Raisio Plc's Interim Report, May 13, 2025 at 8.30 a.m. Finnish time
Off to a good start in the new strategy period 2025−2027
FINANCIAL DEVELOPMENT IN BRIEF
JANUARY-MARCH 2025, CONTINUING OPERATIONS
• The Group's net sales totalled EUR 57.8 (55.5) million, which signified a
growth of 4.2%.
• Comparable EBITDA was EUR 8.5* (6.8) million, which accounted for 14.7%
(12.3%) of net sales.
• EBITDA was EUR 8.5 (6.1**) million, which accounted for 14.8% (11.0%) of net
sales.
• Comparable EBIT was EUR 6.1* (4.2) million, accounting for 10.6% (7.6%) of net
sales.
• EBIT was EUR 6.1 (3.6**) million, which accounted for 10.6% (6.4%) of net
sales.
• The Group's cash flow from continuing operations after financial items and
taxes totalled EUR 7.6 (8.5) million.
• The comparable return on invested capital (ROIC) was 10.1% (7.4%) and the
return on invested capital (ROIC) was 10.1% (6.3%).
• Comparable earnings per share were EUR 0.03 (0.03) per share.
• Earnings per share were EUR 0.03 (0.02) per share.
*Comparable EBITDA and EBIT for the review period include a reversal of a
provision of EUR 0.3 million for a retrospective payment to the authorities,
which has a positive impact on the result.
**EBITDA and EBIT for the comparison period include EUR 0.6 million in costs
related to business expansion and EUR 0.1 million in costs related to
reorganisation.
CEO PASI FLINKMAN:
We are off to a good start in 2025
Raisio's operating environment has been stable despite macroeconomic and trade
policy challenges. Food prices rose in all of our main markets during the first
quarter, which weakened the overall volume development in the markets. Overall,
however, the food industry is stable and the impact of economic cycles is
limited. In line with our strategy, our main focus is on Europe, and we are not
dependent on the US or Chinese markets. The direct impact of potential tariffs
on our business is likely to be muted, but the indirect effects may have some
significance for Raisio's business.
The 4.2% growth in the first quarter is faster than the overall market
development, which is in line with our targets, and we have continued to
increase our market share. The growth is mainly attributable to the volume
growth of our largest brands, Benecol® and Elovena®, in our main markets. In the
B2B market in Finland, strikes in the bakery industry slowed down sales
development, while exports performed well.
EBITDA also developed positively, particularly thanks to our sales mix and the
efficiency measures launched in the second half of last year.
We continued to increase our investments in our main brands, which developed
very well as a result. Additionally, Finnish consumers voted Elovena® the most
sustainable brand in Finland for the second year in a row in the Sustainable
Brand Index 2025 survey.
The growth in comparable EBIT slightly exceeded our expectations in the first
quarter: 44% compared to the comparison period. In addition to our solid basic
operations and continuous improvement, the quarter's result was boosted by the
strong early-year development of the Elovena® and Benecol® brands and the
favourable timing of plant stanol ester deliveries. We are expecting
fluctuations throughout the quarters of this year, but our outlook for the
overall annual performance remains positive.
Implementation of new strategy underway
In March, we announced our new strategy. Within our existing categories, we are
seeking growth particularly in breakfast and snack products and heart-healthy
products. In addition to these, we are seeking growth from new business
opportunities, which constitute the company's third growth area. To ensure the
efficient use of resources and focus on the growth areas identified in our
strategy, we divested our plant protein business. The deal was closed right at
the end of the first quarter and did not have any material impact on the results
for the quarter. The sale of a loss-making business will naturally improve the
Group's operational result.
As part of the implementation of our strategy, we launched an organisational
reform in March to ensure that our management and performance responsibilities
support the implementation of our strategy and that we have the necessary
expertise and resources to carry out our strategy.
We will present our new strategy at the Capital Markets Day on 27 May 2025. For
more information on the Capital Markets Day, visit our website at
www.raisio.com. (https://www.raisio.com/en/front-page/)
OUTLOOK 2025
Raisio projects the comparable EBIT for continuing operations for the financial
year 2025 to increase compared to 2024.
In Raisio, Finland 12 May, 2025
Raisio plc
Board of Directors
Further information:
Pasi Flinkman, CEO, tel. +358 400 819 947
Mika Saarinen, CFO, tel. +358 40 072 6808
The Finnish-language webcast of the Interim Report by the CEO and CFO will start
on 13 May 2025 at 12.00 noon, Finnish time. This is the direct link to the
webcast: https://raisio.events.inderes.com/q1-2025
Raisio plc's financial releases in 2025:
Raisio's Half-Year Financial Report for January-June will be published on 12
August 2025.
Raisio's Interim Report for January-September will be published on 11 November
2025.
RAISIO PLC
At Raisio, we make food from the heart, with the aim of bringing health to
ourselves and the Earth. We make a healthier and happier world around us by
innovating and winning the hearts of our consumers. We do not work alone;
instead, we rely on our cooperation networks at every stage. Our strong brands,
such as Benecol® and Elovena®, turn our ambitions into reality. Through our
responsibility work, we make the hard choices for consumers, so that they can
choose Raisio products with confidence. We have around 350 healthy food
colleagues in seven countries and export to more than 40 markets around the
world. Raisio's shares are listed on Nasdaq Helsinki Ltd. In 2024, the Group's
comparable net sales for continuing operations were EUR 226.8 million and the
comparable EBIT was EUR 23.4 million. www.raisio.com