Raisio - Interim report (Q1 and Q3)

Raisio’s EBIT improved

Raisio plc      Interim Report 14 August 2012 at 8:30 Finnish time

RAISIO'S EBIT IMPROVED

April-June 2012, continuing operations excluding one-off items

  -- Net sales totalled EUR 150.6 (Q2/2011: EUR 150.5 million).
  -- EBIT EUR 10.6 million (Q2/2011: EUR 10.2 million) accounting for 7.1%
     (6.8%) of net sales.
  -- Good profitability for the Brands Division, EBIT 12.8% (10.3%) of net
     sales.
  -- Raisioagro's EBIT remains weak due to market conditions in feed protein
     business.
  -- Redemption process of Raisio UK's non-controlling interest in the final
     stage.

Raisio Group's key figures

                                         Q2/    Q2/  Q1-Q2/ 2012  Q1-Q2/   2011 
                                        2012   2011                2011         
--------------------------------------------------------------------------------
Results from continuing                                                         
 operations                                                                     
--------------------------------------------------------------------------------
Net sales                          M€  150.6  150.5        285.6   272.2   552.6
--------------------------------------------------------------------------------
Change in net sales                 %    0.1   30.0          4.9    37.0    30.5
--------------------------------------------------------------------------------
EBIT                               M€   10.6   10.2         17.3   16.2*   31.8*
--------------------------------------------------------------------------------
EBIT                                %    7.1    6.8          6.1    6.0*    5.8*
--------------------------------------------------------------------------------
Depreciation and impairment        M€    4.2    4.1          8.3     8.0    17.0
--------------------------------------------------------------------------------
EBITDA                             M€   14.8   14.2         25.6   24.2*   48.8*
--------------------------------------------------------------------------------
Net financial expenses             M€  -0.6*   -0.9        -0.9*   -1.0*   -1.5*
--------------------------------------------------------------------------------
Earnings per share (EPS)            €  0.05*   0.05        0.08*  0.08*    0.16*
--------------------------------------------------------------------------------
Balance sheet                                                                   
--------------------------------------------------------------------------------
Equity ratio                        %      -      -         58.1    60.7    60.2
--------------------------------------------------------------------------------
Gearing                             %      -      -          2.4    13.5    -7.5
--------------------------------------------------------------------------------
Net interest-bearing debt          M€      -      -          7.5    42.7   -24.8
--------------------------------------------------------------------------------
Equity per share                    €      -      -         2.05    2.02    2.13
--------------------------------------------------------------------------------
Gross investments                  M€    1.8    1.3        6.0**  66.8**  71.2**
--------------------------------------------------------------------------------
Share                                                                           
--------------------------------------------------------------------------------
Market capitalisation***           M€      -      -        391.3   379.0   372.3
--------------------------------------------------------------------------------
Enterprise value (EV)              M€      -      -        398.8   421.7   347.5
--------------------------------------------------------------------------------
EV/EBITDA                                  -      -          8.0    10.3     7.1
--------------------------------------------------------------------------------

 *                    Excluding one-off items
**                   Including acquisitions
***                 Excluding the company shares held by the Group

Chief Executive's review

“Raisio's second quarter went as expected. Brands Division's net sales growth
and profitability developed in accordance with the objective. In the UK,
business performance has been enhanced to meet the level of major branded
houses. 

In the first half of 2012, Raisioagro's new business model and extended product
range were well received by customers. In June, we started sales of Neste Oil's
liquid fuels. In addition to feeds, Raisio's goal is to provide Finnish grain
and livestock farms with sufficiently wide range of the most common farming
supplies at competitive prices. We are looking for new solutions to the
profitability problem in vegetable oil crushing. 

Raisio continues implementing its growth phase. This can be seen in our
activeness on the acquisition front and in closer integration of the acquired
companies. Our growth also brings added value to owners. Our acquisitions have
been successful and the acquired companies are now in better shape than they
were at the time of acquisition.” 

Guidance unchanged

Raisio continues the implementation of its growth strategy both organically and
through acquisitions. We expect EBIT to further improve annually. 

RAISIO PLC

Heidi Hirvonen
Communications and IR Manager
Tel. +358 50 567 3060



Further information:
Matti Rihko, CEO, tel. +358 400 830 727
Jyrki Paappa, CFO, tel. +358 50 556 6512
Heidi Hirvonen, Communications and IR Manager, tel. +358 50 567 3060



Events:
A press and analyst event in Finnish will be arranged in Helsinki on Tuesday 14
August 2012 starting at 1.00 p.m. Finnish time. It will be held at Hotel
Scandic Simonkenttä, in the Pavilion meeting room. The address is Simonkatu 9,
Helsinki. 

Chief Executive's review in English will be published on Raisio's web site at
http://www.raisio.com/www/page/8133

Attachments:

raisio_interim_report_q2_2012.pdf