Published: 2017-05-10 07:30:00 CEST
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


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).



“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
Net sales M€ 92.5 114.0 436.3
Change in net sales % -18.9 -6.9 -16.3
EBIT M€ 9.6 9.7 28.9
  EBIT % 10.4 8.5 6.6
Items affecting comparability M€ 0.9 0.0 21.8
Comparable EBIT M€ 10.6 9.7 50.7
  Comparable EBIT % 11.4 8.5 11.6
  - Depreciations M€ -2.6 -3.1 -11.3
  - Impairment M€ 0.0 0.0 -16.1
Depreciations and impairment, in total M€ -2.6 -3.1 -27.4
Items affecting comparable depreciations and impairment M€ 0.0 0.0 16.1
Comparable depreciations and impairment M€ -2.6 -3.1 -11.3
EBITDA M€ 12.2 12.7 56.3
Items affecting comparable EBITDA M€ 0.9 0.0 5.7
Comparable EBITDA M€ 13.1 12.7 62.0
Financial items M€ 0.0 -0.9 -2.2
Earnings per share (EPS) 0.05 0.05 0.12
Comparable earnings per share (EPS) 0.05 0.05 0.25
Balance sheet        
Equity ratio % 66.6 58.7 66.8
Gearing % 17.3 14.7 8.5
Net interest-bearing debt M€ 50.9 46.6 26.7
Equity per share 1.86 2.02 1.99
Investments M€ 3.9 4.0 18.3



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.


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

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



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