HKSCAN GROUP INTERIM REPORT 1 JANUARY - 31 MARCH 2010                           


HKSCAN'S SUCCESS ABROAD COMPENSATES FOR CHALLENGES IN FINNISH MARKET            

* The HKScan Group maintained or improved its standing in all market areas in   
spite of the challenging market conditions in the early part of the year.       

* Despite stronger performance in the market segments of Sweden, the Baltics and
Poland, the profitability of the HKScan Group's business in Q1 did not reach the
level seen in 2009. EBIT came in at EUR 5.5 million (EUR 8.2m).                 

* Group net sales were EUR 483.6 million (EUR 492.1m). The key factors          
underlying the fall in net sales were the lower pork volumes in the Group's     
export markets and the sales prices of poultry meat in Finland.                 

* Progress as envisaged was made on the Group's business development projects.  

* Earnings development at the end of the first quarter bears out the view held  
by management that the difficult market conditions seen in the early part of the
year, especially in Finland, will improve in the important summer season and    
bolster profitability development.                                              

* The company estimates that full-year EBIT exclusive of non-recurring items    
will not quite reach the level seen in 2009.                                    



HKSCAN GROUP                                                                    
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                   |     Q1/2010 |     Q1/2009 |         2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                         |       483.6 |       492.1 |      2 124.7 |
--------------------------------------------------------------------------------
| EBIT                              |         5.5 |         8.2 |         55.1 |
--------------------------------------------------------------------------------
| - EBIT margin, %                  |         1.1 |         1.7 |          2.6 |
--------------------------------------------------------------------------------
| Profit/loss before taxes          |         3.9 |         1.7 |         37.3 |
--------------------------------------------------------------------------------
| Earnings per share, EUR           |        0.06 |        0.00 |         0.64 |
--------------------------------------------------------------------------------

Per-share data has been adjusted for the share offering in 2009.                


Q1, JANUARY-MARCH 2010                                                          

- The Group's net sales in the first quarter of the year were EUR 483.6 million 
(EUR 492.1m), i.e. 1.7 percent lower than in the comparison period in 2009.     

- EBIT came in at EUR 5.5 million (EUR 8.2m). In Finland, EBIT for the quarter  
was EUR -0.6 million (EUR 6.2m in 2009) whereas EBIT improved from the previous 
year in Sweden, the Baltics and Poland.                                         

- Exceptionally sharp fluctuations were seen in volume and profitability        
development in customer and product groups in the Group's various market areas. 


CEO MATTI PERKONOJA:                                                            

“The HKScan Group has maintained its strong position in the market and grown its
pre-tax earnings in the first few months of the year.                           
It proved clearly more of a challenge than anticipated to project the           
first-quarter development of business and its profitability, especially in      
Finland. Although business in Sweden, the Baltics and Poland performed strongly,
the HKScan Group as a whole failed to deliver the level of EBIT seen in Q1 of   
2009.                                                                           

The lacklustre profitability development achieved will speed up the launch of   
development projects in the Group's business chain in Finland. The amended EU   
marketing standard for poultry meat that took effect in early May will in the   
long run strengthen the market standing of locally produced fresh poultry meat. 
The new standard is of especially great significance to the HKScan Group, as it 
is the market leader in fresh poultry meat in both Finland, under the Kariniemen
brand, and in the Baltics, under the Tallegg brand.                             

Maintaining HK Ruokatalo's position in the market in Finland has proved a       
particular challenge in the early part of the year.                             
In Sweden, the business restructuring and streamlining programme at Scan has    
progressed in line with plans and on schedule.                                  
In the Baltics, Rakvere Lihakombinaat and Tallegg were able to further enhance  
their profitability in a tight business environment.                            
In Poland, Sokolów grew stronger in both its domestic market and exports and    
clearly boosted its earnings.                                                   

The fundamental objective for the HKScan Group is to grow its profitability.    
Several development projects have been launched in the Group towards this end,  
one example being the introduction of responsibility schemes across the entire  
chain of operations, from primary production through to finished products. The  
areas of emphasis in the responsibility schemes in 2010 have been designated as 
nutrition, the environment, and the wellbeing of production animals.            

The greatest challenge in respect of locally produced foods is adequate         
profitability. The maintenance and sustained enhancement of the entire          
production chain's competitiveness provide the foundation for continued local   
production. Profitable business is developed in the chain on the terms of       
customers and consumers alike.”                                                 


MARKET AREA: FINLAND                                                            
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                 |      Q1/2010 |      Q1/2009 |         2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                       |        167.8 |        175.3 |        732.5 |
--------------------------------------------------------------------------------
| EBIT                            |         -0.6 |          6.2 |         27.0 |
--------------------------------------------------------------------------------
| - EBIT margin, %                |         -0.4 |          3.6 |          3.7 |
--------------------------------------------------------------------------------

The price competition caused by defending market position brought EBIT in       
Finland into the red by EUR -0.6 million (EUR 6.2m in 2009). The comparison     
figure for the previous year includes non-recurring expenses of EUR 1.1 million.

The most severe market disruption was seen in respect of poultry meat, where    
stepped-up price competition in anticipation of the amended EU marketing        
standard for poultry meat that took effect in May 2010 temporarily depressed the
profitability of the poultry business. In Finland, the destocking to the        
consumer market of frozen poultry meat inventories accumulating up to the end of
the year gave rise to exceptional price competition. The situation also cut into
the volumes of fresh poultry meat.                                              

The lacklustre profitability development achieved will speed up the launch of   
development projects in the Group's business chain in Finland. The plans        
announced in April seeking to bolster business profitability extend across the  
entire chain of operations and are envisaged to deliver annual earnings         
improvements of EUR 12 million.                                                 

Preliminary plans have HK Ruokatalo centralizing its production activities and  
markedly scaling back production outsourced to subcontractors. The plans are    
intended to concern all of HK Ruokatalo's production plants as well as all its  
employees and subcontractors in Finland. Tentative plans have implementation of 
the programmes translating into a reduction of roughly 200 person-years in HK   
Ruokatalo's business chain. The appropriate negotiations with the employees of  
companies in the business segment of Finland will be started once the specifics 
of the plans have been worked out.                                              

As a part of its responsibility scheme, HK Ruokatalo announced early in the year
that it would launch on the market in 2011 a new, tastier and more healthful    
pork meat in which the fat content has been naturally modified to conform to    
nutrition recommendations. The innovation is accomplished with a new pig-feeding
concept where the quality and administration method of vegetable oil play a key 
role. In the new Rapeseed Pork, the share of saturated fat has been reduced to  
less than one third of total fat as required under nutrition recommendations. At
the same time, the amount of essential omega 3 fatty acids, obtained through    
diet, has been increased by a factor of 3.5 in Rapeseed Pork.                   

The industrial action which started in April in the food industry is projected  
to have a clear depressive impact on sales and earnings in the business segment 
of Finland.                                                                     


MARKET AREA: SWEDEN                                                             
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                 |      Q1/2010 |      Q1/2009 |         2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                       |        230.5 |        238.4 |      1 037.4 |
--------------------------------------------------------------------------------
| EBIT                            |          2.7 |          2.1 |         16.7 |
--------------------------------------------------------------------------------
| - EBIT margin, %                |          1.2 |          0.9 |          1.6 |
--------------------------------------------------------------------------------

Net sales in Sweden declined to EUR 230.5 million (EUR 238.4 m in 2009). Net    
sales measured in euro fell by 4 percent and in crowns by 12 percent. The       
decline was due to a planned reduction in exports.                              

EBIT, on the other hand, increased to EUR 2.7 million (EUR 2.1m in 2009). The   
comparison figure for the previous year includes non-recurring expenses of EUR  
1.2 million.                                                                    

Sales were especially good in March and the company performed ahead of targets  
in respect of e.g. sandwich meats sold under the Pärsons brand.                 

The industrial restructuring launched in September 2009 at Scan is proceeding on
schedule and according to plans. The first quarter of the year has seen beef    
slaughter centralized to Linköping and pork cutting to Kristianstad as well as  
hamburger patty production transferred from Linköping to Skara. The new         
logistics centre rising in Linköping has moreover progressed to the trial       
operation phase and will come online in full in autumn 2010.                    

The measures are envisioned to deliver annual streamlining benefits of EUR 30   
million by the end of 2012.                                                     

The restructuring continues to give rise to some additional production          
expenditure.                                                                    

Scan's investment in the production and marketing of consumer-packed meat       
resulted in the company concluding a cooperation agreement in March to supply   
Swedish central retail organization Coop with consumer-packed meat. This        
agreement, which is of national significance, enables a consumer-packed meat    
plant investment in Linköping creating roughly 60 jobs.                         



MARKET AREA: THE BALTICS                                                        
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                 |     Q1/2010 |      Q1/2009 |          2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                       |        35.8 |         37.3 |         156.9 |
--------------------------------------------------------------------------------
| EBIT                            |         1.1 |          1.0 |           9.8 |
--------------------------------------------------------------------------------
| - EBIT margin, %                |         3.0 |          2.7 |           6.3 |
--------------------------------------------------------------------------------

In the market area of the Baltics, AS Rakvere Lihakombinaat and AS Tallegg      
continued to enhance their profitability and solidify their position in the     
market despite the difficult state of the Baltic national economies, the decline
in consumption due to higher unemployment, and intensifying competition.        
Although net sales in the Baltics fell short of the previous year's level,      
adaptation of the product range and successful cost control nonetheless         
delivered higher EBIT.                                                          

The Rakvere Group's Latvia-based subsidiary AS Rigas Miesnieks announced in     
March that it had signed a letter of intent on acquiring a holding in excess of 
90 percent in the Latvian AS Jelgavas Galas Kombinats, a company specializing in
smoked meat products. The planned acquisition will strengthen the position of   
the HKScan Group as industry leader in Latvia.                                  
                                                                                

MARKET AREA: POLAND                                                             
(EUR million)                                                                   
--------------------------------------------------------------------------------
| *)                             |      Q1/2010 |      Q1/2009 |          2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales                      |         63.9 |         56.4 |         251.7 |
--------------------------------------------------------------------------------
| EBIT                           |         4.2  |          1.6 |           9.3 |
--------------------------------------------------------------------------------
| - EBIT margin, %               |          6.6 |          2.9 |           3.7 |
--------------------------------------------------------------------------------
*) The figures refer to HKScan's share (50%) of the Sokolów Group's figures.    

In Poland, Sokolów's Q1 net sales grew by 13 percent from the corresponding     
period in 2009 when measured in euro and by one percent when measured in zloty. 
The profitability of the business has improved markedly.                        

Successful Easter sales, robust progress in modern retail chains, accomplished  
cost control, good subsidiary performance and momentum in exports brought       
Sokolów's first-quarter earnings to EUR 4.2 million (EUR 1.6m in 2009), the best
first-quarter performance in the company's history.                             

The European economic recession is not markedly evident in food consumption or  
consumer buying decisions in Poland.                                            


CHANGES IN GROUP STRUCTURE                                                      

HKScan Corporation transitioned to a holding company structure in its Finnish   
business. The reorganization, which streamlines financial reporting and internal
supervision, was accomplished as a business transfer on 1 January 2010 by       
transferring HKScan Corporation's production-related property, plant and        
equipment in Finland as well as its holdings in subsidiaries and associates to  
HKScan Finland Oy, a holding company wholly owned by HKScan Corporation.        

The reorganization was technical and legal in nature and it has no effect on    
operational activities. HK Ruokatalo Oy and LSO Foods Oy, the companies         
responsible for the Group's Finnish business, carry on their activities as      
before. The arrangement had no effect on jobs or the standing of the parent     
company or its shareholders. Managing director Jari Leija of HK Ruokatalo Oy    
also serves as managing director of HKScan Finland Oy.                          

In a bid to secure demand for Finnish meat raw material, HK Ruokatalo Oy entered
into cooperation in the early part of the year with Kivikylän Kotipalvaamo Oy, a
family business based in western Finland. The cooperation is accomplished in the
form of a minority holding in the company, with the current operators continuing
to carry on the company's business proper.                                      
The company will be consolidated as a subsidiary based on control.              


CHANGES IN ORGANIZATION                                                         

In January 2010, the Board of Directors and HKScan Corporation CEO Matti        
Perkonoja agreed that he would stay on as CEO for longer than initially         
announced. The appointment is effective until the end of February 2012, at which
time Mr Perkonoja is to retire. He had earlier planned to retire after 2010.    

Effective 1 January 2010, Olli Antniemi, MSc (Econ & Bus Admin), was appointed  
senior vice president in charge of strategy and development. He also joined the 
Management Team. Mr Antniemi is responsible for strategic business planning with
an emphasis on Group synergies and management of the Group's strategy process.  
He previously served as executive vice president of the HKScan Group's Baltic   
Group, managing director of Scan AB and most recently as development director at
HK Ruokatalo Oy.                                                                

HKScan Corporation's Management Team as of 1 January 2010 consists of CEO Matti 
Perkonoja as Chairman along with CFO Irma Kiilunen, senior vice president for   
strategy and development Olli Antniemi, HKScan Finland Oy managing director Jari
Leija and Scan AB managing director Denis Mattsson. Management Team meetings are
also attended by managing directors Anne Mere of AS Rakvere Lihakombinaat and   
Teet Soorm of AS Tallegg. VP and Management Team member Tero Hemmilä left HKScan
at the beginning of 2010. CFO Irma Kiilunen serves as deputy to the CEO of      
HKScan Corporation.                                                             


CAPITAL EXPENDITURE AND FINANCE                                                 

Gross consolidated investments totalled EUR 18.9 million (EUR 12.7m) in Q1 of   
2010 and were divided among production-related investment in the market areas as
follows: Finland EUR 8.9 million (EUR 4.0m), Sweden EUR 6.0 million (EUR 4.2m)  
and the Baltics EUR 2.1 million (EUR 1.1m). In Poland, HKScan's share of Sokolów
investments was EUR 1.9 million (EUR 3.4m).                                     

The Group's interest-bearing debt at the end of March stood at EUR 435.0 million
(EUR 517.8m). The marked decline in debt from the corresponding period a year   
earlier is attributable to the EUR 78.0 million share offering executed in      
December 2009. The company allocated EUR 20 million of the proceeds of the      
offering to repaying its hybrid bond.                                           
The remaining proceeds of the offering were used to pay other interest-bearing  
debts.                                                                          

Since the turn of the year, the considerable strengthening of the Swedish crown 
and the Polish zloty along with an increased need for working capital have added
EUR 17.6 million to the company's interest-bearing debt.                        

Net financing expenses have fallen clearly from the previous year owing to lower
interest rates and the reduction in total loans. Financing expenses remain      
burdened by equity hedging costs in respect of EEK-denominated equity. Untapped 
credit facilities at 31 March 2010 stood at EUR 212.3 million (EUR 155.4m). In  
addition, the Group had other untapped overdraft and other facilities of EUR    
42.0 million (EUR 36.6m). The EUR 100 million commercial paper programme had    
been drawn in the amount of EUR 18.0 million (EUR 8.0m).                        

At the end of the period under review, the equity ratio was 37.2 percent        
(29.5%). A material contributor to the stronger equity ratio was the share      
offering executed in December 2009. The equity ratio at the turn of the year was
37.1 percent.                                                                   


TREASURY SHARES                                                                 

At 31 March 2010, HKScan held a total of 51 982 of its A Shares. These had a    
market value of EUR 0.52 million (EUR 9.93 each) and accounted for 0.10% of all 
shares and 0.03% of all votes. No dividend is paid on treasury shares.          


BOARD OF DIRECTORS' EXISTING AUTHORIZATIONS                                     

See "Events taking place after the end of the review period”.                   


EMPLOYEES                                                                       

In the first three months of the year, the Group had an average workforce of    
6 825 employees (6 968 in Q1/2009).                                             
The average number of employees in each market area was as follows:             
                                                                                
--------------------------------------------------------------------------------
|                         |                 Q1/2010 |                  Q1/2009 |
--------------------------------------------------------------------------------
| Finland                 |                   2 183 |                    2 218 |
--------------------------------------------------------------------------------
| Sweden                  |                   2 862 |                    2 954 |
--------------------------------------------------------------------------------
| Baltics                 |                   1 780 |                    1 796 |
--------------------------------------------------------------------------------
Sokolów employed an average of 5 586 (5 700) persons.                           

Analysis of employees by country at 31 March is as follows:                     
--------------------------------------------------------------------------------
|                               |            31.3.2010 |             31.3.2009 |
--------------------------------------------------------------------------------
| Sweden                        |                37.6% |                 39.2% |
--------------------------------------------------------------------------------
| Finland                       |                32.0% |                 31.9% |
--------------------------------------------------------------------------------
| Estonia                       |                23.0% |                 21.6% |
--------------------------------------------------------------------------------
| Poland (Scan)                 |                 3.2% |                  2.8% |
--------------------------------------------------------------------------------
| Latvia                        |                 2.6% |                  3.1% |
--------------------------------------------------------------------------------
| Other countries               |                 1.6% |                  1.4% |
--------------------------------------------------------------------------------


RISKS AND UNCERTAINTY FACTORS IN THE NEAR FUTURE                                

The most significant uncertainty factors faced by the HKScan Group involve      
developments in the price of raw materials, in future possibly their            
availability as well. Market area-specific uncertainty factors have to do       
especially with the success of the business development programmes in Finland   
and Sweden.                                                                     

The international economic situation is stabilizing. Ongoing major fluctuations 
in the Group's central currencies may affect the Group's net sales, earnings and
balance sheet. Any devaluation of local currencies in particular may have a     
negative effect on the Group's Baltic operations.                               

Changes in demand owing to the economic climate, for instance rising            
unemployment, may occur in the Group's market areas or its export markets. These
may erode Group net sales and earnings.                                         

The possibility of animal diseases can never be fully excluded in the food      
industry.                                                                       

Protracted collective bargaining negotiations in Finland will have an adverse   
effect on the development of sales and profitability.                           

The Group is currently involved in certain legal proceedings and civil          
litigation. The cases remain pending but are estimated to have no significant   
impact on the Group's financial standing.                                       


EVENTS TAKING PLACE AFTER THE END OF THE REVIEW PERIOD                          

(1) On 9 April 2010 the company announced that it was bringing forward          
development measures pertaining to the business chain in Finland. The aim is to 
strengthen HK Ruokatalo's position in Finland and to achieve annual earnings    
improvements of roughly EUR 12 million.                                         

Preliminary plans have HK Ruokatalo centralizing its production activities and  
scaling back production outsourced to subcontractors. The plans are intended to 
concern all of HK Ruokatalo's production plants as well as all its employees and
subcontractors in Finland. Tentative plans have implementation of the programmes
translating into a reduction of roughly 200 person-years in HK Ruokatalo's      
business chain. The appropriate negotiations with the employees of companies in 
the business segment of Finland will be started once the specifics of the plans 
have been worked out.                                                           

(2) The Annual General Meeting of Shareholders (AGM) held on 23 April 2010      
adopted the parent company's and consolidated financial statements and          
discharged the members of the Board of Directors and the CEO from liability for 
2009. It was decided to pay a dividend of EUR 0.22 per share, i.e. a total of   
EUR 11.9 million, as recommended by the Board of Directors.                     

The number of members of the Board of Directors was confirmed as six. Markku    
Aalto, Tiina Varho-Lankinen, Matti Karppinen and Matti Murto were re-elected,   
with Pasi Laine and Otto Ramel elected to the Board as new members. The Board   
re-elected Markku Aalto and Tiina Varho-Lankinen to serve as chairman and deputy
chairman, respectively.                                                         

(3) The AGM resolved to elect Authorized Public Accountants                     
PricewaterhouseCoopers Oy, with APA Johan Kronberg as principal auditor, and APA
Petri Palmroth to serve as auditors as well as APA Mika Kaarisalo and APA Pasi  
Pietarinen to serve as deputy auditors until the end of the next AGM.           

(4) The AGM authorized the Board to resolve on acquiring the company's Series A 
shares as follows:                                                              
The number of Series A shares to be acquired shall not exceed 3 500 000, equal  
to approximately 6.5% of all shares and roughly 7.2% of Series A shares in the  
company.                                                                        

Pursuant to the authorization, own shares may only be acquired using            
unrestricted shareholders' equity. The company's own shares may be purchased for
a price quoted in public trading on the purchase day or for a price otherwise   
determined by the market.                                                       

The Board of Directors shall resolve upon the method of purchase. Among other   
means, derivatives may be utilized in purchasing the shares. The shares may be  
purchased in a proportion other than that of the shares held by the shareholders
(directed purchase). The authorization is valid until 30 June 2011.             

This authorization cancels the authorization granted to the Board by the AGM of 
23 April 2009 to resolve on acquiring the company's own A Shares.               

(5) The Board of Directors was authorized to resolve on an issue of shares,     
option rights as well as other special rights entitling to shares as referred to
in Chapter 10:1 of the Limited Liability Companies Act as follows:              

This authorization concerns the issue of Series A shares. The Board was         
authorized to decide on the number of shares to be issued. However, no more than
5 500 000 Series A shares may be issued pursuant to this authorization. The     
maximum number under the authorization equals approximately 10.2% percent of    
total registered shares and approximately 11.3% percent of total Series A       
shares.                                                                         

The Board is authorized to resolve on all of the terms governing the share issue
and the issue of special rights entitling to shares. The authorization to issue 
shares shall cover the issuing of new shares as well as the transfer of the     
Company's treasury shares. The issue of shares and other special rights         
entitling to shares may be implemented as a directed issue. The authorization is
valid until 30 June 2011.                                                       

This authorization cancels the authorization granted to the Board by the AGM of 
23 April 2009 on resolving on an issue of shares, option rights as well as other
special rights entitling to shares.                                             

The authorizations concerning purchases of own shares and share issue were      
granted to provide the company's Board with flexibility in deciding on capital  
market transactions necessary to the company, e.g. to secure its financing needs
or to execute mergers and acquisitions. A directed acquisition of own shares or 
directed share issue can only be executed for reasons of weighty financial      
consequence to the company and the authorization cannot be exercised in         
violation of the principle of shareholder equality.                             

(6) HKScan Corporation issued on 29 April 2010 a stock exchange release         
concerning the insider trading investigation into LSO Osuuskunta's share        
trading. HKScan Corporation had learned that the pre-trial investigation and    
consideration of charges in this case had been completed. In respect of HKScan  
CEO Matti Perkonoja and one company official, the Helsinki district prosecutor  
had resolved not to bring charges.                                              

The Helsinki district prosecutor did decide that six persons who were part of   
LSO Osuuskunta's management in 2006 would be charged with aggravated abuse of   
insider information. Three of these persons are currently members of the Board  
of Directors of HKScan Corporation. The charge is based on the respective       
persons' positions at the time as representatives of LSO Osuuskunta and does not
relate to their roles in HKScan Corporation.                                    

HKScan will monitor the progress of the proceedings and revisit the issue at the
latest when the outcome of the case has been determined.                        


FUTURE OUTLOOK                                                                  

Consumer demand for food is still expected to remain steady in the Group's home 
markets and export markets are anticipated to pick up somewhat towards the end  
of the year. Business streamlining programmes, in particular the progress of the
restructuring programme in Sweden and the launch of the streamlining programme  
planned in Finland, provide the foundation for the more favourable development  
of the Group's competitiveness and profitability.                               

In the Group's Finnish business, the industrial action which started in April is
projected to have a clear depressive impact on the segment's sales and earnings.
It is also projected to result in the Group's profitability in the second       
quarter not reaching the level of the previous year.                            

With performance in the first half of the year falling markedly short of the    
same a year ago, the Group's full-year EBIT exclusive of non-recurring items is 
estimated to be at a level somewhat lower than in 2009.                         


*****                                                                           
PREVIOUS GUIDANCE                                                               
HKScan Corporation, financial statements bulletin of 19 February 2010:          
The Group's full-year EBIT exclusive of non-recurring items is estimated to     
surpass that in 2009 despite the considerable challenges posed by the markets in
the early part of the year.                                                     

******                                                                          



CONSOLIDATED FINANCIAL STATEMENTS 1 JANUARY - 31 MARCH 2010                     


CONSOLIDATED INCOME STATEMENT                                                   
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                  |     Q1/2010 |      Q1/2009 |         2009 |
--------------------------------------------------------------------------------
|                                  |             |              |              |
--------------------------------------------------------------------------------
| NET SALES                        |       483.6 |        492.1 |      2 124.7 |
--------------------------------------------------------------------------------
| Operating income and expenses    |      -464.1 |       -470.5 |     -2 013.3 |
--------------------------------------------------------------------------------
| Share of profit of associates    |         0.5 |          0.2 |          0.9 |
--------------------------------------------------------------------------------
| Depreciation and impairment      |       -14.6 |        -13.6 |        -57.2 |
--------------------------------------------------------------------------------
| EBIT                             |         5.5 |          8.2 |         55.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial income                 |         2.2 |          1.9 |          5.2 |
--------------------------------------------------------------------------------
| Financial expenses               |        -4.8 |         -8.7 |        -24.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Share of profit of associates    |         1.0 |          0.3 |          2.0 |
--------------------------------------------------------------------------------
| PROFIT/LOSS BEFORE TAXES         |         3.9 |          1.7 |         37.3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Income taxes                     |         0.1 |         -1.3 |         -4.9 |
--------------------------------------------------------------------------------
| PROFIT/LOSS FOR THE PERIOD       |         4.0 |          0.4 |         32.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PROFIT/LOSS FOR THE PERIOD       |             |              |              |
| ATTRIBUTABLE TO:                 |             |              |              |
--------------------------------------------------------------------------------
| Equity holders of the parent     |         3.4 |          0.1 |         29.9 |
--------------------------------------------------------------------------------
| Minority interests               |         0.6 |          0.3 |          2.6 |
--------------------------------------------------------------------------------
| Total                            |         4.0 |          0.4 |         32.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

Earnings per share calculated on profit attributable to equity holders of the   
parent:                                                                         
--------------------------------------------------------------------------------
| EPS, undiluted, continuing        |        0.06 |        0.00 |         0.64 |
| operations, EUR/share             |             |             |              |
--------------------------------------------------------------------------------
| EPS, diluted, continuing          |        0.06 |        0.00 |         0.64 |
| operations, EUR/share             |             |             |              |
--------------------------------------------------------------------------------

Per-share data has been adjusted for the share offering in 2009.                

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 1 JANUARY - 31 MARCH             
(EUR million)                                                                   

--------------------------------------------------------------------------------
|                                   |     Q1/2010 |     Q1/2009 |         2009 |
--------------------------------------------------------------------------------
| Profit/loss for the period        |         4.0 |         0.4 |         32.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| OTHER COMPREHENSIVE INCOME (after |             |             |              |
| taxes):                           |             |             |              |
--------------------------------------------------------------------------------
| Exchange differences on           |         7.2 |        -6.4 |          1.8 |
| translating foreign operations    |             |             |              |
--------------------------------------------------------------------------------
| Available-for-sale investments    |         0.4 |        -0.2 |          0.4 |
--------------------------------------------------------------------------------
| Cash flow hedging                 |        -2.8 |        -0.6 |         -7.1 |
--------------------------------------------------------------------------------
| TOTAL OTHER COMPREHENSIVE INCOME  |         4.8 |        -7.2 |         -4.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL COMPREHENSIVE INCOME FOR    |         8.8 |        -6.8 |         27.6 |
| THE PERIOD                        |             |             |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL COMPREHENSIVE INCOME FOR    |             |             |              |
| THE PERIOD ATTRIBUTABLE TO:       |             |             |              |
--------------------------------------------------------------------------------
| Equity holders of the parent      |         8.0 |        -6.9 |         24.8 |
--------------------------------------------------------------------------------
| Minority interests                |         0.8 |         0.1 |          2.8 |
--------------------------------------------------------------------------------
| Total                             |         8.8 |        -6.8 |         27.6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

In calculating EPS, the interest on the hybrid bond accrued in the period       
adjusted for taxes has been deducted from the earnings for the period. The bond 
has not affected the diluted number of shares.                                  

Per-share data has been adjusted for the share offering in 2009.                



CONSOLIDATED BALANCE SHEET                                                      
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                          |   Note |    31.3.2010 |   31.3.2009 |  31.12.2009 |
--------------------------------------------------------------------------------
| ASSETS                   |        |              |             |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| NON-CURRENT ASSETS       |        |              |             |             |
--------------------------------------------------------------------------------
| Intangible assets        |     1. |         68.3 |        57.0 |        65.7 |
--------------------------------------------------------------------------------
| Goodwill                 |     2. |         90.3 |        82.7 |        88.2 |
--------------------------------------------------------------------------------
| Tangible assets          |     3. |        479.4 |       468.9 |       469.1 |
--------------------------------------------------------------------------------
| Holdings in associates   |        |         22.7 |        18.3 |        20.9 |
--------------------------------------------------------------------------------
| Trade and other          |        |         21.0 |        18.5 |        18.2 |
| receivables              |        |              |             |             |
--------------------------------------------------------------------------------
| Available-for-sale       |        |         11.1 |         9.8 |        10.5 |
| investments              |        |              |             |             |
--------------------------------------------------------------------------------
| Deferred tax asset       |        |         14.2 |         9.8 |        12.3 |
--------------------------------------------------------------------------------
| NON-CURRENT ASSETS       |        |        707.0 |       665.1 |       685.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CURRENT ASSETS           |        |              |             |             |
--------------------------------------------------------------------------------
| Inventories              |     4. |        133.5 |       144.9 |       118.7 |
--------------------------------------------------------------------------------
| Trade and other          |        |        199.6 |       194.6 |       194.3 |
| receivables              |        |              |             |             |
--------------------------------------------------------------------------------
| Income tax receivable    |        |          0.3 |         1.5 |         0.2 |
--------------------------------------------------------------------------------
| Other financial assets   |        |          2.1 |         2.1 |         2.0 |
--------------------------------------------------------------------------------
| Cash and cash            |        |         49.5 |        67.5 |        73.9 |
| equivalents              |        |              |             |             |
--------------------------------------------------------------------------------
| CURRENT ASSETS           |        |        385.1 |       410.7 |       389.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| ASSETS                   |        |      1 092.1 |     1 075.8 |     1 074.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EQUITY AND LIABILITIES   |        |              |             |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| SHAREHOLDERS' EQUITY     |        |              |             |             |
--------------------------------------------------------------------------------
| Share capital            |     5. |         66.8 |        66.8 |        66.8 |
--------------------------------------------------------------------------------
| Share premium reserve    |        |         74.2 |        73.5 |        74.2 |
--------------------------------------------------------------------------------
| Treasury shares          |        |         -0.0 |        -0.0 |        -0.0 |
--------------------------------------------------------------------------------
| Fair value reserve and   |        |        146.7 |        95.5 |       149.7 |
| other reserves           |        |              |             |             |
--------------------------------------------------------------------------------
| Translation differences  |        |         -7.1 |       -20.7 |       -13.1 |
--------------------------------------------------------------------------------
| Retained earnings        |        |        115.7 |        96.3 |       111.6 |
--------------------------------------------------------------------------------
| Equity attributable to   |        |        396.2 |       311.5 |       389.3 |
| equity holders of the    |        |              |             |             |
| parent                   |        |              |             |             |
--------------------------------------------------------------------------------
| Minority interest        |        |          9.5 |         5.5 |         9.4 |
--------------------------------------------------------------------------------
| SHAREHOLDERS' EQUITY     |        |        405.7 |       317.0 |       398.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| NON-CURRENT LIABILITIES  |        |              |             |             |
--------------------------------------------------------------------------------
| Deferred tax liability   |        |         31.7 |        33.2 |        32.2 |
--------------------------------------------------------------------------------
| Non-current              |        |        335.6 |       428.1 |       329.9 |
| interest-bearing         |        |              |             |             |
| liabilities              |        |              |             |             |
--------------------------------------------------------------------------------
| Non-current non-interest |        |          5.0 |         5.3 |         5.9 |
| bearing liabilities      |        |              |             |             |
--------------------------------------------------------------------------------
| Pension obligations      |        |          3.5 |         3.6 |         3.6 |
--------------------------------------------------------------------------------
| Non-current provisions   |        |          6.0 |         2.7 |         8.5 |
--------------------------------------------------------------------------------
| NON-CURRENT LIABILITIES  |        |        381.9 |       472.9 |       380.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CURRENT LIABILITIES      |        |              |             |             |
--------------------------------------------------------------------------------
| Current interest-bearing |        |         99.4 |        89.7 |        87.5 |
| liabilities              |        |              |             |             |
--------------------------------------------------------------------------------
| Trade and other payables |        |        199.0 |       193.1 |       202.0 |
--------------------------------------------------------------------------------
| Income tax liability     |        |          3.0 |         0.6 |         2.7 |
--------------------------------------------------------------------------------
| Current provisions       |        |          3.1 |         2.4 |         2.8 |
--------------------------------------------------------------------------------
| CURRENT LIABILITIES      |        |        304.5 |       285.8 |       295.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EQUITY AND LIABILITIES   |        |      1 092.1 |     1 075.8 |     1 074.0 |
--------------------------------------------------------------------------------



STATEMENT OF CHANGES IN CONSOLIDATED SHAREHOLDERS' EQUITY                       
(EUR million)                                                                   
--------------------------------------------------------------------------------
|       |  1. | 2. |  3. |  4. | 5. | 6. |  7. |  8. |  9. | 10. |  11. |  12. |
|       |     |    |     |     | *) |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| SHARE | 66. | 74 | -8. | 143 | 0. | 14 | -13 | 0.0 | 111 | 389 |  9.4 | 398. |
| HOLDE |   8 | .2 |   4 |  .5 |  0 | .6 |  .1 |     |  .6 |  .3 |      |    7 |
| RS'   |     |    |     |     |    |    |     |     |     |     |      |      |
| EQUIT |     |    |     |     |    |    |     |     |     |     |      |      |
| Y at  |     |    |     |     |    |    |     |     |     |     |      |      |
| 1.1.2 |     |    |     |     |    |    |     |     |     |     |      |      |
| 010   |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Incom |     | 0. | -2. |     |    | 0. | 6.0 | 0.0 | 4.0 | 8.0 |  0.8 |  8.8 |
| e and |     |  1 |   4 |     |    |  3 |     |     |     |     |      |      |
| expen |     |    |     |     |    |    |     |     |     |     |      |      |
| ses   |     |    |     |     |    |    |     |     |     |     |      |      |
| recog |     |    |     |     |    |    |     |     |     |     |      |      |
| nized |     |    |     |     |    |    |     |     |     |     |      |      |
| durin |     |    |     |     |    |    |     |     |     |     |      |      |
| g the |     |    |     |     |    |    |     |     |     |     |      |      |
| perio |     |    |     |     |    |    |     |     |     |     |      |      |
| d,    |     |    |     |     |    |    |     |     |     |     |      |      |
| total |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Share |     | -0 |     |     |    |    |     |     |     | -0. |      | -0.2 |
| -base |     | .2 |     |     |    |    |     |     |     |   2 |      |      |
| d     |     |    |     |     |    |    |     |     |     |     |      |      |
| compe |     |    |     |     |    |    |     |     |     |     |      |      |
| nsati |     |    |     |     |    |    |     |     |     |     |      |      |
| on    |     |    |     |     |    |    |     |     |     |     |      |      |
| expen |     |    |     |     |    |    |     |     |     |     |      |      |
| se    |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Other |     |    |     |     |    | -1 |     |     |     | -1. |  0.0 | -1.0 |
| chang |     |    |     |     |    | .0 |     |     |     |   0 |      |      |
| e     |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Direc |     |    |     |     |    |    |     |     | 0.1 | 0.1 | -0.2 | -0.1 |
| t     |     |    |     |     |    |    |     |     |     |     |      |      |
| recog |     |    |     |     |    |    |     |     |     |     |      |      |
| nitio |     |    |     |     |    |    |     |     |     |     |      |      |
| n in  |     |    |     |     |    |    |     |     |     |     |      |      |
| retai |     |    |     |     |    |    |     |     |     |     |      |      |
| ned   |     |    |     |     |    |    |     |     |     |     |      |      |
| earni |     |    |     |     |    |    |     |     |     |     |      |      |
| ngs   |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Trans |     |    |     |     |    |    |     |     |     | 0.0 |      |  0.0 |
| fers  |     |    |     |     |    |    |     |     |     |     |      |      |
| betwe |     |    |     |     |    |    |     |     |     |     |      |      |
| en    |     |    |     |     |    |    |     |     |     |     |      |      |
| items |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Purch |     |    |     |     |    |    |     |     |     | 0.0 |      |  0.0 |
| ase   |     |    |     |     |    |    |     |     |     |     |      |      |
| of    |     |    |     |     |    |    |     |     |     |     |      |      |
| own   |     |    |     |     |    |    |     |     |     |     |      |      |
| share |     |    |     |     |    |    |     |     |     |     |      |      |
| s     |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Incre |     |    |     |     |    |    |     |     |     | 0.0 |      |  0.0 |
| ase   |     |    |     |     |    |    |     |     |     |     |      |      |
| in    |     |    |     |     |    |    |     |     |     |     |      |      |
| holdi |     |    |     |     |    |    |     |     |     |     |      |      |
| ngs   |     |    |     |     |    |    |     |     |     |     |      |      |
| in    |     |    |     |     |    |    |     |     |     |     |      |      |
| subsi |     |    |     |     |    |    |     |     |     |     |      |      |
| diari |     |    |     |     |    |    |     |     |     |     |      |      |
| es    |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Divid |     |    |     |     |    |    |     |     |     | 0.0 | -0.6 | -0.6 |
| end   |     |    |     |     |    |    |     |     |     |     |      |      |
| distr |     |    |     |     |    |    |     |     |     |     |      |      |
| ibuti |     |    |     |     |    |    |     |     |     |     |      |      |
| on    |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| SHARE | 66. | 74 | -10 | 143 | 0. | 13 | -7. | 0.0 | 115 | 396 |  9.5 | 405. |
| HOLDE |   8 | .2 |  .8 | .5  |  0 | .9 |   1 |     |  .7 |  .2 |      |    7 |
| RS'   |     |    |     |     |    |    |     |     |     |     |      |      |
| EQUIT |     |    |     |     |    |    |     |     |     |     |      |      |
| Y at  |     |    |     |     |    |    |     |     |     |     |      |      |
| 31.03 |     |    |     |     |    |    |     |     |     |     |      |      |
| .2010 |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
|       | 1.  | 2. | 3.  | 4.  | 5. | 6. | 7.  | 8.  | 9.  | 10. | 11.  | 12.  |
|       |     |    |     |     | *) |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| SHARE | 66. | 73 | -2. | 66. | 20 | 12 | -15 | 0.0 | 97. | 318 |  5.4 | 323. |
| HOLDE |   8 | .5 |   2 |   7 | .0 | .2 |  .8 |     |   0 |  .2 |      |    7 |
| RS'   |     |    |     |     |    |    |     |     |     |     |      |      |
| EQUIT |     |    |     |     |    |    |     |     |     |     |      |      |
| Y at  |     |    |     |     |    |    |     |     |     |     |      |      |
| 1.1.2 |     |    |     |     |    |    |     |     |     |     |      |      |
| 009   |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Incom |     | -0 | -0. |     |    | -0 | -4. |     | -0. | -6. |  0.1 | -6.8 |
| e and |     | .1 |  8  |     |    | .4 |   9 |     |   7 |   9 |      |      |
| expen |     |    |     |     |    |    |     |     |     |     |      |      |
| ses   |     |    |     |     |    |    |     |     |     |     |      |      |
| recog |     |    |     |     |    |    |     |     |     |     |      |      |
| nized |     |    |     |     |    |    |     |     |     |     |      |      |
| durin |     |    |     |     |    |    |     |     |     |     |      |      |
| g the |     |    |     |     |    |    |     |     |     |     |      |      |
| perio |     |    |     |     |    |    |     |     |     |     |      |      |
| d,    |     |    |     |     |    |    |     |     |     |     |      |      |
| total |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Share |     | 0. |     |     |    |    |     |     |     | 0.2 |      |  0.2 |
| -base |     |  2 |     |     |    |    |     |     |     |     |      |      |
| d     |     |    |     |     |    |    |     |     |     |     |      |      |
| compe |     |    |     |     |    |    |     |     |     |     |      |      |
| nsati |     |    |     |     |    |    |     |     |     |     |      |      |
| on    |     |    |     |     |    |    |     |     |     |     |      |      |
| expen |     |    |     |     |    |    |     |     |     |     |      |      |
| se    |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Other |     |    |     |     |    | 0. |     |     |     | 0.0 |      |  0.0 |
| chang |     |    |     |     |    |  0 |     |     |     |     |      |      |
| e     |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Direc |     |    |     |     |    |    |     |     |     | 0.0 |      |  0.0 |
| t     |     |    |     |     |    |    |     |     |     |     |      |      |
| recog |     |    |     |     |    |    |     |     |     |     |      |      |
| nitio |     |    |     |     |    |    |     |     |     |     |      |      |
| n in  |     |    |     |     |    |    |     |     |     |     |      |      |
| retai |     |    |     |     |    |    |     |     |     |     |      |      |
| ned   |     |    |     |     |    |    |     |     |     |     |      |      |
| earni |     |    |     |     |    |    |     |     |     |     |      |      |
| ngs** |     |    |     |     |    |    |     |     |     |     |      |      |
| )     |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Trans |     |    | 0.3 |     |    | -0 |     |     |     | 0.0 |      |  0.0 |
| fers  |     |    |     |     |    | .3 |     |     |     |     |      |      |
| betwe |     |    |     |     |    |    |     |     |     |     |      |      |
| en    |     |    |     |     |    |    |     |     |     |     |      |      |
| items |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Purch |     |    |     |     |    |    |     |     |     | 0.0 |      | 0.0  |
| ase   |     |    |     |     |    |    |     |     |     |     |      |      |
| of    |     |    |     |     |    |    |     |     |     |     |      |      |
| own   |     |    |     |     |    |    |     |     |     |     |      |      |
| share |     |    |     |     |    |    |     |     |     |     |      |      |
| s     |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Payme |     |    |     |     |    |    |     |     |     | 0.0 |      |  0.0 |
| nts   |     |    |     |     |    |    |     |     |     |     |      |      |
| made  |     |    |     |     |    |    |     |     |     |     |      |      |
| in    |     |    |     |     |    |    |     |     |     |     |      |      |
| treas |     |    |     |     |    |    |     |     |     |     |      |      |
| ury   |     |    |     |     |    |    |     |     |     |     |      |      |
| share |     |    |     |     |    |    |     |     |     |     |      |      |
| s     |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| Divid |     |    |     |     |    |    |     |     |     | 0.0 |      | 0.0  |
| end   |     |    |     |     |    |    |     |     |     |     |      |      |
| distr |     |    |     |     |    |    |     |     |     |     |      |      |
| ibuti |     |    |     |     |    |    |     |     |     |     |      |      |
| on    |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
| SHARE | 66. | 73 | -2. | 66. | 20 | 11 | -20 | 0.0 | 96. | 311 |  5.5 | 317. |
| HOLDE |   8 | .5 |   8 |   7 | .0 | .5 |  .7 |     |   3 |  .5 |      |    0 |
| RS'   |     |    |     |     |    |    |     |     |     |     |      |      |
| EQUIT |     |    |     |     |    |    |     |     |     |     |      |      |
| Y at  |     |    |     |     |    |    |     |     |     |     |      |      |
| 31.03 |     |    |     |     |    |    |     |     |     |     |      |      |
| .2009 |     |    |     |     |    |    |     |     |     |     |      |      |
--------------------------------------------------------------------------------
COLUMNS: 1. Share capital, 2. Share premium reserve, 3. Revaluation reserve, 4. 
Reserve for invested unrestricted equity (RIUE), 5. Other equity item, 6. Other 
reserves, 7. Translation differences, 8. Treasury shares, 9. Retained earnings, 
10. Equity holders of the parent, 11. Minority interest, 12. Total              

*) Comprising a hybrid bond classified as equity                                
**) Comprising interest paid on hybrid bond                                     

In the financial statements for 2009, the company reported re-measurement of net
investment hedges in the revaluation reserve. In the financial statements for   
2009, the manner of reporting was changed and hedging is recognized as an       
adjustment to translation differences. The figures for the comparison year have 
been modified to correspond to the current practice.                            


CASH FLOW STATEMENT                                                             
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                  |      Q1/2010 |      Q1/2009 |        2009 |
--------------------------------------------------------------------------------
| Operating activities             |              |              |             |
--------------------------------------------------------------------------------
| EBIT                             |          5.5 |          8.2 |        55.1 |
--------------------------------------------------------------------------------
| Adjustments to EBIT              |         -0.7 |          2.3 |        -0.4 |
--------------------------------------------------------------------------------
| Depreciation and amortization    |         14.6 |         13.5 |        57.2 |
--------------------------------------------------------------------------------
| Change in provisions             |         -2.8 |          2.0 |         7.6 |
--------------------------------------------------------------------------------
| Change in net working capital    |        -27.2 |        -30.2 |         2.5 |
--------------------------------------------------------------------------------
| Financial income                 |          2.2 |          1.9 |         5.2 |
--------------------------------------------------------------------------------
| Financial expenses               |         -4.8 |         -8.7 |       -24.9 |
--------------------------------------------------------------------------------
| Taxes                            |          0.1 |         -1.3 |        -4.9 |
--------------------------------------------------------------------------------
| Net cash flow from operating     |        -13.1 |        -12.4 |        97.4 |
| activities                       |              |              |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Investing activities             |              |              |             |
--------------------------------------------------------------------------------
| Gross investments in property,   |        -16.1 |        -13.2 |       -43.7 |
| plant and equipment              |              |              |             |
--------------------------------------------------------------------------------
| Disposals of property, plant and |          1.5 |          0.5 |         2.9 |
| equipment                        |              |              |             |
--------------------------------------------------------------------------------
| Investments in subsidiary        |          0.0 |            - |        -4.7 |
--------------------------------------------------------------------------------
| Shares in associates purchased   |         -0.3 |          0.0 |        -0.3 |
--------------------------------------------------------------------------------
| Loans granted                    |         -0.7 |          0.0 |        -0.0 |
--------------------------------------------------------------------------------
| Repayments of loan receivables   |          0.1 |          0.1 |         5.1 |
--------------------------------------------------------------------------------
| Net cash flow from investing     |        -15.5 |        -12.7 |       -40.8 |
| activities                       |              |              |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flow before financing       |        -28.6 |        -25.1 |        56.6 |
| activities                       |              |              |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financing activities             |              |              |             |
--------------------------------------------------------------------------------
| Proceeds from share offering     |            - |            - |        76.8 |
--------------------------------------------------------------------------------
| Repayments of hybrid bond        |            - |            - |       -20.0 |
--------------------------------------------------------------------------------
| Current borrowings raised        |         31.2 |         16.7 |        46.6 |
--------------------------------------------------------------------------------
| Current borrowings repaid        |        -22.5 |         -2.7 |       -82.3 |
--------------------------------------------------------------------------------
| Non-current borrowings raised    |         10.4 |         10.8 |        74.7 |
--------------------------------------------------------------------------------
| Non-current borrowings repaid    |        -16.0 |        -22.0 |      -160.8 |
--------------------------------------------------------------------------------
| Interest on hybrid bond          |            - |            - |        -2.1 |
--------------------------------------------------------------------------------
| Dividends paid                   |            - |            - |        -9.4 |
--------------------------------------------------------------------------------
| Purchase of treasury shares      |          0.0 |          0.0 |         0.0 |
--------------------------------------------------------------------------------
| Net cash flow from financing     |          3.2 |          2.9 |       -76.5 |
| activities                       |              |              |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Change in cash and cash          |        -25.5 |        -22.2 |       -19.9 |
| equivalents                      |              |              |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash and cash equivalents at     |         75.9 |         94.4 |        94.4 |
| 1.1.                             |              |              |             |
--------------------------------------------------------------------------------
| Effect of changes in exchange    |          1.2 |         -2.6 |         1.4 |
| rates on cash and cash           |              |              |             |
| equivalents                      |              |              |             |
--------------------------------------------------------------------------------
| Cash and cash equivalents at     |         51.6 |         69.6 |        75.9 |
| 31.3.                            |              |              |             |
--------------------------------------------------------------------------------


FINANCIAL INDICATORS                                                            
Per-share data has been adjusted for the share offering in 2009.                

--------------------------------------------------------------------------------
|                                  |    31.3.2010 |    31.3.2009 |  31.12.2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EPS, undiluted, EUR              |         0.06 |         0.00 |        0.64 |
--------------------------------------------------------------------------------
| EPS, diluted, EUR                |         0.06 |         0.00 |        0.64 |
--------------------------------------------------------------------------------
| Equity per share, 31.3, EUR 1)   |         7.34 |         6.99 |        7.21 |
--------------------------------------------------------------------------------
| Equity ratio, %                  |         37.2 |         29.5 |        37.1 |
--------------------------------------------------------------------------------
| Adjusted average                 |              |              |             |
--------------------------------------------------------------------------------
| number of shares, mill.          |         54.0 |         44.6 |        44.9 |
--------------------------------------------------------------------------------
| Gross capital expenditure        |              |              |             |
--------------------------------------------------------------------------------
| on PPE, EUR million              |         18.9 |         12.7 |        41.3 |
--------------------------------------------------------------------------------
| Employees, end of month          |              |              |             |
--------------------------------------------------------------------------------
| average                          |        6 825 |        6 968 |       7 429 |
--------------------------------------------------------------------------------
1) Excluding minority's share of equity.                                        



NOTES TO THE GROUP'S INTERIM REPORT                                             

ACCOUNTING POLICIES                                                             

HKScan Corporation's interim report for 1 January - 31 March 2010 has been      
prepared in compliance with IAS 34 Interim Financial Reporting. The same        
accounting principles have been applied in the interim report as in the annual  
financial statements for 2009. These accounting principles are explained in the 
financial statements for 2009.                                                  

As of 1 January 2010, the Group has adopted the following new IFRS standards and
interpretations:                                                                

- Revised IAS 27. Consolidated and Separate Financial Statements (effective for 
annual periods beginning on or after 1 July 2009). The revised standard requires
the effects of changes in subsidiary ownership to be recognized directly in     
Group equity when the parent entity retains control. If control in the          
subsidiary is lost, any remaining investment is measured to fair value and any  
difference recognized in profit or loss. A corresponding accounting treatment   
will in future apply also to investments in associates (IAS 28) and interests in
joint ventures (IAS 31) As a result of the revision, the losses of a subsidiary 
can be allocated to the minority also when the losses exceed the minority's     
investment.                                                                     

The figures presented in the interim report are unaudited.                      


ANALYSIS BY SEGMENT (EUR million)                                               
Net sales and EBIT by main market area                                          

--------------------------------------------------------------------------------
|                                 |      Q1/2010 |       Q1/2009 |        2009 |
--------------------------------------------------------------------------------
| NET SALES                       |              |               |             |
--------------------------------------------------------------------------------
| - Finland                       |        167.8 |         175.3 |       732.5 |
--------------------------------------------------------------------------------
| - Sweden                        |        230.5 |         238.4 |     1 037.4 |
--------------------------------------------------------------------------------
| - Baltics                       |         35.8 |          37.3 |       156.9 |
--------------------------------------------------------------------------------
| - Poland                        |         63.9 |          56.4 |       251.7 |
--------------------------------------------------------------------------------
| - Between segments              |        -14.3 |         -15.3 |       -53.9 |
--------------------------------------------------------------------------------
| Group total                     |        483.6 |         492.1 |     2 124.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EBIT                            |              |               |             |
--------------------------------------------------------------------------------
| - Finland                       |         -0.6 |           6.2 |        27.0 |
--------------------------------------------------------------------------------
| - Sweden                        |          2.7 |           2.1 |        16.7 |
--------------------------------------------------------------------------------
| - Baltics                       |          1.1 |           1.0 |         9.8 |
--------------------------------------------------------------------------------
| - Poland                        |          4.2 |           1.6 |         9.3 |
--------------------------------------------------------------------------------
| - Between segments              |          0.0 |           0.0 |         0.0 |
--------------------------------------------------------------------------------
| Segments total                  |          7.4 |          10.9 |        62.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group administration costs      |         -1.9 |        *)-2.8 |     *) -7.7 |
--------------------------------------------------------------------------------
| Group total                     |          5.5 |           8.2 |        55.1 |
--------------------------------------------------------------------------------
*) Includes EUR 1.3 million in non-recurring severance pay relating to the      
termination of the former CEO's employment and recognized in Q1.                


NOTES TO THE BALANCE SHEET                                                      


1. CHANGES IN INTANGIBLE ASSETS                                                 
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                   |     Q1/2010 |      Q1/2009 |        2009 |
--------------------------------------------------------------------------------
| Carrying amount at beginning of   |        65.7 |         57.8 |        57.8 |
| period                            |             |              |             |
--------------------------------------------------------------------------------
| Translation differences           |         3.2 |         -0.4 |         3.0 |
--------------------------------------------------------------------------------
| Increase                          |         0.2 |          0.0 |         2.8 |
--------------------------------------------------------------------------------
| Increase (acquisitions)           |         0.0 |          0.0 |         2.0 |
--------------------------------------------------------------------------------
| Decrease                          |        -0.0 |         -0.0 |         0.0 |
--------------------------------------------------------------------------------
| Depreciation and impairment       |        -0.8 |         -0.5 |        -2.7 |
--------------------------------------------------------------------------------
| Transfer to other balance sheet   |         0.0 |          0.1 |         2.8 |
| item                              |             |              |             |
--------------------------------------------------------------------------------
| Carrying amount at end of period  |        68.3 |         57.0 |        65.7 |
--------------------------------------------------------------------------------


2. CHANGES IN GOODWILL                                                          
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                   |     Q1/2010 |      Q1/2009 |        2009 |
--------------------------------------------------------------------------------
| Carrying amount at beginning of   |        88.2 |         81.7 |        81.7 |
| period                            |             |              |             |
--------------------------------------------------------------------------------
| Translation differences           |         2.1 |         -0.2 |         1.6 |
--------------------------------------------------------------------------------
| Increase                          |         0.0 |          1.2 |         1.9 |
--------------------------------------------------------------------------------
| Increase (acquisitions)           |         0.0 |          0.0 |         3.0 |
--------------------------------------------------------------------------------
| Decrease                          |         0.0 |          0.0 |         0.0 |
--------------------------------------------------------------------------------
| Depreciation and impairment       |         0.0 |          0.0 |         0.0 |
--------------------------------------------------------------------------------
| Transfer to other balance sheet   |         0.0 |          0.0 |         0.0 |
| item                              |             |              |             |
--------------------------------------------------------------------------------
| Carrying amount at end of period  |        90.3 |         82.7 |        88.2 |
--------------------------------------------------------------------------------


3. CHANGES IN TANGIBLE ASSETS                                                   
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                   |     Q1/2010 |      Q1/2009 |        2009 |
--------------------------------------------------------------------------------
| Carrying amount at beginning of   |       469.1 |        479.3 |       479.3 |
| period                            |             |              |             |
--------------------------------------------------------------------------------
| Translation differences           |        10.0 |         -9.0 |         6.6 |
--------------------------------------------------------------------------------
| Increase                          |        17.0 |         11.8 |        41.2 |
--------------------------------------------------------------------------------
| Increase (acquisitions)           |         0.0 |          0.3 |         3.8 |
--------------------------------------------------------------------------------
| Decrease                          |        -2.3 |         -0.5 |        -3.3 |
--------------------------------------------------------------------------------
| Depreciation and impairment       |       -14.4 |        -12.9 |       -55.8 |
--------------------------------------------------------------------------------
| Transfer to other balance sheet   |         0.0 |         -0.1 |        -2.6 |
| item                              |             |              |             |
--------------------------------------------------------------------------------
| Carrying amount at end of period  |       479.4 |        468.9 |       469.1 |
--------------------------------------------------------------------------------


4. INVENTORIES                                                                  
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                   |     Q1/2010 |      Q1/2009 |        2009 |
--------------------------------------------------------------------------------
| Materials and supplies            |        82.6 |         94.9 |        73.9 |
--------------------------------------------------------------------------------
| Unfinished products               |         7.8 |          7.4 |         7.1 |
--------------------------------------------------------------------------------
| Finished products                 |        29.6 |         29.0 |        23.7 |
--------------------------------------------------------------------------------
| Goods                             |         0.1 |          0.1 |         0.0 |
--------------------------------------------------------------------------------
| Other inventories                 |         3.9 |          4.1 |         4.1 |
--------------------------------------------------------------------------------
| Prepayments                       |         2.4 |          1.8 |         2.1 |
--------------------------------------------------------------------------------
| Live animals, IFRS 41             |         7.2 |          7.7 |         7.6 |
--------------------------------------------------------------------------------
| Total inventories                 |       133.5 |        144.9 |       118.7 |
--------------------------------------------------------------------------------



5. NOTES TO SHAREHOLDERS' EQUITY                                                

--------------------------------------------------------------------------------
| Share capital | Number of |   Share |   Share |     RIUE | Treasury |   Tot. |
| and share     | outstandi | capital | premium |          |   shares |        |
| premium       | ng shares |         | reserve |          |          |        |
| reserve       |           |         |         |          |          |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 1.1.2010      |    53 974 |    66.8 |    72.9 |    143.5 |      0.0 |  283.2 |
|               |       540 |         |         |          |          |        |
--------------------------------------------------------------------------------
| 31.3.2010     |    53 974 |    66.8 |    72.9 |    143.5 |      0.0 |  283.2 |
|               |       540 |         |         |          |          |        |
--------------------------------------------------------------------------------

RIUE = Reserve for invested unrestricted equity                                 

DERIVATIVE INSTRUMENT LIABILITIES                                               
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                     |  31.3.2010 |  31.3.2009 |   31.12.2009 |
--------------------------------------------------------------------------------
| Nominal values of derivative        |            |            |              |
| instruments                         |            |            |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Foreign exchange derivatives        |    * 136.5 |      106.8 |        104.6 |
--------------------------------------------------------------------------------
| Interest-rate derivatives           |      206.8 |      276.6 |        203.5 |
--------------------------------------------------------------------------------
| Electricity derivatives             |       11.1 |        8.7 |         10.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Fair values of derivative           |            |            |              |
| instruments                         |            |            |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Foreign exchange derivatives        |       -0.7 |       -0.8 |         -1.1 |
--------------------------------------------------------------------------------
| Interest-rate derivatives           |      -14.7 |      -15.0 |        -11.3 |
--------------------------------------------------------------------------------
| Electricity derivatives             |       -1.0 |       -2.5 |         -0.6 |
--------------------------------------------------------------------------------
* the figure includes EUR 35.5 million in foreign exchange derivatives maturing 
in early April 2010 and already extended                                        


CONSOLIDATED OTHER CONTINGENT LIABILITIES                                       
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                     |  31.3.2010 |  31.3.2009 |   31.12.2009 |
--------------------------------------------------------------------------------
| Debts secured by                    |            |            |              |
--------------------------------------------------------------------------------
| pledges or mortgages                |            |            |              |
--------------------------------------------------------------------------------
| - loans from financial institutions |       35.6 |       37.9 |         33.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Given as security                   |            |            |              |
--------------------------------------------------------------------------------
| - real estate mortgages             |       53.1 |       40.2 |         55.5 |
--------------------------------------------------------------------------------
| - pledges                           |       32.4 |       20.1 |         30.4 |
--------------------------------------------------------------------------------
| - floating charges                  |       21.4 |       15.9 |         20.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| For associates                      |            |            |              |
--------------------------------------------------------------------------------
| - guarantees                        |        5.0 |        5.5 |          5.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| For others                          |            |            |              |
--------------------------------------------------------------------------------
| - guarantees and pledges            |       11.7 |       11.2 |         12.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other contingencies                 |            |            |              |
--------------------------------------------------------------------------------
| Leasing commitments                 |       20.6 |       20.0 |         19.0 |
--------------------------------------------------------------------------------
| Rent liabilities                    |       41.7 |       43.7 |         40.6 |
--------------------------------------------------------------------------------
| Other commitments                   |        6.1 |        4.5 |          5.8 |
--------------------------------------------------------------------------------


BUSINESS TRANSACTIONS WITH RELATED PARTIES                                      
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                     |    Q1/2010 |    Q1/2009 |         2009 |
--------------------------------------------------------------------------------
| Sales to associates                 |        9.2 |        7.4 |         34.9 |
--------------------------------------------------------------------------------
| Purchases from associates           |        9.2 |        9.3 |         35.2 |
--------------------------------------------------------------------------------
| Trade and other receivables         |        2.0 |        1.8 |          2.5 |
--------------------------------------------------------------------------------
| Trade and other payables            |        9.1 |        8.7 |          8.5 |
--------------------------------------------------------------------------------
| Severance pay to the CEO            |        0.0 |        1.3 |          1.3 |
--------------------------------------------------------------------------------


NON-RECURRING ITEMS                                                             
(EUR million)                                                                   
--------------------------------------------------------------------------------
|                                     |    Q1/2010 |    Q1/2009 |         2009 |
--------------------------------------------------------------------------------
| Employee benefits expenses          |          - |       -3.6 |        -10.8 |
--------------------------------------------------------------------------------
| Depreciation and impairment         |          - |        0.0 |         -1.9 |
--------------------------------------------------------------------------------
| Total non-recurring items           |          - |       -3.6 |        -12.7 |
--------------------------------------------------------------------------------

The figures presented in the interim report are unaudited.                      


Vantaa, 4 May 2010                                                              

HKScan Corporation                                                              
Board of Directors                                                              



Further information is available from CEO Matti Perkonoja. Please leave any     
messages for him to call with Marjukka Hujanen on +358 (0)10 570 6218.          


HKScan is one of the leading food companies in northern Europe with home markets
in Finland, Sweden, the Baltics and Poland. HKScan manufactures, sells and      
markets pork and beef, poultry products, processed meats and convenience foods  
under several well-known local brand names. Its customers are retail, the HoReCa
sector, industry and export customers. HKScan is active in nine countries and   
has some 10,000 employees. It had net sales of 2.1 billion euro in 2009.        



DISTRIBUTION:                                                                   
NASDAQ OMX Helsinki                                                             
Financial Supervisory Authority FIN-FSA                                         
Main media                                                                      
www.hkscan.com

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