Raisio plc, Financial statements bulletin 2015

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Raisio plc      Financial Statements Bulletin 15 February 2016

RAISIO PLC, FINANCIAL STATEMENTS BULLETIN 2015

January-December 2015 excluding one-off items

  • The Group’s EBIT excluding one-off items improved by 48% and was EUR 51.7 million (EUR 34.8 million in 2014) accounting for 9.9% (7.0%) of net sales.
  • The Brands Division’s EBIT excluding one-off items was EUR 55.4 million (EUR 35.9 million) accounting for 14.4% (11.7%) of net sales.
  • Raisioagro’s EBIT excluding one-off items was EUR 2.8 million (EUR 3.4 million).
  • The Group’s net sales totalled EUR 521.2 million (EUR 493.9 million).
  • Cash flow from operations was EUR 65.0 million (EUR 26.2 million)
  • The Board’s dividend proposal is EUR 0.16 (EUR 0.14) per share, +14%.

October-December 2015 excluding one-off items

  • The Group’s EBIT excluding one-off items was EUR 12.0 million (Q4/2014: EUR 8.9 million), accounting for 9.8% (7.6%) of net sales.
  • The Brands Division’s EBIT excluding one-off items was EUR 13.9 million (EUR 10.6 million), accounting for 14.3% (12.5%) of net sales.
  • Raisioagro’s EBIT excluding one-off items was EUR 0.0 million (EUR 0.0 million).
  • The Group’s net sales totalled EUR 122.7 million (EUR 117.8 million).

Raisio Group’s key figures

    Q4
2015
Q4/ 2014 Q3/ 2015 Q2/ 2015 Q1
2015
2015  
2014
Result                
Net sales M€ 122.7 117.8 134.5 141.5 122.5 521.2 493.9
Change in net sales % 4.2 -10.2 5.9 6.8 5.0 5.5 -11.4
EBIT M€ 5.7 -7.2 16.0 11.1 9.6 42.4 6.9
EBIT, excluding one-off items M€ 12.0 8.9 16.0 14.0 9.6 51.7 34.8
EBIT, excluding one-off items % 9.8 7.6 11.9 9.9 7.9 9.9 7.0
Depreciation and impairment M€ 7.1 15.4 3.5 6.9 3.6 21.1 32.9
Depreciation and impairment, excluding one-off items M€ 3.5 3.4 3.5 5.9 3.6 16.5 14.6
EBITDA M€ 12.8 8.3 19.5 18.0 13.2 63.6 39.8
EBITDA
excluding one-off items
M€ 15.4 12.3 19.5 20.0 13.2 68.1 49.5
Financial items M€ -1.0 -1.0 -0.7 -0.4 -0.5 -2.5 -1.5
Earnings per share (EPS) 0.04 -0.04 0.08 0.05 0.05 0.22 0.04
Earnings per share (EPS)
excluding one-off items
0.06 0.05 0.08 0.07 0.05 0.26 0.18
Balance sheet                
Equity ratio % - - - - - 62.3 60.2
Gearing % -   - - - 12.1 22.2
Net interest-bearing debt M€ - - - - - 42.2 72.2
Equity per share - - - - - 2.23 2.07
Dividend per share - - - - - 0.16* 0.14
Investments** M€ 3.3 90.7 2.6 3.0 2.1 11.0 104.9

 

* Board of Directors’ proposal to the Annual General Meeting

** Including acquisitions

Figures for the comparison period are given in brackets. The financial statements review has not been audited.

CHIEF EXECUTIVE’S REVIEW FOR 2015

“Raisio achieved EBIT of EUR 51.7 million excluding one-off items in 2015. At the same time, the Group’s EBIT margin excluding one-off items rose to 9.9 per cent. EBIT improved by nearly 17 million euros and EBIT margin by almost three percentage points, which is a strong performance in a difficult market situation.

Good results together with efficient net working capital management ensured operating cash flow of EUR 65 million.

The key factor in Raisio’s profit improvement was the acquisition of Benecol consumer product business in the UK, Ireland and Belgium in November 2014. The largest market for Benecol products is the UK, where Raisio increased its marketing efforts according to plan and, as a result, Benecol product sales turned into organic growth. The growth is expected to continue this year.

At the end of 2015, Benemilk had its first Primafat order. Benemilk is no longer a pre-revenue company. In addition, the first patents were obtained in 2015."

OUTLOOK 2016

Despite the weakened visibility and difficult market conditions, Raisio expects its 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

 

Raisio’s financial reviews in 2016

  • Raisio’s Online Annual Report 2015 will be published in week 10 at www.raisio.com
  • Interim Report January-March on 10 May 2016
  • Interim Report January-June on 10 August 2016
  • Interim Report January-September on 9 November 2016

 

 

 

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. Raisio’s turnover in 2015 was EUR 521 million. The Group employs some 1,800 people. Raisio’s best-known brands are Benecol, Benemilk, Elovena Honey Monster, 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