OLVI GROUP'S INTERIM REPORT, 1 JANUARY TO 30 SEPTEMBER 2007 (9 MONTHS) Olvi Group's strong growth continued in January-September in all of the four operating countries. Net sales increased by 20.0 percent to 156.7 (130.6) million euro while operating profit improved by 19.2 percent to 19.9 (16.7) million euro, an increase of 3.2 million euro. Profitability improved in all of the four operating countries. Improvement was particularly significant in Latvia and Lithuania. The Group's gross capital expenditure amounted to 14.8 (15.3) million euro, which is on a par with January-September 2006. The equity to total assets ratio remained good at 49.7 (50.0) percent. Earnings per share improved to 1.58 (1.32) euro. OLVI GROUP'S KEY INDICATORS Change 1-9/2007 1-9/2006 % 1-12/2006 Net sales, MEUR 156.7 130.6 + 20.0 170.3 Operating profit, MEUR 19.9 16.7 + 19.2 18.5 Gross capital expenditure, MEUR 14.8 15.3 - 3.3 21.9 Earnings per share, EUR 1.58 1.32 + 19.7 1.43 Equity per share, EUR 8.35 7.36 + 13.4 7.46 Equity to total assets, % 49.7 50.0 49.6 Gearing, % 42.4 47.8 47.3 SALES VOLUME, NET SALES AND EARNINGS IN JANUARY-SEPTEMBER 2007 Olvi Group's sales volume, net sales and earnings Olvi Group's sales from January to September totalled 260 (233) million litres, an increase of 26 million litres or 11.3 percent. The sales improvement in Finland was 18.3 percent and in the Baltic states 10.7 percent. The Group's net sales from January to September amounted to 156.7 (130.6) million euro, representing an increase of 26.1 million euro or 20.0 percent. Net sales in Finland increased by 10.0 million euro or 16.5 percent, and aggregate net sales in the Baltic states increased by 19.4 million euro or 25.7 percent. Net sales growth in the Baltic states in January-September clearly outperformed the growth in sales volume. Olvi Group's operating profit for January-June stood at 19.9 (16.7) million euro, or 12.7 (12.8) percent of net sales. This represents an increase of 3.2 million euro or 19.2 percent on the previous year. Operating profits improved on the previous year in all of the Group companies, particularly in the Latvian subsidiary A/S Cesu Alus that posted an operating profit improvement of 133 percent. In the period under review, earnings after taxes stood at 16.4 (13.7) million euro, an improvement of 2.7 million euro or 19.8 percent on the previous year. Parent company Olvi plc The parent company Olvi plc's sales in January-September totalled 100 (85) million litres, an increase of 15 million litres or 18.3 percent. Factors contributing to the growth included a controlled increase in promotional sales of beer, new products in ciders, the successful launch of the OLVI Greippi Lonkero product, a long drink that is sold in grocery shops and filled a gap in Olvi's product range, as well as new customer relationships. Cool and rainy summer weather slowed down sales growth in the third quarter. The greatest sales growth was seen in beers and long drinks. Sales of soft drinks and ciders also increased substantially thanks to expanded product ranges. Sales of mineral waters declined due to intense price competition and cool weather. Olvi plc's market share in medium-strength beer has increased constantly for a few years. According to the Nielsen market research company, Olvi plc took the second place in retail sales of beer during the four-week review period that ended in the middle of September. At that time, Olvi's market share by value was 20.1 percent. Over the period from the beginning of the year to mid-September, Olvi's market share by value was 18.1 percent. Olvi plc's total market share in its main product groups at the end of September was 19.0 (17.0) percent. The parent company's net sales from January to September 2007 amounted to 71.0 (60.9) million euro, representing an increase of 10.1 million euro or 16.5 percent. Olvi plc's operating profit in January-September totalled 7.4 (6.6) million euro or 10.5 (10.9) percent of net sales. The operating profit improved by 0.8 million euro or 12.4 percent. Scrapping of the obsolete package inventory resulted in 1.3 (1.1) million euro of write-downs on inventories that burdened the January- September earnings. AS A. Le Coq The total sales of Olvi plc's Estonian subsidiary AS A. Le Coq in January-September amounted to 106 (99) million litres, an increase of 7 million litres or 7.4 percent on the previous year. In terms of litres sold, the greatest increase was seen in beers, while proportional growth was greatest in energy drinks and long drinks. Sales growth was also considerable in juices. For the entire year, AS A. Le Coq's net sales growth has clearly outperformed the growth in sales volume. Net sales from January to September amounted to 56.7 (47.5) million euro, representing an increase of 9.2 million euro or 19.5 percent. AS A. Le Coq's operating profit in January-September was 8.8 (8.1) million euro or 15.5 (17.0) percent of net sales. The operating profit increased by 0.7 million euro or 8.5 percent compared to the previous year. AS A. Le Coq was ranked the best food industry company in Estonia for the third time in a row. The annual Competitive List of the Best Performances of the Estonian Enterprises competition is arranged by the Estonian Chamber of Commerce and Industry, Enterprise Estonia and the Estonian Employers' Confederation. The 2007 competition included a total of 455 participants of which 15 were food industry companies. Winners are chosen on the basis of competitive ability and a comparison of facts such as sales development, profitability, staff costs, investments and balance sheet value. A/S Cesu Alus The total sales of Olvi plc's Latvian subsidiary A/S Cesu Alus in January-September amounted to 42 (33.0) million litres, increasing by 9 million litres or 28.0 percent. The greatest growth in sales volume was seen in beers that represent approximately 70 percent of total sales. In the primary product group, beers, A/S Cesu Alus's market position has strengthened to more than 25 percent, and the brewery is now clearly the number two player in the market. The sales of ciders, energy drinks, long drinks and waters are also growing strongly. The company's net sales from January to September amounted to 20.7 (14.1) million euro, representing an increase of 6.6 million euro or 46.9 percent. Thanks to the growth, A/S Cesu Alus's profitability has improved substantially. Operating profit in January-September totalled 2.1 (0.9) million euro, an increase of 1.2 million euro. Operating profit in proportion to net sales was 10.3 (6.5) percent. AB Ragutis The total sales of the Lithuanian company AB Ragutis from January to September amounted to 34 (33) million litres, representing an increase of 1 million litres or 3.4 percent. The sales of Ragutis ciders and long drinks are rapidly increasing in Lithuania. The sales of beer declined slightly as the company scaled down its Private Label production. The net sales of AB Ragutis have clearly outperformed the increase in sales volumes in 2007. The company's net sales from January to September amounted to 17.3 (13.8) million euro, representing an increase of 3.5 million euro or 25.4 percent. The net sales improvement is affected by the favourable development of sales volumes and prices of other product groups that are now supplementing beer. The operating profit of AB Ragutis has improved thanks to previous major investments and the good development of sales volumes. Net sales from January to September amounted to 1.6 (1.1) million euro, representing an increase of 0.5 million euro or 47.9 percent. Operating profit in proportion to net sales was 9.3 (7.9) percent. SALES VOLUME, NET SALES AND EARNINGS IN THE THIRD QUARTER OF 2007 Olvi Group's Q3 sales volume Olvi Group's sales from July to September 2007 totalled 91 (88) million litres, an increase of 3 million litres or 3.8 percent. The growth of sales volumes was affected by this summer's damp and cool weather in comparison to last year's summer months both in Finland and in the Baltic states. The parent company Olvi plc's third-quarter sales amounted to 35 (32) million litres, which is 3 million litres or 10.5 percent more than a year earlier. Sales in the Baltic states improved by a total of 2 million litres or 3.8 percent. The Estonian subsidiary AS A. Le Coq's third- quarter sales were on a par with the previous year at 37 (37) million litres. In Latvia, A/S Cesu Alus made the Group's best sales result by selling 16 (13) million litres in July-September, which is 3 million litres or 19.1 percent more than last year. The sales of AB Ragutis in Lithuania declined by 4.2 percent on the previous year. Olvi Group's Q3 net sales The Group's net sales from July to September amounted to 56.5 (50.3) million euro, representing an increase of 6.2 million euro or 12.3 percent. In Finland, the parent company Olvi plc's net sales were up 11.4 percent at 25.5 (22.9) million euro. In the Baltic countries, third-quarter net sales improved by 15.8 percent on the previous year, which clearly outperformed the growth in sales volume. AS A. Le Coq's net sales amounted to 20.4 (18.4) million euro, an increase of 10.7 percent. Thanks to good sales development, A/S Cesu Alus's net sales improved by 36.5 percent on the previous year to 7.9 (5.8) million euro. AB Ragutis's net sales amounted to 6.1 (5.5) million euro, representing an increase of 0.6 million euro or 11.1 percent in spite of declined sales volume. Olvi Group's Q3 operating profit The Group's operating profit in the third quarter was on a par with the previous year at 8.5 (8.7) million euro or 15.1 (17.4) percent of net sales. Olvi Group was able to maintain the excellent earnings level of the previous year in spite of unfavourable weather conditions in high summer that contributed to the decline in total consumption. The third-quarter operating profit includes 0.4 million euro of additional costs for Olvi Group's stock-based incentive scheme compared to the previous year due to the good price development of the Olvi A share. The parent company Olvi plc's operating profit in July-September was on a par with the previous year at 3.2 (3.6) million euro or 12.6 (15.6) percent of net sales. In the third quarter of 2007, investment in items such as advertising was clearly greater than in the previous year. The aggregate third-quarter operating profit of the Baltic companies was on a par with the previous year at 5.3 (5.1) million euro. AS A. Le Coq's operating profit also reached the previous year's level at 3.7 (3.6) million euro or 18.3 (19.6) percent of net sales. The entire Group's best improvement was seen in A/S Cesu Alus with an operating profit of 1.2 (0.6) million euro. The increase was 0.6 million euro or 90.8 percent compared to the previous year. AB Ragutis's operating profit fell short of the previous year's level by 0.5 million euro. FINANCING AND INVESTMENTS Olvi Group's balance sheet total at the end of September 2007 was 174.0 (153.1) million euro. Equity per share in January-September stood at 8.35 (7.36) euro. The equity to total assets ratio was approximately at the previous year's level at 49.7 (50.0) percent. The amount of interest-bearing liabilities was 41.5 (39.1) million euro, including current liabilities of 9.7 (3.4) million euro. During the period under review, Olvi Group's gross capital expenditure amounted to 14.8 (15.3) million euro. The parent company Olvi plc accounted for 4.8 million euro and the subsidiaries in the Baltic states for 10.0 million euro of the total. The largest investments in 2007 will be the filling and packaging lines for recyclable plastic bottles to be constructed at Olvi plc and A. Le Coq, as well as extensions to storage facilities at A/S Cesu Alus and AB Ragutis. The gross capital expenditure also includes purchases made on finance lease. PRODUCT DEVELOPMENT Research and development includes projects to design and develop new products, packages, processes and production methods, as well as further development of existing products and packages. The R&D costs have been recognised as expenses. The parent company Olvi plc launched several new products for the September product range period. Olvi Suomi 90 vuotta Juhlaolut in 0.5 L cans was launched to celebrate Finland's 90th anniversary. The product layout makes it suitable for all kinds of festive occasions. OLVI Ykkönen, which is the market leader in mild beers with an approximate market share of 65 percent, was launched in 0.5 L cans. OLVI Ykkönen is the first mild beer sold in cans in Finland. In mineral waters, Olvi KevytOlo Vihreä Omena (Green Apple) flavoured with real apples was introduced in single portions as well as family packages. Olvi TEHO, the number three energy drink sold in Finland, was also launched as the light version TEHO Kevyt. In soft drinks, successful licence manufacturing continued with The Simpsons Orange Light. Olvi had introduced a Disney Donald Duck soft drink earlier this year. In Estonia, product introductions included a new cider, Fizz Cherry taste, and a new energy drink packaging, a 0.5 L bottle for the Dynami:t brand that was successfully launched a year ago. The market leader in juices, the Aura brand, expanded to soft drinks with the Aura Jaffa Orange and Aura Jaffa Grapefruit products. The Aura range of juices was also expanded by the Aura Tropical sub-brand. Three new flavours, mango-lemon, apricot and multi-fruit, were introduced under the sub-brand. In Latvia, three new beers were introduced in July: Cesu Light and Cesu Dry introduced in a special bottle; the Sataseles beer was launched to celebrate the 800th anniversary of the city of Segulda. Latvia was also active in other product groups. The new FIZZ Diamond cider was introduced. The energy drink Dynami:t expanded to 0.5 L plastic bottles like in Estonia. This is an example of Group synergy as the same product can be sold in several countries. In Latvia, the Group also jumped on the retro trend with the Zvanins soft drink carrying the slogan “a soft drink from your childhood”. The Aura brand is also shared across the Group. Two ice teas, Aura Tea of white and red tea, were introduced in Latvia. The Dynami:t energy drink was introduced in 0.5 L bottles also in Lithuania. One of Ragutis's two main brands of beer is Horn. The Horn dry version was launched in a clear half-litre glass bottle. It is an image-building product. In Lithuania, the Group also introduced two new products to the successful long drinks product group in half-litre cans under the Jamaica brand. Olvi Group has made systematic efforts to unify operating models across the Group and intensify co-operation, with the third-quarter product launches serving as a good example. PERSONNEL Thanks to good sales development, the number of personnel increased in all Group companies in January-September. Olvi Group's average number of personnel in January-September was 1,219 (1,127), 387 (346) of them in Finland, 417 (395) in Estonia, 211 (195) in Latvia and 204 (191) in Lithuania. The average number of personnel increased by 100 people or 9.0 percent on the previous year. The total number of personnel at the end of September was 1,184 (1,107). GROUP STRUCTURE The merger process between AS A. Le Coq Group, a holding company fully owned by Olvi plc, and its 100% subsidiary AS A. Le Coq, is still underway. According to present estimates, the merger will be completed in October-November 2007. The arrangements will have no effect on Olvi Group's earnings or balance sheet. At the end of September, Olvi Group's holding in AS A. Le Coq is 100 percent, in A/S Cesu Alus 97.89 percent and in AB Ragutis 99.56 percent. NEAR-TERM RISKS AND UNCERTAINTIES The introduction of recyclable plastic deposit bottles into the Finnish market will bring great changes to the production and logistics processes of breweries. The majority of soft drink, mineral water and cider consumption can be expected to change over to recyclable plastic deposit bottles. However, it is difficult to predict the rate of change. The present refillable bottle stock will probably be completely phased out step by step before the year 2010. This will result in increased scrapping of inventories within the next few years. Furthermore, personnel and raw material costs will increase substantially, which together with price hikes on electricity and fuels will create pressure to increase the prices of beverages. It is still challenging to recruit skilled personnel in the Baltic states. Due to this, personnel costs will increase faster than other production costs. NEAR-TERM OUTLOOK Olvi Group aims to strengthen its market position in all business areas. Substantial investments will ensure the sufficiency of capacity supporting our growth and cost-efficient production of a versatile product range. Further improvement of the entire Olvi Group's profitability and competitive ability is a crucial target. Olvi Group's performance in the rest of the year will be better than in the corresponding period last year. This is attributable to facts such as a strengthened overall market position in Finland as well as the Baltic states. We expect Olvi Group's full-year net sales to increase and operating profit to improve clearly on the previous year. The interim report from 1 January to 30 September 2007 has been prepared in accordance with IFRS recognition and valuation principles. The interim report has not been prepared in compliance with all of the requirements in the standard IAS 34, Interim Financial Reporting. The accounting policies used for the preparation of this interim report are the same as those used for the annual financial statements 2006. The information in this interim report is unaudited. Further information: Lasse Aho, Managing Director Phone +358 17 838 5200 or +358 400 203 600 OLVI PLC Board of Directors APPENDICES - Balance sheet, Appendix 1 - Income statement, Appendix 2 - Changes in shareholders' equity, Appendix 3 - Cash flow statement, Appendix 4 - Notes to the interim report, Appendix 5 DISTRIBUTION OMX Nordic Exchange, Helsinki Key media www.olvi.fi OLVI GROUP APPENDIX 1 BALANCE SHEET EUR 1,000 30 Sep 30 Sep 31 Dec 2007 2006 2006 ASSETS Non-current assets Tangible assets 89,468 81,228 83,473 Goodwill 10,675 10,531 10,675 Other intangible assets 1,228 1,852 1,640 Financial assets available for 284 254 254 sale Other non-current assets available 326 311 311 for sale Loans receivable 44 44 44 Deferred tax receivables 143 49 65 Total non-current assets 102,168 94,269 96,462 Current assets Inventories 30,613 25,574 25,173 Accounts receivable and other 36,438 30,651 32,256 receivables Liquid assets 4,826 2,580 2,102 Total current assets 71,877 58,805 59,531 TOTAL ASSETS 174,045 153,074 155,993 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity held by parent company shareholders Share capital 20,759 20,759 20,759 Other reserves 1,092 1,127 1,128 Treasury shares -722 -54 -290 Retained earnings 48,926 40,856 40,847 Net profit for the period 16,340 13,656 14,822 86,394 76,344 77,266 Minority interest 137 157 101 Total shareholders' equity 86,531 76,501 77,367 Non-current liabilities Interest-bearing liabilities 31,827 35,779 27,108 Interest-free liabilities 1,195 459 490 Deferred tax liabilities 1,186 1,427 1,413 Current liabilities Interest-bearing liabilities 9,711 3,361 11,562 Interest-free liabilities 43,595 35,547 38,053 Total liabilities 87,514 76,573 78,626 TOTAL SHAREHOLDERS' EQUITY AND 174,045 153,074 155,993 LIABILITIES OLVI GROUP APPENDIX 2 INCOME STATEMENT EUR 1,000 7-9/ 7-9/ 1-9/ 1-9/ 1-12/ 2007 2006 2007 2006 2006 Net sales 56,511 50,303 156,738 130,595 170,319 Other operating income 299 28 716 381 590 Operating expenses -45,334 -38,891 -128,751 -106,115 -141,577 Depreciation and -2,959 -2,706 -8,767 -8,130 -10,851 impairment Operating profit 8,517 8,734 19,936 16,731 18,481 Financial income 67 59 142 142 188 Financial expenses -554 -401 -1,456 -1,069 -1,432 Earnings before tax 8,030 8,392 18,622 15,804 17,237 Taxes *) -936 -1,063 -2,245 -2,136 -2,413 Net profit for the 7,094 7,329 16,377 13,668 14,824 period Distribution: - parent company 7,072 7,312 16,340 13,656 14,822 shareholders - minority 22 17 37 12 2 Ratios calculated from the profit belonging to parent company shareholders: - earnings per share,euro 1.58 1.32 1.43 - earnings per share adjusted for dilution from warrants, euro 1.58 1.31 1.42 *) Taxes are recognised as the share of the entire financial year's estimated taxes proportionate to the profit for the review period. OLVI GROUP APPENDIX 3 CHANGES IN OLVI GROUP'S SHAREHOLDERS' EQUITY, EUR 1,000 A B C D E F G H I Shareholders' equity 10379 11236 127 0 143 0 45377 67262 1 Jan 2006 Bonus issue 10379 -10379 0 Effect of increases in -145 145 0 the share capital of subsidiaries on minority interest Acquisition of treasury -54 -54 shares Change in translation 36 36 difference Payment of dividends -4411 -4411 Net profit for the 13668 13668 period Share of profit -12 12 0 belonging to the minority Shareholders' equity 20759 857 127 -54 143 36 54476 157 76501 30 Sep 2006 EUR 1,000 A B C D E F G H I Shareholders' equity 20759 857 127 -290 143 -18 55688 101 77367 1 Jan 2007 Transfer of reserve to -35 35 0 retained earnings Acquisition of treasury -432 -432 shares Change in translation -44 -1 -45 difference Payment of dividends -6736 -6736 Net profit for the 16377 16377 period Share of profit -37 37 0 belonging to the minority Shareholders' equity 30 Sep 2007 20759 857 127 -722 108 -62 65327 137 86531 A = Share capital B = Share premium account C = Legal reserve D = Treasury shares reserve E = Other reserves F = Translation differences G = Retained earnings H = Minority interest I = Total OLVI GROUP APPENDIX 4 CASH FLOW STATEMENT EUR 1,000 1-9/ 1-9/ 1-12/ 2007 2006 2006 Net profit for the period 16,377 13,668 14,824 Adjustments to profit for 12,879 11,689 14,852 the period Change in net working -4,666 -4,911 -3,320 capital Interest paid -1,063 -991 -1,529 Interest received 54 141 188 Taxes paid -2,342 -1,051 -1,080 Cash flow from operations 21,239 18,545 23,935 (A) Capital expenditure -14,395 -17,166 -22,064 Disposals of fixed assets 50 0 145 Cash flow from investments -14,345 -17,166 -21,919 B) Increase of share capital 0 0 0 Withdrawals of loans 12,000 9,750 7,000 Repayments of loans -9,013 -10,521 -8,650 Acquisition of treasury -432 -54 -290 shares Dividends paid -6,725 -4,411 -4,411 Cash flow from financing -4,170 -5,236 -6,351 (C) Increase (+)/decrease (-) 2,724 -3,857 -4,335 in liquid assets (A+B+C) Liquid assets 1 January 2,102 6,437 6,437 Liquid assets 30 Sep/31 Dec 4,826 2,580 2,102 Change in liquid assets 2,724 -3,857 -4,335 OLVI GROUP APPENDIX 5 NOTES TO THE INTERIM REPORT The accounting policies used for the preparation of this interim report are the same as those used for the annual financial statements 2006. The Group has adopted the IFRS 7 Financial Instruments: Disclosures standard and the associated amendment to the IAS 1 Presentation of Financial Statements - Capital Disclosures standard that entered into force on 1 January 2007. According to the Group's estimate, the adoption of the new and amended standard will mostly affect the notes to the Group's financial statements. 1. SEGMENT INFORMATION SALES BY GEOGRAPHICAL SEGMENT (1,000 litres) 7-9/ 7-9/ 1-9/ 1-9/ 1-12/ 2007 2006 2007 2006 2006 Olvi Group total 91,370 87,987 259,820 233,420 303,416 Finland 35,550 32,167 100,442 84,928 110,092 Estonia 37,239 36,855 106,217 98,931 127,817 Latvia 15,689 13,178 42,244 33,012 42,736 Lithuania 11,918 12,436 33,627 32,522 42,249 - sales between -9,026 -6,649 -22,710 -15,973 -19,478 segments NET SALES BY GEOGRAPHICAL SEGMENT (EUR 1,000) 7-9/ 7-9/ 1-9/ 1-9/ 1-12/ 2007 2006 2007 2006 2006 Olvi Group total 56,511 50,303 156,738 130,599 170,319 Finland 25,497 22,891 70,967 60,895 79,458 Estonia 20,359 18,385 56,732 47,488 61,517 Latvia 7,937 5,815 20,759 14,130 18,573 Lithuania 6,156 5,539 17,271 13,772 18,224 - sales between -3,438 -2,327 -8,991 -5,690 -7,453 segments OPERATING PROFIT BY GEOGRAPHICAL SEGMENT (EUR 1,000) 7-9/ 7-9/ 1-9/ 1-9/ 1-12/ 2007 2006 2007 2006 2006 Olvi Group total 8,517 8,735 19,936 16,731 18,481 Finland 3,222 3,570 7,434 6,616 7,060 Estonia 3,728 3,609 8,783 8,092 9,268 Latvia 1,168 612 2,143 919 845 Lithuania 396 895 1,602 1,083 1,239 - sales between segments 3 49 -26 21 69 2. PERSONNEL ON AVERAGE 1-9/2007 1-9/2006 1-12/2006 Finland 387 346 346 Estonia 417 395 393 Latvia 211 195 195 Lithuania 204 191 192 Total 1,219 1,127 1,126 3. RELATED PARTY TRANSACTIONS Employee benefits to management Salaries and other short-term employee benefits to the Board of Directors and Managing Director 1-9/ 1-9/ 1-12/ 2007 2006 2006 Managing Directors 462 370 488 Chairman of the Board 153 131 181 Other members of the 78 62 91 Board Total 693 563 760 *) *) The figures for 2006 have been adjusted to be comparable with the information in the interim report. Share-based payments: Olvi plc's Board of Directors decided in 2006 on a share-based incentive and commitment scheme for Olvi Group's key personnel. The share-based incentive scheme is described in more detail in Olvi Group's financial statements for 2006, note 22. 4. SHARES AND SHARE CAPITAL 30 Sep 2007 Number of A shares 8,513,276 Number of K shares 1,866,128 Total 10,379,404 4 Total votes carried by A shares 8,513,276 Total votes carried by K shares 37,322,560 Total number of votes 45,835,836 Registered share capital, EUR 1,000 20,759 The Series A and Series K shares received a dividend of 0.65 euro per share for 2006(0.425 euro per share for 2005), totalling 6.7 (4.4) million euro. The dividends were paid on 16 April 2007. Nominal value of A and K shares, EUR 2.00 Votes per Series A share 1 Votes per Series K share 20 The shares entitle to equal dividend. The Articles of Association include a redemption clause concerning Series K shares. 5. TREASURY SHARES In April 2007, the General Meeting of Shareholders of Olvi plc decided to authorise the Board of Directors to decide on the acquisition of the company's own shares using distributable funds. The authorisation is valid for one year starting from the General Meeting and covers a maximum of 245,000 Series A shares. The Board of Directors may also decide that any shares acquired on the company's own account be cancelled by reducing the share capital. On 16 August 2007, on the basis of the authorisation granted by the General Meeting on 3 April 2007, the Board of Directors of Olvi plc decided to acquire a maximum total of 16,000 of the company's own Series A shares. In compliance with the rules of the Helsinki Stock Exchange and guidelines concerning treasury shares of a listed company, the shares were acquired through public trading on the Helsinki Stock Exchange at the current market price at the time of acquisition. The acquisition was carried out between 27 August and 18 September 2007. 16,000 shares were bought at an average price of 26.96 euro per share. The total purchase price was 431,832.63 euro. Olvi plc already possessed 16,000 Olvi Series A shares acquired by the Board of Directors in 2006 on the basis of an authorisation granted by the General Meeting of Shareholders. The purchase price for treasury shares in 2006 totalled 290,399.76 euro. The Board of Directors has not exercised the authorisation granted by the General Meeting to transfer the company's own Series A shares during January- September 2007. All of the treasury shares acquired, a total of 32,000 shares, are in the company's possession. Series A shares held by Olvi plc as treasury shares represent 0.31 percent of the share capital and 0.07 percent of the aggregate number of votes. The acquired shares represent 0.38 percent of all Series A shares and associated votes. 6. NUMBER OF SHARES *) 1-9/2007 1-9/2006 1-12/2006 - average 10,361,967 10,377,707 10,363,311 - at end of period 10,347,404 10,375,404 10,363,404 - average number of shares adjusted for dilution from warrants 10,361,967 10,426,826 10,413,050 *) Acquired treasury shares deducted. 7. TRADING OF SERIES A SHARES ON THE HELSINKI STOCK EXCHANGE IN JANUARY-SEPTEMBER 2007 Number of Olvi A shares traded in 01- 1,722,88 09/2007 4 Total trading volume, EUR 1,000 41,323 Traded shares in proportion to all Series 20.2 A shares, % Average share price 01-09/2007, EUR 23.86 Highest quote in June, EUR 30.80 Lowest quote in January, EUR 19.50 8.SHAREHOLDERS Book entries Votes Shareholders qty % qty % qty Finnish total 8,305,282 80.02 42,789,978 93.35 5,6565 Foreign total 316,613 3.05 1,288,349 2.81 25 Nominee-registered 1,270 0.01 1,270 0.00 2 (foreign) total Nominee-registered 1,756,239 16.92 1,756,239 3.83 8 (Finnish) total Total 10,379,404 100.00 45,835,836 100.00 5,691 9. LARGEST SHAREHOLDERS Series K Series A Total % Votes % 1. Olvi 1,181,952 354,408 1,536,360 14.80 23,993,448 52.3 Foundation 2. Hortling 450,712 85,380 536,092 5.16 9,099,620 19.8 Heikki Wilhelm*) 3. The Heirs of 93,552 12,624 106,176 1.02 1,883,664 4.11 Hortling Kalle Einari 4. Hortling 82,912 17,304 100,216 0.97 1,675,544 3.66 Timo Einari 5. Hortling- 51,144 1,050 52,194 0.50 1,023,930 2.23 Rinne Marit 6. 986,534 986,534 9.50 986,534 2.15 Skandinaviska Enskilda Banken nominee register 7. Nordea Bank 644,930 644,930 6.21 644,930 1.41 Finland plc, nominee register 8. Ilmarinen Mutual 515,748 15,748 4.97 515,748 1.13 Pension Insurance Company 9. Autocarrera 221,891 221,891 2.14 221,891 0.48 Oy Ab 10.Pensionsförsäkringsaktieb olaget Veritas Pension 208,000 208,000 2.00 208,000 0.45 Insurance Company Others 5,856 5,465,407 5,471,263 52.71 5,582,527 12.18 Total 1,866,128 8,513,276 10,379,404 100.0 45,835,836 100.00 *) The figures include the shareholder's own holdings and shares held by parties in his control. 10. PROPERTY, PLANT AND EQUIPMENT EUR 1,000 1-9/ 1-9/ 1-12/ 2007 2006 2006 Increase 14,457 15,185 21,878 Decrease -187 -1,357 -3,535 Total 14,270 13,828 18,343 11. CONTINGENT LIABILITIES 30 Sep 30 Sep 31 Dec 2007 2006 2006 Pledges and contingent liabilities For own commitments 1,135 1,135 765 For others 731 1,035 1,055 Leasing liabilities: Due within one year 667 1,009 1,041 Due within 1 to 5 years 1,132 1,005 1,019 Due in more than 5 5 0 5 years Total leasing liabilities 1,804 2,014 2,065 Package liabilities 4,879 4,880 4,734 Other liabilities 1,980 1,980 1,980 Debts for which mortgages have been given as collateral Loans from financial institutions For own commitments 773 3,091 2,318 For others 229 2,062 1,527 12. CALCULATION OF FINANCIAL RATIOS Equity to total Shareholder´s equity held by parent company assets, % = 100 * shareholders + minority interest __________________________________________ Balance sheet total - advance payments received Profit belonging to parent company shareholders Earnings per share = ______________________________________________ Average number of shares during the period, adjusted for share issues Shareholders' equity held by parent company shareholders Equity per share = _____________________________________________ Number of shares at end of period, adjusted for share issues Interest-bearing debt - cash in hand and at bank Gearing, % = ________________________________________________ Shareholders' equity held by parent company shareholders + minority interest