2016-11-09 07:30:02 CET
2016-11-09 07:30:02 CET
REGULATED INFORMATION
Raisio - Interim report (Q1 and Q3)
Raisio plc, Interim Report July-September: Raisio’s comparable EBIT EUR 14.0 million
Raisio plc Interim Report 9 November 2016 at 8:30 a.m. Finnish time
RAISIO’S COMPARABLE EBIT EUR 14.0 MILLION
July-September 2016
-- Raisio Group’s comparable EBIT amounted to EUR 14.0 (16.0) million,
accounting for 13.6 (11.9)% of net sales.
-- Brands Division’s comparable EBIT totalled EUR 11.1 (15.8) million,
accounting for 16.2 (16.5)% of net sales.
-- Raisioagro’s EBIT was EUR 2.3 (1.3) million, accounting for 6.1 (3.3)% of
net sales.
-- Group’s net sales totalled EUR 102.8 (134.5) million.
-- Cash flow from business operations was EUR 16.3 (17.5) million.
-- Raisio specifies its outlook for 2016; EBIT is estimated to exceed the 2015
level at comparable exchange rates while comparable reported EBIT is
expected to reach around EUR 50 million due to uncertainty related to the
development of the pound.
January-September 2016
-- Raisio Group’s comparable EBIT amounted to EUR 38.7 (39.7) million,
accounting for 11.3 (10.0)% of net sales.
-- Brands Division’s comparable EBIT totalled EUR 36.7 (41.4) million,
accounting for 14.9 (14.4)% of net sales.
-- Raisioagro’s EBIT was EUR 3.7 (2.8) million, accounting for 3.6 (2.4)% of
net sales.
-- Group’s net sales totalled EUR 340.9 (398.5) million.
CEO Matti Rihko: Raisio continues to focus on more profitable businesses
“The Group’s comparable EBIT of EUR 14 million was Raisio’s third best
quarterly results ever. What makes this good performance particularly
significant is that the weakening of the pound alone had a negative impact of
over one million euros on Raisio’s EBIT. At comparable exchange rates, Raisio
is cumulatively ahead of last year.
In the UK, sales volume of Benecol products continued to increase, which is a
strong performance in the largest market of Benecol products, particularly
bearing in mind that Benecol gained market shares from its competitors. Demand
for healthy and ecological snacks is showing strong growth. Sales in Elovena
products increased by over 10 per cent. Elovena’s success shows Raisio’s
ability to anticipate future trends and to launch products that meet customer
needs. The portfolio and sales of Raisio’s own confectionery brands have grown
successfully over the years with new products and packaging options although
the growth levelled off during the third quarter.
Raisioagro improved its EBIT by almost 70 per cent to EUR 2.3 million and was
able to further reduce its net working capital. Profitability improved
particularly through enhanced business operations, but also as a result of the
innovations supporting sustainable development, such as Benemilk and Benella.
Even in the milk crisis, Benemilk has been able to keep its 7 per cent market
share. Sales in Benella are growing strongly and creating a new kind of
cooperation concept throughout the chain, from fish farms to supermarket fish
counters.”
Raisio Group’s key figures
7-9/ 7-9/ 1-9/ 1-9/ 2015
2016 2015 2016 2015
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Result
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Net sales M€ 102.8 134.5 340.9 398.5 521.2
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Change in net sales % -23.5 5.9 -14.4 6.0 5.5
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EBIT M€ 13.9 16.0 17.4 36.7 42.4
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EBIT-% % 13.6 11.9 5.1 9.2 8.1
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Items affecting comparability M€ 0.1 0.0 21.2 2.9 9.2
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Comparable EBIT M€ 14.0 16.0 38.7 39.7 51.7
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Comparable EBIT-% % 13.6 11.9 11.3 10.0 9.9
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- Depreciations M€ -2.6 -3.5 -8.7 -10.7 -14.1
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- Impairment M€ 0.5 0.0 -16.5 -3.3 -7.0
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Depreciations and impairment, in total M€ -2.1 -3.5 -25.1 -14.0 -21.1
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Items affecting comparable M€ -0.5 0.0 16.5 1.0 4.7
depreciations and impairment
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Comparable depreciations and impairment M€ -2.6 -3.5 -8.7 -13.0 -16.5
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EBITDA M€ 16.0 19.5 42.6 50.7 63.6
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Items affecting comparable EBITDA M€ 0.6 0.0 4.8 2.0 4.6
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Comparable EBITDA M€ 16.6 19.5 47.3 52.7 68.1
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Financial items M€ -0.5 -0.7 -2.4 -1.6 -2.5
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Earnings per share (EPS) € 0.07 0.08 0.06 0.18 0.22
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Comparable earnings per share (EPS) € 0.07 0.08 0.19 0.20 0.26
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Balance sheet
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Equity ratio % - - 63.1 60.3 62.3
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Gearing % - - 13.1 18.0 12.1
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Net interest-bearing debt M€ - - 39.8 61.7 42.2
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Equity per share € - - 1.93 2.18 2.23
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Investments M€ 5.1 2.6 13.4 7.7 11.0
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OUTLOOK FOR 2016 SPECIFIED
Raisio specifies its outlook for 2016; EBIT is estimated to exceed the 2015
level at comparable exchange rates while comparable reported EBIT is expected
to reach around EUR 50 million due to uncertainty related to the development of
the pound.
Previous outlook specified on 10 August 2016
Despite the weakened visibility and difficult market conditions, Raisio expects
its comparable EBIT to improve in 2016.
RAISIO PLC
Heidi Hirvonen
Communications and IR Manager
tel. +358 50 567 3060
Further information:
Matti Rihko, CEO, tel. +358 400 830 727
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.
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 2015, the Group's net sales
totalled EUR 521 million and EBIT was EUR 51.7 million excluding one-off items.
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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