Raisio’s EBIT EUR 12.1 million
Raisio plc Interim Report 4 November 2014 at 8:30 Finnish time
RAISIO’S EBIT EUR 12.1 MILLION
July-September 2014 excluding one-off items
- The Group EBIT was EUR 12.1 (12.0) million, accounting for 9.5 (8.0)% of net sales.
- The Brands Division’s EBIT totalled EUR 10.8 (10.8) million, accounting for 14.2 (14.8)% of net sales.
- Raisioagro’s EBIT was EUR 2.0 (2.6) million, accounting for 3.7 (3.4)% of net sales.
- The Group net sales totalled EUR 126.9 (149.5) million.
January-September 2014 excluding one-off items
- The Group EBIT was EUR 25.9 (31.0) million, accounting for 6.9 (7.3)% of net sales.
- The Brands Division’s EBIT totalled EUR 25.3 (31.3) million, accounting for 11.4 (13.8)% of net sales.
- Raisioagro’s EBIT was EUR 3.4 (3.3) million accounting for 2.1 (1.7)% of net sales.
- The Group net sales totalled EUR 376.1 (426.4) million.
Raisio Group’s key figures excluding one-off items
| 7-9/ |
| 7-9/ |
|1-9/ 2014|| 1-9/ |
| 1-12/ |
|Change in net sales||%||-15.1||-7.1||-11.8||-4.5||-4.5|
|Depreciation and impairment||M€||3.8||3.7||11.3||11.2||14.9|
|Net financial expenses||M€||-0.3||-0.2||-0.6||-1.4||-1.8|
|Earnings per share (EPS)||€||0.06||0.06||0.13||0.15||0.20|
|Net interest-bearing debt||M€||-||-||0.3||-8.4||-28.5|
|Equity per share||€||-||-||2.10||2.10||2.13|
|Enterprise value (EV)||M€||-||-||599.6||656.5||654.6|
* Excluding the company shares held by the Group
CEO Matti Rihko’s review
“The Group’s EBIT rose to 12.1 million euros, which was slightly higher than in the comparison period; EBIT improved by 3.6 million euros from the second quarter. This is a good performance in challenging market conditions given that our businesses are not in identical situations.
The Brands Division’s strong areas further improved their performance and our UK’s cereals and snacks business returned to profit. Service level of the extended Newport snack bar factory has continued to improve but is still not at its normal level. Sales volume in Honey Monster cereals has levelled off after the earlier decrease. We are now on the right track but there is still much work to be done to achieve profitability levels and sales consistent with our objectives.
Import restrictions imposed by Russia do not currently apply to Raisio’s products. Weakening of the rouble has been compensated by price rises without a decrease in volumes. Raisio’s most important export products are Nordic flakes and feeds for fish and cattle. We started the export of Benemilk feeds to St.Petersburg area in August. Northwest Russia is the first market outside Finland for our Benemilk feeds. Raisioagro will continue to focus on increasing the exports of feeds. As part of an extensive restructuring of Raisioagro’s activities, the Division’s net sales decreased as planned and at the same time, the relative profitability of the business improved.
The number of commercial negotiations for the international commercialisation of the Benemilk innovation has increased and this work is proceeding as expected.”
Raisio estimates its EBIT for 2014 to remain below the level of 2013.
Communications and IR Manager
tel. +358 50 567 3060
Matti Rihko, CEO, tel. +358 400 830 727
Jyrki Paappa, CFO, tel. +358 50 556 6512
Heidi Hirvonen, Communications and IR Manager, tel. +358 50 567 3060
An analyst event in Finnish will be arranged on Tuesday 4 November 2014 at 1:30 p.m. Finnish time in Helsinki. It will be held at Hotel Scandic Simonkenttä, in the Pavilion meeting room. The address is Simonkatu 9, Helsinki.
Chief Executive’s video in English will be made available http://www.raisio.com/www/page/8133
Raisio Group briefly
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, Ukraine, Poland, Estonia and Sweden. Raisio plc’s shares are listed on NASDAQ OMX Helsinki Ltd. In 2013, the Group's net sales totalled EUR 558 million and EBIT was EUR 39 million. The Group employs some 1,900 people. Raisio’s best-known brands are Benecol, Honey Monster, Elovena, Fox’s, Dormen, Juicee Gummee, Poppets and Benemilk.