRIA DENMARK More efficient production and new export opportunities in Denmark 2025 was a challenging year for the Danish grocery trade, with consumption declining, and competition intensifying significantly. This was particularly evident in the retail sector, where Atria Denmark’s sales volumes decreased due to product discontinuations and increasingly fierce price competition. This development was particularly evident in our branded business. At the same time, our export business saw strong growth, becoming the year’s most significant commercial growth factor. Strong export growth balanced out a year otherwise marked by market pressures. Overall, Atria Denmark’s financial performance was negatively affected by lower retail volumes and intensified competition, but our measures to improve productivity turned this trend around. Production efficiency measures, new production solutions and increased cost awareness increased productivity and improved the utilisation rate of production facilities, which strengthened the financial sustainability of operations despite the challenging market. At the category level, we also strengthened the basis for future brand and portfolio development projects, even though there were only a limited number of new launches during the year. This work will support the competitiveness of our core business in the coming years. By the end of 2025, Atria Denmark will have more efficient and stronger production, a rapidly growing export business and a clearer strategic foundation for future growth. LISE ØSTERGAARD Executive Vice President, Atria Denmark 42ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA DENMARK & ESTONIA
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A TRIA ESTONIA Atria Estonia held on to its market position 2025 was an exceptionally challenging year for Atria Estonia. The spread of African swine fever (ASF) in Estonia led to two Atria pig farms being infected with ASF in the summer, which affected both primary production and the operations of Valga’s production unit. Despite the challenges, the company managed to avoid signif- icant negative effects on sales. However, due to the weakened availability of domestic raw material, we had to restrict retail and industrial sales. Sales to the retail trade increased by 1.3 percent compared with the previous year, and we managed to increase our market share in terms of both volume and value. The majority of Atria Estonia’s net sales comes from sales to retail customers. The growth in net sales was driven by the company’s strong Maks & Moorits brand and successful marketing efforts. In 2025, Maks & Moorits was the most popular meat brand in Estonia, and the second most popular food and drink brand in the whole country. The positive trend in net sales was due to increased sales of cold cuts and consumer-packed red meat. In particular, sales of ham products, minced meat and sausages grew strongly. MEELIS LAANDE Executive Vice President, Atria Estonia 43ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA DENMARK & ESTONIA
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The position of Atria’s main categories on the Danish and Estonian retail markets (2024: 14.1%) DENMARK PRODUCT CATEGORY Cold cuts PRODUCER SHARE (IN VALU E) 13.4% MARKET POSITION #2 (2024: 21.2%) ESTONIA PRODUCER SHARE (IN VALU E) 22.2% MARKET POSITION #2 PRODUCT CATEGORY Meat, meat products and convenience food VALU E 811 EUR million The value of the market for cold cuts in Denmark and the value of the market for meat and meat products in Estonia’s retail trade, total The markets for Atria’s main product categories in Denmark and Estonia CHANGE IN VALUE CHANGE IN VALUE VOLUME CHANGE +0.3% +2.0% -1.5% (+1.1%) (+3.6%) (+0.6%) VOLUME CHANGE -0.4% (-0.4%) Change in the total market of Atria’s main product categories in Denmark and Estonia in 2025 44ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA DENMARK & ESTONIA
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MAKS & MOORITS BRAND THRIVING IN ESTONIA According to Kantar Emor’s annual consumer surveys, Maks & Moorits has now been Estonia’s most respected meat product brand for several years in a row. In addition, Maks & Moorits is the second most popular food and beverage brand in Estonia – a position that reflects long- term consumer confidence and strong brand recognition. In 2025, the Sustainable Brand Index named Maks & Moorits the most sustainable meat product brand in Estonia, highlighting our ongoing work to promote environmental responsibility, transparency and high- quality local production. CASE AFRICAN SWINE FEVER IN ESTONIA Two Atria pig farms in Estonia were found to have African swine fever outbreaks, one in June, the other in August. Thorough cleaning and disinfection activities were conducted on the premises. Thanks to the Estonian state compensation system, the direct economic impact of the outbreaks on Atria was minimal. 45BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts ATRIA ’S YEAR 2025 A TRIA DENMARK & ESTONIA
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Consumer behaviour changing DENMARK 1. T aste and quality Taste and quality remain the most important factors influenc- ing the consumption of cold cuts in Denmark, far more so than any other motivating factors. Danish consumers consistently emphasise that cold cuts must deliver flavour, freshness and quality to make it onto their plates. This emphasis has remained surprisingly stable over time, even though trends have shifted towards convenience, price and health. Overall, the Danish cold cuts category is still strongly linked to culinary enjoyment and everyday eating habits. 2. Affordability The Danes have always appreciated good deals, and special offers have long played a significant role in purchasing decisions. However, the recent period of high inflation has increased price awareness, making consumers even more price-conscious than before. As household budgets tighten, many consumers are looking for better value for their money, actively seeking out bargains and favouring products that offer affordability without compromising on everyday essentials. 3. Health Danes increasingly want to live healthy lifestyles, and products such as chicken, low-fat alternatives, and those bearing the Key Flag symbol are seen as better options for everyday consump- tion. However, financial pressure leads many to choose cheaper options, even when they would prefer to buy a healthier product. The following consumer trends in the food industry were among those affecting Atria’s operations and offering in Denmark and Estonia in 2025: ESTONIA 1. Price Inflation has affected consumer behaviour in Estonia. Price has become the most important factor influencing purchas- ing decisions. More than 60 percent of consumers base their choice of fresh meat, especially chicken and minced meat, primarily on price. Consumers are actively looking for deals, bulk packs and discounts, and brand loyalty is weakening as affordable offers become more widely available. Private label products are increasingly accepted as good and affordable alternatives. 2. Convenient and planned Approximately 80 percent of meat purchases are planned in advance. Consumers are increasingly incorporating meat into their weekly meal planning. At the same time, conven- ience-driven product categories are growing: marinated meats, ready-to-cook products similar to convenience food and meat products (sausages, hams). These are often impulse purchases made in-store, motivated by the visual appeal of the selection and special offers. Convenience is particularly important for busy households. 3. Health Health awareness continues to grow. Consumers are increasingly choosing chicken over red meat, preferring lighter, lower-fat options, and paying closer attention to the nutritional content of products. Consumers expect products to be both easy to use and healthier than previously. 4. Sustainability Consumer interest in product sustainability is growing steadily. In Estonia, we are using less plastic in our packaging materials, making greater use of solar energy and producing pork locally at Atria’s own farms. Price still remains the most important factor in purchasing decisions, but sustainability is increasingly influencing choices, especially among younger consumers. 46ATRIA ’S YEAR 2025BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts A TRIA DENMARK & ESTONIA
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3-ST JERNET IS A LEADING COLD CUTS BRAND 3-Stjernet maintained its strong position in the Danish cold cuts market during 2025. Brand awareness remained at 98 percent, making it one of the best-known retail brands in Denmark. In the second half of the year, the brand’s visibility increased across several media channels such as outdoor advertising, cinema advertising, television and other digital channels. The measures supported the brand’s overall visibility in a competitive market. Atria Denmark continued to develop the brand as part of its long-term business goals. Communications and marketing were specifically directed at target groups whose expectations and needs drive demand in the product category. 3-Stjernet’s product range emphasises quality and traditional production expertise, which have been key principles in the brand’s operations. CASE 47BUSINESS AREASCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts ATRIA ’S YEAR 2025 A TRIA DENMARK & ESTONIA
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RESEARCH AND DEVELOPMENT 48ATRIA ’S YEAR 2025RESEARCH AND DEVELOPMENTCONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA ’S RESEARCH AND PRODUCT DEVELOPMENT SERVES CONSUMERS, CUSTOMERS AND OTHER ST AKEHOLDERS Atria invested EUR 14.8 million in research and product development in 2025. The investments were at the same level as the previous year. Atria seeks to serve its stakeholders by making extensive use of research and product development in its business operations to further improve existing products and develop new ones. Atria’s main product categories are fresh and consumer-packed meat, poultry products, meat products like sausages and cold cuts, and convenience food. At Atria, market information and information about consumer behaviour are collected through both continuous established processes and tailored studies and surveys when necessary. In recent years, the methods and mathematics related to the predic- tion of market behaviour have developed in a way that enables increasingly specific projections. This also means that forecasts for smaller product segments and trade channels are available. The data is used in the processes of commercial operations and in investment planning, for example. RESEARCH AND PRODUCT DEVELOPMENT INVESTMENTS ON RESEARCH AND DEVELOPMENT, EUR MILLION AND % OF NET SALES EUR 14.8 million Atria’s research and product development expenses were at the same level as the previous year. 20.0 2021 2022 2023 2024 2025 15.0 10.0 5.0 0.0 15.3 13.5 14.4 14.8 14.8 1.5 %EUR million 1.3 1.1 0.9 0.7 0.5 0.3 0.1 0.8 0.8 CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts 49ATRIA ’S YEAR 2025RESEARCH AND DEVELOPMENT
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NEW PRODUCTS ATRIA APPLE & CINNAMON QUARK PANCAKES 3-STJERNET COLD CUTS LÖNNEBERGA CHICKEN SKEWERS NEW MAKS & MOORITS PRODUCTS Protein-rich quark pancakes are great for breakfast or as a snack or light meal. Apple and cinnamon quark pancakes have a smooth flavour liked by the whole family. Atria quark pancakes are ready to eat and only need to be heated before serving. In 2025, Atria Denmark focused on both launching a new packaging for whole meat products and improving animal welfare for poultry. Five new poultry products were launched, all under the Bedre Dyrevelfærd – Better Animal Welfare label. Lönneberga BBQ chicken skewers were the corner- stone of Atria’s sales growth in the poultry category. In 2025, Atria continued to grow in both volume and market share, which was a result of the good sales development of the new Lönneberga BBQ products. Atria Estonia’s flagship brand Maks & Moorits has consistently been the most popular meat product brand in Estonia, according to Kantar Emor’s annual consumer surveys. As the leader in its product category, Maks & Moorits is also ranked as the second most popular food and beverage brand in Estonia overall – a position that reflects long-term consumer confidence and strong brand awareness. BUSINESS AREA NUMBER % OF NET SALES Atria Finland 69 (72) 4.8% Atria Sweden 63 (96) 3.2% Atria Denmark & Estonia 76 (45) 8.8% NEW PRODUCTS 2025 (2024) NUMBER OF NEW PRODUCTS 208 The number of new products also includes new packaging and product support innovations. CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts 50ATRIA ’S YEAR 2025RESEARCH AND DEVELOPMENT
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INVESTOR INFORMA TION 51INVESTOR INFORMATION ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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A TRIA PLC’S SHAREHOLDERS AND SHARES Number of shares Shareholders Shares Number of % 1,000 pcs % 1 - 100 8,943 51.59 373 1.32 101 - 1,000 7,136 41.17 2,572 9.10 1,001 - 10,000 1,176 6.78 2,831 10.02 10,001 - 100,000 68 0.39 1,481 5.24 100,001 - 500,000 4 0.02 517 1.83 500,001 - 1,000,000 5 0.03 3,094 10.95 1,000,001 - 3 0.02 17,399 61.55 Total 17,335 100.00 28,268 100.00 Shareholder type Shareholders Shares Number of % 1,000 pcs % Companies 453 2.61 18,670 66.05 Financial and insurance institutions 18 0.10 1,324 4.68 Public corporations 6 0.04 672 2.38 Non-profit organisations 97 0.56 244 0.86 Households 16,704 96.36 5,914 20.92 Foreign owners 57 0.33 24 0.09 Total 17,335 100.00 26,847 94.97 Nominee-registered, total 1,421 5.03 KII A Tota l % Itikka Co-operative 4,914,281 3,537,652 8,451,933 29.90 Lihakunta 4,020,200 3,848,073 7,868,273 27.83 Mandatum Life Insurance Company Ltd. 1,079,202 1,079,202 3.82 Pohjanmaan Liha Co-operative 269,500 480,038 749,538 2.65 Skandinaviska Enskilda Banken Ab * 640,197 640,197 2.26 Etola Group Oy 625,000 625,000 2.21 Citibank Europe Plc * 554,804 554,804 1.96 Varma Mutual Pension Insurance Company 524,640 524,640 1.86 The Estate of von Julin Sofia Margareta 160,000 160,000 0.57 Clearstream Banking S.A. * 128,854 128,854 0.46 BREAKDOWN OF SHAREHOLDINGS SHAREHOLDERS BY SECTOR ON 31 DEC 2025 INFORMATION ABOUT SHAREHOLDERS DEVELOPMENT OF THE SERIES A SHARE PRICE 2021-2025 (AVERAGE PRICE) Shareholders by number of shares held on 31 Dec 2025 Major shareholders on 31 Dec 2025 * Nominee registered 16.00 EUR 03/21 06/21 09/21 12/21 03/22 06/22 09/22 12/22 03/23 06/23 09/23 12/23 03/24 06/24 09/24 12/24 03/25 06/25 09/25 12/25 14.00 13.00 15.00 12.00 10.00 9.00 11.00 8.00 52INVESTOR INFORMATION ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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FINANCIAL COMMUNICA TION The aim of Atria’s investor reporting is to ensure that the market has at all times correct and sufficient information available to determine the value of Atria’s share. In addition the aim is to provide the financial markets with versatile information, based on which those active in the capital markets can form a justified image of Atria as an investment object. Atria has established a silent period for its investor relations communications; this period covers 30 calendar days prior to the publication of interim reports and annual reports and, if there are more than 30 days between the end of the review period and the publication of the report/ release, the period in question. Atria will not issue any statements on its financial standing during this period. INVESTOR INFORMA TION Atria publishes financial information in real time on its website at www.atria.com. There you can find annual reports, interim reports and press releases and company announcements. The company’s largest shareholders and insiders as well as their holdings are updated regularly to the website. COMP ANY ANNOUNCEMENTS Atria Plc published a total of 25 company announcements or investor news in 2025. The releases can be found on the Atria Group website www.atria.com/en/investors. DISCLOSURE POLIC Y The disclosure policy approved by the Atria Board of Directors describes the key principles followed by Atria as a listed company in its communications with the capital markets and other stakeholders. The disclosure policy is available in full on the company’s website. Atria Plc’s IR contact person: Hanne Kortesoja, Group Vice President, Communication & IR Tel: + 358 400 638 839 e-mail: hanne.kortesoja@atria.com Atria’s performance has been monitored by at least the following analysts: • Nordea, Joni Sandvall Tel: +358 9 5300 5484 e-mail: joni.sandvall@nordea.com • OP Financial Group, Matti Kaurola Tel: +358 10 252 4408 e-mail: matti.kaurola@op.fi • Inderes Ltd, Pauli Lohi Tel. +358 45 134 7790 e-mail: pauli.lohi@inderes.fi 53INVESTOR INFORMATION ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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ANNUAL GENERAL MEETING ON 23 APRIL 2026 The Annual General Meeting of Atria Plc will be held on Thursday, 23 April 2026. By virtue of the Limited Liability Companies Act, a shareholder has the right to put matters that fall within the competence of the General Meeting on the agenda of the General Meeting, provided the shareholder makes a written request to the Board of Directors in time for the matter to be included in the notice of meeting. The request has been received in time, if the board is notified of the request February 27, 2026. The written request together with an explanation or a proposed resolution shall be sent to Atria Plc, Legal Affairs, Läkkisepäntie 23, FI-00620 Helsinki. The notice of the Annual General Meeting will be published later. Financial statements bulletin 2025 12 Feb 2026 Annual Report 2025 week 11/2026 Interim Report Q1 (3 months) 23 April 2026 Half-year report H1 (6 months) 22 July 2026 Interim report Q3 (9 months) 22 Oct 2026 IN 2026, ATRIA PLC WILL PUBLISH ITS FINANCIAL RESUL TS AS FOLLOWS: Atria’s financial information will be published in real time on the company website at www.atria.com. Atria’s Board of Directors 54INVESTOR INFORMATION ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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WHY INVEST IN A TRIA ? Atria combines a strong financial foundation, products and market positions that stand out from competitors, and an ambitious yet realistic growth strategy. This makes the company an excellent investment choice for investors seeking attractive and stable returns. A TRIA OFFERS AN A TTRACTIVE INVESTMENT OPPORTUNITY FOR THREE KEY REASONS: 1. Strong Financial Performance and Shareholder V alue Growth • Atria has a long-term, stable financial track record: in 2025, the company achieved a record-high EBIT (EUR 69.9 million) and return on equity (ROE 11.0 percent). • The balance sheet is strong (equity ratio 2025: 45.7 percent), enabling continuous investments and effective risk manage- ment. • Dividends paid to shareholders have increased steadily (EUR 0.75 per share in 2025), demonstrating the company’s com- mitment to shareholder value creation. 2. Unique Products and Strong Market Positions • Atria offers several distinctive products, such as an antibiotic- free and salmonella-free production chain, as well as product- specific carbon footprint traceability. • The company has succeeded in international competitions (e.g., World Steak Challenge). • Atria holds a strong brand position in all four of its main markets (Finland, Sweden, Denmark, Estonia), ranking as a market leader in several product categories. • The company is well positioned in growing categories such as poultry and convenience foods, and is investing heavily in these categories (e.g., the modern poultry factory and the new convenience food factory in Atria´s Nurmo production plant. 3. Ambitious and Realistic Strategy • Atria has clear and ambitious targets: 5 percent EBIT, over EUR 2 billion in net sales, and significant emission reduc- tions (Scope 1 & 2: -42 percent, Scope 3: -20 percent by 2030). • The company is focusing on growth especially outside Finland and is effectively leveraging group-wide scale and exports. • Atria has a strong track record in successfully executing large investments (e.g., the Nurmo plant, Streamlining of Swedish operations), which builds confidence in the success of future strategic projects. 55INVESTOR INFORMATION ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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CONT ACTS A TRIA PLC Head office: Itikanmäenkatu 3, Seinäjoki P .O. Box 900, FI-60060 ATRIA, Finland Tel. +358 20 472 8111 firstname.lastname@atria.com www.atria.com A TRIA FINLAND Head office: Atriantie 1, Seinäjoki P .O. Box 900, FI-60060 ATRIA, Finland Tel. +358 20 472 8111 info@atria.com firstname.lastname@atria.com www.atria.com Invoicing address: P .O. Box 1000 FI-60061 ATRIA, Finland Financial administration: Itikanmäenkatu 3, Seinäjoki P .O. Box 900, FI-60060 ATRIA, Finland Sales Service Centre: Itikanmäenkatu 3, Seinäjoki P .O. Box 900, FI-60060 ATRIA, Finland A TRIA SWEDEN Head office: Löfströms allé 5 SE-172 66 Sundbyberg, Sweden Tel. +46 10 482 30 00 kontakt@atria.com firstname.lastname@atria.com www.atria.se Deli & Export Nellickevägen 20 B SE-412 63 Göteborg, Sweden Tel. +46 10 482 30 00 Out-of-Home Florettgatan 18 SE-254 67 Helsingborg, Sweden Tel. +46 10 482 30 00 Commercial functions: Läkkisepäntie 23 FI-00620 Helsinki, Finland Other units: Rahikkatie 95 FI-61850 Kauhajoki, Finland Rantapuisto 47 FI-30100 Forssa, Finland Suluntie 1 FI-40340 Jyväskylä, Finland Domretor Oy Leipomonkuja 6 FI-62200 Kauhava, Finland Kaivon Liha Kaunismaa Oy Kaarningonkatu 8-12 FI-20740 Turku, Finland Ab Korv-Görans Kebab Oy Yrittäjäntie 24 FI-68600 Pietarsaari, Finland Other sites: Sockenvägen 40 SE-697 80 Sköllersta Sweden Furumovägen 110 SE-294 76 Sölvesborg Sweden Hjälmarydsvägen 2 SE-573 38 Tranås Sweden Maskingatan 1 SE-511 62 Skene Sweden Johannelundsgatan 44 SE-506 40 Borås Sweden Östanåkravägen 2 SE-342 62 Moheda Sweden Fordonsgatan 3 SE-692 71 Kumla Sweden Snickarvägen 9 SE-153 35 Järnä Sweden Atria Concept Spółka z o.o Ul.Czestochowska 24 32-085 Modlnica, Poland Tel. +48 12 661 20 33 A TRIA DENMARK Langmarksvej 1 DK-8700 Horsens Denmark Tel. +45 76 28 25 00 Aage Jensen Bakken 1 DK-8700 Horsens, Denmark Tel. +45 76 28 25 00 kontakt@atria.dk firstname.lastname@atria.com www.atria.dk A TRIA ESTONIA Atria Eesti AS Metsa str. 19 EE-68206 Valga, Estonia Tel. +372 767 9900 Valukoja 8 EE-11415 Tallinn Estonia info.estonia@atria.com firstname.lastname@atria.com www.atria.ee 56INVESTOR INFORMATION ATRIA ’S YEAR 2025CONTENT A TRIA 2025 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain A TRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as a part of strategy Atria as an employer BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT INVESTOR INFORMA TION Atria as an investment Contacts
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WWW .A TRIA.COM
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BOARD OF DIRECTORS’ REPORT , SUST AINABILITY ST A TE- MENT AND FINANCIAL ST A TEMENTS 2025 ATRIA ’S YEAR 2025 GOVERNANCE 2025BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025
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CONTENTS BOARD OF DIRECTORS’ REPORT ...................... 3 Overview of 2025 ............................................................................4 Key figures .......................................................................................6 Financing and liquidity ..................................................................6 Strategy, goals and value chain ......................................................7 Stakeholders’ interests and views ................................................10 Research and development ..........................................................11 Events after the period under review .........................................12 Risks and risk management .........................................................12 Governance and operations .........................................................18 Related-party loans .......................................................................18 Personnel average, FTE ................................................................18 Incentive programmes for management and key personnel ...19 Outlook for 2026 ...........................................................................20 Flagging notifications ...................................................................20 Atria Plc’s share capital .................................................................20 Valid authorisations to acquire the company’s own shares or issue shares, grant special rights, and make donations .......20 Distributable funds and the Board of Directors’ proposal for profit distribution ...................................................................21 Information about the shares and shareholders .......................22 Key figures .....................................................................................24 Calculation formulas for key financial figures ..........................25 Items affecting comparability of result .......................................27 S U STAI NAB I LIT Y STATE M E NT .......................28 CONSOLIDA TED FINANCIAL STATE M E NTS (I FRS) .......................................99 Consolidated financial statements ............................................100 Consolidated balance sheet .......................................................101 Statement of changes in the Group’s equity .............................102 Consolidated cash flow statement ............................................103 Notes to the consolidated financial statements .......................104 PARENT COMPANY’S FINANCIAL STATE M E NTS (FAS) ...................................... 143 Income statement ........................................................................144 Balance sheet ...............................................................................145 Cash flow statement ...................................................................146 Notes to the financial statements ..............................................147 SIGNATURES TO THE FINANCIAL STATE M E NTS ................................................ 155 AUDITOR’S REPORT ...................................... 156 This part of the Annual Report in PDF format is not an xHTML document compliant with the ESEF (European Single Electronic Format) regulation. The Board of Directors’ Report, Sustainability Statement and Financial Statements 2025 in accordance with ESEF regulations are available electronically as an xHTML document in Finnish language at atria.com/sijoittajat/taloustieto/vuosikertomukset Atria’s Annual Report 2025 consists of three parts: Atria’s year 2025 Governance 2025 Board of Directors’ Report, Sustainability Statement and Financial Statements 2025 ATR IA .COM All parts are found on Atria’s website:
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BOARD OF DIRECTORS’ REPORT CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025 3BOARD OF DIRECTORS’ REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 “The year 2025 was strong for Atria and in many ways a success. Both the net sales and adjusted EBIT reached their highest levels in the Group’s history, reflecting our organisation’s great performance and the effectiveness of the strategic choices made. Atria Group’s net sales increased to EUR 1,813.7 million. Growth of EUR 58.4 million was achieved compared to the previous year. Atria Sweden’s net sales amounted to EUR 392.7 million, increasing by EUR 32.5 million year-on-year. Sales to the retail trade and Foodservice customers developed favourably. The retail markets for fresh poultry meat and convenience foods have been growing strongly in Sweden. Atria has been able to increase its sales in the growing market. The acquisition of Gooh! in May 2024 increased net sales. The stronger exchange rate for the Swedish krona also increased the net sales in euros. Atria Finland’s net sales were EUR 1,319.6 million, with an increase of EUR 24.0 million year -on-year. The strong sales growth in H2 reversed the downward trend in net sales seen at the beginning of the year. Sales to the retail trade, in particular, increased towards the end of the year. Sales to export and industrial customers, as well as feed sales, were higher than in the previous year. The new nutrition recommendations published at the end of 2024 had a negative impact on consumer demand for meat products, but the decline in demand at the begi nning of the year levelled off towards the end of the year. The Finnish Food Workers' Union’s strike in April and the related overtime and shift change bans had a negative impact on the net sales of the reporting period. Atria Denmark & Estonia’s net sales were EUR 124.8 million, showing a decrease of EUR 1.1 million year -on-year. Problems with the availability of meat raw material caused by African swine fever outbreaks in Estonia weighed down Atria Estonia’s net sales. Atria Denmark’s net sales grew thanks to improved sales volumes, especially to export customers. Atria Group’s adjusted EBIT was EUR 69.9 million, up by EUR 4.5 million from the previous year. In 2025, EBIT was EUR 64.0 million (EUR 66.4 million). Atria Sweden’s EBIT grew by EUR 3.8 million from the previous year, amounting to EUR 8.3 million. The company’s performance was boosted by successful sales and marketing measures, an improved sales mix, and increased efficiency in production and logistics. Atria Finland’s adjusted EBIT was EUR 62.2 million, up by EUR 1.8 million year-on-year. The good performance in 2025 resulted from improved efficiency in poultry production and the concentration of production in the new poultry plant in Nurmo. In addition, the growth of net sales in H2, along with the start of chicken exports to China at the end of the year, were key drivers of the improved EBIT. Atria divested the Kuopio plant site, and site restoration was initiated. As a result, a non -recurring expense of EUR 5.9 million, mainly with cash effect , was recorded in the last quarter of 2025. Leaving the plant site will bring Atria annual savings of approximately EUR 0.5 million. Atria Denmark & Estonia’s EBIT was EUR 4.9 million, which was EUR 0.3 million lower than in the comparison period. The decrease in EBIT was due to the detection of swine fever infections at Atria’s pig farms in Estonia, which caused additional costs and market disruptions, as well as problems with the availability of meat raw material. During the reporting period, Atria Denmark launched projects to improve production efficiency and productivity. Despite large investments, the balance sheet was at the planned level. The equity ratio was 45.7% (43.2%), while the strategic target was 40%. Atria’s net gearing ratio was also good, at 48.1% (61.8%). The average interest rate on loans at the end of the year was 3.36%, compared to 3.76% in the previous year. Atria has reduced its interest rate risk by dividi ng financing into instruments with variable and fixed interest rates, and by hedging with interest rate derivatives. At the end of the year, fixed rate debt represented 47.6% of the total loan portfolio . The Group’s liquidity remained good and was secured by undrawn committed credit facilities of EUR 50 million at the end of the year. These were not used at all during the financial period. The Group also has a EUR 200 million commercial paper programme, which was used for short-term financing. In Atria’s history, 2025 was a significant year for strategic investment decisions and improving sustainability. The company continued its determined work for a carbon -neutral food chain and strengthened its position as the winning Northern European food company. The main themes of the year were the modernisation of convenience food production, green transition energy solutions, major lifecycle investments, and numerous consumer -oriented product innovations. Investments and sustainability In 2025, Atria's largest project launch was the modernisation of the Nurmo production plant. The company launched an investment of EUR 82.4 million, covering the modernisation of convenience food production and the improvement of energy efficiency. The project modernises the production processes and makes heat production carbon dioxide -free. This investment will reduce Atria's carbon dioxide emissions (Scopes 1 and 2) by approximately 32,000 equivalent tonnes, which means almost halving the emissions from the 2024 level. Energy consumption is REPORT BY THE BOARD OF DIRECTORS 1 JANUARY – 31 DECEMBER 2025 OVERVIEW OF 2025: ATRIA HAD ANOTHER STRONG YEAR – NET SALES AND ADJUSTED EBIT GREW ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 “The year 2025 was strong for Atria and in many ways a success. Both the net sales and adjusted EBIT reached their highest levels in the Group’s history, reflecting our organisation’s great performance and the effectiveness of the strategic choices made. Atria Group’s net sales increased to EUR 1,813.7 million. Growth of EUR 58.4 million was achieved compared to the previous year. Atria Sweden’s net sales amounted to EUR 392.7 million, increasing by EUR 32.5 million year-on-year. Sales to the retail trade and Foodservice customers developed favourably. The retail markets for fresh poultry meat and convenience foods have been growing strongly in Sweden. Atria has been able to increase its sales in the growing market. The acquisition of Gooh! in May 2024 increased net sales. The stronger exchange rate for the Swedish krona also increased the net sales in euros. Atria Finland’s net sales were EUR 1,319.6 million, with an increase of EUR 24.0 million year -on-year. The strong sales growth in H2 reversed the downward trend in net sales seen at the beginning of the year. Sales to the retail trade, in particular, increased towards the end of the year. Sales to export and industrial customers, as well as feed sales, were higher than in the previous year. The new nutrition recommendations published at the end of 2024 had a negative impact on consumer demand for meat products, but the decline in demand at the begi nning of the year levelled off towards the end of the year. The Finnish Food Workers' Union’s strike in April and the related overtime and shift change bans had a negative impact on the net sales of the reporting period. Atria Denmark & Estonia’s net sales were EUR 124.8 million, showing a decrease of EUR 1.1 million year -on-year. Problems with the availability of meat raw material caused by African swine fever outbreaks in Estonia weighed down Atria Estonia’s net sales. Atria Denmark’s net sales grew thanks to improved sales volumes, especially to export customers. Atria Group’s adjusted EBIT was EUR 69.9 million, up by EUR 4.5 million from the previous year. In 2025, EBIT was EUR 64.0 million (EUR 66.4 million). Atria Sweden’s EBIT grew by EUR 3.8 million from the previous year, amounting to EUR 8.3 million. The company’s performance was boosted by successful sales and marketing measures, an improved sales mix, and increased efficiency in production and logistics. Atria Finland’s adjusted EBIT was EUR 62.2 million, up by EUR 1.8 million year-on-year. The good performance in 2025 resulted from improved efficiency in poultry production and the concentration of production in the new poultry plant in Nurmo. In addition, the growth of net sales in H2, along with the start of chicken exports to China at the end of the year, were key drivers of the improved EBIT. Atria divested the Kuopio plant site, and site restoration was initiated. As a result, a non -recurring expense of EUR 5.9 million, mainly with cash effect , was recorded in the last quarter of 2025. Leaving the plant site will bring Atria annual savings of approximately EUR 0.5 million. Atria Denmark & Estonia’s EBIT was EUR 4.9 million, which was EUR 0.3 million lower than in the comparison period. The decrease in EBIT was due to the detection of swine fever infections at Atria’s pig farms in Estonia, which caused additional costs and market disruptions, as well as problems with the availability of meat raw material. During the reporting period, Atria Denmark launched projects to improve production efficiency and productivity. Despite large investments, the balance sheet was at the planned level. The equity ratio was 45.7% (43.2%), while the strategic target was 40%. Atria’s net gearing ratio was also good, at 48.1% (61.8%). The average interest rate on loans at the end of the year was 3.36%, compared to 3.76% in the previous year. Atria has reduced its interest rate risk by dividi ng financing into instruments with variable and fixed interest rates, and by hedging with interest rate derivatives. At the end of the year, fixed rate debt represented 47.6% of the total loan portfolio . The Group’s liquidity remained good and was secured by undrawn committed credit facilities of EUR 50 million at the end of the year. These were not used at all during the financial period. The Group also has a EUR 200 million commercial paper programme, which was used for short-term financing. In Atria’s history, 2025 was a significant year for strategic investment decisions and improving sustainability. The company continued its determined work for a carbon -neutral food chain and strengthened its position as the winning Northern European food company. The main themes of the year were the modernisation of convenience food production, green transition energy solutions, major lifecycle investments, and numerous consumer -oriented product innovations. Investments and sustainability In 2025, Atria's largest project launch was the modernisation of the Nurmo production plant. The company launched an investment of EUR 82.4 million, covering the modernisation of convenience food production and the improvement of energy efficiency. The project modernises the production processes and makes heat production carbon dioxide -free. This investment will reduce Atria's carbon dioxide emissions (Scopes 1 and 2) by approximately 32,000 equivalent tonnes, which means almost halving the emissions from the 2024 level. Energy consumption is REPORT BY THE BOARD OF DIRECTORS 1 JANUARY – 31 DECEMBER 2025 OVERVIEW OF 2025: ATRIA HAD ANOTHER STRONG YEAR – NET SALES AND ADJUSTED EBIT GREW 4BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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5 ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 estimated to decrease by 50,000 MWh, which equals 21% of Atria Finland's energy use. In addition, the energy solutions will bring annual savings of more than EUR 5 million. The construction of the new facility began in November. Business Finland granted clean transition aid of EUR 24.7 million to the project. The modernised convenience food factory enables the development of innovative products, supporting Atria’s strategy of leading the way in sustainable food production. The investment in the convenience food facility is part of a wider programme of approximately EUR 110 million. Its first phase started in the spring with an investment of EUR 7 million in pancake production. The expansion of the pancake production facilities will be completed in the autumn of 2026. In addition, Atria will be investing EUR 16 million in the development of the cattle slaughterhouse in Kauhajoki. This project aims to increase production capacity and process efficiency, as well as meeting the growing demand for domestic beef. The investment includes the introduction of new technology that improves animal welfare and increases transparency in production. The Kauhajoki project supports Atria’s strategy of strengthening the position of domestically produced meat and ensuring a competitive and sustainable value chain. At the end of the year, Atria launched an investment of EUR 23 million in the production of meat products at its facility in Sköllersta in Sweden. The investment includes a continuously operating new production line, as well as an expansion and upgrade of the entire production site. This major upgrade will result in the replacement of old production equipment, and the improvement of energy efficiency, product quality and delivery reliability. The reduction of greenhouse gas emissions across the food chain is a key environmental goal for Atria’s sustainability work. This is reflected in the Group’s updated TOGETHER 2030 strategy, whose strategic targets include emissions reduction targets based on the Science Based Targets. In 2025, the company took further significant steps towards reaching its emissions reduction targets. In the company’s own operations (Scopes 1 and 2), the focus was on energy efficiency and energy quality. Several investments were implemented and advanced, including heat recovery at the modern poultry plant, investments in electric boilers, and designing a future convenience-food factory – these solutions will reduce emissions over the long term. African swine fever in Estonia In the summer of 2025, African swine fever was detected at two of Atria’s pig farms in Estonia. The first infection was found in late June, and the second in August. The infections were handled in close cooperation with the Estonian authorities. The facili ties were immediately quarantined, and the authorities carried out thorough cleaning and disinfection. Production is expected to return to normal in the spring of 2026. Thanks to the Estonian state compensation system, the direct financial impact remained limited; Atria was left with costs of approximately EUR 0.5 million, which were recorded in the second and third quarters. Changes in Atria Group Management Team When Merja Leino, PhD, Atria Group’s long -term Executive Vice President, Sustainability, retires in the summer of 2026, Kati Janhunen, MSc (Econ.), will take on the positions of Executive Vice President, Sustainability, and Atria Group Management Team member. Janhunen joined Atria 1 February 2026 and will start in the position no later than 1 June 2026. Tauno Perälä, MSc (Tech.), was appointed to lead the new Group Industrial Operations function of Atria Group and started in his position and as a member of Atria Group Management Team on 1 October 2025. Since joining Atria Finland in 2011, Perälä has served in demanding production leadership positions. Alongside his new responsibilities, he will continue to serve as S enior Vice President of Industrial Operations at Atria Finland and as a member of Atria Finland’s Management Team. Strategy In 2025, Atria announced its new strategy for 2025 –2030. Called TOGETHER 2030, the strategy highlights the importance of working together to achieve our vision – to be the Winning Northern European Food Company. Our strategy focuses on ensuring the competitiveness of our core business, allocating investments and resources to rapidly growing product categories, increasing cross-border cooperation to exploit economies of scale and renewing ourselves to meet future needs. Sustainable business is part of Atria’s strategy and actions. For 2025, Atria prepared its sustainability statement in accordance with the CSRD (Corporate Sustainability Reporting Directive). The sustainability statement is published as part of the Report by the Board of Directors under “Sustainability Statement”. 5BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 KEY FIGURES EUR million 2025 2024 2023 Net sales 1,813.7 1,755.4 1,752.7 EBIT 64.0 66.4 0.4 EBIT, % 3.5 3.8 0.0 Adjusted EBIT 69.9 65.4 49.6 Adjusted EBIT, % 3.9 3.7 2.8 Earnings per share, EUR 1.44 1.41 -0.70 Adjusted earnings per share, EUR 1.61 1.38 0.98 Dividend / share, EUR * 0.75 0.69 0.60 Dividend / profit, % * 52.0 49.0 -85.4 Adjusted dividend / profit, % * 46.6 50.0 61.2 Return on equity, % 9.9 10.3 -3.5 Adjusted return on equity, % 11.0 10.1 7.3 Equity ratio, % 45.7 43.2 41.7 Net gearing, % 48.1 61.8 66.7 The Board proposes to distribute a dividend of EUR 0.75 per share for the year 2025. The key figures in their entirety are presented on page 24 -26. FINANCING AND LIQUIDITY The downward trend in Euribor rates continued in 2025. The 6 -month Euribor, the main reference rate for Atria’s loans, came down from around 2.6% at the beginning of the year to around 2.1% by the end of the year. Financing terms were normal for availabili ty, loan periods and margins. On 31 December 2025, the Group’s interest -bearing net debt amounted to EUR 218.7 million (EUR 261.8 million). During the reporting period, the Group’s free cash flow was EUR 69.8 million (EUR 41.6 million). Cash flow from operating activities was EUR 120.0 million (EUR 92.4 million), showing an increase of EUR 27.6 million from the previous year. The improvement was supported by a decrease in net working capital and financial expenses. Cash flow from investment activities was EUR -50.2 million (EUR -50.8 million). At the end of the reporting period, the equity ratio was 45.7% (43.2%). The change in the fair value of the effective portion of derivative instruments designated as hedges and included in equity amounted to EUR 1.1 million (EUR -4.9 million). In June, Atria Plc repaid a EUR 30 million loan whose original maturity date was 25 September 2027. The Group’s liquidity remained good during the reporting period. On 31 December 2025, the Group's undrawn committed credit facilities amounted to EUR 50.0 million (EUR 50.0 million), and no credit had been drawn from them during 2025. Atria also has a EUR 200 million commercial paper programme, which was used for short-term financing. At the end of the reporting period, the average maturity of loans and committed credit facilities was 3 years 7 months (4 years 1 month). Atria has hedged against rising interest rates with interest rate derivatives, which stood at EUR 110 million on 31 December 2025 (EUR 90 million). An interest rate swap of EUR 30 million maturing in 2027, which had been allocated to the aforementioned EUR 30 million repaid loan, was terminated in May and, at the same time, a new EUR 50 million interest rate swap was concluded and allocated to the EUR 50 million loan maturing in 2030. Interest income realised as a result of the terminated interest rate swap agreement amounted to approximately EUR 1 million in the second quarter. At the end of the year, the Group’s fixed-interest debt represented 47.6% (34.9%) of the loan portfolio. Some loans have been converted into fixed interest -rate loans with derivatives valued at market value. Net financing costs amounted to EUR -10.7 million (EUR -15.4 million). On 31 December 2025, the average interest rate on the loan portfolio was 3.36% (3.76%). 6BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 TOGETHER 2030: ATRIA ANNOUNCED ITS AMBITIOUS NEW STRATEGY FOR 2025–2030 ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 TOGETHER 2030: ATRIA ANNOUNCED ITS AMBITIOUS NEW STRATEGY FOR 2025–2030 7BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 In September, Atria announced its new strategy for 2025 –2030. Called TOGETHER 2030, the strategy highlights the importance of working together to achieve Atria’s vision – to be the Winning Northern European Food Company. The strategy focuses on ensuring th e competitiveness of our core business, allocating investments and resources to rapidly growing product categories, increasing cross -border cooperation to exploit economies of scale, and renewing ourselves to meet future needs. Atria starts the TOGETHER 2030 strategy period from a strong position. The company has more than 120 years of tradition, strong economic performance and skilled, motivated people. The new strategy is a managed systematic development path – built on a strong core business and proactive exploitation of future opportunities. The new strategy’s financial objectives remain largely unchanged. Growth -related metrics have been refined: the Group’s net sales target – more than EUR 2 billion – has been added to the package, and the target for return on equity has been increased to 12 % from the previous target of 10%. We pursue our objectives through four key strategic actions (Big Moves): 1. Grow and Optimise Core Business: Red meat and meat products are a major part of our core business and remain a focus during our next strategy period. The objective is to grow organically and optimise our operational efficiency. 2. Accelerate in Growth Categories: Poultry and convenience foods are the fastest growing product categories in our portfolio, and we expect to grow fast in them. We have set ourselves up to seize profitable growth opportunities and will invest relatively more into these categories during th e current strategy period. 3. Collaborate to Grow and Scale our Operations We have a strong local presence in our four markets. We drive collaboration and scale to become more efficient and get the most from our assets. Areas for increased collaboration include cross -border scale, net revenue management and product exports. 4. Renew for the Future In addition to focusing on growth, we must continuously renew ourselves to secure our future competitiveness. Our renewal focus is on sustainability, being the best possible partner for our owner - producers, developing our unique food chain with technology, continuing to develop our healthy food solutions, and readiness to expand to alternative proteins. We also strengthen our employees’ knowledge and skills for growth. Facilitators of Atria’s strategy: • ONE Atria culture • Commercial excellence • Efficiency, digital & AI • Safety, people & communication Two new functions were established within Atria Group to support our strategy: • Atria Group Industrial Operations was established to support collaboration between business areas. The function aims to promote production efficiency, the Group’s internal supply chain, and the planning and implementation of investments, for example. • Atria Group Product Export supports the objective of increasing product exports outside the core market. Its purpose is to create new product export business and strengthen collaboration between business areas in product export. 8BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 STRATEGY 2021–2025: WINNING NORTHERN EUROPEAN FOOD COMPANY A new “TOGETHER 2030” strategy was published in September. The previous strategy period “Winning Northern European Food Company 2021 – 2025” concluded at the end of 2025. The previous strategy was successful. . ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 STRATEGY 2021–2025: WINNING NORTHERN EUROPEAN FOOD COMPANY A new “TOGETHER 2030” strategy was published in September. The previous strategy period “Winning Northern European Food Company 2021 – 2025” concluded at the end of 2025. The previous strategy was successful. . 9BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 ACHIEVEMENT OF FINANCIAL TARGETS SUSTAINABILITY GOALS Atria Group’s sustainability goals and their achievement are described in the following sections of the Sustainability Statement: • Climate change • Biodiversity and ecosystems • Circular economy • Own workforce • Consumers and end users • Business conduct BUSINESS MODEL AND VALUE CHAIN Atria Group's business model and value chain are described in detail in the general information section of the Sustainability Statement. Atria was listed on the stock exchange in 1991. The company has two share classes: Class KII and Class A, which is a listed share. Each Class KII share entitles its holder to ten (10) votes at a General Meeting, and each Class A share to one (1) vote. Clas s A shares have a right of priority to a dividend of EUR 0.17, after which Class KII shares are paid a dividend of up to EUR 0.17. If distributable dividends remain after this, Class A and Class KII shares entitle their holders to an equal right to a dividend. The shareholders that own Class KII shares are Itikka Cooperative, Lihakunta and Pohjanmaan Liha. The aforementioned cooperatives also own more than 50% of the Class A shares. Atria Plc is a Finnish limited liability company, and the responsibilities and obligations of its governing bodies are determined by Finnish law. The parent company, Atria Plc, and its subsidiaries form the international Atria Group. The company is domicil ed in Kuopio. Responsibility for the administration and operations of Atria Group lies with the governing bodies of the parent, Atria Plc. These are the Supervisory Board, the Board of Directors and the CEO. About 72% of Atria’s net sales come from Finland, 21% from Sweden, and 7% from Denmark & Estonia. Atria also engages in export activities. In 2025, Atria exported its products to 25 countries. The operating environment is changing rapidly, although the spe ed and focus of change varies between business areas. As a financially strong, profitable company, Atria can renew and respond to the continuous changes in all its business areas in line with its strategic goals. Factors affecting Atria’s changing operating environment: • Growing consumer awareness of an ecologically healthy and sustainable lifestyle and animal welfare • Shift in protein demand from red meat to poultry and plant -based alternatives • Increased demand for convenience food, ready -to-eat ingredients and snacks • Growing popularity of the Foodservice channel, private labels and digital channels • Increased economic instability, uncertainty, protectionism and localism STAKEHOLDERS’ INTERESTS AND VIEWS Atria develops its operations in open and tight interaction with its stakeholders. Stakeholder engagement and the mapping of stakeholder expectations take place through regular and structured interaction, the use of public and/or purchased research data, a nd legislation and standards, for example. The nature of the interaction depends on the stakeholder group’s influence and significance for Atria’s business. Our stakeholders’ interests and views are presented in detail in the stakeholder table included in the general information section of the Sustainability Statement. Results Targets 2025 2024 2023 Net sales EUR 2 000 million 1,813.7 1,755.4 1,752.7 EBIT 5% 1) 3.9% 3.7% 2.8% Equity ratio 40% 45.7% 43.2% 41.7% Return on equity (ROE) 12% 1) 11.0% 10.1% 7.3% Capital distribution of the profit for the period 50% 1) 2) 46.6% 50.0% 61.2% 1) Figures are adjusted for non-recurring items, key figure calculation formulas on pages 25-26. 2) The Board proposes to distribute a dividend of EUR 0.75 per share for the year 2025. ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 ACHIEVEMENT OF FINANCIAL TARGETS SUSTAINABILITY GOALS Atria Group’s sustainability goals and their achievement are described in the following sections of the Sustainability Statement: • Climate change • Biodiversity and ecosystems • Circular economy • Own workforce • Consumers and end users • Business conduct BUSINESS MODEL AND VALUE CHAIN Atria Group's business model and value chain are described in detail in the general information section of the Sustainability Statement. Atria was listed on the stock exchange in 1991. The company has two share classes: Class KII and Class A, which is a listed share. Each Class KII share entitles its holder to ten (10) votes at a General Meeting, and each Class A share to one (1) vote. Clas s A shares have a right of priority to a dividend of EUR 0.17, after which Class KII shares are paid a dividend of up to EUR 0.17. If distributable dividends remain after this, Class A and Class KII shares entitle their holders to an equal right to a dividend. The shareholders that own Class KII shares are Itikka Cooperative, Lihakunta and Pohjanmaan Liha. The aforementioned cooperatives also own more than 50% of the Class A shares. Atria Plc is a Finnish limited liability company, and the responsibilities and obligations of its governing bodies are determined by Finnish law. The parent company, Atria Plc, and its subsidiaries form the international Atria Group. The company is domicil ed in Kuopio. Responsibility for the administration and operations of Atria Group lies with the governing bodies of the parent, Atria Plc. These are the Supervisory Board, the Board of Directors and the CEO. About 72% of Atria’s net sales come from Finland, 21% from Sweden, and 7% from Denmark & Estonia. Atria also engages in export activities. In 2025, Atria exported its products to 25 countries. The operating environment is changing rapidly, although the spe ed and focus of change varies between business areas. As a financially strong, profitable company, Atria can renew and respond to the continuous changes in all its business areas in line with its strategic goals. Factors affecting Atria’s changing operating environment: • Growing consumer awareness of an ecologically healthy and sustainable lifestyle and animal welfare • Shift in protein demand from red meat to poultry and plant -based alternatives • Increased demand for convenience food, ready -to-eat ingredients and snacks • Growing popularity of the Foodservice channel, private labels and digital channels • Increased economic instability, uncertainty, protectionism and localism STAKEHOLDERS’ INTERESTS AND VIEWS Atria develops its operations in open and tight interaction with its stakeholders. Stakeholder engagement and the mapping of stakeholder expectations take place through regular and structured interaction, the use of public and/or purchased research data, a nd legislation and standards, for example. The nature of the interaction depends on the stakeholder group’s influence and significance for Atria’s business. Our stakeholders’ interests and views are presented in detail in the stakeholder table included in the general information section of the Sustainability Statement. Results Targets 2025 2024 2023 Net sales EUR 2 000 million 1,813.7 1,755.4 1,752.7 EBIT 5% 1) 3.9% 3.7% 2.8% Equity ratio 40% 45.7% 43.2% 41.7% Return on equity (ROE) 12% 1) 11.0% 10.1% 7.3% Capital distribution of the profit for the period 50% 1) 2) 46.6% 50.0% 61.2% 1) Figures are adjusted for non-recurring items, key figure calculation formulas on pages 25-26. 2) The Board proposes to distribute a dividend of EUR 0.75 per share for the year 2025. 10BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 RESEARCH AND PRODUCT DEVELOPMENT In 2025, Atria invested EUR 14.8 million in research and product development. The investments were at the same level as in the previous year. Atria seeks to serve its stakeholders by making extensive use of research and product development in its business operations to further improve existing products and develop new ones. Atria’s main product categories are fresh and consumer -packed meat, poultry products, meat products, such as sausages and cold cuts, and convenience food. Atria collects market insight and consumer behaviour data through both continuous established processes and tailored studies and surveys when necessary. In recent years, the methods and calculations for predicting market behaviour have developed in a way t hat enables increasingly specific projections. This also means that forecasts for smaller product segments and trade channels are available. The data used in commercial processes and investment planning, for example. Atria Group launched 208 new products during the reporting period. The number of new products also includes new packaging and product support innovations. Product innovations by business area: • Atria Finland: 69 • Atria Sweden: 63 • Atria Denmark & Estonia: 76 Atria Finland launched 69 new retail and Foodservice products in 2025. They accounted for approximately 4.8% of net sales. The banana quark pancake, an addition to the quark pancake success story, exceeded expectations and was one of the best -selling new products of the year. Sriracha pizzas linked to the Street Food trend added new flavours to the established small pizza segment. Launched in the spring, Hornet Wing Duo and Nacho Bites offered solutions for easy delicious meals and have increased the sales of the Hornet family as a whole. Wilhelm Chekoni Grill Sausage combines the consumers’ favourite flavours of Cheddar cheese and bacon. The product was the second be st-selling new Wilhelm sausage in recorded history. Atria Finland is involved in research projects related to nutritional health, and one of the focus areas of its product development is strengthening the supply of healthier food. In 2025, Atria Finland la unched 28 new Heart Label products, and there are currently 201 Heart Label products in the selection. Atria Sweden launched 63 new brand products in 2025. These products accounted for 3.2% of net sales. Lönneberga BBQ chicken skewers were the cornerstone of Atria’s sales growth in the poultry category. In 2025, Atria continued to grow in both volume and market share t hanks to the good sales of new poultry products. Atria’s share of the Swedish Foodservice market grew faster than the market. Sales increased in both frozen and fresh products, as well as in cooked poultry products. One of the highlights of 2025 was the success of the Sibylla Chicken Red Bell chicken sau sage at the Stockholm Sausage Festival, where it was voted as the best sausage of the event. Sibylla Chicken Red Bell is a tasty chicken sausage with a high meat content, natural intestine casing and alder smoke flavour. Atria Sweden’s product selection includes 153 Keyhole products. The Keyhole nutrition label guides consumers to make healthier choices. The label indicates that a product is a better alte rnative to other products in the same product category in terms of the following criteria: it has less salt, less sugar, less and better quality fat, and more fibre and wholegrain. Atria Denmark & Estonia launched 76 new products in 2025. They accounted for 8.8% of net sales. In 2025, Atria Denmark launched 32 new products. Ten were private -label products, five Aalbæk products, and 17 3-Stjernet products. Aalbæk has a strong position in the premium market, while 3 - Stjernet is well positioned in the upper middle- class market. Overall, 3-Stjernet is a strong traditional brand, with a high 98% recognition rate and strong popularity among families with children. In 2025, Atria Denmark focused on both launching new packaging for whole meat products and improving animal welfare for poultry. Five poultry products were launched, all bearing the Bedre Dyrevelfærd – Better Animal Welfare label. Atria Denmark's product selection includes 20 products with the Keyhole label. Atria Estonia launched 44 new products in 2025. Its most successful new products of 2025 were Maks & Moorits products: Maks & Moorits Classic fully smoked sausage, Maks & Moorits home -style patties with creamy cheese filling, Maks & Moorits American -style grilled meat and Maks & Moorits Greek -style chicken sausage. According to Kantar Emor’s annual consumer surveys, Atria Estonia’s flagship brand Maks & Moorits has consistently been the most popular meat product brand in Estonia. As the leader in its product category, Maks & Moorits is also ranked the second most pop ular food and beverage brand in Estonia – a position that reflects long-term consumer confidence and strong brand awareness. Not only is Atria popular, but its commitment to sustainable production in Estonia has been recognised. In 2025, the Sustainable Brand Index ranked Maks & Moorits the most sustainable meat product brand in Estonia, highlighting our consistent efforts for e nvironmental responsibility, transparency and high - quality local production. Percentage of net sales spent on research and product development in Atria Group in 2023 – 2025: EUR million 2025 2024 2023 Research and product development 14.8 14.8 14.4 % of net sales 0.8% 0.8% 0.8% ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 RESEARCH AND PRODUCT DEVELOPMENT In 2025, Atria invested EUR 14.8 million in research and product development. The investments were at the same level as in the previous year. Atria seeks to serve its stakeholders by making extensive use of research and product development in its business operations to further improve existing products and develop new ones. Atria’s main product categories are fresh and consumer -packed meat, poultry products, meat products, such as sausages and cold cuts, and convenience food. Atria collects market insight and consumer behaviour data through both continuous established processes and tailored studies and surveys when necessary. In recent years, the methods and calculations for predicting market behaviour have developed in a way t hat enables increasingly specific projections. This also means that forecasts for smaller product segments and trade channels are available. The data used in commercial processes and investment planning, for example. Atria Group launched 208 new products during the reporting period. The number of new products also includes new packaging and product support innovations. Product innovations by business area: • Atria Finland: 69 • Atria Sweden: 63 • Atria Denmark & Estonia: 76 Atria Finland launched 69 new retail and Foodservice products in 2025. They accounted for approximately 4.8% of net sales. The banana quark pancake, an addition to the quark pancake success story, exceeded expectations and was one of the best -selling new products of the year. Sriracha pizzas linked to the Street Food trend added new flavours to the established small pizza segment. Launched in the spring, Hornet Wing Duo and Nacho Bites offered solutions for easy delicious meals and have increased the sales of the Hornet family as a whole. Wilhelm Chekoni Grill Sausage combines the consumers’ favourite flavours of Cheddar cheese and bacon. The product was the second be st-selling new Wilhelm sausage in recorded history. Atria Finland is involved in research projects related to nutritional health, and one of the focus areas of its product development is strengthening the supply of healthier food. In 2025, Atria Finland la unched 28 new Heart Label products, and there are currently 201 Heart Label products in the selection. Atria Sweden launched 63 new brand products in 2025. These products accounted for 3.2% of net sales. Lönneberga BBQ chicken skewers were the cornerstone of Atria’s sales growth in the poultry category. In 2025, Atria continued to grow in both volume and market share t hanks to the good sales of new poultry products. Atria’s share of the Swedish Foodservice market grew faster than the market. Sales increased in both frozen and fresh products, as well as in cooked poultry products. One of the highlights of 2025 was the success of the Sibylla Chicken Red Bell chicken sau sage at the Stockholm Sausage Festival, where it was voted as the best sausage of the event. Sibylla Chicken Red Bell is a tasty chicken sausage with a high meat content, natural intestine casing and alder smoke flavour. Atria Sweden’s product selection includes 153 Keyhole products. The Keyhole nutrition label guides consumers to make healthier choices. The label indicates that a product is a better alte rnative to other products in the same product category in terms of the following criteria: it has less salt, less sugar, less and better quality fat, and more fibre and wholegrain. Atria Denmark & Estonia launched 76 new products in 2025. They accounted for 8.8% of net sales. In 2025, Atria Denmark launched 32 new products. Ten were private -label products, five Aalbæk products, and 17 3-Stjernet products. Aalbæk has a strong position in the premium market, while 3 - Stjernet is well positioned in the upper middle- class market. Overall, 3-Stjernet is a strong traditional brand, with a high 98% recognition rate and strong popularity among families with children. In 2025, Atria Denmark focused on both launching new packaging for whole meat products and improving animal welfare for poultry. Five poultry products were launched, all bearing the Bedre Dyrevelfærd – Better Animal Welfare label. Atria Denmark's product selection includes 20 products with the Keyhole label. Atria Estonia launched 44 new products in 2025. Its most successful new products of 2025 were Maks & Moorits products: Maks & Moorits Classic fully smoked sausage, Maks & Moorits home -style patties with creamy cheese filling, Maks & Moorits American -style grilled meat and Maks & Moorits Greek -style chicken sausage. According to Kantar Emor’s annual consumer surveys, Atria Estonia’s flagship brand Maks & Moorits has consistently been the most popular meat product brand in Estonia. As the leader in its product category, Maks & Moorits is also ranked the second most pop ular food and beverage brand in Estonia – a position that reflects long-term consumer confidence and strong brand awareness. Not only is Atria popular, but its commitment to sustainable production in Estonia has been recognised. In 2025, the Sustainable Brand Index ranked Maks & Moorits the most sustainable meat product brand in Estonia, highlighting our consistent efforts for e nvironmental responsibility, transparency and high - quality local production. Percentage of net sales spent on research and product development in Atria Group in 2023 – 2025: EUR million 2025 2024 2023 Research and product development 14.8 14.8 14.4 % of net sales 0.8% 0.8% 0.8% ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 RESEARCH AND PRODUCT DEVELOPMENT In 2025, Atria invested EUR 14.8 million in research and product development. The investments were at the same level as in the previous year. Atria seeks to serve its stakeholders by making extensive use of research and product development in its business operations to further improve existing products and develop new ones. Atria’s main product categories are fresh and consumer -packed meat, poultry products, meat products, such as sausages and cold cuts, and convenience food. Atria collects market insight and consumer behaviour data through both continuous established processes and tailored studies and surveys when necessary. In recent years, the methods and calculations for predicting market behaviour have developed in a way t hat enables increasingly specific projections. This also means that forecasts for smaller product segments and trade channels are available. The data used in commercial processes and investment planning, for example. Atria Group launched 208 new products during the reporting period. The number of new products also includes new packaging and product support innovations. Product innovations by business area: • Atria Finland: 69 • Atria Sweden: 63 • Atria Denmark & Estonia: 76 Atria Finland launched 69 new retail and Foodservice products in 2025. They accounted for approximately 4.8% of net sales. The banana quark pancake, an addition to the quark pancake success story, exceeded expectations and was one of the best -selling new products of the year. Sriracha pizzas linked to the Street Food trend added new flavours to the established small pizza segment. Launched in the spring, Hornet Wing Duo and Nacho Bites offered solutions for easy delicious meals and have increased the sales of the Hornet family as a whole. Wilhelm Chekoni Grill Sausage combines the consumers’ favourite flavours of Cheddar cheese and bacon. The product was the second be st-selling new Wilhelm sausage in recorded history. Atria Finland is involved in research projects related to nutritional health, and one of the focus areas of its product development is strengthening the supply of healthier food. In 2025, Atria Finland la unched 28 new Heart Label products, and there are currently 201 Heart Label products in the selection. Atria Sweden launched 63 new brand products in 2025. These products accounted for 3.2% of net sales. Lönneberga BBQ chicken skewers were the cornerstone of Atria’s sales growth in the poultry category. In 2025, Atria continued to grow in both volume and market share t hanks to the good sales of new poultry products. Atria’s share of the Swedish Foodservice market grew faster than the market. Sales increased in both frozen and fresh products, as well as in cooked poultry products. One of the highlights of 2025 was the success of the Sibylla Chicken Red Bell chicken sau sage at the Stockholm Sausage Festival, where it was voted as the best sausage of the event. Sibylla Chicken Red Bell is a tasty chicken sausage with a high meat content, natural intestine casing and alder smoke flavour. Atria Sweden’s product selection includes 153 Keyhole products. The Keyhole nutrition label guides consumers to make healthier choices. The label indicates that a product is a better alte rnative to other products in the same product category in terms of the following criteria: it has less salt, less sugar, less and better quality fat, and more fibre and wholegrain. Atria Denmark & Estonia launched 76 new products in 2025. They accounted for 8.8% of net sales. In 2025, Atria Denmark launched 32 new products. Ten were private -label products, five Aalbæk products, and 17 3-Stjernet products. Aalbæk has a strong position in the premium market, while 3 - Stjernet is well positioned in the upper middle- class market. Overall, 3-Stjernet is a strong traditional brand, with a high 98% recognition rate and strong popularity among families with children. In 2025, Atria Denmark focused on both launching new packaging for whole meat products and improving animal welfare for poultry. Five poultry products were launched, all bearing the Bedre Dyrevelfærd – Better Animal Welfare label. Atria Denmark's product selection includes 20 products with the Keyhole label. Atria Estonia launched 44 new products in 2025. Its most successful new products of 2025 were Maks & Moorits products: Maks & Moorits Classic fully smoked sausage, Maks & Moorits home -style patties with creamy cheese filling, Maks & Moorits American -style grilled meat and Maks & Moorits Greek -style chicken sausage. According to Kantar Emor’s annual consumer surveys, Atria Estonia’s flagship brand Maks & Moorits has consistently been the most popular meat product brand in Estonia. As the leader in its product category, Maks & Moorits is also ranked the second most pop ular food and beverage brand in Estonia – a position that reflects long-term consumer confidence and strong brand awareness. Not only is Atria popular, but its commitment to sustainable production in Estonia has been recognised. In 2025, the Sustainable Brand Index ranked Maks & Moorits the most sustainable meat product brand in Estonia, highlighting our consistent efforts for e nvironmental responsibility, transparency and high - quality local production. Percentage of net sales spent on research and product development in Atria Group in 2023 – 2025: EUR million 2025 2024 2023 Research and product development 14.8 14.8 14.4 % of net sales 0.8% 0.8% 0.8% 11BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 EVENTS AFTER THE PERIOD UNDER REVIEW There have been no significant events after the period under review. BUSINESS RISKS DURING THE REPORTING PERIOD AND THE NEAR TERM Atria Group’s business, net sales and result are susceptible to many uncertainties. During the reporting period, uncertainty continued due to both the continuation of the war in Ukraine and the escalation of global geopolitical tensions in the Middle East. Combined with the unstable US tariff policy, these affected market behaviour and co nsumers’ purchasing decisions. China imposed import duties on European pork in September, which affected the pork market, with more products remaining on the European market. The price of pork in Europe therefore fell in the second half of 2025. The pork market is expected to remain unstable for at least the first half of 2026. European beef production has declined in recent years, while consumption has remained unchanged. This is creating an imbalance in the beef market. During the reporting period, animal disease risks in Finland and nearby areas remained moderate. African swine fever was detected in Estonia in the summer. At the moment, the situation is calm, but the risk of the disease remains. The economic and operatio nal impacts of the disease on Atria have not been significant. The foot-and-mouth disease situation in Europe has remained stable. Atria actively monitors the animal disease situation in Europe. Atria has protective measures in place in its own production plants and on its contract farms. The fight against cybercrime and information system disruptions requires continuous development and a proactive approach. Systematic monitoring is key, as it enables the timely detection of threats. The continuous improvement of cybersecurity through syste m upgrades, employee training and the introduction of new technologies is also very important. RISKS AND RISK MANAGEMENT The implementation of Atria’s strategy, the achievement of its goals and sustainable operations call for the identification and management of favourable and unfavourable events that may affect operations. Favourable events improve Atria's result and financ ial position or promote sustainable development. Unfavourable events increase costs and complicate operations. Atria seeks to prevent unfavourable events and their impact on business operations through risk management as part of its day-to-day operations. Atria’s risk management policy and risk management procedures define the goals, principles, responsibilities and authorisations of risk management, as well as operating procedures for risk assessment and reporting. The Board of Directors approves the risk management policy and any changes to it and supervi ses the implementation of the principles specified in the policy. The identification, management, monitoring and reporting of sustainability -related impacts, risks and opportunities are incorporated in Atria's risk management processes. Atria divides risks affecting its operations into four categories: strategic; operational; liability; and financial. Risks of various types are identified and assessed using models and tools in line with Atria's risk management framework. Identified risks and opportunities are categorised, and risk management measures prioritised, in accordance with the Group’s risk management policy, taking their likelihood, financial impacts, risk management measures and changes in the risk environment, among other things, into account. The sustainability impacts, risks and opportunities of the abovementioned types are discussed in more detail in the Sustainability Statement. Strategic risks are related to operational development and the planning and implementation of long - term business decisions, as well as to brands, management systems, resource allocation and the ability to respond to changes in the market environment. Opera tional risks are day-to-day business risks affecting processes, systems and people’s activities, for example. Damage risks result from errors, malfunctions and accidents that occur within Atria or in the market environment and cause damage or losses. Damage risks are managed through risk assessments, business continuity planning and insurance. Financial risks have to do with changes in market prices and the sufficiency of financial assets in the short and medium terms as well as with counterparties’ ability to meet their financial obligations. Financial risks are managed in cooperation with financial institutions and by making use of various financial instruments in minimising risks. The Board of Directors and the members of the Atria Group Management Team are tasked with identifying and assessing strategic and operational risks and considering potential alternatives, as well as implementing risk management within their respective area s of responsibility. Strategic and operational risks, including material impacts, risks and opportunities, are addressed by the Board of Directors and the Management Team at least annually (strategic and operational risks: once a year), and separately for each significant business decision. At the same time, decisions are made about measures related to the management of impacts and risks. In the Group's largest business areas, risk assessment and monitoring are also carried out by specific steering and resp onsibility groups within the business area. The members of these groups include management personnel, and their work is coordinated by the Group's Risk Manager. The Risk Manager reports the results and development measures of the steering and responsibilit y groups, as well as any relevant indicators, at least once a year to the members of the Atria Group Management Team and the Board of Directors. These bodies supervise the risk management activities, setting any objectives and indicators for this work. The Group's Treasury Committee, which consists of the Group's CEO, CFO, Financial Director and Group Controller as permanent members, is in charge of identifying and assessing financial risks and implementing risk management throughout the Group. The work of the Treasury Committee is supervised by the Group's Board of Directors. The findings of risk assessments and internal control ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 RESEARCH AND PRODUCT DEVELOPMENT In 2025, Atria invested EUR 14.8 million in research and product development. The investments were at the same level as in the previous year. Atria seeks to serve its stakeholders by making extensive use of research and product development in its business operations to further improve existing products and develop new ones. Atria’s main product categories are fresh and consumer -packed meat, poultry products, meat products, such as sausages and cold cuts, and convenience food. Atria collects market insight and consumer behaviour data through both continuous established processes and tailored studies and surveys when necessary. In recent years, the methods and calculations for predicting market behaviour have developed in a way t hat enables increasingly specific projections. This also means that forecasts for smaller product segments and trade channels are available. The data used in commercial processes and investment planning, for example. Atria Group launched 208 new products during the reporting period. The number of new products also includes new packaging and product support innovations. Product innovations by business area: • Atria Finland: 69 • Atria Sweden: 63 • Atria Denmark & Estonia: 76 Atria Finland launched 69 new retail and Foodservice products in 2025. They accounted for approximately 4.8% of net sales. The banana quark pancake, an addition to the quark pancake success story, exceeded expectations and was one of the best -selling new products of the year. Sriracha pizzas linked to the Street Food trend added new flavours to the established small pizza segment. Launched in the spring, Hornet Wing Duo and Nacho Bites offered solutions for easy delicious meals and have increased the sales of the Hornet family as a whole. Wilhelm Chekoni Grill Sausage combines the consumers’ favourite flavours of Cheddar cheese and bacon. The product was the second be st-selling new Wilhelm sausage in recorded history. Atria Finland is involved in research projects related to nutritional health, and one of the focus areas of its product development is strengthening the supply of healthier food. In 2025, Atria Finland la unched 28 new Heart Label products, and there are currently 201 Heart Label products in the selection. Atria Sweden launched 63 new brand products in 2025. These products accounted for 3.2% of net sales. Lönneberga BBQ chicken skewers were the cornerstone of Atria’s sales growth in the poultry category. In 2025, Atria continued to grow in both volume and market share t hanks to the good sales of new poultry products. Atria’s share of the Swedish Foodservice market grew faster than the market. Sales increased in both frozen and fresh products, as well as in cooked poultry products. One of the highlights of 2025 was the success of the Sibylla Chicken Red Bell chicken sau sage at the Stockholm Sausage Festival, where it was voted as the best sausage of the event. Sibylla Chicken Red Bell is a tasty chicken sausage with a high meat content, natural intestine casing and alder smoke flavour. Atria Sweden’s product selection includes 153 Keyhole products. The Keyhole nutrition label guides consumers to make healthier choices. The label indicates that a product is a better alte rnative to other products in the same product category in terms of the following criteria: it has less salt, less sugar, less and better quality fat, and more fibre and wholegrain. Atria Denmark & Estonia launched 76 new products in 2025. They accounted for 8.8% of net sales. In 2025, Atria Denmark launched 32 new products. Ten were private -label products, five Aalbæk products, and 17 3-Stjernet products. Aalbæk has a strong position in the premium market, while 3 - Stjernet is well positioned in the upper middle- class market. Overall, 3-Stjernet is a strong traditional brand, with a high 98% recognition rate and strong popularity among families with children. In 2025, Atria Denmark focused on both launching new packaging for whole meat products and improving animal welfare for poultry. Five poultry products were launched, all bearing the Bedre Dyrevelfærd – Better Animal Welfare label. Atria Denmark's product selection includes 20 products with the Keyhole label. Atria Estonia launched 44 new products in 2025. Its most successful new products of 2025 were Maks & Moorits products: Maks & Moorits Classic fully smoked sausage, Maks & Moorits home -style patties with creamy cheese filling, Maks & Moorits American -style grilled meat and Maks & Moorits Greek -style chicken sausage. According to Kantar Emor’s annual consumer surveys, Atria Estonia’s flagship brand Maks & Moorits has consistently been the most popular meat product brand in Estonia. As the leader in its product category, Maks & Moorits is also ranked the second most pop ular food and beverage brand in Estonia – a position that reflects long-term consumer confidence and strong brand awareness. Not only is Atria popular, but its commitment to sustainable production in Estonia has been recognised. In 2025, the Sustainable Brand Index ranked Maks & Moorits the most sustainable meat product brand in Estonia, highlighting our consistent efforts for e nvironmental responsibility, transparency and high - quality local production. Percentage of net sales spent on research and product development in Atria Group in 2023 – 2025: EUR million 2025 2024 2023 Research and product development 14.8 14.8 14.4 % of net sales 0.8% 0.8% 0.8% ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 EVENTS AFTER THE PERIOD UNDER REVIEW There have been no significant events after the period under review. BUSINESS RISKS DURING THE REPORTING PERIOD AND THE NEAR TERM Atria Group’s business, net sales and result are susceptible to many uncertainties. During the reporting period, uncertainty continued due to both the continuation of the war in Ukraine and the escalation of global geopolitical tensions in the Middle East. Combined with the unstable US tariff policy, these affected market behaviour and co nsumers’ purchasing decisions. China imposed import duties on European pork in September, which affected the pork market, with more products remaining on the European market. The price of pork in Europe therefore fell in the second half of 2025. The pork market is expected to remain unstable for at least the first half of 2026. European beef production has declined in recent years, while consumption has remained unchanged. This is creating an imbalance in the beef market. During the reporting period, animal disease risks in Finland and nearby areas remained moderate. African swine fever was detected in Estonia in the summer. At the moment, the situation is calm, but the risk of the disease remains. The economic and operatio nal impacts of the disease on Atria have not been significant. The foot-and-mouth disease situation in Europe has remained stable. Atria actively monitors the animal disease situation in Europe. Atria has protective measures in place in its own production plants and on its contract farms. The fight against cybercrime and information system disruptions requires continuous development and a proactive approach. Systematic monitoring is key, as it enables the timely detection of threats. The continuous improvement of cybersecurity through syste m upgrades, employee training and the introduction of new technologies is also very important. RISKS AND RISK MANAGEMENT The implementation of Atria’s strategy, the achievement of its goals and sustainable operations call for the identification and management of favourable and unfavourable events that may affect operations. Favourable events improve Atria's result and financ ial position or promote sustainable development. Unfavourable events increase costs and complicate operations. Atria seeks to prevent unfavourable events and their impact on business operations through risk management as part of its day-to-day operations. Atria’s risk management policy and risk management procedures define the goals, principles, responsibilities and authorisations of risk management, as well as operating procedures for risk assessment and reporting. The Board of Directors approves the risk management policy and any changes to it and supervi ses the implementation of the principles specified in the policy. The identification, management, monitoring and reporting of sustainability -related impacts, risks and opportunities are incorporated in Atria's risk management processes. Atria divides risks affecting its operations into four categories: strategic; operational; liability; and financial. Risks of various types are identified and assessed using models and tools in line with Atria's risk management framework. Identified risks and opportunities are categorised, and risk management measures prioritised, in accordance with the Group’s risk management policy, taking their likelihood, financial impacts, risk management measures and changes in the risk environment, among other things, into account. The sustainability impacts, risks and opportunities of the abovementioned types are discussed in more detail in the Sustainability Statement. Strategic risks are related to operational development and the planning and implementation of long - term business decisions, as well as to brands, management systems, resource allocation and the ability to respond to changes in the market environment. Opera tional risks are day-to-day business risks affecting processes, systems and people’s activities, for example. Damage risks result from errors, malfunctions and accidents that occur within Atria or in the market environment and cause damage or losses. Damage risks are managed through risk assessments, business continuity planning and insurance. Financial risks have to do with changes in market prices and the sufficiency of financial assets in the short and medium terms as well as with counterparties’ ability to meet their financial obligations. Financial risks are managed in cooperation with financial institutions and by making use of various financial instruments in minimising risks. The Board of Directors and the members of the Atria Group Management Team are tasked with identifying and assessing strategic and operational risks and considering potential alternatives, as well as implementing risk management within their respective area s of responsibility. Strategic and operational risks, including material impacts, risks and opportunities, are addressed by the Board of Directors and the Management Team at least annually (strategic and operational risks: once a year), and separately for each significant business decision. At the same time, decisions are made about measures related to the management of impacts and risks. In the Group's largest business areas, risk assessment and monitoring are also carried out by specific steering and resp onsibility groups within the business area. The members of these groups include management personnel, and their work is coordinated by the Group's Risk Manager. The Risk Manager reports the results and development measures of the steering and responsibilit y groups, as well as any relevant indicators, at least once a year to the members of the Atria Group Management Team and the Board of Directors. These bodies supervise the risk management activities, setting any objectives and indicators for this work. The Group's Treasury Committee, which consists of the Group's CEO, CFO, Financial Director and Group Controller as permanent members, is in charge of identifying and assessing financial risks and implementing risk management throughout the Group. The work of the Treasury Committee is supervised by the Group's Board of Directors. The findings of risk assessments and internal control ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 EVENTS AFTER THE PERIOD UNDER REVIEW There have been no significant events after the period under review. BUSINESS RISKS DURING THE REPORTING PERIOD AND THE NEAR TERM Atria Group’s business, net sales and result are susceptible to many uncertainties. During the reporting period, uncertainty continued due to both the continuation of the war in Ukraine and the escalation of global geopolitical tensions in the Middle East. Combined with the unstable US tariff policy, these affected market behaviour and co nsumers’ purchasing decisions. China imposed import duties on European pork in September, which affected the pork market, with more products remaining on the European market. The price of pork in Europe therefore fell in the second half of 2025. The pork market is expected to remain unstable for at least the first half of 2026. European beef production has declined in recent years, while consumption has remained unchanged. This is creating an imbalance in the beef market. During the reporting period, animal disease risks in Finland and nearby areas remained moderate. African swine fever was detected in Estonia in the summer. At the moment, the situation is calm, but the risk of the disease remains. The economic and operatio nal impacts of the disease on Atria have not been significant. The foot-and-mouth disease situation in Europe has remained stable. Atria actively monitors the animal disease situation in Europe. Atria has protective measures in place in its own production plants and on its contract farms. The fight against cybercrime and information system disruptions requires continuous development and a proactive approach. Systematic monitoring is key, as it enables the timely detection of threats. The continuous improvement of cybersecurity through syste m upgrades, employee training and the introduction of new technologies is also very important. RISKS AND RISK MANAGEMENT The implementation of Atria’s strategy, the achievement of its goals and sustainable operations call for the identification and management of favourable and unfavourable events that may affect operations. Favourable events improve Atria's result and financ ial position or promote sustainable development. Unfavourable events increase costs and complicate operations. Atria seeks to prevent unfavourable events and their impact on business operations through risk management as part of its day-to-day operations. Atria’s risk management policy and risk management procedures define the goals, principles, responsibilities and authorisations of risk management, as well as operating procedures for risk assessment and reporting. The Board of Directors approves the risk management policy and any changes to it and supervi ses the implementation of the principles specified in the policy. The identification, management, monitoring and reporting of sustainability -related impacts, risks and opportunities are incorporated in Atria's risk management processes. Atria divides risks affecting its operations into four categories: strategic; operational; liability; and financial. Risks of various types are identified and assessed using models and tools in line with Atria's risk management framework. Identified risks and opportunities are categorised, and risk management measures prioritised, in accordance with the Group’s risk management policy, taking their likelihood, financial impacts, risk management measures and changes in the risk environment, among other things, into account. The sustainability impacts, risks and opportunities of the abovementioned types are discussed in more detail in the Sustainability Statement. Strategic risks are related to operational development and the planning and implementation of long - term business decisions, as well as to brands, management systems, resource allocation and the ability to respond to changes in the market environment. Opera tional risks are day-to-day business risks affecting processes, systems and people’s activities, for example. Damage risks result from errors, malfunctions and accidents that occur within Atria or in the market environment and cause damage or losses. Damage risks are managed through risk assessments, business continuity planning and insurance. Financial risks have to do with changes in market prices and the sufficiency of financial assets in the short and medium terms as well as with counterparties’ ability to meet their financial obligations. Financial risks are managed in cooperation with financial institutions and by making use of various financial instruments in minimising risks. The Board of Directors and the members of the Atria Group Management Team are tasked with identifying and assessing strategic and operational risks and considering potential alternatives, as well as implementing risk management within their respective area s of responsibility. Strategic and operational risks, including material impacts, risks and opportunities, are addressed by the Board of Directors and the Management Team at least annually (strategic and operational risks: once a year), and separately for each significant business decision. At the same time, decisions are made about measures related to the management of impacts and risks. In the Group's largest business areas, risk assessment and monitoring are also carried out by specific steering and resp onsibility groups within the business area. The members of these groups include management personnel, and their work is coordinated by the Group's Risk Manager. The Risk Manager reports the results and development measures of the steering and responsibilit y groups, as well as any relevant indicators, at least once a year to the members of the Atria Group Management Team and the Board of Directors. These bodies supervise the risk management activities, setting any objectives and indicators for this work. The Group's Treasury Committee, which consists of the Group's CEO, CFO, Financial Director and Group Controller as permanent members, is in charge of identifying and assessing financial risks and implementing risk management throughout the Group. The work of the Treasury Committee is supervised by the Group's Board of Directors. The findings of risk assessments and internal control 12BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 (including sustainability-related findings) are integrated into business practices and processes through Atria’s management systems. Responsibility for the identified risks, opportunities, measures and monitoring is assigned to the relevant risk owners and the responsible stakeholders. When preparing an annual plan for internal audit, key observations from the risk assessments conducted as part of the Group’s planning process are taken into account. Atria Plc’s Board of Directors decides on the focus areas of internal audit for each year . The Group’s administrative, management and control bodies use external assistance as necessary to develop risk -management competence and expertise (also with respect to sustainability). The need for special expertise and training is established through internal checks and evaluations. More information about Atria’s framework for risk management is available in the Corporate Governance Statement. The following table presents a summary of the most significant risks related to Atria’s operations. The risks shown in the table are presented in random order. ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 EVENTS AFTER THE PERIOD UNDER REVIEW There have been no significant events after the period under review. BUSINESS RISKS DURING THE REPORTING PERIOD AND THE NEAR TERM Atria Group’s business, net sales and result are susceptible to many uncertainties. During the reporting period, uncertainty continued due to both the continuation of the war in Ukraine and the escalation of global geopolitical tensions in the Middle East. Combined with the unstable US tariff policy, these affected market behaviour and co nsumers’ purchasing decisions. China imposed import duties on European pork in September, which affected the pork market, with more products remaining on the European market. The price of pork in Europe therefore fell in the second half of 2025. The pork market is expected to remain unstable for at least the first half of 2026. European beef production has declined in recent years, while consumption has remained unchanged. This is creating an imbalance in the beef market. During the reporting period, animal disease risks in Finland and nearby areas remained moderate. African swine fever was detected in Estonia in the summer. At the moment, the situation is calm, but the risk of the disease remains. The economic and operatio nal impacts of the disease on Atria have not been significant. The foot-and-mouth disease situation in Europe has remained stable. Atria actively monitors the animal disease situation in Europe. Atria has protective measures in place in its own production plants and on its contract farms. The fight against cybercrime and information system disruptions requires continuous development and a proactive approach. Systematic monitoring is key, as it enables the timely detection of threats. The continuous improvement of cybersecurity through syste m upgrades, employee training and the introduction of new technologies is also very important. RISKS AND RISK MANAGEMENT The implementation of Atria’s strategy, the achievement of its goals and sustainable operations call for the identification and management of favourable and unfavourable events that may affect operations. Favourable events improve Atria's result and financ ial position or promote sustainable development. Unfavourable events increase costs and complicate operations. Atria seeks to prevent unfavourable events and their impact on business operations through risk management as part of its day-to-day operations. Atria’s risk management policy and risk management procedures define the goals, principles, responsibilities and authorisations of risk management, as well as operating procedures for risk assessment and reporting. The Board of Directors approves the risk management policy and any changes to it and supervi ses the implementation of the principles specified in the policy. The identification, management, monitoring and reporting of sustainability -related impacts, risks and opportunities are incorporated in Atria's risk management processes. Atria divides risks affecting its operations into four categories: strategic; operational; liability; and financial. Risks of various types are identified and assessed using models and tools in line with Atria's risk management framework. Identified risks and opportunities are categorised, and risk management measures prioritised, in accordance with the Group’s risk management policy, taking their likelihood, financial impacts, risk management measures and changes in the risk environment, among other things, into account. The sustainability impacts, risks and opportunities of the abovementioned types are discussed in more detail in the Sustainability Statement. Strategic risks are related to operational development and the planning and implementation of long - term business decisions, as well as to brands, management systems, resource allocation and the ability to respond to changes in the market environment. Opera tional risks are day-to-day business risks affecting processes, systems and people’s activities, for example. Damage risks result from errors, malfunctions and accidents that occur within Atria or in the market environment and cause damage or losses. Damage risks are managed through risk assessments, business continuity planning and insurance. Financial risks have to do with changes in market prices and the sufficiency of financial assets in the short and medium terms as well as with counterparties’ ability to meet their financial obligations. Financial risks are managed in cooperation with financial institutions and by making use of various financial instruments in minimising risks. The Board of Directors and the members of the Atria Group Management Team are tasked with identifying and assessing strategic and operational risks and considering potential alternatives, as well as implementing risk management within their respective area s of responsibility. Strategic and operational risks, including material impacts, risks and opportunities, are addressed by the Board of Directors and the Management Team at least annually (strategic and operational risks: once a year), and separately for each significant business decision. At the same time, decisions are made about measures related to the management of impacts and risks. In the Group's largest business areas, risk assessment and monitoring are also carried out by specific steering and resp onsibility groups within the business area. The members of these groups include management personnel, and their work is coordinated by the Group's Risk Manager. The Risk Manager reports the results and development measures of the steering and responsibilit y groups, as well as any relevant indicators, at least once a year to the members of the Atria Group Management Team and the Board of Directors. These bodies supervise the risk management activities, setting any objectives and indicators for this work. The Group's Treasury Committee, which consists of the Group's CEO, CFO, Financial Director and Group Controller as permanent members, is in charge of identifying and assessing financial risks and implementing risk management throughout the Group. The work of the Treasury Committee is supervised by the Group's Board of Directors. The findings of risk assessments and internal control 13BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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14 ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 RISKS RELATED TO RAW MATERIALS AND THEIR PRODUCTION Description of risk Risk management Cost risks associated with production inputs Fluctuation in the demand for meat products, animal diseases, extreme weather events as well as changes in the production costs and production capacity of contract producers have an impact on the purchase prices of the meat raw materials. There are risks related to the price, availability and quality of energy and other commodities and raw materials. Atria controls the purchasing of meat raw materials centrally and also relies on a wide network of suppliers in the procurement of other raw materials. Atria develops the resilience of primary production in cooperation with the industry and the research se ctor. Atria offers its producers a wide range of expert services, networking opportunities and research information to support farm development and maintain the competitiveness of farms. Atria has a centralised purchasing organisation that works continuously with suppliers to ensure the quality and availability of the purchased goods. Risks are also managed through purchase terms and various hedging instruments. Regarding sustainability, m ore information can be found in section G1 Business conduct of the Sustainability Statement. Risk to product safety It is of primary importance to Atria to ensure the quality of raw materials and products, and safety in the entire value chain. The realisation of a food safety risk may, in the worst case scenario, result in a serious illness or death of a consumer or a g roup of consumers. The food safety risk is discussed in more detail in the Sustainability Statement. All Atria's production plants in Finland, Sweden and Denmark have certified GFSI (Global Food Safety Initiative) food safety management systems and the production plants in Estonia have an ISO 22000- certified food safety management system that take product safety throughout their life cycle into account, from raw materials to the consumer. Atria's production plants and processes comply with international food safety, hygiene and standard requirements. The food safety management system includes self -monitoring, which contributes to ensuring the proper functioning of Atria's processes and the safety of products for consumers and consumer groups. More information is available in section S4 Consumers and end-users of the Sustainability Statement. Impacts of climate change on food production Food production is dependent on ecosystem services provided by the environment, and food production itself also has an impact on the environment and climate. Environmental impacts and climate change as well as efforts to combat them may have effects on Atria’s operations, result and reputation. Such effects may include changes in consumption and business processes, material damage, the need for technological ch anges, increased regulation and heavier environmental taxation and other policy instruments. Risks related to climate change are discussed in more detail in section E1 Climate change of the Sustainability Statement. In accordance with its environmental policy, Atria consistently works to minimise negative environmental impacts and promote positive impacts. Atria has set SBTi -approved reduction targets for its greenhouse gas emissions and has thus committed to the goa ls of the Paris Climate Agreement. Atria promotes the adaptation of primary production to climate change by participating in research and development projects and enabling the adoption of best practices by sharing information and training its contract producers. Taking into account the impa cts of climate change also in the procurement of other key raw materials and packaging materials and including them as part of supply chain management processes manages the identified risks related to adaptation to climate change. More information is available in section E1 Climate change of the Sustainability Report. 14 ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 RISKS RELATED TO RAW MATERIALS AND THEIR PRODUCTION Description of risk Risk management Cost risks associated with production inputs Fluctuation in the demand for meat products, animal diseases, extreme weather events as well as changes in the production costs and production capacity of contract producers have an impact on the purchase prices of the meat raw materials. There are risks related to the price, availability and quality of energy and other commodities and raw materials. Atria controls the purchasing of meat raw materials centrally and also relies on a wide network of suppliers in the procurement of other raw materials. Atria develops the resilience of primary production in cooperation with the industry and the research se ctor. Atria offers its producers a wide range of expert services, networking opportunities and research information to support farm development and maintain the competitiveness of farms. Atria has a centralised purchasing organisation that works continuously with suppliers to ensure the quality and availability of the purchased goods. Risks are also managed through purchase terms and various hedging instruments. Regarding sustainability, m ore information can be found in section G1 Business conduct of the Sustainability Statement. Risk to product safety It is of primary importance to Atria to ensure the quality of raw materials and products, and safety in the entire value chain. The realisation of a food safety risk may, in the worst case scenario, result in a serious illness or death of a consumer or a g roup of consumers. The food safety risk is discussed in more detail in the Sustainability Statement. All Atria's production plants in Finland, Sweden and Denmark have certified GFSI (Global Food Safety Initiative) food safety management systems and the production plants in Estonia have an ISO 22000- certified food safety management system that take product safety throughout their life cycle into account, from raw materials to the consumer. Atria's production plants and processes comply with international food safety, hygiene and standard requirements. The food safety management system includes self -monitoring, which contributes to ensuring the proper functioning of Atria's processes and the safety of products for consumers and consumer groups. More information is available in section S4 Consumers and end-users of the Sustainability Statement. Impacts of climate change on food production Food production is dependent on ecosystem services provided by the environment, and food production itself also has an impact on the environment and climate. Environmental impacts and climate change as well as efforts to combat them may have effects on Atria’s operations, result and reputation. Such effects may include changes in consumption and business processes, material damage, the need for technological ch anges, increased regulation and heavier environmental taxation and other policy instruments. Risks related to climate change are discussed in more detail in section E1 Climate change of the Sustainability Statement. In accordance with its environmental policy, Atria consistently works to minimise negative environmental impacts and promote positive impacts. Atria has set SBTi -approved reduction targets for its greenhouse gas emissions and has thus committed to the goa ls of the Paris Climate Agreement. Atria promotes the adaptation of primary production to climate change by participating in research and development projects and enabling the adoption of best practices by sharing information and training its contract producers. Taking into account the impa cts of climate change also in the procurement of other key raw materials and packaging materials and including them as part of supply chain management processes manages the identified risks related to adaptation to climate change. More information is available in section E1 Climate change of the Sustainability Report. 14BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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15 ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 Risk to biosafety in the food chain The health and welfare of animals is important to Atria. An animal disease at a critical point in Atria’s production chain could interrupt production in the unit concerned and disrupt operations throughout the chain. Animal diseases may also result in export and import restrictions imposed on meat products. The impacts and risks related to biosafety are discussed in more detail on page 98 of the Sustainability Statement. Atria ensures animal welfare with quality requirements pertaining to production and purchasing contracts. Biosafety is continuously developed in cooperation with Atria’s contract producers. In Finland, contract production and the related production guidelines for each species, as well as traceability, are key aspects of monitoring and further improving the welfare of Atria’s production animals. Atria’s contract producers have comprehensive gr oup animal disease insurance to minimise the impacts of any damage to producers. In addition, Atria continuously assesses risks in the value chain and conducts proactive risk management. The responsible use of antibiotics and the pursuit of completely antibiotic -free production contribute to the biosafety of the entire food chain. For more information, see section G1 Business conduct of the Sustainability Statement. RISKS RELATED TO THE GEOGRAPHICAL AREA OF OPERATION AND MARKETS Risk description Risk management Customer risk The retail trade in the food industry is centralised in Atria’s most important market areas. This enables Atria to develop and diversify its long -term cooperation with customers. On the other hand, a decision by a single large customer may have a major impact on Atria’s operations. In risk management, Atria makes use of its good customer cooperation, strong market position, well - known brands, efficient industrial processes, high -quality products and financial monitoring. Consumer behaviour Changes in consumer behaviour may have an impact on both the short -term and long-term demand for Atria’s products. Consumer behaviour may change as a result of factors such as health aspects, the economic situation, regulation, animal welfare, ethical cons iderations and climate change. Changes in consumer behaviour may have positive or negative impacts on Atria’s profitability and the reputation of its brands. Atria is preparing for changes in demand and consumption habits and the need to adapt its operations by investing in consumer-oriented and sustainable product development and product portfolio. In addition, Atria informs consumers about its products, its own operations and its responsibility. Competitors Competitors’ operations and product selections, as well as private labels, affect Atria’s profitability. Atria develops its product range from a customer -driven perspective, monitors market changes actively, ensures the efficiency of operations, maintains good delivery reliability and invests in informative consumer marketing. 15BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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16 ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 Policy and regulation Atria’s geographical area of operation exposes the company to risks related to the national economies, trade policies, legislation and official regulations of the various countries of operation. Global geopolitical risks and changes in the national and int ernational security situation also affect Atria’s operations. Atria manages the risk with contracts, and by monitoring legislative amendments and investing in quality. Atria also trains its personnel to identify and minimise risks, relies on the services of experts, and conducts audits. The safety and security of the facilities and the supply chain are continuously developed and maintained in Atria’s own operations and as part of the national supply security chain. PERSONNEL RISKS The impacts, risks and opportunities related to Atria's personnel are discussed in more detail in section S1 Own workforce of the Sustainability Statement. Risks exceeding the materiality of sustainability reporting were not identified in the double materiality assessment. The most significant long -term strategic personnel risk is related to the availability of personnel. Risk description Risk management Availability of personnel The availability of skilled, suitable and motivated personnel at Atria's plant locations is a risk for the implementation of the strategy and the meeting of the objectives. Atria manages this risk through interesting jobs, its remuneration policy and investments in personnel development and training. Development needs are also identified through employee surveys. RISKS RELATED TO INFORMATION MANAGEMENT Risk description Risk management Cybercrime The increasing use of digital solutions in production and management processes increases cyber risks associated with operations. Cyber risks can endanger the availability, integrity and confidentiality of the data and information systems used in the proces ses. For example, they can cause production downtime or leakages of confidential information. Cybercriminals are constantly developing their methods and attack techniques, resulting in the overall risks constantly changing. Increasing dependence on externa l IT providers may increase the risk due to increased attack surface . Organisational and technical management tools are used to manage cyber and security risks. The development of cyber security is a continuous process that takes into account the ever -changing threats. Management tools include training, technical supervision , response capability and contingency planning. In addition to its own employees, Atria uses the services of its partners to manage cyber risks. 16BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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17 ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 DAMAGE RISKS Risk description Risk management Unforeseeable damage risks at Atria’s production plants in Finland, Sweden, Denmark and Estonia may interrupt the operations at production plants. All Atria’s production plants are insured against any physical damage and interruptions in operations through the Group’s insurance policies. A risk analysis is prepared annually or every two years at key plants. Continuity planning aims to limit potential damage from interruptions and reduce internal and external dependency risks. Atria continuously invests in the safety of its production plants through development measures and investments. FINANCIAL RISKS Risk description Risk management Key risks related to the financing of Atria’s operations include currency transaction and conversion risks, interest rate and counterparty risks, and the liquidity and refinancing risks. The goal of financial risk management is to reduce the impact of price fluctuations in financial markets and other uncertainty factors on the company’s earnings, balance sheet and cash flow, in addition to ensuring sufficient liquidity. Atria’s financial r isk management is discussed in more detail in Note 29 to the financial statements. 17BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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AT RIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIAOYJ TILINPÄÄTÖSJATOIMINTAKERTOMUS 1.1.-31.12.2024 GOVERNANCE AND OPERATIONAL ORGANISATION At its organising meeting after the Annual General Meeting (AGM), Atria Plc’s Supervisory Board elected Jyrki Halonen as its Chairperson and Juho Anttikoski as its Deputy Chairperson. The AGM decided that the Board of Directors would consist of nine (9) members. Pasi Korhonen and Jukka Kaikkonen, whose terms were expiring, were re -elected as members of the Board, and Nina Kopola and Jaana Viertola-Truini were elected as new members for the next three -year term. In addition, the Annual General Meeting elected Juha Kiviniemi as a new member of the Board of Directors to replace Ahti Ritola, who resigned before the end of his term. Kiviniemi’s term will end at the end of the Annual General Meeting of 2027. In addition, Seppo Paavola, Mika Joukio, Leena Laitinen and Kjell-Göran Paxal will continue as members of the Board. The Annual General Meeting decided to amend the Articles of Association. According to the new Articles of Association, the term of a Board member ends at the end of the first Annual General Meeting following their election. On 9 July 2025, Jaana Viertola-Truini announced her resignation from the Board of Directors of Atria Plc due to her other work commitments. Atria’s Board of Directors decided to continue with eight Board members for the time being. Tauno Perälä, MSc (Tech), was appointed as Atria Group’s EVP, Industrial Operations, and member of Atria Group’s Management Team as of 1 October 2025. The following were elected to Atria Plc’s Nomination Committee, appointed by the AGM: • Juho Anttikoski, farmer, Chairperson of the Nomination Committee, representative of Itikka Cooperative • Pasi Korhonen, farmer, representative of Lihakunta • Ola Sandberg, farmer, representative of Pohjanmaan Liha • Hanna Kaskela, SVP, Sustainability and Communications, representative of Varma Mutual Pension Insurance Company The governance of Atria Group is described in more detail in the general information presented in the Sustainability Statement and in Atria’s separate simultaneously published Corporate Governance Statement. The statement can be found on Atria’s website at www.atria.com/en/investors/corporate - governance/corporate-governance-statement/. RELATED-PARTY LOANS The parent company of the Group procures financing centrally and the parent company has granted loans to companies belonging to the Group (Note 3.3 to the parent company). The company has granted loans to a related party of a members of the company's Supervisory Board (Note 31 to the consolidated financial statements). PERSONNEL AVERAGE, FTE 2025 2024 2023 Atria Finland 2,463 2,594 2,614 Atria Sweden 880 829 827 Atria Denmark & Estonia 442 441 457 Group total 3,785 3,864 3,898 Salaries and benefits for the period, Group total (EUR million) 224.9 217.0 219.1 INCENTIVE SCHEMES FOR MANAGEMENT AND KEY PERSONNEL S hort-term incentive scheme The maximum bonus payable under Atria Plc’s short -term incentive scheme is 10–50% of an individual’s annual salary, depending on the performance impact and requirement level of each individual’s role. The criteria used in the performance bonus scheme are E BIT, net sales, and LTIFR at Group level and in the area of responsibility of the person concerned. In addition to the CEO and other members of the Management Team, Atria Plc’s performance bonus schemes cover approximately 40 people. Atria Plc’s long-term incentive scheme 2025–2027 Atria has a new long-term incentive scheme for key persons for the 2025 –2027 period, approved by the Board of Directors of Atria Plc. The scheme will replace the long -term incentive scheme for 2024 –2026 announced on 20 December 2023, and the last two earni ng periods of that scheme, i.e. 2025 and 2026, will not be started. The purpose of the scheme is to combine the goals of the company's owners and key persons to increase the company's value in the long term, to commit the key persons to implementing the company’s strategy, objectives and long -term interest, and to provide them with a competitive incentive scheme based on the earnings and accumulation of the company's shares. Atria Plc’s long-term share-based incentive scheme based on performance for 2025 –2027 has one earning period covering the 2025 –2027 financial years. The rewards for this three -year earning period will be paid in full in 2028, partly in the company’s shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The earnings criteria for the 2025 –2027 period are linked to earnings per share (EPS) (70%), organic growth (20%) and carbon dioxide emissions (10%). If a person’s employment or service relationship ends before the payment of the bonus, the bonus may not be paid. 18BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 The aim of the new incentive scheme is to encourage Atria’s senior management to acquire the company’s shares, and to increase the company’s value through management decisions and actions over the long term. The target group of the share-based incentive scheme can include up to 40 people. The maximum value of bonuses for the earning period is approximately EUR 2 million. Atria Plc’s transitional share-based incentive scheme 2025–2026 In connection with the new long -term incentive scheme, the Board of Directors of Atria Plc has decided to establish a transitional share -based incentive scheme to facilitate the transition from the previous long-term incentive scheme to the new share -based incentive scheme based on performance. The transitional share-based incentive scheme 2025–2026 has two earning periods, the first of which started on 1 January 2025 and ended on 31 December 2025. The bonuses for this earning period will be paid in full in 2026 partly in company shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The Board of Directors decides annually on starting the earning periods and their details. The performance criteria for the earning period 2025 are linked to earnings per share EPS (70%) and organic growth (30%) in accordance with the current share -based incentive scheme. The target group of the share-based incentive scheme can include up to 40 people. In 2025, the amount of remuneration paid under the share -based incentive schemes was approximately EUR 0.7 million. Atria Plc’s 2026–2028 long-term incentive scheme The Board of Directors of Atria Plc have decided to establish a new share -based incentive scheme based on performance for the Group's key personnel. The purpose of the scheme is to align the goals of the company's owners and key persons to increase the company's value in the long term, commit the key persons to implementing the company’s strategy, objectives and long -term interest, and provide them with a competitive incentive scheme based on the earnings and accumulation of the company's shares. Atria Plc’s long-term share-based incentive scheme based on performance for 2026 –2028 has one earning period covering the 2026 –2028 financial years. The rewards for this three -year earning period will be paid in full in 2029, partly in the company’s shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The earnings criteria for the 2026 –2028 period are linked to earnings per share (EPS) (70%), organic growth (20%) and carbon dioxide emissions (10%). In addition, a separate change factor is applied during the earning period. Its criteria are product exports and cross-border sales. The amount of bonus based on the achievement of the targets set for the criteria may at most be doubled. If a person’s employment or service relationship ends before the payment of the bonus, the bonus may not be paid. The target group of the share-based incentive scheme can include up to 50 people. The maximum value of bonuses for the earning period is approximately EUR 5 million. Share-based retention plan for 2026–2028 The share-based retention scheme for 2026 –2028 is intended for situations where the Board of Directors deems them necessary, such as for retaining key personnel, recruiting new key personnel, or in other special situations decided by the Board of Directors . The share-based retention scheme for 2026 –2028 has one earning period, covering the 2026 –2028 financial years, during which the Board of Directors may allocate rewards from the plan. The value of the rewards to be paid based on the scheme corresponds to a maximum of 42,000 Atria Plc series A shares, including the portion to be paid in cash. The rewards from the scheme will be paid by the end of May 2027, 2028, 2029, 2030 or 2031. OUTLOOK FOR 2026 In 2026, Atria Group’s adjusted EBIT is expected to be higher than in the previous year (EUR 69.9 million). Atria’s good market position, strong brands and good customer relationships, as well as reliable industrial processes, create conditions for the positive development of the EBIT also in 2026. The unstable European pork market, animal disease risks and low consumer confidence in Atria’s domestic markets are risk factors that may affect the EBIT in the near future. 19BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 FLAGGING NOTIFICATIONS Atria Plc did not receive any flagging notifications in 202 5. ATRIA PLC’S SHARE CAPITAL The breakdown of the parent company’s share capital is as follows: Series A shares (1 vote per share) 19,063,747 shares Series KII shares (10 votes per share) 9,203,981 shares Class A shares have a right of priority to a dividend of EUR 0.17, after which Class KII shares are paid a dividend of up to EUR 0.17. If distributable dividends remain after this, Class A and Class KII shares entitle their holders to an equal right to a d ividend. Atria’s Articles of Association include a pre -emptive purchase clause concerning series KII shares. If series KII shares are transferred to a party outside the company or to a shareholder within the company who has not previously owned series KII shares, t he proposed recipient of the shares must inform the Board of Directors about this without delay, and KII shareholders have the right to pre -emptively purchase the shares under certain conditions. In addition, the acquisition of series KII shares by means of transfer requires the company’s approval. Series A shares have no such limitations. At the end of the financial period on 31 December 2025, the company held a total of 63,774 treasury shares, accounting for 0.23% of the shares in the company and 0.06% of the voting rights. The number of treasury shares transferred as share -based incentives during the financial period was 24,283. Information about shareholding, shareholders and management holdings is provided under “Shares and shareholders” on pages 22–23. VALID AUTHORISATIONS TO PURCHASE OR ISSUE SHARES, GRANT SPECIAL RIGHTS AND MAKE DONATIONS The General Meeting decided, in accordance with the Board of Directors’ proposal, to authorise the Board of Directors to decide on the acquisition of a maximum of 2,800,000 of the company’s series A shares, in one or more instalments, using funds from the company’s unrestricted equity. However, this is subject to the provisions of the Limited Liability Companies Act on the maximum number of treasury shares that can be held by a company. The company’s series A shares may be acquired for use as consideration in any acquisitions or other arrangements related to the company’s business, to finance investments, as part of the company’s incentive scheme, to improve the company’s capital structure, to be otherwise further assigned, to be retained by the company or t o be cancelled. The shares must be acquired in a proportion other than that of the shareholders’ current shareholdings in the company in public trading arranged by Nasdaq Helsinki Ltd at the market price at the time of acquisition. The shares must be acquired and paid for in accordance with the rules of Nasdaq Helsinki Ltd and Euroclear Finland Oy. In all other respects, the Board of Directors is authorised to decide on the acquisition of treasury shares. The authorisation supersedes the authorisation granted by the AGM on 23 April 2024 to the Board of Directors to decide on the acquisition of treasury shares, and it will remain valid until the closing of the next AGM or 30 June 2026, whichever is first. In accordance with the Board of Directors’ proposal, the AGM authorised the Board of Directors to decide, on one or more occasions, on an issue of a maximum of 2,800,000 new series A shares or on the disposal of any series A shares held by the company thro ugh a share issue and/or by granting option rights or other special rights entitling people to shares as referred to in Chapter 10, section 1 of the Limited Liability Companies Act. The authorisation is intended to be used for the financing or execution of any acquisitions or other arrangements or investments relating to the company’s business, for the implementation of the company’s incentive programme or for other purposes subject to a decision by the Board. The Board is also authorised to decide on all terms and conditions of the share issue and of the granting of special rights as referred to in Chapter 10, section 1 of the Companies Act. The authorisation thus also includes the right to issue shares in a pr oportion other than that currently held by the shareholders under the conditions provided by law, the right to issue shares against or without payment and the right to decide on a share issue to the company itself without payment, subject to the provisions of the Limited Liability Companies Act regarding the maximum number of treasury shares to be held by a company. The authorisation supersedes the share issue authorisation granted to the Board of Directors by the AGM on 23 April 2024 and will be valid until the closing of the next AGM or 30 June 2026, whichever comes first. In accordance with the proposal of the Board of Directors, the Annual General Meeting resolved to authorise the Board of Directors to donate a maximum of EUR 100,000 of the company’s distributable funds to support the activities of colleges, universities o r other educational institutions, or to support other charitable or similar purposes. At the same time, the Board of Directors was authorised to decide the payment schedules of donations and any other terms and conditions of the donations . DISTRIBUTABLE FUNDS AND THE BOARD OF DIRECTORS’ PROPOSAL FOR PROFIT DISTRIBUTION The parent company’s shareholders’ equity on 31 December 2025 comprises the invested unrestricted equity fund of EUR 237,948,168.12, including the treasury share fund value of EUR -656,424.89, and retained earnings of EUR 38,737,728.40, of which earnings f or the financial period total EUR 27,015,314.19. ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 FLAGGING NOTIFICATIONS Atria Plc did not receive any flagging notifications in 202 5. ATRIA PLC’S SHARE CAPITAL The breakdown of the parent company’s share capital is as follows: Series A shares (1 vote per share) 19,063,747 shares Series KII shares (10 votes per share) 9,203,981 shares Class A shares have a right of priority to a dividend of EUR 0.17, after which Class KII shares are paid a dividend of up to EUR 0.17. If distributable dividends remain after this, Class A and Class KII shares entitle their holders to an equal right to a d ividend. Atria’s Articles of Association include a pre -emptive purchase clause concerning series KII shares. If series KII shares are transferred to a party outside the company or to a shareholder within the company who has not previously owned series KII shares, t he proposed recipient of the shares must inform the Board of Directors about this without delay, and KII shareholders have the right to pre -emptively purchase the shares under certain conditions. In addition, the acquisition of series KII shares by means of transfer requires the company’s approval. Series A shares have no such limitations. At the end of the financial period on 31 December 2025, the company held a total of 63,774 treasury shares, accounting for 0.23% of the shares in the company and 0.06% of the voting rights. The number of treasury shares transferred as share -based incentives during the financial period was 24,283. Information about shareholding, shareholders and management holdings is provided under “Shares and shareholders” on pages 22–23. VALID AUTHORISATIONS TO PURCHASE OR ISSUE SHARES, GRANT SPECIAL RIGHTS AND MAKE DONATIONS The General Meeting decided, in accordance with the Board of Directors’ proposal, to authorise the Board of Directors to decide on the acquisition of a maximum of 2,800,000 of the company’s series A shares, in one or more instalments, using funds from the company’s unrestricted equity. However, this is subject to the provisions of the Limited Liability Companies Act on the maximum number of treasury shares that can be held by a company. The company’s series A shares may be acquired for use as consideration in any acquisitions or other arrangements related to the company’s business, to finance investments, as part of the company’s incentive scheme, to improve the company’s capital structure, to be otherwise further assigned, to be retained by the company or t o be cancelled. The shares must be acquired in a proportion other than that of the shareholders’ current shareholdings in the company in public trading arranged by Nasdaq Helsinki Ltd at the market price at the time of acquisition. The shares must be acquired and paid for in accordance with the rules of Nasdaq Helsinki Ltd and Euroclear Finland Oy. In all other respects, the Board of Directors is authorised to decide on the acquisition of treasury shares. The authorisation supersedes the authorisation granted by the AGM on 23 April 2024 to the Board of Directors to decide on the acquisition of treasury shares, and it will remain valid until the closing of the next AGM or 30 June 2026, whichever is first. In accordance with the Board of Directors’ proposal, the AGM authorised the Board of Directors to decide, on one or more occasions, on an issue of a maximum of 2,800,000 new series A shares or on the disposal of any series A shares held by the company thro ugh a share issue and/or by granting option rights or other special rights entitling people to shares as referred to in Chapter 10, section 1 of the Limited Liability Companies Act. The authorisation is intended to be used for the financing or execution of any acquisitions or other arrangements or investments relating to the company’s business, for the implementation of the company’s incentive programme or for other purposes subject to a decision by the Board. The Board is also authorised to decide on all terms and conditions of the share issue and of the granting of special rights as referred to in Chapter 10, section 1 of the Companies Act. The authorisation thus also includes the right to issue shares in a pr oportion other than that currently held by the shareholders under the conditions provided by law, the right to issue shares against or without payment and the right to decide on a share issue to the company itself without payment, subject to the provisions of the Limited Liability Companies Act regarding the maximum number of treasury shares to be held by a company. The authorisation supersedes the share issue authorisation granted to the Board of Directors by the AGM on 23 April 2024 and will be valid until the closing of the next AGM or 30 June 2026, whichever comes first. In accordance with the proposal of the Board of Directors, the Annual General Meeting resolved to authorise the Board of Directors to donate a maximum of EUR 100,000 of the company’s distributable funds to support the activities of colleges, universities o r other educational institutions, or to support other charitable or similar purposes. At the same time, the Board of Directors was authorised to decide the payment schedules of donations and any other terms and conditions of the donations . DISTRIBUTABLE FUNDS AND THE BOARD OF DIRECTORS’ PROPOSAL FOR PROFIT DISTRIBUTION The parent company’s shareholders’ equity on 31 December 2025 comprises the invested unrestricted equity fund of EUR 237,948,168.12, including the treasury share fund value of EUR -656,424.89, and retained earnings of EUR 38,737,728.40, of which earnings f or the financial period total EUR 27,015,314.19. ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 FLAGGING NOTIFICATIONS Atria Plc did not receive any flagging notifications in 202 5. ATRIA PLC’S SHARE CAPITAL The breakdown of the parent company’s share capital is as follows: Series A shares (1 vote per share) 19,063,747 shares Series KII shares (10 votes per share) 9,203,981 shares Class A shares have a right of priority to a dividend of EUR 0.17, after which Class KII shares are paid a dividend of up to EUR 0.17. If distributable dividends remain after this, Class A and Class KII shares entitle their holders to an equal right to a d ividend. Atria’s Articles of Association include a pre -emptive purchase clause concerning series KII shares. If series KII shares are transferred to a party outside the company or to a shareholder within the company who has not previously owned series KII shares, t he proposed recipient of the shares must inform the Board of Directors about this without delay, and KII shareholders have the right to pre -emptively purchase the shares under certain conditions. In addition, the acquisition of series KII shares by means of transfer requires the company’s approval. Series A shares have no such limitations. At the end of the financial period on 31 December 2025, the company held a total of 63,774 treasury shares, accounting for 0.23% of the shares in the company and 0.06% of the voting rights. The number of treasury shares transferred as share -based incentives during the financial period was 24,283. Information about shareholding, shareholders and management holdings is provided under “Shares and shareholders” on pages 22–23. VALID AUTHORISATIONS TO PURCHASE OR ISSUE SHARES, GRANT SPECIAL RIGHTS AND MAKE DONATIONS The General Meeting decided, in accordance with the Board of Directors’ proposal, to authorise the Board of Directors to decide on the acquisition of a maximum of 2,800,000 of the company’s series A shares, in one or more instalments, using funds from the company’s unrestricted equity. However, this is subject to the provisions of the Limited Liability Companies Act on the maximum number of treasury shares that can be held by a company. The company’s series A shares may be acquired for use as consideration in any acquisitions or other arrangements related to the company’s business, to finance investments, as part of the company’s incentive scheme, to improve the company’s capital structure, to be otherwise further assigned, to be retained by the company or t o be cancelled. The shares must be acquired in a proportion other than that of the shareholders’ current shareholdings in the company in public trading arranged by Nasdaq Helsinki Ltd at the market price at the time of acquisition. The shares must be acquired and paid for in accordance with the rules of Nasdaq Helsinki Ltd and Euroclear Finland Oy. In all other respects, the Board of Directors is authorised to decide on the acquisition of treasury shares. The authorisation supersedes the authorisation granted by the AGM on 23 April 2024 to the Board of Directors to decide on the acquisition of treasury shares, and it will remain valid until the closing of the next AGM or 30 June 2026, whichever is first. In accordance with the Board of Directors’ proposal, the AGM authorised the Board of Directors to decide, on one or more occasions, on an issue of a maximum of 2,800,000 new series A shares or on the disposal of any series A shares held by the company thro ugh a share issue and/or by granting option rights or other special rights entitling people to shares as referred to in Chapter 10, section 1 of the Limited Liability Companies Act. The authorisation is intended to be used for the financing or execution of any acquisitions or other arrangements or investments relating to the company’s business, for the implementation of the company’s incentive programme or for other purposes subject to a decision by the Board. The Board is also authorised to decide on all terms and conditions of the share issue and of the granting of special rights as referred to in Chapter 10, section 1 of the Companies Act. The authorisation thus also includes the right to issue shares in a pr oportion other than that currently held by the shareholders under the conditions provided by law, the right to issue shares against or without payment and the right to decide on a share issue to the company itself without payment, subject to the provisions of the Limited Liability Companies Act regarding the maximum number of treasury shares to be held by a company. The authorisation supersedes the share issue authorisation granted to the Board of Directors by the AGM on 23 April 2024 and will be valid until the closing of the next AGM or 30 June 2026, whichever comes first. In accordance with the proposal of the Board of Directors, the Annual General Meeting resolved to authorise the Board of Directors to donate a maximum of EUR 100,000 of the company’s distributable funds to support the activities of colleges, universities o r other educational institutions, or to support other charitable or similar purposes. At the same time, the Board of Directors was authorised to decide the payment schedules of donations and any other terms and conditions of the donations . DISTRIBUTABLE FUNDS AND THE BOARD OF DIRECTORS’ PROPOSAL FOR PROFIT DISTRIBUTION The parent company’s shareholders’ equity on 31 December 2025 comprises the invested unrestricted equity fund of EUR 237,948,168.12, including the treasury share fund value of EUR -656,424.89, and retained earnings of EUR 38,737,728.40, of which earnings f or the financial period total EUR 27,015,314.19. 20BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.75 (EUR 0.69) per share be distributed for the 2025 financial period. The Board of Directors propose s to the Annual General Meeting that the distributable funds be used as follows: - EUR 0.75 per share is distributed as a dividend EUR total * 21,152,965.50 - to be retained as equity, EUR 255,532,931.02 276,685,896.52 * Calculated for the amount of shares outstanding on 31 December 2025 ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 FLAGGING NOTIFICATIONS Atria Plc did not receive any flagging notifications in 202 5. ATRIA PLC’S SHARE CAPITAL The breakdown of the parent company’s share capital is as follows: Series A shares (1 vote per share) 19,063,747 shares Series KII shares (10 votes per share) 9,203,981 shares Class A shares have a right of priority to a dividend of EUR 0.17, after which Class KII shares are paid a dividend of up to EUR 0.17. If distributable dividends remain after this, Class A and Class KII shares entitle their holders to an equal right to a d ividend. Atria’s Articles of Association include a pre -emptive purchase clause concerning series KII shares. If series KII shares are transferred to a party outside the company or to a shareholder within the company who has not previously owned series KII shares, t he proposed recipient of the shares must inform the Board of Directors about this without delay, and KII shareholders have the right to pre -emptively purchase the shares under certain conditions. In addition, the acquisition of series KII shares by means of transfer requires the company’s approval. Series A shares have no such limitations. At the end of the financial period on 31 December 2025, the company held a total of 63,774 treasury shares, accounting for 0.23% of the shares in the company and 0.06% of the voting rights. The number of treasury shares transferred as share -based incentives during the financial period was 24,283. Information about shareholding, shareholders and management holdings is provided under “Shares and shareholders” on pages 22–23. VALID AUTHORISATIONS TO PURCHASE OR ISSUE SHARES, GRANT SPECIAL RIGHTS AND MAKE DONATIONS The General Meeting decided, in accordance with the Board of Directors’ proposal, to authorise the Board of Directors to decide on the acquisition of a maximum of 2,800,000 of the company’s series A shares, in one or more instalments, using funds from the company’s unrestricted equity. However, this is subject to the provisions of the Limited Liability Companies Act on the maximum number of treasury shares that can be held by a company. The company’s series A shares may be acquired for use as consideration in any acquisitions or other arrangements related to the company’s business, to finance investments, as part of the company’s incentive scheme, to improve the company’s capital structure, to be otherwise further assigned, to be retained by the company or t o be cancelled. The shares must be acquired in a proportion other than that of the shareholders’ current shareholdings in the company in public trading arranged by Nasdaq Helsinki Ltd at the market price at the time of acquisition. The shares must be acquired and paid for in accordance with the rules of Nasdaq Helsinki Ltd and Euroclear Finland Oy. In all other respects, the Board of Directors is authorised to decide on the acquisition of treasury shares. The authorisation supersedes the authorisation granted by the AGM on 23 April 2024 to the Board of Directors to decide on the acquisition of treasury shares, and it will remain valid until the closing of the next AGM or 30 June 2026, whichever is first. In accordance with the Board of Directors’ proposal, the AGM authorised the Board of Directors to decide, on one or more occasions, on an issue of a maximum of 2,800,000 new series A shares or on the disposal of any series A shares held by the company thro ugh a share issue and/or by granting option rights or other special rights entitling people to shares as referred to in Chapter 10, section 1 of the Limited Liability Companies Act. The authorisation is intended to be used for the financing or execution of any acquisitions or other arrangements or investments relating to the company’s business, for the implementation of the company’s incentive programme or for other purposes subject to a decision by the Board. The Board is also authorised to decide on all terms and conditions of the share issue and of the granting of special rights as referred to in Chapter 10, section 1 of the Companies Act. The authorisation thus also includes the right to issue shares in a pr oportion other than that currently held by the shareholders under the conditions provided by law, the right to issue shares against or without payment and the right to decide on a share issue to the company itself without payment, subject to the provisions of the Limited Liability Companies Act regarding the maximum number of treasury shares to be held by a company. The authorisation supersedes the share issue authorisation granted to the Board of Directors by the AGM on 23 April 2024 and will be valid until the closing of the next AGM or 30 June 2026, whichever comes first. In accordance with the proposal of the Board of Directors, the Annual General Meeting resolved to authorise the Board of Directors to donate a maximum of EUR 100,000 of the company’s distributable funds to support the activities of colleges, universities o r other educational institutions, or to support other charitable or similar purposes. At the same time, the Board of Directors was authorised to decide the payment schedules of donations and any other terms and conditions of the donations . DISTRIBUTABLE FUNDS AND THE BOARD OF DIRECTORS’ PROPOSAL FOR PROFIT DISTRIBUTION The parent company’s shareholders’ equity on 31 December 2025 comprises the invested unrestricted equity fund of EUR 237,948,168.12, including the treasury share fund value of EUR -656,424.89, and retained earnings of EUR 38,737,728.40, of which earnings f or the financial period total EUR 27,015,314.19. 21BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report of the Board of Directors 2025 ATRIA OYJ TILINPÄÄTÖS JA TOIMINTAKERTOMUS 1.1. - 31.12.2024 SHARES AND SHAREHOLDERS BREAKDOWN OF SHAREHOLDINGS INFORMATION ABOUT SHAREHOLDERS Shareholders by number of shares held on 31 Dec 2025 Major shareholders on 31 Dec 2025 KII A Total % Number of shares Shareholders Shares Itikka Co-operative 4,914,281 3,537,652 8,451,933 29.90 Number of % 1,000 pcs % Lihakunta 4,020,200 3,848,073 7,868,273 27.83 1 – 100 8,943 51.59 373 1.32 Mandatum Life Insurance Company Ltd. 1,079,202 1,079,202 3.82 101 – 1 000 7,136 41.17 2,572 9.10 Pohjanmaan Liha Co-operative 269,500 480,038 749,538 2.65 1 001 – 10 000 1,176 6.78 2,831 10.02 Skandinaviska Enskilda Banken Ab * 640,197 640,197 2.26 10 001 – 100 000 68 0.39 1,481 5.24 Etola Group Oy 625,000 625,000 2.21 100 001 – 500 000 4 0.02 517 1.83 Citibank Europe Plc * 554,804 554,804 1.96 500 001 – 1 000 000 5 0.03 3,094 10.95 Varma Mutual Pension Insurance Company 524,640 524,640 1.86 1 000 001 – 3 0.02 17,399 61.55 The Estate of von Julin Sofia Margareta 160,000 160,000 0.57 Total 17,335 100.00 28,268 100.00 Clearstream Banking S.A. * 128,854 128,854 0.46 * Nominee registered Shareholders by sector on 31 Dec 2025 Major shareholders by voting rights on 31 Dec 2025 Shareholder type Shareholders Shares KII A Total % Number of % 1,000 pcs % Itikka Co-operative 49,142,810 3,537,652 52,680,462 47.42 Companies 453 2.61 18,670 66.05 Lihakunta 40,202,000 3,848,073 44,050,073 39.65 Financial and insurance institutions 18 0.10 1,324 4.68 Pohjanmaan Liha Co-operative 2,695,000 480,038 3,175,038 2.86 Public corporations 6 0.04 672 2.38 Mandatum Life Insurance Company Ltd. 1,079,202 1,079,202 0.97 Non-profit organisations 97 0.56 244 0.86 Skandinaviska Enskilda Banken Ab * 640,197 640,197 0.58 Households 16,704 96.36 5,914 20.92 Etola Group Oy 625,000 625,000 0.56 Foreign owners 57 0.33 24 0.09 Citibank Europe Plc * 554,804 554,804 0.50 Total 17,335 100.00 26,847 94.97 Varma Mutual Pension Insurance Company 524,640 524,640 0.47 The Estate of von Julin Sofia Margareta 160,000 160,000 0.14 Nominee-registered, total 1,421 5.03 Clearstream Banking S.A. * 128,854 128,854 0.12 * Nominee registered 22BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Shares and shareholders MANAGEMENT’S SHAREHOLDING On 31 December 2025, the members of the Board of Directors and the Supervisory Board, the CEO and Deputy CEO, as well as the members of the Group’s Management Team held a total of 75,939 series A shares, or 0.27% of the shares and 0.07% of the voting rights conferred by shares. MONTHLY TRADING VOLUME OF SERIES A SHARES IN 2025 Month Trading, EUR Trading, shares Monthly lowest Monthly highest January 1,563,982 136,712 10.90 12.00 February 2,082,224 179,860 11.05 12.35 March 1,721,283 145,851 11.30 12.30 April 3,979,432 315,128 11.50 13.55 May 1,803,924 142,804 12.25 13.10 June 1,583,558 121,427 12.50 13.65 July 2,109,241 154,597 13.30 14.00 August 1,685,284 127,799 12.75 13.55 September 1,762,614 134,412 12.70 13.55 October 2,505,067 183,059 12.85 14.50 November 1,804,168 128,492 13.55 14.65 December 1,666,682 114,078 14.15 15.45 Total 24,267,459 1,884,219 DEVELOPMENT OF THE SERIES A SHARE PRICE 20 21-2025 (AVERAGE PRICE) CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Shares and shareholders MANAGEMENT’S SHAREHOLDING On 31 December 2025, the members of the Board of Directors and the Supervisory Board, the CEO and Deputy CEO, as well as the members of the Group’s Management Team held a total of 75,939 series A shares, or 0.27% of the shares and 0.07% of the voting rights conferred by shares. MONTHLY TRADING VOLUME OF SERIES A SHARES IN 2025 Month Trading, EUR Trading, shares Monthly lowest Monthly highest January 1,563,982 136,712 10.90 12.00 February 2,082,224 179,860 11.05 12.35 March 1,721,283 145,851 11.30 12.30 April 3,979,432 315,128 11.50 13.55 May 1,803,924 142,804 12.25 13.10 June 1,583,558 121,427 12.50 13.65 July 2,109,241 154,597 13.30 14.00 August 1,685,284 127,799 12.75 13.55 September 1,762,614 134,412 12.70 13.55 October 2,505,067 183,059 12.85 14.50 November 1,804,168 128,492 13.55 14.65 December 1,666,682 114,078 14.15 15.45 Total 24,267,459 1,884,219 DEVELOPMENT OF THE SERIES A SHARE PRICE 20 21-2025 (AVERAGE PRICE) 23BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Shares and shareholders FINANCIAL INDICATORS FINANCIAL INDICATORS SHARE ISSUE ADJUSTED INDICATORS PER SHARE EUR million 31 Dec 25 31 Dec 24 31 Dec 23 31 Dec 22 31 Dec 21 31 Dec 25 31 Dec 24 31 Dec 23 31 Dec 22 31 Dec 21 Net sales 1,813.7 1,755.4 1,752.7 1,696.7 1,540.2 Earnings per share (EPS), EUR 1.44 1.41 -0.70 -0.19 -0.24 EBIT 64.0 66.4 0.4 0.1 6.4 Adjusted earnings per share (EPS), EUR 1.61 1.38 0.98 1.43 1.27 % of net sales 3.5 3.8 0.0 0.0 0.4 Shareholders’ equity/share, EUR 15.32 14.28 13.82 15.94 16.14 Adjusted EBIT 69.9 65.4 49.6 49.0 49.2 Dividend/share, EUR* 0.75 0.69 0.60 0.70 0.63 % of net sales 3.9 3.7 2.8 2.9 3.2 Dividend/profit, %* 52.0 49.0 -85.4 -371.4 -257.3 Financial income and expenses -10.7 -15.4 -13.6 -3.4 -4.9 Adjusted dividend/profit, %* 46.6 50.0 61.2 49.0 49.5 % of net sales -0.6 -0.9 -0.8 -0.2 -0.3 Effective dividend yield, %* 4.9 6.4 5.7 7.6 5.5 Profit before taxes 53.6 52.1 -11.2 1.7 4.8 Price/earnings (P/E) 10.6 7.7 -14.9 -49.2 -47.0 % of net sales 3.0 3.0 -0.6 0.1 0.3 Adjusted price/earnings (P/E) 9.5 7.8 10.7 6.5 9.0 Adjusted profit before taxes 59.5 51.1 38.0 50.5 47.6 Market capitalisation 432.5 305.3 295.7 262.0 325.6 % of net sales 3.3 2.9 2.2 3.0 3.1 Market capitalisation, Return on equity (ROE), % 9.9 10.3 -3.5 -0.8 -1.2 Series A 291.7 205.9 199.4 176.7 219.6 Adjusted return on equity (ROE), % 11.0 10.1 7.3 8.9 8.2 Share turnover/1,000 shares Return on investment (ROI), % 9.7 10.4 1.0 1.1 1.9 Series A 1,884 1,336 1,512 3,505 3,536 Adjusted return on investment (ROI), % 10.4 10.2 7.6 7.5 8.3 Share turnover %, series A 9.9 7.0 7.9 18.4 18.6 Equity ratio, % 45.7 43.2 41.7 44.9 48.7 Total number of shares, 1,000 shares 28,268 28,268 28,268 28,268 28,268 Interest-bearing liabilities 249.6 281.7 284.3 265.7 209.9 Number of shares, series A 19,064 19,064 19,064 19,064 19,064 Gearing, % 54.9 66.5 69.1 56.8 44.9 Number of shares, series KII 9,204 9,204 9,204 9,204 9,204 Net debt 218.7 261.8 274.2 234.7 152.6 Average share issue-adjusted Net gearing, % 48.1 61.8 66.7 50.2 32.6 number of shares 28,268 28,268 28,268 28,268 28,268 Gross investments 54.2 39.6 111.0 131.4 55.6 Share issue-adjusted number % of net sales 3.0 2.3 6.3 7.7 3.6 of shares on 31 Dec 28,268 28,268 28,268 28,268 28,268 Average personnel 3,785 3,864 3,898 3,698 3,711 Research and development costs 14.8 14.8 14.4 13.5 15.3 * The Board of Directors proposes that the company distribute a dividend of EUR 0.75 for the year 2025. % of net sales * 0.8 0.8 0.8 0.8 1.0 Order stock ** - - - - - * Recognised in total as expenditure for the financial year. Share price development ** Not a significant indicator as orders are generally delivered on the day following Series A (EUR) 31 Dec 25 31 Dec 24 31 Dec 23 31 Dec 22 31 Dec 21 the placement of the order. Lowest of the period 10.90 9.13 9.20 8.24 9.85 Highest of the period 15.45 11.65 12.48 11.68 13.44 At the end of the period 15.30 10.80 10.46 9.27 11.52 Average rate for the period 12.87 10.23 10.70 9.71 11.60 24BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CALCULATION FORMULAS OF INDICATORS DESCRIBING FINANCIAL DEVELOPMENT In addition to the IFRS figures, Atria publishes other widely used alternative financial indicators that can be derived from the income statement and balance sheet. Principles for calculating financial indicators: Adjusted EBIT, In addition to reporting EBIT, profit before taxes and profit for the period, the company publishes an adjusted EBIT, adjuste d profit adjusted profit before taxes and before taxes and adjusted profit for the period indicators to describe the actual financial development of the business and t o improve adjusted profit for the period comparability between periods. Adjustments to figures may include events that are not part of ordinary business activities, s uch as restructuring of operations, capital gains and losses attributable to the sale of operations, impairment, and costs of discon tinuing significant operations. Gross investments Investments in tangible and intangible assets Free cash flow = Cash flow from operating activities - Cash flow from investments FTE = Hours worked during the review period Number of working days during the review period * normal working hours per day Return on equity (%) = Profit/loss for the period * 100 Equity (average) Adjusted return on equity (%) = Adjusted profit/loss for the period * 100 Equity (average) Return on investment (%) = Profit/loss before tax + interest and other financial expenses * 100 Equity + interest-bearing financial liabilities (average) Adjusted return on investment (%) = Adjusted profit/loss before tax + interest and other financial expenses * 100 Equity + interest-bearing financial liabilities (average) Equity ratio (%) = Shareholders’ equity * 100 Balance sheet total – advance payments received Interest-bearing liabilities = Loans + lease liabilities Gearing (%) = Interest-bearing liabilities * 100 Shareholders’ equity Net interest-bearing liabilities = Interest-bearing liabilities - cash and cash equivalents 25BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Net gearing (%) = Interest-bearing liabilities – cash and cash equivalents * 100 Shareholders’ equity Earnings per share (basic) = Profit for the period attributable to the owners of the parent company Weighted average number of outstanding shares Adjusted earnings per share (basic) = Adjusted profit for the period attributable to the owners of the parent company Weighted average number of outstanding shares Equity/share = Equity attributable to the owners of the parent company Undiluted number of outstanding shares on 31 Dec Dividend per share = Dividend distribution during the period Undiluted number of shares on 31 Dec Dividend/profit (%) = Dividend/share * 100 Earnings per share (EPS) Adjusted dividend/profit (%) = Dividend/share * 100 Adjusted earnings per share (Adjusted EPS) Effective dividend yield (%) = Dividend/share * 100 Closing price at the end of the period Price/earnings (P/E) = Closing price at the end of the period Earnings per share Adjusted price/earnings (P/E) = Closing price at the end of the period Adjusted earnings per share Average price = Overall share turnover in euros Undiluted average number of shares traded during the period Market capitalisation = Number of shares at the end of the period * closing price on 31 Dec Share turnover (%) = Number of series A shares traded during the period * 100 Undiluted average number of series A shares 26BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators ITEMS AFFECTING COMPARABILITY OF THE RESULT EUR 1,000 2025 2024 EBIT before items affecting comparability 64,018 66,379 Items affecting comparability of EBIT: Atria Finland: Poultry business reorganisation costs 0 980 Demolition and restoration costs of the old factory area in Kelloniemi, Kuopio, as well as costs arising from the early termination of the lease agreement. -5,873 0 Total -5,873 980 Adjusted EBIT 69,891 65,399 Profit before taxes 53,614 52,056 Items affecting comparability -5,873 980 Adjusted profit before taxes 59,486 51,077 Items affecting comparability of taxes 1,175 -196 Profit for the period attributable to the owners of the parent company 40,702 39,654 Total items affecting comparability -4,698 784 Adjusted profit for the period attributable to the owners of the parent company 45,400 38,871 Adjusted EPS, EUR 1.61 1.38 EUR 1,000 2025 2024 Items affecting comparability in income statement: Other operating income 0 689 Other operating expenses -5,873 291 EBIT -5,873 980 Income taxes 1,175 -196 Profit for the period -4,698 784 27BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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SUST AINABILITY ST A TEMENT 28SUSTAINABILITY STATEMENTCONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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GENERAL DISCLOSURES Basis for preparation .........................................................30 Governance ........................................................................30 Strategy ..............................................................................33 Material impacts, risks and opportunities ......................47 ENVIRONMENT AL INFORMA TION EU-Taxonomy ....................................................................56 E1 Climate change .............................................................61 E4 Biodiversity and ecosystems ........................................76 E5 Resource use and circular economy ........................... 80 SOCIAL INFORMA TION S1 Own workforce ............................................................ 84 S4 Consumers and end-users ............................................92 GOVERNANCE INFORMA TION G1 Business conduct .........................................................95 G1 Animal welfare ............................................................98 A TRIA PLC’S SUST AINABILITY ST A TEMENT 2025 29SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GENERAL DISCLOSURES - ESRS2 GENERAL BASIS FOR PREPARATION General Atria Plc (“Atria” or the “Group”), together with its subsidiaries, is one of the leading food companies in Northern Europe. The company develops, manufactures, markets and sells fresh foodstuffs and provides services related to them. Our core product cate gories are fresh meat and consumer -packed meat, poultry products, meat products such as sausages and cold cuts, as well as convenience foods and plant-based products. Atria’s customers include consumers, retail trade, the Food Service sector and the food industry. The Sustainability Statement is published annually as part of the report by the Board of Directors. The reporting period is the same as for financial reporting, i.e. the financial period 1 January 2025 –31 December 2025. General basis for preparation of the sustainability statements Sustainability reporting covers the parent company Atria Plc and its subsidiaries. The subsidiaries are companies over which the Group has control. The accounting principles are described in more detail in section Notes, IFRS. In Atria Plc's Sustainability Statement, the primary reporting level is the Group. Key figures for business areas are presented on the metrics required by the ESRS standards. The reporting period is the same as for financial reporting. The reporting principles for the different sustainability m atters are presented in the context of each sustainability statement. The sustainability matters and key figures reported are based on the double materiality analysis updated in 2025, which also takes sustainability impacts into account at the company’s upstream and downstream value chain. Based on the double materiality ana lysis, the reporting requirements of the European Sustainability Reporting Standards (ESRS) relevant to the company's operations, products and stakeholders have been identified. The company does not publish in the Sustainability Statement detailed information relating to intangible assets or innovation outcomes. Assurance on the Sustainability Statement was conducted by Deloitte Oy (limited assurance). The assurance was conducted in accordance with International Standard on Assurance Engagements (ISAE) 3000 (Revised). GOVERNANCE Supervisory Board Atria Group’s Supervisory Board oversees the company's management, which is the responsibility of the Board of Directors and the CEO, gives instructions to the Board of Directors on matters that are far - reaching or fundamentally important, and gives its op inion to the Annual General Meeting on the financial statements and the auditor's report. Atria Plc: members of the Supervisory Board and their main occupations 31 December 2025: Juho Anttikoski, farmer, beef producer Mika Asunmaa, farmer, pork producer Jyrki Halonen, farmer, beef producer Mika Herrala, farmer, beef producer Vesa Isoaho, farmer, pork producer Jaakko Isomäki, farmer, beef producer Lotta Iso-Tuisku, farmer, piglet and pork producer Jussi Joki-Erkkilä, farmer, pork producer Jari Kajan, farmer, beef producer Ari Lajunen, farmer, beef, dairy farm Vesa Lapatto, farmer, beef, dairy farm Juha Nikkola, farmer, piglet and pork producer Mika Niku, farmer, beef producer Ilkka Nykänen, managing director, Itikka Cooperative and Lihakunta Ari Pöyhönen, farmer, pork producer Suvi Rantala, farmer, chicken producer Risto Sairanen, farmer, pork producer Ola Sandberg, farmer, beef, suckler cow farm Juha Savela, farmer, pork producer Pia Uusitalo, farmer, beef producer, dairy farmer The Supervisory Board has a total of 20 members, of whom three are women and seventeen are men, i.e. women make up 15 per cent of the Supervisory Board’s members. None of the members of the Supervisory Board are employed by the Atria Group. All members of the Supervisory Board are dependent on the company, and 45 per cent are independent of the company's significant shareholders. The members of the Supervisory Board have experience in the meat business and various production sectors of the industry. The members represent different geographical areas of Finland based on their places of residence or production sites. 30SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Board of Directors Atria's Board of Directors is in charge of the company's administration and the appropriate organisation of its operations in accordance with the Limited Liability Companies Act and Atria's Articles of Association. The Board of Directors is the highest aut hority responsible for the Group's strategy, which also includes sustainability aspects. It approves the Group’s strategy, which includes sustainability, as well as the policies guiding the Group’s governance, including Atria Code of Conduct. Atria Plc: members of the Board of Directors and their main occupations on 31 December 2025: Mika Joukio, M.Sc., MBA Jukka Kaikkonen, farmer, beef producer Juha Kiviniemi, farmer, chicken producer Nina Kopola, professional board member Pasi Korhonen, farmer, beef producer Leena Laitinen, Alko Oy, managing director Seppo Paavola, farmer, pork producer Kjell-Göran Paxal, farmer, piglet and pork producer In 2025, nine (9) members were elected to the Board of Directors, one of whom resigned during the term due to their professional duties, and thus at the end of 2025, the Board consisted of eight (8) members, of whom 75 per cent were men (6) and 25 per cent were women (2). There is no representation of employees on the Board. Of the Board members, 37.5 per cent are independent of the company and 62.5 per cent are independent of the company's significant shareholders. The members of the Board of Directors together have extensive experience in good governance, international business and management in various sectors, such as the food industry and other industries, retail and different stages of the company’s value chain. To this end, the Board of Directors has confirmed written rules of procedure concerning the duties of the Board, the matters to be dealt with, meeting practices and the decision -making procedure. According to these rules, the Board of Directors supervises and monitors the operations and management of the company and discusses and decides on significant matters related to the company's strategy, investments, organisation and financing. According to the rules of procedure, the Board of Directors monitors and evaluates the effectiveness of the company's internal control and audit as well as risk management systems. The Board of Directors regularly monitors sustainability issues, assesses potential risks, impacts and opportunities, and ensures that the Company c omplies with all applicable regulations and standards in accordance with due diligence processes. In addition, the Board of Directors monitors and evaluates the Group's financial and sustainability reporting systems, as well as the assurance of the financi al statements and sustainability reporting. The Board may use external experts to support decision -making. The Board of Directors approves Atria’s strategic sustainability goals, the implementation of which is the responsibility of the Group’s CEO. The implementation of the goals is guided by the Group’s sustainability programme. In addition, sustainability has been incorporated in the Group’s business strategy, long-term investment plans, as well as risk assessments and annual action plans. In accordance with the Board's rules of procedure, the Group's EVP, Sustainability presents the Board with regular reviews of material sustainability impacts, risks and opportunities, as well as the progress of the sustainability programme at least twice a year. In this way, the Board maintains up -to-date expertise in sustainability matters and ensures that its decision -making supports the company's sustainable value creation in the long term. The Board of Directors has one committee, the Nomination and Remuneration Committee. The Board of Directors appoints the members of the Committee from among its members in accordance with the Committee’s rules of procedure. The Committee has no autonomous decision-making power. The Board of Directors makes decisions on the basis of the Committee’s preparations and proposals. The purpose of the Nomination and Remuneration Committee is to prepare the CEO's and Deputy CEO's elections as well as the management' s terms of employment, ensure the objectivity of decision -making, enhance the achievement of the company's goals through bonus schemes, increase the company's value and ensure that bonus schemes are transparent and systematic. The aim of the Nomination and Remuneration Committee is also to ensure that the performance bonus systems are linked to the company’s strategy and the results achieved. The Chairman of the Nomination and Remuneration Committee is Seppo Paavola and the other members are Pasi Korhonen a nd Leena Laitinen. Women account for 33% of the members of the Nomination and Remuneration Committee. Of the members, one (33%) is independent of the company and two (67% ) are independent of significant shareholders. The inclusion of sustainability-related performance in the company's incentive schemes is described in Note 31 to the consolidated financial statements. Nomination Committee The task of the Nomination Committee appointed by Atria Group’s Annual General Meeting is to prepare a proposal for the election of the members of the Board of Directors and to prepare a proposal on the remuneration of the members of the Board of Directors and the Supervisory Board. A total of four members were elected to the Nomination Committee in the reporting year, of whom 75 per cent were men and 25 per cent were women: Juho Anttikoski, farmer, chair of the Nomination Committee, representative of Itikka Cooperative Pasi Korhonen, farmer, representative of Lihakunta Ola Sandberg, farmer, representative of Pohjanmaan Liha Hanna Kaskela, SVP, Sustainability and Communications, representative of Varma Mutual Pension Insurance Company None of the members of the Nomination Committee are employed by the Atria Group. 75 per cent of the members of the Nomination Committee are dependent on the company. 2 5 per cent of the members of the Nomination Committee are dependent on significant shareholders. 31SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Group CEO and Management Team Atria's CEO is responsible for the implementation of the financial targets and sustainability goals confirmed by the Board of Directors throughout the Group. The Management Team assists the CEO in planning the operations and in operational management. The duties of the Management Team include, among others, preparing strategic plans and putting them into practice, handling significant projects and organisational changes, as well as reviewing and implementing the Group’s risk management measures in their respective areas of responsibility. Members of Atria Plc's management team on 31 December 2025: Kai Gyllström, CEO Tomas Back, CFO, Deputy CEO Mika Ala-Fossi, EVP, Atria Finland Jarmo Lindholm, EVP, Atria Sweden Meelis Laande, EVP, Atria Estonia Lise Østergaard, EVP, Atria Denmark Jennifer Paatelainen, EVP, Human Resources Pasi Luostarinen, EVP, Marketing & Market Insight Merja Leino, EVP, Sustainability Tauno Perälä, EVP, Group Industrial Operations as of 1 October 2025. In 2025, Atria's Management Team consisted of ten (10) members, of whom 70 per cent were men (7) and 30 per cent were women (3). The members of the Atria Group Management Team are employed by Atria. The Management Team has extensive experience in international business, good governance and various sectors of the food industry. Atria Group’s Management Team reviews the sustainability goals and the sustainability programme before presenting them to the Board of Directors and monitors the implementation of the adopted measures. The Management Team assesses sustainability -related impacts, risks and opportunities as part of strategic management. Based on the Group’s sustainability goals and the sustainability programme, the business areas draw up their own sustainability goals and action plans for their implementation. The Executive V ice Presidents of the business areas are responsible for implementing the goals, and the implementation is monitored both by the business area management teams and by the Atria Group Management Team. Statement on sustainability due diligence Key elements of the due diligence process Items in the Sustainability Statement a) Integration of due diligence into the governance, strategy and business model 95–97 b) Interaction with affected stakeholders at all key stages of the due diligence process 49–50, 86, 97 c) Identification and evaluation of adverse effects 49–50, 86, 96–97 d) Taking action to combat these adverse effects 49–50, 86, 96–97 e) Monitoring and communicating the performance of these activities 31–32, 97 Risk management and internal controls over sustainability reporting The responsibility for sustainability reporting lies with the company's financial administration. Sustainability reporting is carried out by financial administration together with the sustainability organisation and other company experts. Sustainability re porting is mainly carried out by experts who specialise in it and in industry standards. Atria's sustainability reporting follows the common principles and processes defined in Atria's financial reporting, risk management and internal control. The Sustainability Reporting Steering Group is responsible for identifying and managing the risks ass ociated with the reporting process. The process includes controls that ensure the completeness of information, the accuracy of the calculation and the timeliness of the reporting. In addition, the Steering Group ensures that reporting complies with ESRS requirements and that approval chains and audit chains are in place to ensure reliability. The identified risks of sustainability reporting include the accuracy of the information to be reported, the timeliness of the reporting, and the availability of information from the value chain. To ensure the accuracy and timeliness of the information to be reported, roles and responsibilities have been defined for sustainability reporting. The responsibility for the accuracy of the information and for adhering to the reporting schedules lie with Atria’s business areas and the Group’s expert functions. 32SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GENERAL DISCLOSURES - ESRS2 STRATEGY STRATEGY, BUSINESS MODEL AND VALUE CHAIN Strategy Atria announced its new strategy for 2026– 2030 in September 2025. Called TOGETHER 2030, the strategy highlights the importance of working together to achieve our vision – to be the winning Northern European food company. The strategy focuses on ensuring th e competitiveness of the company’s core business, allocating investments and resources to rapidly growing product categories, increasing cross-border cooperation to exploit economies of scale and renewing ourselves to meet future needs. Atria has over 120 years of tradition, strong economic performance and skilled, motivated people. The new strategy is a managed systematic development path – built on a strong core business and proactive exploitation of future opportunities. The strategy has been approved by the Board of Directors, and every Atria employee is responsible for its implementation. Business model and value chain Atria Group is one of the leading food companies in Northern Europe. Geographically, Atria's businesses and a significant part of the value chain are located in the Nordic countries. Atria was founded in 1903. Atria’s operations are divided into three busi ness areas. The business areas form the reporting segments. They are listed in order of size: Atria Finland, Atria Sweden and Atria Denmark & Estonia. About 72 per cent of Atria’s net sales come from Finland, 21 per cent from Sweden, and 7 per cent from Denmark & Estonia. Atria also engages in export activities. In 2025, Atria exported its products to 25 countries. The operating environment is changing rapidly, although the speed and focus of change varies between business areas. The food industry and agriculture are heavi ly regulated and controlled industries. In addition to developing the chain, sustainable business requires preparedness for disruptions and flexibility in supply chains. The current geopolitical situation underlines the importance of security of supply. As a financially strong, profitable company, Atria can renew and respond to the continuous changes in all its business areas in line with its strategic goals. No significant changes occurred in Atria's business areas, market areas or product category structu re during the reporting year. Significant business events concerning the business areas in the reporting year are presented in the financial review of the report by the Board of Directors. Significant product segments and their financial development during the reporting year are described in the notes to the consolidated financial statements under Segment Information. The strength of the Atria Group is based on its ownership structure and, in line with the company’s strategy, on close cooperation with Finnish producers. Through its owners, Atria has access to high- quality domestic raw material, which creates a solid foundation for operations and long -term business development. The aim of the services offered to the owners is to ensure the farms' long -term viability and success. Atria’s core product categories by business area ATRIA FINLAND ATRIA SWEDEN ATRIA DENMARK & ESTONIA • Fresh and consumer- packed meat • Poultry products • Cooking products, such as cooking sausages • Sandwich toppings • Convenience food • Animal feed • Cold cuts • Sausages • Fresh poultry products • Convenience food • Vegetable and delicatessen products • Meat products, particularly sausages, including cold cuts and spreads • Convenience food • Fresh and consumer packed meat 33SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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A TRIA ’S STRA TEG Y , OPERA TING MODEL AND V ALUE CHAIN RA W MA TERIALS AND OTHER MA TERIALS HUMAN RESOURCES AND DEVELOPMENT INT ANGIBLE CAPIT AL INVESTMENTS FINANCING ENERG Y CONSUMPTION PRIMARY PRODUCTION A TRIA ’S INDUSTRIAL AND COMMERCIAL OPERA TIONS CUSTOMERS CONSUMERS PRODUCERS AND P ARTNERS • Meat raw materials: pork, beef, poultry • Other raw materials • Packaging and other materials Purchases from producers, subcontractors and other partners • Total purchases and other expenses: EUR 1,473.5 million CUSTOMERS • Sales to consumer product and primary production customers and other revenues: EUR 1,818.2 million PERSONNEL • Total salaries and bonuses: EUR 224.9 million SOCIETY • Corporate taxes and social security expenses: EUR 66.0 million SHAREHOLDERS AND FINANCIERS • Dividends: EUR 20.8 million • Financial income and expenses: EUR -10.7 million RESEARCH AND DEVELOPMENT In addition to its own research and product development activities, Atria participates in applied research in product and packaging technology, nutrition and environmental efficiency, among other fields COMMUNITIES Support for public and private organisations and associations, including ones working with children and young people’s physical exercise and competitive sports • Atria Finland: 2,463 • Atria Sweden: 880 • Atria Denmark & Estonia: 442 • Brands, patents, concepts • Competence • Research and development: EUR 14.8 million • Investments EUR 54.2 million • Equity and liabilities: EUR 999.4 million • Energy consumption: around 468 GWh, of which renewable sources represent around 30 percent E1 E4 E5 G1 E1 E5 S4 G1 E1 E4 E5 S1 G1 E1 E5 G1 Foodservice Retail Strategy: Strategic targets: Climate changeE1 Business conduct (incl. animal welfare) G1 Own workforceS1 Consumers and end-usersS4 Biodiversity and ecosystemsE4 Resource use and circular economyE5 Industrial and export customers Atria Finland – Atria Sweden – Atria Denmark & Estonia TOGETHER 2030 STRONG FINANCIAL PERFORMANCE | GROWTH AND COLLABORATION | SUSTAINABLE LONG-TERM RENEWAL 34SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Sustainability targets Sustainability is at the heart of Atria’s strategy and business, driving the change towards renewable, transparent and sustai nable food production. The aim of sustainability work is to produce long -term value for all stakeholders. Atria’s strategy defines Atria’s key sustainability targets. The sustainability targets are presented in the attached summary table and explained in more detail in the ESRS -specific disclosure points of the Sustainability Statement. TOPIC PRINCIPLES AND POLICY GUIDING TARGET-SETTING SET QUALITATIVE (Q) AND MEASURABLE (M) GOALS BASE YEAR FOR GOAL COMPARABILITY (B) Q M B E1 CLIMATE CHANGE • Environmental policy • SBTi-approved targets (Scope 1 and 2) to reduce greenhouse gas emissions by 42 per cent from 2020 levels by 2030. M 2020 • The reduction target for the value chain’s (Scope 3) emissions is 20 per cent per tonne of processed meat by 2030. M 2020 E4 BIODIVERSITY AND ECOSYSTEMS • Environmental policy • Reducing the use of soy in animal feed in Atria Finland’s contract production : 30 per cent of the 2020 level in feed for chickens and 50 per cent in feed for pigs by 2030. Q • Preventing forest loss and continuous improvement in the protection of ecosystem services. Q E5 RESOURCE USE AND CIRCULAR ECONOMY • Environmental policy • As efficient as possible utilisation of the inflow resources. As efficient as possible use of raw and other materials, the utilisation of side streams and the recycling of valuable nutrients. Q • The objective of packaging development is to prevent waste and food waste in accordance with the waste hierarchy. Q S1 OWN WORKFORCE • HR policy • The goal is to ensure a safe and healthy working environment and to promote the well -being of personnel. Q • Accident frequency of 8 by 2030. M 2020 S4 CONSUMERS AND END-USERS • Food safety, quality, nutrition and product responsibility policy • The goal is to have zero product recalls per year. M • The goal is to maintain the certifications of all production facilities in accordance with GFSI -approved food safety standards compared to the level of the 2024 base year. Q 2024 • A wide range of options that meet the generally accepted nutritional criteria (heart symbol, keyhole) compared to the level of the 2020 base year. Q 2020 G1 BUSINESS CONDUCT • Atria’s Code of Conduct and administrative policies • Maintaining a healthy corporate culture based on respect for laws and regulations. Q • Zero corruption or bribery incidents per year. M G1 ANIMAL WELFARE • Animal welfare policy • Continuous development of production methods based on scientific evidence and ensuring animal welfare outside the contract production as well. Q • Ensuring animal welfare, the responsible use of antibiotics and biosecurity in the value chain. Q 35SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 STAKEHOLDERS’ INTERESTS AND VIEWS Atria develops its operations in open and tight interaction with its stakeholders. Stakeholder engagement and the mapping of stakeholder expectations take place through regular and structured interaction, the use of public and/or purchased research data, a nd legislation and standards, for example. The nature of the interaction depends on the stakeholder group’s influence and significance for Atria’s business. The table presents Atria’s stakeholders, the ways they are engaged, their expectations and key sustainability matters, as well as their impact on the organisation's operations, business model and strategy. The table provides a comprehensive idea of how the various stakeholders influence and participate in the organisation’s sust ainability and strategic planning. As a result of the 2025 stakeholder engagement, no needs were identified to launch new measures in addition to the existing measures listed in the table. STAKEHOLDER STAKEHOLDER ENGAGEMENT STAKEHOLDER EXPECTATIONS AND KEY SUSTAINABILITY ISSUES IMPACT ON OPERATIONS, BUSINESS MODEL AND STRATEGY CUSTOMERS • Business negotiations • Audits • Online services • Communications and marketing • Competitive prices • Customer-focused service • Climate change mitigation • Resource use and circular economy • Food safety • Animal welfare • Ethical corporate culture and supply chain responsibility • Resource-efficient production • Seamless operation of the order -delivery chain • Climate targets in line with the SBTi pledge • Certified energy and environmental systems • GFSI-certified food safety and quality systems • Promotion of animal welfare • Due diligence and continuous improvement of related performance in supply chain management CONSUMERS • Consumer research • Consumer service • Communications and marketing • Tasty, healthy and nutritious food • Affordable prices • Safety and quality • Ethically produced products, including animal welfare • A reliable, sustainable brand • Productisation that meets consumer needs • GFSI-certified food safety and quality systems • Inclusion of responsibility themes in marketing communications 36SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 STAKEHOLDER STAKEHOLDER ENGAGEMENT STAKEHOLDER EXPECTATIONS AND KEY SUSTAINABILITY ISSUES IMPACT ON OPERATIONS, BUSINESS MODEL AND STRATEGY EMPLOYEES • Supervisory work • Performance appraisals • Personnel surveys • Training • Collaboration with employee representatives • Occupational safety observations and health and safety • Whistleblowing channel • Intranet and other business communications • Working conditions and other employment -related rights • Health and safety • Equal treatment • Opportunities for career advancement • Atria's Way of Work – incorporating shared values into HR processes • Management in accordance with Atria’s safety principles • Atria's Way of Leading – promoting a uniform, encouraging leadership culture • Development of personnel skills and capabilities to meet strategic needs PRODUCERS • Producer service including online services • Events for producers • Primary production development teams • Farm visits • Communications and marketing • Reliable and consistent long-term partner • Expert advice • Competitive producer prices • Research and promotion of best practices: o Animal welfare o Circular economy o Climate change o Sustainable agriculture • Implementation of the primary production strategy, the best partner for producers • Comprehensive producer services • Utilisation of research data • Developing animal feeding solutions • Investments in feed production SHAREHOLDERS AND INVESTORS • Board and Supervisory Board work • Capital Markets Day • Investor meetings • Annual report, stock exchange and press releases • Annual General Meeting • Return on investments and development of company value • Profitability and sustainability of food production • Social value creation • Profitable and competitive profit distribution models • Business growth plans • Operational and production efficiency • Renewal and investment • Effective use of research data and modern technology in business development • Risk management FINANCERS • Meetings with financers • Financing negotiations • Annual report, stock exchange and press releases • Solvency and debt management ability • Business continuity • Taking sustainability considerations into account in business strategy • Business growth plan • Operational and production efficiency • Risk management • Renewal and investment 37SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 STAKEHOLDER STAKEHOLDER ENGAGEMENT STAKEHOLDER EXPECTATIONS AND KEY SUSTAINABILITY ISSUES IMPACT ON OPERATIONS, BUSINESS MODEL AND STRATEGY AUTHORITIES • Supervision activities • Cooperation with authorities, including in expert forums • Online services • Annual report, stock exchange and press releases • Fulfilment of statutory obligations • Collaboration and transparency • Food safety • Animal welfare • Environmental protection • Occupational health and safety • Plant safety • Compliant operating models that take official regulations into account • Employee training • Consideration of competence requirements in personnel development SUPPLY CHAIN PARTNERS • Business negotiations • Audits • Online services • Research and development projects • Reliable payment of invoices • Predictability and increasing demand • Climate change • Circular economy • Responsibility in the supply chain • Collaboration development • Evaluation of suppliers’ responsibility as part of the selection process and during cooperation • Collaboration models that take sustainability aspects into account OPINION LEADERS AND THE MEDIA • Cooperation with the media • Communications and marketing • Annual report, stock exchange and press releases • Transparency • Industry expertise • Climate impact of food production • Animal welfare • Nutrition • Transparency of marketing and communication processes • Continuous communication on topical issues • Involvement of Atria's experts in communication LOCAL COMMUNITIES AND EDUCATIONAL INSTITUTIONS • Internships and thesis projects • Research and development projects • Webinars and meetings • Training and skills • Working life contacts • Investments and jobs • Research and development cooperation • Regular meetings with community representatives • Educational cooperation and partnerships • Provision of jobs and internships • Joint research and development projects TRADE ASSOCIATIONS AND RESEARCH INSTITUTES • Work of industry lobbying committees • Research and development projects • Webinars and meetings • Food safety • Promotion of sustainable and competitive food production • Adaptation to climate change • Climate change mitigation • Collaboration on advocacy • Financing and/or resourcing projects that promote sustainable food production • Personnel resourcing for lobbying cooperation with industry associations 38SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GENERAL DISCLOSURES - ESRS2 MATERIAL IMPACTS, RISKS AND OPPORTUNITIES AND THEIR INTERACTION WITH THE STRATEGY AND BUSINESS MODEL E1 CLIMATE CHANGE IMPACTS, RISKS AND OPPORTUNITIES + Positive impact or financial opportunity - Negative impact or financial risk ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Climate change adaptation + Atria promotes sustainable agriculture in cooperation with its contract producers. The development measures for primary production aim to reduce the environmental impact of food production and help to adapt to the weather changes caused by climate change in the long term. - Measures aimed at climate change adaptation affect the cost structures of primary production and other raw materials supply chains. The effect may increase the cost of Atria's raw materials and packaging materials. The medium-term transition risk is the weakening of competitiveness if the accumulation of costs cannot be redeemed from the consumer market. Atria promotes the adaptation of primary production to climate change by participating in research and development projects and enabling the adoption of best practices by sharing information and training its contract producers. For example, increasing the diversity of farming systems helps to reduce the risks associated with pests and plant diseases caused by climate change. Taking into account the impacts of climate change also in the procurement of other key raw materials and packaging materials and including them as part of supply chain management processes manages the identified risks related to adaptation to climate change. - If the industry is unable to adapt to the extreme events caused by climate change and production costs increase, food will become more expensive and its availability will weaken. Climate change mitigation + Atria is committed to reducing its greenhouse gas emissions in accordance with the Paris Agreement, both in its own operations (Scope 1 and 2) and in its value chain (Scope 3). The reduction of emissions in accordance with the targets takes place in the long term. - The costs of achieving the SBTi (Scope 3) objectives of the value chain involve a long-term transition risk. Meeting the objectives of primary production means investing in production technologies that reduce emissions or committing to measures that increase costs. There is a risk of loss of competitiveness if the additional costs related to climate action cannot be redeemed from the consumer market or financed by other means. Atria promotes positive impacts such as feed development, sustainable land use, development of manure processing, etc. through measures in accordance with the transition plan to meet the SBTi objectives. The risk associated with the value chain is managed through close cooperation with actors in the primary production chain. - Atria is responsible for its role in promoting global warming. If Atria and its supply chain fail to reduce their greenhouse gas emissions, it will contribute to global warming. In the long term, global warming is projected to lead to extreme weather events, such as floods and droughts, which damage ecosystems and human living environments. - The shift in consumption towards more affordable and more carbon-intensive alternatives is a potential negative impact on consumers in the long term. 39SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 E1 CLIMATE CHANGE IMPACTS, RISKS AND OPPORTUNITIES E4 IMPACTS, RISKS AND OPPORTUNITIES RELATED TO BIODIVERSITY AND ECOSYSTEMS + Positive impact or financial opportunity - Negative impact or financial risk ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Energy + Improving energy efficiency reduces greenhouse gas emissions. The transition to renewable energy sources, such as solar and wind power, will reduce dependence on fossil fuels and support sustainability. In addition, investments in the use of renewable energy and energy-efficient technologies can lead to new innovations that will benefit society at large and promote technological development in the long term. The identified risks associated with energy did not exceed the reporting threshold of financial materiality. Improving operations according to the principles of continuous improvement in accordance with the environmental policy is part of Atria's operational management. Certified management systems guide the identification of efficiency targets and the measuremen t of operations and require a commitment to continuous improvement. Investments in energy-efficient solutions, energy recovery and the deployment of renewable energy, such as a biogas plant, a photovoltaic park and a wind power project, are key means of managing energy-related climate impacts. ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Direct impact drivers of biodiversity loss, land -use changes + Atria's investments in the development of innovative feed solutions strengthen the protein self -sufficiency of the food chain and support sustainable agriculture. The actions have already been reflected in reductions in the share of soy in animal feed and an increased use of domestic protein, for example, which alleviates the drivers of global land-use change risk and supports biodiversity and climate objectives throughout the value chain. - Due to climate change, previously arable areas have become unsuitable for cultivation, either because of extreme weather conditions or the disappearance of ecosystem services that support cultivation. Problems in the supply chain can lead to costs that cannot be fully passed on in the value chain. The development of feed solutions is a strategically significant differentiator in the market and a cornerstone of the resilience of the company’s own contract manufacturing. The inclusion of high-quality protein in animal feed requires multidisciplinary expertise in, for example, animal nutrition, agricultural economics and plant production sciences. Besides their effects on nature, feed solutions also have positive impacts on the climate, animal welfare, and the profitability of the company’s own primary production chain, as well as securing the availability of raw materials. 40SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 E5 IMPACTS, RISKS AND OPPORTUNITIES RELATED TO RESOURCE USE AND THE CIRCULAR ECONOMY + Positive impact or financial opportunity - Negative impact or financial risk ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Resource inflows related to products and services, including resource use + Atria promotes the sustainable use of raw materials by sourcing raw materials from responsible sources and by working closely with contract producers and other raw material suppliers. Cooperation and networking lay the foundation for developing the quality and sustainability of raw materials throughout the supply chain in the long term. Sustainability risks or opportunities exceeding the materiality threshold of reporting were not identified in the inflows of resources. Atria's environmental policy defines the principles with which Atria promotes the circular economy. Using raw materials and other resources as efficiently as possible, utilising side streams, and recycling valuable nutrients are important ways to reduce the climate and environmental impact of operations, while adding value to the whole value chain. Atria develops animal feeds, maximising the benefits of the circular economy, for example, by making extensive use of the various side streams of plant-based food production and the dairy industry, and by taking optimal feeding solutions into account on a farm-specific basis. Packaging + The positive impact on the entire value chain arises from packaging solutions that minimise the overall environmental impact of products. Sustainably designed packaging primarily protects the product and plays a key role in minimising environmental impacts throughout the product life cycle. Atria’s Environmental policy defines the principles that packaging development must follow. Packaging is designed to ensure food safety and reduce food waste, while optimising material efficiency and recyclability. Development work will focus on the principles of the circular economy, such as reuse and recycling, as well as sustainable material selection. - An increase in food waste and related environmental impacts is a negative impact on the entire value chain in the medium term. The effect will be realised if the new packaging solutions developed under the requirement of EU regulations are not as effective as the current technology in ensuring food safety and quality. Atria is preparing for future regulation, considering the requirements especially in the development of new packaging solutions. In addition, Atria aims to influence critical regulatory details through industry cooperation and to guide packaging development in business areas through internal networking. Resource outflows related to products and services + A sustainable way of producing food of animal origin in Nordic conditions ensures the availability and security of supply of nutritious and varied food locally. Atria manufactures and markets diverse and safe food products, ensuring that consumers have the opportunity to buy healthy and sustainably produced food. With the help of profitable business, Atria supports domestic primary production in the long term and reduces dependence on foreign food production chains, which improves the long-term security of supply in the domestic market. Sustainability risks or opportunities exceeding the materiality threshold of reporting were not identified in the outflows of resources. According to Atria's food safety, quality, nutrition and product responsibility policy, in addition to consumer needs and taste, sustainability matters such as ethical operations, environmental friendliness and nutritional properties of production are considered in productisation. Atria is committed to using only domestic meat raw material in its largest brand products. In Finland, the Atria chain plays a significant role in terms of food security and national security of supply. Atria participates in the activities of the state's security of supply organisation. 41SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 E5 IMPACTS, RISKS AND OPPORTUNITIES RELATED TO RESOURCE USE AND THE CIRCULAR ECONOMY S1 IMPACTS, RISKS AND OPPORTUNITIES RELATED TO OWN WORKFORCE + Positive impact or financial opportunity - Negative impact or financial risk ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Resource outflows related to products and services + Side streams from the slaughterhouses and food production that are not suitable for human consumption are valuable raw materials for the circular economy across many other industrial sectors. . Atria’s business model supports circular economy by channelling production side streams into the most value -adding sales channels, including exports, pet food raw materials and processing at rendering facilities. In Finland, A-Feed manages and processes side streams from other food industry partners into feed for farm animals. Waste + By reducing food waste in industry and producing products that meet consumer needs as closely as possible, Atria minimises the environmental impact of food waste both in its own operations and elsewhere in the value chain. Sustainability risks or opportunities exceeding the materiality threshold of reporting were not identified regarding waste. At Atria, waste and the prevention of waste generation are managed comprehensively through the planning of processes, products, product range and production. Wastage is managed in accordance with the same principles defined in the environmental policy in all business areas of the Group. For example, the types of process wastage have been identified, and indicators have been created to monitor them. Monitoring metrics are displayed at the departments, and day-to-day management reacts to deviations without delay. - Negative environmental impacts caused by food waste occur at every stage of the food chain. ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Working conditions + Secure employment: Predictability related to the employment relationship provides employees with the opportunity to plan their personal life. In addition, Atria offers opportunities for work in several locations. The identified risks and opportunities related to working conditions did not exceed the materiality threshold for reporting. Atria has competent human resources management and a comprehensive manager training program. In addition, Atria maintains guidelines for both employment relationships that are valid until further notice and fixed-term employment relationships. The guidance covers the different phases of working life, from probationary period to retirement. + Work-life balance: Atria offers its employees working time flexibility. Flexible working hours make working more efficient and take into account the different life situations of employees. Atria monitors the development of the labour market in the use of voluntary flexibility models. Development discussions address issues related to the work-life balance of employees at least once a year. The company has in place a time and attendance system in which both managers and employees can monitor working time accumulations and apply working time equalisation . Atria's HR maintains guidelines on various work flexibility models for both managers and employees. 42SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 S1 IMPACTS, RISKS AND OPPORTUNITIES RELATED TO OWN WORKFORCE + Positive impact or financial opportunity - Negative impact or financial risk ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Working conditions + Social dialogue, freedom of association and collective bargaining: Open social dialogue improves the personnel's ability to influence their own working environment and working conditions. In the long term, stability and predictability in the workplace will increase when the workplace has commonly agreed operating models, such as the freedom to join trade unions and cooperation negotiations. The HR administration guides the consultation and inclusion processes in accordance with the cooperation legislation at Atria. Atria maintains an active and regular dialogue between the social partners. At Atria, the policy is to inform employees about mat ters that are important to the company and to consult employees on matters that concern them. Employment relationships comply with collective agreements for salaried employees and employees. Employee's personal membership in the union is voluntary. + Health and safety: Atria supports employees' healthy lifestyles and safe working conditions to enable them to cope better at work and outside work in the long term. The employees’ well-being also has a significant impact on safety at work. In accordance with its personnel policy, Atria is committed to ensuring a safe working environment for employees. Health and safety at work in Atria's various business areas is governed by local legislation. Health and safety concern all Atria positions and workplaces. Atria has in force management practices, training and measures and practices based on risk assessments related to occupational safety. The well-being of the personnel is supported by taking into account the hazards and adverse factors in the working environment that affect work ability and health, as well as the resources of the work community and the employee. - Health and safety: Occupational injuries and accidents are possible if occupational safety issues are not in order. Equal treatment and equal opportunities for all + Gender equality and diversity: Atria's operating methods in accordance with the Code of Conduct to treat employees equally and without discrimination ensure that everyone has the same opportunities. The experience of equal treatment is a positive factor for employees' well -being at work in the long term. The identified risks and opportunities of equal treatment and equal opportunities for all did not exceed the materiality threshold for reporting. At Atria, HR decisions are based on mutually agreed non - discriminatory practices and processes. Atria has defined procedures for harassment and inappropriate behaviour. The operating methods are based on zero tolerance. Diversity and equality aspects are taken into account in personnel planning and personnel development. In accordance with the equality plan, the equality situation is evaluated annually. - Any experience of unequal treatment or discrimination could have a negative impact on the well -being of personnel. + Training and skills development: Employees have the opportunity to develop professionally and maintain their skills at a competitive level. HR management coordinates the mapping of personnel skills and capabilities and draws up targeted training plans in accordance with the company’s strategic targets, the annual personnel survey and personal development discussions. This allows each employee to be an active player in their own career, which strengthens motivation and commitment. 43SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 S4 IMPACTS, RISKS AND OPPORTUNITIES RELATED TO CONSUMERS AND END-USERS + Positive impact or financial opportunity - Negative impact or financial risk ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Personal safety of consumers and/or end -users - The endangerment of food safety is a potential negative impact on consumers. When realised, food safety risks can be serious and lead to illness, serious illness, or even death of a consumer or group of consumers. - The likelihood of a serious food safety risk is low. Its realisation could pose a significant financial risk to Atria's reputation. Food safety management systems at Atria’s production plants are GSFI-certified and covered by national authorities’ comprehensive supervision. Atria’s food safety management system accounts for the safety and health effects of products throughout their lifecycle from the acquisition of raw materials, manufacturing process and distribution chains all the way to consumer use. The food safety management system includes self-monitoring to ensure that the processes work properly, and products are safe for consumers. Self-monitoring at Atria is based on the Hazard Analysis Critical Control Points (HACCP) risk management system and the support system for self-monitoring. + Healthy choices and nutrition: Atria works to promote and communicate healthy choices by maintaining a wide range of products that support the building of a healthy diet. In Atria’s product range, a significant number of products meet the generally accepted criteria for healthier alternatives. The aim is to offer a wide range of options that meet generally accepted nutritional criteria (the Heart Symbol, the Keyhole Symbol). Atria actively communicates healthy choices and sustainability, supporting consumers in making informed decisions in their daily lives. + Use of antibiotics: Atria’s animal welfare policy requires the responsible use of antibiotics in the treatment of farm animals. Reducing the use of antibiotics has a long -term positive effect as it significantly reduces the emergence of antibiotic -resistant bacterial strains and the risk of spreading to humans. Sustainability risks or opportunities exceeding the materiality threshold for the use of antibiotics were not identified. Good practices in accordance with the animal welfare policy support the realisation of animal welfare and guide the use of antibiotics in Atria's supply chain. Social inclusion of consumers and/or end -users + Atria's products are widely available to consumers in different markets and price ranges, which promotes equitable access to nutritious products and supports social inclusion. Different diets and consumer groups are taken into account in productisation. This is a long-term positive impact on consumers and society at large. Product category management implements the company's strategy by ensuring that Atria has products at different prices for various consumer needs. In the development of products, Atria takes into account different diets and consumer groups. In addition, Atr ia is constantly developing its product range to make healthy and responsible alternatives available to all consumers. 44SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 G1 IMPACTS, RISKS AND OPPORTUNITIES RELATED TO BUSINESS CONDUCT + Positive impact or financial opportunity - Negative impact or financial risk ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Corporate culture + The Nordic corporate culture is based on respect for laws and regulations. Atria supports and maintains this culture through the company's policies and by providing training on their contents for management and employees. Atria’s corporate culture creates a safe working environment for personnel and provides all stakeholders with a reliable partner. Sustainability risks or opportunities exceeding the materiality threshold of corporate culture reporting were not identified. Atria's Way of Work (Values), Atria’s Way of Leading, Code of Conduct and policies that are key from the perspective of corporate culture create the basis for a healthy corporate culture. The corporate culture is maintained and strengthened by training the company's management and personnel. The implementation of compliance procedures and internal control support the management of the corporate culture. Corruption and bribery + Atria's actions to prevent corruption and bribery maintain a healthy and ethical business culture in the market environment and enable stakeholders to cooperate with a reliable operator. The identified sustainability risks and opportunities concerning corruption and bribery did not exceed the materiality threshold for reporting. Atria has a policy in place for preventing and exposing corruption and bribery. The personnel receive training on the practices included in the policy to understand and be able to act in situations where a risk of corruption or bribery has been identified. Training targets at-risk work duties. In addition, internal control procedures are in place. - Possible deficiencies in the prevention and control of, or personnel competence in relation to, corruption and bribery could lead to unethical decision -making, inappropriate influencing or unclear conflicts of interest. Such cases would undermine the integrity of t he market and public decision - making, distort competition and weaken shareholder confidence in food industry operators. 45SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 G1 ANIMAL WELFARE IMPACTS, RISKS AND OPPORTUNITIES + Positive impact or financial opportunity - Negative impact or financial risk ENVIRONMENTAL AND/OR SOCIAL IMPACTS RISKS AND OPPORTUNITIES FOR ATRIA STRATEGIC MANAGEMENT Animal welfare + Comprehensive animal welfare: Compliance with the minimum criteria in accordance with the Atria Group's animal welfare policy in the procurement of raw materials of animal origin supports and promotes the welfare work of contract partners on farms. In Finland, animal health systems, such as Naseva and Sikava, as well as the requirement of proactive health care from value chain contract partners, improve the quality of life of production animals and promote sustainability in the long term. In relation to the comprehensive welfare of the animals, sustainability risks or opportunities exceeding the materiality threshold of reporting were not identified. The operating methods in accordance with the animal welfare policy and procurement policies support the implementation and continuous improvement of animal welfare in Atria's supply chain. Atria promotes animal welfare in cooperation with its stakeholders (in particular authorities, customers, producers and industry experts) and by developing the production methods of its own contract production chain based on scientific research. - Comprehensive animal welfare: The operator's challenging financial situation, human or other factors may lead to neglect of animal welfare. Atria has built primary production operating models to support the work of producers and prevent deviations and neglect. + Comprehensive animal welfare: The development of the feed chain enables a positive impact on animal welfare and the environmental performance of the value chain through feeding in the short, medium and long term. The company's own feed business as well as the resourcing of data solutions, feeding expertise and research create prerequisites for knowledge management in feed development. The impacts of feed on production results, and indirectly, also on animal welfare can be verified in the production chain itself. + Biosecurity: Thanks to long-term work aimed at improving biosafety and preventing animal diseases, bios ecurity is at a high level in Atria's primary production chain. High bios ecurity has led to healthier animals and reduced the need for using medicines and antibiotics. - Failure of biosecurity measures could lead to the spread of animal diseases such as salmonella, African swine fever or other animal diseases which require legislative control. A larger animal disease epidemic could lead to disruption of production and interruptions in the supply of raw materials, which would also have significant financial consequences for Atria's business. Atria's biosecurity strategy aims at the prevention of animal diseases. Atria's biosecurity strategy has defined principles for managing animal disease risks both in its own operations and in primary production. Preventive operating methods related to bios ecurity have also been taken into account in the instructions for contract production. Atria has prepared continuity plans for its business for the most significant animal disease risks. Contract production is instructed in practical measures in the event of a potential animal disease risk. - Biosecurity: Failure of biosecurity measures could lead to the spread of animal diseases such as salmonella, African swine fever or other animal diseases which require legislative control. Animal disease cases lead to the systematic renovation of farms and cause production losses, which is financially challenging for producers. + Use of antibiotics: Atria’s animal welfare policy requires the responsible use of antibiotics in the treatment of farm animals. Reducing the use of antibiotics has a long -term positive effect as it significantly reduces the emergence of antibiotic -resistant bacterial strains and the risk of spreading to humans . Sustainability risks or opportunities exceeding the materiality threshold for the use of antibiotics were not identified. Good practices in accordance with the animal welfare policy support the realisation of animal welfare and guide the use of antibiotics in Atria's supply chain. 46SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GENERAL DISCLOSURES - ESRS2 MATERIAL SUSTAINABILITY IMPACTS, RISKS AND OPPORTUNITIES Introduction Identifying the impacts, risks and opportunities related to Atria's sustainability, as well as assessing their materiality, is part of the company's risk management process, strategic planning and decision - making. The key objective of the identification an d evaluation work is to prioritise the material issues related to sustainability for Atria's business. In addition to the company's own operations, the identification and assessment of impacts, risks and opportunities cover the upstream and downstream value chain and other stakeholders affected by Atria's operations. The assessment takes into account both short- and long-term impacts. Atria’s risk management process and its responsibilities are generally described in the Risks and risk management section of the report by the Board of Directors. Atria carried out a double materiality assessment of sustainability themes (hereinafter referred to as “DMA”) in accordance with the requirements of the EU’s Corporate Sustainability Reporting Directive for the first time in 2024. Extensive background stud ies were used in the assessment, and they were the basis for the company's current strategy ending in 2025 and the sustainability programme, as well as their annual updates. In accordance with the EU’s Corporate Sustainability Reporting Directive, the impact assessment considered potential impacts, risks and opportunities linked to environmental, social and governance-related sustainability matters. In accordance with the Figure here, the materiality has been assessed in two dimensions: (1) ’impact material ity’, meaning the impact of Atria on the environment and society, and (2) ’financial materiality’, referring to the impact of external factors on Atria's business. The assessment is based on the company's knowledge and understanding of the expectations of its stakeholders, as well as the positive and negative impacts, risks and opportunities related to the company's market environment. Assessment process At Atria, the materiality assessment is an annual four- step process aimed at continuous improvement: • Planning: The Sustainability Reporting Steering Group draws up a plan for carrying out the assessment, its schedule, and the frameworks and tools to be used, and appoints the people from the organisation who will take part in the process. • Preliminary expert assessment: The review and update of the assessment begin with an internal expert assessment, which examines previous findings and identifies potential new impacts, risks and opportunities with respect to ESRS -defined sustainability matters. At the same time, stakeholders’ views on the relevant impacts, risks and opportunities are also assessed, primarily gathered from those involved in operational cooperation with stakeholders. Supplementary information can be collected, if necessary, through a separately defined stakeholder consultation. • Consolidation: The Sustainability Reporting Steering Group processes the qualitative descriptions obtained from the preliminary expert assessments and harmonises the assessment with the help of scoring matrices, for example, so that the results represent materiality thro ughout the Group. • Consideration by the Group Management Team and the Board of Directors: The consolidated results will be compiled for review by the Atria Group Management Team and further for approval by the Board of Directors. During spring 2025, Atria’s double materiality assessment model was clarified and updated to align with the latest guidelines. A large group of Atria’s business representatives from different areas of expertise participated in the review and updating of th e previous assessment. The results of the assessment were consolidated by the Sustainability Reporting Steering Group and approved by the Atria Group Board of Directors in September 2025. The results of the double materiality assessment and the Group's annual risk assessment process guide the Group's sustainability risk management. The following pages provide detailed information about the results of the double materiality assessment and th e process applied. Double materiality approach 47SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 RESULTS OF THE DOUBLE MATERIALITY ASSESSMENT Atria has identified its impact on the environment and society (impact materiality assessment) as well as the risks and opportunities related to sustainability that are relevant to its business (financial materiality assessment). The results of the DMA mat rix show that E1 Climate change, E4 Biodiversity and ecosystems, E5 Resource use and circular economy, S1 Own workforce, S4 Consumers and end - users, and G1 Business conduct, including animal welfare, are the most relevant sustainability matters for Atria. The impact or risk with the highest score in each sustainability matter or sub -topic determines the ranking in the attached DMA matrix. DMA Matrix 48SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Material sustainability matters Atria's business is closely linked to the topics of E4 Biodiversity and ecosystems as well as E5 Resource use and circular economy from both a business and environmental perspective. The sustainability matters addressed by standard E1 Climate change are major global challenges. The climate crisis, biodiversity loss and overconsumption of natural resources affect the functioning of food production chains. The environmental impacts of Atria's products stem mainly from the production of meat raw materials. Sustainable and resilient food production also creates positive impacts on the company’s personnel (S1 Own workforce) and society (G1 Business conduct), as well as provides new business opportunities. The sustainability matters of standard S4 Consumers and end -users are centrally related to the implementation of Atria's Good Food, Better Mood mission. The production of safe products is a prerequisite for the continuity of food production. Caring for the welfare of animals is important to Atria. The sustainability matters of the G1 Business conduct standard identified positive impacts extending society as a whole through farm animal health, biosafety and responsible use of antibiotics. However, business risks were also identified in biosafety. The relevant topics of sustainability are covered in more detail hereafter in the environmental, social and governance information included in this Sustainability Statement. Other sustainability matters to monitor E2 Pollution: The impacts, risks and opportunities identified in the sustainability matters related to pollution were not material from the reporting perspective. In Atria's own industrial operations, environmental pollution is prevented in the manner spec ified in the environmental permit conditions. The impacts related to the sustainability matters of standard E2 Pollution, identified in Atria's value chain, are also regulated and monitored. E3 Water and marine resources: Atria is a significant user of water in its plant locations, and food production is dependent on the availability of clean water. Atria's plant operations are not located in water stress areas, and the operating models for re sponsible water use supported by the market environment are well established. The majority of water -intensive raw materials used by Atria in the value chain are also produced in countries where water stress is low. For these reasons, the sustainability matters of standard E3 Water and marine resources did not become material sustainability matters for reporting. S2 Workers in the value chain: Supply chain agreements require compliance with the Atria Code of Conduct. Atria Code of Conduct refers to international agreements that cover the sustainability matters included in standard S2 Workers in the value chain. Atr ia Code of Conduct is described in more detail in section G1 Business conduct. Atria collects information about its supply chain in accordance with the due diligence process, the main features of which are described in the governance information of the Sustainability Statement and in section G1 Business conduct. The likelihood of adverse effects on employees in the value chain in the topics detailed in the sustainability matters of standard S2 is unlikely in Atria's supply chain, as requirements concerning them have been established by law in the countries from which Atria purchases commodities. S3 Affected communities: Atria's own industrial operations and the majority of raw material suppliers are located in EU countries where political stability and well -being are at a high level. The legislation and regulatory oversight in operating countries support the promotion of S3 standard’s sustainability matters comprehensively. DOUBLE MATERIALITY ASSESSMENT METHOD Methods and assumptions Environmental assessment has made extensive use of international frameworks and tools such as The Task Force on Climate-related Financial Disclosures (TCFD), Task Force for Nature -related Financial Disclosures (TNFD), Exploring Natural Capital Opportunities, Risks and Exposure (ENCORE), WWF Water Risk Filter and WWF Biodiversity Risk Filter. The assessment of Atria's own operations has applied reports behind the business areas' environmental management and plant -specific environmental permits. For the entire supply chain, important sources of information for identifying the impacts were both A tria's climate impact-focused life cycle assessments of its own supply chain and the broader life cycle assessments of livestock production that also take other environmental impact categories into account in research conducted in the Nordic countries. The assessment of Atria's environmental impacts is based on a study carried out in 2023 on the environmental impacts of food production. The main principle of the study was to review nature impact drivers (climate change, changes in land -use, changes in the use of freshwater and marine resources, direct exploitation, invasive alien species, pollution and other factors) according to the UN’s Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) at different levels based on publicly available reports and expert publications. In addition, the above -mentioned international tools have already been utilised in the DMA process. For the top -level overall assessment, the ENCORE framework, which examines the impacts on biodiversity and ecosystems at the industry level as well as dependencies on ecosystem services has been chosen. The ENCORE tool h as been used to assess the materiality of impact factors which have a high and very high score and the materiality of the related system risks from the perspective of Atria's own operations and the upstream value chain. In addition, the WWF Biodiversity Ri sk Filter tool has been used in the materiality assessment. Climate and energy, environmental pollution and the use of water and other resources are part of the environmental assessment process of Atria's production plants. The process is guided by an approach in accordance with the ISO 14001 and ISO 50001 standard s. The evaluation process includes the screening of operations and assets along the entire value chain, as well as consulting relevant stakeholders. The environmental impacts of production plants are assessed in accordance with the 49SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 environmental permit process, for example, in the environmental impact assessments of investment projects. The need for an environmental impact assessment is decided by the local contact authority. Significant aspects identified in the framework of the uni ts’ environmental management have been included in the Group's DMA process. The climate resilience of Atria's business has been assessed in the short, medium and long term by examining climate-related transition and physical risks and opportunities in accordance with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. Physical risks were assessed in accordance with the Commi ssion Delegated Regulation (EU) 2021/2139. The regulation categorises threats related to temperature, wind, water and soil into chronic and acute risks. Climate change-related physical risks can cause disruptions in the distribution of utilities, increase the energy demand for cooling and heating production facilities, and strain factory properties, shortening their technical lifespan. In the supply chain, physical risks lead to increased uncertainty in crop yields and, consequently, the availability and ma rket prices of production inputs through various factors, Transition risks have been assessed according to the TCFD classification in events related to the regulatory environment, technology, markets, and reputation to which Atria's business may be exposed . Regulatory environment risks may manifest as tightening legislation, which can increase operating costs and require significant investments in low -carbon technologies. Technological risks may relate to the inability of rapidly implemented technology to r educe emissions as expected. Reputational and market risks include increasing demands from customers and consumers for sustainability and transparency, which can affect product demand and market share if expectations are not met. The assessment assumptions were based on scenarios from the IPCC Sixth Assessment Report and reports from the World Meteorological Organization (WMO). There are no critical climate -related assumptions in the financial statements. So far, Atria has not identified any assets or busin ess operations that would be incompatible with the transition to a climate -neutral economy. A more detailed investigation will be conducted in conjunction with the annual assessment of taxonomy criteria compliance. In the assessment of the negative impacts on consumers, consumers are assessed according to the risk groups defined by legislation and food safety standards. In food safety systems, risk assessment is based on consideration of risk groups and the need for products to be safe for all consumer groups. Key input data is generated by the due diligence process in identifying, analysing, and determining controls for impacts, risks, and opportunities concerning corporate governance and corporate culture. In addition, data is produced by reputation surveys an d industry reports, media monitoring and the whistleblowing channel. The starting point of the due diligence process is to identify the geographical location, activity, industry and business structure of the actors in own operations and value chain. The geographical location has a key impact on the regulatory environment for both own and value chain operations. In accordance with Atria's p rocurement policy, supply chain partners are evaluated from the perspective of the supplier's size, financial situation, compliance with legal requirements, reputation, ownership structure, operational risks, business structure and set sustainability targe ts. The key elements of the due diligence process applied by Atria are reported in the summary table in the strategy section of the Sustainability Statement. Scope The impact of Atria's own operations on people and the environment, as well as the potential risks and opportunities for the business, have been identified and assessed, focusing on own industrial production and manufactured products. Value chain assessmen ts focused mainly on first tier suppliers. The impact assessment has considered both actual and potential negative and positive impacts. Potential sustainability-related risks and opportunities that may have a financial impact on Atria's business directly or through the value chain have been assessed in the financial analysis. Assessment time span The assessment of impacts, opportunities and risks has considered short-, medium- and long-term impacts, opportunities and risks in line with the time frames set out in the risk management policy: • Short term means the next 12-month period. • Medium-term refers to the strategy period (1 -5 years). • Long-term refers to the time beyond the strategy period (over 5 years). Importance of stakeholders Atria has an ongoing dialogue with its key stakeholders, which is why Atria's key personnel and experts have an overview of the interests and views of the stakeholders. Atria's stakeholder relations are explained in more detail in the strategy section of the Sustainability Statement. Internal experts from all business areas and Group functions have been involved in carrying out the double materiality assessment. The importance of stakeholders has been emphasised in the assessment of the materiality of the impacts. A sustainability ma tter may be material for reporting if stakeholders expect from Atria transparency, enabled by sustainability reporting, in the management of a matter related to sustainability. The double materiality assessment is a process recurring yearly. Discussions with key stakeholders on the 2024 results were used to update the 2025 assessment. Stakeholders who participated in the discussions included the company's administration and its o wn personnel, customers, financiers, suppliers of goods and services. 50SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Impact materiality The impact materiality assessment set assessment scales for both positive and negative impacts, considering the scale, scope, duration and the irremediable character of the impacts of different sustainability matters. The materiality of the impacts was calculated for each sustainability matter by multiplying the highest score of the impact by the likelihood sco re, with an emphasis on stakeholder relevance. The parameter with the highest score was considered in the impact assessment: • Scale was scored to assess the impact of Atria's activities on the environment or society. • The scoring of the scope assessed the extent to which the impact affects the related impact targets, such as number of sites, share of employees, geographic reach. • The scoring of the irremediable character assessed how difficult it is to repair damage in terms of costs and the time horizon. The impact of a sustainability matter is material when it relates to material actual or potential positive or negative impacts that Atria has on the environment, society and governance in the short -, medium- or long-term. The impacts include, among other things, those related to Atria's own operations and the upstream and downstream of the value chain. Financial materiality Risks and opportunities related to sustainability matters were assessed based on standardised monetary amounts determined in the Atria Group's risk management process. Due to the complexity of determining the exact values of potential sustainability risk scenarios, monetary quantification was also complemented by qualitative assessmen ts. The likelihood was assessed using the scale defined in Atria's risk management process. Based on the likelihood and financial impact values, a materiality value has been calculated for all sustainability sub-topics, which guides the management and follow -up of the identified impacts in accordance with the process approved by the company's Boa rd of Directors. From a financial point of view, a sustainability matter is material if it causes, or can reasonably be expected to cause, material financial impacts for Atria. Risks and opportunities have a material impact or can reasonably be expected to have a material impact on Atria's development, financial position, financial performance, cash flows, access to finance, or capital costs in the short -, medium- or long- term. 51SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GENERAL DISCLOSURES - ESRS 2 DISCLOSURE REQUIREMENTS AND INCORPORATION BY REFERENCE The following tables list all the disclosure requirements for ESRS 2 and the five sustainability standards relevant to Atria. The tables describe the location of the information related to the disclosure requirements in the Sustainability Statement or included by reference to the financial statements information (FS). All disclosure requirements of the thematic standards E2, E3, S2 and S3 are omitted from the tables as they are below the materiality threshold for reporting. Non-industry cross-cutting standards Disclosure requirement Page Additional information ESRS 2 General disclosures BP-1 General basis for preparation of the sustainability statements 30 BP-2 Disclosures in relation to specific circumstances - Possible deviations from the data requirements of the standard have been taken into account in the compilation principles of the relevant indicators. GOV-1 Role of the administrative, management and supervisory bodies 30-32 GOV-2 Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies 30-32 GOV-3 Integration of sustainability-related performance in incentive schemes 31 GOV-4 Statement on sustainability due diligence 32 GOV-5 Risk management and internal controls over sustainability reporting 32 SBM-1 Strategy, business model and value chain (Products, markets, customers) 33 Strategy, business model and value chain (Number of employees by geographical area) 34 Strategy, business model and value chain (Distribution of net sales) 33 SBM-2 Interests and views of stakeholders 36-38 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 39-46 IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities 47-51 IRO-2 Disclosure Requirements in ESRS covered by the undertaking’s sustainability statements 52-55 Environmental information Disclosure requirement Page Additional information ESRS E1 Climate change ESRS 2, GOV-3 Integration of sustainability-related performance in incentive schemes 31 E1-1 Transition plan for climate change mitigation 61 ESRS2, SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 39-40 ESRS 2, IRO-1 Description of the processes to identify and assess material climate -related impacts, risks and opportunities 49-50 E1-2 Policies related to climate change mitigation and adaptation 61-62 E1-3 Actions and resources in relation to climate change policies 62-66 E1-4 Targets related to climate change mitigation and adaptation 62 E1-5 Energy consumption and energy mix 55 ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GENERAL DISCLOSURES - ESRS 2 DISCLOSURE REQUIREMENTS AND INCORPORATION BY REFERENCE The following tables list all the disclosure requirements for ESRS 2 and the five sustainability standards relevant to Atria. The tables describe the location of the information related to the disclosure requirements in the Sustainability Statement or included by reference to the financial statements information (FS). All disclosure requirements of the thematic standards E2, E3, S2 and S3 are omitted from the tables as they are below the materiality threshold for reporting. Non-industry cross-cutting standards Disclosure requirement Page Additional information ESRS 2 General disclosures BP-1 General basis for preparation of the sustainability statements 30 BP-2 Disclosures in relation to specific circumstances - Possible deviations from the data requirements of the standard have been taken into account in the compilation principles of the relevant indicators. GOV-1 Role of the administrative, management and supervisory bodies 30-32 GOV-2 Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies 30-32 GOV-3 Integration of sustainability-related performance in incentive schemes 31 GOV-4 Statement on sustainability due diligence 32 GOV-5 Risk management and internal controls over sustainability reporting 32 SBM-1 Strategy, business model and value chain (Products, markets, customers) 33 Strategy, business model and value chain (Number of employees by geographical area) 34 Strategy, business model and value chain (Distribution of net sales) 33 SBM-2 Interests and views of stakeholders 36-38 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 39-46 IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities 47-51 IRO-2 Disclosure Requirements in ESRS covered by the undertaking’s sustainability statements 52-55 Environmental information Disclosure requirement Page Additional information ESRS E1 Climate change ESRS 2, GOV-3 Integration of sustainability-related performance in incentive schemes 31 E1-1 Transition plan for climate change mitigation 61 ESRS2, SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 39-40 ESRS 2, IRO-1 Description of the processes to identify and assess material climate -related impacts, risks and opportunities 49-50 E1-2 Policies related to climate change mitigation and adaptation 61-62 E1-3 Actions and resources in relation to climate change policies 62-66 E1-4 Targets related to climate change mitigation and adaptation 62 E1-5 Energy consumption and energy mix 67 52SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Environmental information Disclosure requirement Page Additional information ESRS E1 Climate change E1-6 Gross Scopes 1, 2, 3 and Total GHG emissions 68-69 E1-7 GHG removals and GHG mitigation projects financed through carbon credits - Carbon credits are not enabled E1-8 Internal carbon pricing - No internal carbon pricing applied E1-9 Anticipated financial effects from material physical and transition risks and potential climate-related opportunities - Not reported with a transition period ESRS E4 Biodiversity and ecosystems E4-1 Transition plan and consideration of biodiversity and ecosystems in the strategy and business model 77 ESRS 2, SBM-3 Material impacts, risks and opportunities and their interaction with the strategy and business model 40 ESRS 2, IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities related to biodiversity and ecosystems 49-50 E4-2 Policies related to biodiversity and ecosystems 77 E4-3 Actions and resources related to biodiversity and ecosystems 78 E4-4 Targets related to biodiversity and ecosystems 79 E4-5 Impact metrics related to biodiversity and ecosystems change 79 E4-6 Anticipated financial effects from biodiversity and ecosystem -related impacts, risks and opportunities - Not reported with a transition period ESRS E5 Resource use and circular economy ESRS2, IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities 49-50 E5-1 Policies related to resource use and circular economy 80 E5-2 Actions and resources related to resource use and circular economy 81 E5-3 Targets related to resource use and circular economy 80 E5-4 Resource inflows 81-82 E5-5 Resource outflows 81-82 E5-6 Anticipated financial effects from resource use and circular economy -related impacts, risks and opportunities - Not reported with a transition period 53SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Social information Disclosure requirement Page Additional information ESRS S1 Own workforce ESRS 2, SBM-2 Interests and views of stakeholders 37 ESRS 2, SBM-3 Material impacts, risks and opportunities and their interaction with the strategy and business model 42-43 S1-1 Policies related to own workforce 84 S1-2 Processes for engaging with own workforce and workers’ representatives about impacts 86 S1-3 Processes to remediate negative impacts and channels for own workforce to raise concerns 86 S1-4 Taking action on material impacts on own workforce, and approaches to managing material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions 87 S1-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities 87 S1-6 Characteristics of the undertaking’s employees 87-88 S1-7 Characteristics of non-employees in the undertaking’s own workforce - Atria does not collect information on the characteristics of non-employees. S1-8 Collective bargaining coverage and social dialogue 89 S1-9 Diversity metrics 89 S1-10 Adequate wages 89 S1-11 Social protection 89 S1-12 Persons with disabilities - Data collection is not allowed in all countries. S1-13 Training and skills development metrics 89 S1-14 Health and safety metrics 90 S1-15 Work-life balance metrics 90 S1-16 Remuneration metrics 90 S1-17 Incidents, complaints and severe human rights impacts 90 ESRS S4 Consumers and end-users ESRS 2, SBM-2 Interests and views of stakeholders 36 ESRS 2, SBM-3 Material impacts, risks and opportunities and their interaction with the strategy and business model 44 S4-1 Policies related to consumers and end- users 92 S4-2 Processes for engaging with consumers and end -users about impacts 92 S4-3 Processes to remediate negative impacts and channels for consumers and end -users to raise concerns 92 S4-4 Taking action on material impacts on consumers and end -users, and approaches to managing material risks and pursuing material opportunities related to consumers and end -users, and effectiveness of those actions 93 S4-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities 94 54SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Governance information Disclosure requirement Page Additional information ESRS G1 Resource use and circular economy ESRS 2 GOV-1 Role of the administrative, management and supervisory bodies 30-32 ESRS 2, IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities 50 G1–1 Business conduct policies and corporate culture 95-96 G1–2 Supplier relations 97 G1–3 Prevention and detection of corruption and bribery 97 G1–4 Incidents of corruption or bribery 97 G1–5 Political influence and lobbying activities - Not relevant. Atria is registered in the EU's Transparency Register, where the advocacy activities required by law are reported. G1–6 Payment practices - Not relevant. Atria complies with the UTP directive in payment practices. 55SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ENVIRONMENTAL INFORMATION EU TAXONOMY The European Union’s Member States are working to address the challenges related to climate change and environmental pollution through the EU’s Green Deal programme. One of the programme’s objectives is to achieve carbon neutrality in the EU by 2050. The E U has developed a classification system for sustainable economic activities, entitled the EU taxonomy (EU 2020/852, 18 June 2020). The objective of the taxonomy is to have the financial markets to allocate capital to environmentally sustainable solutions. The taxonomy defines the activities that fall within the scope of the classification system (= taxonomy - eligible activities), as well as the criteria for which of the activities that fall within the scope of the classification system are in accordance with the taxonomy, i.e. environmentally sustainable activities, and which are not. The taxonomy is based on six environmental objectives: 1) climate change mitigation. 2) climate change adaptation. 3) sustainable use and protection of water and marine resources. 4) transition to a circular economy. 5) pollution prevention and control. 6) protection and restoration of biodiversity and ecosystems. Business is environmentally sustainable if it contributes significantly to one or more taxonomy objectives and, at the same time, does not cause significant harm to other objectives. It is also required that business complies with the requirements of the m inimum safeguards defined and meets the technical screening criteria established by the EU. The minimum safeguards cover four different areas: human rights, bribery, fair competition, and taxation. They seek to ensure that companies comply with internationally accepted business principles in their operations. Atria respects and supports internationally recognised human rights principles and requires all its employees, suppliers and subcontractors to comply with these principles. In accordance with its Code of Conduct, Atria has zero tolerance for any kind of co rruption or bribery. Atria complies with competition law and related practices. In taxation, Atria is committed to complying with both national and international tax regulations, reporting and paying taxes in an accurate and timely manner, and minimising tax-related risks. The EU's technical assessment criteria for the different environmental objectives have been published in delegated regulations. The food industry’s operations have not yet been included in the classification system, and no specific evaluation criteria have therefore been published for them. In addition, Atria did not make any investments within the scope of the classification system in 2025. Atria will continue to evaluate and implement its operations in accordance with the taxonomy criteria in 2026. ACTIVITIES RELATED TO NUCLEAR ENERGY AND FOSSIL FUELS Nuclear energy–related activities 1. The company carries out or finances research, development, demonstration and deployment of innovative electricity generation facilities that produce energy through nuclear reactions, with the aim of minimising waste generated throughout the fuel cycle, or the company has exposures to such activities. No 2. The company carries out or finances the construction and safe operation of new nuclear facilities for the production of electricity or process heat, including for district heating or industrial processes such as hydrogen production, as well as the enhancement of their safety, using best available technologies, or the company has exposures to such activities . No 3. The company carries out or finances the safe operation of existing nuclear facilities producing electricity or process heat, including for district heating or industrial processes such as hydrogen production based on nuclear energy, as well as the enhancement of their safety, or the company has exposures to such activities No Fossil gas–related activities 4. The company carries out or finances the construction or operation of electricity generation facilities using fossil gaseous fuels, or the company has exposures to such activities. No 5. The company carries out or finances the construction, refurbishment or operation of combined heat and power or combined cooling and power facilities using fossil gaseous fuels, or the company has exposures to such activities . No 6. The company carries out or finances the construction, refurbishment or operation of facilities producing heat or cooling using fossil gaseous fuels, or the company has exposures to such activities No 56SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ACCOUNTING POLICIES FOR INDICATORS Turnover In the taxonomy tables, the same accounting principles in accordance with the International Financial Reporting Standards (IFRS) have been used in the calculation of turnover as in the consolidated financial statements. Further information can be found in Note 2 to the consolidated financial statements. Capital expenditure (CapEx) In the calculation of capital expenditure in the taxonomy tables, Atria has included increases in tangible fixed assets recognised on the balance sheet based on tangible and intangible assets for the financial year and lease agreements. Tangible assets inc lude investments in buildings, machinery and equipment. A breakdown of investments is available in Note 12 and 14 to the consolidated financial statements. In 2025, Atria did not have taxonomy -eligible investments that would improve energy efficiency and utilise renewable energy. Operating expenditure (OpEx) The calculation of operating expenses presented in the taxonomy tables takes into account the labour costs and spare parts related to the repair, maintenance and servicing of buildings and machinery and equipment, as well as external services. 57SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 58SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 59SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 60SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ENVIRONMENTAL INFORMATION - ESRS E1 CLIMATE CHANGE TRANSITION PLAN Atria is committed to reducing its greenhouse gas emissions in line with the Paris Agreement's 1.5°C targets and to developing its business resilience to the impacts of climate change. The target level of Atria's emission reductions is based on climate science and approved by SBTi (the Science Based Target initiative). Atria's medium -term SBTi target has been set and approved in 2022, extending to 2030. In connection with target setting, the emissions of the Atria Group companies were mapped in all emission classes (Scope 1, 2, 3). The survey was carried out with data from 2020, which is also a base year for the targets. Based on the results of the mapping, the most significant emission sources which the measures of the transition program target have been id entified. The majority of Scope 1 and Scope 2 emissions is generated in Atria Finland's operations. The major source of emissions in the value chain (Scope 3) is the production of meat used as a raw material. The current target has been set according to an industry-independent 1.5°C scenario. Atria will update the target setting according to the SBTi sector-specific guidelines (Forest, Land, and Agriculture, FLAG) and then align the company's long-term net zero targets more precisely. Atria's business strategy and transition plan have been assessed in three different climate scenarios in accordance with the TCFD recommendations. A more detailed process for identifying and assessing climate-related impacts, risks and opportunities is des cribed in section Material sustainability impacts, risks and opportunities. The results show that Atria is prepared for both a major transition and possible adaptation challenges. The company is able to reduce its emissions as required by the 1.5 °C pathway and ensure profitable operations while managing the identified risks and seizing new opportunities, strengthening the company’s long -term value-creating capacity. The key physical risks and transition risks identified in the scenario analysis primarily affect Atria's value chain. Medium - and long-term physical risks include the direct impacts of climate change on agriculture. They can change production conditions and thus affect the availability and price of raw materials. Transition risks related to climate change mitigation and adaptation may weaken the company's competitivene ss in the medium and long term if the costs related to emission -reducing technologies and adaptation measures cannot be covered by sales revenue or other revenues. Thus, economic factors may cause greenhouse gas emissions to be locked in the value chain, in particular. Atria's emission profile is particularly affected by methane emissions from cattle metabolism and greenhouse gas emissions from organic soils, the reduction possibilities of which are limited with current production technologies. For this rea son, some of the emissions can be considered structurally locked -in, and their reduction requires long -term development work throughout the value chain. So far, Atria has not identified any significant greenhouse gas lock -in related to physical assets or investments, which could jeopardise the achievement of Atria's emission reduction targets. Promoting energy efficiency and increasing the share of emission- free energy sources are key measures in reducing emissions from own operations. Energy -related medium- and long-term transition risks are managed through energy planning. Energy planning aims at achieving emission targets and managing energy price risks. The physical risks of the value chain have been prepared for by developing the flexibility of supply chains and the versatility o f supply sources. The most significant emission reduction targets in the value chain primarily concern Atria's direct contract -based primary production. The main means of reducing emissions from primary production are the development of productivity, cultivation methods, manure processing and feed solutions. In addition, Atria builds the capability to identify emission sources in its primary production chain and verifies the effectiveness of climate action at the farm level. The Board of Directors approved the transition plan during the 2025 financial year. Climate -related risks and their impact on business are reported to Atria's Board of Directors. Atria Group's Board of Directors monitors the implementation of the transitio n plan annually. The members of Atria Group Management Team, in their areas of responsibility, are responsible for assessing and managing climate risks and making strategic decisions based on these risks. The measures in accordance with the transition plan are included in Atria's Group strategy. During the reporting year, Atria has promoted the objectives in accordance with the transition plan. Atria did not have any economic activities or investments falling within the scope of the delegated regulations on climate change adaptation or mitigation adopted under the taxonomy regulation during the reporting year. Atria's economic activities are not excluded from the EU's Paris Agreement benchmarks. POLICIES Atria's environmental policy defines a number of measures for combating climate change and adapting to it. In terms of combating climate change, Atria is committed to reducing its greenhouse gas emissions in accordance with the 1.5°C targets of the Paris Agreement. The company has set SBTi targets based on climate science for emissions from both its own operations (Scope 1 and 2) and the value chain (Scope 3). Promoting energy efficiency and increasing the share of emission -free energy sources are key measures in reducing emissions from own operations. T he reduction of emissions in the value chain focuses on the primary production chain, where production efficiency, cultivation methods and animal feed solutions are developed. In terms of adaptation to climate change, key means of promoting climate-friendly and environmentally friendly technology and best practices in own operations as well as in the value chain are multidisciplinary networking and cooperation with operators, experts and scientists in the field. Emissions calculation and reporting are based on the GHG protocol framework. In addition to the climate commitment, the company is committed to continuous improvement of environmental and energy efficiency in its environmental policy and to protecting the environment from pollution. Environmental policy is one of Atria's corporate policies. It applies to all Atria subsidiaries and is available in its entirety on the company's website. The governance of Group policies is described in 61SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 section G1 Business conduct. Atria's environmental policy has implications for both internal and external stakeholders. Internal stakeholders include employees and functions responsible for achieving environmental objectives and implementing policies. Exte rnal stakeholders include 1) value chain partners involved in joint development activities, 2) authorities that set minimum standards for operations, as well as 3) consumers and customers whose views are heard on environmental responsibility and the setting of targets. The maintenance of environmental management and performance is guided by the requirements of certified quality, environmental management and energy management systems of production facilities, as well as the management principles defined in t he environmental policy. Performance is systematically monitored at all levels of the organisation. In Atria's value chain, suppliers are required to commit to Atria Supplier Code of Conduct or their own similar principles, which set minimum requirements for the environmental sustainability of supply chain operators. The operating principles require the suppliers to comply with the UN Global Compact's environmental sustainability principles, among other things. TARGETS Atria's targets for reducing greenhouse gas emissions are in line with the Paris Agreement's 1.5°C targets and serve as a roadmap towards a carbon -neutral food chain. In the targets approved by SBTi, Atria commits to reducing greenhouse gas emissions in it s own operations (Scope 1 and 2) by 42 per cent by 2030 from the 2020 levels. This means reducing emissions in absolute tonnage by 35,000 tCO2e from the base year’s 83,500 tCO 2e level. The Scope 2 objective is based on a market -based calculation. The reduction target for the value chain’s (Scope 3) emissions is 20 per cent per tonne of processed meat by 2030. This means a total reduction of emissions in absolute tonnage of about 380,000 tCO2e. The SBTi targets are based on the Group's greenhouse gas inventory and are thus in line with the scope of the company's greenhouse gas inventory and environmental policy. Progress in achieving these targets is regularly monitored and reported to the com pany's senior management and Board of Directors. ACTIONS AND RESOURCES Own operations In reducing the emissions of Atria's own industrial operations, the key is a controlled transition towards the use of emission-free and renewable forms of energy, as well as the promotion of energy efficiency. Potential measures for each production facilit y to meet the emission targets have been mapped. The actions concern fuels and energy sources used for heat production at production facilities, as well as the introduction of new technology. Actions that require investments depend on the availability of resources in relation to the company's investment capacity and the continuity of access to financing at a reasonable cost of capital. Actions in 2025 • Atria has decided to invest EUR 82.4 million in the modernisation of convenience food production and emission-free energy solutions in Nurmo. The project includes the renovation of an existing production plant and the replacement of structural and other machinery and equip ment with more energy-efficient machinery and equipment. The renovation will reduce energy use by 50,000 MWh and CO₂ emissions by 20,500 tonnes at annual level. This project will receive EUR 24.7 million in clean transition investment support from Business Finland. • Construction work for the electric boiler investment at Atria Finland’s Nurmo plant were began as planned during 2025 by a collaboration partner. The total cost of the project is approximately EUR 7 million, and Atria rents electric boilers from a partner. The annual emission reduction effect of the investment in an electric boiler is estimated to be 12,000 tCO 2e (electrification). • The largest factory units have certified energy management systems that systematically manage energy use and continuous improvement of energy efficiency. In 2025, energy -efficiency measures were implemented across all of Atria’s business areas, such as LED lighting upgrades. • A-Rehu has made an agreement to purchase solar electricity from a nearby solar power plant starting in 2026. The contract has an annual emission reduction effect of approximately 1,150 tCO2e. Future action plan Energy guarantees of origin • Obtaining guarantees of origin for electricity enables the management of market-based emissions (Scope 2) related to purchased energy. Guarantees of origin can also be obtained for purchased district heating. The costs related to guarantees of origin are small in the total energy costs and are recognised as an annual expense in the company 's income statement. 62SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Electrification • The investment in an electric boiler at the Nurmo plant makes it possible to replace fossil fuels with electricity, which reduces emissions by an estimated 12,000 tCO 2e. The investment is made by a partner from whom Atria leases electric boilers. The related costs are recognised in the income statement in accordance with IFRS 16. • An investment of EUR 82.4 million in the Nurmo food factory will reduce emissions by an estimated 20,500 tCO2e per year from 2028 onwards. • The emission reductions of the future actions being implemented are based on replacing fossil fuel by the electrification of heat production and by committing to the acquisition of emission -free energy, including renewable energy. Use of renewable energy • Atria is considering options to increase the use of renewable energy in its own operations. The aim is to move towards cost-effective solutions that enable emissions to be reduced, especially in the context of replacement investments. Such emission -reduction potential has been estimated at 25,000 tCO2e in the Group's business areas. The investment needs related to the actions have not been included in the transition plan, as more detailed technical plans have not yet been drawn up. • Atria continuously evaluates the cost -effectiveness and emission reduction potential of different options to implement the transition to renewable energy as effectively and as economically sustainably as possible. Energy efficiency • Energy efficiency actions, such as process development and heat recovery, reduce overall energy consumption and improve resource efficiency. • The investment in the future food factory is a comprehensive modernisation of production, which also takes into account the plant’s energy systems. The investment will significantly improve the efficiency of production processes and energy use. • Within the framework of certified energy management systems, Atria systematically carries out energy audits and continues to continuously improve energy efficiency in line with the Energy Efficiency Directive (EU 2023/1791) in all its business areas. • In addition, the old refrigeration systems still in use in Estonia will be replaced by modern, emission-free and more energy-efficient solutions when they reach the end of their technical service life by 2029. This measure is estimated to bring about annua l emission reductions of around 1,800 tCO2e. Actions under the transition plan, Scope 1 and 2 63SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Value chain The measures in the value chain initially target Atria Finland’s contract -based primary production. It is the most significant source of emissions in the entire Atria Group. The measures in the value chain have been identified in cooperation with contract producers. Atria’s ongoing activities in Finland (development of productivity, reducing the use of soy, storage and treatment of manure, increasing the share of renewable energy) are estimated to provide emission reductions of a total of 170,000 tCO 2e by 2030. The demonstration of positive development with the reported key figures takes place with a delay, because the verification of the effectiveness of the measures taken requires the use of comprehensive primary data in the emissions calculation. Therefore, th e reduction of emissions in the value chain does not appear to be a linear development. The emission reduction measures carried out in own primary production chain will start to show in full in the total emissions only when the coverage of the calculation can also be increased in beef and pork production to more than 50 per cent of the contract production facilities. Actions in 2025 • There was considerable progress in the systematic measurement of the carbon footprint of cattle farms in the reporting year. The measurement is carried out with the Carbo® environmental calculator developed jointly by Valio and the Natural Resources Instit ute Finland Luke. From the beginning of 2024, the use of the Carbo® environmental calculator has been possible at Atria's contract production farms. With this calculator, Atria’s more than 1,200 contract farms specialising in beef production can calculate their environmental impacts and explore the most efficient ways to reduce them. • Carbon footprint calculators for chicken and pork production have been developed in cooperation with Envitecpolis Oy. Contract production farms can calculate their climate impacts with the EnvitecVision environmental calculator and identify the most effect ive measures to reduce them. The calculators are used to verify the effectiveness of the measures carried out according to the plans. In 2025, chicken farms carried out the second calculation covering the entire value chain, and calculation for pork produc tion expanded considerably. The carbon footprint of chicken production has decreased by 8 .2 per cent and that of traceable pork farms by 8.3 per cent compared with 2020. • Soybeans used as feed material are the most significant single source of emissions in pork and chicken production. Feed development aimed at reducing the use of soy continued in Finland. The share of soy in chicken feed in 2025 was 11.5 per cent and in pig feed 1.6 per cent. Measures being implemented Productivity development • The goal of the pig chain is an annual productivity growth of about 3 per cent. Atria’s smart pig farm project promotes the development of productivity. The impact of productivity development on pork emissions is estimated to be a 1 per cent reduction per year. The measure is estimated to continue at least until 2030. • It is possible to increase the productivity of the beef chain by increasing beef cross -breeds, steering the sex distribution and the general development of the productivity of beef breeds, as well as better utilisation of the carcass weight potential. The impact of these measures on the carbon footprint of beef is estimated to be a n eight per cent reduction in ten years. The measure is estimated to continue at least until 2030. • Chicken production efficiency is already very high. The emission reduction potential of the carbon footprint by intensifying the production of chickens is estimated at 2 per cent in ten years. • There are no direct cost impacts associated with the development of productivity. The positive financial effects associated with the development of productivity a ffects the producers in the value chain. Renewable energy • The farms will continue to invest in renewable energy (especially solar panels) and replace the remaining oil boilers with low-emission technologies. In addition, the share of renewable fuels in fuels used in road transport will increase, for example, with the distribution obligation and the emissions trading system 2. The importance of energy in the carbon footprint of meat production is <10 per cent, and these measures are estimated to reduce the carbon footprint of production lines by 2 per cent by 2030. The economic impacts are estimated to be neutral in the value chain, and they do not directly affect Atria. 64SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Reduction in soy use • In chicken production, it has been estimated that the use of soy can be reduced by 30 per cent without having to resort to a significant amount of foreign feed raw materials. By refining domestic protein sources and improving the feed efficiency, the need for soy in animal feed can be further reduced. The impact of these measures on the carbon footprint of chicken is estimated at -5 per cent in ten years. • In pork production, the goal is to halve the use of soy from the current share of 2 per cent to 1 per cent. The impact of halving on the carbon footprint of pork is about -5 per cent in ten years. • Soy is not used in the Atria beef value chain. • The economic impact of soy use has been assessed by the difference in the price of alternative protein sources. Manure storage and treatment • The emission reduction impact of manure processing from Atria’s primary production chain to existing and under construction biogas plants is estimated to be 30,000 tCO 2e by 2030. The economic impact is neutral, as it does not require new investments from Atria or the value chain, except in the case of on-farm biogas plants, whose implementation is assessed economically within the value chain as an independent process. Future action plan Reducing emissions from cattle metabolism • According to studies, it is possible to reduce methane emissions from cattle metabolism through various feeding and feed solutions, grazing planning, breeding and development of animal genetic resources. Together with its cooperation network, Atria has lau nched the preparation of a research project aimed at verifying the effectiveness of the feed solution presented in international studies to reduce metabolic emissions in Finnish conditions. • If the feed solution under research succeeds in demonstrating a reduction in methane emissions also in Finnish conditions, the economic impact of the actual measure will be neutral. Replacement of annual crops of peat fields with perennials • According to the national greenhouse gas inventory, transferring peatland from annual to perennial crops reduces emissions by 10 tCO 2e/ha. • Based on Atria's soil and land-use study (authored by Luke), it is estimated that replacing annual crops with perennials would be feasible on 5,000 hectares of peatland in the Atria chain by 2030. Measures under the transition plan, Scope 3 65SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Additional emission reduction measures Atria Finland's primary production chain has identified and estimated the total emission reduction potential of the following measures, which totals approximately 630,700 tCO 2e per year. The most significant potential for further emission reductions is in the exchange of annual crops for perennials on peatlands, in the processing of manure in biogas plants and in improving the efficiency of fodder plant cultivation. In addition, emission reductions can be achieved, for example, by further reducing the use of feed soy, by extensive use of carbon farming methods and by restoring and rewetting peatlands. The attached diagram shows the relationship between the different measures. Actions require farm-level investments and/or operational development, and partly also additional scientific research to confirm and verify emission reductions using farm calculators. • Replacement of annual crops of peat fields with perennials . Theoretical potential based on the soil and land-use survey: 180,000 tCO2e. • Methane emissions from manure storage. Methane is formed during the storage of manure, especially slurry. Methane emissions can be reduced by about 90 per cent if the manure is processed as fresh as possible in the biogas plant. • Soy-free chicken and pork production . Replacing soy completely with other protein sources in animal feed can reduce the carbon footprint of chicken by 10 per cent and the carbon footprint of pork by 5 per cent. • Restoration and rewetting of peat fields . The assessment of the emission reduction potential is based on recent research publications and seminar materials with the help of a comparative 500-hectare example. • Improving the efficiency of fodder plant cultivation by, among other things, raising yield levels, increasing carbon farming measures, improving the efficiency of nutrient use and the use of organic fertilisers. However, cultivation engineering measures will take time to become more common, so more significant impacts are not expected until after 2030. Potential of identified additional emission reduction measures 66SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ENERGY CONSUMPTION AND ENERGY MIX Atria Group, MWh 2025 2024 Fuels Oil 17,899 26,044 Fossil gases 16,489 14,325 Biofuels 50,294 53,659 Purchases energy, electricity, heat, steam Fossil sources 120,961 125,725 Nuclear power 174,746 183,000 Renewables, including biomass 87,641 76,377 Atria Group, MWh 2025 2024 Total energy consumption Total fossil energy consumption 155,349 169,094 Total consumption of nuclear energy 174,746 183,000 Total renewable energy consumption 137,935 130,037 Total energy consumption 468,030 482,130 Percentage of energy sources (%) Share of fossil energy sources in total energy consumption 33% 35% Share of total energy consumption accounted for by nuclear power sources 37% 38% Share of renewable energy sources in total energy consumption 30% 27% Energy efficiency Energy intensity based on net sales* (MWh / EUR million) 258 275 Energy intensity based on production volume (MWh/t) 0.66 0.72 ENERGY CONSUMPTION BY BUSINESS AREA Atria Finland Atria Sweden Atria Denmark Atria Estonia Atria Group total Total energy consumption, MWh 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Total fossil energy consumption 120,443 132,293 7,703 9,930 12,867 12,929 14,335 14,941 155,349 159,094 Total consumption of nuclear energy 146,000 146,000 28,746 37,000 - - - 0 174,746 183,000 Total renewable energy consumption 70,899 71,399 58,012 46,216 - - 9,025 12,422 137,935 130,037 Total energy consumption 337,342 349,692 94,461 93,146 12,867 11,929 23,360 27,362 468,030 482,130 * Net sales, Note 2 to the financial statements 67SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GREENHOUSE GAS EMISSIONS IN THE ATRIA GROUP Retrospective Milestones and target years t CO2e 2020* 2024** 2025 Change from base year (%) 2025 2030 Annual % target / base year Scope 1 Direct greenhouse gas emissions (Scope 1) 10,283 9,630 9,892** -3.8% Percentage of Scope 1 GHG emissions covered by regulated emission trading systems (%) 0 0 0 Scope 2 Location-based indirect GHG emissions (Scope 2) - 52,053 48,585 Market-based indirect GHG emissions (Scope 2) 73,299 58,006 49,888 -31.9% Total Scope 1 and 2 market-based greenhouse gas emissions 83,582 67,636 59,779 -28.5% 66,030 48,478 -4.2% Significant GHG emissions from the value chain (Scope 3) Indirect (Scope 3) total gross GHG emissions *** 2,346 810 2,038,797 2,027,500 1 Purchased goods and services Meat raw material 1,878,868 1,841,672 1,763,990 -2.0% Other edible raw materials 73,076 72,532 74,973 Packaging materials 35,751 34,234 37,583 Purchased services - - 29,515** Raw materials for feed production sold outside the chain - - 61,924** 2 Capital goods - - 13,820** 3 Fuel and energy-related activities (not included in Scope 1 or Scope 2 emissions) - 9,809 8,778 4 Upstream transportation and distribution - 5,256 7,651 15 Investments (shareholding and joint ventures) - 30,462 29,267 Estimated Scope 3 emissions for categories 2–15*** 359,115 44,832 ** Total location-based GHG emissions 2,100,479 2,085,978 Total market-based GHG emissions*** 2,430,392 2,106,433 2,087,280 Greenhouse gas emissions per tonne of processed meat (tCO 2e/t) 7.6 7.7 7.2 - 5% 6.0 -2% *Figures for base year 2020 are not certified by the sustainability reporting verifier. ** More information on changes on the emissions included in and disaggregated within the emissions inventory can be found in the section “Accounting policies for indicators”. ***The other Scope 3 categories for the base year 2020 are reported together as they are a top- level estimate of the emissions mapping phase. The estimate includes services from category 1 and categories 2 –15. Broken down, they are not comparable with the corresponding categories reported for 2024 onwards and based on a more detailed calculation. The change in Scope 3 emissions and total GHG emissions between base year 2020 and reporting year 2025 does not reflect a real GHG emission reduction. 68SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GREENHOUSE GAS EMISSIONS IN THE ATRIA GROUP GHG intensity in relation to *net sales tCO2e / EUR million 2025 2024 GHG intensity based on net sales, Scope 1, 2 and 3 (location -based) 1,150 1,197 GHG Intensity based on net sales, Scope 1, 2 and 3 (market -based) 1,151 1,200 Biogenic CO2 emissions t CO2 2025 2024 Biogenic CO2 emissions 35,706 37,860 GREENHOUSE GAS EMISSIONS BY BUSINESS AREA Atria Finland Atria Sweden Atria Denmark Atria Estonia Atria Group total tCO2e 2025 2024* 2025 2024* 2025 2024 2025 2024 2025 2024 Direct greenhouse gas emissions (Scope 1) 4,598 5,052 1,942 2,434 1,203 1,062 2,149 1,182 9,892 9,630 Location-based indirect GHG emissions (Scope 2) 41,720 47,923 373 617 522 752 5,971 2,760 48,585 52,053 Market-based indirect GHG emissions (Scope 2) 40,591 46,589 41 18 2,896 4,157 6,360 7,242 49,888 58,006 Total GHG emissions of the value chain (Scope 3) 1,498,522 1,480,155 374,399 401,295 58,408 56,923 96,171 100,425 2,027,500 2,038,797 Total location-based greenhouse gas emissions 1,544,840 1,533,130 376,713 404,346 60,133 58,636 104,291 104,367 2,085,977 2,100,479 Total market-based greenhouse gas emissions 1,543,710 1,531,796 376,382 403,746 62,507 62,041 104,681 108,849 2,087,280 2,106,433 Biogenic CO2 emissions 14,158 15,121 18,125 17,924 - - 3,423 4,815 35,706 37,860 * net sales, Note 2 to the financial statements 69SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ACCOUNTING POLICIES FOR INDICATORS Energy consumption Energy consumption data, as well as basic and volume data on products and raw materials, are collected from the companies' accounts. If necessary, the information has been supplemented with detailed information collected from actors in the supply chain. Energy consumption includes Atria Group's production facilities and premises. Energy consumption is expressed as the end use of energy, in which case the efficiency factors of electricity and heat are not taken into account. In the end use of energy, the f uel consumed in the factories, self -generated solar power and the amount of purchased electricity and purchased heat are added together, and the sold heat is deducted from this in megawatt hours (MWh). New production facilities are considered in the calculation from the moment they start production. Statistics Finland's coefficients are used to calculate the energy contained in different fuels. Untraceable electrical energy is reported to fossil energy sources in accordance with the prudence principle. The energy intensity based on the production volume takes into account the total energy consumption and outflows of materials that have been subjected to energy consumption. The production volume corresponds to the combined rows “Food products”, “By -products of food production” and “Feed” in the indicator E5 Resource use and circular economy, Material flows out. Greenhouse gas emissions Greenhouse gas emissions include emissions from all Atria's production plants and properties included in financial reporting. Greenhouse gas emissions are calculated in accordance with the GHG Protocol (GHG Protocol Corporate Accounting and Reporting Stand ard and Corporate Value Chain (Scope 3) Accounting and Reporting Standard). The scope of the reporting is based on operational control and an emission remapping carried out in 2025 with data from 2024. In 2025, the reporting scope and business operations have not changed significantly compared to the base year. Reporting covers direct greenhouse gas emissions (Scope 1) from Atria's own operations, indirect greenhouse gas emissions (Scope 2) from the production of purchased energy, and significant indirect greenhouse gas emissions from elsewhere in the value chain (Scope 3) deemed material based on the survey. The calculation includes all greenhouse gases covered by the GHG protocol. Emissions are reported as carbon dioxide equivalents. In the emissions survey carried out in 2025, all Scope 1 and Scope 2 activities as well as the emissions of all fifteen Scope 3 categories were assessed with 2024 data. Based on the emissions survey, in total the Scope 3 categories included in the 2025 cal culation and reporting represent more than 95 per cent of the total Scope 3 emissions assessed with 2024 data. The figures for the base year 2020 have not been verified by the sustainability reporting assurance authority. Changes in relation to previously reported information From 2025 onwards, the Scope 1 inventory includes refrigerant emissions that had previously been excluded from the inventory due to their minor significance and limited data availability. The most significant differences compared to previously reported figures were in category 1, where emissions from feed sold outside Atria’s contract production (approximately 3 percent of total Scope 3 emissions) had not previously been included in the inventory. In addition, category 1 Purchased services and category 2 Capital goods were presented as separate line items for 2025. In 2024, these were reported under “Estimated emissions from other Scope 3 categories”. Following the emissions mapping conducted in 2024, the previously pre sented estimate of emissions from other Scope 3 categories has been incorporated into the specified categories, and this line item is therefore not reported in 2025. The calculation methodology is explained in more detail below. Organisational boundary The greenhouse gas emissions reported by Atria Finland in 2025 include food production operations at seven plants, located in Nurmo, Kauhajoki, Sahalahti, Jyväskylä, Forssa, Turku, Kauhava and Pietarsaari, as well as feed production in Koskenkorva and Vark aus. The greenhouse gas emissions reported by Atria Sweden in 2025 include food production operations at seven factories, located in Sköllersta, Tranås, Skene, Borås, Moheda, Norjeby and Järna. The greenhouse gas emissions reported by Atria Denmark in 2025 include food production operations in two factories, located in the Horsens and Hansted areas. The greenhouse gas emissions reported by Atria Estonia include Scope 1 and 2 emissions from the pr oduction of foodstuffs and by-products at the Valga plant, as well as from primary production operations. Changes in organisational boundaries in relation to the base year 70 per cent of Best-in Oy’s pet food business located in Kuopio was sold at the beginning of 2024, and the related emissions were excluded from Atria's Scope 1 and 2 reporting. The electricity consumption of the Kuopio factory property is still included in the inventory in 2025. The climate impacts of the Pietarsaari plant, acquired by Atria in December 2022, were fully reported for the first time in the 2024 data as part of Atria Finland's emissions. The total emissions related to the procurement were 2.1 per cent of the Group -wide Scope 1 and Scope 2 emissions in 2024 and thus did not exceed the threshold value of the recalculation policy. From the beginning of 2024, Atria Finland's emissions also include emissions related to the energy consumption of properties and leased premises owned by Atria Group outside the factory areas. The total emissions related to real estate were 1.7 per cent of the Group-wide Scope 1 and Scope 2 emissions in 2024 and thus did not exceed the threshold value of the recalculation policy. 70SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 The Malmö plant was sold in 2022, and production was discontinued in 2023. Atria acquired the entire share capital of the convenience food company Gooh in May 2024. Atria Gooh AB's factory is located in Järna, Sweden. The climate impacts of the Järna plant were reported for the first time in the 2024 data as part of the emissions under Atria Sweden’s GHG protocol. The first year's reporting data covered emissions from the time of takeover in September 2024 onwards. The total emissions related to the procurement accounted for 0.03 per cent of the Group-wide Scope 1 and Scope 2 emissions and thus did not exceed the threshold of the recalculation policy. As of 2024, the reporting of the Estonian business area also includes the emissions related to the energy consumption of Atria's primary production operations. The emissions added to the inventory accounted for 1.8 per cent of the Group -wide Scope 1 and Scope 2 emissions in 2024 and thus did not exceed the threshold of the recalculation policy. Scope 1 Activity details: • Consumption of oil, gas and renewable energy sources (bio -based fuels) converted into megawatt hours (MWh). • Refrigerants Emission factors and calculation: • The calculation is based on the emission factors of fuels and refrigerants recorded nationally: • CO2 emissions: Statistics Finland, Fuel Classification 2023 • CH4 and N2O emissions: Defra 2024, UK Government GHG Conversion Factors for Company Reporting Scope 2 Activity details: • Electricity and district heating: consumption data in megawatt hours (MWh) based on supplier measurements and billing. Emission factors: • District heating: Supplier-specific emission factors, which are mainly reported by heat suppliers based on the consumption of fuels used in energy production. • Market-based electricity: The market-based method uses producer-specific emission factors, complemented by national residual distribution electricity emission factors for untraceable purchased electricity. For each country of operation, the latest national Association of Issuing Bodies (AIB) emission factor available at the beginning of the reporting year is used for untraceable electricity. The emission factors for market -based reporting in 2025 represent the residual distribution in 2024. • Location-based electricity: The location-based method uses country-specific average emission factors for electricity consumed. Location -based emission factors are taken from the European Commission's Joint Research Centre (JRC) latest annual report: Nation al and European Electricity Emission Factors – NEEFE. Because the emission factor data is updated with a delay, the latest published national emission factors available at the beginning of the reporting year are used in the reporting. The emission factors of location-based reporting for 2025 represent the electricity production situation in 2023. Calculation: • Market-based indirect GHG emissions: The amount of guarantees of origin purchased is deducted from the total consumption for the reporting year. The amount of remaining untraceable electricity (MWh) is multiplied by the emission factor of the market residual distribution (AIB) (tCO2e/MWh). • Location-based indirect GHG emissions: The total consumption per country for the reporting year (MWh) is multiplied by the NEEFE emission factor (tCO 2e/MWh). Biogenic CO2 emissions Biogenic CO2 emissions are generated from bio -based fuels. Their calculation includes the Scope 1 and 2 bio-based fuels used in energy production. The emission factors of Statistics Finland's fuel classification have been used for the calculation. Excluded Scope 1 and 2 activities The emissions of vehicles owned and managed by Atria were reassessed in 2024 by collecting fuel consumption data from all business areas. The emissions represented less than 0.8 per cent of the combined Scope 1 and Scope 2 emissions, which is why the emission source was excluded from the emission inventory report for the time being due to the low share and difficult access to data. In relation to the base year and the situation reassessed in 2025, no significant changes were observed in the number of company cars in the reporting year that would have altered the situation and created the need to re-evaluate the base year for Scope 1 emissions and the reporting scope for Scope 1 emissions. The Polish operations of the Sibylla concept have been excluded from the inventory, because they do not manufacture products, but are a sales and marketing organisation with fewer than 50 employees. Compared to the base year, no significant changes were id entified in these activities in the reporting year that would have caused the need to reassess Scope 1 and 2 emissions. 71SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Scope 3 categories included in the report Scope 3 emissions were mapped in 2025 using data from 2024. The mapping was used to identify significant Scope 3 categories for emission reporting and SBTi targeting. According to the emissions survey, the Scope 3 categories included in the calculation and reporting represent a total of more than 95 per cent of the total Scope 3 emissions estimated with 2024 d ata. Compared to the base year, no significant changes were identified in Atria's own businesses and value chain operations in the reporting year that would have caused the need to reassess emissions related to Scope 3 categories. Scope 3 emissions are calculat ed in tonnes of CO2 equivalent, excluding biogenic CO2. Category 1 Purchased goods and services 1.1 Meat raw materials, Finnish primary production The beef, pork and chicken meat produced on Atria's contract producer farms in Finland are the most significant source of Scope 3 emissions. During the reporting year, the calculation covers the total number of slaughters purchased from Atria's contract producer farms, converted into carcass weight (tCW) to be paid by animal species. The calculation of chickens' emissions is based on a life cycle assessment (LCA) at the farm level (Tier 3) and on the weighted average data produced by the farm -specific EnvitecVision environmental calculator built by Atria for its producers. The average carbon footprint of the chicken in the Atria Finland chain is 2.35 kg CO 2e/kg of carcass weight (CW). The latest farm -level calculation data is from 2024. Atria's own carbon footprint data covers 70 per cent of the chicken purchased by Atria in 2025. The sample is comprehensive to represent Atria's contract production emissions in their entirety. The calculation of pork emissions is based on national research data and a Tier 3 life cycle assessment (LCA). The average carbon footprint of conventional pork in Finland's primary production is 3.5 kgCO2e/kg (CW). The emission factor is based on a comprehensive study of Finnish pork production by the Natural Resources Institute Finland. The average carbon footprint of Atria Finland's farm-traceable pork is 2.92 kgCO ₂e/kg of carcass weight (CW). The calculation of this emission factor is based on a life cycle assessment (LCA) at the farm level (Tier 3) carried out with 2024 data in 2025 an d on the weighted average data produced by the farm -specific EnvitecVision environmental calculator built by Atria for its producers. The sample covers 95 per cent of farm-traceable pork production. The sample of carbon footprint data from Atria's own production chain is not yet comprehensive enough to represent the emissions of contract production as a whole. The calculation of emissions from beef is based on the Natural Resources Institute Finland's research data on Finnish beef production. According to the study, the emission factor for beef produced in connection with milk production in Finland is 19.5 kgCO ₂e/kg CW and for meat from specialised beef production is 33.6 kgCO₂e/kg CW. The emission factor of the Natural Resources Institute Finland's database is used for turkey meat, which is not based on Finnish primary production. 1.2 Meat, other edible raw materials and packaging materials procured from outside Finnish contract production The calculation data is based on the purchase volumes (kg) of meat, other edible raw materials and packaging materials purchased in 2025 from all business areas. In the case of edible raw materials, any collected origin data also has an impact on the emission factors. The subcategory is categorized into planning groups for beef, pork, broiler and turkey meat. Other edible raw materials are categorized into a total of 43 planning groups, such as milk and milk powders, egg products, flour, oils, fats, mixtures. Packaging material types have also been divided into their own planning groups. The emission factor for meat raw materials is the emission factor describing the pan -European meat production method by comparing the data from different databases. For other raw materials and packaging materials, the emission factors were examined by plan ning group. The emission factors that best represent the largest items in terms of purchasing volume have been selected from the databases. The design group emission factor has been formed by calculating a weighted average of the purchase data of the planning group items from the 2024 sample. The databases used were RI.SE, The Big Climate Database 1.2, LUKE Emission Factor Database 2024, AgriFootprint and Ecoinvent 3.11. Primary supply chain information on the climate impacts of raw materials was not available from suppliers. The emissions in the subcategory have been calculated using secondary emission factors. 1.3 Raw materials for feed production Of the raw materials from A-Rehu’s production, the emissions from the raw materials of feed sold to farms outside Atria’s contract production have been included in the emissions inventory report. The emissions in the subcategory have been calculated using secondary emission factors. Activity data: • The data are based on the mass quantities of feed, industrial by -products and Finnish feed grains sold to third parties (except for Atria's contract production farms). Emission factors: • Finnish feed grains: National average emission factors per grain Hietala et al. (2022a). Environmental impact assessment of Finnish feed crop production with methodological comparison of PEF and IPCC methods for climate change impact. • Industrial feed ingredients: The GFLI database, Ecoinvent 3.11, primary emission factors available for some individual feeds. 72SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 • Industrial by-products: barley protein feed is based on Hietala et al. (2022b) Environmental competitiveness of pork and chicken (in Finnish), other GFLI database. 1.4 Various indirect purchases and services used by the company The calculation data is based on the information in the 2025 income statement. The income statement includes other operating expenses as well as costs related to marketing and administration by country of operation. The euro-based emission factor of operat ions that best represents the cost category represented by the income statement line information was selected from the Exiobase database. The emissions in the subcategory have been calculated using secondary emission factors. Category 2 Capital goods Emissions from capital goods have been calculated based on the investment costs related to newly built facilities and equipment by business country. The emission factor has been selected from the Exiobase database based on the economic emission model that best represents the operations. The emissions in the subcategory have been calculated using secondary emission factors. Category 3 Fuels and energy-related activities (not included in Scope 1 and 2) The category includes purchased electricity, district heating and heat transmission and distribution losses. Energy consumption data is collected in connection with Scope 1 and 2 calculations in megawatt hours (MWh). Emission factor for life -cycle emissions of fuels and loss of transmission and distribution of purchased electricity, district heating and heat: DEFRA 2024, UK Government GHG Conversion Factors for Company Reporting. Category 4 Upstream transport and distribution Information on the operations of Atria Finland, Sweden and Denmark as reported by logistics partners: • capacity data of the vehicles in which the transport has taken place • consumption data of the vehicles in which the transport has taken place • information about quantities transported by Atria's domestic food transport • information about the kilometres travelled by Atria's domestic food transport • container transports In the emissions mapping conducted using 2024 data, emissions reported by logistics partners (primary data) accounted for an estimated 26 per cent of total category 4 emissions. Emissions from incoming material flows not covered by partners’ reports were estimated based on the quantities reported under ESRS E5-4. In addition, emissions from the logistics of purchased end products in Estonia were estimated based on ESRS E5 outbound material flows. Due to poor data quality and availability, the estimated emissions attributable to this category were excluded from the inventory report. When adjusting the emissions data collected from partners in line with changes in the company’s revenue, the share of primary data and reported emissions in 2025 is estimated to represent approximately 40 per cent of total category 4 emissions. Category 15 Investments (associates and joint ventures) Atria has a total of eight associate or joint ventures: Länsikalkkuna Oy (50%), Honkajoki Oy (50%), Foodwest Oy (25%), Transbox Oy (26%), Tuoretie Oy (33%), Best -in Oy (30%), Findest Oy (33%) and Finnpig Oy (49%). The Scope 1 and 2 emissions of Atria's joint ventures Länsikalkkuna Oy and Honkajoki Oy, the emissions of which are estimated as the highest, have been included in the inventory report since 2024. In 2025, emissions data were also mapped for companies with smaller holdings, and the 2025 inventory report included the Scope 1 and 2 emissions of Foodwest Oy, Best -in Oy and Finnpig Oy proportionately to the holding of each company. Tuoretie Oy's emissions and part of Transbox Oy's emissions are included in category 4 reporting. Transbox Oy's operations do not themselves generate significant amounts of Scope 1 and 2 emissions, because energy consumption occurs in the operations of the company's customers. Findest Oy's emissions have been included in Honkajoki Oy's emissions data. Joint ventures and associates are responsible for their calculated and reported emissions. The emissions reports have not been verified by a third party. Excluded Scope 3 categories The exclusion criteria were based on the GHG Protocol Scope 3 standard. In line with the criteria of the standard, it has been possible to exclude an individual category or activity from the inventory report if its emissions are expected to be small in rel ation to other emission sources, and for these activities, the collection of data and the impact on the reduction of greenhouse gases is limited. Category 1 Purchased goods and services • Raw materials for feed production Emissions from raw materials in own feed production have been included in the emission factors for meat raw materials. To avoid double counting, emissions from these material flows have been excluded from the inventory report. • Individual commodities used in food manufacturing that could not be quantified and/or comparable emission factor data for them could not be found in databases could be excluded from the inventory by means of an expert assessment procedure. In the procedure, the impact of 73SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 the exclusion on total emissions has been estimated to be very small. The same commodities have been excluded from the reporting of E5 material outflows. Category 5 Waste generated in operations • Waste at Atria's factories and offices The share of waste in Scope 3 emissions has been estimated based on waste reporting data for 2024. The category is not significant as at the time of calculation, it accounted for 0.02 per cent of the total estimated Scope 3 emissions. Category 6 Business traveling • Flights • Leasing cars, travel reimbursements and train travel • Hotel stays The share of emissions from business travel has been estimated based on the 2024 reporting of financial consumption data and Exiobase emission factors. The category is not significant, as at the time of calculation, it accounted for 0.04 percent of the estimated total Scope 3 emissions . Category 7 Employee commuting • Employee commuting (car and public transport) In the assessment of emissions from commuting, employees were assumed to work onsite. The number of commuting days was estimated based on the number of employees and employment data of the entire Group in 2024. The average commute and the use of different vehicle types were assumed based on a Finnish study (Traficom 2023). The category was excluded from the 2025 inventory report because it is not significant in terms of emissions. Commuting accounted for 0.2 percent of the total Scope 3 emissions estimated in the emissions inventory report. Category 8 Upstream leased assets • Emissions related to the energy consumption of leased assets are reported in Scope 1 and Scope 2. Category 9 Downstream transport and distribution • Supplier-managed transportation of raw materials and packaging materials. • Customer-managed transports from the freight terminal onwards. The emissions of transports in downstream value chain were estimated based on the reported material outflows (ESRS E5-5) in 2024. The average transport distance and method, as well as the energy consumption of cold storage, were estimated for the products. The category was excluded from the 2025 inventory report because it is not s ignificant in terms of emissions. Transport accounted for 0.4 per cent of the total Scope 3 emissions estimated in the emissions inventory. Category 10 Processing of products sold The emissions from the processing of sold products were estimated on the basis of the reported material outflows in 2024 (ESRS E5 -5) and the average default values for further processing (PEF Guidance, 2022). The estimates concerned food product flows sold to industrial customers and food service customers. Other food products flows we re excluded as they were not expected to require further processing prior to their use. In addition, food production generates side streams in Finland, Sweden and Estonia. In Estonia, the processing of side streams is included in Atria's own operations, which means that emissions from further processing are already included in Scope 1 and Sco pe 2 emissions. In Finland, these side streams are processed by a joint venture whose emissions are included in category 15 reporting. The category was excluded from the 2025 inventory report due to the poor quality and limited availability of the calculation data, as well as the fact that it is not significant in terms of emissions volume. The further processing of goods sold accounted f or 0.1 per cent of the total Scope 3 emissions estimated in the emissions inventory. Category 11 Use of products sold The category is not significant because human metabolism is excluded from the estimation of emissions during the life cycle of food. Category 12 End-of-life treatment of sold products The emissions from the end-of-life handling of products sold were estimated on the basis of the reported material outflows in 2024 (ESRS E5 -5) and the GHG Protocol Scope 3 Standard assumptions related to the handling. The category was excluded from the 2025 inventory report due to the poor quality and limited availability of the calculation data, as well as the fact that it is not significant in terms of emissions volume. The category accounted for 0.1 per cent of the t otal Scope 3 emissions estimated in the emissions inventory. 74SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Category 13 Downstream leased assets Atria does not have any significant leased assets. Category 14 Franchising Atria does not have any franchising operations. 75SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ENVIRONMENTAL INFORMATION - ESRS E4 BIODIVERSITY AND ECOSYSTEMS With the update of the double materiality assessment criteria, E4 Biodiversity and ecosystems was identified as a material reportable standard. In particular, land use and land -use changes, as well as climate change, constitute essential biodiversity loss risk factors for Atria. The climate change impacts of the company's own operations and the entire value chain are reflected in biodiversity loss; therefore, many factors related to biodiversity and the state of ecosystems are managed by the same means as climate change mitigation. In addition to the standard heading term, the report uses the synonymous terms nature’s diversity and biodiversity, which refer to the species, intraspecific and ecosystem diversity overall. The most significant environmental impacts of food production occur in the primary production of raw materials. Sustainable farming and production practices take into account impacts on biodiversity and ecosystems by minimising negative impacts and promoti ng positive impacts. The impacts of food production on biodiversity and ecosystems are shown in the following diagram. Good practices that address these impact factors and are implemented in Atria’s supply chain are described in section Actions and resources related to biodiversity and ecosystem. 76SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 CONSIDERING BIODIVERSITY AND ECOSYSTEMS IN THE STRATEGY AND BUSINESS MODEL In 2024, the company carried out the first double materiality assessment, which assessed, among other things, the impacts and risks related to biodiversity as part of strategic planning. Based on the assessment, it was found that Atria's sites are not loca ted in biologically sensitive areas, and there are no habitats of conservation significance in their vicinity. This means that the company's current production structure does not pose a direct threat to important natural sites. Atria's sites are specified in section E1 Climate change, Accounting policies for indicators under Organisational boundary. Environmental impacts are mitigated by measures specified in the environmental permits of the facilities. From a strategic point of view, Atria focuses especially on indirect impacts in terms of biodiversity: the most significant factors affecting nature come indirectly through Atria's value chain, especially climate change and land use. Atria is committed to respecting nature’s carrying capacity and preventing biodiversity loss, which is recorded among the company’s main environmental policy objectives. The company has not prepared a separate resilience analysis or a transition plan for managing impacts on nature, as these have been included as part of a broader sustainable programme. The TNFD framework (Taskforce on Nature -related Financial Disclosures) and the ENCORE tool (Exploring Natural Capital Opportunities, Risks and Exposure) have been used to assess Atria’s operations and upstream value-chain risks and dependencies. Based on the results, the usual nature risks do not threaten Atria's business. So far, the company has not identified any significant or likely transition or systemic risks. The company's production processes are organised so that the most important ecosystem services, such as clean water supply and soil quality, can be secured. Atria works mainly in areas where there is no water stress. In units that are significant in terms of water resources, the company has long-term cooperation models in place to promote fair water use locally and secure the availability of clean water for Atria. Atria's feed production as part of integrated food production has been identified as a keyway to reduce primary production emissions and environmental impacts. The development of feeds and the optimisation of feeding are guided by data based on life -cycle assessment- and by developing the controllability of the value chain. Atria monitors and prepares for EU nature -related regulation (such as the EU Biodiversity Strategy 2030 and the Nature Restoration Regulation) as part of its strategy process. The company has already adapted its procurement practices to the requirements of the EU Deforestation Regulation (EUDR): Atria does not accept raw materials that cause deforestation in its supply chain and ensures compliance through due diligence obligation processes. The preliminary risk assessment shows that there is no significant threat of deforestation in Atria’s feed or food raw materials – for example, Atria acquires beef from within the EU and has required certifications for other high -risk raw materials for years. By managing both the feed business and the sourcing of raw materials for food production, Atria creates a controlled and proactive system. This approach reduces Atria's dependence on raw material markets that carry high nature risks. It also helps the busi ness adapt to nature-related risks and keeps the strategy aligned with the goals of EU policy and the Kunming –Montreal objectives. Measures related to biodiversity are reported to the company’s Board of Directors and senior management as part of the monitoring of the sustainability programme and the annual management review. PRINCIPLES RELATED TO BIODIVERSITY AND ECOSYSTEMS Atria's public environmental policy defines the main biodiversity objectives, such as preventing biodiversity loss and promoting the sustainable use of natural resources. The environmental policy has been approved by the company’s CEO and guides all business areas. In the policy, Atria recognises its responsibility for the environment and undertakes to respect nature and protect it from harmful effects. In practice, this means that each produ ction unit must comply with the environmental permit conditions and best available techniques (BAT) in order to minimise the negative impact of the activities on the environment. The implementation of the environment al policy is monitored through internal and external auditing processes in the business areas. Environmental management steering groups regularly review the policy and, if necessary, update its content to meet new legal or stakeholder requirements. Atria has guidelines in place related to sustainable sourcing that support the preservation of biodiversity in the value chain. The Supplier Code of Conduct targeted at Atria's business partners requires all suppliers to comply with environmental legislation and responsible practices. From the perspective of environmental impacts (climate change, land use change ), compliance of critical imported raw materials is managed through procurement terms. For example, for soy and palm oil, sustainability certifications are required, and with the deforestation regulation, traceability is also required, so that the cultivati on does not destroy rainforests. Deforestation risk is monitored using a risk -based approach, applying the EUDR. Atria's principles regarding animal procurement and the value chain also support biodiversity, as contract producers are committed to good agri cultural practices. The implementation of Atria's environment al policy is largely based on legal obligations. All Atria's production facilities have valid environmental permits, which consider key environmental impacts (water consumption, wastewater, waste, emissions) and set the necessary limits and monitoring obligations. Compliance with these permit conditions is regularly monitored by the authorities. The main idea of the environmental policy is to meet at least all the requirements of the law and to apply proactive environmental management in accordance with the ISO 14001 standard. Since the current environmental permits do not require separate biodiversity conservation measures, it ha s been considered that the direct environmental impacts of Atria’s operations are already, as a rule, under control within the framework of the permit practices. Atria does not have such activities or procurement on special terms from ecosystems that are m anaged to maintain or improve the conditions for 77SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 biodiversity. In its policies and principles Atria has not considered the social dimension of the impacts related to biodiversity and ecosystems. ACTIONS AND RESOURCES RELATED TO BIODIVERSITY AND ECOSYSTEMS Industrial operations The key starting point for Atria's operations is to comply strictly with the provisions of environmental permits in each production facility – this includes optimisation of water use, wastewater pretreatment and emissions management. For example, the water consumption and wastewater discharges of Atria's factories are constantly monitored, and they are subject to strict limits that protect local water systems from eutrophication and pollution. Environmental responsibility experts, environmental and energy managers and other responsible persons ensure the implementation of the necessary measures and the availability of resources, such as technologies, personnel and investments, to reduce the environmental burden and continuously improve performance. Value chain Atria has taken concrete measures to prevent the adverse impacts of its operations on nature and to promote biodiversity in its value chain. The company has its own responsibility team with expertise in nature impacts. In addition, Atria cooperates with re search institutes and organisations and utilises the information they produce about environmental impacts. The goal of networking is to ensure the effective use of up-to-date information and best available practices in the development of the value chain. Atria's opportunities for influence also extend to upstream value chain, i.e. to contract producers and raw material suppliers. At the beginning of the value chain, Atria influences the environmental impacts caused by animal feeding by investing in the dev elopment of its own feed business and feeds, as well as in the optimisation of feeding. The biodiversity in primary production survey, conducted in 2023 and updated in 2025, has mapped the environmental impacts of Finnish agriculture and identified recommended measures in the primary production value chain. Based on this study, Atria has prepared an action plan to support biodiversity, in which optimising animal feeding and reducing soy use through improving feed development and enhancing the manageability of primary production are central to the development of its own operations. Improving the controllability of the value chain means that Atria develops operating methods that help to better predict feed demand, secure the availability of feed raw materials — for example, by entering into cultivation agreements with crop farmers — and utilise information system integrations, which enables more efficient information flow and production planning throughout the entire value chain. Atria Finland is the only Group business area to utilise its own feed production (A -Rehu), which provides full control over feed raw materials and feeding solutions. Own feed production enables a direct and scalable influence on the environmental footprint of animal feed, such as reducing the use of soy and developing domestic protein alterna tives throughout the chain. In the reporting year, Atria reduced the share of soy in pig feed in its own supply chain by 36 per cent compared with the base year 2020; for chickens the share increased by 4 per cent due to the low protein content of grains and the poor availability of domestic peas. Soy is not used in cattle feeding at all. In addition, Atria encourages its contract production facilities to take measures such as: • Grazing: Sustainable grazing practices on livestock farms help to maintain traditional habitats (such as coastal meadows and wooded meadows) that are important for endangered species. Atria's primary production contributes to maintaining the habitats of these spec ies – according to studies, many endangered birds and insects benefit from grazing, which prevents meadows from becoming overgrown. • Sustainable farming methods : In Atria's development projects, farmers have been trained, for example, to diversify crop rotations, to increase organic matter in the soil, to use nutrients in a balanced way and to support the diversity of the soil micro organisms. At their best, new behaviours improve the diversity of soil microorganisms, reduce nutrient leaching and benefit both the farmer and the environment. • Responsible use of chemicals: In contract production, Atria promotes the minimisation of chemical impacts on nature by developing the responsible use of antibiotics and versatile plant protection methods. In plant cultivation, emphasis is placed on minimising chemical control and on preventive measures, such as crop rotation, selection of plant varieties and soil management. In this way, the spread of animal diseases and the natural effects of chemicals are kept to a minimum. Atria's supply chain management is also an important part of biodiversity activities. Atria's procurement practices have been adapted to the due diligence obligations of the EU Deforestation Regulation. In the company's due diligence process, environmental risks in the supply chain are regularly assessed. In high-risk raw materials such as beef and soy, Atria requires batch -specific traceability and, where necessary, certifications to ensure that deforestation or human rights violations are not associated w ith the production of these commodities. Due diligence measures are included in Atria's procurement practices, involving and extensively guiding the entire organization. OBJECTIVES RELATED TO BIODIVERSITY AND ECOSYSTEMS At Atria, the objectives related to biodiversity have been recorded in the company’s general environmental objectives. Separate numerical biodiversity indicators have not been published as part of the Group’s strategic indicators. In setting the objectives , both national and the EU’s nature -related regulations have been taken into account, although the relationship of the set objectives to the ecological thresholds has not been determined. Atria’s environment al policy, updated in 2024, lists “prevention of biodiversity loss” as one of its key objectives. This objective becomes concrete, for example, through Atria's own operations not weakening biodiversity: the company strives to ensure that its processes do not cause the destruction of species' habitats or the degradation of ecosystem 78SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 services. In practice, this objective means zero tolerance for unauthorised discharges or soil pollution, for example. The meeting of the objective is monitored by compliance with the permit conditions. Atria's climate targets (science-based emission reduction targets Scope 1, 2 and 3) also support the promotion of biodiversity, as climate change is one of the biggest drivers of biodiversity loss. Atria has set a target of reducing its own greenhouse gas emissions by 42 per cent by 2030 (from the level of 2020) and the emission intensity of the value chain by 20 per cent per tonne of meat produced. The objective of developing feed solutions is to optimise feeding from the point of view of animal welfare, productivity and the reduction of environmental impacts. Atria aims to increase protein self -sufficiency by using more domestic protein sources, such as peas, broad beans and barley protein, as raw materials for feed. This will reduce dependence on imported soy and at the same time reduce the natural risks associated with land use change, as well as promote diverse crop ro tations in Finland. According to the EUDR, among other things, soy has been classified as a commodity considered at risk of causing deforestation. For the use of soy, the company has set objectives that support the climate transition: • Reducing the use of soy in Atria Finland's contract production : 30 per cent of the 2020 level in feed for chickens and 50 per cent in feed for pigs by 2030. In addition, the company has set qualitative objectives for biodiversity: • No deforestation: Atria is committed to ensuring that the company’s supply chain does not cause deforestation in accordance with the EUDR definition. • Securing ecosystem services: Atria requires that its own operations do not endanger essential ecosystem services such as pollination, access to clean water or soil fertility. In cooperation with contract producers, Atria has set a goal to increase the use of practices that promote bi odiversity and safeguard ecosystem services. For example, with Atria’s Antibiotic -Free programme, the company aims for healthier animals and a lower environmental medication load. Primary production development projects aim to improve the carbon sequestrat ion of fields and the quality of cultivated land, which supports soil biodiversity. Although there is no numerical target for these activities, the quality objective is continuous improvement. IMPACT METRICS RELATED TO BIODIVERSITY AND ECOSYSTEMS CHANGE Biodiversity indicators are reflected as part of broader environmental indicators. The following are key indicators describing Atria's natural impacts and dependencies: • Location of production facilities in relation to the sensitive natural environment: Of Atria's industrial sites, only one is located in the vicinity of a biodiversity -sensitive or protected area. The result indicates that Atria is not under direct pressure of degradation of ecosystems because of its locations. Atria’s factories operate in areas zoned for industry, away from the most valuable natural sites and their immediate vicinity. • Observed environmental harms or deviations: During the review period, no significant environmental damage was reported in Atria’s own operations. Significant environmental damage means a deviation that could cause long -term environmental harm and that Atria would also be obliged to report on to the supervisory authority. • Indicators derived from environmental permits: For each of Atria’s production facilities, a set of indicators has been established in environmental permits that also affect biodiversity and ecosystems. These include water consumption (m³), the chemical load of wastewater (BOD, TN, TP mg/l), energy consumption (MWh) and the amount of waste (t onnes). During the review period, one of Atria's units reported repeated deviations from the limit values defined by the environmental permits of the facilities. The measures for recurring excessive particulate emissions have been defined together with the unit’s supervisory authority and will be implemented in 2026. More generally, compliance with the environmental limit values in all other 29 production units indicates that the company's operations remain within the limits of the resilience of ecosystems locally. ACCOUNTING POLICIES FOR INDICATORS The location of production facilities in relation to sensitive natural environment areas has been noted in their environmental permits. The persons responsible for the facilities’ environmental management report annually on possible environmental damage or repeated deviations from environmental permit obligations as part of the environmental management review and the company’s compliance reporting. ATRIA PLC Financial statements and the Report by the Board of Directors 2025 services. In practice, this objective means zero tolerance for unauthorised discharges or soil pollution, for example. The meeting of the objective is monitored by compliance with the permit conditions. Atria's climate targets (science-based emission reduction targets Scope 1, 2 and 3) also support the promotion of biodiversity, as climate change is one of the biggest drivers of biodiversity loss. Atria has set a target of reducing its own greenhouse gas emissions by 42 per cent by 2030 (from the level of 2020) and the emission intensity of the value chain by 20 per cent per tonne of meat produced. The objective of developing feed solutions is to optimise feeding from the point of view of animal welfare, productivity and the reduction of environmental impacts. Atria aims to increase protein self -sufficiency by using more domestic protein sources, such as peas, broad beans and barley protein, as raw materials for feed. This will reduce dependence on imported soy and at the same time reduce the natural risks associated with land use change, as well as promote diverse crop ro tations in Finland. According to the EUDR, among other things, soy has been classified as a commodity considered at risk of causing deforestation. For the use of soy, the company has set objectives that support the climate transition: • Reducing the use of soy in Atria Finland's contract production : 30 per cent of the 2020 level in feed for chickens and 50 per cent in feed for pigs by 2030. In addition, the company has set qualitative objectives for biodiversity: • No deforestation: Atria is committed to ensuring that the company’s supply chain does not cause deforestation in accordance with the EUDR definition. • Securing ecosystem services: Atria requires that its own operations do not endanger essential ecosystem services such as pollination, access to clean water or soil fertility. In cooperation with contract producers, Atria has set a goal to increase the use of practices that promote bi odiversity and safeguard ecosystem services. For example, with Atria’s Antibiotic -Free programme, the company aims for healthier animals and a lower environmental medication load. Primary production development projects aim to improve the carbon sequestrat ion of fields and the quality of cultivated land, which supports soil biodiversity. Although there is no numerical target for these activities, the quality objective is continuous improvement. IMPACT METRICS RELATED TO BIODIVERSITY AND ECOSYSTEMS CHANGE Biodiversity indicators are reflected as part of broader environmental indicators. The following are key indicators describing Atria's natural impacts and dependencies: • Location of production facilities in relation to the sensitive natural environment: Of Atria's industrial sites, only one is located in the vicinity of a biodiversity -sensitive or protected area. The result indicates that Atria is not under direct pressure of degradation of ecosystems because of its locations. Atria’s factories operate in areas zoned for industry, away from the most valuable natural sites and their immediate vicinity. • Observed environmental harms or deviations: During the review period, no significant environmental damage was reported in Atria’s own operations. Significant environmental damage means a deviation that could cause long -term environmental harm and that Atria would also be obliged to report on to the supervisory authority. • Indicators derived from environmental permits: For each of Atria’s production facilities, a set of indicators has been established in environmental permits that also affect biodiversity and ecosystems. These include water consumption (m³), the chemical load of wastewater (BOD, TN, TP mg/l), energy consumption (MWh) and the amount of waste (t onnes). During the review period, one of Atria's units reported repeated deviations from the limit values defined by the environmental permits of the facilities. The measures for recurring excessive particulate emissions have been defined together with the unit’s supervisory authority and will be implemented in 2026. More generally, compliance with the environmental limit values in all other 29 production units indicates that the company's operations remain within the limits of the resilience of ecosystems locally. ACCOUNTING POLICIES FOR INDICATORS The location of production facilities in relation to sensitive natural environment areas has been noted in their environmental permits. The persons responsible for the facilities’ environmental management report annually on possible environmental damage or repeated deviations from environmental permit obligations as part of the environmental management review and the company’s compliance reporting. 79SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ENVIRONMENTAL INFORMATION - ESRS E5 RESOURCE USE AND CIRCULAR ECONOMY POLICIES A sustainable way of producing food of animal origin in Nordic conditions ensures the availability and security of supply of nutritious and varied food locally. Atria manufactures and markets diverse and safe food products, ensuring that consumers have the opportunity to buy healthy and sustainably produced food. With the help of profitable business, Atria supports domestic primary production in the long term and reduces dependence on foreign food production chains, which improves the long -term security of supply in the domestic market. The process of identifying and evaluating impacts, risks and opportunities related to the use of resources and the circular economy is described in the general information section of the Sustainability Statement under Material impacts, risks and opportunities of sustainability. Atria is committed to the efficient utilisation of the inflow resources, such as raw materials, water and energy, as well as to the continuous improvement of its operations in the environmental policy approved by the Group CEO. The environmental policy app lies to all subsidiaries of the Atria Group. The policy is implemented by including related policies in the management system of companies within the scope and in the guidelines of operations, which also extend to the value chain. The maintenance of environmental management and performance, as well as the monitoring of these issues, are guided by certified quality, environmental management and energy management systems of production facilities. For more information on corporate governance, stakeholder engag ement and communication, see G1 Business conduct. Promoting the circular economy and the responsible sourcing of raw materials are a basic prerequisite for Atria's sustainable operations. The circular economy principles outlined in the environmental policy guide the management of materials inflows and out flows and packaging development at Atria: 1. Atria adheres to the waste hierarchy, which emphasises waste prevention, preparing for re - use, recycling, other recovery and disposal. This hierarchy guides Atria's decision -making in promoting the circular economy. 2. Atria prioritises measures that reduce waste generation or minimise its volume. This means, for example, optimising production processes and designing products while minimising waste. 3. Atria takes eco-design into account in the design and development of products, packaging and side streams so that environmental impacts are minimised throughout the life cycle. This includes the procurement, manufacture, use and disposal of raw materials. 4. Product and packaging development considers food safety and compliance with legislation, ease of use and recyclability, waste prevention, the circular economy principles and the choice of packaging materials. In the sustainable procurement of raw materials, Atria procurement policies are followed. Environmental aspects are taken into account in the procurement, both when selecting new suppliers and in connection with the regular supplier assessment. The food sa fety, quality and nutrition, and product sustainable policy, for their part, guides raw material choices. Atria assesses the life cycle of investments and related environmental aspects in accordance with the requirements set out in local legislation and investment policy. TARGETS Using raw materials and other resources as efficiently as possible, utilising side streams, and recycling valuable nutrients are important ways to reduce the climate and environmental impact of operations, while adding value to the whole value chain. Produ ction results in both food products and various side streams, and Atria’s own goal is to maximise the utilisation rate of the inflow resources used. Business planning is based on process-specific sales and acquisition targets. For example, in the cutting a nd processing of meat, the optimal use of the raw material is a significant economic factor. The objectives of the circular economy are thus closely linked to the achievement of financial objectives. Atria has not set quantitative group-level targets for the circular economy. The objective of packaging development is to prevent waste and food waste in accordance with the waste hierarchy. The EU Packaging and Packaging Waste Regulation (PPWR), adopted in December 2024, guides Atria's target-setting in the use of recycled packagi ng material. Product and packaging development in accordance with our policies minimises the environmental impacts of products during their life cycle. 80SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 MEASURES Measures to promote the use of resources essential to Atria and the effects of the circular economy are part of the continuous improvement of operations, which do not require significant operating expenses or capital expenditures. In all business areas of the Atria Group, management procedures have been established for wastage management according to the same principles, the implementation of which continued during the reporting period. Various types of process wastage have been identified, and indicators have been created to monitor them. Monitoring metrics are displayed at the departments, and day -to-day management reacts to deviations without delay. The slaughter, cutting and further processing processes of the new poultry factory introduced by Atria Finland in 2024 are highly automated and optimised. They enable the use of raw material to be more efficient, and the amount of waste has decreased. For example, a difference of one gram in cutting precision at a single stage of the process means, on an annual basis, a difference of hundreds of thousands of euros to the company's profit or loss. The process optim isation of the poultry factory has continued during the reporting year. Atria is committed to the material efficiency commitment of the Finnish food industry, which aims to reduce environmental impacts in food production, distribution and consumption. Atria joined this commitment in 2019, and Atria has defined tangible material efficiency measures that focus on developing material efficiency measures that focus on development of the material efficiency of production processes and product and packaging solutions. The commitment period exten ds until 2026. Atria’s aim is to improve its raw material utilisation and reduce material and food waste at all stages of the product’s life cycle. Atria reports on the measures and their progress to Motiva, which operates under the Finnish Ministry of Eco nomic Affairs and Employment. In addition, Atria is committed to promoting consumers’ awareness of ways to reduce food waste and has implemented consumer communications related to waste management in several communication channels during the reporting year. RESOURCE INFLOWS Material flows entering Atria's business are raw materials and packaging materials used in the manufacture of products. In addition, production processes consume water and require the acquisition and maintenance of tangible fixed assets such as machinery, equipment and buildings. The sustainable sourcing of raw materials follows Atria’s procurement policy is followed, taking into account the environmental aspects of procurement, food safety, human rights issues, as well as business -critical importance and continuity. The life cycle and related environmental aspects of capital goods are assessed in accordance with the requirements set out in local legislation and Atria's investment policy. 76 per cent of beef, pork and poultry comes from Atria's contract production farms. Meat and other animal raw materials purchased on the international market are also of European origin. Other raw materials for Atria's food production include vegetables, egg and milk products, mill products such as flour, grits and pasta, fats and oils, and spices. Packaging materials include plastic films and boxes, wood fibre-based and aluminium packaging, labels, and plastic, fibre and natural intestines. The use of packaging materials in the food industry is regulated by strict EU -level and national legislation aimed at food safety, which, among other things, limits the use of recycled material in food packaging (EU 1935/2004). Atria promotes the sustainable use of raw materials by sourcing raw materials from responsible sources and by working closely with contract producers and other raw material suppliers. The procurement principles are described in section G1 Business conduct. In its production, Atria uses commodities to which the obligations of the EU Deforestation Regulation (EUDR) appl y. Atria has been building technical capabilities to respond to the due diligence obligation and information needs of the Deforestation Regulation. In its feed business, Atria develops feed solutions that utilise the circular economy, which are based on Finnish protein sources and by -products of the food industry. Food industry by -products replace a significant amount of imported soy in animal feed, f or example. Side streams used in feed generate from the ethanol, starch, dairy, confectionery and potato industries, for example. Other raw materials for feed production are cereals, fats and minerals. RESOURCE OUTFLOWS The essential material outflows in Atria's business are food products, by -products of food production and feed. The generated material flows that cannot be processed into food products are used in pet food or as fur animal feed, or as protein and mineral p roducts in natural cycles in line with the principles of the circular economy. Atria also generates food production side streams classified as waste and non - hazardous recyclable or energy recovery process waste, as well as small amounts of hazardous waste. In the reporting year, outflows classified as waste accounted for a total of 4 per cent of all outflowing material. The indicators of materials’ utilisation rate reflect success in the circular economy’s primary goal: preventing waste generation. As regards the proportion of recycled packaging material, Atria does not apply Group -level monitoring as the related legal definitions are not laid down in the EU regulation concerning packaging and packaging waste. 81SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 MATERIAL INFLOWS Food production materials, tonnes 2025 2024 Beef 50,736 54,085 Poultry 97,920 92,274 Pork 95,220 93,262 Other raw materials 42,707 43,703 Packaging materials 13,165 11,849 Feed production materials, tonnes 2025 2024 Food industry side streams 224,999 221,050 Other raw materials 324,867 330,211 MATERIAL OUTFLOWS Food production, tonnes 2025 2024* Food products 265,309 260,729 Agency products and subcontracting 11,870 12,590 Food production by-products 86,417 89,069 Packaging materials 13,165 11,849 Feed production, tonnes 2025 2024 Feed 361,851 333,470 Other 284,337 279,453 * More information on changes to previously reported data can be found in the section “Accounting policies for indicators” WASTE 2025 2024 Total waste amount 38,043 40,104 Utilised material flows Non-hazardous waste i. Preparation for reuse; 0.2 0 ii. Recycling 24,583 25,135 iii. Other utilisation measures 13,240 14,650 Hazardous waste i. Preparation for reuse; 0 0 ii. Recycling 6 4 iii. Other utilisation measures 22 27 Waste sent for final disposal Non-hazardous waste i. Combustion 2 0.8 ii. Landfill disposal 160 248 iii. Other disposal 17 11 Hazardous waste i. Combustion 0.5 0.6 ii. Landfill disposal 0 0.6 iii. Other disposal 13 26 Total amount of non-recycled waste 13,455 14,964 Percentage of non-recycled waste 35.4% 37.3% MATERIAL UTILISATION RATE 2025 2024 Percentage of waste streams of all outflowing material 4% 4% Percentage of unused waste streams of the total waste volume 0.5% 0.8% ATRIA PLC Financial statements and the Report by the Board of Directors 2025 MATERIAL INFLOWS Food production materials, tonnes 2025 2024 Beef 50,736 54,085 Poultry 97,920 92,274 Pork 95,220 93,262 Other raw materials 42,707 43,703 Packaging materials 13,165 11,849 Feed production materials, tonnes 2025 2024 Food industry side streams 224,999 221,050 Other raw materials 324,867 330,211 MATERIAL OUTFLOWS Food production, tonnes 2025 2024* Food products 265,309 260,729 Agency products and subcontracting 11,870 12,590 Food production by-products 86,417 89,069 Packaging materials 13,165 11,849 Feed production, tonnes 2025 2024 Feed 361,851 333,470 Other 284,337 279,453 * More information on changes to previously reported data can be found in the section “Accounting policies for indicators” WASTE 2025 2024 Total waste amount 38,043 40,104 Utilised material flows Non-hazardous waste i. Preparation for reuse; 0.2 0 ii. Recycling 24,583 25,135 iii. Other utilisation measures 13,240 14,650 Hazardous waste i. Preparation for reuse; 0 0 ii. Recycling 6 4 iii. Other utilisation measures 22 27 Waste sent for final disposal Non-hazardous waste i. Combustion 2 0.8 ii. Landfill disposal 160 248 iii. Other disposal 17 11 Hazardous waste i. Combustion 0.5 0.6 ii. Landfill disposal 0 0.6 iii. Other disposal 13 26 Total amount of non-recycled waste 13,455 14,964 Percentage of non-recycled waste 35.4% 37.3% MATERIAL UTILISATION RATE 2025 2024 Percentage of waste streams of all outflowing material 4% 4% Percentage of unused waste streams of the total waste volume 0.5% 0.8% 82SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ACCOUNTING POLICIES FOR INDICATORS Incoming material flows are collected from the purchase data and inventory records of the companies' accounting. Indicators have not been validated by an external body other than the verification service provider. Essential material inflows include the raw materials and packaging materials used in Atria's products. Tangible fixed assets in production such as machinery and equipment, utilities such as water and gases or indirect materials such as disposable protectiv e equipment are not included in the reporting of material inflows. Indirect materials are included in the outflow of materials in the total waste reporting volume in kilograms. Material flows are measured in kilograms, but in the following cases it has bee n necessary to use applied measurement: When meat is sourced from contract producers, carcass kilograms are used as a measure of quantity. No specific weight has been available for all items in the packaging materials, and averaged conversion factors have been used for reporting these items. Individual items with an estimated share of less than 0.01 per cent of the total and whose specific weight data could not be reliably estimated in the reporting year have been excluded from reporting. Plastic, fibre and natural casings used in meat products have not been included in the reporting of material inflows. The purchase units of intestines are different from the units reported, and their tonnage estimation could not be reliably carried out dur ing the reporting year. In this respect, in order to improve the coverage of reporting, the aim is to collect data from suppliers and maintain it in the basic information of the items. Transport packages are not included in the reporting of material flows insofar as they are plastic boxes and plastic or wooden pallets that are reused in the logistical cycle. Material outflows are collected from the companies' sales statistics in accounti ng and are presented as net kilograms without packaging materials. Traded products included in the outflow are food products produced by Atria through subcontracting and which are not processed in Atria's own production processes. The total amount of waste includes the waste ending up in waste treatment from all production plants The waste volume includes fractions recovered as material and energy, as well as waste fractions deposited in landfills and those delivered for hazardous w aste treatment. The waste volume includes the liquid they contain. External service providers transport and process waste and report waste quantities and disposal method using R/D codes. • The proportion of waste streams of all outflowing material is calculated as follows: Total waste (tonnes) / [Total amount of food production (tonnes) + Total amount of feed production (tonnes) + Total amount of waste (tonnes)] x 100 % • The proportion of unutilised waste by calculating the proportion of waste streams reported with the R code (Reuse, Recycle, Recovery) in the total amount of waste. Changes in relation to previously reported information The reported data for 2024 have been refined for outgoing material flows, in which the classification for food and by-products of food production was corrected. 83SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 SOCIAL INFORMATION - ESRS S1 OWN WORKFORCE POLICIES In addition to applicable legislation, the sustainable treatment of Atria's own workforce is guided by the policies approved by the company's Board of Directors, such as the ethical principles (Atria Code of Conduct), as well as the human resources policy and management system. Atria Code of Conduct covers all Atria's personnel and is available to the personnel in Atria's intranet and publicly on Atria's website. More information on the content of the Atria Code of Conduct, its management and stakeholder engagement and communication is in section G1 Business conduct. All employment relationships are subject to the national laws, regulations and local collective agreements of each country of operation. Atria’s Human Resources policy defines the material aspects of personnel responsibility related to employment relationships, to which Atria is committed . These include a fair employment relationship, personnel well-being and safety at work, competence development, equality, non -discrimination and freedom of association, as well as the prevention of child labour and forced labour. Factors that increase employees' well-being at work include a physically and psychologically safe working environment, equal treatment of personnel, fair remuneration for work, a balance between work and leisure, and respect for fundamental human rights. Personnel planning processes are used to identify, prevent and intervene in activities that violate the operating principles. Preventive measures include regular and targeted training of both executive and targeted personnel in the themes included in the human resources policy. Feedback is collected in connection with the trainings. Among other things, this gives employees the opportunity to be consulted on the content of the policies that apply to them. In Finland and Sweden, personnel planning processes are subject to ISO 9001 certification audits and internal audits that regularly assess compliance. Employee well-being and safety at work Atria’s duty is to ensure an appropriate working environment in accordance with ILO Convention 155 on occupational safety and health and the working environment, which is confirmed in the legislation of the operating countries. The occupational health and safety management procedures applied in Atria's business areas are based on the requirements of local legislation. The well-being of personnel is affected by both physical and psychological factors. As a key part of Atria's occupational health and safety, all Atria's workplaces undergo regular job risk assessments. Measures are taken to prevent or mitigate the risks id entified by taking the necessary measures. Accidents, incidents and near misses are thoroughly investigated to prevent similar situations and to identify possible deficiencies in safety management. Measures are taken to prevent the burden of work by providing the necessary and sufficient work orientation at the beginning of the employment relationship. The orientation also covers matters related to occupational health and safety that are relevant to daily work duties. Atria’s occupational healthcare provision is arranged in each business area as part of the local social welfare and healthcare system. The role of occupational health also includes medical treatment, preventive measures such as vaccinations, and matters re lated to nutrition, for example. The occupational healthcare services also offer occupational health and safety expert services. The local occupational healthcare service takes many factors into account that affect the employees’ health and ability to work, such as the hazards and harm to health present in the work environment, the workload, and the resources of the employee and the work community. Atria's occupational health and safety management system is not certified by an external party. A fair employment relationship that enables a good life Atria strives for a good reputation as a reliable employer, offering predictability in the employment relationship and opportunities for work in different locations. Based on the local market statistics of the business areas, the remuneration paid at Atria for work is sufficient to cover the basic prerequisites for a good life, as defined in the UN’s International Covenant on Economic, Social and Cultural Rights. Working hours that comply with local legislation ensure sufficient rest time for recovering fro m work, and there is also time for other important things in life. The minimum requirements for working hours and pay, as well as the rights to family leave, are defined in the local legislation of Atria's operating areas and in collective agreements. Minimum requirements have been defined in each country of operation to maintain a safe and dignified standard of living. In addition, local labour market practices are followed, and the competitive total remuneration of the staff is ensured. A written employment contract is concluded with each employee, specifying the terms and conditions of the employment relationship. The employment contract and the applicable terms and conditions are presented in a language that the employee understands. Atria offers its employees working time flexibility. Flexible working hours make working more efficient and take into account the different life situations of employees. Atria monitors the development of the labour market in the use of voluntary flexibilit y models. Development discussions address issues related to the work-life balance of employees at least once a year. The company has a working time monitoring system in place, from which both managers and employees can monitor the accumulation of working time and take care of the equalisation of working time. Atria's HR maintains guidelines on various work flexibility models for both managers and employees. Atria’s remuneration system consists of wages or salary and employee benefits in accordance with 84SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 local market practices. All levels of the organisation ensure that the system is competitive, understandable, consistent, transparent, equitable, non -discriminatory and up-to-date. Management assesses the competitiveness of remuneration using market statis tics, employee satisfaction survey results and personnel turnover indicators. In addition to salary, employee benefits include, for example, voluntary life and accident insurance and occupational health services. Benefits exceeding the statutory level vary by business area. More information about the remuneration for Atria's management and key personnel are described in Note 31 to the consolidated financial statements. Atria Finland’s business area has a personnel fund established and owned by the personnel, which receives funds according to the result of Atria Plc and its Finnish subsidiaries. The personnel fund is the company’s optional way of rewarding personnel. The aim of distributing the profit-related bonus is to increase the personnel’s interest and awareness of Atria’s operational objectives and the conditions for success, as well as the employees’ ability to affect the company’s profitability through their own w ork. As a rule, Atria offers the same benefits to full -time and part-time employees. Cooperation in personnel planning At Atria, the main objective of personnel planning is to be able to meet future needs in accordance with the company's strategy. Personnel planning is carried out in cooperation with personnel. The cooperation is based on transparency about the profitabili ty of the business and plans at least to the extent and time span required by the legislation of each operating country, at a minimum. The aim of the cooperation is to develop Atria's operations in agreement with the personnel and to provide them with opportunities to influence decisions concerning their work, working conditions and position at Atria. In connection with operational change s, the focus is on personnel development opportunities and supporting employment. Atria respects the freedom of association of employees. More information about cooperation is provided below in the section Collaborative activities. Equality and diversity Equality and diversity are key principles that enrich the work community and promote fairness, creativity and innovation. The human resources policy commits to creating and maintaining a working environment where every employee feels valued and respected, regardless of their background, gender, ethnicity, religion, sexual orientation, age or abilities. Atria´s Human Resource policy and operations apply to all Group employees, and Atria has not identified any particularly vulnerable groups of employees separately. Atria Finland has joined the FIBS diversity commitment, which provides tools for Atria to develop diversity and inclusion management practices throughout the Group. Promoting diversity means taking active measures to integrate diverse perspectives and experiences into the organisation. Discrimination will not be tolerated in any form, and any incidents that arise will be addressed immediately. Recruitment processes ai m to ensure that every candidate has equal opportunities. Atria also encourages continuous learning and training. Atria Code of Conduct and the human resource policy, as well as process descriptions, create a basis for non -discrimination at Atria. This is supported by management training for managers, which strengthens non -discrimination on a practical level. In addition, equality planning in business areas supports equality and prevents discrimination. Gender equality planning is based on statutory equality reports. Gender equality plans define objectives and measures for identified development needs. In the largest business areas Finland and Sweden, gender equality planning is guided by occupational health and safety committees consisting of representatives of personnel groups. The implementation of the measures recorded in the equality plan is monitored by the meetings of the personnel g roups. Competence development Atria is a large multinational company that offers diverse development opportunities. Recruiting and engaging motivated employees and developing their professional skills form the basis of Atria's success. The competence of all personnel is monitored and developed in accordance with At ria's strategy, personnel surveys and personal development discussions. Personal development assessments and discussions on well -being at work are important in identifying employees' individual development targets and are the basis for an annually updated personnel training and development plan. The Group's HR management is re sponsible for the principles and methods of competence development, and the business areas are responsible for their application. The most important methods for developing employees' skills are on -the-job learning, on-the-job training, staff mobility for different tasks, also across the boundaries of business areas, sharing best practices, and competence development programmes as well as off -site training. Atria’s own experts are involved in planning and implementing training for personnel. Atria has an extensive online training offering, which includes training related to various work tasks and specific to work duties, as well as general materials that are mandatory for everyone. As part of the company's compliance management, Atria develops statistics on participation in training for the entire personnel or a specific group of personnel. 85SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 PROCESSES FOR ENGAGING WITH OWN EMPLOYEES AND THEIR REPRESENTATIVES ABOUT IMPACTS Atria’s Way of Work and Atria’s Way of Leading Atria’s Way of Working and Atria’s Way of Leading has formed the basis for the Succeeding Together personnel programme, which aims to develop personnel’s management skills and thereby strengthen cooperation, performance and employee commitment. Collective labour agreements Collective agreements ensure the renewal and development of working life in cooperation with personnel representatives. An open dialogue improves the personnel's ability to influence their own working environment and working conditions, which also increase s stability and predictability in the workplace. Atria maintains an active and regular dialogue between the social partners. At Atria, the policy is to inform employees about matters that are important to the company and to consult employees on matters that concern them. Employment relationships comply with the collective agreements that the industry applies in the countries of operation for salaried employees and employees. Employee's personal membership in the union is voluntary. The HR administration guides the consulta tion and inclusion processes in accordance with the cooperation legislation at Atria. Collaborative activities Employees are consulted in cooperation procedures that concern them. These may relate to well -being at work, working conditions and personnel reorganisation, for example. Group-level cooperation is implemented in the European Works Council (EWC), which meets twice a year at the invitation of the CEO of Atria Group. Representatives of all personnel groups from all business areas within the scope of EU legislation are invited to the meetings. The Works Council discusses the company's strategy and financial situation, the largest strategy projects and measures, as well as personnel-related issues, such as the number of employees, the results of the employee survey, matters related to occupational safety and well -being. Atria supports the employees’ freedom of association, and the membership of employee organisations or trade unions does not affect a person’s treatment in the workplace. In each business area, the cooperation between the employer and personnel groups is gu ided by local legislation. Personnel survey The personnel survey carried out annually provides valuable information and understanding of how Atria employees perceive their work and working environment, management, and Atria’s operating methods. This information helps in the development of operations and contributes to Atria's goal of improving the well-being of its personnel. The survey covers the matters of commitment, management and performance in terms of the company, unit and the emp loyee’s own work. The personnel survey also measures the effectiveness of communication. The high response rate (2025: 78 per cent) and personnel's positive responses to statements associated with the employer indicate success in the effectiveness of communication. Atria monitors the targets set for organisational culture and personnel development through the employee engagement index and the competence development index, both of which developed positively during the reporting period. Occupational health and safety committees and safety talks Atria Finland, Sweden and Denmark have occupational safety organisations that comply with the requirements of local occupational safety laws. They consist of representatives appointed by the employer and elected by the employees. The purpose of the company -specific occupational health and safety committees is to improve the working environment and working conditions in their areas of responsibility, and to secure and maintain the employees’ ability to work. Occupational health and safety committees are also responsible for preventing occupational accidents, occupational diseases, and other physical and mental health problems of employees. Occupational health and safety committees represent the entire own workforce, that is, the company’s own personnel and te mporary workforce. At Atria, the realisation of occupational safety is promoted by means of monthly safety talks, that is, discussions led by a supervisor. PROCESSES TO REMEDIATE NEGATIVE IMPACTS AND CHANNELS FOR OWN EMPLOYEES TO RAISE CONCERNS Whistleblowing channel Atria's whistleblowing channel offers the opportunity to report suspicions of irregularities related to Atria's operations confidentially without the threat of retaliation later. For more information about the whistleblowing channel, bringing up grievances and processing notifications, please see section G1 Business conduct. Occupational safety Atria's occupational safety risk assessment and management is supported by, among other things, a risk management system. As part of this process, incidents, safety observations and near misses, among other things, are investigated to take corrective measures. Atria and its subsidiaries assess and manage occupational safety risks in all areas of their operations. All accidents and incidents are thoroughly investigated to prevent similar situations and identify possible deficiencies in safety management. Continuous improvement and reporting of occupational safety also include monitoring action plans and evaluating the effectiveness of the implemented measures. ATRIA PLC Financial statements and the Report by the Board of Directors 2025 PROCESSES FOR ENGAGING WITH OWN EMPLOYEES AND THEIR REPRESENTATIVES ABOUT IMPACTS Atria’s Way of Work and Atria’s Way of Leading Atria’s Way of Working and Atria’s Way of Leading has formed the basis for the Succeeding Together personnel programme, which aims to develop personnel’s management skills and thereby strengthen cooperation, performance and employee commitment. Collective labour agreements Collective agreements ensure the renewal and development of working life in cooperation with personnel representatives. An open dialogue improves the personnel's ability to influence their own working environment and working conditions, which also increase s stability and predictability in the workplace. Atria maintains an active and regular dialogue between the social partners. At Atria, the policy is to inform employees about matters that are important to the company and to consult employees on matters that concern them. Employment relationships comply with the collective agreements that the industry applies in the countries of operation for salaried employees and employees. Employee's personal membership in the union is voluntary. The HR administration guides the consulta tion and inclusion processes in accordance with the cooperation legislation at Atria. Collaborative activities Employees are consulted in cooperation procedures that concern them. These may relate to well -being at work, working conditions and personnel reorganisation, for example. Group-level cooperation is implemented in the European Works Council (EWC), which meets twice a year at the invitation of the CEO of Atria Group. Representatives of all personnel groups from all business areas within the scope of EU legislation are invited to the meetings. The Works Council discusses the company's strategy and financial situation, the largest strategy projects and measures, as well as personnel-related issues, such as the number of employees, the results of the employee survey, matters related to occupational safety and well -being. Atria supports the employees’ freedom of association, and the membership of employee organisations or trade unions does not affect a person’s treatment in the workplace. In each business area, the cooperation between the employer and personnel groups is gu ided by local legislation. Personnel survey The personnel survey carried out annually provides valuable information and understanding of how Atria employees perceive their work and working environment, management, and Atria’s operating methods. This information helps in the development of operations and contributes to Atria's goal of improving the well-being of its personnel. The survey covers the matters of commitment, management and performance in terms of the company, unit and the emp loyee’s own work. The personnel survey also measures the effectiveness of communication. The high response rate (2025: 78 per cent) and personnel's positive responses to statements associated with the employer indicate success in the effectiveness of communication. Atria monitors the targets set for organisational culture and personnel development through the employee engagement index and the competence development index, both of which developed positively during the reporting period. Occupational health and safety committees and safety talks Atria Finland, Sweden and Denmark have occupational safety organisations that comply with the requirements of local occupational safety laws. They consist of representatives appointed by the employer and elected by the employees. The purpose of the company -specific occupational health and safety committees is to improve the working environment and working conditions in their areas of responsibility, and to secure and maintain the employees’ ability to work. Occupational health and safety committees are also responsible for preventing occupational accidents, occupational diseases, and other physical and mental health problems of employees. Occupational health and safety committees represent the entire own workforce, that is, the company’s own personnel and te mporary workforce. At Atria, the realisation of occupational safety is promoted by means of monthly safety talks, that is, discussions led by a supervisor. PROCESSES TO REMEDIATE NEGATIVE IMPACTS AND CHANNELS FOR OWN EMPLOYEES TO RAISE CONCERNS Whistleblowing channel Atria's whistleblowing channel offers the opportunity to report suspicions of irregularities related to Atria's operations confidentially without the threat of retaliation later. For more information about the whistleblowing channel, bringing up grievances and processing notifications, please see section G1 Business conduct. Occupational safety Atria's occupational safety risk assessment and management is supported by, among other things, a risk management system. As part of this process, incidents, safety observations and near misses, among other things, are investigated to take corrective measures. Atria and its subsidiaries assess and manage occupational safety risks in all areas of their operations. All accidents and incidents are thoroughly investigated to prevent similar situations and identify possible deficiencies in safety management. Continuous improvement and reporting of occupational safety also include monitoring action plans and evaluating the effectiveness of the implemented measures. ATRIA PLC Financial statements and the Report by the Board of Directors 2025 PROCESSES FOR ENGAGING WITH OWN EMPLOYEES AND THEIR REPRESENTATIVES ABOUT IMPACTS Atria’s Way of Work and Atria’s Way of Leading Atria’s Way of Working and Atria’s Way of Leading has formed the basis for the Succeeding Together personnel programme, which aims to develop personnel’s management skills and thereby strengthen cooperation, performance and employee commitment. Collective labour agreements Collective agreements ensure the renewal and development of working life in cooperation with personnel representatives. An open dialogue improves the personnel's ability to influence their own working environment and working conditions, which also increase s stability and predictability in the workplace. Atria maintains an active and regular dialogue between the social partners. At Atria, the policy is to inform employees about matters that are important to the company and to consult employees on matters that concern them. Employment relationships comply with the collective agreements that the industry applies in the countries of operation for salaried employees and employees. Employee's personal membership in the union is voluntary. The HR administration guides the consulta tion and inclusion processes in accordance with the cooperation legislation at Atria. Collaborative activities Employees are consulted in cooperation procedures that concern them. These may relate to well -being at work, working conditions and personnel reorganisation, for example. Group-level cooperation is implemented in the European Works Council (EWC), which meets twice a year at the invitation of the CEO of Atria Group. Representatives of all personnel groups from all business areas within the scope of EU legislation are invited to the meetings. The Works Council discusses the company's strategy and financial situation, the largest strategy projects and measures, as well as personnel-related issues, such as the number of employees, the results of the employee survey, matters related to occupational safety and well -being. Atria supports the employees’ freedom of association, and the membership of employee organisations or trade unions does not affect a person’s treatment in the workplace. In each business area, the cooperation between the employer and personnel groups is gu ided by local legislation. Personnel survey The personnel survey carried out annually provides valuable information and understanding of how Atria employees perceive their work and working environment, management, and Atria’s operating methods. This information helps in the development of operations and contributes to Atria's goal of improving the well-being of its personnel. The survey covers the matters of commitment, management and performance in terms of the company, unit and the emp loyee’s own work. The personnel survey also measures the effectiveness of communication. The high response rate (2025: 78 per cent) and personnel's positive responses to statements associated with the employer indicate success in the effectiveness of communication. Atria monitors the targets set for organisational culture and personnel development through the employee engagement index and the competence development index, both of which developed positively during the reporting period. Occupational health and safety committees and safety talks Atria Finland, Sweden and Denmark have occupational safety organisations that comply with the requirements of local occupational safety laws. They consist of representatives appointed by the employer and elected by the employees. The purpose of the company -specific occupational health and safety committees is to improve the working environment and working conditions in their areas of responsibility, and to secure and maintain the employees’ ability to work. Occupational health and safety committees are also responsible for preventing occupational accidents, occupational diseases, and other physical and mental health problems of employees. Occupational health and safety committees represent the entire own workforce, that is, the company’s own personnel and te mporary workforce. At Atria, the realisation of occupational safety is promoted by means of monthly safety talks, that is, discussions led by a supervisor. PROCESSES TO REMEDIATE NEGATIVE IMPACTS AND CHANNELS FOR OWN EMPLOYEES TO RAISE CONCERNS Whistleblowing channel Atria's whistleblowing channel offers the opportunity to report suspicions of irregularities related to Atria's operations confidentially without the threat of retaliation later. For more information about the whistleblowing channel, bringing up grievances and processing notifications, please see section G1 Business conduct. Occupational safety Atria's occupational safety risk assessment and management is supported by, among other things, a risk management system. As part of this process, incidents, safety observations and near misses, among other things, are investigated to take corrective measures. Atria and its subsidiaries assess and manage occupational safety risks in all areas of their operations. All accidents and incidents are thoroughly investigated to prevent similar situations and identify possible deficiencies in safety management. Continuous improvement and reporting of occupational safety also include monitoring action plans and evaluating the effectiveness of the implemented measures. 86SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 MEASURES • ISO 45 001 certification of Atria Finland’s occupational health and safety management system. • In 2025, occupational safety was again given special attention due to the increased accident frequency in 2024. This has been reflected, for example, on personnel training, occupational safety campaigns and management commitments to safety. Occupational sa fety was also made one of the categories awarded annually at the Atria Awards in 2025. • Based on the new strategy and the results of the personnel survey, personnel plans have been drawn up to strengthen a unified corporate culture, develop staff skills and improve leadership. These measures apply to all business areas of Atria. TARGETS Atria Group's management defines sustainability targets for its own personnel as part of the strategic management processes. The objectives and their realisation are discussed in the meetings of the personnel groups. • Atria's goal is to continuously reduce occupational accidents and improve occupational safety. The previously set target for accident frequency was 8 by 2025, and the actual accident frequency has averaged 14 during the strategy period 2021 –2025. In connection with the strategy update, target levels were reviewed against industry benchmarks, and the new target is to gradually reduce accident frequency so that it is regularly kept below level 10 and that the Group reaches level 8 by 2030. • Atria's goal is to strengthen a unified organisational culture that enables the growth and development of individuals and the organisation. The target is monitored annually by means of an employee survey, for which the employee engagement index and the com petence development index have been selected as specific indicators. Both strengthened further in 2025, and the goal is to continue this development. METRICS Characteristics of the undertaking’s employees Number of employees* (HC) Gender 2025 2024 Men 2,846 2,828 Women 1,945 1,956 Other N/A N/A Not reported N/A N/A Employees total 4,791 4,784 Country 2025 2024 Finland 3,200 3,229 Sweden 1,087 1,056 Denmark 143 154 Estonia 361 345 * In the financial statements (Note 7 to the consolidated financial statements) and in the report by the Board of Directors, the number of employees is indicated as an average of the FTE (full time equivalent) figure for the year. For sustainability reporting, the headcount (HC) or head count 100 (HC 100) figures on the last day of the year are used. Employee turnover (HC) 2025 2024 Resigned employees 337 282 Employee turnover 7.1% 5.9% ATRIA PLC Financial statements and the Report by the Board of Directors 2025 MEASURES • ISO 45 001 certification of Atria Finland’s occupational health and safety management system. • In 2025, occupational safety was again given special attention due to the increased accident frequency in 2024. This has been reflected, for example, on personnel training, occupational safety campaigns and management commitments to safety. Occupational sa fety was also made one of the categories awarded annually at the Atria Awards in 2025. • Based on the new strategy and the results of the personnel survey, personnel plans have been drawn up to strengthen a unified corporate culture, develop staff skills and improve leadership. These measures apply to all business areas of Atria. TARGETS Atria Group's management defines sustainability targets for its own personnel as part of the strategic management processes. The objectives and their realisation are discussed in the meetings of the personnel groups. • Atria's goal is to continuously reduce occupational accidents and improve occupational safety. The previously set target for accident frequency was 8 by 2025, and the actual accident frequency has averaged 14 during the strategy period 2021 –2025. In connection with the strategy update, target levels were reviewed against industry benchmarks, and the new target is to gradually reduce accident frequency so that it is regularly kept below level 10 and that the Group reaches level 8 by 2030. • Atria's goal is to strengthen a unified organisational culture that enables the growth and development of individuals and the organisation. The target is monitored annually by means of an employee survey, for which the employee engagement index and the com petence development index have been selected as specific indicators. Both strengthened further in 2025, and the goal is to continue this development. METRICS Characteristics of the undertaking’s employees Number of employees* (HC) Gender 2025 2024 Men 2,846 2,828 Women 1,945 1,956 Other N/A N/A Not reported N/A N/A Employees total 4,791 4,784 Country 2025 2024 Finland 3,200 3,229 Sweden 1,087 1,056 Denmark 143 154 Estonia 361 345 * In the financial statements (Note 7 to the consolidated financial statements) and in the report by the Board of Directors, the number of employees is indicated as an average of the FTE (full time equivalent) figure for the year. For sustainability reporting, the headcount (HC) or head count 100 (HC 100) figures on the last day of the year are used. Employee turnover (HC) 2025 2024 Resigned employees 337 282 Employee turnover 7.1% 5.9% 87SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 2025 (HC 100) Women Men Other Not reported Total Number of employees 1,788 2,665 N/A N/A 4,453 Number of permanent employees 1,537 2,304 N/A N/A 3,841 Number of temporary employees 251 361 N/A N/A 612 Number of non-guaranteed hours employees 0 0 N/A N/A 0 Number of full-time employees 1,689 2,562 N/A N/A 4,251 Number of part-time employees 101 101 N/A N/A 202 N/A Employees have declared their gender to be either male or female. 2025 (HC 100) Finland Sweden Denmark Estonia Total Number of employees 2,975 974 143 361 4,453 Number of permanent employees 2,451 887 143 360 3,841 Number of temporary employees 524 87 0 1 612 Number of non-guaranteed hours employees 0 0 0 0 0 Number of full-time employees 2,796 961 137 357 4,251 Number of part-time employees 179 13 6 4 202 2024 (HC 100) Women Men Other Not reported Total Number of employees 1,779 2,663 N/A N/A 4,442 Number of permanent employees 1,512 2,243 N/A N/A 3,755 Number of temporary employees 267 420 N/A N/A 687 Number of non-guaranteed hours employees 0 0 N/A N/A 0 Number of full-time employees 1,690 2,532 N/A N/A 4,222 Number of part-time employees 89 131 N/A N/A 220 N/A Employees have declared their gender to be either male or female. 2024 (HC 100) Finland Sweden Denmark Estonia Total Number of employees 2,992 951 154 345 4,442 Number of permanent employees 2,421 848 147 339 3,755 Number of temporary employees 571 103 7 6 687 Number of non-guaranteed hours employees 0 0 0 0 0 Number of full-time employees 2,821 915 147 339 4,222 Number of part-time employees 171 36 7 6 220 88SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Collective bargaining coverage and social dialogue* Coverage of employment contract negotiations Social dialogue Coverage rate Employees Workplace representation 0–19% Estonia Estonia 20–39% 40–59% 60–79% Denmark Denmark 80–100% Finland, Sweden Finland, Sweden *The situation has not changed from the previous year Diversity metrics 2025, HC Women Men Total Senior management 13 32 45 Senior management % 29% 71% 100% under 30 years 30–50 years over 50 years Employee age distribution 987 2,162 1,613 2024, HC Women Men Total Senior management 14 28 42 Senior management % 33% 67% 100% under 30 years 30–50 years over 50 years Employee age distribution 996 2,205 1,554 Adequate wage All Atria's employees are paid adequate wages in accordance with the applicable benchmarks. Of Atria's business areas, only Estonia has a statutory minimum wage. The definition of adequate wage is based on collective agreements and labour market practices, among other things. Social protection All Atria's employees are covered by social protection in case of loss of income due to major life events. Such life events may include illness, unemployment, disability or incapacity at work, parental leave, or retirement. Training and skills development metrics Personal development assessments and discussions on well -being at work are important in identifying employees' individual development targets and are the basis for an annually updated personnel training and development plan. Employees 2025 Women Men Total Development discussion participants (%) 57 48 51.2 Average training hours 5.0 3.8 4.3 2024 Women Men Total Development discussion participants ( %)* 45.8 Average training hours 6.3 3.6 4.7 * 2024 ei eritelty sukupuolen mukaan kehityskeskusteluihin osallistuneiden määrää. 89SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Health and safety metrics 2025 2024 Own workforce covered by occupational health and safety (%) 100 100 Number of deaths due to work-related injuries and work-related health problems 0 0 Number of accidents 76 102 Number of work-related injuries and fatalities due to accidents at work as well as lost days due to work -related health problems and fatalities due to work-related health problems 1,455 2,583 Base year 2020 2024 2025 Target 2030 Accident frequency rate (LTA) 18 14 10 8 Work-life balance metrics 2025 Women Men Total Employees entitled to parental leave (%) 100* Employees taking family leave (%) 14.6 10.0 11.9 2024 Women Men Total Employees entitled to parental leave (%) 100 Employees taking family leave (%) 14.7 9.6 11.7 *All Atria employees are entitled to family leave under social policy and/or collective agreements. Compensation metrics 2025 2024 Gender pay gap calculated from the average salary of men 11.8 11.2 Annual total earnings ratio 12.7 13.1 Incidents, complaints and severe human rights impacts 2025 2024 Number of discrimination cases 0 1 Complaints submitted through the whistleblowing channel** 10 1 Fines, penalties and damages related to the cases 0 0 Serious human rights violations 0 0 Fines, penalties and damages related to serious human rights cases 0 0 **During the reporting period, one incident of harassment was reported to the whistleblowing channel. The case has led to labour law actions, and no fines have been imposed on Atria. 90SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ACCOUNTING POLICIES FOR INDICATORS In sustainability reporting, the information required by standard S1 Own workforce has been collected from the companies' payroll management or HR management systems. The indicators have not been validated by an external body other than the verification service provider. The number of persons is presented as HC100 figures, unless otherwise stated in the header row of the metrics. The numbers of persons are figures for the last day of the financial year. Atria has no non -binary or unspecified employees. Atria does not collect information about and has not reported any of the following • Non-employee labour force. The workforce acquired through subcontractors or temp agencies is estimated to be less than 100 people in the entire Group. The number is not significant for Atria, and these individuals are not included in Atria’s HR systems. • Persons' work ability limitations. The collection of data is not allowed in all of Atria's operating countries. • The number of days of sick leave for work -related diseases cannot be reported because the collection of data has not been systematic. Clarification of matters related to the calculation of indicators • The turnover of employees in an employment relationship has been calculated by dividing the number of people who have left by the total number of employees. The number of employees who have left does not take into account the turnover of seasonal workers. The employment relationship of seasonal workers usually lasts from a few weeks to a few months. • The gender pay gap is calculated by calculating the difference between men's and women's pay and dividing it by men's pay. Annual total remuneration does not include the salary of the highest-paid person. • Atria's goal is to hold development discussions with the entire personnel. Development discussions are held regularly with employees, but these have not been recorded in the system for all production employees. Thus, information on development discussions has not been collected in the system for all employees. However, the reported figure is the number of development discussions recorded in the systems. • In terms of training hours, all recorded and verifiable hours have been reported. • Occupational accidents take into account accidents that have led to an absence of at least eight hours. For the calculation of days lost, the number of the days is the difference between the start date and the end date, taking into account Monday to Saturd ay for each full week. The calculation has been refined in the financial year 2025 and it is not directly comparable with the data provided for 2024. The accident frequency measures the number occupational accidents in relation to the hours worked. It is c alculated by dividing the number of accidents occurred during the reporting period by the total number of hours worked and multiplying the result by one million (1,000,000). Korv-Görans Kebab Oy is not included in the reporting of Atria Finland's and thus the Group's accident rates. • Atria has a sales company in Poland, which employed 29 people at the turn of the year. They are considered in the “Number of employed persons” and “Employment relationships” of Sweden’s business area but not in other indicators. 91SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 SOCIAL INFORMATION - ESRS S4 CONSUMERS AND END-USERS POLICIES Atria's activities related to consumers and end- users are guided by the principles, which consist of Atria Code of Conduct approved by the Board of Directors of the Group, Atria Supplier Code of Conduct, and the food safety, quality, nutrition and product sustainability policy approved by the Group's CEO. Atria Code of Conduct is aligned with internationally recognised consumer and end -user standards, including the United Nations Guiding Principles on Business and Human Rights. Atria has no known cases of non-compliance with the standards. More information about the management of Atria Code of Conduct is in section G1 Business conduct. The aim of the policies is to ensure sustainable and healthy business, to guide active dialogue with all our stakeholders, to prevent adverse impacts on the environment and to promote environmental and social responsibility and human rights. Atria Code of Conduct and the policie s implementing it ensure that all consumer and end-user groups have sustainable products. According to the UN Declaration of Human Rights, all people should have access to sufficient safe and nutritious food that supports their health and well -being. Atria's operations support these human rights for consumers and end-users. Atria is committed to ensuring food safety, promoting continuous improvement in quality and promoting responsibility throughout the value chain. At Atria, good food means taking into account the stakeholder expectations set for the entire food chain and committing to fulfilling all legal requirements concerning business and products. Legislation regulating consumer information and food safety in operating countries and complied by Atria sets the minimum requirements for the information provided about and labelling of products. With proper product information and labelling, consumers can choose, store and use products safely. COMMUNICATION WITH CONSUMERS AND END-USERS Atria makes use of extensive and continuous market research data to identify different customer and consumer needs and to understand how they change. Consumer surveys target consumers directly. Consumer awareness of sustainable food choices, healthy lifest yles, sustainable development and animal welfare is constantly growing. Atria’s product development uses research data in a versatile way, both in developing existing products further and in the planning of new products and product concepts. The task of product category management is to ensure that the product range meets different customer and consumer needs. The aim of Atria's communications to consumers, such as advertising, packaging design and social media, is to provide consumers with relevant information to support their choices. Atria's communications follow the principles of good marketing practice, whi ch create and maintain consumer confidence in the company and its products. Companies belonging to the Atria Group comply with the International Chamber of Commerce's (ICC) marketing rules. Atria encourages and guides consumers with its communications to compile a varied diet and guides customers to prepare nutritious and tasty meal . Atria indicates in its packaging, among other things, information on the nutritional content and the ingredients of the product. In accordance with the Regulation on Nutrition and Health Claims Made on Foods (EC) No. 1924/2006, nutrition and health claims are always based on validated scientific studies and officially approved wording. The correctness of the labelling, including the legality of various claims, is part of the food safety monitoring carried out by the authorities. PROCESSES FOR PREVENTING NEGATIVE IMPACTS AND MANAGING RISKS The endangerment of food safety is a potential material sustainability impact on consumers and end - users, in connection with which a material financial risk has also been identified. For these reasons, Atria has a food safety management system in place for maintaining and developing food safety. Atria’s food safety management system accounts for the safety and health effects of products throughout their lifecycle including the sourcing of raw materials, the manufacturing process, and distribution chains all the way to consumer use. All Atria products go through this review. Atria's production facilities are subject to comprehensive national regulatory control. In addition, Atria maintains certified food safety management systems approved by the Global Food Safety Initiative (GFSI). The basis of the food safety management syst em is self-monitoring. Self-monitoring at Atria is based on the Hazard Analysis Critical Control Points (HACCP) risk management system and the support system for self-monitoring. The support system for self -monitoring consists of procedures based on the Good Hygiene Practices (GHP) and Good Manufacturing Practices (GMP) in line with laws and standards, as well as their supervision. The shelf life and safety of Atria’s products is analysed in our accredited laboratories. Atria also purchases laboratory servi ces from its accredited partner laboratories. Atria is committed to the continuous improvement of food safety and therefore cooperates with various universities and research institutes in the sector. The costs of maintaining and developing the food safety system include the annual operating expenses related to the certification and inspection fees of production facilities, as well as capital expenses related to the company's laboratory activities, as w ell as the salary costs of the personnel resources allocated to the development of food safety. 92SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 Channels for consumers and end-users to raise concerns Contacts from consumers and end -users are processed in the Consumer Service. The Consumer Service receives feedback through various channels, investigates potential problems and offers a solution. Communication takes place in accordance with the consumer's wishes, taking care of the consumer's privacy. Contacts regarding product feedback are used in the development of products and production processes. In case of potential food safety risks, a standardised recall process as defined in the EU (178/2002) Food Regulation is followed in order to remove all products that may be harmful to health from the market and end users’ access. The recall process includes public communications and the withdrawal of defective products from the market. To mitigate the negative impacts on consumers, Atria has taken out product liability insurance. The company has a process in place for managing food safety and quality deviations, according to which the analyses of deviations are carried out, and the necessary corrective measures are implemented. The effectiveness of corrective measures is assessed as part of food safety management procedures, among other things through consumer satisfaction measurements and reports from supervisory authoritie s. 93SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 TARGETS For the guidance and development of food safety, responsible persons from each business area have been appointed, who form the Safe Atria Quality Steering Group. The task of the group is to define the Group's Food Safety, Nutrition, Quality and Product Res ponsibility Policy and the strategies necessary for its implementation. The Steering Group sets objectives for food safety and organises internal and external development projects with partners, monitors the effectiveness of these projects and reports the results to Atria Group’s management. The authority and stakeholder requirements, such as the assumption of uncompromising food safety, are the basis for Atria's targeted product quality and setting the company's sustainability targets. Facility certifications go beyond the statutory level and include a requirement for a commitment to continuous improvement. The targets of Atria's strategy period extending to 2030 is to : • maintain the certifications of all production facilities in accordance with the GFSI -approved food safety standards; • have zero product recalls; and • maintain a wide range of options that meet generally accepted nutritional criteria (the Heart Symbol and Keyhole Symbol). The Heart Symbol and Keyhole Symbol indicate that the product contains less salt and fat than similar products, the quality of the fat is better (a higher proportion of soft fats), sugar has been reduced or not added at all, and the fibre content meets the requirements specific to the product category. These criteria are based on nutrition recommendations drawn up by the authorities and guide the consumer to choose healthier alternatives. Estonia does not have a similar labelling system. METRICS ACCOUNTING POLICIES FOR INDICATORS The “Production volume (%) manufactured in certified facilities indicator is calculated as the volume of food production in certified facilities divided by the production volume of all companies that process and sell Atria's food products (E5-5 Resource outflows: Food products). The indicator does not include subcontracting and other agency products (E5 -5 Resource outflows: Agency products). Certification information is public and certificates are also published on Atria's website. Recalls refer to public recalls that are communicated to all necessary stakeholders in accordance with the company's recall guidelines. Recall data is collected from the organisation responsible for the companies' food safety system. The number of products with the Heart Symbol (Finland) and Keyhole Symbol (Sweden and Denmark) is calculated based on the product range at the end of the reporting year. 2020 2024 2025 Production volume (%) manufactured in certified facilities (Group total) - 93 93 Total number of product recalls 5 5 2 • Finland 2 1 2 • Sweden 2 0 0 • Denmark 0 2 0 • Estonia 1 2 0 Total number of products with a Heart Symbol and Keyhole Symbol 354 350 374 • Finland (Heart Symbol) 126 174 201 • Sweden (Keyhole Symbol) 205 152 153 • Denmark (Keyhole Symbol) 23 24 20 94SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 GOVERNANCE INFORMATION - ESRS G1 BUSINESS CONDUCT BUSINESS CONDUCT POLICIES AND CORPORATE CULTURE Atria's corporate culture is maintained, developed and promoted by implementing Atria's Code of Conduct, related Group policies, Supplier Code of Conduct and the strategic sustainability goals. In its Code of Conduct, Atria makes a commitment to the following international agreements and recommendations: • The UN’s Global Compact initiative for the promotion of universal principles in the areas of human rights, labour rights, environmental protection and anti -corruption. The initiative is also known as The Ten Principles. • The UN’s Universal Declaration of Human Rights and Convention on the Rights of the Child. • The ILO Declaration on Fundamental Principles and Rights at Work and the key labour Conventions. • OECD Guidelines for Multinational Enterprises. • ICC Business Charter for Sustainable Development and ICC Rules on Combating Corruption. • Business Social Compliance Initiative (BSCI) Responsible Purchasing Practices. • Science Based Target initiative (SBTi) approved climate targets. In its operating principles, Atria defines and articulates its business ethics, stakeholder relations and the promotion of sustainable development in relation to international commitments. The operating principles of the business have also been discussed in the Group policies. The Board of Directors and Atria Group’s Management Team annually review nearly twenty administrative and operational policies. The content of the policies has been updated in 2025 due to, for example, the development of legislation and the company's operating practices. In addition to Atria Code of Conduct, the policies approved by the Board of Directors of the Atria Group include: • Investment policy • Anti-corruption and anti-bribery policy • Related party policy • Decision-making policy • Treasury policy • Risk management policy • Insider policy • Electricity procurement policy • Disclosure policy • Tax policy Policies approved by the CEO of the Atria Group are: • Food safety, quality, nutrition and product sustainability policy • Animal welfare policy • Atria Sourcing policy • Human Resources policy • Personal Data Processing (GDPR) Policy • Antitrust policy • Marketing and communications policy • Information security policy • Insurance policy • Whistleblowing policy • Environmental policy The Board of Directors of Atria Plc is the highest responsible party for the business operations of the entire Group, and it approves Atria Code of Conduct and Group policies guiding the operations and internal control of the entire Group. Atria Code of Conduct have been explained in more detail in the Atria Group's policies and guidelines, which define and guide the dec isions and operations of the companies belonging to the Atria Group in practice. The process of preparing Group policies identifies the key internal and external stakeholders of the policy and explains the expectations of the 95SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 stakeholders in relation to the sustainability issues addressed by the policy. The Board of Directors of Atria Corporation also approves a version of Atria's Code of Conduct aimed at business partners, which communicates the content of the Code of Conduct as requirements and sustainability objectives for the supply chain. Atria Code of Conduct and the Supplier Code of Conduct were updated in 2025, and a plan was drawn up to implement the updated Codes of Conduct across operations and with partners. Atria Code of Conduct and the Group policies are available to Atria's employ ees on Atria's intranet. The most important policies for external stakeholders have been published on Atria's website. The Group's entire personnel must regularly complete training on Atria Code of Conduct. Training concerning Atria Code of Conduct is also an integral part of the induction programme for new employees. Atria's online training concerning the Code of Conduct covers the key ethical principles to be followed at Atria and illustrates best practices related to business responsibility through examp les and tasks. Training on the Atria Code of Conduct was revised during 2025, and new training was launched for employees to complete by 31 December 2025. With the system reforms, the aim is that completed training can be reported going forward. Employees and management are also required to complete online training in other Group policies. In 2025, employees and management had to complete cybersecurity training and competition law training, in addition to the Atria Code of Conduct training. In add ition, the Group organised targeted training on preventing money laundering and on complying with sanctions regulations. More information on training is given in section S1 Own workforce . During 2025, a Compliance Board was established within the Group with the purpose of providing guidance, training, ensuring and monitoring compliance with the law and the Group's internal rules. The Compliance Board convened 9 times. The Compliance Board r eports to the Board of Directors. In 2025, the Compliance Board prepared Atria Group’s compliance programme and launched the compliance training programme. Atria's management team evaluates success in promoting the corporate culture through reputation surveys, industry reports, media monitoring and irregularities reporting. Atria Plc’s Board of Directors reviews, on a quarterly basis, the compliance report (previously the legal review), which includes an overview of significant legal and administrative proceedings, data protection and information security breaches reported to the autho rities, possible cases of corruption or bribery, other compliance breaches, as well as serious deviations. In addition, the Group organises an annual legal, compliance and tax review, in which the financial management of all business areas and the Group's financial administration participate. Mechanisms for identifying, investigating and reporting irregularities Atria Group introduced a separate channel for reporting irregularities in 2021 in accordance with Regulation (EU) 2019/1937. The technical implementation of Atria's whistleblowing channel is the responsibility of an external service provider, and reporting in the channel can be done anonymously. The channel is available on the company's website and open to all internal and external stakeholders of the company. More information about reporting irregularities and the related legislation, as well as Atria's processes, is provided in the whistleblowing channel and also in Atria's internal communication channels. Prior to the implementation of the channel, the channe l and related processes have been discussed in the meetings of the personnel groups of each business area. The Company is committed to investigating reported and/or suspected irregularities in an appropriate, independent and objective manner and is committed to protecting the rights and privacy of persons who report. The management and investigation of the whistleblowing channel is the responsibility of a separate group external to the operational management, appointed by the Compliance Board, which can del egate the investigation to the company or an external party, if necessary. The legal department takes care of the proper training of the group members for the task. The group prepares a summary of irregularities reports to the Group's Compliance Board, whi ch reports the summary of irregularities reports to the company's Board of Directors as part of the quarterly compliance reporting. The principles and procedures for handling irregularities reports are described in the company's public policy on irregulari ties reports. In addition, employees still have the opportunity to report any breaches or suspected breaches to their manager, their manager’s supervisor, and a representative of Human Resources or Group Legal. In 2025, the whistleblowing channel received a total of ten (10) irregularities reports. Three of these cases were found to be irrelevant, as they fell outside the Whistleblower Protection Act’s (1171/2022) scope. In three cases the necessary additional information for the investigation was not obtained, so the investigation could not be started. Four cases were investigated. Of these, two reports were found to be part of the normal HR management process in closer in vestigation. No irregularities were found in any of the cases investigated, but one report resulted in more detailed guidance provided to a partner in a GDPR-related case. Based on one report, the internal guidance of one of the Group's business areas on the sale of end-of-life machines was further specified. In future, the company will continue to increase targeted communication to employees and stakeholders about the whistleblowing channel to increase stakeholders' awareness and trust in the use of the channel. 96SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 SUPPLIER RELATIONSHIP MANAGEMENT, DUE DILIGENCE In its business, Atria is committed to a fair and ethically sustainable way of operating in relation to business partners, such as material suppliers, farmers, subcontractors, service providers and other partners. Atria requires its business partners to co mply with all applicable laws, regulations and international commitments concerning their own operations and the requirements set for their business partners in Atria's operating principles. Atria confirms the supplier's commitment to the Supplier Code of Conduct by including it in agreements with business partners. To ensure the compliance of suppliers and other partners, Atria follows a due diligence process based on a systematic and risk-based approach. The processes are described in Atria's procurement policies and comply with, for example, the OECD Guidelines for M ultinational Enterprises. Supplier relations management is based on regular identification and assessment of potential sustainability risks in the supply chain. To assess the suppliers' performance and identify possible deficiencies or adverse effects, Atria uses a combination of country risk mappings and industry reports, supplier surveys, audits and internal performance assessments. Supplier evaluations are carrie d out both before the contract is signed and during the cooperation relationship. Atria prioritises risk management activities for business partners according to the above- mentioned risk mapping results and the business criticality of the supplier relationship. If non -compliant practices are detected in the assessment, Atria requires th e business partner to commit to corrective actions. If the business partners deliberately act incorrectly or neglect the agreed action plans, Atria may also terminate the business relationship. PREVENTION AND DETECTION OF CORRUPTION AND BRIBERY Atria Code of Conduct and the Supplier Code of Conduct include a prohibition of corruption and bribery, as well as principles related to gifts and hospitality. To prevent corruption, bribery and irregularities related to position, Atria's employees have been given more detailed instructions in a separate anti - corruption policy. The policy includes guidelines on business gifts, hospitality and travel, as well as activities with public officials. Corruption and bribery -related irregularities are covered in accordance with the procedures described earlier in the section “Mechanisms for identifying, investigating and reporting irregularities”. The aim is to manage the risk of corruption and bribery in the Atria Group through training, supervision and solutions concerning control, processes and approval procedures. The management, purchasing and sales functions have been identified in the Atria G roup as the most exposed to the risk of corruption and bribery. Atria trains its employees to detect corruption, bribery and irregularities. Employees and management are required to complete online training on the prevention of corruption and bribery regularly. The trainings cover all risk groups, but for the reporting year there was no formal process for monitoring the completion of trainings, especially for risk groups. Atria has a procedure in place for the production chain that involves checking the background of partners for corruption, money laundering, human rights violations and various irregularities before entering into a binding agreement. Risks are also regularl y mapped throughout the partnership. INCIDENTS OF CORRUPTION OR BRIBERY In 2025, no incidents of bribery or corruption came to Atria's attention, that • would have resulted in the dismissal of Atria's own employees or disciplinary sanctions against them, • would have resulted in terminating or not renewing contracts with business partners, • would have resulted in fines or public legal action against Atria or its employees. Indicators have not been validated by an external body other than the verification service provider. 97SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC Financial statements and the Report by the Board of Directors 2025 ANIMAL WELFARE Atria's goal is to ensure animal welfare, the responsible use of antibiotics and biosecurity in the value chain. In all business areas, the practices defined in the procurement policy and the contract production model in Finland support the achievement of these objectives. 76 per cent of the meat purchased by Atria comes from contract producers. Atria’s contract producers are committed to production guidelines that take into account the above -mentioned aspects. Atria's animal welfare policy, approved by the CEO of Atria Group, sets the framework for good production practices in contract production and also sets minimum criteria for other procurement of raw materials of animal origin. The animal welfare policy is based on the Five Freedoms for animal welfare issued by the World Organisation for Animal Health: 1. Freedom from hunger and thirst 2. Freedom from physical and thermal discomfort 3. Freedom from pain, injury and disease 4. Freedom to express normal patterns of behaviour 5. Freedom from fear and distress To develop animal welfare, Atria works closely with contract producers, industry associations, research institutes and authorities, and maintains a dialogue with those interested in and responsible for animal welfare. Regarding animal welfare, the aim is to continuously improve production methods based on scientific evidence and ensure good animal welfare in sourcing other than contract production as well. Development of feeds Atria’s feed business in Finland is a key part of responsible primary production. Feeding affects animal welfare, the environmental performance of the value chain and the competitiveness of farms. Data solutions and research provide the basis for data -driven management in feed development. When the development of feed is under Atria’s control, its impacts on production results and animal welfare can be verified in the production chain. The starting point of the development work is the optimisation of the nutritional properties of feed without compromising animal welfare. Development work focuses on domestic protein sources and resilience of the food chain, which, among other things, strengthens security of supply. For more information on the environmental im pacts of feed, see E4 Biodiversity and ecosystems. Responsible use of antibiotics As stated in Atria’s animal welfare policy, responsible use of antibiotics is also required in the meat sourcing chains of all business areas. Preventive work for the welfare and health of animals allows for freedom from antibiotics to such an extent that the animals do not need to be medicated with antibiotics throughout their lives. On Atria’s contract farms, antibiotics are not used routinely without justification. Only sick animals are treated based on a veterinarian’s diagnosis, avoiding unnecessary me dication. Animal medication on farms is supervised by the farm’s own attending veterinarian, and the medicine records are supervised by the official veterinarian. Through statutory chain communication, Atria receives information about any medication admini stered to the animals. In Atria's contract production, chickens grow completely without antibiotics. The use of antibiotics is subject to the statutory record-keeping and notification obligations of veterinarians and the farm, according to which chickens of the production genera tion have not received antibiotics during the reporting year. In the production of pork, contract producers have the opportunity to join a production method in which individual pigs who have been raised without antibiotics are kept separate. Antibiotic - free farming makes it possible to commercialise the positive value of the raising method also in pork. Antibiotic-free raising is also promoted in beef production. Biosecurity Systematic prevention of various food -related risks such as zoonoses is important for both human health and the continuity of Atria’s business. Based on the WHO's One Health philosophy, Atria's biosecurity strategy covers principles and procedures for ensu ring the well-being of people, animals and the environment, as well as the safety of products. At the heart of the biosecurity strategy from the point of view of animal welfare are preventive health care work on animal diseases which require legislative control and contingency planning, among other things. Atria has preparedness plans in place for e asily infectious animal diseases for each production line. The purpose of the contingency plans is to prepare for disruptions caused by any animal disease, determine measures to minimise the loss and damage caused by an animal disease and facilitate recovery from the occurrence of animal disease. In addition to Atria’s veterinarians and other experts, expert veterinarians from sector associations and attending veterinarians provide farms with support. 98SUSTAINABILITY STATEMENT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) 99CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CONSOLIDATED INCOME STATEMENT EUR 1,000 Note 1 Jan –31 Dec 202 5 1 Jan –31 Dec 202 4 Net sales 1, 2 1,813,734 1,755,368 Cost of goods sold 7, 8 -1,615,783 -1,564,062 Gross profit 197,952 191,306 Sales and marketing expenses 3, 7, 8 -72,176 -74,005 Administrative expenses 4, 7, 8 -58,413 -52,462 Other operating income 5 4,474 4,564 Other operating expenses 6, 8 -7,819 -3,023 EBIT 1, 11 64,018 66,379 Financial income 9, 29 7,434 9,544 Financial expenses 9, 25, 29 -18,085 -24,991 Net financial items -10,651 -15,447 Share of profit (loss) from investments accounted for using the equity method 16 246 1,125 Profit before taxes 53,614 52,056 Income taxes 10, 18 -10,048 -9,060 Profit for the period 43,566 42,997 Profit attributable to: Owners of the parent company 11 40,702 39,654 Non-controlling interests 2,864 3,342 Total 43,566 42,997 Basic earnings per share, EUR 11 1.44 1.41 Earnings per share adjusted by the dilution effect, EUR 11 1.44 1.41 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME EUR 1,000 Note 1 Jan –31 Dec 202 5 1 Jan –31 Dec 202 4 Profit for the period 43,566 42,997 Other items of comprehensive income after tax: Items not reclassified to profit or loss Actuarial gains/losses from benefit -based pension obligations 10, 26 598 -551 Changes in the fair value of equity investments at fair value through other comprehensive income 0 0 Items reclassified to profit or loss when specific conditions are met Cash flow hedges 9, 10, 29 1,069 -4,864 Translation differences 9, 10, 29 6,091 -3,351 Comprehensive income for the period 51,323 34,230 Comprehensive income distribution for the period: Owners of the parent company 48,460 30,887 Non-controlling interests 2,864 3,342 Total 51,323 34,230 The notes on pages 104–142 are an integral part of the consolidated financial statements. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CONSOLIDATED INCOME STATEMENT EUR 1,000 Note 1 Jan –31 Dec 202 5 1 Jan –31 Dec 202 4 Net sales 1, 2 1,813,734 1,755,368 Cost of goods sold 7, 8 -1,615,783 -1,564,062 Gross profit 197,952 191,306 Sales and marketing expenses 3, 7, 8 -72,176 -74,005 Administrative expenses 4, 7, 8 -58,413 -52,462 Other operating income 5 4,474 4,564 Other operating expenses 6, 8 -7,819 -3,023 EBIT 1, 11 64,018 66,379 Financial income 9, 29 7,434 9,544 Financial expenses 9, 25, 29 -18,085 -24,991 Net financial items -10,651 -15,447 Share of profit (loss) from investments accounted for using the equity method 16 246 1,125 Profit before taxes 53,614 52,056 Income taxes 10, 18 -10,048 -9,060 Profit for the period 43,566 42,997 Profit attributable to: Owners of the parent company 11 40,702 39,654 Non-controlling interests 2,864 3,342 Total 43,566 42,997 Basic earnings per share, EUR 11 1.44 1.41 Earnings per share adjusted by the dilution effect, EUR 11 1.44 1.41 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME EUR 1,000 Note 1 Jan –31 Dec 202 5 1 Jan –31 Dec 202 4 Profit for the period 43,566 42,997 Other items of comprehensive income after tax: Items not reclassified to profit or loss Actuarial gains/losses from benefit -based pension obligations 10, 26 598 -551 Changes in the fair value of equity investments at fair value through other comprehensive income 0 0 Items reclassified to profit or loss when specific conditions are met Cash flow hedges 9, 10, 29 1,069 -4,864 Translation differences 9, 10, 29 6,091 -3,351 Comprehensive income for the period 51,323 34,230 Comprehensive income distribution for the period: Owners of the parent company 48,460 30,887 Non-controlling interests 2,864 3,342 Total 51,323 34,230 The notes on pages 104–142 are an integral part of the consolidated financial statements. 100CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS, EUR 1,000 Note 31 Dec 2025 31 Dec 2024 Non-current assets Property, plant and equipment 12 530,060 523,999 Biological assets 13 498 597 Right-of-use assets 14 17,925 22,765 Goodwill 15 84,464 82,270 Other intangible assets 15 59,694 59,663 Investments in joint ventures and associates 16, 31, 35 21,074 21,263 Other financial assets 17, 29 3,689 2,840 Trade receivables, loans and other receivables 20, 29 8,605 9,340 Deferred tax assets 10, 18 3,452 2,465 Total 32, 33 729,462 725,203 Current assets Inventories 19 128,333 125,920 Biological assets 13 4,536 5,333 Trade and other receivables 20, 29, 32, 33 105,900 105,042 Current tax assets 256 3,386 Cash and cash equivalents 21, 29 30,903 19,911 Total 32, 33 269,928 259,591 Total assets 1 999,390 984,794 EQUITY AND LIABILITIES, EUR 1,000 Note 31 Dec 2025 31 Dec 2024 Equity attributable to the shareholders of the parent company Share capital 48,055 48,055 Invested unrestricted equity fund 238,803 238,803 Other funds 116 -1,388 Translation differences -15,017 -21,110 Retained earnings 160,029 138,059 Total 10, 11, 18, 22, 23 ,29 431,986 402,418 Non-controlling interests 22,807 21,289 Total equity 454,793 423,707 Non-current liabilities Loans 24, 29 226,026 253,556 Lease liabilities 25 9,589 14,239 Deferred tax liabilities 10, 18 33,146 33,979 Pension obligations 26 4,754 5,318 Other liabilities 27, 29 8,643 8,475 Provisions 27 3,118 58 Total 32, 33 285,277 315,624 Current liabilities Loans 24, 29 5,030 4,792 Lease liabilities 25 8,962 9,105 Trade and other payables 28, 31 241,812 230,208 Current tax liabilities 3,514 1,357 Total 32, 33 259,319 245,462 Total liabilities 1 544,596 561,087 Total equity and liabilities 999,390 984,794 The notes on pages 104-142 are an integral part of the consolidated financial statements. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS, EUR 1,000 Note 31 Dec 2025 31 Dec 2024 Non-current assets Property, plant and equipment 12 530,060 523,999 Biological assets 13 498 597 Right-of-use assets 14 17,925 22,765 Goodwill 15 84,464 82,270 Other intangible assets 15 59,694 59,663 Investments in joint ventures and associates 16, 31, 35 21,074 21,263 Other financial assets 17, 29 3,689 2,840 Trade receivables, loans and other receivables 20, 29 8,605 9,340 Deferred tax assets 10, 18 3,452 2,465 Total 32, 33 729,462 725,203 Current assets Inventories 19 128,333 125,920 Biological assets 13 4,536 5,333 Trade and other receivables 20, 29, 32, 33 105,900 105,042 Current tax assets 256 3,386 Cash and cash equivalents 21, 29 30,903 19,911 Total 32, 33 269,928 259,591 Total assets 1 999,390 984,794 EQUITY AND LIABILITIES, EUR 1,000 Note 31 Dec 2025 31 Dec 2024 Equity attributable to the shareholders of the parent company Share capital 48,055 48,055 Invested unrestricted equity fund 238,803 238,803 Other funds 116 -1,388 Translation differences -15,017 -21,110 Retained earnings 160,029 138,059 Total 10, 11, 18, 22, 23 ,29 431,986 402,418 Non-controlling interests 22,807 21,289 Total equity 454,793 423,707 Non-current liabilities Loans 24, 29 226,026 253,556 Lease liabilities 25 9,589 14,239 Deferred tax liabilities 10, 18 33,146 33,979 Pension obligations 26 4,754 5,318 Other liabilities 27, 29 8,643 8,475 Provisions 27 3,118 58 Total 32, 33 285,277 315,624 Current liabilities Loans 24, 29 5,030 4,792 Lease liabilities 25 8,962 9,105 Trade and other payables 28, 31 241,812 230,208 Current tax liabilities 3,514 1,357 Total 32, 33 259,319 245,462 Total liabilities 1 544,596 561,087 Total equity and liabilities 999,390 984,794 The notes on pages 104-142 are an integral part of the consolidated financial statements. 101CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Equity attributable to the owners of the parent company Invested unrestricted equity fund * Currency translation differences Non- Note Share capital Other funds Retained earnings Total controlling Equity EUR 1,000 interest total Equity on 1 Jan 2024 48,055 247,256 3,470 -17,752 108,006 389,035 22,389 411,425 Total comprehensive income for the period Profit for the period - - - - 39,654 39,654 3,342 42,997 Other comprehensive income Cash flow hedges 29 - - -4,864 - - -4,864 - -4,864 Actuarial gains/loss from pension obligations 26 - - - - -551 -551 - -551 Currency translation differences 9 - - 7 -3,358 - -3,351 - -3,351 Transactions with owners Share of non-controlling interest related to acquisition of subsidiary 22 - - - - -598 -598 -2,310 -2,908 Distribution of dividend/return of capital 22 - -8,453 - - -8,453 -16,906 -2,133 -19,039 Equity on 31 Dec 2024 48,055 238,803 -1,388 -21,110 138,059 402,418 21,289 423,707 Total comprehensive income for the period Profit for the period - - - - 40,702 40,702 2,864 43,566 Other comprehensive income Cash flow hedges 29 - - 1,069 - - 1,069 - 1,069 Actuarial gains/loss from pension obligations 26 - - - - 598 598 - 598 Currency translation differences 9 - - -2 6,093 - 6,091 - 6,091 Realized change in fair value 22 - - 437 - -437 0 - 0 Transactions with owners Share of non-controlling interest related to acquisition of subsidiary 22 - - - - 100 100 0 100 Share-based remuneration 23 - - - - 469 469 - 469 Distribution of dividend 22 - - - - -19,461 -19,461 -1,345 -20,806 Equity on 31 Dec 2025 48,055 238,803 116 -15,017 160,029 431,986 22,807 454,793 * Includes the value of treasury shares EUR -0.7 million (31.12.2024: EUR -0.9 million) The notes on pages 104-142 are an integral part of the consolidated financial statements. 102CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CONSOLIDATED CASH FLOW STATEMENT EUR 1,000 Note 1 Jan-31 Dec 2025 1 Jan-31 Dec 2024 Cash flow from operating activities Payments received from sales 1,808,167 1,766,920 Payments received from other operating income 4,470 2,826 Payments on operating expenses -1,674,454 -1,654,777 Interest paid and payments on other operational financial expenses 9, 25 -19,331 -25,357 Interest payments received and other financial income 9 7,201 9,706 Direct taxes paid 10 -6,034 -6,879 Total cash flow from operating activities 120,018 92,439 Cash flow from investments Investments in tangible and intangible assets -54,078 -38,731 Proceeds from the sale of tangible and intangible assets 5 1,036 1,919 Acquired operations 32 - -11,396 Sold operations 33 - 694 Increase (-) / decrease (+) in long-term loan receivables 3,169 -2,628 Increase (-) / decrease (+) in other investments -797 -1,228 Dividends received 435 555 Total cash flow from investments -50,235 -50,816 Cash flow from financing activities Drawdown of long-term loans 24 6,000 800 Repayment of long-term loans 24 -33,530 -2,646 Increase in short-term loans * 24 239 21,021 Decrease in short-term loans * 24 - -20,000 Principal elements of lease payments 25 -10,555 -9,534 Acquisition of non-controlling interest 22 - -2,938 Dividends paid / capital repayment 22 -20,806 -19,040 Total cash flow from financing activities 10, 18 -58,653 -32,336 Change in cash and cash equivalents 11,131 9,287 Cash and cash equivalents on 1 Jan 19,911 10,051 Effect of exchange rate changes on cash flows -138 573 Cash and cash equivalents on 31 Dec 21 30,903 19,911 * Withdrawals and repayments of short -term loans include those with a maturity of more than 90 days commercial paper withdrawals and repayments. Withdrawals and repayments of commercial papers with a maturity of 90 days or less have been processed in the financial calculation on a net basis. The notes on pages 104-142 are an integral part of the consolidated financial statements. 103CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Notes to the consolidated financial statements, IFRS Basic corporate information The parent company of Atria Group, Atria Plc, is a public limited liability company established in accordance with the laws of Finland and domiciled in Kuopio, Finland. The company has been listed on Nasdaq Helsinki Ltd. since 1991. Copies of the consolidated financial statements are available online at www.atria.com and at the parent company’s head office at Itikanmäenkatu 3, Seinäjoki, Finland; postal address: P.O. Box 900, 60060 ATRIA, Finland. Atria Plc and its subsidiaries manufacture and market food products, in particular meat products, poultry products, ready meals and food concepts. Atria’s main market area covers Finland, Sweden, Denmark and the Baltic countries. Atria’s subsidiaries are also located in th ese market areas. Atria Group’s reporting segments are Atria Finland, Atria Sweden and Atria Denmark & Estonia. The financial statements were approved for publication by the Board of Directors on 2 March 2026. Accounting policies Basis of preparation The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) adopted in the EU, and in compliance with the applicable IAS and IFRS standards as well as SIC and IFRIC interpretations . The IFRS refer to standards and interpretations adopted for application in the EU in compliance with Regulation (EC No 1606/2002), as referred to in the Finnish Accounting Act and subsequent regulations. The notes to the consolidated financial statements also comply with Finnish accounting and corporate legislation. The consolidated financial statements have been prepared on an acquisition cost basis except for biological assets, financial assets recognised at fair value in other comprehensive income, financial assets and liabilities measured at fair value through pro fit or loss, and derivative financial instruments. From the moment of classification, the assets held for sale are measured at the lower of their balance sheet value and fair value less cost to sell. The financial statement data is presented in thousands of euros, with sums round ed to the nearest thousand. Accounting policies calling for management discretion and key uncertainty factors related to assessments When preparing the financial statements, discretion must be exercised in applying the accounting policies. In addition, the management must make assessments and assumptions that concern the future and affect assets and liabilities, provisions, and income and expenses. The realised values may deviate from the original assessments and assumptions. The Group’s management makes discretionary decisions regarding the choice and application of accounting policies. This particularly affects cases where the valid IFRS norms include alternative recognition, measurement or presentation procedures. Management judgement has been applied in the valuation and classification of assets and financial instruments, in the recognition of deferred tax assets and provisions, and in determining which associates and joint ventures are considered material. The Group management monitors sustainability-related impacts, risks, and opportunities. Atria’s material sustainability topics include climate change (E1), biodiversity and ecosystems (E4), resource use and circular economy (E5), own workforce (S1), consumers and end users (S4), as well as business conduct (G1) and animal welfare (G1). Sustainability considerations guide Atria’s strategic investments, product development, supply chain management, and personnel-related matters. Group management makes assessments and judgment-based decisions on sustainability matters that have an impact on the Group’s operations and financial performance. The assessments are based on the management’s best estimate at the end date of the reporting period. They are affected by previous experiences and assumptions about the future that are deemed most likely at the end of the period and are related to the expe cted developments in the Group’s financial environment. Any changes in the assessments and assumptions are recognised in the accounting period during which the assessment or assumption is adjusted and in all subsequent accounting periods. Intangible assets Goodwill and intangible assets with an indefinite useful life are tested for impairment within the Group. The impairment testing calculation for intangible assets is based on a five -year strategic cash flow forecast, which is reassessed annually taking cha nges in the business environment, sustainability considerations, risks and opportunities, as well as the measures taken and results achieved by Atria into account. With the business areas, Group management evaluates the discount rates, risks and overall reasonableness of the data used in the impairment calculations in the current operating environment. The calculations have been reviewed and approved by the Board of Directors. Further information about impairment testing and sensitivity analyses is provided in Note 15. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Notes to the consolidated financial statements, IFRS Basic corporate information The parent company of Atria Group, Atria Plc, is a public limited liability company established in accordance with the laws of Finland and domiciled in Kuopio, Finland. The company has been listed on Nasdaq Helsinki Ltd. since 1991. Copies of the consolidated financial statements are available online at www.atria.com and at the parent company’s head office at Itikanmäenkatu 3, Seinäjoki, Finland; postal address: P.O. Box 900, 60060 ATRIA, Finland. Atria Plc and its subsidiaries manufacture and market food products, in particular meat products, poultry products, ready meals and food concepts. Atria’s main market area covers Finland, Sweden, Denmark and the Baltic countries. Atria’s subsidiaries are also located in th ese market areas. Atria Group’s reporting segments are Atria Finland, Atria Sweden and Atria Denmark & Estonia. The financial statements were approved for publication by the Board of Directors on 2 March 2026. Accounting policies Basis of preparation The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) adopted in the EU, and in compliance with the applicable IAS and IFRS standards as well as SIC and IFRIC interpretations . The IFRS refer to standards and interpretations adopted for application in the EU in compliance with Regulation (EC No 1606/2002), as referred to in the Finnish Accounting Act and subsequent regulations. The notes to the consolidated financial statements also comply with Finnish accounting and corporate legislation. The consolidated financial statements have been prepared on an acquisition cost basis except for biological assets, financial assets recognised at fair value in other comprehensive income, financial assets and liabilities measured at fair value through pro fit or loss, and derivative financial instruments. From the moment of classification, the assets held for sale are measured at the lower of their balance sheet value and fair value less cost to sell. The financial statement data is presented in thousands of euros, with sums round ed to the nearest thousand. Accounting policies calling for management discretion and key uncertainty factors related to assessments When preparing the financial statements, discretion must be exercised in applying the accounting policies. In addition, the management must make assessments and assumptions that concern the future and affect assets and liabilities, provisions, and income and expenses. The realised values may deviate from the original assessments and assumptions. The Group’s management makes discretionary decisions regarding the choice and application of accounting policies. This particularly affects cases where the valid IFRS norms include alternative recognition, measurement or presentation procedures. Management judgement has been applied in the valuation and classification of assets and financial instruments, in the recognition of deferred tax assets and provisions, and in determining which associates and joint ventures are considered material. The Group management monitors sustainability-related impacts, risks, and opportunities. Atria’s material sustainability topics include climate change (E1), biodiversity and ecosystems (E4), resource use and circular economy (E5), own workforce (S1), consumers and end users (S4), as well as business conduct (G1) and animal welfare (G1). Sustainability considerations guide Atria’s strategic investments, product development, supply chain management, and personnel-related matters. Group management makes assessments and judgment-based decisions on sustainability matters that have an impact on the Group’s operations and financial performance. The assessments are based on the management’s best estimate at the end date of the reporting period. They are affected by previous experiences and assumptions about the future that are deemed most likely at the end of the period and are related to the expe cted developments in the Group’s financial environment. Any changes in the assessments and assumptions are recognised in the accounting period during which the assessment or assumption is adjusted and in all subsequent accounting periods. Intangible assets Goodwill and intangible assets with an indefinite useful life are tested for impairment within the Group. The impairment testing calculation for intangible assets is based on a five -year strategic cash flow forecast, which is reassessed annually taking cha nges in the business environment, sustainability considerations, risks and opportunities, as well as the measures taken and results achieved by Atria into account. With the business areas, Group management evaluates the discount rates, risks and overall reasonableness of the data used in the impairment calculations in the current operating environment. The calculations have been reviewed and approved by the Board of Directors. Further information about impairment testing and sensitivity analyses is provided in Note 15. 104CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Right-of-use assets and lease liabilities Atria leases properties, machinery, and equipment. The lease contracts are either fixed- term or valid until further notice. For leases valid until further notice, the lease term and any extension options are assessed annually on a contract -by-contract basis at predetermined review dates . Trade receivables Atria’s trade receivables from consumer products customers are short-term and do not include significant financial components. Consumer product customers are mainly central wholesale businesses. Some of the trade receivables are sold to finance companies. The sold trade receivables are derecognised on the balance sheet when the finance company has settled the payment for the receivables and when all material risks and benefits related to the ownership have been transferred to the buyer. Trade receivables are initially recogni sed at fair value and subsequently measured at amortised cost, less expected credit losses. Atria applies a practical expedient and calculates the expected credit losses for the entire duration of the receivables based on a predefined provision matrix. Acquired operations In a business combination, the acquired assets and liabilities are measured at their fair values on the acquisition date. In determining fair value, the values of the acquired assets are assessed with reference to both market prices and value in use. Liabilities are also reviewed critically. Changes in accounting policies and disclosures New and amended standards, effective for financial periods beginning on or after 1 January 2025 No new standards have been introduced during the financial year that would have a material impact on the Group’s reported figures. Issued new and revised IFRS accounting standards that are not yet effective By the date of adoption of the financial statements, the Group has not adopted the following new and revised IFRS accounting standards, which have been issued but have yet to become effective or adopted for application in the EU (marked *). • Amendment to IFRS 9 and IFRS 7: Amendments to the Classification and Measurement of Financial Instruments • Amendment to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity • Annual Improvements to IFRS Accounting Standards – Volume 11 • IFRS 18 Presentation and Disclosure in Financial Statements* • IFRS 19 Subsidiaries without Public Accountability: Disclosures* • Amendment to IAS 21 Translation to a Hyperinflationary Presentation Currency* The management is not expecting the adoption of the standards listed above to have a significant effect on the Group’s financial statements in future financial periods, with the exception of the IFRS 18 standard below. IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18, issued in April 2024, replaces IAS 1 Presentation of Financial Statements and, at the same time, introduces new reporting requirements. The same standard also amends other IFRS accounting standards such as IAS 7 Statement of Cash Flows, IAS 8 Acco unting Policies, Changes in Accounting Estimates and Errors, and IAS 33 Earnings per Share. The IFRS 18 standard includes new requirements for presenting: • certain categories and subtotals in the statement of profit or loss • information about the management -defined performance measures (MPM) in the notes to the financial statements. The standard will be effective for annual reporting periods beginning on or after 1 January 2027, with early application permitted. Amendments to IAS 7 and IAS 33, as well as the revised IAS 8 and IFRS 7, become effective when the entity applies IFRS 18. I FRS 18 will be applied retrospectively, subject to certain transitional provisions. Atria’s management anticipates that the application of these amendments will affect the reported EBIT and the presentation of financial income and expenses in the consolidated financial statements in future financial periods. Accounting policies for the consolidated financial statements Subsidiaries The consolidated financial statements include the parent company Atria Plc and all its subsidiaries. Subsidiaries are companies controlled by the Group. The Group controls an entity when the Group is exposed to or entitled to variable returns from its invo lvement with the entity and can affect those returns through its power over the entity. Subsidiaries acquired during the financial year are consolidated from the date the Group has gained control and divested subsidiaries are included until the control ends. Business combinations are treated using the acquisition accounting method. Consideration transferred, and the identifiable acquired assets and assumed liabilities of the acquired business are measured at fair value on the acquisition date. Consideration transferred includes the fair value of an asset or liability arising from a contingent consideration arrangement. The costs of acquisition are charged to the income statement during the period in which they are incurred, and the related services are received. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Right-of-use assets and lease liabilities Atria leases properties, machinery, and equipment. The lease contracts are either fixed- term or valid until further notice. For leases valid until further notice, the lease term and any extension options are assessed annually on a contract -by-contract basis at predetermined review dates . Trade receivables Atria’s trade receivables from consumer products customers are short-term and do not include significant financial components. Consumer product customers are mainly central wholesale businesses. Some of the trade receivables are sold to finance companies. The sold trade receivables are derecognised on the balance sheet when the finance company has settled the payment for the receivables and when all material risks and benefits related to the ownership have been transferred to the buyer. Trade receivables are initially recogni sed at fair value and subsequently measured at amortised cost, less expected credit losses. Atria applies a practical expedient and calculates the expected credit losses for the entire duration of the receivables based on a predefined provision matrix. Acquired operations In a business combination, the acquired assets and liabilities are measured at their fair values on the acquisition date. In determining fair value, the values of the acquired assets are assessed with reference to both market prices and value in use. Liabilities are also reviewed critically. Changes in accounting policies and disclosures New and amended standards, effective for financial periods beginning on or after 1 January 2025 No new standards have been introduced during the financial year that would have a material impact on the Group’s reported figures. Issued new and revised IFRS accounting standards that are not yet effective By the date of adoption of the financial statements, the Group has not adopted the following new and revised IFRS accounting standards, which have been issued but have yet to become effective or adopted for application in the EU (marked *). • Amendment to IFRS 9 and IFRS 7: Amendments to the Classification and Measurement of Financial Instruments • Amendment to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity • Annual Improvements to IFRS Accounting Standards – Volume 11 • IFRS 18 Presentation and Disclosure in Financial Statements* • IFRS 19 Subsidiaries without Public Accountability: Disclosures* • Amendment to IAS 21 Translation to a Hyperinflationary Presentation Currency* The management is not expecting the adoption of the standards listed above to have a significant effect on the Group’s financial statements in future financial periods, with the exception of the IFRS 18 standard below. IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18, issued in April 2024, replaces IAS 1 Presentation of Financial Statements and, at the same time, introduces new reporting requirements. The same standard also amends other IFRS accounting standards such as IAS 7 Statement of Cash Flows, IAS 8 Acco unting Policies, Changes in Accounting Estimates and Errors, and IAS 33 Earnings per Share. The IFRS 18 standard includes new requirements for presenting: • certain categories and subtotals in the statement of profit or loss • information about the management -defined performance measures (MPM) in the notes to the financial statements. The standard will be effective for annual reporting periods beginning on or after 1 January 2027, with early application permitted. Amendments to IAS 7 and IAS 33, as well as the revised IAS 8 and IFRS 7, become effective when the entity applies IFRS 18. I FRS 18 will be applied retrospectively, subject to certain transitional provisions. Atria’s management anticipates that the application of these amendments will affect the reported EBIT and the presentation of financial income and expenses in the consolidated financial statements in future financial periods. Accounting policies for the consolidated financial statements Subsidiaries The consolidated financial statements include the parent company Atria Plc and all its subsidiaries. Subsidiaries are companies controlled by the Group. The Group controls an entity when the Group is exposed to or entitled to variable returns from its invo lvement with the entity and can affect those returns through its power over the entity. Subsidiaries acquired during the financial year are consolidated from the date the Group has gained control and divested subsidiaries are included until the control ends. Business combinations are treated using the acquisition accounting method. Consideration transferred, and the identifiable acquired assets and assumed liabilities of the acquired business are measured at fair value on the acquisition date. Consideration transferred includes the fair value of an asset or liability arising from a contingent consideration arrangement. The costs of acquisition are charged to the income statement during the period in which they are incurred, and the related services are received. 105CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators The net assets and accepted and contingent liabilities acquired in business combinations are measured at fair value at the time of the acquisition. The interest of non -controlling owners in the acquisition target is recognised on an acquisition basis either at fair value or based on their relative share of the identifiable net assets of the acquisition target. Where the consideration transferred with the non -controlling interest and the fair value of the previously held interest exceed the fair value of the acquired net assets, the excess is recorded as goodwill on the balance sheet. If the sum of the considerat ion, the amount of the non-controlling interest and previously held interest, is less than the fair value of the acquired net assets, the difference is recorded in the income statement. All intra-Group transactions, receivables and liabilities , and income and expenses are eliminated. Profits and losses due to intra-Group transactions leading to the recognition of an asset are also eliminated. The accounting policies applied by subsidiaries have been revised to match the Group policies where necessary. The parent company’s changes of ownership of the subsidiaries which do not lead to a loss of control, are treated as equity transactions. When shares are purchased from non -controlling shareholders, the difference between the consideration paid and the bal ance sheet value of the share acquired of the net assets of the subsidiary is recognised in equity, as well as changes in the fair value of put options related to the acquisition of shares. Profit or loss from the sale of shares to non -controlling shareholders is also recognised in equity, as are changes in the fair value of put options. When control or major influence by the Group ceases to exist, any remaining interest is measured at fair value on the date of the loss of control, and the change in balance sheet value is recognised in the income statement. This fair value serves as the original balance sheet value when the remaining interest is later recognised as an associated company, joint venture or financial assets. In addition, the amounts of said entity previously recognised in other comprehensive income are treated as if the Group had directly disposed of the associated assets and liabilities. This may mean that amounts previously recognised as other comprehensive income are reclassified in the income statement. Associated companies and joint arrangements Associated companies are companies in which the Group has considerable influence but no control. This is usually based on share ownership, which yields 20 to 50% of the voting rights. A joint arrangement is an arrangement in which two or more parties have joint control. Investments in joint arrangements are classified as either joint operations or joint ventures, depending on the contractual rights and obligations of each investor. A jo int operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and obligations for the liabilities related to the arrangement. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Atria’s joint arrangements are joint ventures. Investments in associates and joint ventures are consolidated using the equity method. When using the equity method, the investment is initially recognised at acquisition cost, and this amount is increased or decreased to recognise the investor’s share of the subsequent profits or losses of the investee after the time of acquisition. The Group’s investment in associates and joint ventures includes any goodwill identified on the acquisition. If the interest in an associate company is reduced, but significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income is reclassified as profit or loss. The Group’s share of associates’ post -acquisition profits or losses is recognised under operating profit on the income statement. The balance sheet value of the investment is adjusted accordingly. If the Group’s share of the loss of an associate is equal t o or exceeds its interest in the associate, including any other unsecured receivables, the Group will not recognise further losses unless it has a legal or factual obligation to do so or has made payments on behalf of the associate. Foreign currency translation Items included in the financial statements of each Group company are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in euros (EUR), which is the parent company’s functional currency, and the parent company’s and the Group’s presentation currency. Foreign currency transactions are translated using the exchange rates prevailing on the date of the transaction. Foreign currency receivables and liabilities are translated using the exchange rate prevailing on the last day of the reporting period . Exchange differences arising from translation are recognised in the income statement and presented in the operating profit. Exchange gains and losses from forward exchange agreements protecting financial transactions and foreign currency -denominated loans are included in financial income and expenses, excluding exchange rate changes of derivative financial instruments that are qualifying cash flow hedges. These exchange rate differences have been recognised in other comprehensive income. The income statements of Group companies outside the euro area are translated from the region’s operating currency into euros at the average exchange rate for the reporting period , and the balance sheets at the closing exchange rate. Differences resulting from the translation are recognised as part of translation differences in other comprehensive income. The translation differences arising from the elimination of the acquisition costs of subsidiaries outside the euro area and the hedge profits derived from the corresponding net investments are also CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators The net assets and accepted and contingent liabilities acquired in business combinations are measured at fair value at the time of the acquisition. The interest of non -controlling owners in the acquisition target is recognised on an acquisition basis either at fair value or based on their relative share of the identifiable net assets of the acquisition target. Where the consideration transferred with the non -controlling interest and the fair value of the previously held interest exceed the fair value of the acquired net assets, the excess is recorded as goodwill on the balance sheet. If the sum of the considerat ion, the amount of the non-controlling interest and previously held interest, is less than the fair value of the acquired net assets, the difference is recorded in the income statement. All intra-Group transactions, receivables and liabilities , and income and expenses are eliminated. Profits and losses due to intra-Group transactions leading to the recognition of an asset are also eliminated. The accounting policies applied by subsidiaries have been revised to match the Group policies where necessary. The parent company’s changes of ownership of the subsidiaries which do not lead to a loss of control, are treated as equity transactions. When shares are purchased from non -controlling shareholders, the difference between the consideration paid and the bal ance sheet value of the share acquired of the net assets of the subsidiary is recognised in equity, as well as changes in the fair value of put options related to the acquisition of shares. Profit or loss from the sale of shares to non -controlling shareholders is also recognised in equity, as are changes in the fair value of put options. When control or major influence by the Group ceases to exist, any remaining interest is measured at fair value on the date of the loss of control, and the change in balance sheet value is recognised in the income statement. This fair value serves as the original balance sheet value when the remaining interest is later recognised as an associated company, joint venture or financial assets. In addition, the amounts of said entity previously recognised in other comprehensive income are treated as if the Group had directly disposed of the associated assets and liabilities. This may mean that amounts previously recognised as other comprehensive income are reclassified in the income statement. Associated companies and joint arrangements Associated companies are companies in which the Group has considerable influence but no control. This is usually based on share ownership, which yields 20 to 50% of the voting rights. A joint arrangement is an arrangement in which two or more parties have joint control. Investments in joint arrangements are classified as either joint operations or joint ventures, depending on the contractual rights and obligations of each investor. A jo int operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and obligations for the liabilities related to the arrangement. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Atria’s joint arrangements are joint ventures. Investments in associates and joint ventures are consolidated using the equity method. When using the equity method, the investment is initially recognised at acquisition cost, and this amount is increased or decreased to recognise the investor’s share of the subsequent profits or losses of the investee after the time of acquisition. The Group’s investment in associates and joint ventures includes any goodwill identified on the acquisition. If the interest in an associate company is reduced, but significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income is reclassified as profit or loss. The Group’s share of associates’ post -acquisition profits or losses is recognised under operating profit on the income statement. The balance sheet value of the investment is adjusted accordingly. If the Group’s share of the loss of an associate is equal t o or exceeds its interest in the associate, including any other unsecured receivables, the Group will not recognise further losses unless it has a legal or factual obligation to do so or has made payments on behalf of the associate. Foreign currency translation Items included in the financial statements of each Group company are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in euros (EUR), which is the parent company’s functional currency, and the parent company’s and the Group’s presentation currency. Foreign currency transactions are translated using the exchange rates prevailing on the date of the transaction. Foreign currency receivables and liabilities are translated using the exchange rate prevailing on the last day of the reporting period . Exchange differences arising from translation are recognised in the income statement and presented in the operating profit. Exchange gains and losses from forward exchange agreements protecting financial transactions and foreign currency -denominated loans are included in financial income and expenses, excluding exchange rate changes of derivative financial instruments that are qualifying cash flow hedges. These exchange rate differences have been recognised in other comprehensive income. The income statements of Group companies outside the euro area are translated from the region’s operating currency into euros at the average exchange rate for the reporting period , and the balance sheets at the closing exchange rate. Differences resulting from the translation are recognised as part of translation differences in other comprehensive income. The translation differences arising from the elimination of the acquisition costs of subsidiaries outside the euro area and the hedge profits derived from the corresponding net investments are also 106CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators recognised in other comprehensive income. When a foreign operation is partly disposed of or sold, exchange rate differences in equity are recognised in the income statement. Goodwill and fair value adjustments arising on the acquisition of the foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. The exchange differences arising from this are recognised in other comprehe nsive income. Property, plant and equipment Property, plant and equipment are recognised at the cost of purchase or construction less accumulated depreciation and impairment losses. If the tangible fixed asset consists of several parts with different useful lives, each part is treated as a separate asset. The costs arising from replacing the part are capitalised. Other subsequent expenditure is included in the acquisition cost only if it is probable that the future benefit connected to the asset will benefit the Group, and the acquisition cost of the asset can be reliably determined. All other repair and maintenance costs are recognised in the income statement as an incurred expense. Depreciation is calculated on a straight -line basis over the estimated economic and environmentally sustainable useful life as follows: • Buildings 25–50 years • Machinery and equipment 5–30 years • Other tangible assets 5–10 years. No depreciation is carried out on land and water. Depreciation periods for buildings are defined according to the main purpose of use and the probable useful economic life, which is also affected by the building materials. Asset items that cannot be recognised under property, plant and equipment due to their nature or depreciation periods are recognised as other tangible assets. The residual value and useful lives of assets are reviewed annually at the closing of the accounts and, adjusted if necessary so that the balance sheet value is equal to the recoverable amount. The review also takes any changes to the useful life of the asset caused by sustainability issues into account. The depreciation of property, plant and equipment ends when the asset item is classified as available for sale in accordance with IFRS 5 Non -current Assets Held for Sale and Discontinued Operations. Gains and losses on the disposal or transfer of property, plant or equipment are included in other operating income or expenses. Right-of-use assets The Group has leased properties, machinery and equipment. The lease contracts are made for a fixed period or contracts are valid until further notice. The contract period for leases valid until further notice is assessed on a case-by-case basis. The contracts may include options to extend the lease. A right-of-use asset and a corresponding liability is recognised for leases when the leased asset is available for use by the Group. Assets and liabilities arising from leases are initially measured at present value. Right-of-use assets are measured at acquisition cost, which includes the following items: • The original amount of the lease liability (see ‘Lease liabilities’ for more information ) • Lease payments made before the beginning of the contract less any incentives • Initial direct costs, and • Restoration costs Lease payments are discounted using the interest rate implicit in the lease. If this interest rate is unknown, the lessee’s incremental borrowing rate is used. This is the rate that the lessee would have to pay to borrow the necessary funds over a similar term and with a similar security. Right-of-use assets are generally depreciated on a straight -line basis over the asset's useful life or the shorter lease term, also taking the environmentally reasonable useful life into account. If it is reasonably certain that the Group will exercise the purchase option, the useful life will be used as the depreciation period for the asset. The company assesses the impairment of right -of-use assets in accordance with IAS 36 Impairment of Assets. Payments related to short-term leases and leases of low-value assets are recognised as expenses on a straight-line basis. Leases with a term of 12 months or less are considered to be short -term leases. Atria does not apply the IFRS 16 standard to intangibl e assets in accordance with IAS 38. Intangible assets Goodwill Goodwill represents the Group’s share of the difference between the consideration transferred and the identifiable acquired assets and assumed liabilities measured at fair value on the acquisition date. Goodwill is tested annually for impairment. For this purpose, goodwill has been allocated to cash - generating units. The Group’s cash -generating units are classified based on subsidiaries’ operations and location. These are Atria Finland, Atria Sweden, Atria Denmark and Atria Estonia. Goodwill is recognised on the balance sheet at cost less impairment losses. An impairment loss recognised for goodwill is not reversed. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators recognised in other comprehensive income. When a foreign operation is partly disposed of or sold, exchange rate differences in equity are recognised in the income statement. Goodwill and fair value adjustments arising on the acquisition of the foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. The exchange differences arising from this are recognised in other comprehe nsive income. Property, plant and equipment Property, plant and equipment are recognised at the cost of purchase or construction less accumulated depreciation and impairment losses. If the tangible fixed asset consists of several parts with different useful lives, each part is treated as a separate asset. The costs arising from replacing the part are capitalised. Other subsequent expenditure is included in the acquisition cost only if it is probable that the future benefit connected to the asset will benefit the Group, and the acquisition cost of the asset can be reliably determined. All other repair and maintenance costs are recognised in the income statement as an incurred expense. Depreciation is calculated on a straight -line basis over the estimated economic and environmentally sustainable useful life as follows: • Buildings 25–50 years • Machinery and equipment 5–30 years • Other tangible assets 5–10 years. No depreciation is carried out on land and water. Depreciation periods for buildings are defined according to the main purpose of use and the probable useful economic life, which is also affected by the building materials. Asset items that cannot be recognised under property, plant and equipment due to their nature or depreciation periods are recognised as other tangible assets. The residual value and useful lives of assets are reviewed annually at the closing of the accounts and, adjusted if necessary so that the balance sheet value is equal to the recoverable amount. The review also takes any changes to the useful life of the asset caused by sustainability issues into account. The depreciation of property, plant and equipment ends when the asset item is classified as available for sale in accordance with IFRS 5 Non -current Assets Held for Sale and Discontinued Operations. Gains and losses on the disposal or transfer of property, plant or equipment are included in other operating income or expenses. Right-of-use assets The Group has leased properties, machinery and equipment. The lease contracts are made for a fixed period or contracts are valid until further notice. The contract period for leases valid until further notice is assessed on a case-by-case basis. The contracts may include options to extend the lease. A right-of-use asset and a corresponding liability is recognised for leases when the leased asset is available for use by the Group. Assets and liabilities arising from leases are initially measured at present value. Right-of-use assets are measured at acquisition cost, which includes the following items: • The original amount of the lease liability (see ‘Lease liabilities’ for more information ) • Lease payments made before the beginning of the contract less any incentives • Initial direct costs, and • Restoration costs Lease payments are discounted using the interest rate implicit in the lease. If this interest rate is unknown, the lessee’s incremental borrowing rate is used. This is the rate that the lessee would have to pay to borrow the necessary funds over a similar term and with a similar security. Right-of-use assets are generally depreciated on a straight -line basis over the asset's useful life or the shorter lease term, also taking the environmentally reasonable useful life into account. If it is reasonably certain that the Group will exercise the purchase option, the useful life will be used as the depreciation period for the asset. The company assesses the impairment of right -of-use assets in accordance with IAS 36 Impairment of Assets. Payments related to short-term leases and leases of low-value assets are recognised as expenses on a straight-line basis. Leases with a term of 12 months or less are considered to be short -term leases. Atria does not apply the IFRS 16 standard to intangibl e assets in accordance with IAS 38. Intangible assets Goodwill Goodwill represents the Group’s share of the difference between the consideration transferred and the identifiable acquired assets and assumed liabilities measured at fair value on the acquisition date. Goodwill is tested annually for impairment. For this purpose, goodwill has been allocated to cash - generating units. The Group’s cash -generating units are classified based on subsidiaries’ operations and location. These are Atria Finland, Atria Sweden, Atria Denmark and Atria Estonia. Goodwill is recognised on the balance sheet at cost less impairment losses. An impairment loss recognised for goodwill is not reversed. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators The net assets and accepted and contingent liabilities acquired in business combinations are measured at fair value at the time of the acquisition. The interest of non -controlling owners in the acquisition target is recognised on an acquisition basis either at fair value or based on their relative share of the identifiable net assets of the acquisition target. Where the consideration transferred with the non -controlling interest and the fair value of the previously held interest exceed the fair value of the acquired net assets, the excess is recorded as goodwill on the balance sheet. If the sum of the considerat ion, the amount of the non-controlling interest and previously held interest, is less than the fair value of the acquired net assets, the difference is recorded in the income statement. All intra-Group transactions, receivables and liabilities , and income and expenses are eliminated. Profits and losses due to intra-Group transactions leading to the recognition of an asset are also eliminated. The accounting policies applied by subsidiaries have been revised to match the Group policies where necessary. The parent company’s changes of ownership of the subsidiaries which do not lead to a loss of control, are treated as equity transactions. When shares are purchased from non -controlling shareholders, the difference between the consideration paid and the bal ance sheet value of the share acquired of the net assets of the subsidiary is recognised in equity, as well as changes in the fair value of put options related to the acquisition of shares. Profit or loss from the sale of shares to non -controlling shareholders is also recognised in equity, as are changes in the fair value of put options. When control or major influence by the Group ceases to exist, any remaining interest is measured at fair value on the date of the loss of control, and the change in balance sheet value is recognised in the income statement. This fair value serves as the original balance sheet value when the remaining interest is later recognised as an associated company, joint venture or financial assets. In addition, the amounts of said entity previously recognised in other comprehensive income are treated as if the Group had directly disposed of the associated assets and liabilities. This may mean that amounts previously recognised as other comprehensive income are reclassified in the income statement. Associated companies and joint arrangements Associated companies are companies in which the Group has considerable influence but no control. This is usually based on share ownership, which yields 20 to 50% of the voting rights. A joint arrangement is an arrangement in which two or more parties have joint control. Investments in joint arrangements are classified as either joint operations or joint ventures, depending on the contractual rights and obligations of each investor. A jo int operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and obligations for the liabilities related to the arrangement. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Atria’s joint arrangements are joint ventures. Investments in associates and joint ventures are consolidated using the equity method. When using the equity method, the investment is initially recognised at acquisition cost, and this amount is increased or decreased to recognise the investor’s share of the subsequent profits or losses of the investee after the time of acquisition. The Group’s investment in associates and joint ventures includes any goodwill identified on the acquisition. If the interest in an associate company is reduced, but significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income is reclassified as profit or loss. The Group’s share of associates’ post -acquisition profits or losses is recognised under operating profit on the income statement. The balance sheet value of the investment is adjusted accordingly. If the Group’s share of the loss of an associate is equal t o or exceeds its interest in the associate, including any other unsecured receivables, the Group will not recognise further losses unless it has a legal or factual obligation to do so or has made payments on behalf of the associate. Foreign currency translation Items included in the financial statements of each Group company are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in euros (EUR), which is the parent company’s functional currency, and the pa rent company’s and the Group’s presentation currency. Foreign currency transactions are translated using the exchange rates prevailing on the date of the transaction. Foreign currency receivables and liabilities are translated using the exchange rate prevailing on the last day of the reporting period . Exchange differences arising from translation are recognised in the income statement and presented in the operating profit. Exchange gains and losses from forward exchange agreements protecting financial transactions and foreign currency -denominated loans are included in financial income and expenses, excluding exchange rate changes of derivative financial instruments that are qualifying cash flow hedges. These exchange rate differences have been recognised in other comprehensive income. The income statements of Group companies outside the euro area are translated from the region’s operating currency into euros at the average exchange rate for the reporting period , and the balance sheets at the closing exchange rate. Differences resulting from the translation are recognised as part of translation differences in other comprehensive income. The translation differences arising from the elimination of the acquisition costs of subsidiaries outside the euro area and the hedge profits derived from the corresponding net investments are also 107CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Other intangible assets An Intangible asset is initially capitalised on the balance sheet at cost if the cost can be measured reliably and it is probable that the company will receive a future economic benefit from the asset. Intangible assets with a limited useful life are amortised on a straight -line basis over their estimated useful lives. Intangible assets with indefinite useful lives are not amortised but are tested annually for impairment. The depreciation periods are as follows: • Customer and supplier relationships 3-8 years • Trademarks 5-20 years • Other intangible assets* 5-10 years * Includes software and subscription fees, among other items . Impairment of non-current assets On each balance sheet date, the Group reviews non -current assets for any indications of impairment , or if its use is not environmentally reasonable. If there are such indications, the amount recoverable from the asset is estimated. The amount of cash recoverable from goodwill and intangible assets with indefinite useful lives is assessed annually and whenever there are indications of impairment. The recoverable amount is the higher of the present value of the future cash flows (value in use) and the fair value of the asset less costs of disposal. If the recoverable amount cannot be assessed per item, the impairment need is observed in the cash-flow-generating units – that is, at the lowest unit level that is mainly independent of other units and at which cash flows can be distinguished from other cash flows. Impairment loss is recognised if the balance sheet value of the asset is higher than the recoverable amount. Impairment loss is recognised immediately in the income statement. If the impairment loss concerns a cash-generating unit, it is first allocated to reduce the goodwill and then to reduce the other assets of the unit pro rata. The useful life of the depreciated asset is re -evaluated in connection with the recognition of an impairment loss. An impairment loss recognised for an asset other than goodwill is reversed if there has been a change in the estimates used to determine the amount recoverable from the asset. However, the impairment loss may not be reversed in excess of what the asset’s balance sheet value would be without the recognition of the imp airment loss. An impairment loss recognised for goodwill is never reversed. Inventories Inventories are measured at cost or probable net realisable value, whichever is lower. The acquisition cost is determined using the average price method. The acquisition cost for finished and unfinished products consists of raw materials, direct labour cos ts, other direct costs, and the appropriate share of manufacturing-related variable overheads and fixed overheads at a normal level of operations. The net realisable value is the estimated selling price in the ordinary course of business, less the estimated selling expenses. Biological assets The Group’s biological assets are living animals. They are measured at fair value less estimated sales - related expenses. Productive animals are included in tangible assets , and other animals are included in inventories. The fair value of productive animals has been measured at cost less an expense corresponding to a reduction of value in use caused by ageing. There is no available market price for productive animals. The fair value of slaughter animals is equal to their m arket price, which is based on the company’s slaughter animal procurement/sales. Financial assets Classification In accordance with IFRS 9 Financial Instruments, the Group’s financial assets are classified in the following categories: financial assets at amortised cost ; financial assets at fair value through other comprehensive income; and financial assets at fair value through profit or loss. The classification is based on business models used for the management of the financial assets and on the contractual cash flows of the financial assets. The purchases and sales of financial assets are recognised on the transaction date. Financial assets are classified as non-current assets when they fall due more than 12 months from the closing date. If it intended to keep the financial assets for less than 12 months, they are classified as current assets. The Group derecognises financial assets when it has lost its right to receive the cash flows, or when it has substantially transferred the risks and rewards of ownership to an external party. Financial assets recognised at amortised cost and fair value recognised in other comprehensive income Trade receivables, loan receivables and other receivables recognised at amortised cost are recognised less expected impairment loss. Trade receivables recognised at fair value in other comprehensive income are recognised at fair value. Changes in fair valu e are recognised in other comprehensive income, excluding impairment losses, which are recognised through profit or loss. Non -current trade receivables and interest-bearing loan receivables are primarily the payment time provided to secure the supply of meat raw material and loans to primary production customers. These items are subject to the general impairment model. If there is no significant increase in credit risk, the estimated amount of credit losses is based on the expected credit losses of 12 months and, in other cases, on credit losses expected for the entire lifetime. Atria’s trade receivables from consumer product customers are short- term and do not include significant financial components. These trade receivables are subject to a CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Other intangible assets An Intangible asset is initially capitalised on the balance sheet at cost if the cost can be measured reliably and it is probable that the company will receive a future economic benefit from the asset. Intangible assets with a limited useful life are amortised on a straight -line basis over their estimated useful lives. Intangible assets with indefinite useful lives are not amortised but are tested annually for impairment. The depreciation periods are as follows: • Customer and supplier relationships 3-8 years • Trademarks 5-20 years • Other intangible assets* 5-10 years * Includes software and subscription fees, among other items . Impairment of non-current assets On each balance sheet date, the Group reviews non -current assets for any indications of impairment , or if its use is not environmentally reasonable. If there are such indications, the amount recoverable from the asset is estimated. The amount of cash recoverable from goodwill and intangible assets with indefinite useful lives is assessed annually and whenever there are indications of impairment. The recoverable amount is the higher of the present value of the future cash flows (value in use) and the fair value of the asset less costs of disposal. If the recoverable amount cannot be assessed per item, the impairment need is observed in the cash-flow-generating units – that is, at the lowest unit level that is mainly independent of other units and at which cash flows can be distinguished from other cash flows. Impairment loss is recognised if the balance sheet value of the asset is higher than the recoverable amount. Impairment loss is recognised immediately in the income statement. If the impairment loss concerns a cash-generating unit, it is first allocated to reduce the goodwill and then to reduce the other assets of the unit pro rata. The useful life of the depreciated asset is re -evaluated in connection with the recognition of an impairment loss. An impairment loss recognised for an asset other than goodwill is reversed if there has been a change in the estimates used to determine the amount recoverable from the asset. However, the impairment loss may not be reversed in excess of what the asset’s balance sheet value would be without the recognition of the imp airment loss. An impairment loss recognised for goodwill is never reversed. Inventories Inventories are measured at cost or probable net realisable value, whichever is lower. The acquisition cost is determined using the average price method. The acquisition cost for finished and unfinished products consists of raw materials, direct labour cos ts, other direct costs, and the appropriate share of manufacturing-related variable overheads and fixed overheads at a normal level of operations. The net realisable value is the estimated selling price in the ordinary course of business, less the estimated selling expenses. Biological assets The Group’s biological assets are living animals. They are measured at fair value less estimated sales - related expenses. Productive animals are included in tangible assets , and other animals are included in inventories. The fair value of productive animals has been measured at cost less an expense corresponding to a reduction of value in use caused by ageing. There is no available market price for productive animals. The fair value of slaughter animals is equal to their m arket price, which is based on the company’s slaughter animal procurement/sales. Financial assets Classification In accordance with IFRS 9 Financial Instruments, the Group’s financial assets are classified in the following categories: financial assets at amortised cost ; financial assets at fair value through other comprehensive income; and financial assets at fair value through profit or loss. The classification is based on business models used for the management of the financial assets and on the contractual cash flows of the financial assets. The purchases and sales of financial assets are recognised on the transaction date. Financial assets are classified as non-current assets when they fall due more than 12 months from the closing date. If it intended to keep the financial assets for less than 12 months, they are classified as current assets. The Group derecognises financial assets when it has lost its right to receive the cash flows, or when it has substantially transferred the risks and rewards of ownership to an external party. Financial assets recognised at amortised cost and fair value recognised in other comprehensive income Trade receivables, loan receivables and other receivables recognised at amortised cost are recognised less expected impairment loss. Trade receivables recognised at fair value in other comprehensive income are recognised at fair value. Changes in fair valu e are recognised in other comprehensive income, excluding impairment losses, which are recognised through profit or loss. Non -current trade receivables and interest-bearing loan receivables are primarily the payment time provided to secure the supply of meat raw material and loans to primary production customers. These items are subject to the general impairment model. If there is no significant increase in credit risk, the estimated amount of credit losses is based on the expected credit losses of 12 months and, in other cases, on credit losses expected for the entire lifetime. Atria’s trade receivables from consumer product customers are short- term and do not include significant financial components. These trade receivables are subject to a 108CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators simplified method in which the estimated amount of credit losses is based on the expected credit losses over the receivables’ lifetime. The Group sells some of its trade receivables to finance companies. Sold trade receivables are derecognised from the Group's balance sheet when the finance company has paid for the receivables and when all significant risks and rewards of ownership have been transferred to the buyer. Equity investments recognised at fair value through other comprehensive income The ‘other financial assets’ account includes equity investments in other companies (both listed and unlisted shares). The shares are not held for trading. In connection with the original recognition, the Group has made an irreversible selection of their i nclusion in this group. Listed shares are recognised at fair value, which is based on their stock market price. Unlisted shares are recognised through valuation methods, or at acquisition price if it essentially corresponds to the fair value. When the shares are disposed of, the balance included in other comprehensive income is reclassified in retained earnings and is not recognised through profit or loss. Financial assets at fair value through profit or loss Derivatives not subject to hedge accounting are recognised at fair value through profit or loss. Derivatives are initially recognised on the balance sheet at acquisition price, which is equal to their fair value, and later at the fair value of the end date of the review period. Both unrealised and realised profit or loss attributable to changes in the fair value are recognised through profit or loss during the period in which they occur. Cash and cash equivalents consist of cash, bank deposits withdrawable on demand and other cash. Credit facilities related to Group accounts are included in non -current financial liabilities. Financial liabilities The Group’s loans are classified either in financial liabilities recognised at amortised cost or in financial liabilities recognised at fair value through profit or loss. Financial liabilities are classified as current unless the Group has an absolute righ t to postpone the payment of the debt to a date at least 12 months from the end date of the review period. Financial liabilities (or parts thereof) are derecognised on the balance sheet only when the debt no longer exists – that is, when the obligation spe cified in the contract has been fulfilled, revoked or has expired. Financial liabilities recognised at amortised cost Loans taken out by the Group are included in financial liabilities and recognised at amortised cost. They are initially recognised at fair value, using the effective interest rate method. Following the initial recognition, loans are recognised at amortised cost. Interest on loans is amortised over the loan’s maturity period through profit or loss, using the effective interest rate method. Financial liabilities recognised at fair value through profit or loss Financial liabilities recognised at fair value through profit or loss include derivatives that do not meet the criteria for hedge accounting. Both unrealised and realised profit or loss attributable to changes in the fair value of derivatives are recognise d through profit or loss during the period in which they occur. Lease liabilities The Group has leased properties, machinery and equipment. When a contract is established, the Group determines whether the contract is a lease contract or includes a lease contract. A lease is a contract or part of a contract that conveys the right to use the underlying asset for a period in exchange for consideration. Lease contracts are made for a fixed period or are valid until further notice. The contract period for leases valid until further notice is assessed on a case -by-case basis. The contracts may include options to extend the lease. A right-of-use asset and a corresponding liability is recognised for leases when the leased asset is available for use by the Group. Liabilities arising from leases are initially measured at present value. Lease liabilities include the net fair value of the following lease payments: • Fixed payments • Variable payments that are based on an index or price level and that are initially measured using the index or price on the contract date • Amounts that the Group is expected to pay based on residual value guarantees • The execution price of a purchase option if it is reasonably certain that the Group will exercise the option • Payments arising from the premature termination of a lease if the exercise of this option has been considered in the lease period • Lease payments based on options to extend a lease if it is reasonably certain these options will be exercised. Lease payments are discounted using the interest rate implicit in the lease. If this interest rate is unknown, the lessee’s incremental borrowing rate is used. This is the rate of interest that the lessee would have to pay to borrow the funds necessary for an asset of a similar value to the right -of-use asset over a similar term and with a similar security in a similar economic environment. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators simplified method in which the estimated amount of credit losses is based on the expected credit losses over the receivables’ lifetime. The Group sells some of its trade receivables to finance companies. Sold trade receivables are derecognised from the Group's balance sheet when the finance company has paid for the receivables and when all significant risks and rewards of ownership have been transferred to the buyer. Equity investments recognised at fair value through other comprehensive income The ‘other financial assets’ account includes equity investments in other companies (both listed and unlisted shares). The shares are not held for trading. In connection with the original recognition, the Group has made an irreversible selection of their i nclusion in this group. Listed shares are recognised at fair value, which is based on their stock market price. Unlisted shares are recognised through valuation methods, or at acquisition price if it essentially corresponds to the fair value. When the shares are disposed of, the balance included in other comprehensive income is reclassified in retained earnings and is not recognised through profit or loss. Financial assets at fair value through profit or loss Derivatives not subject to hedge accounting are recognised at fair value through profit or loss. Derivatives are initially recognised on the balance sheet at acquisition price, which is equal to their fair value, and later at the fair value of the end date of the review period. Both unrealised and realised profit or loss attributable to changes in the fair value are recognised through profit or loss during the period in which they occur. Cash and cash equivalents consist of cash, bank deposits withdrawable on demand and other cash. Credit facilities related to Group accounts are included in non -current financial liabilities. Financial liabilities The Group’s loans are classified either in financial liabilities recognised at amortised cost or in financial liabilities recognised at fair value through profit or loss. Financial liabilities are classified as current unless the Group has an absolute righ t to postpone the payment of the debt to a date at least 12 months from the end date of the review period. Financial liabilities (or parts thereof) are derecognised on the balance sheet only when the debt no longer exists – that is, when the obligation spe cified in the contract has been fulfilled, revoked or has expired. Financial liabilities recognised at amortised cost Loans taken out by the Group are included in financial liabilities and recognised at amortised cost. They are initially recognised at fair value, using the effective interest rate method. Following the initial recognition, loans are recognised at amortised cost. Interest on loans is amortised over the loan’s maturity period through profit or loss, using the effective interest rate method. Financial liabilities recognised at fair value through profit or loss Financial liabilities recognised at fair value through profit or loss include derivatives that do not meet the criteria for hedge accounting. Both unrealised and realised profit or loss attributable to changes in the fair value of derivatives are recognise d through profit or loss during the period in which they occur. Lease liabilities The Group has leased properties, machinery and equipment. When a contract is established, the Group determines whether the contract is a lease contract or includes a lease contract. A lease is a contract or part of a contract that conveys the right to use the underlying asset for a period in exchange for consideration. Lease contracts are made for a fixed period or are valid until further notice. The contract period for leases valid until further notice is assessed on a case -by-case basis. The contracts may include options to extend the lease. A right-of-use asset and a corresponding liability is recognised for leases when the leased asset is available for use by the Group. Liabilities arising from leases are initially measured at present value. Lease liabilities include the net fair value of the following lease payments: • Fixed payments • Variable payments that are based on an index or price level and that are initially measured using the index or price on the contract date • Amounts that the Group is expected to pay based on residual value guarantees • The execution price of a purchase option if it is reasonably certain that the Group will exercise the option • Payments arising from the premature termination of a lease if the exercise of this option has been considered in the lease period • Lease payments based on options to extend a lease if it is reasonably certain these options will be exercised. Lease payments are discounted using the interest rate implicit in the lease. If this interest rate is unknown, the lessee’s incremental borrowing rate is used. This is the rate of interest that the lessee would have to pay to borrow the funds necessary for an asset of a similar value to the right -of-use asset over a similar term and with a similar security in a similar economic environment. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Other intangible assets An Intangible asset is initially capitalised on the balance sheet at cost if the cost can be measured reliably and it is probable that the company will receive a future economic benefit from the asset. Intangible assets with a limited useful life are amortised on a straight -line basis over their estimated useful lives. Intangible assets with indefinite useful lives are not amortised but are tested annually for impairment. The depreciation periods are as follows: • Customer and supplier relationships 3-8 years • Trademarks 5-20 years • Other intangible assets* 5-10 years * Includes software and subscription fees, among other items . Impairment of non-current assets On each balance sheet date, the Group reviews non -current assets for any indications of impairment , or if its use is not environmentally reasonable. If there are such indications, the amount recoverable from the asset is estimated. The amount of cash recoverable from goodwill and intangible assets with indefinite useful lives is assessed annually and whenever there are indications of impairment. The recoverable amount is the higher of the present value of the future cash flows (value in use) and the fair value of the asset less costs of disposal. If the recoverable amount cannot be assessed per item, the impairment need is observed in the cash-flow-generating units – that is, at the lowest unit level that is mainly independent of other units and at which cash flows can be distinguished from other cash flows. Impairment loss is recognised if the balance sheet value of the asset is higher than the recoverable amount. Impairment loss is recognised immediately in the income statement. If the impairment loss concerns a cash-generating unit, it is first allocated to reduce the goodwill and then to reduce the other assets of the unit pro rata. The useful life of the depreciated asset is re -evaluated in connection with the recognition of an impairment loss. An impairment loss recognised for an asset other than goodwill is reversed if there has been a change in the estimates used to determine the amount recoverable from the asset. However, the impairment loss may not be reversed in excess of what the asset’s balance sheet value would be without the recognition of the imp airment loss. An impairment loss recognised for goodwill is never reversed. Inventories Inventories are measured at cost or probable net realisable value, whichever is lower. The acquisition cost is determined using the average price method. The acquisition cost for finished and unfinished products consists of raw materials, direct labour cos ts, other direct costs, and the appropriate share of manufacturing-related variable overheads and fixed overheads at a normal level of operations. The net realisable value is the estimated selling price in the ordinary course of business, less the estimated selling expenses. Biological assets The Group’s biological assets are living animals. They are measured at fair value less estimated sales - related expenses. Productive animals are included in tangible assets , and other animals are included in inventories. The fair value of productive animals has been measured at cost less an expense corresponding to a reduction of value in use caused by ageing. There is no available market price for productive animals. The fair value of slaughter animals is equal to their m arket price, which is based on the company’s slaughter animal procurement/sales. Financial assets Classification In accordance with IFRS 9 Financial Instruments, the Group’s financial assets are classified in the following categories: financial assets at amortised cost ; financial assets at fair value through other comprehensive income; and financial assets at fair value through profit or loss. The classification is based on business models used for the management of the financial assets and on the contractual cash flows of the financial assets. The purchases and sales of financial assets are recognised on the transaction date. Financial assets are classified as non-current assets when they fall due more than 12 months from the closing date. If it intended to keep the financial assets for less than 12 months, they are classified as current assets. The Group derecognises financial assets when it has lost its right to receive the cash flows, or when it has substantially transferred the risks and rewards of ownership to an external party. Financial assets recognised at amortised cost and fair value recognised in other comprehensive income Trade receivables, loan receivables and other receivables recognised at amortised cost are recognised less expected impairment loss. Trade receivables recognised at fair value in other comprehensive income are recognised at fair value. Changes in fair valu e are recognised in other comprehensive income, excluding impairment losses, which are recognised through profit or loss. Non -current trade receivables and interest-bearing loan receivables are primarily the payment time provided to secure the supply of meat raw material and loans to primary production customers. These items are subject to the general impairment model. If there is no significant increase in credit risk, the estimated amount of credit losses is based on the expected credit losses of 12 months and, in other cases, on credit losses expected for the entire lifetime. Atria’s trade receivables from consumer product customers are short- term and do not include significant financial components. These trade receivables are subject to a 109CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators To determine the incremental borrowing rate, whenever possible, the Group uses, financing that it has recently been provided by an external party, adjusted for changes in financial circumstances that have occurred since the financing was granted. Any changes to rents and contractual rent increases are recogni sed in the lease liability when they occur. When index-based or price-based rent changes occur, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments to be made are allocated to equity and financial expenses. Financial expenses are recognised through profit or loss over the lease period so that the interest rate for the remaining liabilities remains the same for each reporting period. Payments related to short-term leases and leases of low-value assets are recognised as expenses on a straight-line basis. Leases with a term of 12 months or less are considered to be short -term leases. Atria does not apply the IFRS 16 standard to leases of intangible assets that are in accordance with IAS 38. Hedge accounting Derivative contracts are initially recognised at fair value on the contract date and are subsequently remeasured at fair value at the end of each reporting period. The recognition of changes in the fair value of derivatives depends on whether the derivativ e instrument qualifies for hedge accounting and if so, on the hedged item. Hedge accounting is applied to derivatives that are de terminated to hedge an interest rate, foreign exchange rate or electricity price risk related to a recogni sed asset or liability, or a highly probable forecast transaction (cash flow hedge). When a derivative is subject to hedge accounting, the Group documents the relationship between each hedging instrument and the hedged asset, as well as the risk management objective and the strategy applied to it, at the beginning of the hedging arrangemen t. Through this process, the hedging instrument is connected to the assets and liabilities or the forecast transactions related to the instrument. Risk management objectives and strategies for undertaking various hedge transactions are also documented. The Group documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedge transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. The full fair value of a hedging derivative is classified as a non -current asset or liability when the maturity of the hedged item is more than 12 months and as a current asset or liability when the remaining maturity of the hedged item is 12 months or les s. Derivatives held for trading are classified as current assets or liabilities. Valuation principles The fair value of forward exchange agreements is calculated by applying the forward rate on the balance sheet date. The fair value of interest rate swaps is calculated by discounting the future cash flows using interest rate curves for the currencies in qu estion. Electricity derivatives are measured at fair value using the market prices on the balance sheet date. Cash flow hedge The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in other comprehensive income and accumulated in equity. The gain or loss related to the ineffective portion is recognised i mmediately in the income statement under the appropriate item. Gains and losses accumulated in equity are reclassified in the income statement in the periods when the hedged item affects profit or loss (for example, when the forecast purchase that is hedged takes place). However, when the forecast transaction that is hedged results in the recognition of a non-financial asset (for example, inventories or fixed assets), the gains and losses previously deferred in equity are transferred from equity and include d in the initial acquisition cost of the asset. The deferred amounts are ultimately recognised in costs of goods sold in the case of inventories, or in depreciation in the case of fixed assets. When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at the time remains in equity and is recognised in the income statement only when the forecast transaction occurs. When a forecast transaction is no longer ex pected to occur, the cumulative gain or loss that was reported in equity is immediately transferred to the income statement under the appropriate item. Assets classified as held for sale Non-current assets are classified as held for sale if their balance sheet value is to be recovered through a sale transaction rather than through continuing use. This condition ha s been met only when the sale is highly probable, and the asset is available for immediate sale in its present condition and is subject only to terms that are usual and customary. Furthermore, management must be committed to the sale, which should be expected to occur within one year of the classification. Immediately before being classified as held for sale, these assets are measured in accordance with the applicable IFRS standards. Thereafter, the assets are measured at the lower of their balance sheet value and fair value less cost to sell. These assets a re no longer depreciated after the classification. Equity Ordinary shares are presented as share capital. Expenses related to the issue or acquisition of equity instruments are presented as a deductible item under equity. If a Group company acquires shares in the company, the consideration paid for them and the expenses arising directly from the acquisition, taking the tax effect into account, are deducted from the CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators To determine the incremental borrowing rate, whenever possible, the Group uses, financing that it has recently been provided by an external party, adjusted for changes in financial circumstances that have occurred since the financing was granted. Any changes to rents and contractual rent increases are recogni sed in the lease liability when they occur. When index-based or price-based rent changes occur, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments to be made are allocated to equity and financial expenses. Financial expenses are recognised through profit or loss over the lease period so that the interest rate for the remaining liabilities remains the same for each reporting period. Payments related to short-term leases and leases of low-value assets are recognised as expenses on a straight-line basis. Leases with a term of 12 months or less are considered to be short -term leases. Atria does not apply the IFRS 16 standard to leases of intangible assets that are in accordance with IAS 38. Hedge accounting Derivative contracts are initially recognised at fair value on the contract date and are subsequently remeasured at fair value at the end of each reporting period. The recognition of changes in the fair value of derivatives depends on whether the derivativ e instrument qualifies for hedge accounting and if so, on the hedged item. Hedge accounting is applied to derivatives that are de terminated to hedge an interest rate, foreign exchange rate or electricity price risk related to a recogni sed asset or liability, or a highly probable forecast transaction (cash flow hedge). When a derivative is subject to hedge accounting, the Group documents the relationship between each hedging instrument and the hedged asset, as well as the risk management objective and the strategy applied to it, at the beginning of the hedging arrangemen t. Through this process, the hedging instrument is connected to the assets and liabilities or the forecast transactions related to the instrument. Risk management objectives and strategies for undertaking various hedge transactions are also documented. The Group documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedge transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. The full fair value of a hedging derivative is classified as a non -current asset or liability when the maturity of the hedged item is more than 12 months and as a current asset or liability when the remaining maturity of the hedged item is 12 months or les s. Derivatives held for trading are classified as current assets or liabilities. Valuation principles The fair value of forward exchange agreements is calculated by applying the forward rate on the balance sheet date. The fair value of interest rate swaps is calculated by discounting the future cash flows using interest rate curves for the currencies in qu estion. Electricity derivatives are measured at fair value using the market prices on the balance sheet date. Cash flow hedge The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in other comprehensive income and accumulated in equity. The gain or loss related to the ineffective portion is recognised i mmediately in the income statement under the appropriate item. Gains and losses accumulated in equity are reclassified in the income statement in the periods when the hedged item affects profit or loss (for example, when the forecast purchase that is hedged takes place). However, when the forecast transaction that is hedged results in the recognition of a non-financial asset (for example, inventories or fixed assets), the gains and losses previously deferred in equity are transferred from equity and include d in the initial acquisition cost of the asset. The deferred amounts are ultimately recognised in costs of goods sold in the case of inventories, or in depreciation in the case of fixed assets. When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at the time remains in equity and is recognised in the income statement only when the forecast transaction occurs. When a forecast transaction is no longer ex pected to occur, the cumulative gain or loss that was reported in equity is immediately transferred to the income statement under the appropriate item. Assets classified as held for sale Non-current assets are classified as held for sale if their balance sheet value is to be recovered through a sale transaction rather than through continuing use. This condition ha s been met only when the sale is highly probable, and the asset is available for immediate sale in its present condition and is subject only to terms that are usual and customary. Furthermore, management must be committed to the sale, which should be expected to occur within one year of the classification. Immediately before being classified as held for sale, these assets are measured in accordance with the applicable IFRS standards. Thereafter, the assets are measured at the lower of their balance sheet value and fair value less cost to sell. These assets a re no longer depreciated after the classification. Equity Ordinary shares are presented as share capital. Expenses related to the issue or acquisition of equity instruments are presented as a deductible item under equity. If a Group company acquires shares in the company, the consideration paid for them and the expenses arising directly from the acquisition, taking the tax effect into account, are deducted from the 110CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators shareholders’ equity until the shares are either cancelled or reissued. If the shares are reissued, the consideration received for them less transaction costs directly attributable to the shares is included in the shareholders’ equity, taking the tax effect into account. Provisions A provision is entered when the Group has a legal or constructive obligation as a result of a past event, and it is probable that an outflow of resources will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are measured at the present value of the expenses required to cover the obligation. The amounts of provisions are reviewed on each balance sheet date and adjusted to correspond to the best estimate at that time. Changes in provisions are recogni sed in the income statement in the same item in which the original provision was entered. Revenue recognition Atria sells food products, animal feed, traded animals and services. Sales revenue is recognised based on customer contracts. The contracts specify the contractual obligations and the prices applicable to them. Atria does not have consolidated contractual obligations or obligations to be met over time, advance payments or warranty obligations. Atria recognises both the revenue and the receivable when control over the goods or service is transferred to the customer. Delivery usually takes place in Finland within 24 hours, and control and risks are transferred in connection with delivery. In expor t deals, the company estimates the time when control transfers to the customer specific to each delivery in accordance with the terms and time of delivery. Sales prices are not adjusted for the time value of money, because the period between the handover of the products and the payment made by the customer is less than a year. Atria always allocates discounts, as well as any refunds following the sale, to the month of delivery, taking the customers’ full-year volume into account. In the recognition of sales revenue, Atria has identified two customer groups: consumer product customers and primary production customers. Atria presents sales divided into these two revenue streams as part of the segment information in note 1 and the division of receivables in note 20. Atria considers these two customer groups to be the most material in terms of understanding the nature of sales revenue and cash flow arising from customer contracts. Most contracts with customers concern the sale of consumer products. Consumer product customers are primarily central wholesale businesses. In addition, Atria sells traded animals and animal feed to primary production customers. Employee benefits Pension obligations The Group companies have various local pension arrangements in their countries of operation. Pension arrangements are classified as either defined contribution plans or defined benefit pension plans. In defined contribution plans, the Group makes fixed payments to a separate unit. The Group has no legal or factual obligation to make additional payments if the recipient of the payments cannot pay the pension benefits in question. All plans that do not fulfil these conditions are defined benefit pension plans. Payments made into defined contribution plans are recognised in the income statement in the reporting period to which they apply. The Group’s pension plans are mainly defined contribution plans. In defined benefit plans the company still has an ongoing obl igation for the plan even after the payment for the period has been made. For arrangements classified as defined benefit plans, actuarial estimates acquired on an annual basis serve as the grounds for recognising an expense and liability or asset in the financial statements. Actuarial gains or losses are recognised as equity refunds or a charge in other comprehensive income in the financial period in which they occur. Share-based payments The Group has an incentive programme for the management where the payments are made in part as company shares and in part as cash. The remuneration awarded under the programme is measured at fair value at the time of awarding and recognised in the income s tatement as an expense arising from employee benefits spread over the earning and engagement period. The amount of money paid in the arrangement is remeasured using the review period’s closing share price and evenly recognised in the income statement as an expense from the day of awarding until the money is transferred to the recipient. The final amount of the expense depends on the extent to which the conditions of the incentive programme are met. Research and development expenses Research expenditure is recognised as an expense in the income statement. Expenditure related to individual projects is capitalised on the balance sheet when there is sufficient certainty that the product in question is technically viable and that the product is likely to generate future economic benefits. Capitalised development expenditure is recognised in project -specific expenses over the useful life of the product. The asset is amortised from the time it is ready for use. The Group has no capitalised development expenses. Government grants Grants received as compensation for expenses are recognised in the income statement, while expenses connected with the grant are entered as costs. Such grants are recognised under other operating income. The nature of the grants varies between countries, a nd the grants are only recognised after all the terms and conditions of the grant have been met, so the company does not have a repayment obligation arising from grants received. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators shareholders’ equity until the shares are either cancelled or reissued. If the shares are reissued, the consideration received for them less transaction costs directly attributable to the shares is included in the shareholders’ equity, taking the tax effect into account. Provisions A provision is entered when the Group has a legal or constructive obligation as a result of a past event, and it is probable that an outflow of resources will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are measured at the present value of the expenses required to cover the obligation. The amounts of provisions are reviewed on each balance sheet date and adjusted to correspond to the best estimate at that time. Changes in provisions are recogni sed in the income statement in the same item in which the original provision was entered. Revenue recognition Atria sells food products, animal feed, traded animals and services. Sales revenue is recognised based on customer contracts. The contracts specify the contractual obligations and the prices applicable to them. Atria does not have consolidated contractual obligations or obligations to be met over time, advance payments or warranty obligations. Atria recognises both the revenue and the receivable when control over the goods or service is transferred to the customer. Delivery usually takes place in Finland within 24 hours, and control and risks are transferred in connection with delivery. In expor t deals, the company estimates the time when control transfers to the customer specific to each delivery in accordance with the terms and time of delivery. Sales prices are not adjusted for the time value of money, because the period between the handover of the products and the payment made by the customer is less than a year. Atria always allocates discounts, as well as any refunds following the sale, to the month of delivery, taking the customers’ full-year volume into account. In the recognition of sales revenue, Atria has identified two customer groups: consumer product customers and primary production customers. Atria presents sales divided into these two revenue streams as part of the segment information in note 1 and the division of receivables in note 20. Atria considers these two customer groups to be the most material in terms of understanding the nature of sales revenue and cash flow arising from customer contracts. Most contracts with customers concern the sale of consumer products. Consumer product customers are primarily central wholesale businesses. In addition, Atria sells traded animals and animal feed to primary production customers. Employee benefits Pension obligations The Group companies have various local pension arrangements in their countries of operation. Pension arrangements are classified as either defined contribution plans or defined benefit pension plans. In defined contribution plans, the Group makes fixed payments to a separate unit. The Group has no legal or factual obligation to make additional payments if the recipient of the payments cannot pay the pension benefits in question. All plans that do not fulfil these conditions are defined benefit pension plans. Payments made into defined contribution plans are recognised in the income statement in the reporting period to which they apply. The Group’s pension plans are mainly defined contribution plans. In defined benefit plans the company still has an ongoing obl igation for the plan even after the payment for the period has been made. For arrangements classified as defined benefit plans, actuarial estimates acquired on an annual basis serve as the grounds for recognising an expense and liability or asset in the financial statements. Actuarial gains or losses are recognised as equity refunds or a charge in other comprehensive income in the financial period in which they occur. Share-based payments The Group has an incentive programme for the management where the payments are made in part as company shares and in part as cash. The remuneration awarded under the programme is measured at fair value at the time of awarding and recognised in the income s tatement as an expense arising from employee benefits spread over the earning and engagement period. The amount of money paid in the arrangement is remeasured using the review period’s closing share price and evenly recognised in the income statement as an expense from the day of awarding until the money is transferred to the recipient. The final amount of the expense depends on the extent to which the conditions of the incentive programme are met. Research and development expenses Research expenditure is recognised as an expense in the income statement. Expenditure related to individual projects is capitalised on the balance sheet when there is sufficient certainty that the product in question is technically viable and that the product is likely to generate future economic benefits. Capitalised development expenditure is recognised in project -specific expenses over the useful life of the product. The asset is amortised from the time it is ready for use. The Group has no capitalised development expenses. Government grants Grants received as compensation for expenses are recognised in the income statement, while expenses connected with the grant are entered as costs. Such grants are recognised under other operating income. The nature of the grants varies between countries, a nd the grants are only recognised after all the terms and conditions of the grant have been met, so the company does not have a repayment obligation arising from grants received. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators shareholders’ equity until the shares are either cancelled or reissued. If the shares are reissued, the consideration received for them less transaction costs directly attributable to the shares is included in the shareholders’ equity, taking the tax effect into account. Provisions A provision is entered when the Group has a legal or constructive obligation as a result of a past event, and it is probable that an outflow of resources will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are measured at the present value of the expenses required to cover the obligation. The amounts of provisions are reviewed on each balance sheet date and adjusted to correspond to the best estimate at that time. Changes in provisions are recogni sed in the income statement in the same item in which the original provision was entered. Revenue recognition Atria sells food products, animal feed, traded animals and services. Sales revenue is recognised based on customer contracts. The contracts specify the contractual obligations and the prices applicable to them. Atria does not have consolidated contractual obligations or obligations to be met over time, advance payments or warranty obligations. Atria recognises both the revenue and the receivable when control over the goods or service is transferred to the customer. Delivery usually takes place in Finland within 24 hours, and control and risks are transferred in connection with delivery. In expor t deals, the company estimates the time when control transfers to the customer specific to each delivery in accordance with the terms and time of delivery. Sales prices are not adjusted for the time value of money, because the period between the handover of the products and the payment made by the customer is less than a year. Atria always allocates discounts, as well as any refunds following the sale, to the month of delivery, taking the customers’ full-year volume into account. In the recognition of sales revenue, Atria has identified two customer groups: consumer product customers and primary production customers. Atria presents sales divided into these two revenue streams as part of the segment information in note 1 and the division of receivables in note 20. Atria considers these two customer groups to be the most material in terms of understanding the nature of sales revenue and cash flow arising from customer contracts. Most contracts with customers concern the sale of consumer products. Consumer product customers are primarily central wholesale businesses. In addition, Atria sells traded animals and animal feed to primary production customers. Employee benefits Pension obligations The Group companies have various local pension arrangements in their countries of operation. Pension arrangements are classified as either defined contribution plans or defined benefit pension plans. In defined contribution plans, the Group makes fixed payments to a separate unit. The Group has no legal or factual obligation to make additional payments if the recipient of the payments cannot pay the pension benefits in question. All plans that do not fulfil these conditions are defined benefit pension plans. Payments made into defined contribution plans are recognised in the income statement in the reporting period to which they apply. The Group’s pension plans are mainly defined contribution plans. In defined benefit plans the company still has an ongoing obl igation for the plan even after the payment for the period has been made. For arrangements classified as defined benefit plans, actuarial estimates acquired on an annual basis serve as the grounds for recognising an expense and liability or asset in the financial statements. Actuarial gains or losses are recognised as equity refunds or a charge in other comprehensive income in the financial period in which they occur. Share-based payments The Group has an incentive programme for the management where the payments are made in part as company shares and in part as cash. The remuneration awarded under the programme is measured at fair value at the time of awarding and recognised in the income s tatement as an expense arising from employee benefits spread over the earning and engagement period. The amount of money paid in the arrangement is remeasured using the review period’s closing share price and evenly recognised in the income statement as an expense from the day of awarding until the money is transferred to the recipient. The final amount of the expense depends on the extent to which the conditions of the incentive programme are met. Research and development expenses Research expenditure is recognised as an expense in the income statement. Expenditure related to individual projects is capitalised on the balance sheet when there is sufficient certainty that the product in question is technically viable and that the product is likely to generate future economic benefits. Capitalised development expenditure is recognised in project -specific expenses over the useful life of the product. The asset is amortised from the time it is ready for use. The Group has no capitalised development expenses. Government grants Grants received as compensation for expenses are recognised in the income statement, while expenses connected with the grant are entered as costs. Such grants are recognised under other operating income. The nature of the grants varies between countries, a nd the grants are only recognised after all the terms and conditions of the grant have been met, so the company does not have a repayment obligation arising from grants received. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators To determine the incremental borrowing rate, whenever possible, the Group uses, financing that it has recently been provided by an external party, adjusted for changes in financial circumstances that have occurred since the financing was granted. Any changes to rents and contractual rent increases are recogni sed in the lease liability when they occur. When index-based or price-based rent changes occur, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments to be made are allocated to equity and financial expenses. Financial expenses are recognised through profit or loss over the lease period so that the interest rate for the remaining liabilities remains the same for each reporting period. Payments related to short-term leases and leases of low-value assets are recognised as expenses on a straight-line basis. Leases with a term of 12 months or less are considered to be short -term leases. Atria does not apply the IFRS 16 standard to leases of intangible assets that are in accordance with IAS 38. Hedge accounting Derivative contracts are initially recognised at fair value on the contract date and are subsequently remeasured at fair value at the end of each reporting period. The recognition of changes in the fair value of derivatives depends on whether the derivativ e instrument qualifies for hedge accounting and if so, on the hedged item. Hedge accounting is applied to derivatives that are de terminated to hedge an interest rate, foreign exchange rate or electricity price risk related to a recogni sed asset or liability, or a highly probable forecast transaction (cash flow hedge). When a derivative is subject to hedge accounting, the Group documents the relationship between each hedging instrument and the hedged asset, as well as the risk management objective and the strategy applied to it, at the beginning of the hedging arrangemen t. Through this process, the hedging instrument is connected to the assets and liabilities or the forecast transactions related to the instrument. Risk management objectives and strategies for undertaking various hedge transactions are also documented. The Group documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedge transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. The full fair value of a hedging derivative is classified as a non -current asset or liability when the maturity of the hedged item is more than 12 months and as a current asset or liability when the remaining maturity of the hedged item is 12 months or les s. Derivatives held for trading are classified as current assets or liabilities. Valuation principles The fair value of forward exchange agreements is calculated by applying the forward rate on the balance sheet date. The fair value of interest rate swaps is calculated by discounting the future cash flows using interest rate curves for the currencies in qu estion. Electricity derivatives are measured at fair value using the market prices on the balance sheet date. Cash flow hedge The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in other comprehensive income and accumulated in equity. The gain or loss related to the ineffective portion is recognised i mmediately in the income statement under the appropriate item. Gains and losses accumulated in equity are reclassified in the income statement in the periods when the hedged item affects profit or loss (for example, when the forecast purchase that is hedged takes place). However, when the forecast transaction that is hedged results in the recognition of a non-financial asset (for example, inventories or fixed assets), the gains and losses previously deferred in equity are transferred from equity and include d in the initial acquisition cost of the asset. The deferred amounts are ultimately recognised in costs of goods sold in the case of inventories, or in depreciation in the case of fixed assets. When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at the time remains in equity and is recognised in the income statement only when the forecast transaction occurs. When a forecast transaction is no longer ex pected to occur, the cumulative gain or loss that was reported in equity is immediately transferred to the income statement under the appropriate item. Assets classified as held for sale Non-current assets are classified as held for sale if their balance sheet value is to be recovered through a sale transaction rather than through continuing use. This condition ha s been met only when the sale is highly probable, and the asset is available for immediate sale in its present condition and is subject only to terms that are usual and customary. Furthermore, management must be committed to the sale, which should be expected to occur within one year of the classification. Immediately before being classified as held for sale, these assets are measured in accordance with the applicable IFRS standards. Thereafter, the assets are measured at the lower of their balance sheet value and fair value less cost to sell. These assets a re no longer depreciated after the classification. Equity Ordinary shares are presented as share capital. Expenses related to the issue or acquisition of equity instruments are presented as a deductible item under equity. If a Group company acquires shares in the company, the consideration paid for them and the expenses arising directly from the acquisition, taking the tax effect into account, are deducted from the 111CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Government grants such as grants received for the acquisition of property, plant and equipment are recognised as a deduction in the balance sheet value of property, plant and equipment once it is reasonably certain that the grant will be received and that the Group company fulfils the prerequisites for receiving the grant. Grants are recognised as income in the form of lower depreciation during the useful life of the asset. Income taxes The income statement tax expense consists of taxes based on the taxable income for the period, taxes under the corporate tax system based on profit distribution, adjustments to taxes from previous financial years, and deferred taxes. Taxes are recogni sed in the income statement unless they are related to other comprehensive income items or items recorded directly in equity. In such cases, the tax is also recorded correspondingly in other comprehensive income or directly in equity. The tax based on the taxable income for the financial year and the tax u nder the corporate tax system based on profit distribution are calculated from the taxable income using the applicable tax rate in each country. Deferred taxes are recognised for all temporary differences between the balance sheet value and the tax base. The largest temporary differences arise from the depreciation of property, plants and equipment, and fair value measurements in connection with ac quisitions. No deferred tax is recognised for non-deductible goodwill impairment, and no deferred tax is recognised for the undistributed profits of subsidiaries if the difference is unlikely to dissolve in the foreseeable future. Deferred tax is calculated using the tax rates provided on the balance sheet date. Deferred tax assets are recognised to the amount for which it is likely that taxable profit will be generated in the future against which the temporary difference can be uti lised. Deferred tax assets are recognised for confirmed losses made by Group companies to the extent to which it is likely that the assets can be utilised to offset future taxable profits. Atria is subject to the minimum tax for large international groups (1308/2023). The law entered into force in Finland on 1 January 2024 and applies to financial periods beginning on or after 31 December 2023. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Government grants such as grants received for the acquisition of property, plant and equipment are recognised as a deduction in the balance sheet value of property, plant and equipment once it is reasonably certain that the grant will be received and that the Group company fulfils the prerequisites for receiving the grant. Grants are recognised as income in the form of lower depreciation during the useful life of the asset. Income taxes The income statement tax expense consists of taxes based on the taxable income for the period, taxes under the corporate tax system based on profit distribution, adjustments to taxes from previous financial years, and deferred taxes. Taxes are recogni sed in the income statement unless they are related to other comprehensive income items or items recorded directly in equity. In such cases, the tax is also recorded correspondingly in other comprehensive income or directly in equity. The tax based on the taxable income for the financial year and the tax u nder the corporate tax system based on profit distribution are calculated from the taxable income using the applicable tax rate in each country. Deferred taxes are recognised for all temporary differences between the balance sheet value and the tax base. The largest temporary differences arise from the depreciation of property, plants and equipment, and fair value measurements in connection with ac quisitions. No deferred tax is recognised for non-deductible goodwill impairment, and no deferred tax is recognised for the undistributed profits of subsidiaries if the difference is unlikely to dissolve in the foreseeable future. Deferred tax is calculated using the tax rates provided on the balance sheet date. Deferred tax assets are recognised to the amount for which it is likely that taxable profit will be generated in the future against which the temporary difference can be uti lised. Deferred tax assets are recognised for confirmed losses made by Group companies to the extent to which it is likely that the assets can be utilised to offset future taxable profits. Atria is subject to the minimum tax for large international groups (1308/2023). The law entered into force in Finland on 1 January 2024 and applies to financial periods beginning on or after 31 December 2023. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators shareholders’ equity until the shares are either cancelled or reissued. If the shares are reissued, the consideration received for them less transaction costs directly attributable to the shares is included in the shareholders’ equity, taking the tax effect into account. Provisions A provision is entered when the Group has a legal or constructive obligation as a result of a past event, and it is probable that an outflow of resources will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are measured at the present value of the expenses required to cover the obligation. The amounts of provisions are reviewed on each balance sheet date and adjusted to correspond to the best estimate at that time. Changes in provisions are recogni sed in the income statement in the same item in which the original provision was entered. Revenue recognition Atria sells food products, animal feed, traded animals and services. Sales revenue is recognised based on customer contracts. The contracts specify the contractual obligations and the prices applicable to them. Atria does not have consolidated contractual obligations or obligations to be met over time, advance payments or warranty obligations. Atria recognises both the revenue and the receivable when control over the goods or service is transferred to the customer. Delivery usually takes place in Finland within 24 hours, and control and risks are transferred in connection with delivery. In expor t deals, the company estimates the time when control transfers to the customer specific to each delivery in accordance with the terms and time of delivery. Sales prices are not adjusted for the time value of money, because the period between the handover of the products and the payment made by the customer is less than a year. Atria always allocates discounts, as well as any refunds following the sale, to the month of delivery, taking the customers’ full-year volume into account. In the recognition of sales revenue, Atria has identified two customer groups: consumer product customers and primary production customers. Atria presents sales divided into these two revenue streams as part of the segment information in note 1 and the division of receivables in note 20. Atria considers these two customer groups to be the most material in terms of understanding the nature of sales revenue and cash flow arising from customer contracts. Most contracts with customers concern the sale of consumer products. Consumer product customers are primarily central wholesale businesses. In addition, Atria sells traded animals and animal feed to primary production customers. Employee benefits Pension obligations The Group companies have various local pension arrangements in their countries of operation. Pension arrangements are classified as either defined contribution plans or defined benefit pension plans. In defined contribution plans, the Group makes fixed payments to a separate unit. The Group has no legal or factual obligation to make additional payments if the recipient of the payments cannot pay the pension benefits in question. All plans that do not fulfil these conditions are defined benefit pension plans. Payments made into defined contribution plans are recognised in the income statement in the reporting period to which they apply. The Group’s pension plans are mainly defined contribution plans. In defined benefit plans the company still has an ongoing obl igation for the plan even after the payment for the period has been made. For arrangements classified as defined benefit plans, actuarial estimates acquired on an annual basis serve as the grounds for recognising an expense and liability or asset in the financial statements. Actuarial gains or losses are recognised as equity refunds or a charge in other comprehensive income in the financial period in which they occur. Share-based payments The Group has an incentive programme for the management where the payments are made in part as company shares and in part as cash. The remuneration awarded under the programme is measured at fair value at the time of awarding and recognised in the income s tatement as an expense arising from employee benefits spread over the earning and engagement period. The amount of money paid in the arrangement is remeasured using the review period’s closing share price and evenly recognised in the income statement as an expense from the day of awarding until the money is transferred to the recipient. The final amount of the expense depends on the extent to which the conditions of the incentive programme are met. Research and development expenses Research expenditure is recognised as an expense in the income statement. Expenditure related to individual projects is capitalised on the balance sheet when there is sufficient certainty that the product in question is technically viable and that the product is likely to generate future economic benefits. Capitalised development expenditure is recognised in project -specific expenses over the useful life of the product. The asset is amortised from the time it is ready for use. The Group has no capitalised development expenses. Government grants Grants received as compensation for expenses are recognised in the income statement, while expenses connected with the grant are entered as costs. Such grants are recognised under other operating income. The nature of the grants varies between countries, a nd the grants are only recognised after all the terms and conditions of the grant have been met, so the company does not have a repayment obligation arising from grants received. 112CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 1. SEGMENT INFORMATION Atria’s business is influenced by consumers, customers and products. These also guide the formation of the Group’s organisational structure and financial reporting. As most customers o nly operate in one country and Atria’s products are mainly fresh products sold in the country of production, the reporting segment s Atria uses are Atria Finland, Atria Sweden and Atria Denmark & Estonia. Denmark and Estonia are reported together as they do not reach the thresholds for separate reporting and share similar characteristics. The Board of Directors assesses the performance of the operating segments based on net sales, EBIT and return on capital employed, and makes strategic and op erative decisions on the basis of information for the operating segments. Group costs are reported separately in unallocated items. Group costs include personnel and administration costs and other in come and costs that are not allocated to the operating segments. Items under EBIT are not allocated to operating segments. A segmen t’s assets and liabilities are items that can be directly attributed or reasonably allocated to the segment. Transactions bet ween the segments take place at market price. The Group has two clients who together account for about 30 percent of the group's net sales. The net sales are reported in the operating segments Atria Finland and Atria Denmark & Estonia. EUR 1,000 Atria Denmark Operating segments Atria Finland Atria Sweden & Estonia Unallocated Eliminations Group Period that ended on 31 Dec 2025 Net sales Revenue from consumer products 995,870 387,516 124,067 0 0 1,507,454 Revenue from primary production 306,281 0 0 0 0 306,281 Revenue from Group companies 17,469 5,143 700 0 -23,312 0 Total net sales 1,319,620 392,659 124,767 0 -23,312 1,813,734 EBIT * 56,301 8,292 4,949 -5,524 0 64,018 Financial income and expenses -10,651 Income from joint ventures and associated 246 Income taxes -10,048 Profit for the period 43,566 Assets 702,680 234,044 105,081 0 -42,414 999,390 Liabilities 428,918 120,255 37,837 0 -42,414 544,596 Investments 37,648 11,412 5,173 0 0 54,233 Depreciation 44,700 13,710 4,983 0 0 63,393 Impairment 1,076 0 6 0 0 1,082 * Atria Finland’s EBIT includes a one -off expense of EUR 5.9 million related to the divestment of the old factory site in Kuopio. 113CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Atria Denmark Operating segments Atria Finland Atria Sweden & Estonia Unallocated Eliminations Group Period that ended on 31 Dec 2024 Net sales Revenue from consumer products 976,693 354,554 124,693 0 0 1,455,939 Revenue from primary production 299,211 0 217 0 0 299,428 Revenue from Group companies 19,730 5,608 945 0 -26,284 0 Total net sales 1,295,635 360,162 125,854 0 -26,284 1,755,368 EBIT 61,372 4,538 5,250 -4,751 0 66,408 Financial income and expenses -15,447 Income from joint ventures and associated 1,125 Income taxes -9,060 Profit/loss for the period 42,997 Assets 681,915 223,657 97,566 0 -18,344 984,794 Liabilities 412,355 119,065 48,012 0 -18,344 561,087 Investments 22,912 11,342 5,326 0 0 39,580 Depreciation 43,518 12,531 5,436 0 0 61,485 Impairment 419 1 0 0 0 421 * Atria Finland’s EBIT includes a one -off income of EUR 1.0 million related to the reorganisation of the poultry business. 114CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 2. NET SALES 1,000 EUR 2025 2024 Sale of goods: Revenue from consumer product customers 1,499,862 1,447,089 Revenue from primary product customers 306,116 299,345 Services, rents and other sales: Revenue from consumer product customers 7,591 8,850 Revenue from primary product customers 165 83 Total 1,813,734 1,755,368 In the recognition of sales revenue, Atria has identified two customer groups: consumer product customers and primary production customers. Atria presents sales divided into these two revenue streams also as part of the segment information in note 1 and of receivables in note 20. 3. RESEARCH AND DEVELOPMENT EXPENSES EUR 1,000 2025 2024 Research and development costs recognised as expenditure 14,847 14,803 % of net sales 0.8% 0.8% Research and development expenses are included in sales and marketing expenses. 4. AUDITORS' FEES EUR 1,000 2025 2024 Auditing fees 358 343 Audit-related engagements 83 105 Total 441 448 Auditors' fees are included in administrative expenses. 5. OTHER OPERATING INCOME EUR 1,000 2025 2024 Proceeds from sales of fixed assets 4 1,616 Grants received 311 949 Other 4,159 1,998 Total 4,474 4,564 Other operating income includes gains on the disposal of fixed assets, received grants, as well as insurance and damage compensations. 6. OTHER OPERATING EXPENSES EUR 1,000 2025 2024 Depreciations of intangible assets according to plan 1,350 1,900 Impairment losses from financial assets and contractual assets / reversals 252 -596 Reorganisation costs / reversals 0 -302 Other * 6,216 2,021 Total 7,819 3,023 * Atria recorded a EUR 5.9 million non -recurring expense in 2025 related to demolition and restoration work in the Kelloniemi area in Kuopio and terminating a long -term land lease. The write-off component of this charge amounted to EUR 0.7 million. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 2. NET SALES 1,000 EUR 2025 2024 Sale of goods: Revenue from consumer product customers 1,499,862 1,447,089 Revenue from primary product customers 306,116 299,345 Services, rents and other sales: Revenue from consumer product customers 7,591 8,850 Revenue from primary product customers 165 83 Total 1,813,734 1,755,368 In the recognition of sales revenue, Atria has identified two customer groups: consumer product customers and primary production customers. Atria presents sales divided into these two revenue streams also as part of the segment information in note 1 and of receivables in note 20. 3. RESEARCH AND DEVELOPMENT EXPENSES EUR 1,000 2025 2024 Research and development costs recognised as expenditure 14,847 14,803 % of net sales 0.8% 0.8% Research and development expenses are included in sales and marketing expenses. 4. AUDITORS' FEES EUR 1,000 2025 2024 Auditing fees 358 343 Audit-related engagements 83 105 Total 441 448 Auditors' fees are included in administrative expenses. 5. OTHER OPERATING INCOME EUR 1,000 2025 2024 Proceeds from sales of fixed assets 4 1,616 Grants received 311 949 Other 4,159 1,998 Total 4,474 4,564 Other operating income includes gains on the disposal of fixed assets, received grants, as well as insurance and damage compensations. 6. OTHER OPERATING EXPENSES EUR 1,000 2025 2024 Depreciations of intangible assets according to plan 1,350 1,900 Impairment losses from financial assets and contractual assets / reversals 252 -596 Reorganisation costs / reversals 0 -302 Other * 6,216 2,021 Total 7,819 3,023 * Atria recorded a EUR 5.9 million non -recurring expense in 2025 related to demolition and restoration work in the Kelloniemi area in Kuopio and terminating a long -term land lease. The write-off component of this charge amounted to EUR 0.7 million. 115CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 7. PERSONNEL EXPENSES EUR 1,000 2025 2024 Expenses from employee benefits: Salaries 224,918 217,012 Pension costs - defined-contribution plans 33,942 33,410 Pension costs - defined-benefit plans -237 -230 Other staff-related expenses 22,046 22,050 Total 280,668 272,241 Expenses from employee benefits by function: Costs of goods sold 220,792 216,643 Sales and marketing expenses 30,167 28,473 Administrative expenses * 29,709 27,126 Total 280,668 272,241 Personnel on average by business area (FTE): Finland 2,463 2,594 Sweden 880 829 Denmark & Estonia 442 441 Total 3,785 3,864 * Information on employee benefits for managerial employees is presented in note 31. 8. DEPRECIATION AND IMPAIRMENT EUR 1,000 2025 2024 Depreciation and write-offs by function: Costs of goods sold 56,061 54,131 Sales and marketing expenses 847 817 Administrative expenses 5,484 5,058 Other operating expenses (note 6) * 2,083 1,900 Total 64,475 61,906 * Depreciation for 2025 includes an impairment charge of EUR 0.7 million related to the divestment of the Kelloniemi factory area in Kuopio. 9. FINANCIAL INCOME AND EXPENSES EUR 1,000 2025 2024 Financial income: Interest income from financial assets measured at amortised cost 4,250 5,254 Exchange rate gains from financial liabilities and loan receivables measured at amortised cost 2,085 1,446 Changes in the value of financial assets recognised at fair value through profit or loss - Derivative financial instruments (not in hedge accounting) 1,099 2,766 Other financial income 0 78 Total 7,434 9,544 Financial expenses: Interest expenses from financial liabilities measured at amortised cost -12,791 -18,745 Interest expenses from lease liabilities (notes 14, 25) -502 -452 Exchange rate losses from financial liabilities and loan receivables measured at amortised cost -123 -2,440 Other financial expenses -695 -1,587 Impairment from loan receivables measured at amortised cost (note 20) -171 188 Changes in the value of financial assets recognised at fair value through profit or loss - Derivative financial instruments (not in hedge accounting) -3,803 -1,956 Total -18,085 -24,991 Total financial income and expenses -10,651 -15,447 Items related to financial instruments and recognised in other items of total comprehensive income before taxes: Cash flow hedges 1,334 -6,080 Translation differences 6,091 -3,351 Total 7,425 -9,432 CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 7. PERSONNEL EXPENSES EUR 1,000 2025 2024 Expenses from employee benefits: Salaries 224,918 217,012 Pension costs - defined-contribution plans 33,942 33,410 Pension costs - defined-benefit plans -237 -230 Other staff-related expenses 22,046 22,050 Total 280,668 272,241 Expenses from employee benefits by function: Costs of goods sold 220,792 216,643 Sales and marketing expenses 30,167 28,473 Administrative expenses * 29,709 27,126 Total 280,668 272,241 Personnel on average by business area (FTE): Finland 2,463 2,594 Sweden 880 829 Denmark & Estonia 442 441 Total 3,785 3,864 * Information on employee benefits for managerial employees is presented in note 31. 8. DEPRECIATION AND IMPAIRMENT EUR 1,000 2025 2024 Depreciation and write-offs by function: Costs of goods sold 56,061 54,131 Sales and marketing expenses 847 817 Administrative expenses 5,484 5,058 Other operating expenses (note 6) * 2,083 1,900 Total 64,475 61,906 * Depreciation for 2025 includes an impairment charge of EUR 0.7 million related to the divestment of the Kelloniemi factory area in Kuopio. 9. FINANCIAL INCOME AND EXPENSES EUR 1,000 2025 2024 Financial income: Interest income from financial assets measured at amortised cost 4,250 5,254 Exchange rate gains from financial liabilities and loan receivables measured at amortised cost 2,085 1,446 Changes in the value of financial assets recognised at fair value through profit or loss - Derivative financial instruments (not in hedge accounting) 1,099 2,766 Other financial income 0 78 Total 7,434 9,544 Financial expenses: Interest expenses from financial liabilities measured at amortised cost -12,791 -18,745 Interest expenses from lease liabilities (notes 14, 25) -502 -452 Exchange rate losses from financial liabilities and loan receivables measured at amortised cost -123 -2,440 Other financial expenses -695 -1,587 Impairment from loan receivables measured at amortised cost (note 20) -171 188 Changes in the value of financial assets recognised at fair value through profit or loss - Derivative financial instruments (not in hedge accounting) -3,803 -1,956 Total -18,085 -24,991 Total financial income and expenses -10,651 -15,447 Items related to financial instruments and recognised in other items of total comprehensive income before taxes: Cash flow hedges 1,334 -6,080 Translation differences 6,091 -3,351 Total 7,425 -9,432 116CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 10. INCOME TAXES EUR 1,000 2025 2024 Income tax expenses: Taxes based on the taxable profit for the period 11,717 8,485 Taxes from previous periods 977 -70 Deferred tax -2,646 645 Total 10,048 9,060 Reconciliation of taxes in income statement and taxes calculated at the parent company's tax rate: Profit before taxes 53,614 52,056 Taxes calculated with the parent company’s 20.0 percent tax rate 10,723 10,411 Effect of foreign subsidiaries’ deviating tax rates -1,099 -1,438 Effect of tax-free income -55 0 Effect of costs that are non-deductible in taxation 135 -380 Effect of income from joint ventures/associates -49 -225 Adjustments to taxes for previous periods 236 -70 Effect of unrecognised deferred tax assets -494 721 Minimum tax 734 0 Other changes -83 41 Income tax expenses 10,048 9,060 Taxes on other comprehensive Before Tax After income items tax effects tax 2025: Cash flow hedges 1,334 -264 1,069 Actuarial gains from pension obligations 753 -155 598 Total 2,086 -420 1,667 2024: Cash flow hedges -6,080 1,217 -4,864 Actuarial gains from pension obligations -694 143 -551 Total -6,774 1,360 -5,415 On 15 December 2022, the Council of the European Union adopted a directive on a worldwide minimum tax, based on the OECD's Pillar II regulation, which aims to apply a minimum tax of at least 15 percent to large-scale corporate groups’ profit. The Act on the minimum tax rate for large -scale corporate groups (1308/2023), which is required for the national implementation of the directive, entered into force in Finland on 1 January 2024 and applies to financial years beginning on or after 31 December 2023. The effective tax rate of the Group entities is assessed on a country -by-country basis. If the effective tax rate in the country of residence of a Group entity is below 15 percent, taxation in accordance with the minimum tax level is applied through a top -up tax. Based on the calculations prepared for 2025, the global minimum tax rules affect Atria only due to Estonia’s profit distribution–based taxation. Atria has recogni sed a minimum tax accrual related to the Estonian result. 11. EARNINGS PER SHARE 2025 2024 Profit (+) / loss (-) for the financial period attributable to the owners of the parent company (EUR 1,000) 40,702 39,654 Weighted average number of shares for the period (1,000 shares) 28,194 28,175 Basic earnings per share, EUR 1.44 1.41 Earnings per share adjusted by the dilution effect, EUR 1.44 1.41 Basic earnings per share are calculated by dividing the parent company’s shareholder’s profit for the period by the weighted average number of outstanding shares. When calculating the earnings per share adjusted by the dilution effect, the dilution effect from all potential dilutive conversions of ordinary shares is taken into account in the weighted average number of shares. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 10. INCOME TAXES EUR 1,000 2025 2024 Income tax expenses: Taxes based on the taxable profit for the period 11,717 8,485 Taxes from previous periods 977 -70 Deferred tax -2,646 645 Total 10,048 9,060 Reconciliation of taxes in income statement and taxes calculated at the parent company's tax rate: Profit before taxes 53,614 52,056 Taxes calculated with the parent company’s 20.0 percent tax rate 10,723 10,411 Effect of foreign subsidiaries’ deviating tax rates -1,099 -1,438 Effect of tax-free income -55 0 Effect of costs that are non-deductible in taxation 135 -380 Effect of income from joint ventures/associates -49 -225 Adjustments to taxes for previous periods 236 -70 Effect of unrecognised deferred tax assets -494 721 Minimum tax 734 0 Other changes -83 41 Income tax expenses 10,048 9,060 Taxes on other comprehensive Before Tax After income items tax effects tax 2025: Cash flow hedges 1,334 -264 1,069 Actuarial gains from pension obligations 753 -155 598 Total 2,086 -420 1,667 2024: Cash flow hedges -6,080 1,217 -4,864 Actuarial gains from pension obligations -694 143 -551 Total -6,774 1,360 -5,415 On 15 December 2022, the Council of the European Union adopted a directive on a worldwide minimum tax, based on the OECD's Pillar II regulation, which aims to apply a minimum tax of at least 15 percent to large-scale corporate groups’ profit. The Act on the minimum tax rate for large -scale corporate groups (1308/2023), which is required for the national implementation of the directive, entered into force in Finland on 1 January 2024 and applies to financial years beginning on or after 31 December 2023. The effective tax rate of the Group entities is assessed on a country -by-country basis. If the effective tax rate in the country of residence of a Group entity is below 15 percent, taxation in accordance with the minimum tax level is applied through a top -up tax. Based on the calculations prepared for 2025, the global minimum tax rules affect Atria only due to Estonia’s profit distribution–based taxation. Atria has recogni sed a minimum tax accrual related to the Estonian result. 11. EARNINGS PER SHARE 2025 2024 Profit (+) / loss (-) for the financial period attributable to the owners of the parent company (EUR 1,000) 40,702 39,654 Weighted average number of shares for the period (1,000 shares) 28,194 28,175 Basic earnings per share, EUR 1.44 1.41 Earnings per share adjusted by the dilution effect, EUR 1.44 1.41 Basic earnings per share are calculated by dividing the parent company’s shareholder’s profit for the period by the weighted average number of outstanding shares. When calculating the earnings per share adjusted by the dilution effect, the dilution effect from all potential dilutive conversions of ordinary shares is taken into account in the weighted average number of shares. 117CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 12. PROPERTY, PLANT AND EQUIPMENT EUR 1,000 Land and Buildings and Machinery and Other Acquisition 2025 water structures equipment tangible assets in progress Total Acquisition cost 1 Jan 3,787 631,188 776,416 6,161 16,397 1,433,948 Increases 2 13,268 32,772 500 50,004 96,547 Decreases -80 -413 -10,911 0 -44,641 -56,045 Exchange rate differences 41 4,640 9,336 5 -392 13,628 Acquisition cost 31 Dec 3,750 648,683 807,613 6,665 21,367 1,488,078 Cumulative depreciation and impairment 1 Jan 0 -305,538 -600,741 -3,671 1 -909,949 Decreases 0 11 10,242 0 0 10,253 Depreciation 0 -16,417 -31,996 -288 0 -48,701 Impairment 0 -1,045 -31 -5 0 -1,082 Exchange rate differences 0 -1,934 -6,604 0 0 -8,538 Cumulative depreciation and impairment 31 Dec 0 -324,923 -629,131 -3,964 1 -958,017 Balance sheet value 1 Jan 3,787 325,649 175,675 2,490 16,398 523,999 Balance sheet value 31 Dec 3,749 323,759 178,483 2,701 21,368 530,060 Land and Buildings and Machinery and Other Acquisition 2024 water structures equipment tangible assets in progress Total Acquisition cost 1 Jan 3,583 616,105 741,477 5,822 38,400 1,405,387 Acquired operations 1,740 0 35 1,775 Increases 234 17,569 40,911 338 35,229 94,281 Decreases -5 0 -2,816 0 -57,460 -60,282 Exchange rate differences -24 -2,486 -4,895 0 193 -7,213 Acquisition cost 31 Dec 3,787 631,188 776,416 6,161 16,397 1,433,948 Cumulative depreciation and impairment 1 Jan 0 -290,547 -575,605 -3,408 1 -869,559 Decreases 0 0 2,257 2 0 2,259 Depreciation 0 -15,887 -30,452 -265 0 -46,604 Impairment 0 -85 -333 0 0 -418 Exchange rate differences 0 981 3,392 0 0 4,373 Cumulative depreciation and impairment 31 Dec 0 -305,538 -600,741 -3,671 1 -909,949 Balance sheet value 1 Jan 3,583 325,558 165,872 2,414 38,401 535,827 Balance sheet value 31 Dec 3,787 325,649 175,675 2,490 16,398 523,999 The tangible assets used as loan collateral amount to EUR 10.6 million ( EUR 12.5 million). 118CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 13. BIOLOGICAL ASSETS EUR 1,000 2025 2024 Biological assets: Productive 498 597 Consumable 4,536 5,333 At the end of the period 5,034 5,930 The period change -896 351 Amounts of biological assets at the end of the period: Boars, sows, gilts / qty 3,266 3,369 Pigs for fattening / qty 34,541 31,619 Chicken eggs and chicks / 1,000 qty 3,526 4,042 Production of agricultural products during the period: Pork / 1,000 kg 5,113 4,397 Chicks / 1,000 qty 46,905 45,752 The fair value of productive biological assets is based on the original acquisition price less a cost corresponding to the reduction of value in use due to the ageing of the animals. The fair value of slaughter animals equals their market price, which is b ased on the company’s slaughter animal procurement/sales in the local markets. Fair values are classified as Level 3. 14. RIGHT-OF-USE ASSETS EUR 1,000 Right-of-use assets acquired Machinery and through leases in 2025 Real estate equipment Total Opening balance 1 Jan 13,497 9,268 22,765 Increases 5,817 1,678 7,495 Decreases -1,213 -698 -1,911 Depreciation -6,096 -4,535 -10,631 Exchange rate differences 111 96 207 Balance sheet value 31 Dec 12,117 5,809 17,925 Right-of-use assets acquired Machinery and through leases in 2024 Real estate equipment Total Opening balance 1 Jan 13,812 10,750 24,562 Increases 4,640 3,371 8,011 Decreases 589 -154 435 Depreciation -5,530 -4,639 -10,169 Exchange rate differences -14 -60 -74 Balance sheet value 31 Dec 13,497 9,268 22,765 In 2025, outgoing cash flow arising from lease agreements in accordance with IFRS 16 was EUR 11.1 million (EUR 10.0 million), of which EUR 0.5 million ( EUR 0.5 million) is recognised in cash flow from operating activities and EUR 10.6 million ( EUR 9.5 million) in cash flow from financing activities. Liabilities related to leases are presented in note 25. Rents 2025 2024 Other variable payments related to leases 752 1,026 Rents recognised as costs during the financial period: From short-term leases 1,701 2,117 From low-value leases 1,369 765 CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 13. BIOLOGICAL ASSETS EUR 1,000 2025 2024 Biological assets: Productive 498 597 Consumable 4,536 5,333 At the end of the period 5,034 5,930 The period change -896 351 Amounts of biological assets at the end of the period: Boars, sows, gilts / qty 3,266 3,369 Pigs for fattening / qty 34,541 31,619 Chicken eggs and chicks / 1,000 qty 3,526 4,042 Production of agricultural products during the period: Pork / 1,000 kg 5,113 4,397 Chicks / 1,000 qty 46,905 45,752 The fair value of productive biological assets is based on the original acquisition price less a cost corresponding to the reduction of value in use due to the ageing of the animals. The fair value of slaughter animals equals their market price, which is b ased on the company’s slaughter animal procurement/sales in the local markets. Fair values are classified as Level 3. 14. RIGHT-OF-USE ASSETS EUR 1,000 Right-of-use assets acquired Machinery and through leases in 2025 Real estate equipment Total Opening balance 1 Jan 13,497 9,268 22,765 Increases 5,817 1,678 7,495 Decreases -1,213 -698 -1,911 Depreciation -6,096 -4,535 -10,631 Exchange rate differences 111 96 207 Balance sheet value 31 Dec 12,117 5,809 17,925 Right-of-use assets acquired Machinery and through leases in 2024 Real estate equipment Total Opening balance 1 Jan 13,812 10,750 24,562 Increases 4,640 3,371 8,011 Decreases 589 -154 435 Depreciation -5,530 -4,639 -10,169 Exchange rate differences -14 -60 -74 Balance sheet value 31 Dec 13,497 9,268 22,765 In 2025, outgoing cash flow arising from lease agreements in accordance with IFRS 16 was EUR 11.1 million (EUR 10.0 million), of which EUR 0.5 million ( EUR 0.5 million) is recognised in cash flow from operating activities and EUR 10.6 million ( EUR 9.5 million) in cash flow from financing activities. Liabilities related to leases are presented in note 25. Rents 2025 2024 Other variable payments related to leases 752 1,026 Rents recognised as costs during the financial period: From short-term leases 1,701 2,117 From low-value leases 1,369 765 119CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 15. GOODWILL AND OTHER INTANGIBLE ASSETS EUR 1,000 Customer Other tangible 2025 Goodwill Trademarks relationship assets Total Acquisition cost 1 Jan 164,770 75,068 8,431 55,988 304,257 Increases 0 0 0 5,073 5,073 Decreases 0 -3,228 0 -2,670 -5,899 Exchange rate differences 5,522 2,302 224 351 8,398 Acquisition cost 31 Dec 170,291 74,143 8,655 58,741 311,830 Cumulative depreciation and impairment 1 Jan -82,500 -23,982 -8,431 -47,412 -162,324 Depreciation on decreases 0 3,228 0 47 3,275 Depreciation 0 -1,303 0 -2,758 -4,061 Impairment 0 0 0 0 0 Exchange rate differences -3,327 -730 -224 -279 -4,561 Cumulative depreciation 31 Dec -85,827 -22,786 -8,655 -50,403 -167,671 Balance sheet value 1 Jan 82,270 51,087 0 8,576 141,933 Balance sheet value 31 Dec 84,464 51,356 0 8,338 144,158 Customer Other tangible 2024 Goodwill Trademarks relationship assets Total Acquisition cost 1 Jan 162,741 67,288 8,555 54,069 292,653 Acquired operations 2,429 8,797 0 0 11,226 Increases 0 0 0 2,167 2,167 Decreases 0 0 0 -62 -62 Exchange rate differences -401 -1,016 -124 -186 -1,727 Acquisition cost 31 Dec 164,770 75,068 8,431 55,988 304,257 Cumulative depreciation and impairment 1 Jan -81,755 -23,118 -7,958 -45,016 -157,847 Depreciation on decreases 0 0 0 58 58 Depreciation 0 -1,259 -592 -2,570 -4,421 Impairment 0 0 0 -2 -2 Exchange rate differences -745 396 120 118 -111 Cumulative depreciation 31 Dec -82,500 -23,982 -8,431 -47,412 -162,324 Balance sheet value 1 Jan 80,986 44,170 597 9,053 134,806 Balance sheet value 31 Dec 82,270 51,087 0 8,576 141,933 120CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Goodwill and intangible assets with indefinite useful lives are allocated to the Group’s cash-generating units as follows: Goodwill Trademarks 2025 2024 2025 2024 Atria Finland 28,389 28,389 0 0 Atria Sweden 40,311 38,093 19,960 18,850 Atria Denmark 15,764 15,787 13,282 13,301 Atria Estonia 0 0 2,857 2,857 Total 84,464 82,270 36,099 35,008 Impairment testing: Key assumptions for 2025 Atria Finland Atria Sweden Atria Denmark Atria Estonia Long-term net sales growth rate 1.0% 1.0% 1.0% 1.0% Discount rate defined before taxes 5.6% 6.2% 7.9% 7.3% Key assumptions for 2024 Atria Finland Atria Sweden Atria Denmark Atria Estonia Long-term net sales growth rate 1.0% 1.0% 1.0% 1.0% Discount rate defined before taxes 5.8% 6.4% 7.4% 7.6% The recoverable amount of a cash -generating unit is based on value -in-use calculations. The calculations use pre-tax cash flow forecasts for a five -year period, based on management -approved strategic targets and budgets. Thereafter, the projected cash flows are extrapolated using the growth rates presented. The key assumptions underlying the cash flow forecasts used in Atria’s impairment testing are revenue growth and long-term EBITDA and operating profit margins. The assumptions applied in the calculations for the cash -generating units are based on realistic target levels set by the Group and on external information, such as statistics from research institutions, economic forecasts, market intelligence, and market and consumer research. The Group ’s target level for the operating profit margin is 5 percent. Based on these assumptions, the growth rates applied are moderate for all cash-generating units. The discount rates used in the calculations are influenced by the capital structure, the level of the risk -free interest rate, and country - and company-specific risk premiums. The present value of future cash flows exceeds the carrying amount in Sweden by approximately EUR 99 million and in Denmark by approximately EUR 3 million. An impairment loss would be recogni sed in Atria Sweden if the long -term operating profit margin were to fall to 38 percent of the assumed level, and in Atria Denmark to 5 percent of the assumed level. With cash flow forecasts remaining unchanged, impairment losses would arise if the discount rates were to increase by 2.4 percentage points in Sweden and by 0.3 percentage points in Denmark. A significant increase in discount rates would also imply a change in market conditions, which would in turn affect Atria’s cash flows. Based on the calculations, no reasonably possible change in assumptions would lead to the recognition of an impairment loss in Atria Finland or Atria Estonia. 121CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 16. INVESTMENTS IN JOINT VENTURES AND ASSOCIATES 1,000 EUR 2025 2024 Effect on the Group’s earnings Associates -223 -60 Joint ventures 469 1,185 Total 246 1,125 Balance sheet values Associates 2,363 2,724 Joint ventures 18,711 18,539 Total 21,074 21,263 Material investment in a joint venture Honkajoki Oy is a recycling facility for animal -based raw materials in Honkajoki, Finland. The company has subsidiaries: Findest Protein Oy, GMM Finland Oy and Remsoil Oy. Atria Plc owns 50 percent of the company and exercises joint control in it with HK Foods Finland. Honkajoki Group’s figures have been consolidated using the equity method. Summary of Honkajoki Group’s results: Net sales 56,096 58,218 EBIT 2,785 3,571 Profit before taxes 1,392 2,882 Profit for the period 1,143 2,318 Summary of Honkajoki Group’s balance sheet: Assets Non-current assets 68,089 51,462 Current assets 16,816 17,082 Total assets 84,905 68,544 Liabilities Non-current liabilities 36,166 20,971 Current liabilities 12,239 11,362 Total liabilities 48,406 32,333 Net assets 36,500 36,211 Reconciliation of the summary of financial information for Honkajoki Group: Profit for the period 1,143 2,318 Share of non-controlling interest 0 -12 Income from joint venture (50%) 572 1,153 Net assets 1 Jan 36,211 34,717 Profit for the period 1,143 2,318 Other changes -260 Dividend distribution -594 -824 Net assets 31 Dec 36,500 36,211 Share of non-controlling interest 288 288 Share of joint venture (50%) 18,106 17,962 Non-material investments in joint ventures: Balance sheet value in the consolidated statement of financial position 605 578 Effect on earnings in the consolidated income statement 27 31 The joint ventures and associates are listed in note 35. 17. OTHER FINANCIAL ASSETS EUR 1,000 2025 2024 Other financial assets 1 Jan 2,840 916 Increases 849 1,924 Other financial assets 1 Dec 3,689 2,840 Other financial assets are classified as financial assets recognised at fair value through comprehensive income. Other financial assets include unlisted shares. During the accounting period, Atria has increased its investment in Nurmon Bioenergia Oy. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 16. INVESTMENTS IN JOINT VENTURES AND ASSOCIATES 1,000 EUR 2025 2024 Effect on the Group’s earnings Associates -223 -60 Joint ventures 469 1,185 Total 246 1,125 Balance sheet values Associates 2,363 2,724 Joint ventures 18,711 18,539 Total 21,074 21,263 Material investment in a joint venture Honkajoki Oy is a recycling facility for animal -based raw materials in Honkajoki, Finland. The company has subsidiaries: Findest Protein Oy, GMM Finland Oy and Remsoil Oy. Atria Plc owns 50 percent of the company and exercises joint control in it with HK Foods Finland. Honkajoki Group’s figures have been consolidated using the equity method. Summary of Honkajoki Group’s results: Net sales 56,096 58,218 EBIT 2,785 3,571 Profit before taxes 1,392 2,882 Profit for the period 1,143 2,318 Summary of Honkajoki Group’s balance sheet: Assets Non-current assets 68,089 51,462 Current assets 16,816 17,082 Total assets 84,905 68,544 Liabilities Non-current liabilities 36,166 20,971 Current liabilities 12,239 11,362 Total liabilities 48,406 32,333 Net assets 36,500 36,211 Reconciliation of the summary of financial information for Honkajoki Group: Profit for the period 1,143 2,318 Share of non-controlling interest 0 -12 Income from joint venture (50%) 572 1,153 Net assets 1 Jan 36,211 34,717 Profit for the period 1,143 2,318 Other changes -260 Dividend distribution -594 -824 Net assets 31 Dec 36,500 36,211 Share of non-controlling interest 288 288 Share of joint venture (50%) 18,106 17,962 Non-material investments in joint ventures: Balance sheet value in the consolidated statement of financial position 605 578 Effect on earnings in the consolidated income statement 27 31 The joint ventures and associates are listed in note 35. 17. OTHER FINANCIAL ASSETS EUR 1,000 2025 2024 Other financial assets 1 Jan 2,840 916 Increases 849 1,924 Other financial assets 1 Dec 3,689 2,840 Other financial assets are classified as financial assets recognised at fair value through comprehensive income. Other financial assets include unlisted shares. During the accounting period, Atria has increased its investment in Nurmon Bioenergia Oy. 122CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 18. DEFERRED TAX ASSETS AND LIABILITIES, EUR 1,000 2025 2024 Deferred tax assets: Tax asset to be realised after 12 months 1,754 1,136 Tax asset to be realised within 12 months 1,699 1,329 Total 3,452 2,465 Deferred tax liabilities: Tax liability to be realised after 12 months 33,131 33,377 Tax liability to be realised within 12 months 16 602 Total 33,146 33,979 Deferred tax assets by balance sheet item: Intangible and tangible assets 102 91 Right-of-use assets 3,735 4,698 Inventories 16 0 Trade and other receivables 503 435 Interest-bearing and non-interest-bearing liabilities 1,260 1,020 Recognised losses * 1,572 920 Total 7,187 7,164 Netted against deferred tax assets -3,735 -4,698 Deferred tax assets 3,452 2,465 Deferred tax liabilities by balance sheet item: Intangible and tangible assets 32,809 32,831 Inventories 21 109 Trade and other receivables 235 525 Interest-bearing and non-interest-bearing liabilities 81 514 Lease liabilities 3,609 4,582 Total 36,756 38,561 Netted against deferred tax liabilities -3,609 -4,582 Deferred tax liabilities 33,146 33,979 Change in deferred taxes: Recognised in the income statement 2,646 -645 Recognised in other items of total comprehensive income -412 1,360 Acquired operations (note 32) 0 -1,775 Exchange differences -414 206 Total 1,820 -854 * Deferred tax assets EUR 1.6 million from recogni sed losses will expire in 2035. Deferred tax assets for unused tax losses are recognised to the amount for which obtaining tax benefits on the basis of taxable profit is likely. Unrecognised deferred tax assets were EUR 0.1 million ( EUR 0.7 million). 19. INVENTORIES EUR 1,000 2025 2024 Materials and supplies 56,066 59,701 Unfinished products 4,390 4,862 Finished products 64,665 58,271 Other inventories 3,212 3,085 Total 128,333 125,920 In the accounting period, EUR 2.1 million of inventory was recorded as an expense due to inventory losses (EUR 1.8 million). CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 18. DEFERRED TAX ASSETS AND LIABILITIES, EUR 1,000 2025 2024 Deferred tax assets: Tax asset to be realised after 12 months 1,754 1,136 Tax asset to be realised within 12 months 1,699 1,329 Total 3,452 2,465 Deferred tax liabilities: Tax liability to be realised after 12 months 33,131 33,377 Tax liability to be realised within 12 months 16 602 Total 33,146 33,979 Deferred tax assets by balance sheet item: Intangible and tangible assets 102 91 Right-of-use assets 3,735 4,698 Inventories 16 0 Trade and other receivables 503 435 Interest-bearing and non-interest-bearing liabilities 1,260 1,020 Recognised losses * 1,572 920 Total 7,187 7,164 Netted against deferred tax assets -3,735 -4,698 Deferred tax assets 3,452 2,465 Deferred tax liabilities by balance sheet item: Intangible and tangible assets 32,809 32,831 Inventories 21 109 Trade and other receivables 235 525 Interest-bearing and non-interest-bearing liabilities 81 514 Lease liabilities 3,609 4,582 Total 36,756 38,561 Netted against deferred tax liabilities -3,609 -4,582 Deferred tax liabilities 33,146 33,979 Change in deferred taxes: Recognised in the income statement 2,646 -645 Recognised in other items of total comprehensive income -412 1,360 Acquired operations (note 32) 0 -1,775 Exchange differences -414 206 Total 1,820 -854 * Deferred tax assets EUR 1.6 million from recogni sed losses will expire in 2035. Deferred tax assets for unused tax losses are recognised to the amount for which obtaining tax benefits on the basis of taxable profit is likely. Unrecognised deferred tax assets were EUR 0.1 million ( EUR 0.7 million). 19. INVENTORIES EUR 1,000 2025 2024 Materials and supplies 56,066 59,701 Unfinished products 4,390 4,862 Finished products 64,665 58,271 Other inventories 3,212 3,085 Total 128,333 125,920 In the accounting period, EUR 2.1 million of inventory was recorded as an expense due to inventory losses (EUR 1.8 million). 123CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 20. TRADE RECEIVABLES, LOANS AND OTHER RECEIVABLES EUR 1,000 2025 2024 Balance Balance Non-current: sheet value sheet value Trade receivables from primary production customers 4,771 4,355 Loan receivables from primary production customers 1,014 1,191 Other receivables 1,658 1,541 Derivative instruments (in hedge accounting) 1,162 2,254 Total 8,605 9,340 Non-current receivables by currency: EUR 7,352 8,333 SEK 1,252 1,007 Total 8,605 9,340 Current: Trade receivables from consumer product customers 51,973 48,534 Trade receivables from primary production customers 27,841 26,712 Loan receivables from primary production customers 2,908 2,489 Other loan receivables 1 579 Other receivables 15,402 20,409 Derivative instruments (in hedge accounting) 269 248 Derivative financial instruments (not in hedge accounting) 57 253 Accrued credits and deferred charges 7,450 5,818 Total 105,900 105,042 Current receivables by currency: EUR 74,731 76,519 SEK 20,325 19,224 DKK 3,960 7,963 USD 5,171 70 Other 1,714 1,266 Total 105,900 105,042 Material items in accrued credits and deferred charges consist of prepaid expenses of purchase invoices, lease receivables and tax amortisations. Financial assets and liabilities by category are presented in note 29. Receivables from consumer product customers: Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2025 provisions provision receivables losses, % Not due 41,162 47 41,115 0.1 Overdue Less than 30 days 10,008 13 9,995 0.1 30–60 days 298 0 297 0.1 61–90 days 179 0 179 0.0 More than 90 days 731 343 388 47.0 Total 52,378 404 51,973 0.8 Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2024 provisions provision receivables losses, % Not due 39,420 26 39,394 0.1 Overdue Less than 30 days 8,299 5 8,293 0.1 30–60 days 516 0 516 0.1 61–90 days 78 19 58 25.0 More than 90 days 524 252 272 48.0 Total 48,837 303 48,534 0.6 The currency risk on receivables is a relatively low, because the majority of these currency denominated items are held by companies in their functional currency, except for receivables denominated in USD. Fair values do not deviate significantly from balance sheet values. The maximum credit risk for loans and other receivables is equivalent to their balance sheet value. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 20. TRADE RECEIVABLES, LOANS AND OTHER RECEIVABLES EUR 1,000 2025 2024 Balance Balance Non-current: sheet value sheet value Trade receivables from primary production customers 4,771 4,355 Loan receivables from primary production customers 1,014 1,191 Other receivables 1,658 1,541 Derivative instruments (in hedge accounting) 1,162 2,254 Total 8,605 9,340 Non-current receivables by currency: EUR 7,352 8,333 SEK 1,252 1,007 Total 8,605 9,340 Current: Trade receivables from consumer product customers 51,973 48,534 Trade receivables from primary production customers 27,841 26,712 Loan receivables from primary production customers 2,908 2,489 Other loan receivables 1 579 Other receivables 15,402 20,409 Derivative instruments (in hedge accounting) 269 248 Derivative financial instruments (not in hedge accounting) 57 253 Accrued credits and deferred charges 7,450 5,818 Total 105,900 105,042 Current receivables by currency: EUR 74,731 76,519 SEK 20,325 19,224 DKK 3,960 7,963 USD 5,171 70 Other 1,714 1,266 Total 105,900 105,042 Material items in accrued credits and deferred charges consist of prepaid expenses of purchase invoices, lease receivables and tax amortisations. Financial assets and liabilities by category are presented in note 29. Receivables from consumer product customers: Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2025 provisions provision receivables losses, % Not due 41,162 47 41,115 0.1 Overdue Less than 30 days 10,008 13 9,995 0.1 30–60 days 298 0 297 0.1 61–90 days 179 0 179 0.0 More than 90 days 731 343 388 47.0 Total 52,378 404 51,973 0.8 Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2024 provisions provision receivables losses, % Not due 39,420 26 39,394 0.1 Overdue Less than 30 days 8,299 5 8,293 0.1 30–60 days 516 0 516 0.1 61–90 days 78 19 58 25.0 More than 90 days 524 252 272 48.0 Total 48,837 303 48,534 0.6 The currency risk on receivables is a relatively low, because the majority of these currency denominated items are held by companies in their functional currency, except for receivables denominated in USD. Fair values do not deviate significantly from balance sheet values. The maximum credit risk for loans and other receivables is equivalent to their balance sheet value. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 20. TRADE RECEIVABLES, LOANS AND OTHER RECEIVABLES EUR 1,000 2025 2024 Balance Balance Non-current: sheet value sheet value Trade receivables from primary production customers 4,771 4,355 Loan receivables from primary production customers 1,014 1,191 Other receivables 1,658 1,541 Derivative instruments (in hedge accounting) 1,162 2,254 Total 8,605 9,340 Non-current receivables by currency: EUR 7,352 8,333 SEK 1,252 1,007 Total 8,605 9,340 Current: Trade receivables from consumer product customers 51,973 48,534 Trade receivables from primary production customers 27,841 26,712 Loan receivables from primary production customers 2,908 2,489 Other loan receivables 1 579 Other receivables 15,402 20,409 Derivative instruments (in hedge accounting) 269 248 Derivative financial instruments (not in hedge accounting) 57 253 Accrued credits and deferred charges 7,450 5,818 Total 105,900 105,042 Current receivables by currency: EUR 74,731 76,519 SEK 20,325 19,224 DKK 3,960 7,963 USD 5,171 70 Other 1,714 1,266 Total 105,900 105,042 Material items in accrued credits and deferred charges consist of prepaid expenses of purchase invoices, lease receivables and tax amortisations. Financial assets and liabilities by category are presented in note 29. Receivables from consumer product customers: Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2025 provisions provision receivables losses, % Not due 41,162 47 41,115 0.1 Overdue Less than 30 days 10,008 13 9,995 0.1 30–60 days 298 0 297 0.1 61–90 days 179 0 179 0.0 More than 90 days 731 343 388 47.0 Total 52,378 404 51,973 0.8 Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2024 provisions provision receivables losses, % Not due 39,420 26 39,394 0.1 Overdue Less than 30 days 8,299 5 8,293 0.1 30–60 days 516 0 516 0.1 61–90 days 78 19 58 25.0 More than 90 days 524 252 272 48.0 Total 48,837 303 48,534 0.6 The currency risk on receivables is a relatively low, because the majority of these currency denominated items are held by companies in their functional currency, except for receivables denominated in USD. Fair values do not deviate significantly from balance sheet values. The maximum credit risk for loans and other receivables is equivalent to their balance sheet value. 124CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Receivables from primary production: Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2025 provisions provision receivables losses, % Not due 28,902 60 28,842 0.2 Overdue Less than 30 days 2,184 5 2,179 0.2 30–60 days 480 1 479 0.2 61–90 days 110 24 87 21.5 More than 90 days 1,903 877 1,025 46.1 Total 33,580 968 32,612 2.9 Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2024 provisions provision receivables losses, % Not due 26,588 43 26,545 0.2 Overdue Less than 30 days 2,333 4 2,329 0.2 30–60 days 678 1 677 0.2 61–90 days 171 0 171 0.2 More than 90 days 2,048 704 1,344 34.4 Total 31,819 752 31,066 2.4 Loan receivables: At the end of the financial period, loan receivables from primary production customers were EUR 3.9 million (EUR 3.7 million). The net effect of credit loss entries on loan receivables was EUR -0.2 million (EUR +0.2 million). Advances received: At the end of the financial period, advances from primary production customers amounted to EUR 5.2 million (EUR 3.2 million). Seen note 28 for details. 21. CASH AND CASH EQUIVALENTS EUR 1,000 2025 2024 Cash in hand and at banks 30,903 19,911 22. SHAREHOLDERS’ EQUITY EUR 1,000 Shares and share capital: Shares are divided into A and KII series, which differ in terms of voting rights. A series shares have one vote per share and KII series shares have ten votes per share. A series shares have a right of priority to a dividend of EUR 0.17, after which series KII shares are paid a dividend of up to EUR 0.17. If there is still more dividend available for distribution, A and KII series shares have the same entitlement to the dividend. All issued shares have been paid in full. The share has no nominal value or a maximum number. Number of shares outstanding (1,000) A series KII series Total 1 Jan 2024 18,953 9,204 28,157 Share incentives 2021, 2022 and 2023 * 23 23 31 Dec 2024 18,976 9,204 28,180 Share incentives 2022, 2023 and 2024 * 24 24 31 Dec 2025 19,000 9,204 28,204 * See note 23 for details. Reserves included in shareholders’ equity : Invested unrestricted equity fund This reserve contains other equity investments and the share subscription price to the extent that it is not recognised in share capital according to a separate decision, as well as the value of shares earned based on the share incentive scheme, calculated at the rate of the grant date and the acquisition cost of own shares held by the Group. During 2023, Atria Plc acquired additional 100,000 series A shares with acquisition cost of EUR 1.1 million. In 2025, 24 283 own shares were handed over as part of the share bonus system for the CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Receivables from primary production: Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2025 provisions provision receivables losses, % Not due 28,902 60 28,842 0.2 Overdue Less than 30 days 2,184 5 2,179 0.2 30–60 days 480 1 479 0.2 61–90 days 110 24 87 21.5 More than 90 days 1,903 877 1,025 46.1 Total 33,580 968 32,612 2.9 Breakdown of trade receivables Trade by age and receivables Credit Net Expected expected credit losses in before loss trade credit 2024 provisions provision receivables losses, % Not due 26,588 43 26,545 0.2 Overdue Less than 30 days 2,333 4 2,329 0.2 30–60 days 678 1 677 0.2 61–90 days 171 0 171 0.2 More than 90 days 2,048 704 1,344 34.4 Total 31,819 752 31,066 2.4 Loan receivables: At the end of the financial period, loan receivables from primary production customers were EUR 3.9 million (EUR 3.7 million). The net effect of credit loss entries on loan receivables was EUR -0.2 million (EUR +0.2 million). Advances received: At the end of the financial period, advances from primary production customers amounted to EUR 5.2 million (EUR 3.2 million). Seen note 28 for details. 21. CASH AND CASH EQUIVALENTS EUR 1,000 2025 2024 Cash in hand and at banks 30,903 19,911 22. SHAREHOLDERS’ EQUITY EUR 1,000 Shares and share capital: Shares are divided into A and KII series, which differ in terms of voting rights. A series shares have one vote per share and KII series shares have ten votes per share. A series shares have a right of priority to a dividend of EUR 0.17, after which series KII shares are paid a dividend of up to EUR 0.17. If there is still more dividend available for distribution, A and KII series shares have the same entitlement to the dividend. All issued shares have been paid in full. The share has no nominal value or a maximum number. Number of shares outstanding (1,000) A series KII series Total 1 Jan 2024 18,953 9,204 28,157 Share incentives 2021, 2022 and 2023 * 23 23 31 Dec 2024 18,976 9,204 28,180 Share incentives 2022, 2023 and 2024 * 24 24 31 Dec 2025 19,000 9,204 28,204 * See note 23 for details. Reserves included in shareholders’ equity : Invested unrestricted equity fund This reserve contains other equity investments and the share subscription price to the extent that it is not recognised in share capital according to a separate decision, as well as the value of shares earned based on the share incentive scheme, calculated at the rate of the grant date and the acquisition cost of own shares held by the Group. During 2023, Atria Plc acquired additional 100,000 series A shares with acquisition cost of EUR 1.1 million. In 2025, 24 283 own shares were handed over as part of the share bonus system for the 125CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Group's key personnel (23,045). At the end of the year, the parent company held a total of 63,774 own shares (88,057 shares). Other funds 2025 2024 Fair value fund Change in fair value of financial assets 0 -437 Hedging fund Effective portion of FX and commodity derivatives -631 -3,282 Effective portion of interest rate derivatives 772 2,092 Deferred tax -24 240 Total hedging fund 116 -951 Total other funds 116 -1,388 The other funds item includes the fair value reserve and hedging fund. Financial assets at fair value through other comprehensive income are recognised in the fair value reserve . Other funds item also includes a hedge fund in which the effective portions of changes in the fair value of the derivative financial instruments used for hedging are recognised. Hedge accounting results for currency and commodity derivatives are transfer red from equity to the income statement for adjustment of purchase expenses and, correspondingly, the hedging result for interest rate derivatives is transferred for adjustment of interest expenses. During the financial period, the impairment of the shares in Majakka Voima Oy was determined to be permanent following the discontinuation of the company’s operations . Translation differences: The following are recognised: the translation differences from the translation of the financial statements of foreign subsidiaries, as well as the translation of fair value adjustments of goodwill, assets and liabilities arising in conjunction with the acq uisition of the said companies. Profits and losses arising from hedges of net investments in foreign operations are also recognised as translation differences when the hedge accounting criteria are met. Dividend per share and capital return paid for the period 2025 2024 Dividend/share, EUR 0.69 0.30 Capital return/share, EUR 0.00 0.30 Dividend distributed by the parent company 19,461 8,453 Capital return distributed by the parent company 0 8,453 The Board's proposal on dividend for 2025 0.75 Share of non-controlling interest 2025 2024 Non-controlling interest 1 Jan 21,289 22,389 Profit for the period 2,864 3,342 Distribution of dividend -1,345 -2,133 Acquisition of minority share * 0 -2,310 Non-controlling interest 31 Dec 22,807 21,289 * In 2024, Atria acquired 10 percent of the share capital of Kaivon Liha Kaunismaa Oy (Well Beef Ltd) and now owns 100 percent of company's shares. In 2016, Atria acquired 70 percent of the shares in Kaivon Liha and 20 percent in 2021. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Group's key personnel (23,045). At the end of the year, the parent company held a total of 63,774 own shares (88,057 shares). Other funds 2025 2024 Fair value fund Change in fair value of financial assets 0 -437 Hedging fund Effective portion of FX and commodity derivatives -631 -3,282 Effective portion of interest rate derivatives 772 2,092 Deferred tax -24 240 Total hedging fund 116 -951 Total other funds 116 -1,388 The other funds item includes the fair value reserve and hedging fund. Financial assets at fair value through other comprehensive income are recognised in the fair value reserve . Other funds item also includes a hedge fund in which the effective portions of changes in the fair value of the derivative financial instruments used for hedging are recognised. Hedge accounting results for currency and commodity derivatives are transfer red from equity to the income statement for adjustment of purchase expenses and, correspondingly, the hedging result for interest rate derivatives is transferred for adjustment of interest expenses. During the financial period, the impairment of the shares in Majakka Voima Oy was determined to be permanent following the discontinuation of the company’s operations . Translation differences: The following are recognised: the translation differences from the translation of the financial statements of foreign subsidiaries, as well as the translation of fair value adjustments of goodwill, assets and liabilities arising in conjunction with the acq uisition of the said companies. Profits and losses arising from hedges of net investments in foreign operations are also recognised as translation differences when the hedge accounting criteria are met. Dividend per share and capital return paid for the period 2025 2024 Dividend/share, EUR 0.69 0.30 Capital return/share, EUR 0.00 0.30 Dividend distributed by the parent company 19,461 8,453 Capital return distributed by the parent company 0 8,453 The Board's proposal on dividend for 2025 0.75 Share of non-controlling interest 2025 2024 Non-controlling interest 1 Jan 21,289 22,389 Profit for the period 2,864 3,342 Distribution of dividend -1,345 -2,133 Acquisition of minority share * 0 -2,310 Non-controlling interest 31 Dec 22,807 21,289 * In 2024, Atria acquired 10 percent of the share capital of Kaivon Liha Kaunismaa Oy (Well Beef Ltd) and now owns 100 percent of company's shares. In 2016, Atria acquired 70 percent of the shares in Kaivon Liha and 20 percent in 2021. 126CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 23. SHARE-BASED PAYMENTS Atria Plc’s long-term incentive scheme 2025–2027 Atria has a new long-term incentive scheme for key persons for the 2025 –2027 period, approved by the Board of Directors of Atria Plc. The scheme replaces the long- term incentive scheme for 2024 –2026 announced on 20 December 2023, and the last two earning p eriods of that scheme, i.e. 2025 and 2026, will not commence. The scheme aims to align the goals of the company's owners and key personnel to increase the company's value in the long term, commit the key persons to implementing the company’s strategy and objectives and to pursue its long -term interest, and provide them with a competitive incentive scheme based on the earning and accumulation of the company's shares. Atria Plc’s long-term share-based incentive scheme based on performance for 2025 –2027 has one earning period covering the 2025 –2027 financial years. The rewards for this three -year earning period will be paid in full in 2028, partly in the company’s shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The criteria for the 2025 –2027 period are linked to earnings per share (EPS) (70%), organic growth (20%) and carbon dioxide emissions (10%). If a person’s employment or service relationship ends before the payment of the bonus, the bonus may not be paid. The aim of the new incentive scheme is to encourage Atria’s senior management to acquire the company’s shares, and to increase the company’s value through management decisions and actions over the long term. The target group of the share-based incentive scheme can include up to 40 people. Expenses related to the share-based incentive scheme are based on the maximum number of shares, i.e. 122,500 shares, and the total value of the rewards to be paid for the ear ning period is approximately EUR 2.0 million. EUR 0.4 million of these expenses is included in the result for the 2025 financial year. Atria Plc’s transitional share-based incentive scheme 2025–2026 In connection with the new long -term incentive scheme, the Board of Directors of Atria Plc has decided to establish a transitional share -based incentive scheme to facilitate the transition from the previous long-term incentive scheme to the new share -based incentive scheme based on performance. The transitional share-based incentive scheme 2025–2026 has two earning periods, the first of which started on 1 January 2025 and ended on 31 December 2025. The bonuses for this earning period will be paid in full in 2026 partly in company shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The Board of Directors decides annually on starting the earning periods and their details. The performance criteria for the earning period 2025 are linked to earnings per share EPS (70%) and organic growth (30%) in accordance with the current share -based incentive scheme. The target group of the share-based incentive scheme can include up to 40 people. Expenses related to the share-based incentive scheme are based on the maximum number of shares, i.e. 40,826 shares, and the total value of the rewards to be paid for the earn ing period is approximately EUR 0.6 million. EUR 0.6 million of these expenses is included in the result for the 2025 financial year. In 2025, the amount of remuneration paid under the share -based incentive schemes was approximately EUR 0.7 million. Atria Plc’s 2026–2028 long-term incentive scheme Atria Plc’s Board of Directors have decided to set up a new share- based incentive scheme based on performance for the Group's key personnel. The scheme aims to align the goals of the company's owners and key personnel to increase the company's value in the long term, commit the key persons to implementing the company’s strategy and objectives and to pursue its long -term interest, and provide them with a competitive incentive scheme based on earning and accumulating the company's shares. Atria Plc’s long-term share-based incentive scheme based on performance for 2026 –2028 has one earning period covering the 2026 –2028 financial years. The rewards for this three -year earning period will be paid in full in 2029, partly in the company’s shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The criteria for the 2026 –2028 period are linked to earnings per share (EPS) (70%), organic growth (20%) and carbon dioxide emissions (10%). In addition, a separate adjustment factor is applied during the earning period. Its criteria are product exports and cross-border sales. The achievement of the targets for the criteria can at most double the bonus. If a person’s employment or service relationsh ip ends before the payment of the bonus, the bonus may not be paid. The target group of the share-based incentive scheme can include up to 50 people. Expenses related to the share-based incentive scheme are based on the maximum number of shares, i.e. 320,000 shares, and the total value of the bonus to be paid for the earni ng period is approximately EUR 5 million. EUR 0.0 million of these expenses are included in the result for the 2025 financial year. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 23. SHARE-BASED PAYMENTS Atria Plc’s long-term incentive scheme 2025–2027 Atria has a new long-term incentive scheme for key persons for the 2025 –2027 period, approved by the Board of Directors of Atria Plc. The scheme replaces the long- term incentive scheme for 2024 –2026 announced on 20 December 2023, and the last two earning p eriods of that scheme, i.e. 2025 and 2026, will not commence. The scheme aims to align the goals of the company's owners and key personnel to increase the company's value in the long term, commit the key persons to implementing the company’s strategy and objectives and to pursue its long -term interest, and provide them with a competitive incentive scheme based on the earning and accumulation of the company's shares. Atria Plc’s long-term share-based incentive scheme based on performance for 2025 –2027 has one earning period covering the 2025 –2027 financial years. The rewards for this three -year earning period will be paid in full in 2028, partly in the company’s shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The criteria for the 2025 –2027 period are linked to earnings per share (EPS) (70%), organic growth (20%) and carbon dioxide emissions (10%). If a person’s employment or service relationship ends before the payment of the bonus, the bonus may not be paid. The aim of the new incentive scheme is to encourage Atria’s senior management to acquire the company’s shares, and to increase the company’s value through management decisions and actions over the long term. The target group of the share-based incentive scheme can include up to 40 people. Expenses related to the share-based incentive scheme are based on the maximum number of shares, i.e. 122,500 shares, and the total value of the rewards to be paid for the ear ning period is approximately EUR 2.0 million. EUR 0.4 million of these expenses is included in the result for the 2025 financial year. Atria Plc’s transitional share-based incentive scheme 2025–2026 In connection with the new long -term incentive scheme, the Board of Directors of Atria Plc has decided to establish a transitional share -based incentive scheme to facilitate the transition from the previous long-term incentive scheme to the new share -based incentive scheme based on performance. The transitional share-based incentive scheme 2025–2026 has two earning periods, the first of which started on 1 January 2025 and ended on 31 December 2025. The bonuses for this earning period will be paid in full in 2026 partly in company shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The Board of Directors decides annually on starting the earning periods and their details. The performance criteria for the earning period 2025 are linked to earnings per share EPS (70%) and organic growth (30%) in accordance with the current share -based incentive scheme. The target group of the share-based incentive scheme can include up to 40 people. Expenses related to the share-based incentive scheme are based on the maximum number of shares, i.e. 40,826 shares, and the total value of the rewards to be paid for the earn ing period is approximately EUR 0.6 million. EUR 0.6 million of these expenses is included in the result for the 2025 financial year. In 2025, the amount of remuneration paid under the share -based incentive schemes was approximately EUR 0.7 million. Atria Plc’s 2026–2028 long-term incentive scheme Atria Plc’s Board of Directors have decided to set up a new share- based incentive scheme based on performance for the Group's key personnel. The scheme aims to align the goals of the company's owners and key personnel to increase the company's value in the long term, commit the key persons to implementing the company’s strategy and objectives and to pursue its long -term interest, and provide them with a competitive incentive scheme based on earning and accumulating the company's shares. Atria Plc’s long-term share-based incentive scheme based on performance for 2026 –2028 has one earning period covering the 2026 –2028 financial years. The rewards for this three -year earning period will be paid in full in 2029, partly in the company’s shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The criteria for the 2026 –2028 period are linked to earnings per share (EPS) (70%), organic growth (20%) and carbon dioxide emissions (10%). In addition, a separate adjustment factor is applied during the earning period. Its criteria are product exports and cross-border sales. The achievement of the targets for the criteria can at most double the bonus. If a person’s employment or service relationsh ip ends before the payment of the bonus, the bonus may not be paid. The target group of the share-based incentive scheme can include up to 50 people. Expenses related to the share-based incentive scheme are based on the maximum number of shares, i.e. 320,000 shares, and the total value of the bonus to be paid for the earni ng period is approximately EUR 5 million. EUR 0.0 million of these expenses are included in the result for the 2025 financial year. 127CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 24. LOANS EUR 1,000 2025 2024 Balance Balance sheet value sheet value Non-current: Loans from financial institutions 226,026 253,556 Current: Loans from financial institutions 2,784 2,890 Other loans 2,246 1,901 Total 5,030 4,792 Loans total 231,056 258,348 The fair values of loans do not deviate significantly from the balance sheet values. Financial liabilities by category are presented in note 29. With fixed interest rates, % 47.6 34.9 With variable interest rates, % 52.4 65.1 Average interest rate, % 3.36 3.76 2025 2024 Long-term loans mature as follows (EUR 1,000): 2026 915 2027 1,487 30,609 2028 119,098 120,335 2029 50,641 100,289 2030 50,603 Later 4,196 1,408 Total 226,026 253,556 Short-term and long-term loans by currency (EUR 1,000): EUR 192,986 188,952 SEK 21,323 44,703 DKK 16,747 24,693 Total 231,056 258,348 Part of the euro-denominated debt has been converted into foreign -currency-denominated debt with forward exchange agreements. The loans have floating interest rates, so they are at market value. A specific portion of the loans has been converted into fixed rate using interest rate derivatives, which are always valued at market value. Total Other Reconciliation of loans (1,000 EUR) 2024 Proceeds Repayments cash flows changes 2025 Long-term loans 253,556 6,000 -33,530 -27,530 226,026 Short-term loans Proceeds from long-term borrowings 2,048 0 732 2,780 Short-term loans 2,743 72,660 -72,421 239 -733 2,250 Total Short-term loans 4,792 72,660 -72,421 239 -1 5,030 Total 258,348 78,660 -105,951 -27,291 -1 231,056 CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 24. LOANS EUR 1,000 2025 2024 Balance Balance sheet value sheet value Non-current: Loans from financial institutions 226,026 253,556 Current: Loans from financial institutions 2,784 2,890 Other loans 2,246 1,901 Total 5,030 4,792 Loans total 231,056 258,348 The fair values of loans do not deviate significantly from the balance sheet values. Financial liabilities by category are presented in note 29. With fixed interest rates, % 47.6 34.9 With variable interest rates, % 52.4 65.1 Average interest rate, % 3.36 3.76 2025 2024 Long-term loans mature as follows (EUR 1,000): 2026 915 2027 1,487 30,609 2028 119,098 120,335 2029 50,641 100,289 2030 50,603 Later 4,196 1,408 Total 226,026 253,556 Short-term and long-term loans by currency (EUR 1,000): EUR 192,986 188,952 SEK 21,323 44,703 DKK 16,747 24,693 Total 231,056 258,348 Part of the euro-denominated debt has been converted into foreign -currency-denominated debt with forward exchange agreements. The loans have floating interest rates, so they are at market value. A specific portion of the loans has been converted into fixed rate using interest rate derivatives, which are always valued at market value. Total Other Reconciliation of loans (1,000 EUR) 2024 Proceeds Repayments cash flows changes 2025 Long-term loans 253,556 6,000 -33,530 -27,530 226,026 Short-term loans Proceeds from long-term borrowings 2,048 0 732 2,780 Short-term loans 2,743 72,660 -72,421 239 -733 2,250 Total Short-term loans 4,792 72,660 -72,421 239 -1 5,030 Total 258,348 78,660 -105,951 -27,291 -1 231,056 128CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 25. LEASE LIABILITIES EUR 1,000 2025 2024 Lease liabilities Long-term 9,589 14,239 Short-term 8,962 9,105 Total 18,552 23,345 Reconciliation of lease liabilities: Liabilities 1 Jan 23,345 Payments/other changes -10,555 Increases 5,763 Liabilities 31 Dec 18,552 The interest expenses from lease liabilities recognised during the period were EUR 0.5 million (EUR 0.5 million). A maturity analysis of payments related to lease liabilities is presented in note 29. 26. PENSION OBLIGATIONS EUR 1,000 2025 2024 The defined benefit pension obligation on the balance sheet is determined as follows: Present value of funded obligations 4,811 5,318 Present value of funded obligations Deficit (+) / Surplus (-) 4,811 5,318 Pension obligation in the balance sheet 4,811 5,318 Benefits paid -237 -230 Interest expenses 158 170 Pension costs in the profit and loss account -78 -60 Items recognised in other items of total comprehensive income due to reassessment -678 696 Pension costs in total comprehensive income -678 696 Changes to liabilities in the balance sheet: Liability of the ITP2 pension arrangement on Jan 1 5,318 4,735 Pension costs in the income statement and total comprehensive income -756 636 Exchange rate differences 291 -54 At the end of the period, on 31 Dec 4,754 5,318 Actuarial assumptions used (%): Discount rate 3.70 3.00 Inflation rate 1.70 1.80 The Group’s Swedish companies have defined benefit pension arrangements (ITP2). Most of the ITP2 pension arrangements are provided by the occupational pension insurance company Alecta as multi - employer arrangements, so the funds and liabilities within them cannot be allocated to an individual company. Therefore, the ITP2 pension arrangements managed by Alecta are treated as defined contribution plans in the financial statements. The remaining ITP2 pension arrangements are financed through the FPG/PRI system, and they are treated as defined benefit plans. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 25. LEASE LIABILITIES EUR 1,000 2025 2024 Lease liabilities Long-term 9,589 14,239 Short-term 8,962 9,105 Total 18,552 23,345 Reconciliation of lease liabilities: Liabilities 1 Jan 23,345 Payments/other changes -10,555 Increases 5,763 Liabilities 31 Dec 18,552 The interest expenses from lease liabilities recognised during the period were EUR 0.5 million (EUR 0.5 million). A maturity analysis of payments related to lease liabilities is presented in note 29. 26. PENSION OBLIGATIONS EUR 1,000 2025 2024 The defined benefit pension obligation on the balance sheet is determined as follows: Present value of funded obligations 4,811 5,318 Present value of funded obligations Deficit (+) / Surplus (-) 4,811 5,318 Pension obligation in the balance sheet 4,811 5,318 Benefits paid -237 -230 Interest expenses 158 170 Pension costs in the profit and loss account -78 -60 Items recognised in other items of total comprehensive income due to reassessment -678 696 Pension costs in total comprehensive income -678 696 Changes to liabilities in the balance sheet: Liability of the ITP2 pension arrangement on Jan 1 5,318 4,735 Pension costs in the income statement and total comprehensive income -756 636 Exchange rate differences 291 -54 At the end of the period, on 31 Dec 4,754 5,318 Actuarial assumptions used (%): Discount rate 3.70 3.00 Inflation rate 1.70 1.80 The Group’s Swedish companies have defined benefit pension arrangements (ITP2). Most of the ITP2 pension arrangements are provided by the occupational pension insurance company Alecta as multi - employer arrangements, so the funds and liabilities within them cannot be allocated to an individual company. Therefore, the ITP2 pension arrangements managed by Alecta are treated as defined contribution plans in the financial statements. The remaining ITP2 pension arrangements are financed through the FPG/PRI system, and they are treated as defined benefit plans. 129CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 27. OTHER NON-CURRENT LIABILITIES AND PROVISIONS EUR 1,000 2025 2024 Other non-current liabilities: Other liabilities * 7,431 7,343 Derivative instruments (in hedge accounting) 422 1,074 Derivative instruments - not in hedge accounting 0 0 Accruals and deferred income 790 57 Total 8,643 8,475 * Other liabilities include EUR 6.6 million (EUR 6.7 million) of the put option related to the minority shares in the subsidiaries. Other non-current liabilities are mainly in euros. Financial liabilities by type are presented in note 29. Provisions: 2025 Provisions 1 Jan 2025 58 Cost of goods sold Renewing the production line -58 Other operating expenses Demolition and Restoration of the Kelloniemi Plant, Kuopio 3118 Provisions 31 Dec 2025 3,118 28. CURRENT TRADE AND OTHER PAYABLES EUR 1,000 2025 2024 119,482 111,692 Advances received (note 20) 5,241 3,175 Other liabilities 54,220 50,228 Derivative instruments (in hedge accounting) 875 2,615 Derivative instruments (not in hedge accounting) 397 117 Accruals and deferred income 61,598 62,381 Total 241,812 230,208 Material items in accrued liabilities consist of personnel expenses and the amortisation of debt interests. Financial liabilities by type are presented in note 29. Current liabilities by currency: EUR 178,479 172,989 SEK 54,437 49,899 DKK 7,687 6,188 PLN 921 910 USD 220 209 Other 69 14 Total 241,812 230,208 Supplier Financing Programme Atria Suomi Ltd and Atria Sverige AB have a supplier financing programme with one bank. However, the programme has only been utilized by Atria Sverige AB, and even then, its usage has been minimal. As of December 31, 2025, the total amount of accounts payable for Atria Sverige AB was 402.4. MSEK (EUR 37.2 million), and the debt arising from open purchase invoices in the supplier financing programme was 4.0 MSEK (EUR 0.4 million). In the supplier financing programme, Atria's suppliers leverage Atria's credit rating when selling their receivables to the bank. Once Atria approves the invoices, the bank pays the invoices promptly to the supplier without recourse, allowing the supplier to receive cash flows related to their sales receivables faster than without supplier financing. The payment terms within the programmes are 30 days, which does not significantly differ from the payment terms of other suppliers. The supplier bears the inte rest for the financed period. Open purchase invoices in the programme are presented as trade payables. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 27. OTHER NON-CURRENT LIABILITIES AND PROVISIONS EUR 1,000 2025 2024 Other non-current liabilities: Other liabilities * 7,431 7,343 Derivative instruments (in hedge accounting) 422 1,074 Derivative instruments - not in hedge accounting 0 0 Accruals and deferred income 790 57 Total 8,643 8,475 * Other liabilities include EUR 6.6 million (EUR 6.7 million) of the put option related to the minority shares in the subsidiaries. Other non-current liabilities are mainly in euros. Financial liabilities by type are presented in note 29. Provisions: 2025 Provisions 1 Jan 2025 58 Cost of goods sold Renewing the production line -58 Other operating expenses Demolition and Restoration of the Kelloniemi Plant, Kuopio 3118 Provisions 31 Dec 2025 3,118 28. CURRENT TRADE AND OTHER PAYABLES EUR 1,000 2025 2024 119,482 111,692 Advances received (note 20) 5,241 3,175 Other liabilities 54,220 50,228 Derivative instruments (in hedge accounting) 875 2,615 Derivative instruments (not in hedge accounting) 397 117 Accruals and deferred income 61,598 62,381 Total 241,812 230,208 Material items in accrued liabilities consist of personnel expenses and the amortisation of debt interests. Financial liabilities by type are presented in note 29. Current liabilities by currency: EUR 178,479 172,989 SEK 54,437 49,899 DKK 7,687 6,188 PLN 921 910 USD 220 209 Other 69 14 Total 241,812 230,208 Supplier Financing Program me Atria Suomi Ltd and Atria Sverige AB have a supplier financing programme with one bank. However, the programme has only been utilized by Atria Sverige AB, and even then, its usage has been minimal. As of December 31, 2025, the total amount of accounts payable for Atria Sverige AB was 402.4. MSEK (EUR 37.2 million), and the debt arising from open purchase invoices in the supplier financing programme was 4.0 MSEK (EUR 0.4 million). In the supplier financing programme, Atria's suppliers leverage Atria's credit rating when selling their receivables to the bank. Once Atria approves the invoices, the bank pays the invoices promptly to the supplier without recourse, allowing the supplier to receive cash flows related to their sales receivables faster than without supplier financing. The payment terms within the programmes are 30 days, which does not significantly differ from the payment terms of other suppliers. The supplier bears the inte rest for the financed period. Open purchase invoices in the programme are presented as trade payables. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 27. OTHER NON-CURRENT LIABILITIES AND PROVISIONS EUR 1,000 2025 2024 Other non-current liabilities: Other liabilities * 7,431 7,343 Derivative instruments (in hedge accounting) 422 1,074 Derivative instruments - not in hedge accounting 0 0 Accruals and deferred income 790 57 Total 8,643 8,475 * Other liabilities include EUR 6.6 million (EUR 6.7 million) of the put option related to the minority shares in the subsidiaries. Other non-current liabilities are mainly in euros. Financial liabilities by type are presented in note 29. Provisions: 2025 Provisions 1 Jan 2025 58 Cost of goods sold Renewing the production line -58 Other operating expenses Demolition and Restoration of the Kelloniemi Plant, Kuopio 3118 Provisions 31 Dec 2025 3,118 28. CURRENT TRADE AND OTHER PAYABLES EUR 1,000 2025 2024 119,482 111,692 Advances received (note 20) 5,241 3,175 Other liabilities 54,220 50,228 Derivative instruments (in hedge accounting) 875 2,615 Derivative instruments (not in hedge accounting) 397 117 Accruals and deferred income 61,598 62,381 Total 241,812 230,208 Material items in accrued liabilities consist of personnel expenses and the amortisation of debt interests. Financial liabilities by type are presented in note 29. Current liabilities by currency: EUR 178,479 172,989 SEK 54,437 49,899 DKK 7,687 6,188 PLN 921 910 USD 220 209 Other 69 14 Total 241,812 230,208 Supplier Financing Program me Atria Suomi Ltd and Atria Sverige AB have a supplier financing programme with one bank. However, the programme has only been utilized by Atria Sverige AB, and even then, its usage has been minimal. As of December 31, 2025, the total amount of accounts payable for Atria Sverige AB was 402.4. MSEK (EUR 37.2 million), and the debt arising from open purchase invoices in the supplier financing programme was 4.0 MSEK (EUR 0.4 million). In the supplier financing programme, Atria's suppliers leverage Atria's credit rating when selling their receivables to the bank. Once Atria approves the invoices, the bank pays the invoices promptly to the supplier without recourse, allowing the supplier to receive cash flows related to their sales receivables faster than without supplier financing. The payment terms within the programmes are 30 days, which does not significantly differ from the payment terms of other suppliers. The supplier bears the inte rest for the financed period. Open purchase invoices in the programme are presented as trade payables. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 27. OTHER NON-CURRENT LIABILITIES AND PROVISIONS EUR 1,000 2025 2024 Other non-current liabilities: Other liabilities * 7,431 7,343 Derivative instruments (in hedge accounting) 422 1,074 Derivative instruments - not in hedge accounting 0 0 Accruals and deferred income 790 57 Total 8,643 8,475 * Other liabilities include EUR 6.6 million (EUR 6.7 million) of the put option related to the minority shares in the subsidiaries. Other non-current liabilities are mainly in euros. Financial liabilities by type are presented in note 29. Provisions: 2025 Provisions 1 Jan 2025 58 Cost of goods sold Renewing the production line -58 Other operating expenses Demolition and Restoration of the Kelloniemi Plant, Kuopio 3118 Provisions 31 Dec 2025 3,118 28. CURRENT TRADE AND OTHER PAYABLES EUR 1,000 2025 2024 119,482 111,692 Advances received (note 20) 5,241 3,175 Other liabilities 54,220 50,228 Derivative instruments (in hedge accounting) 875 2,615 Derivative instruments (not in hedge accounting) 397 117 Accruals and deferred income 61,598 62,381 Total 241,812 230,208 Material items in accrued liabilities consist of personnel expenses and the amortisation of debt interests. Financial liabilities by type are presented in note 29. Current liabilities by currency: EUR 178,479 172,989 SEK 54,437 49,899 DKK 7,687 6,188 PLN 921 910 USD 220 209 Other 69 14 Total 241,812 230,208 Supplier Financing Programme Atria Suomi Ltd and Atria Sverige AB have a supplier financing programme with one bank. However, the programme has only been utilized by Atria Sverige AB, and even then, its usage has been minimal. As of December 31, 2025, the total amount of accounts payable for Atria Sverige AB was 402.4. MSEK (EUR 37.2 million), and the debt arising from open purchase invoices in the supplier financing programme was 4.0 MSEK (EUR 0.4 million). In the supplier financing programme, Atria's suppliers leverage Atria's credit rating when selling their receivables to the bank. Once Atria approves the invoices, the bank pays the invoices promptly to the supplier without recourse, allowing the supplier to receive cash flows related to their sales receivables faster than without supplier financing. The payment terms within the programmes are 30 days, which does not significantly differ from the payment terms of other suppliers. The supplier bears the inte rest for the financed period. Open purchase invoices in the programme are presented as trade payables. 130CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 29. FINANCIAL RISK MANAGEMENT The general principles of Atria’s financial risk management are defined in the treasury policy adopted by the Board of Directors. The Board has delegated the management of financial risks to the Treasury Committee, and the practical management of financial risks is carried out by the Group’s Treasury unit. The goal of financial risk management is to reduce the impact that price fluctuations in the financial markets and other uncertainty factors have on earnings, the balance sheet and cash flow, as well as t o ensure sufficient liquidity. Treasury, together with the business areas, aims to identify, assess and hedge against all risks in accordance with the treasury policy. The main risks related to financing are interest rate risk, currency risk, liquidity ris k, refinancing risk, and credit risk. Commodity risks and capital structure management are also discussed at the end of this section. Interest rate risk Interest rate risk is managed by dividing financing between floating -rate and fixed-rate instruments, and by hedging with interest rate derivatives. During the financial year, the Group used interest rate swaps to manage the interest rate risk. The Group links interest rate risk management to the interest cover ratio, which is the projected 12-month rolling EBITDA divided by the projected net interest expense. The lower the EBITDA in relation to net financing costs, the larger the share of debt that must have a fixed interest rate. Consolidated interest -bearing debt on the balance sheet date amounted to EUR 249.6 million (EUR 281.7 million). The interest-bearing debt includes EUR 231.1 million ( EUR 258.3 million) in loans and EUR 18.6 million (EUR 23.3 million) in lease liabilities. Fixed -interest loans amounted to EUR 110 million (EUR 90.2 million), or 47.6% (34.9%) of the loan portfolio. These loans have been converted to a fixed rate with interest rate derivatives. The ratio of debt with fixed an d floating interest rates is at the level defined by the Group's treasury policy. The interest rate risk is mainly related to the Group’s interest -bearing liabilities, because the amount of money market investments is low, as is the related interest rate risk. At the time of the financial statements, Atria Plc had two interest rate swap s of a notional amount of EUR 30 million each, and one interest rate swap with a notional amount of EUR 50 million. These are included in fixed -rate interest- bearing debt. Hedge accounting is applied to the interest rate swaps, and their details are as fol lows: • An interest rate swap of EUR 50 million for the period 30 June 2025 – 28 June 2030, where Atria pays a fixed interest rate of 2.20% and receives the 6 -month Euribor rate. The company uses the interest rate swap to hedge a loan of EUR 50 million with a floa ting interest rate that matures on 27 September 2030. • An interest rate swap of EUR 30 million for the period 31 October 2022 – 1 November 2027, where Atria pays a fixed interest rate of 0.182% and receives the 6 -month Euribor rate. The company uses the interest rate swap to hedge EUR 30 million of a EUR 60 mi llion loan with a floating interest rate that matures on 2 May 2028. • An interest rate swap of EUR 30 million for the period 2 May 2023 – 2 May 2028, where Atria pays a fixed interest rate of 2.999% and receives the 6 -month Euribor rate. The company uses the interest rate swap to hedge EUR 30 million of a EUR 60 million loan with a floating interest rate that matures on 2 May 2028. The sensitivity analysis of net interest rate expenses is based on a 2% fluctuation in interest rates, which is considered reasonably realistic. It is calculated for year- end interest-bearing, floating-rate net liabilities (including interest rate swaps of EUR 110 million) that are expected to remain the same over the financial period. In simulations, the same interest rate fluctuation is used for all currencies. On 31 December 2025, net floating-rate liabilities, excluding lease liabilities, totalled EUR 9 0.2 million (EUR 148.2 million). At the end of 2025, a +/ -2% fluctuation in interest rates would have corresponded to a change of EUR +/-1.8 million in the Group’s annual interest rate expenses (EUR +/ -3.0 million). If the interest rate increased by 2%, the impact on equit y would be an increase of EUR 5.5 million (EUR 4.4 million), while a decrease of 2% would have an impact of EUR −6.1 million (EUR −4.8 million). Currency risk Atria Group operates in many currency zones and is exposed to currency -related risks. Currency risks arise from expected business transactions, assets and liabilities recognised on the balance sheet, and net investments in foreign subsidiaries. The subsidi aries hedge the currency risk related to commercial items in accordance with the currency risk policy for each business area. Each currency risk policy has been approved by the Treasury Committee. In Finland and Sweden, hedge accounting is applied to the currency hedges mentioned above. Currency risk is monitored based on a rolling 12 -month forecast cash flow, and hedges are made for periods of 1−6 months using currency forwards, during which the he dged cash flows are expected to materialise and affect profit or loss. Transaction risk is caused by euro -denominated meat raw material imports by Atria companies in Sweden, for example. In Atria’s Finland operations, currency flows and risks are relatively low, and are mainly related to exports denominated in USD and SEK. Most trade receivables in Atria’s operations are denominated in the units’ own operating currencies. The Group has net investments in foreign subsidiaries that are exposed to currency risks. The Treasury Committee decides on net investment hedges on a case -by-case basis. On the balance sheet date, there were no derivative agreements in force for net inves tment hedging. The parent company grants financing to the subsidiaries in their home currencies and has hedged the currency -denominated loan receivables from the subsidiaries with forward exchange agreements. During the financial year, translation differences recognised in the consolidated statement of comprehensive income amounted to EUR 6.1 million (EUR -3.4 million). CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 29. FINANCIAL RISK MANAGEMENT The general principles of Atria’s financial risk management are defined in the treasury policy adopted by the Board of Directors. The Board has delegated the management of financial risks to the Treasury Committee, and the practical management of financial risks is carried out by the Group’s Treasury unit. The goal of financial risk management is to reduce the impact that price fluctuations in the financial markets and other uncertainty factors have on earnings, the balance sheet and cash flow, as well as t o ensure sufficient liquidity. Treasury, together with the business areas, aims to identify, assess and hedge against all risks in accordance with the treasury policy. The main risks related to financing are interest rate risk, currency risk, liquidity ris k, refinancing risk, and credit risk. Commodity risks and capital structure management are also discussed at the end of this section. Interest rate risk Interest rate risk is managed by dividing financing between floating -rate and fixed-rate instruments, and by hedging with interest rate derivatives. During the financial year, the Group used interest rate swaps to manage the interest rate risk. The Group links interest rate risk management to the interest cover ratio, which is the projected 12-month rolling EBITDA divided by the projected net interest expense. The lower the EBITDA in relation to net financing costs, the larger the share of debt that must have a fixed interest rate. Consolidated interest -bearing debt on the balance sheet date amounted to EUR 249.6 million (EUR 281.7 million). The interest-bearing debt includes EUR 231.1 million ( EUR 258.3 million) in loans and EUR 18.6 million (EUR 23.3 million) in lease liabilities. Fixed -interest loans amounted to EUR 110 million (EUR 90.2 million), or 47.6% (34.9%) of the loan portfolio. These loans have been converted to a fixed rate with interest rate derivatives. The ratio of debt with fixed an d floating interest rates is at the level defined by the Group's treasury policy. The interest rate risk is mainly related to the Group’s interest -bearing liabilities, because the amount of money market investments is low, as is the related interest rate risk. At the time of the financial statements, Atria Plc had two interest rate swap s of a notional amount of EUR 30 million each, and one interest rate swap with a notional amount of EUR 50 million. These are included in fixed -rate interest- bearing debt. Hedge accounting is applied to the interest rate swaps, and their details are as fol lows: • An interest rate swap of EUR 50 million for the period 30 June 2025 – 28 June 2030, where Atria pays a fixed interest rate of 2.20% and receives the 6 -month Euribor rate. The company uses the interest rate swap to hedge a loan of EUR 50 million with a floa ting interest rate that matures on 27 September 2030. • An interest rate swap of EUR 30 million for the period 31 October 2022 – 1 November 2027, where Atria pays a fixed interest rate of 0.182% and receives the 6 -month Euribor rate. The company uses the interest rate swap to hedge EUR 30 million of a EUR 60 mi llion loan with a floating interest rate that matures on 2 May 2028. • An interest rate swap of EUR 30 million for the period 2 May 2023 – 2 May 2028, where Atria pays a fixed interest rate of 2.999% and receives the 6 -month Euribor rate. The company uses the interest rate swap to hedge EUR 30 million of a EUR 60 million loan with a floating interest rate that matures on 2 May 2028. The sensitivity analysis of net interest rate expenses is based on a 2% fluctuation in interest rates, which is considered reasonably realistic. It is calculated for year- end interest-bearing, floating-rate net liabilities (including interest rate swaps of EUR 110 million) that are expected to remain the same over the financial period. In simulations, the same interest rate fluctuation is used for all currencies. On 31 December 2025, net floating-rate liabilities, excluding lease liabilities, totalled EUR 9 0.2 million (EUR 148.2 million). At the end of 2025, a +/ -2% fluctuation in interest rates would have corresponded to a change of EUR +/-1.8 million in the Group’s annual interest rate expenses (EUR +/ -3.0 million). If the interest rate increased by 2%, the impact on equit y would be an increase of EUR 5.5 million (EUR 4.4 million), while a decrease of 2% would have an impact of EUR −6.1 million (EUR −4.8 million). Currency risk Atria Group operates in many currency zones and is exposed to currency -related risks. Currency risks arise from expected business transactions, assets and liabilities recognised on the balance sheet, and net investments in foreign subsidiaries. The subsidi aries hedge the currency risk related to commercial items in accordance with the currency risk policy for each business area. Each currency risk policy has been approved by the Treasury Committee. In Finland and Sweden, hedge accounting is applied to the currency hedges mentioned above. Currency risk is monitored based on a rolling 12 -month forecast cash flow, and hedges are made for periods of 1−6 months using currency forwards, during which the he dged cash flows are expected to materialise and affect profit or loss. Transaction risk is caused by euro -denominated meat raw material imports by Atria companies in Sweden, for example. In Atria’s Finland operations, currency flows and risks are relatively low, and are mainly related to exports denominated in USD and SEK. Most trade receivables in Atria’s operations are denominated in the units’ own operating currencies. The Group has net investments in foreign subsidiaries that are exposed to currency risks. The Treasury Committee decides on net investment hedges on a case -by-case basis. On the balance sheet date, there were no derivative agreements in force for net inves tment hedging. The parent company grants financing to the subsidiaries in their home currencies and has hedged the currency -denominated loan receivables from the subsidiaries with forward exchange agreements. During the financial year, translation differences recognised in the consolidated statement of comprehensive income amounted to EUR 6.1 million (EUR -3.4 million). 131CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators At the end of the financial period, if the euro had been 10% weaker/stronger than the Swedish krona (all other factors being equal), profit before taxes would have been EUR 0.6 million higher/lower due to the Swedish subsidiaries’ unhedged euro- denominated net position of accounts receivable and accounts payable (EUR 0.4 million). The effect on equity would have been EUR 2.4 million higher/lower ( EUR 1.5 million). Sensitivity analyses also take the effects of currency derivatives into account, which offset the effects of exchange rate fluctuations. Liquidity and refinancing risk Atria Plc’s Treasury raises the majority of the Group’s interest -bearing capital. Liquidity and refinancing risk is managed by ensuring a balanced maturity distribution of loans, maintaining sufficient committed credit facilities with sufficiently long val idity periods, using multiple financial institutions and financial instruments in the procurement of financing, and maintaining sufficient cash reserves. Atria uses commercial papers for short-term financing and liquidity management. There were undrawn com mitted credit facilities of EUR 50.0 million (EUR 50.0 million) at the end of the year. EUR 200.0 million of the EUR 200 million commercial paper programme had not been used at the end of the financial period (EUR 200.0 million). The average maturity of th e Group’s loans and committed credit facilities was 3 years 7 months (4 years 1 month). In loan agreements that include covenants, the most important is the minimum equity ratio covenant of 28%. The Group’s equity ratio has been around 40% for many years, and the Group will continue to ensure an equity ratio higher than the level required by the covenant. In accordance with the terms of the loan agreements, compliance with covenants is reported to financiers quarterly. According to the Group’s management, there was no significant liquidity accumulation in financial assets or financial sources. The table below shows the maturity analysis of financial liabilities and derivative instruments (undiscounted figures). The capital levies and revenue of derivative liabilities and assets are related to forward exchange agreements, and interest payments ar e related to interest rate swaps. EUR 1,000 Maturity, 31 Dec 2025 < 1 1-5 > 5 year years years Total Loans Instalments 5,030 221,830 4,196 231,056 Interest payments 8,105 20,017 73 28,196 Lease payments Instalments and interests 9,003 9,343 1,145 19,490 Derivative Electricity derivatives 875 83 0 958 financial Interest rate swaps 293 66 0 359 instruments * Currency derivatives** - Capital payments 102,939 0 0 102,939 - Capital income -102,417 0 0 -102,417 Other liabilities Instalments 1,582 7,431 0 9,013 Trade payables Payments 119,482 0 0 119,482 Total Total payments 247,309 258,770 5,414 511,493 Total income -102,417 0 0 -102,417 Net payments 144,893 258,770 5,414 409,077 EUR 1,000 Maturity, 31 Dec 2024 < 1 1-5 > 5 year years years Total Loans Instalments 4,972 252,725 651 258,348 Interest payments 10,813 32,491 61 43,365 Lease payments Instalments and interests 9,668 12,733 1,997 24,398 Derivative Electricity derivatives 2,516 995 0 3,511 financial Interest rate swaps 0 2,779 1,073 3,852 instruments* Currency derivatives** - Capital payments 102,386 0 0 102,386 - Capital income -102,258 0 0 -102,258 Other liabilities Instalments 1,609 7,343 0 8,953 Trade payables Payments 111,692 0 0 111,692 Total Total payments 243,656 309,066 3,783 556,504 Total income -102,258 0 0 -102,258 Net payments 141,398 309,066 3,783 454,246 * There is an agreement on the offsetting right with all derivative counterparties. The table presents derivative liabilities and assets gross amounts. If the amounts were offset, derivative liabilities would amount to EUR -0.3 million (-1,1 million). ** Forward exchange agreements implemented in gross amounts. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators At the end of the financial period, if the euro had been 10% weaker/stronger than the Swedish krona (all other factors being equal), profit before taxes would have been EUR 0.6 million higher/lower due to the Swedish subsidiaries’ unhedged euro- denominated net position of accounts receivable and accounts payable (EUR 0.4 million). The effect on equity would have been EUR 2.4 million higher/lower ( EUR 1.5 million). Sensitivity analyses also take the effects of currency derivatives into account, which offset the effects of exchange rate fluctuations. Liquidity and refinancing risk Atria Plc’s Treasury raises the majority of the Group’s interest -bearing capital. Liquidity and refinancing risk is managed by ensuring a balanced maturity distribution of loans, maintaining sufficient committed credit facilities with sufficiently long val idity periods, using multiple financial institutions and financial instruments in the procurement of financing, and maintaining sufficient cash reserves. Atria uses commercial papers for short-term financing and liquidity management. There were undrawn com mitted credit facilities of EUR 50.0 million (EUR 50.0 million) at the end of the year. EUR 200.0 million of the EUR 200 million commercial paper programme had not been used at the end of the financial period (EUR 200.0 million). The average maturity of th e Group’s loans and committed credit facilities was 3 years 7 months (4 years 1 month). In loan agreements that include covenants, the most important is the minimum equity ratio covenant of 28%. The Group’s equity ratio has been around 40% for many years, and the Group will continue to ensure an equity ratio higher than the level required by the covenant. In accordance with the terms of the loan agreements, compliance with covenants is reported to financiers quarterly. According to the Group’s management, there was no significant liquidity accumulation in financial assets or financial sources. The table below shows the maturity analysis of financial liabilities and derivative instruments (undiscounted figures). The capital levies and revenue of derivative liabilities and assets are related to forward exchange agreements, and interest payments ar e related to interest rate swaps. EUR 1,000 Maturity, 31 Dec 2025 < 1 1-5 > 5 year years years Total Loans Instalments 5,030 221,830 4,196 231,056 Interest payments 8,105 20,017 73 28,196 Lease payments Instalments and interests 9,003 9,343 1,145 19,490 Derivative Electricity derivatives 875 83 0 958 financial Interest rate swaps 293 66 0 359 instruments * Currency derivatives** - Capital payments 102,939 0 0 102,939 - Capital income -102,417 0 0 -102,417 Other liabilities Instalments 1,582 7,431 0 9,013 Trade payables Payments 119,482 0 0 119,482 Total Total payments 247,309 258,770 5,414 511,493 Total income -102,417 0 0 -102,417 Net payments 144,893 258,770 5,414 409,077 EUR 1,000 Maturity, 31 Dec 2024 < 1 1-5 > 5 year years years Total Loans Instalments 4,972 252,725 651 258,348 Interest payments 10,813 32,491 61 43,365 Lease payments Instalments and interests 9,668 12,733 1,997 24,398 Derivative Electricity derivatives 2,516 995 0 3,511 financial Interest rate swaps 0 2,779 1,073 3,852 instruments* Currency derivatives** - Capital payments 102,386 0 0 102,386 - Capital income -102,258 0 0 -102,258 Other liabilities Instalments 1,609 7,343 0 8,953 Trade payables Payments 111,692 0 0 111,692 Total Total payments 243,656 309,066 3,783 556,504 Total income -102,258 0 0 -102,258 Net payments 141,398 309,066 3,783 454,246 * There is an agreement on the offsetting right with all derivative counterparties. The table presents derivative liabilities and assets gross amounts. If the amounts were offset, derivative liabilities would amount to EUR -0.3 million (-1,1 million). ** Forward exchange agreements implemented in gross amounts. 132CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Credit risk Credit risk is managed at Group level in accordance with the Group’s risk management policy approved by the Board of Directors. The credit risk related to financing (counterparty risk) is managed by selecting only well-established highly rated counterparti es with good credit ratings. The Group’s liquid assets are only invested with counterparties that meet the criteria mentioned above. This is also the procedure when entering into financing and derivative agreements. The credit risk related to derivatives is also reduced by the fact that all payments related to interest rate derivatives are netted. Atria has only made derivatives with banks that are among Atria’s main lenders. The credit risk of the Group’s operative business is related to our customers, of which the main ones are large retail chains. Part of the Group’s trade receivables are related to feed and animal trading in primary production. The credit risk related to th is is higher, but also more dispersed. The Group’s trade receivables are also dispersed over several market areas and many customers. To secure the supply of domestically produced meat raw material in Finland, Atria has granted financing to meat producers. The interest-bearing loan receivables are primarily related to these loans. Credit loss risk is managed with securities such as credit insurance and bank guarantees, as well as with advance invoicing. A separate credit policy has been prepared for each business area that takes the special features of the market area into account. Credit risk is reviewed and monitored on a case - by-case basis for major customers and customer groups. More detailed information about trade receivables is provided in Note 20. Commodity risk The Group is exposed to commodity risks, most significantly to risks related to meat raw material and electricity. Fluctuations in the price of meat raw material affect profitability in the short term, but efforts are made to pass on any price increases to sales prices as soon as possible. Fluctuations in the price of electricity are hedged with forward electricity agreements in line with the Group’s electricity supply policy. Hedging levels in accordance with the policy are presented in the table below : Period Minimum Maximum hedging level hedging level 1-12 months 70% 100% 13-24 months 40% 80% 25-36 months 0% 50% 37-48 months 0% 40% 49-60 months 0% 30% Hedge accounting in accordance with IFRS is applied to electricity hedges. On 31 December 2025, the hedged volume was 527,963 MWh (385,439 MWh), with a nominal value of EUR 17.0 million (EUR 15.2 million). The value of the effective portion of electricity derivatives which meet the criteria for hedge accounting, EUR -0.4 million (EUR -3.0 million), was recognised in the equity hedge fund. If the market price for electricity derivatives were to change by +/ -10% from the level of 31 December 2025, the effect on equity would be EUR +/ -1.6 million (EUR +/-1.2 million), assuming that all hedges are 100% effective. Capital structure management In capital structure management, the Group aims to ensure normal operating conditions in all circumstances and to maintain an optimal capital structure in terms of capital costs. The Group monitors the development of its capital structure primarily through the equity ratio, for which the Group has set a target level of 40%. At this equity ratio, the company estimates the availability and total cost of new capital to be optimal. Equity ratio is affected by the balance sheet total and equity. The company is able to affect the balance sheet total and, thereby, the capital structure through the management of working capital, the amount of investments and the sale of business operatio ns or assets. Correspondingly, the company can affect the amount of its own equity through dividend distribution and share issues. The equity ratio was 45.7% (31 December 2024: 43.2%). To assess investments and divestments, the Group uses the Group’s weighted average cost of capital (WACC) as a reference. This way, the Group seeks to ensure that its assets generate at least an amount corresponding to the average cost of its capital. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Credit risk Credit risk is managed at Group level in accordance with the Group’s risk management policy approved by the Board of Directors. The credit risk related to financing (counterparty risk) is managed by selecting only well-established highly rated counterparti es with good credit ratings. The Group’s liquid assets are only invested with counterparties that meet the criteria mentioned above. This is also the procedure when entering into financing and derivative agreements. The credit risk related to derivatives is also reduced by the fact that all payments related to interest rate derivatives are netted. Atria has only made derivatives with banks that are among Atria’s main lenders. The credit risk of the Group’s operative business is related to our customers, of which the main ones are large retail chains. Part of the Group’s trade receivables are related to feed and animal trading in primary production. The credit risk related to th is is higher, but also more dispersed. The Group’s trade receivables are also dispersed over several market areas and many customers. To secure the supply of domestically produced meat raw material in Finland, Atria has granted financing to meat producers. The interest-bearing loan receivables are primarily related to these loans. Credit loss risk is managed with securities such as credit insurance and bank guarantees, as well as with advance invoicing. A separate credit policy has been prepared for each business area that takes the special features of the market area into account. Credit risk is reviewed and monitored on a case - by-case basis for major customers and customer groups. More detailed information about trade receivables is provided in Note 20. Commodity risk The Group is exposed to commodity risks, most significantly to risks related to meat raw material and electricity. Fluctuations in the price of meat raw material affect profitability in the short term, but efforts are made to pass on any price increases to sales prices as soon as possible. Fluctuations in the price of electricity are hedged with forward electricity agreements in line with the Group’s electricity supply policy. Hedging levels in accordance with the policy are presented in the table below : Period Minimum Maximum hedging level hedging level 1-12 months 70% 100% 13-24 months 40% 80% 25-36 months 0% 50% 37-48 months 0% 40% 49-60 months 0% 30% Hedge accounting in accordance with IFRS is applied to electricity hedges. On 31 December 2025, the hedged volume was 527,963 MWh (385,439 MWh), with a nominal value of EUR 17.0 million (EUR 15.2 million). The value of the effective portion of electricity derivatives which meet the criteria for hedge accounting, EUR -0.4 million (EUR -3.0 million), was recognised in the equity hedge fund. If the market price for electricity derivatives were to change by +/ -10% from the level of 31 December 2025, the effect on equity would be EUR +/ -1.6 million (EUR +/-1.2 million), assuming that all hedges are 100% effective. Capital structure management In capital structure management, the Group aims to ensure normal operating conditions in all circumstances and to maintain an optimal capital structure in terms of capital costs. The Group monitors the development of its capital structure primarily through the equity ratio, for which the Group has set a target level of 40%. At this equity ratio, the company estimates the availability and total cost of new capital to be optimal. Equity ratio is affected by the balance sheet total and equity. The company is able to affect the balance sheet total and, thereby, the capital structure through the management of working capital, the amount of investments and the sale of business operatio ns or assets. Correspondingly, the company can affect the amount of its own equity through dividend distribution and share issues. The equity ratio was 45.7% (31 December 2024: 43.2%). To assess investments and divestments, the Group uses the Group’s weighted average cost of capital (WACC) as a reference. This way, the Group seeks to ensure that its assets generate at least an amount corresponding to the average cost of its capital. 133CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Values of financial assets and liabilities by category: EUR 1,000 Recognised Recognised at fair Recognised at fair Derivatives at amortised value through value through total in hedge Balance sheet Balance sheet item 2025 cost profit or loss comprehensive income accounting value in total Non-current assets Trade receivables 4,771 0 0 0 4,771 Other financial assets 0 0 3,689 0 3,689 Loan receivables 1,014 0 0 0 1,014 Other receivables * 1,252 0 0 0 1,252 Derivative financial instruments 0 0 0 1,162 1,162 Current assets Trade receivables 79,814 0 0 0 79,814 Loan receivables 2,908 0 0 0 2,908 Other receivables * 2,699 0 0 0 2,699 Derivative financial instruments 0 57 0 269 325 Cash and cash equivalents 30,903 0 0 0 30,903 Total financial assets 123,362 57 3,689 1,430 128,538 Non-current liabilities Loans 226,026 0 0 0 226,026 Lease liabilities 9,589 0 0 0 9,589 Other liabilities ** 7,431 0 0 0 7,431 Derivative financial instruments 0 0 0 422 422 Current liabilities Loans 5,030 0 0 0 5,030 Lease liabilities 8,962 0 0 0 8,962 Trade payables 119,482 0 0 0 119,482 Other liabilities ** 1,682 0 0 0 1,682 Derivative financial instruments 0 397 0 875 1,272 Total financial liabilities 378,203 397 0 1,298 379,897 * Exclude VAT or income tax assets ** Exclude VAT or income tax liabilities 134CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators EUR 1,000 Recognised Recognised at fair Recognised at fair Derivatives at amortised value through value through total in hedge Balance sheet Balance sheet item 2024 cost profit or loss comprehensive income accounting value in total Non-current assets Trade receivables 4,355 0 0 0 4,355 Other financial assets 0 0 2,840 0 2,840 Loan receivables 1,191 0 0 0 1,191 Other receivables * 1,007 0 0 0 1,007 Derivative financial instruments 0 0 2,254 2,254 Current assets Trade receivables 75,246 0 0 0 75,246 Loan receivables 3,068 0 0 0 3,068 Other receivables * 2,202 0 0 0 2,202 Derivative financial instruments 0 364 0 137 501 Cash and cash equivalents 19,911 0 0 0 19,911 Total financial assets 106,979 364 2,840 2,390 112,573 Non-current liabilities Loans 253,556 0 0 0 253,556 Lease liabilities 14,239 0 0 0 14,239 Other liabilities ** 7,343 0 0 0 7,343 Derivative financial instruments 0 0 0 1,074 1,074 Current liabilities Loans 4,792 0 0 0 4,792 Lease liabilities 9,105 0 0 0 9,105 Trade payables 111,692 0 0 0 111,692 Other liabilities ** 1,609 0 0 0 1,609 Derivative financial instruments 0 117 0 2,615 2,732 Total financial liabilities 402,337 117 0 3,689 406,142 * Exclude VAT or income tax assets ** Exclude VAT or income tax liabilities 135CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Fair value hierarchy: EUR 1,000 Balance sheet item 2025 Level 1 Level 2 Level 3 Non-current assets Financial assets at fair value through other comprehensive income - Unlisted shares 3,689 3,689 Derivative financial instruments 1,162 1,162 Current assets Derivative financial instruments 325 325 Total 5,176 0 1,487 3,689 Non-current liabilities Derivative financial instruments 422 422 Current liabilities Derivative financial instruments 1,372 1,372 Total 1,795 0 1,795 0 Balance sheet item 2024 Level 1 Level 2 Level 3 Non-current assets Financial assets at fair value through other comprehensive income - Unlisted shares 2,840 2,840 Derivative financial instruments 2,254 2,254 Current assets Derivative financial instruments 501 501 Total 5,594 0 2,754 2,840 Non-current liabilities Derivative financial instruments 1,074 1,074 Current liabilities Derivative financial instruments 2,732 2,732 Total 3,806 0 3,806 0 Level 1: Prices listed on active markets for identical assets and liabilities The fair value of financial instruments traded in active markets is based on market prices listed on the closing date. Markets are regarded as active if listed prices are readily and regularly available from the stock exchange, broker, industry group, pric e information service or supervisory authority, and these prices represent actual and regularly occurring market events between independent parties. The current purchase price is used as the listed market price for financial assets. Level 2: Fair values can be determined either directly (i.e. as prices) or indirectly (i.e. derived from prices) A fair value is established through valuation techniques for financial instruments that are not traded in active markets (such as OTC derivatives). These valuation techniques make maximum use of observable market information, when available, and rely as li ttle as possible on company-specific assessments. If all significant input required for determining the fair value of the instrument is observable, the instrument is on level 2. Level 3: Fair values are not based on verifiable market prices If one or more significant piece of input information is not based on observable market information, the instrument is classified as level 3. Assessments by external parties are used to measure financial instruments and, if such assessments are not availab le, the company’s own calculations/assessments are used. Changes in financial instruments belonging to level 3: Unlisted shares 2025 2024 Opening balance 1 Jan 2,840 916 Increases 849 1,934 Decreases 0 -10 Closing balance 31 Dec 3,689 2,840 CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Fair value hierarchy: EUR 1,000 Balance sheet item 2025 Level 1 Level 2 Level 3 Non-current assets Financial assets at fair value through other comprehensive income - Unlisted shares 3,689 3,689 Derivative financial instruments 1,162 1,162 Current assets Derivative financial instruments 325 325 Total 5,176 0 1,487 3,689 Non-current liabilities Derivative financial instruments 422 422 Current liabilities Derivative financial instruments 1,372 1,372 Total 1,795 0 1,795 0 Balance sheet item 2024 Level 1 Level 2 Level 3 Non-current assets Financial assets at fair value through other comprehensive income - Unlisted shares 2,840 2,840 Derivative financial instruments 2,254 2,254 Current assets Derivative financial instruments 501 501 Total 5,594 0 2,754 2,840 Non-current liabilities Derivative financial instruments 1,074 1,074 Current liabilities Derivative financial instruments 2,732 2,732 Total 3,806 0 3,806 0 Level 1: Prices listed on active markets for identical assets and liabilities The fair value of financial instruments traded in active markets is based on market prices listed on the closing date. Markets are regarded as active if listed prices are readily and regularly available from the stock exchange, broker, industry group, pric e information service or supervisory authority, and these prices represent actual and regularly occurring market events between independent parties. The current purchase price is used as the listed market price for financial assets. Level 2: Fair values can be determined either directly (i.e. as prices) or indirectly (i.e. derived from prices) A fair value is established through valuation techniques for financial instruments that are not traded in active markets (such as OTC derivatives). These valuation techniques make maximum use of observable market information, when available, and rely as li ttle as possible on company-specific assessments. If all significant input required for determining the fair value of the instrument is observable, the instrument is on level 2. Level 3: Fair values are not based on verifiable market prices If one or more significant piece of input information is not based on observable market information, the instrument is classified as level 3. Assessments by external parties are used to measure financial instruments and, if such assessments are not availab le, the company’s own calculations/assessments are used. Changes in financial instruments belonging to level 3: Unlisted shares 2025 2024 Opening balance 1 Jan 2,840 916 Increases 849 1,934 Decreases 0 -10 Closing balance 31 Dec 3,689 2,840 136CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Derivative financial instruments: Fair values of derivative Derivative Derivative Net Net instruments assets liabilities fair value fair value EUR 1,000 2025 2025 2025 2024 Forward exchange agreements Cash flow hedges under hedge accounting 77 339 -262 -277 Other hedges 57 397 -340 136 Interest rate swaps agreements, due in more than one year Cash flow hedges under hedge accounting 772 772 2,092 Electricity derivatives Cash flow hedges under hedge accounting 581 958 -377 -3,001 Total 1,487 1,694 -207 -1,051 Nominal values of derivative financial instruments EUR 1,000 2025 2024 Forward exchange agreements Cash flow hedges under hedge accounting 40,033 31,822 Other hedges 60,649 70,553 Interest rate swaps Cash flow hedges under hedge accounting 110,000 90,000 Electricity derivatives Cash flow hedges under hedge accounting 16,972 15,228 Other hedges Total 227,655 207,602 30. CONTINGENT LIABILITIES EUR 1,000 2025 2024 Debts with mortgages or other collateral given as security Loans from financial institutions 8,806 6,443 Pension fund loans 4,534 4,791 Total 13,340 11,233 Mortgages and other securities given as comprehensive security Real estate mortgages 10,600 6,468 Corporate mortgages 3,600 2,500 Total 14,200 8,968 Contingent liabilities not included in the balance sheet Guarantees 7,341 96 31. RELATED PARTY TRANSACTIONS EUR 1,000 Atria Group’s related parties include the members of the Board of Directors and the Supervisory Board, the CEO, the Deputy CEO and other members of the Management team, their close family members and companies controlled by the aforementioned. Related parties include the Group’s joint ventures and associated companies, as well as the shareholding co -operatives Itikka Co-operative, Lihakunta and Pohjanmaan Liha Co-operative and the subsidiaries and associated companies of these co- operatives. Group companies, Group joint ventures and associates are presented in more detail in note 35. All business transactions that are entered into with related parties and are not eliminated in the consolidated financial statements are recognised as related party transactions. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Derivative financial instruments: Fair values of derivative Derivative Derivative Net Net instruments assets liabilities fair value fair value EUR 1,000 2025 2025 2025 2024 Forward exchange agreements Cash flow hedges under hedge accounting 77 339 -262 -277 Other hedges 57 397 -340 136 Interest rate swaps agreements, due in more than one year Cash flow hedges under hedge accounting 772 772 2,092 Electricity derivatives Cash flow hedges under hedge accounting 581 958 -377 -3,001 Total 1,487 1,694 -207 -1,051 Nominal values of derivative financial instruments EUR 1,000 2025 2024 Forward exchange agreements Cash flow hedges under hedge accounting 40,033 31,822 Other hedges 60,649 70,553 Interest rate swaps Cash flow hedges under hedge accounting 110,000 90,000 Electricity derivatives Cash flow hedges under hedge accounting 16,972 15,228 Other hedges Total 227,655 207,602 30. CONTINGENT LIABILITIES EUR 1,000 2025 2024 Debts with mortgages or other collateral given as security Loans from financial institutions 8,806 6,443 Pension fund loans 4,534 4,791 Total 13,340 11,233 Mortgages and other securities given as comprehensive security Real estate mortgages 10,600 6,468 Corporate mortgages 3,600 2,500 Total 14,200 8,968 Contingent liabilities not included in the balance sheet Guarantees 7,341 96 31. RELATED PARTY TRANSACTIONS EUR 1,000 Atria Group’s related parties include the members of the Board of Directors and the Supervisory Board, the CEO, the Deputy CEO and other members of the Management team, their close family members and companies controlled by the aforementioned. Related parties include the Group’s joint ventures and associated companies, as well as the shareholding co -operatives Itikka Co-operative, Lihakunta and Pohjanmaan Liha Co-operative and the subsidiaries and associated companies of these co- operatives. Group companies, Group joint ventures and associates are presented in more detail in note 35. All business transactions that are entered into with related parties and are not eliminated in the consolidated financial statements are recognised as related party transactions. 137CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Transactions with related Joint Other parties and related party ventures and related assets and liabilities associates party Total 1 Jan–31 Dec 2025 Sale of goods 5,103 15,453 20,556 Sale of services 2,184 175 2,359 Rental income 5,266 0 5,266 Interest income 74 74 Purchase of goods 15,717 25,507 41,224 Purchase of services 62,957 147 63,103 Rental costs * 6,507 7,198 13,704 Other expenses 31 Dec 2025 Trade receivables 599 1,515 2,114 Loan and other receivables 1 325 326 Interest-bearing liabilities 0 1,544 1,544 Trade payables 5,110 197 5,307 Transactions with related Joint Other parties and related party ventures and related assets and liabilities associates party Total 1 Jan–31 Dec 2024 Sale of goods 7,201 12,496 19,698 Sale of services 2,149 152 2,301 Rental income 5,572 0 5,572 Interest income 22 22 Purchase of goods 16,557 20,419 36,977 Purchase of services 61,715 131 61,846 Rental costs 6,587 6,135 12,722 31 Dec 2024 Trade receivables 1,173 1,192 2,365 Loan and other receivables 2 386 388 Interest-bearing liabilities 0 805 805 Trade payables 5,722 316 6,038 The sale of goods and services to related parties is based on the Group’s valid price lists. The largest expense item under purchase of services is formed by the logistics services purchased from Tuoretie Oy. * Rental costs include costs arising from the early termination of the lease agreement for the Kelloniemi site in Kuopio. Related Party Loans A subsidiary of Atria Plc has granted a loan to a related party company of a member of the Supervisory Board. The principal amount of the loan was EUR 102,350 as of December 31, 2025, with a remaining loan term of 3 years. The loan is repaid and interest is paid on the last day of each quarter. The interest rate on the loan is the 3 -month Euribor (360) + 3.0 percent but at least 6.0 percent. The loan is secured. A subsidiary of Atria Plc has granted a loan to a related party company of a member of the Supervisory Board. The principal amount of the loan was EUR 42,105 as of December 31, 2025, with a remaining loan term of 6 months. The loan is repaid and interest is paid on the last day of each quarter. The interest rate on the loan is the 3 -month Euribor (360) + 2.5 percent but at least 6.0 percent. The loan is secured. Employee benefits and fees of the Group’s key managerial personnel (on an accrual basis) 2025 2024 Short-term employee benefits 4,261 3,869 Post-employment benefits (group pension benefits) 350 324 Share-based incentives 240 383 Total 4,851 4,575 The key personnel in the Group’s management are the members of the Board of Directors and the Supervisory Board, the CEO, the Deputy CEO and the other members of the Management Team. For the CEO and Deputy CEO, the retirement age is 63 years. The retirement age specified in the pension insurance contract is subject to change in accordance with amendments to the statutory earnings-related pension legislation. Group pension benefits have been arranged for the members of the Management Team who are within the scope of Finnish social security. The retirement age of the group pension insurance is 63 years for the members of the Management Team. The pension plan is contribution defined, and the annual payment is based on the monthly salary (monetary salary and fringe benefits) of the insured. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Transactions with related Joint Other parties and related party ventures and related assets and liabilities associates party Total 1 Jan–31 Dec 2025 Sale of goods 5,103 15,453 20,556 Sale of services 2,184 175 2,359 Rental income 5,266 0 5,266 Interest income 74 74 Purchase of goods 15,717 25,507 41,224 Purchase of services 62,957 147 63,103 Rental costs * 6,507 7,198 13,704 Other expenses 31 Dec 2025 Trade receivables 599 1,515 2,114 Loan and other receivables 1 325 326 Interest-bearing liabilities 0 1,544 1,544 Trade payables 5,110 197 5,307 Transactions with related Joint Other parties and related party ventures and related assets and liabilities associates party Total 1 Jan–31 Dec 2024 Sale of goods 7,201 12,496 19,698 Sale of services 2,149 152 2,301 Rental income 5,572 0 5,572 Interest income 22 22 Purchase of goods 16,557 20,419 36,977 Purchase of services 61,715 131 61,846 Rental costs 6,587 6,135 12,722 31 Dec 2024 Trade receivables 1,173 1,192 2,365 Loan and other receivables 2 386 388 Interest-bearing liabilities 0 805 805 Trade payables 5,722 316 6,038 The sale of goods and services to related parties is based on the Group’s valid price lists. The largest expense item under purchase of services is formed by the logistics services purchased from Tuoretie Oy. * Rental costs include costs arising from the early termination of the lease agreement for the Kelloniemi site in Kuopio. Related Party Loans A subsidiary of Atria Plc has granted a loan to a related party company of a member of the Supervisory Board. The principal amount of the loan was EUR 102,350 as of December 31, 2025, with a remaining loan term of 3 years. The loan is repaid and interest is paid on the last day of each quarter. The interest rate on the loan is the 3 -month Euribor (360) + 3.0 percent but at least 6.0 percent. The loan is secured. A subsidiary of Atria Plc has granted a loan to a related party company of a member of the Supervisory Board. The principal amount of the loan was EUR 42,105 as of December 31, 2025, with a remaining loan term of 6 months. The loan is repaid and interest is paid on the last day of each quarter. The interest rate on the loan is the 3 -month Euribor (360) + 2.5 percent but at least 6.0 percent. The loan is secured. Employee benefits and fees of the Group’s key managerial personnel (on an accrual basis) 2025 2024 Short-term employee benefits 4,261 3,869 Post-employment benefits (group pension benefits) 350 324 Share-based incentives 240 383 Total 4,851 4,575 The key personnel in the Group’s management are the members of the Board of Directors and the Supervisory Board, the CEO, the Deputy CEO and the other members of the Management Team. For the CEO and Deputy CEO, the retirement age is 63 years. The retirement age specified in the pension insurance contract is subject to change in accordance with amendments to the statutory earnings-related pension legislation. Group pension benefits have been arranged for the members of the Management Team who are within the scope of Finnish social security. The retirement age of the group pension insurance is 63 years for the members of the Management Team. The pension plan is contribution defined, and the annual payment is based on the monthly salary (monetary salary and fringe benefits) of the insured. 138CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Incentive schemes for management Short-term incentive scheme The maximum bonus payable under Atria Plc’s short -term incentive scheme is 10–50% of an individual’s annual salary, depending on the performance impact and requirement level of each individual’s role. The criteria used in the performance bonus scheme are t he EBIT, net sales, and LTIFR at Group level and in the area of responsibility of the person concerned. In addition to the CEO and other members of the Management Team, Atria Plc’s performance bonus schemes cover approximately 40 people. Atria Plc’s long-term incentive scheme 2025–2027 Atria has a new long-term incentive scheme for key persons for the 2025 –2027 period, approved by the Board of Directors of Atria Plc. The scheme will replace the long -term incentive scheme for 2024 –2026 announced on 20 December 2023, and the last two vest ing periods of that scheme, i.e. 2025 and 2026, will not be started. The purpose of the scheme is to combine the goals of the company's owners and key persons to increase the company's value in the long term, to commit the key persons to implementing the company’s strategy, objectives and long -term interest, and to provide them with a competitive incentive scheme based on the earnings and accumulation of the company's shares. Atria Plc’s long-term share-based incentive scheme based on performance for 2025 –2027 has one earning period covering the 2025 –2027 financial years. The rewards for this three -year earning period will be paid in full in 2028, partly in the company’s shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The earnings criteria for the 2025 –2027 period are linked to earnings per share (EPS) (70%), organic growth (20%) and carbon dioxide emissions (10%). If a person’s employment or service relationship ends before the payment of the bonus, the bonus may not be paid. The aim of the new incentive scheme is to encourage Atria’s senior management to acquire the company’s shares, and to increase the company’s value through management decisions and actions over the long term. The target group for the share-based incentive scheme can contain up to 40 people. The maximum value of bonuses for the earning period is approximately EUR 2 million. Atria Plc’s transitional share-based incentive scheme 2025–2026 In connection with the new long -term incentive scheme, the Board of Directors of Atria Plc has decided to establish a transitional share -based incentive scheme to facilitate the transition from the previous long-term incentive scheme to the new share -based incentive scheme based on performance. The transitional share-based incentive scheme 2025–2026 has two earning periods, the first of which started on 1 January 2025 and ended on 31 December 2025. The bonuses for this earning period will be paid in full in 2026 partly in company shares and partly in cash. The cash component is intended to cover the taxes and tax-like charges arising from the bonus. The Board of Directors decides annually on starting the earning periods and their details. The performance criteria for the earning period 2025 are linked to earnings per share EPS (70%) and organic growth (30%) in accordance with the current share -based incentive scheme. The target group for the share-based incentive scheme can contain up to 40 people. In 2025, the amount of remuneration paid in accordance with the share -based incentive schemes was approximately EUR 0.7 million. Atria Plc’s long-term incentive scheme 2026–2028 The Board of Directors of Atria Plc has decided to establish a new performance -based share incentive plan for the Group’s key personnel. The purpose of the plan is to align the objectives of the company’s shareholders and key employees to increase the comp any’s long-term value, to commit key personnel to implementing the company’s strategy, objectives, and long -term interests, and to provide them with a competitive incentive system based on the earning and accumulation of the company’s shares. The performance-based share incentive plan for 2026 –2028 includes one earning period covering the financial years 2026–2028. Rewards for this three-year earning period will be paid in full in 2029, partly in the company’s shares and partly in cash. The cas h portion is intended to cover taxes and tax -like costs arising from the reward for the participant. The earning criteria for the 2026 –2028 period are tied to earnings per share (EPS) (70 percent), organic growth (20 percent), and carbon dioxide emissions (10 percent). In addition, a separate modifier will be applied, with criteria related to product exports and international sales (cross-border sales). Based on the achievement of the targets set for these criteria, the amount of rewards earned may be doubl ed at most. If the participant’s employment or service relationship ends before the reward is paid, the reward may be withheld. The target group of the share incentive plan includes up to 50 individuals. The total value of the rewards payable for the earning period is estimated to be approximately EUR 5 million. Restricted Share Unit Plan 2026 –2028 The Restricted Share Unit Plan 2026 –2028 is intended to be used as a tool in situations seen necessary by the Board of Directors, for example ensuring retention of key talents to the company, recruiting new talents or other specific situations determined b y the Board of Directors. The Restricted Share Unit Plan 2026 –2028 consists of one vesting period covering the financial years 2026–2028, during which the Board of Directors may allocate rewards from the plan. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators Incentive schemes for management Short-term incentive scheme The maximum bonus payable under Atria Plc’s short -term incentive scheme is 10–50% of an individual’s annual salary, depending on the performance impact and requirement level of each individual’s role. The criteria used in the performance bonus scheme are t he EBIT, net sales, and LTIFR at Group level and in the area of responsibility of the person concerned. In addition to the CEO and other members of the Management Team, Atria Plc’s performance bonus schemes cover approximately 40 people. Atria Plc’s long-term incentive scheme 2025–2027 Atria has a new long-term incentive scheme for key persons for the 2025 –2027 period, approved by the Board of Directors of Atria Plc. The scheme will replace the long -term incentive scheme for 2024 –2026 announced on 20 December 2023, and the last two vest ing periods of that scheme, i.e. 2025 and 2026, will not be started. The purpose of the scheme is to combine the goals of the company's owners and key persons to increase the company's value in the long term, to commit the key persons to implementing the company’s strategy, objectives and long -term interest, and to provide them with a competitive incentive scheme based on the earnings and accumulation of the company's shares. Atria Plc’s long-term share-based incentive scheme based on performance for 2025 –2027 has one earning period covering the 2025 –2027 financial years. The rewards for this three -year earning period will be paid in full in 2028, partly in the company’s shares and partly in cash. The cash sum is intended to cover the taxes and tax-like charges arising from the bonus. The earnings criteria for the 2025 –2027 period are linked to earnings per share (EPS) (70%), organic growth (20%) and carbon dioxide emissions (10%). If a person’s employment or service relationship ends before the payment of the bonus, the bonus may not be paid. The aim of the new incentive scheme is to encourage Atria’s senior management to acquire the company’s shares, and to increase the company’s value through management decisions and actions over the long term. The target group for the share-based incentive scheme can contain up to 40 people. The maximum value of bonuses for the earning period is approximately EUR 2 million. Atria Plc’s transitional share-based incentive scheme 2025–2026 In connection with the new long -term incentive scheme, the Board of Directors of Atria Plc has decided to establish a transitional share -based incentive scheme to facilitate the transition from the previous long-term incentive scheme to the new share -based incentive scheme based on performance. The transitional share-based incentive scheme 2025–2026 has two earning periods, the first of which started on 1 January 2025 and ended on 31 December 2025. The bonuses for this earning period will be paid in full in 2026 partly in company shares and partly in cash. The cash component is intended to cover the taxes and tax-like charges arising from the bonus. The Board of Directors decides annually on starting the earning periods and their details. The performance criteria for the earning period 2025 are linked to earnings per share EPS (70%) and organic growth (30%) in accordance with the current share -based incentive scheme. The target group for the share-based incentive scheme can contain up to 40 people. In 2025, the amount of remuneration paid in accordance with the share -based incentive schemes was approximately EUR 0.7 million. Atria Plc’s long-term incentive scheme 2026–2028 The Board of Directors of Atria Plc has decided to establish a new performance -based share incentive plan for the Group’s key personnel. The purpose of the plan is to align the objectives of the company’s shareholders and key employees to increase the comp any’s long-term value, to commit key personnel to implementing the company’s strategy, objectives, and long -term interests, and to provide them with a competitive incentive system based on the earning and accumulation of the company’s shares. The performance-based share incentive plan for 2026 –2028 includes one earning period covering the financial years 2026–2028. Rewards for this three-year earning period will be paid in full in 2029, partly in the company’s shares and partly in cash. The cas h portion is intended to cover taxes and tax -like costs arising from the reward for the participant. The earning criteria for the 2026 –2028 period are tied to earnings per share (EPS) (70 percent), organic growth (20 percent), and carbon dioxide emissions (10 percent). In addition, a separate modifier will be applied, with criteria related to product exports and international sales (cross-border sales). Based on the achievement of the targets set for these criteria, the amount of rewards earned may be doubled at most. If the participant’s employment or service relationship ends before the reward is paid, the reward may be withheld. The target group of the share incentive plan includes up to 50 individuals. The total value of the rewards payable for the earning period is estimated to be approximately EUR 5 million. Restricted Share Unit Plan 2026 –2028 The Restricted Share Unit Plan 2026 –2028 is intended to be used as a tool in situations seen necessary by the Board of Directors, for example ensuring retention of key talents to the company, recruiting new talents or other specific situations determined b y the Board of Directors. The Restricted Share Unit Plan 2026 –2028 consists of one vesting period covering the financial years 2026–2028, during which the Board of Directors may allocate rewards from the plan. 139CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators The value of the rewards to be paid on the basis of the plan corresponds to a maximum total of 42 000 series A shares of Atria Plc, including also the proportion to be paid in cash. The rewards from the plan will be paid by the end of May 2027, 2028, 2029, 2030 or 2031. Salaries, benefits and supplementary pension Salaries Supplementary contributions for the members of the Supervisory Board and pension and the Board of Directors, the CEO and the Deputy CEO benefits contributions Total Members of the Supervisory Board: Halonen Jyrki, Chair 26 26 Anttikoski Juho, Deputy Chair 16 16 Other members of the Supervisory Board 130 130 Total 172 0 172 Members of the Board of Directors: Paavola Seppo, Chair 80 80 Korhonen Pasi, Deputy Chair 52 52 Ginmann-Tjeder Nella, until 23 Apr 2025 13 13 Joukio Mika 38 38 Kaikkonen Jukka 45 45 Kiviniemi Juha, as of 24 Apr 2025 28 28 Kopola Nina, as of 24 Apr 2025 26 26 Laitinen Leena 41 41 Paxal Kjell-Göran 49 49 Ritola Ahti, until 23 Apr 2025 29 29 Viertola-Truini Jaana, 24 Apr - 9 July 2025 6 6 Total 407 0 400 CEO: Gyllström Kai 751 135 886 Deputy CEO: Back Tomas 480 89 570 140CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 32. ACQUIRED OPERATIONS EUR 1,000 On 2 May 2024, Atria acquired the entire share capital of the Swedish convenience food company Gooh!. Gooh! was a business unit of Lantmännen Cerealia. Its production plant is in Järna in the Stockholm area and employs 65 people. With a market share of aro und 25 percent, the company is the market leader in the fresh microwaveable meals segment in the Swedish retail trade. Its distribution channels are well established. Gooh! products are sold in all major grocery chains and vending machines in Sweden. Gooh!'s annual net sales are approximately EUR 16 million, and the business is profitable. Gooh! is a well-known and respected convenience food brand in Sweden. The Gooh! product range complements Atria's convenience food offering and offers new opportunities for consumer -oriented productisation in the Swedish market. The acquisition is not expected to have a major impact on Atria’s financial position or performance. Gooh! Fair values * Acquisition price for the share of 100% 11,405 Assets and liabilities of the company, fair values employed in the acquisition: Property, plant and equipment 1,762 Intangible assets 8,652 Right-of-use assets 897 Inventories 806 Current receivables 27 Cash and cash equivalents 2 Total assets 12,145 Deferred tax liabilities 1,782 Leaseliabilities 897 Current liabilities 451 Total liabilities 3,130 Net assets 9,015 Goodwill from acquisition 2,389 The total purchase price in cash 11,405 The company’s cash and cash equivalents 2 Effect of the acquisition on cash flow on 31 Dec 2024 11,407 This calculation is final. *Fair values have been calculated at the exchange rate on the acquisition date. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 33. SOLD OPERATIONS EUR 1,000 On 30 January 2024, Atria Finland sold 70 percent of the shares of its subsidiary Best -In Oy to SaVe Logistiikka Oy. Best-In Oy manufactures pet food, and its annual net sales were roughly EUR 5 million. The company’s production facility is in Kelloniemi, Kuopio, and the company has 17 employees. The sale has no significant impact on the Group's result or net assets. Best-In Oy has been reported as an associated company in Atria Group’s figures as of 1 February 2024. 34. EVENTS AFTER THE REPORTING PERIOD There have been no significant events after the reporting period. 141CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 35. GROUP COMPANIES, GROUP JOINT VENTURES AND ASSOCIATES The most significant subsidiaries of Atria Group are Atria Finland Ltd, Atria Sverige AB, Atria Danmark A/S and Atria Eesti AS, all of which are manufacturers of foodstuffs as well as A -Farmers Ltd, which is responsible for animal procurement and trading, and A -Rehu Oy, which manufactures animal feed. Group companies Share of Share of by business area Domicile holding (%) votes (%) Atria Finland: A-Liha Jyväskylä Oy Finland 100.0 100.0 A-Lihatukkurin Oy Finland 100.0 100.0 A-Logistics Ltd Finland 100.0 100.0 A-Pekoni Nurmo Oy Finland 100.0 100.0 A-Pihvi Kauhajoki Oy Finland 100.0 100.0 A-Rehu Oy Finland 51.0 51.0 A-Sikateurastamo Oy Finland 100.0 100.0 Atria Plc Finland Atria Finland Ltd Finland 100.0 100.0 Atria-Chick Oy Finland 100.0 100.0 Atria-Lihavalmiste Oy Finland 100.0 100.0 Atria-Tekniikka Oy Finland 100.0 100.0 Atria-Tuoreliha Oy Finland 100.0 100.0 Atria-Valmisruoka Oy Finland 100.0 100.0 A-Farmers Ltd Finland 97.9 99.0 Domretor Oy Finland 100.0 100.0 Kauhajoen Teurastamokiinteistöt Oy Finland 100.0 100.0 Well Beef Ltd Finland 100.0 100.0 Kiinteistö Oy Tievapolku 3 Finland 100.0 100.0 Korv-Görans Kebab Oy * Finland 51.0 51.0 Liha ja Säilyke Oy Finland 100.0 100.0 Nautasuomi Oy Finland 51.0 51.0 Rokes Oy Finland 100.0 100.0 Sahalahden Broiler Oy Finland 100.0 100.0 Suomen Kalkkuna Oy Finland 100.0 100.0 Atria Sweden: Atria Concept SP Z.o.o Poland 100.0 100.0 Atria Sverige AB Sweden 100.0 100.0 Atria Sweden AB Sweden 100.0 100.0 Atria Denmark & Estonia: Atria Danmark A/S Denmark 100.0 100.0 Atria Denmark Holding A/S Denmark 100.0 100.0 Atria Eesti AS Estonia 100.0 100.0 Atria Farmid OÜ Estonia 100.0 100.0 OÜ Atria * Estonia 100.0 100.0 * Dormant company The consolidated financial statements include all subsidiaries. Share of Share of Group joint ventures and associates Domicile holding (%) votes (%) Group joint ventures: Honkajoki Oy * Finland 50.0 50.0 Länsi-Kalkkuna Oy Finland 50.0 50.0 Group associates: Best-In Oy Finland 30.0 30.0 Findest Protein Oy Finland 33.1 33.1 Finnpig Oy Finland 49.0 49.5 Foodwest Oy Finland 24.5 24.5 Kiinteistö Oy Itikanmäen Teollisuustalo Finland 12.6 12.6 Transbox Oy Finland 25.7 25.7 Tuoretie Oy Finland 33.3 33.3 * Reported as a significant joint venture, see note 16. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators 35. GROUP COMPANIES, GROUP JOINT VENTURES AND ASSOCIATES The most significant subsidiaries of Atria Group are Atria Finland Ltd, Atria Sverige AB, Atria Danmark A/S and Atria Eesti AS, all of which are manufacturers of foodstuffs as well as A -Farmers Ltd, which is responsible for animal procurement and trading, and A -Rehu Oy, which manufactures animal feed. Group companies Share of Share of by business area Domicile holding (%) votes (%) Atria Finland: A-Liha Jyväskylä Oy Finland 100.0 100.0 A-Lihatukkurin Oy Finland 100.0 100.0 A-Logistics Ltd Finland 100.0 100.0 A-Pekoni Nurmo Oy Finland 100.0 100.0 A-Pihvi Kauhajoki Oy Finland 100.0 100.0 A-Rehu Oy Finland 51.0 51.0 A-Sikateurastamo Oy Finland 100.0 100.0 Atria Plc Finland Atria Finland Ltd Finland 100.0 100.0 Atria-Chick Oy Finland 100.0 100.0 Atria-Lihavalmiste Oy Finland 100.0 100.0 Atria-Tekniikka Oy Finland 100.0 100.0 Atria-Tuoreliha Oy Finland 100.0 100.0 Atria-Valmisruoka Oy Finland 100.0 100.0 A-Farmers Ltd Finland 97.9 99.0 Domretor Oy Finland 100.0 100.0 Kauhajoen Teurastamokiinteistöt Oy Finland 100.0 100.0 Well Beef Ltd Finland 100.0 100.0 Kiinteistö Oy Tievapolku 3 Finland 100.0 100.0 Korv-Görans Kebab Oy * Finland 51.0 51.0 Liha ja Säilyke Oy Finland 100.0 100.0 Nautasuomi Oy Finland 51.0 51.0 Rokes Oy Finland 100.0 100.0 Sahalahden Broiler Oy Finland 100.0 100.0 Suomen Kalkkuna Oy Finland 100.0 100.0 Atria Sweden: Atria Concept SP Z.o.o Poland 100.0 100.0 Atria Sverige AB Sweden 100.0 100.0 Atria Sweden AB Sweden 100.0 100.0 Atria Denmark & Estonia: Atria Danmark A/S Denmark 100.0 100.0 Atria Denmark Holding A/S Denmark 100.0 100.0 Atria Eesti AS Estonia 100.0 100.0 Atria Farmid OÜ Estonia 100.0 100.0 OÜ Atria * Estonia 100.0 100.0 * Dormant company The consolidated financial statements include all subsidiaries. Share of Share of Group joint ventures and associates Domicile holding (%) votes (%) Group joint ventures: Honkajoki Oy * Finland 50.0 50.0 Länsi-Kalkkuna Oy Finland 50.0 50.0 Group associates: Best-In Oy Finland 30.0 30.0 Findest Protein Oy Finland 33.1 33.1 Finnpig Oy Finland 49.0 49.5 Foodwest Oy Finland 24.5 24.5 Kiinteistö Oy Itikanmäen Teollisuustalo Finland 12.6 12.6 Transbox Oy Finland 25.7 25.7 Tuoretie Oy Finland 33.3 33.3 * Reported as a significant joint venture, see note 16. 142CONSOLIDATED FINANCIAL STATEMENTS (IFRS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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P ARENT COMP ANY’S FINANCIAL ST A TEMENTS ( FAS) 143PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators INCOME STATEMENT EUR 1,000 Note 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 NET SALES 2.1 54,344 51,315 Other operating income 2.2 7,610 6,866 Personnel expenses 2.3 -6,506 -5,635 Depreciation and impairment 2.4 Depreciation according to plan -30,924 -28,763 Impairment -733 Other operating expenses 2.5 -15,585 -8,811 EBIT 8,205 14,972 Financial income and expenses 2.6 -4,805 -1,760 PROFIT/LOSS BEFORE APPROPRIATIONS AND TAXES 3,400 13,212 Appropriations 2.7 31,763 19,160 Income taxes 2.8 -8,148 -5,033 PROFIT/LOSS FOR THE PERIOD 27,015 27,339 144PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators BALANCE SHEET EUR 1,000 A s s e t s Note 31 Dec 2025 31 Dec 2024 FIXED ASSETS Intangible assets 3.1 Intangible rights 0 1 Other long-term expenditure 6,956 6,397 Total intangible assets 6,956 6,398 Tangible assets 3.1 340,285 343,319 Investments 3.2 Investments in Group companies 323,794 312,753 Investments in associates 3,818 3,818 Other shares and investments 615 615 Total investments 328,227 317,186 Non-current receivables 3.3 110,278 157,562 TOTAL FIXED ASSETS 785,746 824,466 CURRENT ASSETS Current receivables 3.3 123,839 50,490 Cash in hand and at bank 29,241 19,182 TOTAL CURRENT ASSETS 153,079 69,672 T o t a l a s s e t s 938,825 894,138 EUR 1,000 L i a b i l i t i e s Note 31 Dec 2025 31 Dec 2024 EQUITY 3.4 Share capital 48,055 48,055 Invested unrestricted equity fund 237,948 237,948 Retained earnings 11,722 3,844 Profit/loss for the period 27,015 27,339 TOTAL EQUITY 324,741 317,186 ACCRUED APPROPRIATIONS 3.5 Depreciation difference 77,828 77,862 Other provisions 3,118 0 LIABILITIES Non-current liabilities 3.6 220,000 250,000 Current liabilities 3.7 313,137 249,089 TOTAL LIABILITIES 533,137 499,089 T o t a l l i a b i l i t i e s 938,825 894,138 CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators BALANCE SHEET EUR 1,000 A s s e t s Note 31 Dec 2025 31 Dec 2024 FIXED ASSETS Intangible assets 3.1 Intangible rights 0 1 Other long-term expenditure 6,956 6,397 Total intangible assets 6,956 6,398 Tangible assets 3.1 340,285 343,319 Investments 3.2 Investments in Group companies 323,794 312,753 Investments in associates 3,818 3,818 Other shares and investments 615 615 Total investments 328,227 317,186 Non-current receivables 3.3 110,278 157,562 TOTAL FIXED ASSETS 785,746 824,466 CURRENT ASSETS Current receivables 3.3 123,839 50,490 Cash in hand and at bank 29,241 19,182 TOTAL CURRENT ASSETS 153,079 69,672 T o t a l a s s e t s 938,825 894,138 EUR 1,000 L i a b i l i t i e s Note 31 Dec 2025 31 Dec 2024 EQUITY 3.4 Share capital 48,055 48,055 Invested unrestricted equity fund 237,948 237,948 Retained earnings 11,722 3,844 Profit/loss for the period 27,015 27,339 TOTAL EQUITY 324,741 317,186 ACCRUED APPROPRIATIONS 3.5 Depreciation difference 77,828 77,862 Other provisions 3,118 0 LIABILITIES Non-current liabilities 3.6 220,000 250,000 Current liabilities 3.7 313,137 249,089 TOTAL LIABILITIES 533,137 499,089 T o t a l l i a b i l i t i e s 938,825 894,138 145PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CASH FLOW STATEMENT EUR 1,000 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 CASH FLOW FROM OPERATING ACTIVITIES Payments received from sales 53,493 52,148 Other business revenue 7,610 6,866 Payments on operating expenses -19,925 -19,771 Cash flow from operating activities 41,178 39,243 Dividends received 435 555 Interest received and other financial income 19,330 23,378 Interest paid and financial expenses -20,266 -29,555 Tax paid -6,263 -1,822 Cash flow from operating activities 34,414 31,799 CASH FLOW FROM INVESTMENTS Investments in tangible and intangible assets -29,181 -22,248 Investments in subsidiaries -13,357 17,631 Change in Group receivables -15,897 8,495 Cash flow from investments -58,435 3,878 CASH FLOW FROM FINANCING ACTIVITIES Repayment of long-term loans -30,000 0 Increase in short-term loans * 4 20,002 Decrease in short-term loans * 0 -20,000 Change in Group liabilities 62,379 -12,362 Received or given Group contributions 21,158 3,625 Return of capital 0 -8,453 Dividends paid -19,461 -8,453 Cash flow from financing activities 34,080 -25,642 CASH FLOW FROM OPERATING ACTIVITIES 34,414 31,799 CASH FLOW FROM INVESTMENTS -58,435 3,878 CASH FLOW FROM FINANCING ACTIVITIES 34,080 -25,642 TOTAL 10,059 10,035 Change in cash and cash equivalents Cash and cash equivalents 1 Jan 19,182 9,147 Cash and cash equivalents 31 Dec 29,241 19,182 Change 10,059 10,035 *Withdrawals and repayments of short -term loans include those with a maturity of more than 90 days commercial paper withdrawals and repayments. Withdrawals and repayments of commercial papers with a maturity of 90 days or less have been processed in the financial calculation on a net basis. CONTENT ATRIA IN 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain ATRIA’S DIRECTION Food market trends Consumer behaviour Strategy Sustainability as part of strategy ATRIA AS AN EMPLOYER BUSINESS AREAS Atria Finland Atria Sweden Atria Denmark & Estonia RESEARCH AND DEVELOPMENT FINANCIAL STATEMENTS AND THE REPORT BY THE BOARD OF DIRECTORS AUDITOR’S REPORT Corporate Governance Statement Remuneration Report Investor information Contacts Atria Plc | Group’s financial indicators CASH FLOW STATEMENT EUR 1,000 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 CASH FLOW FROM OPERATING ACTIVITIES Payments received from sales 53,493 52,148 Other business revenue 7,610 6,866 Payments on operating expenses -19,925 -19,771 Cash flow from operating activities 41,178 39,243 Dividends received 435 555 Interest received and other financial income 19,330 23,378 Interest paid and financial expenses -20,266 -29,555 Tax paid -6,263 -1,822 Cash flow from operating activities 34,414 31,799 CASH FLOW FROM INVESTMENTS Investments in tangible and intangible assets -29,181 -22,248 Investments in subsidiaries -13,357 17,631 Change in Group receivables -15,897 8,495 Cash flow from investments -58,435 3,878 CASH FLOW FROM FINANCING ACTIVITIES Repayment of long-term loans -30,000 0 Increase in short-term loans * 4 20,002 Decrease in short-term loans * 0 -20,000 Change in Group liabilities 62,379 -12,362 Received or given Group contributions 21,158 3,625 Return of capital 0 -8,453 Dividends paid -19,461 -8,453 Cash flow from financing activities 34,080 -25,642 CASH FLOW FROM OPERATING ACTIVITIES 34,414 31,799 CASH FLOW FROM INVESTMENTS -58,435 3,878 CASH FLOW FROM FINANCING ACTIVITIES 34,080 -25,642 TOTAL 10,059 10,035 Change in cash and cash equivalents Cash and cash equivalents 1 Jan 19,182 9,147 Cash and cash equivalents 31 Dec 29,241 19,182 Change 10,059 10,035 *Withdrawals and repayments of short -term loans include those with a maturity of more than 90 days commercial paper withdrawals and repayments. Withdrawals and repayments of commercial papers with a maturity of 90 days or less have been processed in the financial calculation on a net basis. 146PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 1. PRINCIPLES APPLIED IN PREPARING THE FINANCIAL STATEMENTS General principles applied in preparing the financial statements Atria Plc’s financial statements have been prepared in accordance with Finland’s accounting Act and the other rules and regulations pertaining to the compilation of financial statements (FAS). Information concerning the Group Atria Plc is the parent company of Atria Group, and its domicile is in Kuopio, Finland. Copies of Atria Plc’s consolidated financial statements are available at the company’s head office at Itikanmäenkatu 3, Seinäjoki; postal address: P.O. Box 900, 60060 ATRIA, Finland. Valuation principles In the balance sheet, tangible and intangible assets are entered at their direct acquisition cost less planned depreciation and value adjustments. Depreciation is implemented on a straight -line basis over the service life of the assets. Contributions recei ved for the acquisition of tangible assets are recognised as a decrease in acquisition costs. These contributions are not significant. The depreciation periods are as follows: Buildings Seinäjoki 30-40 years other locations 25 years Machinery and equipment Seinäjoki 10 years other locations 7 years Software 5 years Other long-term items 10 years Investments under non-current assets are originally entered at acquisition price. The book value of investments is assessed annually in connection with the preparation of the financial statements and, if the criteria of Chapter 5, section 13 of the Accounting Act are met, revaluations can be made as necessary. Items presented in foreign currenc y Items expressed in foreign currencies have been converted into euro at the exchange rate quoted by the European Central Bank. The exchange differences of the realised currency -denominated loans are presented under financial items. Financial assets and liabilities Financial instruments are measured primarily in accordance with chapter 5, section 2 of the Accounting Act. Receivables at nominal value, although at a maximum probable value. Securities and others of the kind falling under the scope of financial assets at acquisition cost or, if their probable normal value on the closing date is less than that, at this value. Liabilities at nominal value or, if the debt is tied to an index or some other basis for comparison, to the value higher than the nominal value pursu ant to the changed basis for comparison. Derivative financial instruments Derivatives of financial instruments are measured at fair value in accordance with the alternative practice presented in chapter 5, section 2a of the Accounting Act. Derivatives are accounted for as hedging. The company enters into derivative contracts mainly to hed ge against fluctuations in interest rates and currency exchange rates. The derivatives used are forward exchange agreements and interest rate swaps. The company recognises derivatives at fair value on the balance sheet when the derivative contract enters into force . Interest rate swaps have been recognised in accordance with this principle since the 2018 financial year. Derivatives are measured at fair value on the balance sheet date, and gains and losses arising from the valuation difference are recognised in financi al income and expenses in the income statement . Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 1. PRINCIPLES APPLIED IN PREPARING THE FINANCIAL STATEMENTS General principles applied in preparing the financial statements Atria Plc’s financial statements have been prepared in accordance with Finland’s accounting Act and the other rules and regulations pertaining to the compilation of financial statements (FAS). Information concerning the Group Atria Plc is the parent company of Atria Group, and its domicile is in Kuopio, Finland. Copies of Atria Plc’s consolidated financial statements are available at the company’s head office at Itikanmäenkatu 3, Seinäjoki; postal address: P.O. Box 900, 60060 ATRIA, Finland. Valuation principles In the balance sheet, tangible and intangible assets are entered at their direct acquisition cost less planned depreciation and value adjustments. Depreciation is implemented on a straight -line basis over the service life of the assets. Contributions recei ved for the acquisition of tangible assets are recognised as a decrease in acquisition costs. These contributions are not significant. The depreciation periods are as follows: Buildings Seinäjoki 30-40 years other locations 25 years Machinery and equipment Seinäjoki 10 years other locations 7 years Software 5 years Other long-term items 10 years Investments under non-current assets are originally entered at acquisition price. The book value of investments is assessed annually in connection with the preparation of the financial statements and, if the criteria of Chapter 5, section 13 of the Accounting Act are met, revaluations can be made as necessary. Items presented in foreign currenc y Items expressed in foreign currencies have been converted into euro at the exchange rate quoted by the European Central Bank. The exchange differences of the realised currency -denominated loans are presented under financial items. Financial assets and liabilities Financial instruments are measured primarily in accordance with chapter 5, section 2 of the Accounting Act. Receivables at nominal value, although at a maximum probable value. Securities and others of the kind falling under the scope of financial assets at acquisition cost or, if their probable normal value on the closing date is less than that, at this value. Liabilities at nominal value or, if the debt is tied to an index or some other basis for comparison, to the value higher than the nominal value pursu ant to the changed basis for comparison. Derivative financial instruments Derivatives of financial instruments are measured at fair value in accordance with the alternative practice presented in chapter 5, section 2a of the Accounting Act. Derivatives are accounted for as hedging. The company enters into derivative contracts mainly to hed ge against fluctuations in interest rates and currency exchange rates. The derivatives used are forward exchange agreements and interest rate swaps. The company recognises derivatives at fair value on the balance sheet when the derivative contract enters into force . Interest rate swaps have been recognised in accordance with this principle since the 2018 financial year. Derivatives are measured at fair value on the balance sheet date, and gains and losses arising from the valuation difference are recognised in financi al income and expenses in the income statement . 147PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 2. NOTES TO THE INCOME STATEMENT EUR 1,000 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 2.1 NET SALES 54,344 51,315 The company’s rental income is presented as net sales because it corresponds with the present nature of the company’s operations. 2.2 OTHER OPERATING INCOME Service charges from Group companies 7,283 5,915 Other 327 951 Total 7,610 6,866 2.3 PERSONNEL EXPENSES Average number of personnel Office personnel in Finland 26 26 Personnel expenses Salaries: CEO, Deputy CEO and members of the Board 1,620 1,306 Members of the Supervisory Board 95 85 Other salaries 3,616 3,185 Total 5,331 4,575 Pension costs 1,037 945 Other staff-related expenses 138 115 Total 1,175 1,060 Total personnel expenses 6,506 5,635 Pension commitments of the members of the Board of Directors and the CEO: The company’s statutory pensions are defined contribution plans and have been arranged through an insurance company (see note 31 to the consolidated financial statements). 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 2.4 DEPRECIATION AND IMPAIRMENT Depreciations of tangible and intangible assets 30,924 28,763 Impairment 733 Depreciation specification per balance sheet item included in section 3.1. 2.5 OTHER OPERATING EXPENSES Other operating expenses 15,585 8,811 Including administration, marketing, energy, cleaning, operational and other costs as well as fees paid to auditors. Audit Auditing fees 174 171 Audit-related engagements 77 86 Total 252 257 2.6 FINANCIAL INCOME AND EXPENSES Return on long-term investments: From Group companies 0 7,000 From other companies 435 555 Total 435 7,555 Other interest and financial income: From Group companies 12,966 13,691 From other companies 4,320 6,900 Total 17,286 20,591 Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 2. NOTES TO THE INCOME STATEMENT EUR 1,000 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 2.1 NET SALES 54,344 51,315 The company’s rental income is presented as net sales because it corresponds with the present nature of the company’s operations. 2.2 OTHER OPERATING INCOME Service charges from Group companies 7,283 5,915 Other 327 951 Total 7,610 6,866 2.3 PERSONNEL EXPENSES Average number of personnel Office personnel in Finland 26 26 Personnel expenses Salaries: CEO, Deputy CEO and members of the Board 1,620 1,306 Members of the Supervisory Board 95 85 Other salaries 3,616 3,185 Total 5,331 4,575 Pension costs 1,037 945 Other staff-related expenses 138 115 Total 1,175 1,060 Total personnel expenses 6,506 5,635 Pension commitments of the members of the Board of Directors and the CEO: The company’s statutory pensions are defined contribution plans and have been arranged through an insurance company (see note 31 to the consolidated financial statements). 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 2.4 DEPRECIATION AND IMPAIRMENT Depreciations of tangible and intangible assets 30,924 28,763 Impairment 733 Depreciation specification per balance sheet item included in section 3.1. 2.5 OTHER OPERATING EXPENSES Other operating expenses 15,585 8,811 Including administration, marketing, energy, cleaning, operational and other costs as well as fees paid to auditors. Audit Auditing fees 174 171 Audit-related engagements 77 86 Total 252 257 2.6 FINANCIAL INCOME AND EXPENSES Return on long-term investments: From Group companies 0 7,000 From other companies 435 555 Total 435 7,555 Other interest and financial income: From Group companies 12,966 13,691 From other companies 4,320 6,900 Total 17,286 20,591 148PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 Interest expenses and other financial expenses: To Group companies -5,048 -8,842 Impairment of investments in fixed assets -2,317 -1,169 To other companies -15,160 -19,894 Total -22,526 -29,905 Total financial income and expenses -4,805 -1,760 Interest expenses and other financial expenses include exchange rate gains/losses (net) 11 -52 The change in the fair value of the interest rate and currency derivatives used as hedging has been booked through the profit and loss. The change in fair value was a total of EUR -1.8 million (EUR -0.8 million). 2.7 APPROPRIATIONS Difference between planned depreciation and depreciation implemented in taxation 33 -1,998 Group contributions received 31,730 21,158 Total 31,763 19,160 2.8 INCOME TAXES Income taxes for the accounting period 8,148 5,164 Taxes for previous financial periods 1 -131 Total 8,148 5,033 3. NOTES TO THE BALANCE SHEET EUR 1,000 3.1 INTANGIBLE AND TANGIBLE 31 Dec 2025 31 Dec 2024 ASSETS Intangible assets: Intangible rights Acquisition cost 1 Jan 1,483 1,483 Acquisition cost 31 Dec 1,483 1,483 Cumulative depreciation 1 Jan -1,482 -1,479 Depreciation for the period -1 -3 Cumulative depreciation 31 Dec -1,483 -1,482 Balance sheet value 31 Dec 0 1 Other long-term expenditure Acquisition cost 1 Jan 44,369 42,383 Increases 2,221 1,986 Decreases -23 0 Acquisition cost 31 Dec 46,567 44,369 Cumulative depreciation 1 Jan -39,666 -38,130 Depreciation for the period -1,658 -1,535 Cumulative depreciation 31 Dec -41,324 -39,666 Balance sheet value 31 Dec 5,243 4,703 Advance payments and acquisitions in progress Acquisition cost 1 Jan 1,694 1,772 Changes +/- 19 -77 Acquisition cost 31 Dec 1,713 1,694 Balance sheet value 31 Dec 1,713 1,694 Total intangible assets 6,956 6,398 Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 1 Jan–31 Dec 2025 1 Jan–31 Dec 2024 Interest expenses and other financial expenses: To Group companies -5,048 -8,842 Impairment of investments in fixed assets -2,317 -1,169 To other companies -15,160 -19,894 Total -22,526 -29,905 Total financial income and expenses -4,805 -1,760 Interest expenses and other financial expenses include exchange rate gains/losses (net) 11 -52 The change in the fair value of the interest rate and currency derivatives used as hedging has been booked through the profit and loss. The change in fair value was a total of EUR -1.8 million (EUR -0.8 million). 2.7 APPROPRIATIONS Difference between planned depreciation and depreciation implemented in taxation 33 -1,998 Group contributions received 31,730 21,158 Total 31,763 19,160 2.8 INCOME TAXES Income taxes for the accounting period 8,148 5,164 Taxes for previous financial periods 1 -131 Total 8,148 5,033 3. NOTES TO THE BALANCE SHEET EUR 1,000 3.1 INTANGIBLE AND TANGIBLE 31 Dec 2025 31 Dec 2024 ASSETS Intangible assets: Intangible rights Acquisition cost 1 Jan 1,483 1,483 Acquisition cost 31 Dec 1,483 1,483 Cumulative depreciation 1 Jan -1,482 -1,479 Depreciation for the period -1 -3 Cumulative depreciation 31 Dec -1,483 -1,482 Balance sheet value 31 Dec 0 1 Other long-term expenditure Acquisition cost 1 Jan 44,369 42,383 Increases 2,221 1,986 Decreases -23 0 Acquisition cost 31 Dec 46,567 44,369 Cumulative depreciation 1 Jan -39,666 -38,130 Depreciation for the period -1,658 -1,535 Cumulative depreciation 31 Dec -41,324 -39,666 Balance sheet value 31 Dec 5,243 4,703 Advance payments and acquisitions in progress Acquisition cost 1 Jan 1,694 1,772 Changes +/- 19 -77 Acquisition cost 31 Dec 1,713 1,694 Balance sheet value 31 Dec 1,713 1,694 Total intangible assets 6,956 6,398 149PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 31 Dec 2025 31 Dec 2024 Tangible assets: Land and water Acquisition cost 1 Jan 1,001 1,001 Acquisition cost 31 Dec 1,001 1,001 Balance sheet value 31 Dec 1,001 1,001 Buildings and structures Acquisition cost 1 Jan 446,316 436,866 Increases 8,753 9,451 Decreases -333 0 Acquisition cost 31 Dec 454,736 446,316 Cumulative depreciation 1 Jan -221,806 -211,838 Impairment -707 0 Depreciation for the period -10,664 -9,968 Cumulative depreciation 31 Dec -233,176 -221,806 Balance sheet value 31 Dec 221,560 224,510 Machinery and equipment Acquisition cost 1 Jan 493,183 462,988 Increases 14,684 30,314 Decreases -38 -119 Acquisition cost 31 Dec 507,829 493,183 Cumulative depreciation 1 Jan -384,864 -367,810 Impairment -26 0 Depreciation for the period -18,397 -17,055 Cumulative depreciation 31 Dec -403,287 -384,864 Balance sheet value 31 Dec 104,542 108,319 Other tangible assets Acquisition cost 1 Jan 4,922 4,787 Increases 325 136 Acquisition cost 31 Dec 5,247 4,922 Cumulative depreciation 1 Jan -2,894 -2,692 Impairment -1 0 Depreciation for the period -205 -202 Cumulative depreciation 31 Dec -3,100 -2,894 Balance sheet value 31 Dec 2,148 2,028 31 Dec 2025 31 Dec 2024 Advance payments and acquisitions in progress Acquisition cost 1 Jan 7,461 26,904 Changes +/- 3,573 -19,443 Acquisition cost 31 Dec 11,034 7,461 Balance sheet value 31 Dec 11,034 7,461 Total tangible assets 340,285 343,319 Non-depreciated acquisition cost of machinery and equipment 104,542 108,319 The share of items other than production machinery and equipment is not significant in amount. The acquisition costs of fully depreciated and scrapped items are presented as decreases. 3.2 INVESTMENTS 31 Dec 2025 31 Dec 2024 Parent company Parent company Group companies: holding % holding % Atria Denmark Holding A/S, Denmark 100 100 Atria Eesti AS, Estonia 100 100 Atria Sweden AB, Sköllersta, Sweden 100 100 Atria Finland Ltd, Kuopio 100 100 A-Farmers Ltd, Seinäjoki 97.9 97.9 Kauhajoen Teurastamokiinteistöt Oy, Kauhajoki 100 100 Kiinteistö Oy Tievapolku 3, Helsinki 100 100 Liha ja Säilyke Oy, Forssa 63.2 63.2 OÜ Atria, Estonia 100 100 Rokes Oy, Forssa 100 100 Suomen Kalkkuna Oy, Seinäjoki 100 100 Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 31 Dec 2025 31 Dec 2024 Tangible assets: Land and water Acquisition cost 1 Jan 1,001 1,001 Acquisition cost 31 Dec 1,001 1,001 Balance sheet value 31 Dec 1,001 1,001 Buildings and structures Acquisition cost 1 Jan 446,316 436,866 Increases 8,753 9,451 Decreases -333 0 Acquisition cost 31 Dec 454,736 446,316 Cumulative depreciation 1 Jan -221,806 -211,838 Impairment -707 0 Depreciation for the period -10,664 -9,968 Cumulative depreciation 31 Dec -233,176 -221,806 Balance sheet value 31 Dec 221,560 224,510 Machinery and equipment Acquisition cost 1 Jan 493,183 462,988 Increases 14,684 30,314 Decreases -38 -119 Acquisition cost 31 Dec 507,829 493,183 Cumulative depreciation 1 Jan -384,864 -367,810 Impairment -26 0 Depreciation for the period -18,397 -17,055 Cumulative depreciation 31 Dec -403,287 -384,864 Balance sheet value 31 Dec 104,542 108,319 Other tangible assets Acquisition cost 1 Jan 4,922 4,787 Increases 325 136 Acquisition cost 31 Dec 5,247 4,922 Cumulative depreciation 1 Jan -2,894 -2,692 Impairment -1 0 Depreciation for the period -205 -202 Cumulative depreciation 31 Dec -3,100 -2,894 Balance sheet value 31 Dec 2,148 2,028 31 Dec 2025 31 Dec 2024 Advance payments and acquisitions in progress Acquisition cost 1 Jan 7,461 26,904 Changes +/- 3,573 -19,443 Acquisition cost 31 Dec 11,034 7,461 Balance sheet value 31 Dec 11,034 7,461 Total tangible assets 340,285 343,319 Non-depreciated acquisition cost of machinery and equipment 104,542 108,319 The share of items other than production machinery and equipment is not significant in amount. The acquisition costs of fully depreciated and scrapped items are presented as decreases. 3.2 INVESTMENTS 31 Dec 2025 31 Dec 2024 Parent company Parent company Group companies: holding % holding % Atria Denmark Holding A/S, Denmark 100 100 Atria Eesti AS, Estonia 100 100 Atria Sweden AB, Sköllersta, Sweden 100 100 Atria Finland Ltd, Kuopio 100 100 A-Farmers Ltd, Seinäjoki 97.9 97.9 Kauhajoen Teurastamokiinteistöt Oy, Kauhajoki 100 100 Kiinteistö Oy Tievapolku 3, Helsinki 100 100 Liha ja Säilyke Oy, Forssa 63.2 63.2 OÜ Atria, Estonia 100 100 Rokes Oy, Forssa 100 100 Suomen Kalkkuna Oy, Seinäjoki 100 100 150PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 31 Dec 2025 31 Dec 2024 Joint ventures and associates: Best-In Oy, Kuopio 30.0 30.0 Foodwest Oy, Seinäjoki 24.5 24.5 Honkajoki Oy, Honkajoki 50.0 50.0 Kiinteistö Oy Itikanmäen Teollisuustalo, Seinäjoki 12.6 12.6 Länsi-Kalkkuna Oy, Säkylä 50.0 50.0 Transbox Oy, Helsinki 25.7 25.7 Tuoretie Oy, Seinäjoki 33.3 33.3 3.3 RECEIVABLES Non-current receivables: Derivatives 772 2,092 Receivables from group companies: Loan receivables* 109,506 155,470 Total non-current receivables 110,278 157,562 Current receivables: Trade receivables 121 101 Other receivables 513 490 Accrued credits and deferred charges 1,268 915 Receivables from group companies: Trade receivables 3,965 3,134 Other receivables 84,041 15,180 Accrued credits and deferred charges 33,929 30,670 Total current receivables 123,837 50,490 Material items included in accrued credits and deferred charges: – group contributions 31,730 21,158 – dividend receivables 0 7,000 – interest accruals 2,256 2,808 – valuation of forward contracts 57 253 – other 1,155 366 Total 35,198 31,585 * Intercompany loan agreements within the Group are entered into on arm’s -length terms, and the loans are unsecured. The interest rates reflect the terms of the parent company’s external borrowings, and the average maturity of the loans at the time of drawdown is five years. 31 Dec 2025 31 Dec 2024 3.4 EQUITY Share capital 1 Jan 48,055 48,055 Share capital 31 Dec 48,055 48,055 Total restricted equity 48,055 48,055 Invested unrestricted equity fund 1 Jan 237,948 246,402 Capital return 0 -8,454 Invested unrestricted equity fund 31 Dec 237,948 237,948 Retained earnings 1 Jan 31,183 12,297 Distribution of dividends -19,461 -8,453 Retained earnings 31 Dec 11,722 3,844 Profit/loss for the period 27,015 27,339 Retained earnings 31 Dec 38,738 31,183 Total unrestricted equity 276,686 269,131 Total equity 324,741 317,186 At the end of 2025, the company held a total of 63,774 treasury shares, representing 0.3% of the shares and 0.1% of the votes in the company. The value of the treasury shares was kEUR 656 (kEUR 944). The number of treasury shares transferred as share incentives during 2025 was 24,283 Calculation of distributable funds: Invested unrestricted equity fund 237,948 237,948 Retained earnings 11,722 3,844 Profit/loss for the period 27,015 27,339 Total 276,686 269,131 Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 31 Dec 2025 31 Dec 2024 Joint ventures and associates: Best-In Oy, Kuopio 30.0 30.0 Foodwest Oy, Seinäjoki 24.5 24.5 Honkajoki Oy, Honkajoki 50.0 50.0 Kiinteistö Oy Itikanmäen Teollisuustalo, Seinäjoki 12.6 12.6 Länsi-Kalkkuna Oy, Säkylä 50.0 50.0 Transbox Oy, Helsinki 25.7 25.7 Tuoretie Oy, Seinäjoki 33.3 33.3 3.3 RECEIVABLES Non-current receivables: Derivatives 772 2,092 Receivables from group companies: Loan receivables* 109,506 155,470 Total non-current receivables 110,278 157,562 Current receivables: Trade receivables 121 101 Other receivables 513 490 Accrued credits and deferred charges 1,268 915 Receivables from group companies: Trade receivables 3,965 3,134 Other receivables 84,041 15,180 Accrued credits and deferred charges 33,929 30,670 Total current receivables 123,837 50,490 Material items included in accrued credits and deferred charges: – group contributions 31,730 21,158 – dividend receivables 0 7,000 – interest accruals 2,256 2,808 – valuation of forward contracts 57 253 – other 1,155 366 Total 35,198 31,585 * Intercompany loan agreements within the Group are entered into on arm’s -length terms, and the loans are unsecured. The interest rates reflect the terms of the parent company’s external borrowings, and the average maturity of the loans at the time of drawdown is five years. 31 Dec 2025 31 Dec 2024 3.4 EQUITY Share capital 1 Jan 48,055 48,055 Share capital 31 Dec 48,055 48,055 Total restricted equity 48,055 48,055 Invested unrestricted equity fund 1 Jan 237,948 246,402 Capital return 0 -8,454 Invested unrestricted equity fund 31 Dec 237,948 237,948 Retained earnings 1 Jan 31,183 12,297 Distribution of dividends -19,461 -8,453 Retained earnings 31 Dec 11,722 3,844 Profit/loss for the period 27,015 27,339 Retained earnings 31 Dec 38,738 31,183 Total unrestricted equity 276,686 269,131 Total equity 324,741 317,186 At the end of 2025, the company held a total of 63,774 treasury shares, representing 0.3% of the shares and 0.1% of the votes in the company. The value of the treasury shares was kEUR 656 (kEUR 944). The number of treasury shares transferred as share incentives during 2025 was 24,283 Calculation of distributable funds: Invested unrestricted equity fund 237,948 237,948 Retained earnings 11,722 3,844 Profit/loss for the period 27,015 27,339 Total 276,686 269,131 151PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) The breakdown of the share capital is as follows: 2025 2024 Number of EUR 1,000 Number of EUR 1,000 Series A (1 vote per share) 19,063,747 32,408 19,063,747 32,408 Series KII (10 votes per share) 9,203,981 15,647 9,203,981 15,647 Total 28,267,728 48,055 28,267,728 48,055 3.5 ACCRUED APPROPRIATIONS 31 Dec 2025 31 Dec 2024 Depreciation difference 77,828 77,862 3.5 PROVISIONS Other provision Cost provision for the Kelloniemi demolition works in Kuopio 3,118 3.7 NON-CURRENT LIABILITIES Loans from financial institutions 220,000 250,000 Total non-current liabilities 220,000 250,000 3.8 CURRENT LIABILITIES Trade payables 4,328 3,729 Other payables 726 1,361 Accruals and deferred income 6,960 5,511 Liabilities to Group companies: Trade payables 574 318 Other payables 300,547 238,168 Accruals and deferred income 3 3 Total current liabilities 313,137 249,089 31 Dec 2025 31 Dec 2024 Material items included in accruals and deferred income: - accruals of salaries and social security payments 2,757 2,181 - interest accruals 766 1,103 - valuation of forward contracts 397 117 - accrued taxes 2,990 1,104 - insurance accruals 0 882 - other 53 127 Total 6,962 5,513 4. OTHER NOTES EUR 1,000 4.1 SECURITIES GIVEN, CONTINGENT LIABILITIES 31 Dec 2025 31 Dec 2024 AND OTHER LIABILITIES Contingent liabilities and other liabilities not included in the balance sheet Guarantees On behalf of Group companies 44,652 44,574 Total 44,652 44,574 Other leases Minimum rents paid based on other leases Within one year 809 818 Within one to five years 2,210 2,673 After five years 1,033 2,454 Total 4,051 5,945 Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) The breakdown of the share capital is as follows: 2025 2024 Number of EUR 1,000 Number of EUR 1,000 Series A (1 vote per share) 19,063,747 32,408 19,063,747 32,408 Series KII (10 votes per share) 9,203,981 15,647 9,203,981 15,647 Total 28,267,728 48,055 28,267,728 48,055 3.5 ACCRUED APPROPRIATIONS 31 Dec 2025 31 Dec 2024 Depreciation difference 77,828 77,862 3.5 PROVISIONS Other provision Cost provision for the Kelloniemi demolition works in Kuopio 3,118 3.7 NON-CURRENT LIABILITIES Loans from financial institutions 220,000 250,000 Total non-current liabilities 220,000 250,000 3.8 CURRENT LIABILITIES Trade payables 4,328 3,729 Other payables 726 1,361 Accruals and deferred income 6,960 5,511 Liabilities to Group companies: Trade payables 574 318 Other payables 300,547 238,168 Accruals and deferred income 3 3 Total current liabilities 313,137 249,089 31 Dec 2025 31 Dec 2024 Material items included in accruals and deferred income: - accruals of salaries and social security payments 2,757 2,181 - interest accruals 766 1,103 - valuation of forward contracts 397 117 - accrued taxes 2,990 1,104 - insurance accruals 0 882 - other 53 127 Total 6,962 5,513 4. OTHER NOTES EUR 1,000 4.1 SECURITIES GIVEN, CONTINGENT LIABILITIES 31 Dec 2025 31 Dec 2024 AND OTHER LIABILITIES Contingent liabilities and other liabilities not included in the balance sheet Guarantees On behalf of Group companies 44,652 44,574 Total 44,652 44,574 Other leases Minimum rents paid based on other leases Within one year 809 818 Within one to five years 2,210 2,673 After five years 1,033 2,454 Total 4,051 5,945 152PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 4.2 VAT LIABILITIES 31 Dec 2025 31 Dec 2024 The company has made property investments as referred to in the Value Added Tax Act. The remaining verification liability of these investments was assessed for each verification period on 31 December 2025. Year of completion of the investment Remaining amount of verification liability 2016 190 2017 112 224 2018 108 162 2019 217 289 2020 638 797 2021 2,644 3,172 2022 7,922 9,243 2023 5,645 6,451 2024 1,057 1,189 2025 2,283 Total 20,625 21,717 The company is obliged to verify reductions in VAT on property investments if the taxable use of the properties decreases during the verification period. 4.3 INTEREST RATE SWAP AND INTEREST RATE CAP AGREEMENTS Interest rate swap agreement: Asset being hedged: EUR 60 million loan, 28 April 2021 - 2 May 2028, interest 6-month Euribor Hedging derivative: Interest rate swap with a nominal value of EUR 30 million; the company receives a 6-month Euribor rate and pays a fixed interest rate. The fair value of the agreement on the closing date is EUR 1,795,336. The cash flow from the interest rate swap is recognised in the income statement with the same periods as the interest flows from the hedged loan. Hedging derivative: Interest rate swap with a nominal value of EUR 30 million; the company receives a 6-month Euribor rate and pays a fixed interest rate. The fair value of the agreement on the closing date is EUR -795,612. The cash flow from the interest rate swap is recognised in the income statement with the same periods as the interest flows from the hedged loan. Asset being hedged: EUR 30 million loan, 22 September 2020 – 25 September 2027, interest 6-month Euribor Hedging derivative: Interest rate swap agreement with a nominal value of EUR 30 million; the company receives a 6-month Euribor rate and pays a fixed interest rate . The fair value of the agreement on the closing date is EUR 1,065,919. The cash flow from the interest rate swap is recognised in the income statement with the same periods as the interest flows from the hedged loan. 4.4 DERIVATIVE FINANCIAL INSTRUMENTS Fair values of derivative Derivative Derivative Net fair Net fair financial instruments: assets liabilities value value 31 Dec 2025 31 Dec 2025 31 Dec 2025 31 Dec 2024 Forward exchange agreements (maturity less than a year) 57 -397 -340 136 Interest rate swaps and cap agreements 772 772 2,092 Total 828 -397 432 2,227 Nominal values of derivative financial instruments: 31 Dec 2025 31 Dec 2024 Forward exchange agreements 60,649 70,553 Interest rate swaps 110,000 90,000 Total 170,649 160,553 The basis to determine the fair value of derivative financial instruments are consistent with the Group’s principles. Detailed information concerning derivatives including risk management and hierarchy levels are presented in note 29 to the consolidated financial statements. Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) 4.2 VAT LIABILITIES 31 Dec 2025 31 Dec 2024 The company has made property investments as referred to in the Value Added Tax Act. The remaining verification liability of these investments was assessed for each verification period on 31 December 2025. Year of completion of the investment Remaining amount of verification liability 2016 190 2017 112 224 2018 108 162 2019 217 289 2020 638 797 2021 2,644 3,172 2022 7,922 9,243 2023 5,645 6,451 2024 1,057 1,189 2025 2,283 Total 20,625 21,717 The company is obliged to verify reductions in VAT on property investments if the taxable use of the properties decreases during the verification period. 4.3 INTEREST RATE SWAP AND INTEREST RATE CAP AGREEMENTS Interest rate swap agreement: Asset being hedged: EUR 60 million loan, 28 April 2021 - 2 May 2028, interest 6-month Euribor Hedging derivative: Interest rate swap with a nominal value of EUR 30 million; the company receives a 6-month Euribor rate and pays a fixed interest rate. The fair value of the agreement on the closing date is EUR 1,795,336. The cash flow from the interest rate swap is recognised in the income statement with the same periods as the interest flows from the hedged loan. Hedging derivative: Interest rate swap with a nominal value of EUR 30 million; the company receives a 6-month Euribor rate and pays a fixed interest rate. The fair value of the agreement on the closing date is EUR -795,612. The cash flow from the interest rate swap is recognised in the income statement with the same periods as the interest flows from the hedged loan. Asset being hedged: EUR 30 million loan, 22 September 2020 – 25 September 2027, interest 6-month Euribor Hedging derivative: Interest rate swap agreement with a nominal value of EUR 30 million; the company receives a 6-month Euribor rate and pays a fixed interest rate . The fair value of the agreement on the closing date is EUR 1,065,919. The cash flow from the interest rate swap is recognised in the income statement with the same periods as the interest flows from the hedged loan. 4.4 DERIVATIVE FINANCIAL INSTRUMENTS Fair values of derivative Derivative Derivative Net fair Net fair financial instruments: assets liabilities value value 31 Dec 2025 31 Dec 2025 31 Dec 2025 31 Dec 2024 Forward exchange agreements (maturity less than a year) 57 -397 -340 136 Interest rate swaps and cap agreements 772 772 2,092 Total 828 -397 432 2,227 Nominal values of derivative financial instruments: 31 Dec 2025 31 Dec 2024 Forward exchange agreements 60,649 70,553 Interest rate swaps 110,000 90,000 Total 170,649 160,553 The basis to determine the fair value of derivative financial instruments are consistent with the Group’s principles. Detailed information concerning derivatives including risk management and hierarchy levels are presented in note 29 to the consolidated financial statements. 153PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2023 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS (FAS) Fair value hierarchy: Balance sheet item 31 Dec 2025 Level 1 Level 2 Level 3 Current assets Derivative financial instruments 57 57 Non-current assets Interest rate swaps 772 772 Current liabilities Derivative financial instruments -397 -397 Balance sheet item 31 Dec 2024 Level 1 Level 2 Level 3 Current assets Derivative financial instruments 2,344 2,344 Non-current liabilities Interest rate swaps Current liabilities Derivative financial instruments -117 -117 Level 1: Input for identical assets and liabilities, prices quoted on functional markets. Level 2: Quoted prices belonging to levels other than level 1, observable for assets and liabilities either directly or indirectly. Level 3: Assets and liabilities subject to input not based on verifiable market prices. On 31 December 2025, the company held EUR 0.6 million in other financial assets, (EUR 0,6 million on 31 December 2024), in addition to derivatives, consisting of unlisted shares. These belong to level 3. 154PARENT COMPANY’S FINANCIAL STATEMENTS (FAS) BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts ATRIA PLC | SIGNATURES Signatures for the report of the Board of Directors, the sustainability statement, and the financial statements The financial statements, prepared in accordance with the applicable financial reporting regulations, provide a true and fair view of the assets, liabilities, financial position, and profit or loss of both the company and the entities included in its consolidated financial statements. The report of the board of directors includes a true and fair account of the development and re sults of the business operations of both the company and the entities included in its consolidated financial statements, as well as a description of the most significant risks and uncertainties and other aspects of the company’s status. The sustainability r eport included in the report of the board of directors has been prepared in accordance with the reporting standards referred to in Chapter 7 and Article 8 of the Taxonomy Regulation. Helsinki, 2 March 2026 Seppo Paavola Chair Mika Joukio Board member Jukka Kaikkonen Board member Juha Kiviniemi Board member Nina Kopola Board member Pasi Korhonen Board member Leena Laitinen Board member Kjell-Göran Paxal Board member Kai Gyllström CEO Note to the financial statement A report on the audit performed has been issued today. Helsinki, 2 March 2026 Deloitte Oy Firm of authorised public accountants Marika Nevalainen Authorised public accountant 155SIGNATURES TO THE FINANCIAL STATEMENTS BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 156AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Key Audit Matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financi al statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whol e and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have also addressed the risk of management override of internal controls. This includes consideration of whether there was evidence of management bias that represented a risk of material misstatement due to fraud. Key Audit Matter How Key Audit Matter has been addressed Valuation of goodwill - Atria Sweden cash-generating unit Refer to Note 15 to the consolidated financial statements The goodwill amounts to EUR 84.5 million (EUR 82.3 million) in the consolidated financial statements. Of this, EUR 40.3 million (EUR 38.1 million) is allocated to Atria Sweden cash - generating unit. The management evaluates goodwill for any indications of impairment annually. The recoverable amount is based on value -in-use calculations. The most important factors of cash flow forecasts used in impairment testing are net sales growth, long -term profita bility, and discount rate. The goodwill allocated to Atria Sweden has been treated as a key audit matter in the audit of the consolidated financial statements, because impairment testing involves significant management estimates and judgements regarding future business development, profitability, and discount rate. In the audit, we have evaluated the impairment testing models prepared by the management and approved by the board, as well as evaluated the controls related to the impairment testing. We have discussed the basis used in the forecasts with the management and evaluated significant assumptions used by the management: • We have compared growth and profitability assumptions with historical development. • We have compared the input data and estimates used in the calculations to the financial plans approved by the Board of Directors. • In evaluating the appropriateness of discount rates, we have compared the input data used in determining the discount tare to external sources and reflected on the changes in rates from the previous year to evaluate their appropriateness. • We have tested the technical appropriateness of the impairment testing calculation. We have also evaluated the appropriateness of the notes on impairment testing. We have no key audit matters to report with respect to our audit of the parent company financial statements. There are no sig nificant risks of material misstatement referred to in EU regulation No 537/2014, point (c) of Article 10(2) relating to the consolidated financial statements or the parent company’s financial statements. Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 157AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Responsibilities of the Board of Directors and the Managing Director for the Financial Statements The Board of Directors and the Managing Director are responsible for the preparation of consolidated financial statements tha t give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU, and of financial statements that giv e a true and fair view in accordance with the laws and regulations governing the preparation of financial statements in Finla nd and comply with statutory requirements. The Board of Directors and the Managing Director are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Board of Directors and the Managing Director are responsible for assessing the par ent company’s and the group’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting. The financial statements are prepared using the going concern basis of accou nting unless there is an intention to liquidate the parent company or the group or cease operations, or there is no realistic alter native but to do so. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a hi gh level of assurance, but is not a guarantee that an audit conducted in accordance with good auditing practice will always d etect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individua lly or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. As part of an audit in accordance with good auditing practice, we exercise professional judgment and maintain professional sk epticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basi s for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting fr om error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parent company’s or the group’s in ternal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosur es made by management. • Conclude on the appropriateness of the Board of Directors’ and the Managing Director’s use of the going concern basis of acco unting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cas t significant doubt on the parent company’s or the group’s ability to continue as a going concern. If we conclude that a mate rial uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial stat ements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the parent company o r the group to cease to continue as a going concern. Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 158AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events so that the financial statements give a true and fair vie w. • Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the group financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely respo nsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regar ding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our inde pendence, and where applicable, related safeguards. From the matters communicated with those charged with governance, we determine those matters that were of most significance i n the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circums tances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would rea sonably be expected to outweigh the public interest benefits of such communication. Other Reporting Requirements Information on our audit engagement We were first appointed as auditors by the Annual General Meeting on 25 of April 2023, and our appointment represents a total period of uninterrupted engagement of 3 years. Other Information The Board of Directors and the Managing Director are responsible for the other information. The other information comprises t he report of the Board of Directors and the information included in the Annual Report but does not include the financial statements or our auditor’s report thereon. We have obtained the report of the Board of Directors prior to the date of this auditor’s re port and the Annual Report is expected to be made available to us after that date. Our opinion on the financial statements does not cover the other information. In connection with our audit of the financial statements, our responsibility is to read the other information identified abov e and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. With respect to the report of the Board of Director s, our responsibility also includes considering whether the report of the Board of Directors has been prepared in compliance with the applicable provisions, excluding the sustainability report information on which there are provisions in Chapter 7 of the A ccounting Act and in the sustainability reporting standards. In our opinion, the information in the report of the Board of Directors is consistent with the information in the financial s tatements and the report of the Board of Directors has been prepared in compliance with the applicable provisions. Our opinion does not cover the sustainability report information on which there are provisions in Chapter 7 of the Accounting Act and in the s ustainability reporting standards. If, based on the work we have performed on the other information that we obtained prior to the date of this auditor’s report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 159AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Other statements based on legislation Our responsibility is to, based on our audit, express an opinion on the registration and publication of the income tax report required n Chapter 7 b of the Accounting Act. The Board of Directors and the Managing Director are responsible for the registration and the publication of the income tax r eport. In our opinion, the company has not been obliged to register and publish an income tax report referred to in Chapter 7 b of t he Accounting Act for the financial year immediately preceding the financial year ended. Helsinki 2 March 2026 Deloitte Oy Audit Firm Marika Nevalainen Authorised Public Accountant (KHT) Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 160AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Assurance Report on the Sustainability Report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc We have performed a limited assurance engagement on the group sustainability report of Atria Oyj (0841066 -1) that is referred to in Chapter 7 of the Accounting Act and that is included in the report of the Board of Directors for the reporting period1.1. –31.12.2025. Opinion Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the group sustainability report does not comply, in all material respects, with • the requirements laid down in Chapter 7 of the Accounting Act and the sustainability reporting standards (ESRS), and • the requirements laid down in Article 8 of the Regulation (EU) 2020/852 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (EU Taxonomy). Point 1 above also contains the process in which Atria Oyj has identified the information for reporting in accordance with th e sustainability reporting standards (double materiality assessment). Our opinion does not cover the tagging of the group sustainability report with digital XBRL sustainability tags in accordance with Chapter 7, Section 22, Subsection 1(2), of the Accounting Act, because sustainability reporting companies have not had the po ssibility to comply with that provision due to the absence of the ESEF regulation or other European Union legislation on tagg ing the group sustainability statement. Basis for Opinion We performed the assurance of the group sustainability report as a limited assurance engagement in compliance with good assur ance practice in Finland and with the International Standard on Assurance Engagements (ISAE) 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information. Our responsibilities under this standard are further described in the Responsibilities of the Authorised Group Sustainability Auditor section of our report. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 161AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Authorised group sustainability auditor's Independence and Quality Management We are independent of the parent company and of the group companies in accordance with the ethical requirements that are appl icable in Finland and are relevant to our engagement, and we have fulfilled our other ethical responsibilities in accordance with t hese requirements. The authorised group sustainability auditor applies International Standard on Quality Management ISQM 1, which requires the a uthorised sustainability audit firm to design, implement and operate a system of quality management including policies or procedure s regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements. Responsibilities of the Board of Directors and the Managing Director The Board of Directors and the Managing Director of Atria Oyj are responsible for: • the group sustainability report and for its preparation and presentation in accordance with the provisions of Chapter 7 of th e Accounting Act, including the process that has been defined in the sustainability reporting standards and in which the informatio n for reporting in accordance with the sustainability reporting standards has been identified, • the compliance of the group sustainability report with the requirements laid down in Article 8 of the Regulation (EU) 2020/85 2 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment, and amend ing Regulation (EU) 2019/2088, and • such internal control as the Board of Directors and the Managing Director determine is necessary to enable the preparation of a group sustainability report that is free from material misstatement, whether due to fraud or error. Inherent Limitations in the Preparation of a Group Sustainability Report In preparing the group sustainability report, the company is required to conduct a materiality assessment to identify relevan t matters to be reported. This process involves significant management judgement and choices. Due to the nature and characteristics of sustainability reporting, this type of information involves estimates and assumptions, as well as measurement and evaluati on uncertainties. In reporting forward-looking information according to ESRS standards, management is required to prepare the forward -looking information on the basis of disclosed assumptions about events that may occur in the future, possible future actions by the company, and prepare the forward-looking information based on these assumptions. The actual outcome is likely to be different since anticipated events frequen tly do not occur as expected. The determination of greenhouse gas emissions involves inherent uncertainty due to incomplete scientific knowledge used to de fine the numerical values for emission factors and the combination of emissions from different gases. Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 162AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Responsibilities of the Authorised Group Sustainability Auditor Our responsibility is to perform an assurance engagement to obtain limited assurance about whether the group sustainability r eport is free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes our opinion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they c ould reasonably be expected to influence the decisions of users taken on the basis of the group sustainability report. Compliance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised) requires that we exercise professio nal judgment and maintain professional skepticism throughout the engagement. We also: • Identify and assess the risks of material misstatement of the group sustainability report, whether due to fraud or error, and obtain an understanding of internal control relevant to the engagement in order to design assurance procedures that are appropriat e in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parent company’s or the group’s internal control. • Design and perform assurance procedures responsive to those risks to obtain evidence that is sufficient and appropriate to pr ovide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one result ing from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intern al control. Description of the Procedures That Have Been Performed The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. The nature, timing and extent of assurance procedures selected depend on professional judgment, including the assessment of risks of material misstatement, whether due to fraud or error. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonab le assurance engagement been performed. Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 163AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Our procedures included for ex. the following: • Performed inquiries of the company’s management and personnel responsible for collecting and reporting the information contai ned in the sustainability report at the group level and for subsidiaries, as well as at the different levels and business areas of the organization. • Obtained an understanding of the company’s sustainability reporting process, internal controls, and information systems relat ed to the sustainability reporting process through inquiries. • Reviewed the company’s internal guidelines and policies relevant to the information presented in the group sustainability rep ort. • Reviewed the supporting documentation and records prepared by the company, where applicable, and assessed whether they suppor t the information included in the group sustainability report. • With respect to the double materiality assessment process, we evaluated the implementation of the process conducted by the company in relation to the requirements of the ESRS standards and assessed whether the disclosed information on the double materialit y assessment is in accordance with the ESRS standards. • Evaluated whether the group sustainability report meets the requirements of the ESRS standards, in all material aspects, rega rding material sustainability matters to a significant extent. • With respect to the EU taxonomy information, we obtained an understanding of the process by which the company has identified taxonomy-eligible and taxonomy-aligned economic activities and assessed the compliance of the related disclosed information with th e regulations. Helsinki, 2. March 2026 Deloitte Oy Authorised Sustainability Audit Firm Marika Nevalainen Authorised Sustainability Auditor (KRT) Atria Oyj 1 Jan -31 Dec 2025 ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts Auditor’s report (Translation of the Finnish Original) To the Annual General Meeting of Atria Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Atria Oyj (business identity code 0841066-1) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, income statement, statement of comprehensive income, statement o f changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the pare nt company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in ac cordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requi rements. Our opinion is consistent with the additional report submitted to the Board of Directors. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practic e are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non -audit services that we have provided to the parent company and group companies are in compliance with laws and regulations ap plicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Atria Oyj 1 Jan -31 Dec 2025 164AUDITOR’S REPORT BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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ATRIA PLC | AUDITOR’S REPORT Content Atria in 2024 Atria in brief CEO’s review Financial development Highlights of the year Atria’s value chain Atria’s direction Food market trends Consumer behaviour Strategy Sustainability as part of strategy Atria as an employer Business areas Atria Finland Atria Sweden Atria Denmark & Estonia Research and development Financial Statements and the Report by the Board of Directors Auditor’s report Corporate Governance Statement Remuneration Report Investor information Contacts GGEENNEERRAALL IINNFFOORRMMAATTIIOONN AABBOOUUTT TTHHEE CCOOMMPPAANNYY Registered Company address Itikanmäenkatu 3, Seinäjoki Home country Finland Name or other identifier of the reporting entity Atria Plc A description of the change in the name or other identifier of the reporting entity since the end of the previous reporting period N/A The legal form of the company Public company Company domicile Kuopio Head office Seinäjoki A description of the nature and main activities of the company Atria Plc and its subsidiaries manufacture and market food products, especially meat products, poultry products, meals and food concepts. Name of the parent company Atria Plc Name of the parent company of the entire group Atria Plc 165BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025CONTENTS BOARD OF DIRECTORS’ REPORT Overview of 2025 Key figures Financing and liquidity Strategy, goals and value chain Stakeholders’ interests and views Research and development Events after the period under review Risks and risk management Governance and operations Related-party loans Personnel average, FTE Incentive programmes for management and key personnel Outlook for 2026 Flagging notifications Atria Plc’s share capital Valid authorisations Distributable funds and the Board of Directors’ proposal for profit distribution Information about the shares and shareholders Key figures Calculation formulas for key financial figures Items affecting comparability of result SUST AINABILITY ST A TEMENT CONSOLIDA TED FINANCIAL ST A TEMENTS (IFRS) P ARENT COMP ANY’S FINANCIAL ST A TEMENTS (F AS) SIGNA TURES TO THE FINANCIAL ST A TEMENTS AUDITOR’S REPORT
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WWW .A TRIA.COM
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GOVERNANCE 2025 ATRIA ’S YEAR 2025 GOVERNANCE 2025BOARD OF DIRECTORS’ REPORT, SUSTAINABILITY STATEMENT AND FINANCIAL STATEMENTS 2025
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1. Corporate Governance Statement ..................................3 1.1 Articles of Association .............................................................3 1.2 Shareholder agreement ............................................................3 2. Annual General Meeting ................................................4 3. Shareholders’ Nomination Board ...................................4 4. Supervisory Board ..........................................................5 5. Board of Directors ...........................................................7 5.1 Duties of the Board of Directors .............................................7 5.2 Meeting practices and information flow ...............................8 5.3 Composition of the Board of Directors .................................9 5.4 Principles concerning the diversity of the Board of Directors and the Supervisory Board .........................................13 5.4.1 Diversity of the Board of Directors ...............................13 5.4.2 Diversity of the Supervisory Board ...............................13 5.4.3 Implementation of the diversity principles ..................13 6. Board Committees ........................................................13 7. CEO ................................................................................14 8. Management Team ........................................................14 8.1 Management Team on 31 December 2025 ..........................15 9. Remuneration ................................................................20 10. Internal control, risk management and internal audit ....................................................................20 10.1 Internal control .....................................................................20 10.2 Risk management .................................................................20 10.3 Internal audit .........................................................................21 11. Auditing and Sustainability Reporting Assurance ..........................................................................21 11.1 Auditor’s and Sustainability Assurance Provider’s remuneration for the 2025 financial year ..................................22 12. Insider policy ...............................................................22 13. Related-party transactions .........................................22 14. Communications .........................................................22 14.1 Silent period ..........................................................................22 14.2 Investor information ............................................................22 REMUNERA TION REPORT 2025 1. Introduction ..................................................................23 2. Development of Atria’s financial performance and remuneration .............................................................23 3. Remuneration of the Supervisory Board members .....25 4. Remuneration of the Board of Directors .....................26 5. Remuneration of the CEO and Deputy CEO ...............27 Atria’s Annual Report 2025 consists of three parts: Atria’s year 2025 Governance 2025 Board of Directors’ Report, Sustainability Statement and Financial Statements 2025 ATR IA .COM All parts are found on Atria’s website: This part of the Annual Report in PDF format is not an xHTML document compliant with the ESEF (European Single Electronic Format) regulation. The Board of Directors’ Report, Sustainability Statement and Financial Statements 2025 in accordance with ESEF regulations are available electronically as an xHTML document in Finnish language at atria.com/sijoittajat/taloustieto/vuosikertomukset CONTENTS
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1. CORPORA TE GOVERNANCE ST A TEMENT Atria Plc (“ Atria” or “the company”) is a Finnish public company, and the responsibilities and obligations of its governing bodies are determined by Finnish law. The parent company, Atria Plc, and its subsidiaries constitute the international Atria Group. The company is domiciled in Kuopio. Responsibility for the administration and operations of Atria Group lies with the governing bodies of the parent, Atria Plc. These are the Annual General Meeting, the Supervisory Board, the Board of Directors and the CEO. Decision-making and governance at Atria comply with the Finnish Limited Liability Companies Act, the Securities Markets Act, The Market Abuse Regulation, the Auditing Act and the Accounting Act and other regulations pertaining to listed companies, as well as with Atria Plc’s Articles of Association and the rules of procedure of Atria’s Board and Board commit- tees and Atria’s Code of Conduct and internal policies. Atria is also bound by EU-level regulations and Nasdaq Helsinki Ltd’s rules, as well as by orders and guidelines issued by the European Securities and Market Authority and Financial Supervisory Authority. Atria follows the Securities Market Association’s (SMA) Corporate Governance Code, which came into effect on 1 January 2025. The Corporate Governance Code is available on the SMA website at www.cgfinland.fi. In accordance with the ‘comply or explain’ principle, Atria departs from the recommendations of the Corporate Govern- ance Code as follows (the exceptions are explained under the relevant items): • As an exception to recommendation 10 of the Corporate Governance Code, three of the eight members on the Board of Directors are independent of the company. The Board of Directors has assessed that five members of the Board of Directors are dependent on the Atria Group, either because they are full-time farmers who have, or are part of the executive management of another company that has, for the entrepreneur/company concerned, a significant busi- ness relationship with a company belonging to the Atria Group. Because the Board of Directors of Atria Plc does not, as a rule, deal with matters related to these cooperation relationships, this dependence has not been considered to affect their activities as a member of Atria Board of Direc- tors. The decision on the exemption has been taken at the Annual General Meeting of Atria, where the members of the Board of Directors are elected. The company considers that understanding its business requires the majority of the Board members to have a deep understanding of and commitment to the meat business and that dependence on an Atria Group company does not compromise the direction and control of the CEO or create a conflict of interest. • As an exception to recommendation 17 and 18 of the Cor- porate Governance Code, one of the three members on the Nomination and Remuneration Committee is independent of the company. So far, the Board has considered it impor- tant that the Chairman and Vice Chairman of the Board participate in the work of the Nomination and Remunera- tion Committee. Since the dependence of the Chairman and Vice Chairman of the Board of Directors on the company is based on the fact that they have a significant working rela- tionship with a company belonging to the Atria Group and the Nomination and Remuneration Committee does not deal with matters related to these cooperation relationships in accordance with its rules of procedure, this dependence has not been considered to affect their activities in the Nomina- tion and Compensation Committee. The Corporate Governance Statement is presented as a report separate from the Board of Director’s Report. The Corporate Governance Statement is available on the company’s website at www.atria.com (Investors → Corporate Governance). 1. 1 Articles of Association The Articles of Association and the redemption clause are availa- ble on the company’s website at www.atria.com (Investors → Corporate Governance). 1.2 Shareholder Agreement Lihakunta and Itikka Co-operative, two of Atria’s shareholders, have agreed to ensure that they are both represented on the Supervisory Board in proportion to their holdings of Series KII shares in the company, and that all members of the Supervi- sory Board are appointed by them, unless it has been separately agreed on a case-by-case basis that some Supervisory Board members are selected from among candidates designated by other shareholders. It has also been agreed that when the Chair of the Supervisory Board and the Vice Chair of the Board of Directors are appointed by one of these two parties, the Chair of the Board of Directors and the Vice Chair of the Supervisory Board are appointed by the other party. Regarding the distribution of Board positions, it has been agreed that each of the parties may nominate three ordinary members and their deputy members to the Board of Directors. The agreement also includes stipulations on the mutual proportion of shareholding and on the procedures followed when either party acquires more series KII shares directly or indirectly. According to the agreement, the acquisition of series A shares is not consid- ered in the evaluation of the mutual proportion of shareholding. Furthermore, Lihakunta, Itikka Co-operative and Pohjanmaan Liha Co-operative, which hold shares in Atria, have agreed to ensure that Pohjanmaan Liha Co-operative has one represent- ative on the Supervisory Board. The agreement also includes stipulations on Pohjanmaan Liha Co-operative’s shareholding. The company is not aware of any other shareholder agreements. CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 3GOVERNANCE 2025
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Despite the above, the Annual General Meeting, as stated in section 3 below, decides on the number of members of the company’s Supervisory Board and of the Board of Directors and their election. 2. ANNUAL GENERAL MEETING The Annual General Meeting is Atria Plc’s highest deci- sion-making body. At the General Meeting, shareholders decide, among other things, on the approval of the financial statements and the use of the profit shown on the balance sheet; the discharge of the members of the Board of Directors and of the Supervisory Board, as well as the CEO, from liability; the number of members of the Supervisory Board and of the Board of Directors, and their election and remuneration; acceptance of Remuneration Report (and Remuneration Policy, if needed) and the election and remuneration of the auditor and authorised sustainability auditor. The Annual General Meeting is held annually by the end of June on a date designated by the Board of Directors, and the agenda includes matters that are to be processed by the Annual General Meeting in accordance with the Limited Liability Companies Act and the Articles of Association and any other proposals mentioned in the notice of the meeting. Extraordinary General Meetings may be convened as needed. Under the Limited Liability Companies Act, a shareholder has the right to have a matter falling within the competence of the Annual General Meeting dealt with by the Annual General Meeting if the shareholder so demands in writing from the Board of Directors well in advance of the meeting, so that the matter can be mentioned in the notice. Where applicable, the shareholder must submit a request to have the matter dealt with by the Annual General Meeting by the date set by the company, which is published on the company’s website at www.atria.com. The request, together with the accompanying justification or proposed resolution, must be sent in writing to Atria Plc, Group Legal Affairs, P .O. Box 900, FI-60060 ATRIA. The Annual General Meeting is convened by the Board of Direc- tors. In accordance with the company’s Articles of Association, the Annual General Meeting is held in the company’s domi- cile, Kuopio, or in Helsinki. The notice to convene the Annual General Meeting is communicated by publishing the notice on the company’s website and by a company announcement at the earliest three (3) months and at the latest three (3) weeks before the Annual General Meeting, but nevertheless no later than nine (9) days prior to the record date for the Annual General Meeting. In addition, the Board of Directors may decide to publish the notice, or a notification concerning the delivery of the notice, in one or more Finnish national newspapers determined by the Board of Directors, or in any other manner it may decide. The company’s Annual General Meeting for 2025 was held in Helsinki on 24 April 2025 at Musiikkitalo. The meeting was attended, either in person or by a representative, by a total of 148 holders of A shares, representing a total of 9,339,875 shares and votes, and three (3) holders of KII shares, representing a total of 9,203,981 shares and 92,039,810 votes. The minutes of the meeting, as well as other documents related to the meeting, are available on Atria’s website at www.atria.com (Investors → General Meetings). 3. SHAREHOLDERS’ NOMINA TION BOARD Atria Plc’s Annual General Meeting on 3 May 2012 established a Nomination Board and confirmed its written rules of procedure. The rules of procedure were amended by the Annual General Meeting on 6 May 2014 and 27 April 2017. In accordance with its charter, the Nomination Board is charged with preparing proposals concerning the remuneration of the Board of Direc- tors and Supervisory Board and the election of the members of the Board of Directors for the next Annual General Meeting. The Nominations Committee has been set up for an indefinite period. The term of office of the members of the Nomination Board shall expire at the end of the Annual General Meeting following the appointment. Shareholders or their representatives who own Series KII shares are selected for the Nomination Board, as well as the largest holder of Series A shares who does not own Series KII shares, or a representative of such a shareholder. The right to nominate a representative to the Nomination Board is determined on the basis of the shareholder register maintained by Euroclear Finland Ltd in accordance with the situation on the first banking day of the September preceding the Annual General Meeting. The Chair of the Board of Directors will serve as an expert member on the Nomination Board. If a shareholder does not wish to exercise their right to nominate a member, the right will be transferred to the next largest series A shareholder in accordance with the shareholder register, who would not otherwise have the right to nominate a member. Some shareholders are obligated to notify the company of certain changes in shareholding when necessary under the Finnish Securities Markets Act (notification obligation). Such share- holders may present a written request to the company’s Board of Directors by the end of August for the holdings of corporations or foundations controlled by the shareholder, or the sharehold- er’s holdings in several funds or registers, to be combined when calculating voting rights. The Nomination Board is convened by the Chair of the Board of Directors, and the Nomination Board elects a Chair from among its members. The Nomination Board will present its proposal to the Board of Directors by the first day of the February preceding the Annual General Meeting. CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 4GOVERNANCE 2025
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As at 31 December 2025, the Nomination Board comprised the following persons (the body appointing the person to the Nomination Board is indicated in brackets): Name (Nominated by) Y ear of birth Education Main occupation Attendance at meetings Shareholding on 31 Dec 2025 Chair Juho Anttikoski (Itikka Co-operative) 1970 Farmer 4/4 4000 Pasi Korhonen (Lihakunta) 1975 Farmer 2/2 0 Ola Sandberg (Pohjanmaan Liha Co-operative) 1981 Agrologist Farmer 2/2 90 Hanna Kaskela (Varma Mutual Pension Insurance Company) 1979 M.Sc. (Econ) Director, Sustainability & Communications 2/2 0 During the financial year until 24 April 2025, the Nomination Board also included Jyrki Halonen, representing Lihakunta, and Kjell-Göran Paxal, representing Pohjanmaan Liha Co-operative and Timo Sallinen representing Varma Mutual Pension Insurance Company. The Nomination Board met five times during 2025 and the attendance rate of the Nomination Board members was 100%. 4. SUPERVISORY BOARD In accordance with Atria Plc’s Articles of Association, the company has a Supervisory Board elected by the Annual General Meeting. The Supervisory Board consists of a minimum of 18 and a maximum of 21 members, who are elected for a term of three years at a time. The Supervisory Board elects a Chair and a Vice Chair from amongst its members for a term of one year at a time. The Supervisory Board meets four times a year on average. The duties of the Supervisory Board are specified in the Limited Liability Companies Act and Atria’s Articles of Association. The key duties of the Supervisory Board are as follows: • Supervising the company’s administration by the Board of Directors and the CEO. • Providing instructions to the Board of Directors on matters that are of far-reaching consequence or important in princi- ple. • Submitting its statement on the financial statements and the auditors’ report to the Annual General Meeting. CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 5GOVERNANCE 2025
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ON 31 DECEMBER 2025, ATRIA PLC’S SUPERVISORY BOARD CONSISTED OF THE FOLLOWING 20 MEMBERS: Name Y ear of birth Member since Education Main occupation Attendance at meetings Shareholding on 31 Dec 2025 Independence of the company and its significant shareholders Juho Anttikoski 1970 2009 Farmer 4/4 4,000 Dependent of the company Mika Asunmaa 1970 2005 Farmer 4/4 11,000 Dependent of the company and significant shareholder (Itikka Co-operative) Jyrki Halonen 1961 2019 Agricultural technician Farmer 4/4 250 Dependent of the company Mika Herrala 1974 2021 M.Sc. (Biophysics) Farmer 4/4 100 Dependent of the company and significant shareholder (Itikka Co-operative) Vesa Isoaho 1966 2025 Basic agricultural education Agricultural entrepreneur 3/3 320, controlling company 490 Dependent on the company, independent of significant shareholders Jaakko Isomäki 1979 2023 Agrologist Farmer 4/4 372 Dependent of the company and significant shareholder (Itikka Co-operative) Lotta Iso-Tuisku 1982 2024 M.Sc. (Philosophy) Agricultural entrepreneur 3/4 4 Dependent of the company Jussi Joki-Erkkilä 1977 2016 Agricultural entrepreneur 2/4 0 Dependent of the company and significant shareholder (Lihakunta) Jari Kajan 1971 2025 Agrologist Agricultural entrepreneur 3/3 0 Dependent on the company, independent of significant shareholders Ari Lajunen 1975 2013 M.Sc. (Agr) Farmer 3/4 0 Dependent of the company and significant shareholder (Lihakunta) Vesa Lapatto 1968 2020 Agrologist Dairy farmer 4/4 0 Dependent of the company Juha Nikkola 1976 2018 M.Sc. (Agr) Farmer 4/4 100 Dependent of the company and significant shareholder (Itikka Co-operative) Mika Niku 1970 2009 Farmer 4/4 300 Dependent of the company and significant shareholder (Lihakunta) Ilkka Nykänen 1967 2025 Agrologist, EMBA Managing Director of Itikka Co-operative and Lihakunta 4/4 10 Dependent on the company and of significant shareholders (Itikka Co-operative and Lihakunta) Ari Pöyhönen 1970 2020 M.Sc. (Agr) Farmer 4/4 1,000 Dependent of the company Suvi Rantala 1977 2022 BBA (Business Administration) Farmer 4/4 controlling company 518 Dependent of the company Risto Sairanen 1960 2013 Farmer 4/4 0 Dependent of the company Ola Sandberg 1981 2018 Agrologist Farmer 4/4 90 Dependent of the company Juha Savela 1977 2023 Secondary school graduate Agricultural entrepreneur 4/4 2,700 Dependent of the company and significant shareholder (Itikka Co-operative)) Piia Uusitalo 1976 2024 M.Sc. (Tech.), Information Technology Agricultural entrepreneur 4/4 0 Dependent of the company CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 6GOVERNANCE 2025
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During the financial year until 23 April 2025, the Supervisory Board also included Veli Hyttinen and Juha Kiviniemi. Vesa Isoaho, Ilkka Nykänen and Jari Kajan have been members of the Supervisory Board since 24 April 2025. The Board of Directors has deemed all members of the Supervi- sory Board to be dependent of Atria, as they are either full-time farmers who have – or are members of the operative manage- ment of a company that has – a customer, supplier or cooper- ation relationship with Atria Group that is significant for the entrepreneur/company in question. All members of the Atria Supervisory Board are also members of Board of Directors or Supervisory Board of Atria’s signifi- cant shareholders Itikka Co-operative’s, significant shareholder Lihakunta’s or Co-operative Pohjanmaan Liha or is a managing director of these co-operatives. The Board of Directors has deemed that the members of Atria’s Supervisory Board who are also members of the Board of Directors or a managing director of a significant shareholder (Itikka Co-operative or Lihakunta) are dependent of a significant shareholder. Membership of the Supervisory Board of a significant shareholder alone has not been deemed to constitute dependence. Atria has a Supervisory Board because Atria’s shareholders representing more than 50% of the votes granted by the com- pany’s shares have expressed their satisfaction with the current Supervisory Board model as stipulated in Articles of Associa- tion, because it brings a far-reaching perspective on the com- pany’s operations and decision-making. The company believes that understanding its business requires a deep familiarity with and commitment to meat operations from its Supervisory Board members. In 2025, Atria Plc’s Supervisory Board met four times, and the average attendance of the members was 96.25%. 5. BOARD OF DIRECTORS In accordance with the Articles of Association, Atria’s Board of Directors has a minimum of five (5) and a maximum of nine (9) members. The Chair and the Vice Chair of the Board of Direc- tors are nominated in accordance with the shareholder agree- ment between Lihakunta and Itikka Co-operative. 5. 1 Duties of the Board of Directors Atria’s Board of Directors is responsible for the company’s administration and its appropriate organisation. The Board of Directors is responsible for the appropriate organisation of the supervision of the company’s accounting and asset management. To this end, the Board of Directors has confirmed written rules of procedure concerning the duties of the Board, the matters to be dealt with, meeting practices and the decision-making procedure. According to the rules of procedure, the Board of Directors discusses and decides on significant matters related to the company’s strategy, investments, organisation and financing. The rules of procedure lay down the following key duties for the Board of Directors: • Approving the strategic goals and guidelines for the Group and its business areas • Approving the budgets and business plans for the Group and its business areas • Deciding on the investment plan for each calendar year and approving major investments that exceed one million euros • Approving major M&A and restructuring operations • Approving the Group’s operating principles for areas that are important for management and supervision • Discussing and adopting interim reports and financial statements • Monitoring and evaluating the company’s financial and sustainability reporting systems • Monitoring and evaluating the auditing of its financial state- ments, consolidated financial statements and sustainability reporting statements • Preparing the items to be dealt with at Annual General Meet- ings and ensuring that decisions are implemented • Approving the audit plan for internal auditing, as well as monitoring and assessing the effectiveness of internal control and auditing as well as the risk management systems • Appointing and dismissing the CEO and deciding on his/her remuneration and other benefits • Approving, at the CEO’s proposal, the hiring of his/her direct subordinates and the principal terms of their employment contracts • Approving the organisational structure and the key princi- ples of incentive schemes • Monitoring and evaluating the CEO’s performance • Monitoring and evaluating the independence of the auditor and particularly the provision of services other than auditing services and sustainability auditing services provided by the auditor • Deciding on other matters that are important in view of the size of the Group and that are not part of day-to-day operations, such as considerable expansion or contraction of business or other material changes to operations, the taking of long-term loans and the sale and pledging of fixed assets CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 7GOVERNANCE 2025
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• Monitoring and evaluating the compliance of agreements and other legal transactions between the company and its related parties with requirements concerning ordinary busi- ness activities and market terms • Deciding on other matters which, under the Limited Lia- bility Companies Act, fall within the remit of the Board of Directors • Performing the Audit Committee’s duties referred to in rec- ommendation 16 of the Corporate Governance Code. The Board of Directors assesses its operations and working methods regularly by conducting a self-evaluation once a year. 5.2 Meeting practices and information flow The Board of Directors meets regularly around 10 times during the term in accordance with a meeting schedule confirmed in advance by the Board, and when necessary. In 2025, the Board of Directors met 15 times. The average attendance rate of the members of the Board of Directors was 100%. The term of office of the members of the Board of Directors ends at the end of the first Annual General Meeting following the election. During the meetings of the Board of Directors, the CEO gives a review of the financial situation of the Group by business area. The review also covers forecasts, investments, organisational changes and other issues that are important for the Group. CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 8GOVERNANCE 2025
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SEPPO PAAVOLA Chair b. 1962 Education: Agrologist (secondary school graduate) Main occupation: Farmer Member of the Board since: 2012 PASI KORHONEN Vice Chair b. 1975 Main occupation: Farmer Member of the Board since: 2016 Relevant work experience: Agricultural entrepreneur 1996–present Farm advisor, Rural Centre of Central Ostrobothnia 1991–1996 Concurrent key positions of trust: Member of the Supervisory Board of Itikka Co-operative 2000–present Deputy Chair of the Supervisory Board of Itikka Co-operative 2008–2011 Chair of the Supervisory Board of Itikka Co-operative 2012–present Chair of the Board of Directors of Jokilaakso Co-operative Bank (former Perhonjokilaakso Co-operative Bank, former Kaustinen Co-operative Bank) 2002–present Member of the Board of Directors of Pellervo 2012–present Past key positions of trust: Member of the Supervisory Board of Atria Plc 2006–2012 Deputy Chair of the Supervisory Board of Atria Plc 2009–2012 Member of the Co-operative Advisory Committee of Pellervo Confederation 2012–2017 Independence: Dependent of the company, independent of the significant shareholders Shareholding on 31 December 2025: 4,400 Share-based rights in the company: None Attendance in meetings: 15/15 Relevant work experience: Farmer Concurrent key positions of trust: Member of the Board of Directors of Nautasuomi 2021–present Chair of the Board of Directors of Kelloniemen Aurinkoranta 2020–present Chair of the Board of Directors of Lihakunta 2019–present Member of the Board of Directors of Lihakunta 2013–present Member of the Board of Directors of Kainuun maa- ja metsäsäätiö 2013–present Managing Director of MäkiBull Oy 2023–present Past key positions of trust: Deputy Chair of the Board of Directors of Lihakunta 2016–2019 Councillor of the Sotkamo Municipal Council 2005–2017 Independence: Dependent of the company and significant shareholders Shareholding on 31 December 2025: 0 Share-based rights in the company: None Attendance in meetings: 15/15 5.3 Members of the Board of Directors 31 December 2025 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 9GOVERNANCE 2025
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NINA KOPOLA Board member b. 1960 Education: Licenciate in Technology Main occupation: Professional Board Member Member of the Board since: 2025 JUKKA KAIKKONEN Board member b. 1963 Education: Agrologist Main occupation: Farmer, beef producer Member of the Board since: 2020 Relevant work experience: Business Finland, Director General and CEO 2019–2024 Suominen Plc, CEO 2011–2018 Dynea Ltd, various management positions 2000–2011 Concurrent key positions of trust: Member of the Nomination Board of A. Ahlström Ltd. 2023–present Past key positions of trust: TESI advisory board: 2019–2024 Traffic Management Finland Oy: Member of the Board of Directors 2018–2019, Chair of the Remuneration Committee Metso Plc: Member of the Board of Directors 2013–2019, Member of the Audit Committee 2013–2019 Konecranes Plc: Member of the Board of Directors 2011–2015, Member of the Remuneration Committee 2011–2014, Member of the Audit Committee 2015 Ilmarinen Mutual Pension Insurance Company: Member of the Supervisory Board 2015–2018 Chemical Industry Member of the Board 2011–2014 Independence: Independent of the company and significant shareholders Shareholding on 31 December 2025: 0 Share-based rights in the company: None Attendance in meetings: 9/9 Relevant work experience: Agricultural entrepreneur 1990–present Salaojakeskus 1987–1990 Concurrent key positions of trust: Member of the Board of Directors of Lihakunta 2019–present Past key positions of trust: Deputy Chair and Member of the Supervisory Board of Lihakunta 2013–2019 Member of the Supervisory Board of Atria Plc 2013–2019 Chair of the Supervisory Board of Atria Plc 2017–2019 Independence: Dependent of the company and significant shareholders Shareholding on 31 December 2025: 500 Share-based rights in the company: None Attendance in meetings: 15/15 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 10GOVERNANCE 2025
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LEENA LAITINEN Board member b. 1970 Education: M.Sc. (Econ.) Main occupation: President and CEO of Alko Inc. Member of the Board since: 2021 MIKA JOUKIO Board member b. 1964 Education: M.Sc. (Tech.), MBA Member of the Board since: 2022 Relevant work experience: Snellman Group, CEO 2014–2017 SOK, Home Goods Trade Director 2009–2013 SOK, Prisma Chain Director 2007–2009 SOK, Managing Director of As Prisma Peremarket 2004–2007 Keskimaa OSK, Director of Prisma 2000–2004 Cooperative PeeÄssä, Director of Prisma 1997–2000 Concurrent key positions of trust: Member of the Board of Ilmarinen Mutual Pension Insurance Company 2018–present Member of the Board of Viljava Oy 2021–present Chair of the Board of Directors of Viljava Oy 2022–present EK Confederation of Finnish Industries, member of the representative council 2025–present Past key positions of trust: Chair of the Board of The Central Union for Child Welfare 2022–2025 Member of the Board and Executive Committee Service Sector Employers Palta 2019–2021 Member of the Board of Aava Health Services 2017–2020 Member of the Board of Sponda Plc 2014–2017 Member of the Board of Finnish Food and Drink Industries’ Federation 2014–2017 Independence: Independent of the company and significant shareholders Shareholding on 31 December 2025: 0 Share-based rights in the company: None Attendance in meetings: 15/15 Relevant work experience: Metsä Board Corporation, CEO 2014–2025 Metsä Tissue Corporation, CEO 2012–2014 M-real Corporation (today Metsä Board Corporation), Head of Consumer Packaging 2006–2012 Metsä-Serla Corporation and M-real Corporation (today Metsä Board Corporation), various management positions 1990–2006 Concurrent key positions of trust: Member of the Supervisory Board of Varma Mutual Pension Insurance Company 2019–present Past key positions of trust: Chair of the Finnish Forest Industries Trade Policy Committee 2022–2025 Member of the Board of Directors of Metsä Fibre Oy 2014–2025 Chair of the Board of Directors of Husum Pulp AB 2021–2025 Independence: Independent of the company and significant shareholders Shareholding on 31 December 2025: 0 Share-based rights in the company: None Attendance in meetings: 15/15 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 11GOVERNANCE 2025
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KJELL-GÖRAN PAXAL Board member b. 1967 Education: Agrologist Main occupation: Farmer, piglet and pork producer Member of the Board since: 2012 JUHA KIVINIEMI Board member b. 1972 Education: M.Sc. (Agriculture and Forestry), Agronomist Main occupation: Agricultural entrepreneur, Kiviniemi Broiler Ltd 2001– Member of the Board since: 2025 Relevant work experience: Oy Foremix Ab, Feed salesman 1990–1997 Pohjanmaan Liha Co-operative, Primary Production Manager 1990–1997 Concurrent key positions of trust: Member of the Board of Directors of Pohjanmaan Liha Co-operative 2002–present Deputy Chair of the Board of Directors of Pohjanmaan Liha Co-operative 2021–present Chair of the Board of Directors of Oy Foremix Ab 2010–present Member of the Board of Directors of A–Rehu Oy 2010–present Chair of the Board of Directors of Ab WestFarm Oy 2010–present Member of the Board of Directors of Oy Foremix Ab 2004–present Past key positions of trust: Member of the Board of Directors of A-Farmers Ltd 2003–2021 Chair of the Board of Directors of Pohjanmaan Liha Co-operative 2010–2020 Deputy Chair of the Board of Directors of Pohjanmaan Liha Co-operative 2002–2009 Deputy member of the Board of Directors of the Central Union of Swedish speaking Agricultural Producers in Finland 1999–2001 Independence: Dependent of the company, independent of the significant shareholders Shareholding on 31 December 2025: 2,566 Share-based rights in the company: None Attendance in meetings: 15/15 Concurrent key positions of trust: Itikka co-operative, member of the Board of Directors 2016–present Suurusrehu Oy, chair of the Board of Directors 2018–present Maanvaalija Oy, member of the Board of Directors 2022–present South-Ostrobothnia Cooperative Bank, members of the Supervisory Board 2019–present Suomen Yrittäjät ry (Federation of Finnish Entrepreneurs), member of the Dietetics Committee 2022–present Past key positions of trust: Atria Plc, member of the Supervisory Board 2009–2025 Itikka co-operative, member of the Supervisory Board 2009–2016, member of the representative body 2004–2009 South-Ostrobothnia Broileryrittäjät ry (chicken producers), Chair 2015–2025 Finnish Broileryrittäjät ry (chicken producers), Deputy Chair 2004–2006 MTK Poultry Meat Network, Chair 2016–2019 (MTK = The Central Union of Agricultural Producers and Forest Owners) Jalasjärvi Municipality, member of the municipal council 2004–2017, municipal government member 2008–2015 Jalasjärven Lämpö Oy, Chair of the Board of Directors 2013–2016 Independence: Dependent of the company and significant shareholders Shareholding on 31 December 2025: 300, controlling company 184 Share-based rights in the company: None Attendance in meetings: 9/9 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 12GOVERNANCE 2025
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Atria’s Annual General Meeting has on 24 April 2025 nominated nine (9) members as the members of the Board of Directors. Jaana Viertola-Truini, a member of the Board of Directors of Atria Plc, resigned from the Board on 9 July 2025 due to her other work commitments. Atria’s Board of Directors will con- tinue for the time being with eight Board members. The Board of Directors has deemed that the following members of the Board are dependent of Atria: Seppo Paavola, Juha Kiviniemi, Jukka Kaikkonen, Pasi Korhonen and Kjell-Göran Paxal. These members are either full-time farmers who have – or are members of the operative management of a company that has – a customer, supplier or cooperation relationship with Atria Group that is sig- nificant for the entrepreneur/company in question. Seppo Paavola and Kjell-Göran Paxal have also been members of Board for more than 10 years. Of the Board members Pasi Korhonen and Jukka Kaikkonen are members of the Board of Directors of Lihakunta and Juha Kiviniemi is a member of the Board of Directors of Itikka co- operative, significant shareholders and are therefore dependent of a significant shareholder. Seppo Paavola is a member of the Supervisory Board of Itikka Co-operative, a significant share- holder. Membership of the Supervisory Board of a significant shareholder alone has not been deemed to constitute depend- ence of a significant shareholder. The members of the Board of Directors are obliged to provide the Board with information sufficient to assess their skills and independence and to notify the Board of any changes to the information. 5.4 Principles concerning the diversity of the Board of Directors and the Supervisory Board Diversity is part of Atria’s responsible business operations. When planning the composition of Atria’s Board of Directors and Supervisory Board, diversity is considered from a variety of per- spectives, and the phase of company’s development needs and the scope of its business operations are taken into account. When selecting the members of the Board of Directors and Supervisory Board, the goal is that the members’ broad-based expertise and the composition of the Board support the devel- opment of Atria’s current and future business operations. A constructively questioning and challenging Board of Directors and Supervisory Board create added value for the company’s operations. This also brings diversity to their work. Atria seeks to promote the selection of members who are as qualified as pos- sible and have broad and varied experience in various fields and to ensure that candidates of both genders have equal opportu- nities to be selected on the Board. Both genders are represented on the Atria’s Board of Directors and the Supervisory Board. In addition, the selection considers the candidates’ ability to spend a sufficient amount of time on their Board duties. 5.4.1. Diversity of the Board of Directors The selection aims to ensure that the Board has core competence from a variety of fields within the value chain of Atria’s business operations, a wide range of experience of entrepreneurship and business activities, as well as know-how and understanding of international business required by the company’s strategy. Rather than every member of the Board being qualified in all of the aforementioned areas, the aim is that every Board member possesses some skills in one or more of the aforementioned areas. The diversity of the Board of Directors is furthermore supported by the members’ other complementary skills, their training and experience from different occupational fields and industries, as well as by a consideration of the Board members’ age and gender distribution. As a long-term goal for Atria is that women and men are represented in the Board of Directors composition, as defined in the Corporate Governance Code. In addition to the skills of the members, the selection considers the candidates’ ability to spend a sufficient amount of time on their Board duties. 5.4.2 Diversity of the Supervisory Board When selecting members of the Supervisory Board, the goal is to consider their expertise in the meat industry and its various types of production. Diversity is also ensured by selecting members who represent various areas of Finland. In addition, the age and gender distribution of the members of the Supervi- sory Board are considered, along with other skills that support the Board’s work. 5.4.3. Implementation of the diversity principles To achieve the goals of its diversity principles, the company has sought and seeks to actively communicate these goals to Atria’s shareholders. At the end of the 2025 financial year, two members of the Board of Directors were women, and the other members were men, meaning that the minority gender represented 25 percent of all Board members. At the end of the 2025 financial year, three members of the Supervisory Board were women, and the other members were men, meaning that the minority gender represented 15 percent of all Supervisory Board members. The company’s minimum requirement of both genders being represented has therefore been met but the long-term goal for Corporate Governance Code`s representation requirement in the Board of Directors composition has not yet been met. The company’s other goals concerning the diversity of the Board of Directors and the Supervisory Board have also been met with regard to the Board members’ in-depth knowledge of the meat business and commercial and industrial operations, and the Supervisory Board members’ expertise in the meat industry and various types of production, as well as geographical representa- tion. 6. BOARD COMMITTEES The Board of Directors may decide to establish committees to handle duties designated by the Board. The Board confirms the committees’ rules of procedure. The Board of Directors has one committee: the Nomination and Remuneration Committee. The Board of Directors appoints the members of the Committee from among its members in accord- CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 13GOVERNANCE 2025
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ance with the Committee’s rules of procedure. The Committee has no autonomous decision-making power. The Board of Direc- tors makes decisions on the basis of the Committee’s preparations and proposals. The Committee reports regularly to the Board of Directors, which supervises the operations of the Committee. The aim of the Nomination and Remuneration Committee is to prepare the CEO’s, the Deputy CEO’s and the management’s terms of employment, ensure objective decision-making, support the achievement of the company’s goals through bonus schemes, increase the company’s value and ensure that bonus schemes are transparent and systematic. The aim of the Nomi- nation and Remuneration Committee is also to ensure that the performance bonus systems are linked to the company’s strategy and the results achieved. The Nomination and Remuneration Committee has three (3) members. The Nomination and Remuneration Committee consists of the Chair, Vice Chair and one member of the Board of Directors elected by the Board in accordance with its rules of procedure. The Nomination and Remuneration Committee is composed of members of the Board of Directors. The Chair of the Nomination and Remuneration Committee is Seppo Paavola, and the other members are Pasi Korhonen and Leena Laitinen. In 2025, the Nomination and Remuneration Committee met seven times, and its members’ average attend- ance was 100% as follows: Seppo Paavola 7/7, Pasi Korhonen 7/7, and Leena Laitinen 7/7. According to its rules of procedure, the Nomination and Remu- neration Committee has the following duties: • Preparing the nomination of the CEO and Deputy CEO • Preparing the search for successors to the CEO and Deputy CEO • Preparing the terms of the service contracts of the CEO and Deputy CEO for the Board of Directors to decide on • Preparing the remuneration, fees and other employment benefits of the executives belonging to the Atria Group Management Team and who report to the CEO and bringing them before the Board of Directors • Preparing the forms and criteria of the bonus and incentive schemes of top management and bringing them before the Board of Directors • Preparing the content and group assignments of the of the pension programmes and bringing them before the Board of Directors • Submitting its statement on the bonus arrangements for the entire personnel before their approval and assessing their functionality and the achievement of the systems’ goals • If required, discussing possible interpretation problems related to the application of the approved bonus schemes and recommending a solution • If required, reviewing information to be published in the financial statements and, where applicable, in other bonus-related documents • Preparing the remuneration policy and report for the Annual General Meeting, and presenting the remuneration policy and report at the Annual General Meeting and answering any questions concerning the policy and report with regard to the remuneration of the CEO and the Deputy CEO • Performing other duties as assigned to it by the Board of Directors. The Chair of the Nomination and Remuneration Committee convenes the Committee as needed. At the meetings, the matters falling under the duties of the Committee are reviewed. The Nomination and Remuneration Committee may invite other people to join its meetings if deemed necessary, and may use external experts to assist the Committee in fulfilling its duties. As mentioned in section 4 above, Atria’s Annual General Meeting has established a separate Shareholders’ Nomination Board to prepare proposals concerning the election and remu- neration of the members of the Board of Directors, as well as the remuneration of the members of the Supervisory Board for the next Annual General Meeting. 7 . CEO The company’s CEO in charge of managing its day-to-day oper- ations in accordance with the instructions and orders issued by the Board of Directors and informing the Board of Directors of the development of the company’s operations and financial per- formance. The CEO is also responsible for ensuring the legality of the company’s accounting and the reliability of asset manage- ment. The CEO is appointed by the Board of Directors, which decides on the terms of their service contract. Atria’s CEO is Kai Gyllström M.Sc. (Econ.), MBA. Atria also has a Deputy CEO. Tomas Back M.Sc. (Econ.) has served as Deputy CEO since 2018. 8. MANAGEMENT TEAM Atria Group has a Management Team chaired by the CEO. The Management Team assists the CEO in planning the operations and in operational management. The duties of the Manage- ment Team, among other things, drawing up and implementing strategic plans, dealing with major projects and organisational changes, and reviewing and implementing the Group’s risk man- agement measures in their respective areas of responsibility. In 2025, the Management Team met eleven times. CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 14GOVERNANCE 2025
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8. 1 Management T eam on 31 December 2025 KAI GYLLSTRÖM CEO b. 1979 Joined Atria: 2023 Education: M.Sc. (Econ), MBA TOMAS BACK CFO, Deputy CEO b. 1964 Joined Atria: 2007 Education: M.Sc. (Econ) Relevant work experience: Atria Plc, CEO 2023– Arla Sweden, Managing Director 2021–2023 Arla Finland, Managing Director 2018–2021 Arla Europe, Regional Director Food Service 2016–2017 Arla Saudi Arabia, Managing Director 2014-2016 Arla Finland, Marketing Director 2013–2014 Arla Finland, Finance Director 2011–2012 Arla Finland, Strategy Director 2009–2011 Carlsberg, Denmark, Sr. Business Development Manager 2008–2009 Carlsberg, Denmark, Logistics Development Manager 2007–2008 Deloitte, Sr. Strategy Consultant 2005–2007 Marimekko, Finland/Germany, Export Manager 2000–2003 Concurrent key positions of trust: Chair of the Board of Directors in Finnish Food and Drink Industries’ Federation (ETL) 2025–present Member of the Board of Directors in Finnish Food and Drink Industries’ Federation (ETL) 2023–present Member of the Board of Directors in Confederation of Finnish Industries (EK) 2025–present Hanken & SSE, Executive Education Advisory Group Member 2025–present Stiftelsen Svenska Handelshögskolan Member of the Representative Council 2025–present Member of the Board of Directors in China Office of Finnish Industries 2023–present Past key positions of trust: Member of the Board of Directors of Swedish Food Federation 2021–2023 Member of the Board of Directors of KRAV Ekonomisk förening 2022–2023 Shareholding on 31 December 2025: 3,522 Relevant work experience: Atria Plc, CFO, Deputy CEO 2018–present Atria Denmark, Executive Vice President 2018–2023 Atria Scandinavia, Executive Vice President 2011–2017 Atria Baltic, Executive Vice President 2010–2011 Atria Plc, CFO 2007–2011 Huhtamäki Americas/Rigid Europe, CFO 2003–2007 Huhtamäki Oyj, Financial Manager/CFO 1996–2002 Huhtamäki Finance Oy, Financial Manager, Lausanne 1990–1995 Concurrent key positions of trust: – Past key positions of trust: Member and Deputy Chair of the Board of Directors of Swedish Meat Industry Association 2012–2018 Member of the Board of Directors of Swedish Food Federation 2012–2018 Member of the Board of Directors of the Svensk Fågel Service Ab 2017–2018 Shareholding on 31 December 2025: 9,900 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 15GOVERNANCE 2025
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MIKA ALA-FOSSI Executive Vice President, Atria Finland Managing Director of Atria Finland b. 1971 Joined Atria: 2000 Education: Meat industry technician JARMO LINDHOLM Executive Vice President, Atria Sweden Managing Director of Atria Sweden b. 1973 Joined Atria: 2002 Education: M.Sc. (Econ) Relevant work experience: Atria Finland, Executive Vice President 2011–present Atria Finland, Director, Convenience Food and Meat Product Production 2007–2011 Atria Finland, Director, Poultry Business 2006–2007 Atria Ltd, Production Manager 2003–2006 Atria Ltd, Unit Manager 2000–2003 Liha-Saarioinen Ltd, Foreman 1997–2000 Concurrent key positions of trust: Chair of the Board of Directors of Honkajoki Oy 2015–present Member of the Board of Directors of Honkajoki 2011–present Past key positions of trust: Member of the Board of Directors of Länsi-Kalkkuna Oy 2007–2023 Member of the Board of Directors of Nautasuomi Oy 2021–2023 Shareholding on 31 December 2025: 8,960 Relevant work experience: Atria Sweden, Executive Vice President 2018–present Atria Russia, Executive Vice President 2011–2017 Atria Plc, Group Vice President, Product Leadership 2010–2011 Atria Plc, Group Vice President, Product Group Management and Product Development, Atria Finland Ltd, Commercial Director 2005–2010 Atria Ltd, Marketing Manager 2002–2005 AC Nielsen, Account Manager, Marketing Manager 2000–2002 Unilever Finland, Custom Service Manager & e-Business 1998–2000 Concurrent key positions of trust: Member of the Board of Directors of Swedish Food Federation 2018–present Member of the Board of DLF , (Dagligvaruleverantörers Förbund) 2022–present Past key positions of trust: Member of the Board of Directors of the East Office of Finnish Industries 2012–2018 Member of the Board of Directors of KCF (Svenska Kött & Chark Företagen) 2020–2022 Shareholding on 31 December 2025: 5,046 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 16GOVERNANCE 2025
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MEELIS LAANDE Executive Vice President, Atria Estonia Managing Director of Atria Estonia b. 1974 Joined Atria: 2012 Education: MBA LISE ØSTERGAARD Executive Vice President, Atria Denmark Managing Director of Atria Denmark b. 1975 Joined Atria: 2019 Education: B.Sc. Economics and Business Administration Relevant work experience: Atria Estonia, Executive Vice President 2024–present Atria Estonia, Sales and Marketing Director 2012–2024 Biomarket OÜ, Managing Director 2012–2012 Maag Lihatööstus AS, Sales and Marketing Director 2005–2012 Rimi Eesti Food AS (earlier Kesko Food AS), Area Manager 2004–2005 Kadaka Säästumarket AS (parent company Kesko Food AS), Manager of Säästumarket stores in Kohtla-Järve and Sillamäe 2002–2004 Jõhvi Piim TÜ, Sales Manager 2000–2002 Jõhvi Piim TÜ, Farm products Sales Manager 1998–2000 Farmax AS, Veterinarian 1995–1998 Concurrent key positions of trust: Member of the Council of the Estonian Food Industry Association 2024–present Past key positions of trust: – Shareholding on 31 December 2025: 0 Relevant work experience: Atria Denmark, Executive Vice President 2023–present Atria Denmark, Vice President Sales 2019–2023 HKScan DK, Sales Director 2018–2019 HKScan DK, Senior Key Account Manager 2014–2018 Uhrenholt A/S, Key Account Manager 2011–2014 Arla Foods amba, Nordic Product & Brand Manager 2006–2011 Arla Foods amba, Trade Marketing Manager 2003–2006 Concurrent key positions of trust: Member of the Board of Representatives in the Employer’s Association of Danish Industry 2025–present Past key positions of trust: – Shareholding on 31 December 2025: 0 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 17GOVERNANCE 2025
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PASI LUOST ARINEN Executive Vice President, Marketing & Market Insight b. 1966 Joined Atria: 2000 Education: M.Sc. (Econ) MERJA LEINO Executive Vice President, Sustainability b. 1960 Joined Atria: 1996 Education: PhD (Food Chemistry) Relevant work experience: Atria Plc, Executive Vice President Marketing & Marketing Insight 2016–present Atria Finland, Senior Vice President Marketing & Product Development 2011–2016 Atria Plc and Atria Finland, Group Vice President Brand Management & Cold Cuts/Senior Vice President Meat Products 2007–2011 Atria Plc, Group Vice President Marketing & Product Development 2006–2007 Atria Plc, Atria Finland and Atria Sweden, Marketing Director 2000–2006 Valio, Marketing Director 1997–2000 British American Tobacco Nordic, Trade Development Manager 1996–1997 Fazer Makeiset Ltd, Key Account Manager/Category Manager 1993–1996 Mallasjuoma Ltd, Product Manager 1991–1993 Concurrent key positions of trust: Member of the Board of Etelä-Pohjanmaan Kauppakamari 2023–present Past key positions of trust: Member of the Board of Seinäjoen Tangomarkkinat Ltd 2019–2020 Chair of the Board of Seinäjoen Tangomarkkinat 2019–2020 Shareholding on 31 December 2025: 9,984 Relevant work experience: Atria Plc, Executive Vice President, Sustainability 2019–present Atria Finland, Senior Vice President, Convenience Food Business, Quality, Food Safety and Sustainability 2016–2019 Atria Finland, Senior Vice President, Poultry Business, Quality, Food Safety and Sustainability 2011–2016 Atria Plc, Group Vice President, Quality, Product Safety and Food Business (poultry and convenience food) 2007–2011 Atria Finland, Director, Poultry Business, Quality and Product Safety 2000–2007 Atria Finland, Director, Consumer Packed Meat, Quality Development and Product Safety 1999–2000 Atria Finland, Product Development Director 1996–1999 Elintarviketalouden Osaamiskeskus, National Coordinator 1995–1996 Concurrent key positions of trust: Member of the Supervisory Board, Finnish 4H organization 2015–present Member of the Board of UN Global Compact Finland 2023–present Past key positions of trust: Chair of the Board of Directors of Foodwest Ltd 2005–2025 Member of the Board of Foodwest Ltd 1996–2025 Shareholding on 31 December 2025: 9,543 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 18GOVERNANCE 2025
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JENNIFER P AA TELAINEN Executive Vice President, Human Resources b. 1982 Joined Atria: 2024 Education: M.Sc. (Organizations and Management) TAUNO PERÄLÄ Executive Vice President, Industrial Operations b. 1980 Joined Atria: 2011 Education: M.Sc. (Tech.) Relevant work experience: Unilever, HR Director, Nordic and Ice Cream Europe 2022–2023 Unilever, HR Director, Nordic 2020–2022 Unilever, HR Transformation & Change Management Lead, Nordic 2019–2020 Unilever, HR Business Partner, Country HR Lead, Finland 2015–2019 British American Tobacco Finland Oy, National Field Force Manager, Finland 2011–2012 British American Tobacco Finland Oy, HR Business Partner & Head of Organisational Effectiveness, Northern European Cluster 2010–2011 British American Tobacco Finland Oy, HR Manager 2008–2010 Concurrent key positions of trust: – Past key positions of trust: Member of the Board, Pension Fund Polaris Pensionsstiftelse 2015–2020 Shareholding on 31 December 2025: 560 Relevant work experience: Senior Vice President, Industrial Operations, Atria Finland 2022–present Production Director, Atria Finland 2014–2022 Production Manager, Atria Finland 2013–2014 Logistics Manager, Atria Finland 2011–2013 Supply Chain Manager, Ruukki Construction Oy 2009–2011 Production Manager, Ruukki Construction 2004–2009 Concurrent key positions of trust: Member of the Board of Nurmon Bioenergia Oy 2022–present Member of the Board of Lakeuden taivaanraapijat Oy 2023–present Past key positions of trust: – Shareholding on 31 December 2025: 412 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 19GOVERNANCE 2025
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9. REMUNERA TION Atria has prepared a remuneration report in compliance with the Corporate Governance Code that came into effect on 1 January 2025. The statement is available on the company’s website at www.atria.com (Investors → Corporate Governance). 10. INTERNAL CONTROL, RISK MANAGEMENT AND INTERNAL AUDIT 10. 1 Internal control The purpose of internal control within the Atria Group is to support the implementation of Atria’s strategy and the achieve- ment of its goals, and to ensure appropriateness and efficiency of Atria’s operations and the reliability of financial reporting and sustainability reporting. Internal control also ensures compliance with legislation, regulations, agreements and Atria’s values, as well as internal procedures and principles. Atria has strategic and annual goals which steer the entire Group’s operations. These goals are set to all business areas, and they have been approved as part of the strategy process or the annual goal-setting process. The achievement of the goals is monitored monthly, quarterly and yearly. Atria uses Group policies, principles and guidelines for internal control and related steering. The company ensures compliance with the guidelines and rules by providing training. In addition, internal control is supported by internal audit and risk manage- ment. Approval procedures, user rights and controls are also part of internal control. The reliability of reporting is ensured through the documenta- tion of processes and by means of management guidelines, as well as control practices and the related guidelines. The control practices consist of both preventive and investigative measures. Typical control practices include approval procedures, verifi- cation, reconciliation, operational inspections, the protection of assets, the separation of jobs and the administration of user rights. The Group’s CEO and Board of Directors are responsible for the appropriate organisation of internal control. The Board of Direc- tors is responsible for ensuring that Atria has internal control principles and their governance and monitoring in place. The Group’s Board of Directors decided in 2025 to establish a Com- pliance Board for Atria, which, on its own behalf, supports the supervision of compliance. Besides, each business area is respon- sible for arranging effective and appropriate control procedures. 10.2 Risk management Risk management supports the implementation of Atria’s strat- egy and the achievement of its goals, as well as developing the organisation in the operating environment outlined in Atria’s strategy. Risk management also aims to prevent unfavourable events and safeguard business continuity. Atria defines risk as the impact of uncertainty on the company’s objectives. Risks can cause positive or negative deviations from set goals. For reporting purposes, Atria’s risks are divided into four categories: strategic risks, operational risks, liability risks and financial risks. Risks are also divided into internal and external risks depending on whether they are posed by factors external to the Group or by internal factors. Material sustainability aspects i.e. the most significant risks related to sustainability issues and their management are described in the sustainability report. Risk management is guided by the company’s risk management policy, which has been approved by the Board of Directors, and by the ISO 31000 and ISO 31010 standards as applicable. The recommendations of the Securities Market Association (SMA) for listed companies have also been observed in the arrange- ment of risk management. The risk management policy specifies Atria’s risk management goals, principles, responsibilities and authorisations, along with the principles of risk assessment and reporting. More detailed guidelines for operating methods con- cerning risk identification and reporting are provided in Atria’s risk management process guidelines. Risk management is part of Atria’s day-to-day business opera- tions, and risk management enables the company to consider the impact of uncertainty on its operations when making decisions. Risk management at Atria Group is based on consistent risk identification, assessment and reporting, and risk management is part of the annual planning process. The Company’s report by the Board of Directors includes an assessment of the most signif- icant risks and uncertainties. In addition, the company’s regular reporting describes significant short-term risks and uncertain- ties related to the business. Sustainability reports, on the other hand, describe the most significant risks related to sustainability issues and their management. Risks are managed in accordance with the specified approved principles in all business areas and Group operations. The Board of Directors approves the Risk Management Policy and its amendments and oversees the implementation of the principles set out in the policy. The identification, management, control and reporting of sustainability-related material impacts, risks and opportunities is part of Atria’s overall risk manage- ment. The Group CEO is responsible for the proper organisation of risk management at Atria and the Group CFO for the devel- opment of the risk management and risk reporting framework. The results of the Atria Group’s risk management and measures to manage risks, including material impacts, risks and oppor- tunities related to sustainability and their management, are presented to the Board of Directors of Atria Plc twice a year. The Board of Directors and the members of the Group Man- agement Team are responsible for identifying and assessing strategic risks and implementing risk management in their respective areas of responsibility. Strategic risks (including material impacts, risks and opportunities related to the strategy) are discussed at least annually and separately for each significant CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 20GOVERNANCE 2025
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business decision. Risk management measures are decided at the same time. The members of the Group Management Team are also responsible for the identification and assessment of operational risks and the implementation of risk management in their respective business areas and/or areas of responsibility. In the Group’s largest Business Areas, risk assessment and monitor- ing is also carried out by specific Business Area internal steering and responsibility groups, composed of senior management and coordinated by the Risk Manager. Risk Manager is responsible for reporting the results and development measures of the steer- ing groups to the members of the Group Management Team and the Board of Directors, who oversee the risk management work. The Group Finance Committee, comprising the Group CEO, CFO, Treasurer and Group Controller as permanent members, is responsible for the identification and assessment of financial risks and the implementation of risk management throughout the Group. The work of the Finance Committee is supervised by the Board of Directors. Targets relating to material impacts, risks and opportunities are set as part of both the Group’s strategy work and operational risk management by those involved in risk management, and the targets are monitored as part of risk management reporting. The key findings of the risk mapping exercise undertaken as part of the Group’s planning process are taken into account in the preparation of the annual internal audit plan. Each Atria employee is responsible for identifying and assessing risks related to his or her own work or otherwise identified, and for presenting and preventing risks. The Group’s governance, management and supervisory bodies use external assistance as necessary to develop risk management skills and expertise (including in relation to sustainability), The need for specific skills and training is identified through internal assurance and evaluation. The most significant risks and uncertainties brought to the attention of the Board of Directors are reported in the Board’s Annual Report in the section Risk management at Atria. 10.3 Internal audit Internal Audit evaluates and inspects the effectiveness of the Group’s internal control system, the relevance and efficiency of the activities, and compliance with guidelines. It also aims to promote the quality of operations and the processes, ensure the achievement of Atria’s goals and the effectiveness of risk management. The target of internal audit is also to highlight best practices and development opportunities in various functions. Internal Audit assesses the following areas: • Accuracy and adequacy of financial information • Compliance with operating principles, guidelines and regulations • Protection of property against losses • Economical and efficient use of resources • Implementation of changes • Measures resulting from changes in the operating environment • Opportunities provided by various practices and the utilisation of best practices The results of internal auditing are documented and discussed with the audited area of operation and Group management. A summary of the audit results is presented to the Board of Direc- tors at least once a year. Regular discussions are held with the auditor to ensure that the audit activities cover a sufficiently wide range of operations and to avoid overlapping audit operations. The Board of Directors decides the annual plan for internal auditing. The preparation of the audit plan is guided by risk management, issues identified as part of the Group’s internal reporting, goals related to improving the quality and efficiency of the operations, and current issues in the company’s operating environment. Atria’s Compliance function together with Group Control function is responsible for internal auditing in coopera- tion with an external service provider. Where necessary, separate studies commissioned by the Board of Directors or the Group’s management will be conducted. 11. AUDITING AND SUST AINABILITY REPORTING ASSURANCE In line with its Articles of Association the company has one (1) auditor which must be an auditing firm approved by the Finnish Patent and Registration Office. The company shall have one (1) sustainability reporting assurance provider which must be an authorised sustainability audit firm approved by the Finnish Patent and Registration Office. The auditor’s and the sustaina- bility reporting assurance provider’s term of office expires at the end of the next Annual General Meeting following the election. The auditor is responsible for auditing the Group’s accounts, its financial statements and administration. The auditor provides Atria’s shareholders with an auditor’s report in accordance with the laws, in connection with the company’s financial statements. The assurance provider of the sustainability report is responsible for reviewing the sustainability report prepared by the company and issuing an assurance report on the sustainability report. The auditor and the assurance provider report their findings regularly to the Board of Directors and the management, and presents the audit plan. The auditor and the assurance provider participate in Board meetings at least once a year. Deloitte Oy was appointed as the company’s auditor and sus- tainability reporting assurance provider on 24 April 2025, with Marika Nevalainen, Authorized Public Accountant and Author- ized Sustainability Auditor, as the principally responsible auditor CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 21GOVERNANCE 2025
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and sustainability assurance provider, until the end of the next Annual General Meeting. Remuneration is paid according to an invoice approved by the company. 11. 1 Auditor’s and Sustainability Assurance Provider’s remuneration for the 2025 financial year In 2025, the Group paid EUR 424,000 to Deloitte Oy as the Auditor’s and Sustainability Assurance Provider’s remuneration. For non-audit services, EUR 17,000 was paid in 2025. 12. INSIDER POLIC Y Atria complies with Nasdaq Helsinki Ltd’s Guidelines for Insid- ers. In addition, Atria’s Board of Directors has confirmed Atria’s insider guidelines, which complement other insider guidelines and include instructions concerning insiders and insider admin- istration. The company’s insider guidelines have been distributed to all persons discharging managerial duties as defined by the company, as well as to the people involved in the preparation of financial reporting. The guidelines are also available on the company’s intranet. Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) has been applied since 3 July 2016. Atria has not established a permanent insider register. Insider information is managed by means of project-specific insider registers that are established and maintained as needed. All project-specific insiders are informed about their insider status in writing and provided with the appropriate insider instructions. Atria has determined that the members of the Board of Direc- tors, the members of the Supervisory Board, the CEO and the members of Atria Group Management Team satisfy the defini- tion of personnel discharging managerial duties with a notifica- tion obligation. The company maintains a list of the personnel discharging managerial duties and their related parties. The company’s legal department and CFO monitor compliance with the insider guidelines. Trading in the company’s financial instruments has been restricted for the personnel discharging managerial duties and involved in the preparations of financial reporting in such a way that they cannot trade in the company’s shares 30 days prior to the publication of an interim report and a release of the financial statements. Should the period between the end of a review period and the publication exceed 30 days the restriction period is adjusted accordingly. 13. RELA TED-P ARTY TRANSACTIONS Atria’s business operations may include regular business trans- actions with its related parties. The ordinary business activities of Atria Group’s primary production companies may include the sale and purchase of animals, grain and feed to and from people included in Atria’s related parties. In addition, Atria Group’s companies may purchase and sell services and raw materials from and to companies included in Atria’s related parties. The company has defined its related parties and maintains a list of such related parties. The related parties have been provided with the necessary guidelines. Each person included in Atria’s related parties is responsible for ensuring that Atria has up-to- date information about their related parties. The company updates its list of related parties at least once a year by sending an information request to the people included in its related parties. The communities included in Atria’s related party listing are checked in connection with this. Decision-making policy have been prepared for business trans- actions with related parties. These guidelines enable Atria to identify related-party transactions and the related criteria and to assess in advance whether the transaction is part of its ordinary business. The purpose of the guidelines is to ensure the careful preparation of related-party transactions and the acquisition of any reports, statements and/or assessments necessary for the preparation, as well as decision-making in accordance with the disqualification regulations. Atria has a monitoring and reporting system for related-party transactions, and control measures are also implemented reg- ularly. Related-party transactions are reported annually to the Board of Directors to ensure that the transactions are part of the company’s ordinary business activities and are conducted on market terms. 14. COMMUNICA TIONS The aim of Atria’s investor communications is to ensure that the markets have accurate and sufficient information to determine the value of Atria’s shares at all times. Another aim is to provide the financial markets with comprehensive information so that the market participants can establish an informed and fact based view of Atria as an investment. 14. 1 Silent period Atria has established a silent period for its investor relations communications. The silent period covers 30 calendar days prior to the publication of interim reports and annual reports. Should the time between the end of a review period and the publication exceed 30 days that will be the duration of the silent period. Atria will not issue any statements on its financial standing during this period. 14.2 Investor information Atria publishes financial information in real time on its website at www.atria.com. The website contains annual reports, interim reports, and press and stock exchange releases. Information about the company’s largest shareholders is updated regularly on the website. The disclosure policy approved by Atria’s Board of Directors describes the key principles and procedures followed by Atria as a listed company in its communications with the media, capital markets and other stakeholders. Atria’s disclosure policy is available in its entirety on the company’s website at www.atria.com (Investors → Disclosure Policy). CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 22GOVERNANCE 2025
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REMUNERA TION REPORT 2025 1. INTRODUCTION This remuneration report (hereinafter referred to as “the Report”) presents information about the remuneration of Atria’s Board of Directors, Supervisory Board, CEO and Deputy CEO for the period from 1 January to 31 December 2025. This remuneration report has been prepared in accordance with the requirements of the Securities Markets Act, the Limited Liability Companies Act and the Corporate Governance Code 2025 (the “Corporate Governance Code”) published by the Securities Market Association. Atria’s long-term goal is to improve profitability, accelerate growth and increase the company’s value. The aim of Atria’s remuneration is to promote the company’s long-term financial success, competitiveness and the positive development of the shareholder value, as well as to encourage, motivate and commit key employees and managers to achieving strategic goals. Remu- neration is aligned with Atria’s long-term value creation, busi- ness strategy, financial results and employee inputs. Remunera- tion must be understandable, consistent, transparent, internally fair and non-discriminatory. Remuneration follows legislation and good governance. In 2025, the remuneration of the Board of Directors, the Super- visory Board, the CEO and the Deputy CEO followed Atria’s remuneration policy, which was discussed and approved in an advisory manner at Atria’s Annual General Meeting on 23 April 2024. The Board of Directors decided to update the remunera- tion policy to be proposed to the 2026 Annual General Meeting. During 2025, the CEO’s salary was raised to correspond to the market level. No significant changes were made to the remu- neration of the CEO’s deputy. The Annual General Meeting of 2025 decided to increase the monthly remuneration of the members of the Board of Directors and the Supervisory Board as described below. There were no deviations from the policy, and no remuneration was recovered during 2025. The 2025 Annual General Meeting approved the 2024 remuner- ation report in an advisory manner. 2. DEVELOPMENT OF A TRIA ’S FINANCIAL PERFORMANCE AND REMUNERA TION In 2025, Atria Group’s financial performance was strong. Net sales totalled EUR 1,813.7 million (EUR 1,755.4 million). Adjusted EBIT was EUR 69.9 million (EUR 65.4 million), up by EUR 4.5 million from the previous year. A favourable sales structure and improved operational efficiency had a positive impact on the result. The development of the remuneration of Atria’s bodies and employees during the last five years is pre- sented next page. ADJUSTED EBIT CUMULATIVE, EUR MILLION NET SALES CUMULATIVE, EUR MILLION 80.0 2021 2022 2023 2024 2025 70.0 60.0 20.0 0.0 10.0 30.0 40.0 50.0 Q1 Q2 Q3 Q4 2,000 2021 2022 2023 2024 2025 1,800 1,600 800 400 600 1,000 1,200 1,400 Q1 Q2 Q3 Q4 200 0 7. 8 1 9.1 38.938.9 49.2 1.11.1 16.216.2 32.332.3 49.0 10.910.9 20.920.9 40.2 40.2 49.6 8.08.0 26.426.4 52.252.2 65.4 12.812.8 30.530.5 55.955.9 69.9 361361 749749 1,1371,137 1,540 375375 807807 1,2451,245 1,697 428428 885885 1,3151,315 1,753 417417 871871 1,3101,310 1,755 420420 880880 1,3371,337 1,814 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 23GOVERNANCE 2025
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Paid fees/salaries, EUR 2021 2022 2023 2024 2025 Supervisory Board * Annual fee paid to the Chair 18,000 18,000 18,000 18,000 19,600 Annual fee paid to the Deputy Chair 9,000 9,000 9,000 9,000 9,800 Board of Directors Annual fee paid to the Chair 57,600 57,600 59,200 60,000 61,600 Annual fee paid to the Deputy Chair 31,200 31,200 32,800 33,600 35,200 Annual fee paid to members 26,400 26,400 28,800 30,000 31,600 CEO Fixed remuneration 559,479 569,403 654,776 501,120 552,156 Variable remuneration 210,312 304,627 661,929 40,299 199,023 Deputy CEO Fixed remuneration 315,660 321,563 331,080 338,209 346,412 Variable remuneration 92,557 127,664 138,635 75,224 133,751 Employees Average salary ** 54,959 55,444 55,790 55,944 59,130 * No annual fee is paid to the members of the Supervisory Board. ** Personnel costs of employees, excluding indirect costs, divided by the number of employees (FTE). The figures for the divested subsidiaries that operated in Russia in 2022 and 2021 are not included in the reported figures. CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 24GOVERNANCE 2025
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3. REMUNERA TION OF MEMBERS OF THE SUPERVISORY BOARD Atria’s 2025 Annual General Meeting decided that the meeting compensation of the members of the Supervisory Board and the compensation for loss of working time for the meeting and assignment days will be the same as in 2024, but decided to increase the monthly fees of the Chair and Vice Chair of the Supervisory Board in accordance with the proposal prepared by the company’s Nomination Committee. The decided fees and compensations were as follows: • Meeting compensation: EUR 350 per meeting • Compensation for loss of working time: EUR 300 for meeting and assignment days • Monthly fee of the the Chair of the Supervisory Board: EUR 1,700 per month • Monthly fee of the Deputy Chair of the Supervisory Board: EUR 850 per month • Travel allowance according to the company’s travel policy. Meeting fees and compensation for loss of working time are paid for meetings of the Supervisory Board, as well as to the Chair and Deputy Chair of the Supervisory Board for meetings of the Board of Directors which they attend to carry out the tasks of the Supervisory Board. The members of the Supervisory Board have no share incentive plans or share-based bonus schemes, nor are they are entitled to any benefits other than the remunerations decided on annually by the Annual General Meeting. The annual and meeting fees paid (EUR) to the members of the Supervisory Board (including the fees paid by other Atria Group companies) in 2025 were as follows: Supervisory Board Members Atria Plc A-Farmers Ltd A-Rehu Oy Nautasuomi Oy Annual fees Meeting fees Annual fees Meeting fees Annual fees Meeting fees Annual fees Meeting fees Tota l Halonen Jyrki, Chair 19,600 6,400 26,000 Anttikoski Juho, Deputy Chair 9,800 5,800 15,600 Asunmaa Mika 3,200 7,800 5,500 16,500 Herrala Mika 3,200 5,500 7,800 1,950 18,450 Hyttinen Veli, until 23 April 2025 1,250 2,600 1,950 5,800 Isoaho Vesa, from 24 April 2025 1,950 1,950 Isomäki Jaakko 3,200 3,200 Iso-Tuisku Lotta 1,650 1,650 Joki-Erkkilä Jussi 1,900 1,900 Kajan Jari, from 24 April 2025 1,950 1,950 Kiviniemi Juha, until 23 April 2025 2,250 2,250 Lajunen Ari 2,550 3,900 2,600 9,050 Lapatto Vesa 3,500 3,500 Nikkola Juha 3,200 3,200 Niku Mika 3,200 15,600 5,500 24,300 Nykänen Ilkka, from 24 April 2025 1,050 1,050 Pöyhönen Ari 3,200 2,900 6,100 Rantala Suvi 3,200 3,200 Sairanen Risto 3,200 3,200 6,400 Sandberg Ola 3,200 3,200 Savela Juha 3,200 7,800 2,600 13,600 Uusitalo Piia 3,200 3,200 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 25GOVERNANCE 2025
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4. REMUNERA TION OF THE MEMBERS OF THE BOARD OF DIRECTORS Atria’s 2025 Annual General Meeting decided that the meeting compensation of the members of the Board of Directors and the compensation for loss of working time for the meeting and assignment days would be the same as in 2024, but the decision was made to increase the monthly fees in accordance with the proposal prepared by the company’s Nomination Committee. The decided fees and compensations were as follows: • Meeting compensation: EUR 350 per meeting • Compensation for loss of working time: EUR 300 for meeting and assignment days • Fee of the Chair of the Board of Directors: EUR 5,200 per month • Fee of the Deputy Chair of the Board of Directors: EUR 3,000 per month • Fee of the members of the Board of Directors: EUR 2,700 per month • Travel allowance according to the company’s travel policy. Meeting fees and compensation for loss of working time are paid for the members of the Board of Directors not only for Board meetings but also for meetings of the Remuneration and Nomi- nation Committee and those meetings of the Supervisory Board which Board members attend. Remuneration is paid in mone- tary compensation. The members of the Board of Directors have no share incentive plans or share-based bonus schemes, nor are they are entitled to any benefits other than the remunerations decided on annually by the Annual General Meeting. In 2025, monthly and meeting fees paid to the members of the Board of Directors (including fees paid by companies belonging to Atria Group) were as follows: Atria Plc A-Rehu Oy Nautasuomi Oy Members of the Board of Directors Annual fees Meeting fees Annual fees Meeting fees Annual fees Meeting fees Tota l Paavola Seppo, Chair 61,600 18,650 80,250 Korhonen Pasi, Deputy Chair 35,200 16,900 52,100 Ginman-Tjeder Nella, until 23 April 2025 10,000 2,800 12,800 Joukio Mika 31,600 6,300 37,900 Kaikkonen Jukka 31,600 13,600 45,200 Kiviniemi Juha, from 24 April 2025 21,600 6,200 27,800 Kopola Nina, from 24 April 2025 21,600 4,200 25,800 Laitinen Leena 31,600 9,100 40,700 Paxal Kjell-Göran 31,600 12,400 4,550 48,550 Ritola Ahti, until 23 April 2025 10,000 5,800 5,200 1,050 5,200 1,950 29,200 Viertola-Truini Jaana, 24 April – 9 July 2025 5,400 1,050 6,450 CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 26GOVERNANCE 2025
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5. REMUNERA TION OF THE CEO AND DEPUTY CEO Introduction The remuneration of Atria Plc’s management aims to promote the company’s long-term financial success and competitiveness and the favourable development of shareholder value. In 2025, the remuneration of the CEO and Deputy CEO con- sisted of the base salary (including fringe benefits), short-term incentives (STI), long-term incentives (LTI), pension and other benefits. According to the remuneration policy, the CEO’s vari- able remuneration corresponds to a maximum of 50 percent of the CEO’s maximum salary, and for the Deputy CEO, 40 percent of the Deputy CEO’s maximum salary. Managerial group pension benefits confirmed by Atria’s Board of Directors have been arranged for the members of Atria Group’s Management Team who are covered by Finnish and Swedish social security. The pension arrangement is payment-based, and the amount of pension is based on the monetary salary and fringe benefits of the CEO and Deputy CEO defined by the Board of Directors without short- or long-term incentives. The retirement age based on the group pension arrangement is mainly at least 63 years for the CEO and Deputy CEO. Accord- ing to the pension arrangement agreement, if pension legislation changes, the retirement age will be amended. The CEO’s notice period is six months for both parties. If the company terminates the CEO contract, the CEO is entitled to the salary for the period of notice and severance pay, which combined correspond to 18 months’ salary. There are no other terms and conditions applicable to the termination of the CEO contract. The Deputy CEO’s period of notice is six months for both parties. If the company terminates the Deputy CEO contract, the Deputy CEO is entitled to the salary for the period of notice and severance pay, which combined correspond to 14 months’ salary. There are no other terms and conditions applicable to the termination of the contract. Short-term incentive plan In 2025, Atria’s CEO and Deputy CEO were covered by Atria’s short-term incentive plan. The maximum amount of the CEO’s bonus was 50 percent of the annual salary, and the maximum amount of the Deputy CEO’s bonus was 40 percent of the annual salary. In 2025, the bonus paid to the CEO under the short-term incentive plan was based on the Group’s EBIT, net sales and LTIFR targets, and the bonus paid to the Deputy CEO was based on the Group’s EBIT, net sales and LTIFR targets, as well as individual performance criteria. The bonuses earned under the plan in 2025 will be paid in 2026. In 2025, the CEO was paid a total of EUR 111,781 in bonuses earned in 2024 under the short-term incentive plan. The total of the bonuses paid to the Deputy CEO was EUR 86,846. CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 27GOVERNANCE 2025
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Long-term incentive plan In 2025, the CEO and Deputy CEO participated in Atria’s long- term 2025–2027 incentive plan, which has a three-year earning period. The plan was reformed at the end of 2024 and the share-based incentive scheme has one earning period covering the financial years 2025–2027. In addition, in 2025, the CEO and the Deputy CEO participated in the transitional share-based incentive scheme 2025, which has one earning period for 2025. The share-based incentive scheme aims to encourage Atria’s management to acquire Atria shares, and to increase the compa- ny’s value through management decisions and actions over the long term. The earning criteria for the 2025–2027 incentive scheme are linked to earnings per share EPS (70%), organic growth (20%) and carbon dioxide emissions (10%). The bonuses will be paid in one instalment during the year following the earning period, partly in Atria shares and partly in monetary compensation. The bonus earned through the transitional share scheme 2025 is linked to the company’s earnings per share EPS (70%) and organic growth (30%). The bonuses will be paid in full in one instalment during the year following the earning period, that is, 2026, partly in Atria shares and partly in monetary compensa- tion. The cash component of the bonuses payable under both incen- tive schemes is intended to cover the taxes and statutory social insurance contributions arising from the bonuses for the CEO and the Deputy CEO. If the employment relationship of the CEO or Deputy CEO ends before the payment of the bonus, the bonus may not be paid. There are no restrictions relating to the owner- ship of awarded shares. In 2025, the CEO was paid the bonus accrued during the 2024 earning period under the 2024–2026 long-term incentive scheme, as well as the bonus accrued during the 2023 earning period under the long-term 2021–2023 incentive scheme, which corresponded to a total of 7,319 Atria series A shares. The bonus was paid in 2,928 Atria series A shares and as a cash compo- nent of EUR 52,340.72. In 2025, the Deputy CEO was paid the bonuses accrued during the earning period 2025 under the long- term incentive scheme for 2024–2026, as well as the bonuses accrued in 2022 and 2023 under the long-term incentive scheme for 2021–2023, which corresponded to the value of a total of 3,935 Atria series A shares. The bonuses were paid in 1,574 Atria series A shares and as a cash component of EUR 28,143.12. 2025 Criterion Weighted value Realised value Realised value Maximum remuneration Earned remuneration Payment year CEO EBIT 60% 100% 81.90% 50% EUR 223,606 2026Net sales 30% 64% LTIFR 10% 27% Deputy CEO EBIT 60% 100% 85.50% 40% EUR 114,216 2026 Net sales 20% 64% LTIFR 10% 27% Personal criterion 10% 100% CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 28GOVERNANCE 2025
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LTI Earning period Earning criterion Weighted value Realised value Maximum number of shares for the CEO Number of shares earned Maximum number of shares for the Deputy CEO Number of shares earned Payment schedule 2025–2027 2025–2027 Earnings per share (EPS) 70% 25,000 6,000 2028Organic growth 20% Carbon dioxide emissions 10% Bridge Plan 2025 2025 Earnings per share (EPS) 70% 100% 8,333 8,333 2,000 2,000 2026 Organic growth 30% 2024–2026 2024 Earnings per share (EPS) 70% 70% 25,000 17,500 6,000 4,200 2025, 2026, 2027 Organic growth 30% 2021–2023 2023 Earnings per share (EPS) 70% 26.73% 16,667 4,455 6,000 1,605 2024, 2025, 2026 Organic growth 30% 2021–2023 2022 Earnings per share (EPS) 70% 100% 25,000 25,000 6,000 6,000 2023, 2024, 2025 Organic growth 30% Remuneration 2025, EUR Paid 2025 Earned 2025 Percentage of remuneration Short-term incentive Percentage of remuneration Long-term incentive* Percentage of remuneration Paid total 2025 Pension benefits Short-term incentive Long-term incentive**Base salary Gyllström Kai 552,156 74% 111,781 15% 87,242 12% 751,179 135,000 223,606 125,412 Back Tomas 346,412 72% 86,846 18% 46,905 10% 480,163 89,346 114,216 30,100 Remuneration of the CEO and the Deputy CEO in 2025: * Calculated using share value of EUR 11.92 / 20 March 2025. Includes the portion payable in monetary compensation. ** Calculated using share value of EUR 15.05. Includes the portion payable in monetary compensation. CONTENT Corporate Governance Statement Annual General Meeting Shareholders’ Nomination Board Supervisory Board Board of Directors Board Committees CEO Management Team Remuneration Internal control, risk management and internal audit Auditing and Sustainability Reporting Assurance Insider Policy Related-party transactions Communications REMUNERA TION REPORT Introduction Development of Atria’s financial performance and remuneration Remuneration of the Supervisory Board members Remuneration of the Board of Directors Remuneration of the CEO and Deputy CEO 29GOVERNANCE 2025
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