2017-05-10 07:30:02 CEST
2017-05-10 07:30:02 CEST
REGULATED INFORMATION
Raisio - Interim report (Q1 and Q3)
Raisio plc's Interim Report January-March 2017: Raisio’s comparable EBIT totalled EUR 10.6 million
Raisio plc Interim Report 10 May 2017 at 8:30 a.m. Finnish time
RAISIO’S COMPARABLE EBIT TOTALLED EUR 10.6 MILLION
January-March 2017
-- The Group’s comparable EBIT totalled EUR 10.6 million (Q1/2016: EUR 9.7
million), accounting for 11.4% (8.5%) of net sales.
-- The Group’s net sales totalled EUR 92.5 million (EUR 114.0 million).
-- EBIT of the Brands Division was EUR 12.0 million (EUR 11.4 million),
accounting for 16.6% (12.6%) of net sales.
-- Raisioagro’s EBIT was EUR -0.3 million (EUR 0.0 million).
CEO JARMO PUPUTTI’S REVIEW
“Raisio’s comparable EBIT amounted to EUR 10.6 million which means an
improvement of EUR 0.9 million from the comparison period. Despite the decline
in net sales, Raisio’s relative profitability increased to 11.4 per cent
compared to 8.5 per cent of Q1/2016. The key drivers of the improvement in
earnings were the divestment of loss-making UK snack bar business and organic
growth in the Healthy Snacks business.
Net sales and EBIT for the UK Benecol and Confectionery businesses decreased
because of the weaker pound. Benecol’s price increases in the UK retail trade
did not fully compensate for the negative effects of the currency and raw
material price increases. In the UK, the profitability of Confectionery
business fell due to a sales decline in our own branded products and delivery
difficulties. To ensure Raisio’s future success, it is essential that we take
resolute action to remedy and improve the situation.
During the first months of this year, we have been working on our business
strategies and identified several growth opportunities. We have also looked
critically at our opportunities and taken account of the increasingly rapid
changes in the operating environment. Through our strong balance sheet, we also
have an opportunity to be an active player in M&A.
The focus of Raisio’s renewed business strategy is on wellbeing and sustainable
growth. The core of Raisio’s strategy consists of plant-based, healthy and
responsible branded products that meet the needs of consumers and customers.
The renewed strategy is based on our strengths. I find this very good since it
means that we have long been on the right track and identified the key trends
for the future. What is new in our strategy is our determination to expand into
new markets and new product categories as well as the ability to launch new
products faster. With these measures, we ensure profitable growth.
I am convinced that we have the ability and desire to succeed at Raisio. Making
use of our staff expertise and enthusiasm plays a crucial role in the
implementation of our strategy. We have also started improving the efficiency
of operations in line with the lean philosophy. We will invest in our brands in
order to support growth. We will be able to finance a significant part of
investments with the benefits of improved efficiency.”
Raisio Group’s key figures
Q1/2017 Q1/2016 2016
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Result
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Net sales M€ 92.5 114.0 436.3
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Change in net sales % -18.9 -6.9 -16.3
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EBIT M€ 9.6 9.7 28.9
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EBIT % 10.4 8.5 6.6
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Items affecting comparability M€ 0.9 0.0 21.8
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Comparable EBIT M€ 10.6 9.7 50.7
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Comparable EBIT % 11.4 8.5 11.6
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- Depreciations M€ -2.6 -3.1 -11.3
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- Impairment M€ 0.0 0.0 -16.1
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Depreciations and impairment, in total M€ -2.6 -3.1 -27.4
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Items affecting comparable depreciations and M€ 0.0 0.0 16.1
impairment
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Comparable depreciations and impairment M€ -2.6 -3.1 -11.3
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EBITDA M€ 12.2 12.7 56.3
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Items affecting comparable EBITDA M€ 0.9 0.0 5.7
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Comparable EBITDA M€ 13.1 12.7 62.0
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Financial items M€ 0.0 -0.9 -2.2
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Earnings per share (EPS) € 0.05 0.05 0.12
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Comparable earnings per share (EPS) € 0.05 0.05 0.25
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Balance sheet
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Equity ratio % 66.6 58.7 66.8
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Gearing % 17.3 14.7 8.5
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Net interest-bearing debt M€ 50.9 46.6 26.7
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Equity per share € 1.86 2.02 1.99
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Investments M€ 3.9 4.0 18.3
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2017 OUTLOOK REMAINS UNCHANGED
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 net sales and 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 reviews in 2017
-- Half-Year Financial Report for January-June on 9 August 2017
-- Interim Report 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 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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