Atria Finland’s Q4 EBIT €15.6 million

Unbelievable result it is.  Not much more to say.  Financial statement tells the reason:

The increase in comparable EBIT was due to improved cost management and higher average sales prices year-on-year.

Higher average sales prices might be quarter dependent, Christmas sales are quite special, but one would think that better cost management is not going anywhere, which means that performance improvements will continue in the future.

Should one now expect that good results will follow from quarter to quarter?  Maybe, maybe not.

Report’s Outlook for the whole Group’s future tells this:

In 2014, consolidated EBIT without non-recurring items was EUR 39.6 million. In 2015, EBIT is projected to be at the same level and net sales are expected to decrease.

It is an utterly disturbing statement specifically with regard to operating profit.  It means that cost management improvement in Atria Finland has not been significant or some foreign business areas will continue to decline.

Rather contradictory feelings, to say the least, so let’s have some sausage ice cream.  Warning:  Very Swedish.

We will look at Atria again later but on Friday, February 27^th we are going to look at HKScan’s businesses.  No sausage here.  All warnings.

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