Last €5.82 EUR
Change Today +0.17 / 3.01%
Volume 244.7K
As of 11:29 AM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

hkscan oyj-a shs (HKSAV) Snapshot

Open
€5.70
Previous Close
€5.65
Day High
€5.86
Day Low
€5.69
52 Week High
03/3/15 - €5.86
52 Week Low
10/16/14 - €3.12
Market Cap
319.2M
Average Volume 10 Days
156.7K
EPS TTM
€1.06
Shares Outstanding
49.6M
EX-Date
04/15/15
P/E TM
5.5x
Dividend
€0.10
Dividend Yield
1.72%
Current Stock Chart for HKSCAN OYJ-A SHS (HKSAV)

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hkscan oyj-a shs (HKSAV) Details

HKScan Oyj, together with its subsidiaries, produces, markets, and sells pork, beef, poultry and lamb products, processed meats, and convenience foods to the retail, food service, industrial, and export customers. It offers white meat, red meat, cold cuts, organic chicken, fresh and frozen pork products, salami chips, and sausages, as well as eggs. The company sells its products under the HK, Kariniemen, Portti, Rakvere, Tallegg, Rigas Miesnieks, Jelgava, Klaipedos Maistas, Scan, Pärsons, Rose, and Sokolów brand names. It also exports its products to approximately 50 countries. The company was formerly known as HK Ruokatalo Group and changed its name to HKScan Corporation in January 2007. HKScan Oyj was founded in 1913 and is headquartered in Turku, Finland. HKScan Oyj is a subsidiary of LSO Osuuskunta.

7,327 Employees
Last Reported Date: 02/11/15
Founded in 1913

hkscan oyj-a shs (HKSAV) Top Compensated Officers

Chief Executive Officer, President and Member...
Total Annual Compensation: €676.0K
Compensation as of Fiscal Year 2013.

hkscan oyj-a shs (HKSAV) Key Developments

HKScan Oyj Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014; Provides Financial Guidance for Fiscal 2015; Recommends to Pay Regular Dividend and Additional Dividend for 2014; Announces Loan Receivable Write-Downs

HKScan Oyj reported unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2014. For the quarter, net sales were €523.2 million against €547.9 million for the same period of last year. Operating profit was €7.1 million against €10.9 million for the same period of last year. Profit before taxes was €4.3 million against €7.7 million for the same period of last year. Profit for the period was €5.2 million against €6.6 million for the same period of last year. Earnings per diluted share from continuing operations were €0.09 against €0.10 for the same period of last year. Net sales declined from the same period the previous year. For the year, net sales were €1,988.7 million against €2,113.2 million for the same period of last year. Operating profit was €55.5 million against €11.7 million for the same period of last year. Profit before taxes was €51.2 million against €6.7 million for the same period of last year. Profit for the period was €57.1 million against €9.8 million for the same period of last year. Earnings per diluted share from continuing operations were €1.05 against €0.16 for the same period of last year. Cash flow from operating activities was €63.3 million against €110.8 million for the same period of last year. Net debt was €141.5 million against €335.3 million last year. The company announced that costs in the fourth quarter include a €1.1 million loan receivable write-down in a Swedish associated company. The Board of Directors recommended that the company pay a dividend of €0.10 per share for 2014, and an additional dividend of €0.39 per share, that is a total of approximately €26.4 million. The company expects the economic and demand outlook and, accordingly, sales price competition to remain tough in 2015. However, the Group's strategy work, restructuring and development programmes together with active sales margin management should contribute to better financial performance in 2015.

District Court Rejects Oy Primula AB Bankruptcy Estate's Action for Damages Against HKScan Corporation and HKScan Finland Oy

The District Court of Southwest Finland has, 2 February 2015, issued its interlocutory ruling by which it rejects as patently unfounded an action for damages submitted against HKScan Corporation and HKScan Finland Oy by the bankruptcy estate of Oy Primula Ab. Primula sued HKScan for breach of contract concerning initial investigations carried out in 2009 and 2010 by HK Ruokatalo (today HKScan Finland Oy) and Primula related to potential collaboration between HKScan and Primula’s Järvenpää production site (Järvenpään Herkkutehdas Oy). The District Court denied the claim for damages and additionally ordered Oy Primula Ab’s bankruptcy estate to pay HKScan’s legal fees. The court ruling is not yet final and binding.

HKScan Group Plans to Restructure Production Set-Up in Denmark

HKScan Group continues to streamline its operational footprint. The group aims to improve operational efficiency by restructuring its production capacity in Denmark, where the group has production facilities in Vinderup and Skovsgaard. The planned actions will create an efficient production platform supporting the group’s strategic goal of boosting profitable growth. The restructuring will centralize poultry slaughtering and cutting at the modern Vinderup facility. The investments and rebuild completed at Vinderup over the past two years have increased HKScan’s slaughtering and deboning capacity, resulting in excess capacity. Packaging and warehousing will remain based in Skovsgaard. Scheduled for completion by the end of March 2015, the restructuring will result in a net headcount reduction of approximately 85-95 employees in total, involving reorganization both in Skovsgaard and Vinderup. The plan is a subject to statutory negotiations, which will begin on January 6, 2015. The targeted annualized cost reduction and profit improvement is in excess of EUR 5 million, including efficiency measures related to the production restructuring. The impact is targeted to materialize from the second quarter 2015 onwards. The restructuring causes a non-recurring cost of EUR 1.6 million, which will be reported in the fourth quarter of 2014.

 

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