Raisio plc: Raisio revising its 2017 outlook
Raisio plc, Stock Exchange Release, 21 July 2017 at 8:30 a.m. Finnish time
RAISIO REVISING ITS 2017 OUTLOOK
Raisio plc revises its outlook for 2017 and expects its comparable EBIT to total approximately EUR 45 million. The outlook is revised due to prolonged production and commercial challenges of the UK confectionery business, lower than estimated profitability and the weakening of the pound against the euro. Work to solve the production and commercial challenges is underway.
In the outlook reported in February 2017, Raisio expected its 2017 comparable EBIT to remain slightly lower than that of 2016. In addition, the company said that exchange rates continue to have a significant impact on the Group's net sales and EBIT. Raisio’s comparable EBIT for the financial year 2016 totalled EUR 50.7 million.
As defined in its renewed strategy, Raisio continues to invest in brands, product concepts, sales and marketing, and to enhance its operations as well as expand into new markets in Europe. This will create a basis for growth and success in the coming years.
Raisio will release its Half-Year Report for January-June on Wednesday, 9 August 2017.
Communications and IR Manager
Tel.+358 50 567 3060
CEO Jarmo Puputti, tel. +358 50 352 8740 and
CFO Antti Elevuori, tel. +358 40 560 4148
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