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Fodelia Kotimaista kasvuvoimaa FODELIA OYJ GROUP BUSINESS REVIEW 1 January - 31 March 2021 ( unaudited ) THE GROUP'S NET SALES GREW BY 40 % HIGHLIGHTS OF THE BUSINESS REVIEW Summary for January - March 2021 • • • Net sales for the period grew by 39.6 % and amounted to EUR 7,520,000 ( Fodelia Oyj 1-3 2020 : EUR 5,387,000 ) EBITDA for the period was EUR 350,000 , representing 4.7 % of net sales ( Fodelia Oyj 1-3 2020 EUR 252,000 and 4.7 % ) Operating profit for the period was EUR -40,000 , representing 0.5 % of net sales ( Fodelia Oyj 1-3 2020 EUR 32,000 and 0.6 % ) Forecast for 2021 The company's management maintains the previous forecast and estimates the Group's net sales in 2021 to be approximately EUR 30-35 million with an operating profit margin of approximately 5-8 % . Management estimates that profit for the period will not be generated evenly between quarters . The COVID - 19 pandemic is expected to have a negative impact on the company's operations in the first half of the year , with growth in net sales and profitability to be focused strongly on the end of the year . Key figures Group Fodelia Oyj 1-3 / 2021 Fodelia Oyj 1-3 / 2020 Change % Fodelia Oyj 1-12 / 2020 Net sales EBITDA % of net sales EBIT 7,520 5,387 39.6 22,963 350 252 38.9 1,695 4.7 4.7 7.4 -40 32 -226.1 839 % of net sales -0.5 0.6 3.7 Profit for the period -99 -38 -161.7 623 % of net sales -1.3 -0.7 2.7 Earnings per share , EUR -0.01 -0.01 0.09 Equity ratio , % 42.3 48.5 42.1 Net gearing , % 83.8 10.8 72.3 Return on equity , % -4.1 -2.2 7.1 Return on investment , % -0.8 1.1 5.0 Balance sheet total Average number of employees 22,762 124 14,091 61.1 20,886 70 77.1 89 CEO'S REVIEW " January - March was very challenging for the Foodservice - market due to restaurants ' opening restrictions and other change in consumer behaviour caused by the coronavirus pandemic . According to the Finnish Grocery Trade Association , the Foodservice wholesale net sales decreased 22,1 per cent during January - March . Despite the negative development of the market , The Group's net sales grew by approximately 40 % during the period compared to the corresponding period of the previous year . In addition to the new business units , Perniön Fodelia Oyj / Tuotetie 1 , FI - 92930 PYHÄNTÄ , FINLAND / www.fodelia.fi/en