2017-02-13 09:24:28 CET
2017-02-13 09:24:28 CET
REGULATED INFORMATION
Raisio - Financial Statement Release
Raisio plc, Financial Statements Bulletin 2016
Raisio plc Financial statement release 13 February 2017
RAISIO PLC, FINANCIAL STATEMENTS BULLETIN 2016
January-December 2016
-- Raisio Group’s comparable EBIT amounted to EUR 50.7 (51.7) million,
accounting for 11.6 (9.9)% of net sales.
-- Brands Division’s comparable EBIT totalled EUR 50.5 (55.4) million,
accounting for 15.8 (14.4)% of net sales.
-- Raisioagro’s comparable EBIT was EUR 3.7 (2.8) million, accounting for 2.9
(1.9)% of net sales.
-- The Group’s net sales totalled EUR 436.3 (521.2) million.
-- The Board’s dividend proposal is EUR 0.17 (0.16) per share.
October-December 2016
-- Raisio Group’s comparable EBIT amounted to EUR 12.0 (12.0) million,
accounting for 12.6 (9.8)% of net sales.
-- Brands Division’s comparable EBIT totalled EUR 13.8 (13.9) million,
accounting for 18.9 (14.3)% of net sales.
-- Raisioagro’s comparable EBIT totalled EUR 0.0 (0.0) million.
-- The Group’s net sales totalled EUR 95.4 (122.7) million.
CEO’S REVIEW FOR 2016
“I would like to thank Raisio’s employees for their dedication and work well
done. The first few weeks as Raisio’s CEO have clearly shown me the key
resources that affect Raisio's success: professional and determined personnel,
active partnerships with the customers, consumer- and customer-oriented
approach and healthy products supporting sustainable development.
Raisio’s Board of Directors has initiated strategy work which, once completed
in May 2017, shows clearly the company's direction. One key theme is to turn
the Brands Division’s net sales decline back to growth path. In order to carry
out Raisio’s objectives, strengthen the brands and ensure business growth, we
need expertise, ideas, commitment and open cooperation of all Raisio employees.
With determined and target-oriented work, we can ensure Raisio’s future success
and continue to create value for our shareholders.
Raisio’s Board of Directors will propose the Annual General Meeting a dividend
of 17 cents per share for 2016. If the proposal is approved by the Meeting,
Raisio has increased its dividend for ten consecutive years.
Raisio’s comparable EBIT of EUR 50.7 million was a good performance in a
situation where the exchange rate changes of the British pound had a negative
impact of almost EUR 3 million on our EBIT and some EUR 20 million on net
sales. With comparable exchange rates, Raisio would have reached clearly better
comparable EBIT than in 2015. Raisio’s relative profitability and comparable
return on investment continued to clearly improve with the structural changes
and enhanced operations completed during the year.
Benecol’s market share strengthened in the UK, which is by far the largest
market for Benecol products. Elovena products continued to show good growth in
Finland.
The performance of the Czech confectionery business remained strong and in the
UK, Nimbus, a producer of inclusions and toppings, also continued to perform
well. As a result of production challenges at the Leicester plant, the result
of the UK’s confectionery business was down from the comparison period.
Over the last few years, Raisioagro has carried out changes resulting in wide
range of value-added products and services, and in improved operational
efficiency and business profitability.”
RAISIO GROUP’S KEY FIGURES
Q4/ Q4/ Q3/ Q2/ Q1/ 2016 2015
2016 2015 2016 2016 2016
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Result
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Net sales M€ 95.4 122.7 102.8 124.1 114.0 436.3 521.2
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Change in net sales % -22.3 4.2 -23.5 -12.3 -6.9 -16.3 5.5
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EBIT M€ 11.5 5.7 13.9 -6.2 9.7 28.9 42.4
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EBIT % 12.1 4.7 13.6 -5.0 8.5 6.6 8.1
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Items affecting M€ 0.5 6.3 0.1 21.2 0.0 21.8 9.2
comparability
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Comparable EBIT M€ 12.0 12.0 14.0 15.0 9.7 50.7 51.7
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Comparable EBIT % 12.6 9.8 13.6 12.1 8.5 11.6 9.9
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-Depreciations M€ -2.6 -2.5 -2.6 -3.1 -3.1 -11.3 -14.1
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-Impairment M€ 0.3 -4.7 0.5 -17.0 0.0 -16.1 -7.0
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Depreciations and M€ -2.3 -7.1 -2.1 -20.0 -3.1 -27.4 -21.1
impairment, in total
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Items affecting comparable M€ -0.3 3.7 -0.5 17.0 0.0 16.1 4.7
depreciations and
impairment
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Comparable depreciations M€ -2.6 -3.5 -2.6 -3.1 -3.1 -11.3 -16.5
and impairment
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EBITDA M€ 13.8 12.8 16.0 13.9 12.7 56.3 63.6
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Items affecting comparable M€ 0.9 2.6 0.6 4.2 0.0 5.7 4.6
EBITDA
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Comparable EBITDA M€ 14.6 15.4 16.6 18.1 12.7 62.0 68.1
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Financial items M€ 0.2 -1.0 -0.5 -0.9 -0.9 -2.2 -2.5
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Earnings per share (EPS) € 0.06 0.04 0.07 -0.05 0.05 0.12 0.22
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Comparable earnings per € 0.06 0.06 0.07 0.07 0.05 0.25 0.26
share (EPS)
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Balance sheet
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Equity ratio % - - - - - 66.8 62.3
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Gearing % - - - - - 8.5 12.1
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Net interest-bearing debt M€ - - - - - 26.7 42.2
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Equity per share € - - - - - 1.99 2.23
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Dividend per share € - - - - - 0.17* 0.16
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Investments M€ 5.0 3.3 5.1 4.3 4.0 18.3 11.0
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* Board of Directors’ proposal to the Annual General Meeting
GUIDANCE FOR 2017
In 2017, Raisio will invest in brands, product concepts, sales and marketing
and in the enhancement of its operations. This will pave the way for future
growth and success. Raisio estimates its comparable EBIT for 2017 to fall
slightly short of comparable EBIT for 2016. Exchange rates will continue to
significantly affect Raisio’s EBIT.
RAISIO PLC
Heidi Hirvonen
Communications and IR Manager
tel. +358 50 567 3060
Further information:
Jarmo Puputti, CEO, tel. +358 50 352 8740
Antti Elevuori, CFO, tel. +358 40 560 4148
Heidi Hirvonen, Communications and IR Manager, tel. +358 50 567 3060
Chief Executive’s video in English will be available on Raisio’s web site at
www.raisio.com
Raisio’s financial reports in 2017
-- Raisio’s Online Annual Report 2016 will be published in week 10 at
www.raisio.com
-- Financial report for January-March on 10 May 2017
-- Half-Year Financial Report for January-June on 9 August 2017
-- Financial report for January-September on 8 November 2017
The interim report has not been audited.
Raisio plc
Raisio plc is an international specialist in plant-based nutrition. Raisio’s
operations are divided into two divisions: Brands and Raisioagro. The Group’s
key market areas are Finland, Great Britain, the Czech Republic, Russia and
Poland. Markets for cholesterol lowering Benecol products are global. Raisio
plc’s shares are listed on Nasdaq Helsinki Ltd. In 2016, the Group's net sales
totalled EUR 436,3 million and comparable EBIT was EUR 50.7 million. The Group
employs some 1,400 people. Raisio’s best-known brands are Benecol, Benemilk,
Elovena, Fox’s and Poppets. Benemilk feeds for milk production and Benecol for
cholesterol lowering are Raisio’s top innovations. For more information on
Raisio go to www.raisio.com/en
Distribution
Nasdaq
Key media
www.raisio.com
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