Raisio’s record EBIT

Raisio plc      Interim Report 5 November 2013 at 8:30 Finnish time

RAISIO’S RECORD EBIT

July-September 2013, continuing operations

• Group net sales totalled EUR 149.5 million (Q3/2012: EUR 161.0 million).
• Group’s EBIT excluding one-off items was EUR 12.0 million (Q3/2012: EUR 10.7 million)
  accounting for 8.0% (6.6%) of net sales.
• Brands Division’s EBIT excluding one-off items was EUR 10.8 million (EUR 9.7 million)
  accounting for 14.8% (11.3%) of net sales.
• Raisioagro’s EBIT more than doubled from the comparison period totalling EUR 2.6 (1.2) million.
• Cash flow from business operations was positive totalling EUR 38.1 million.

January-September 2013, continuing operations
Group net sales totalled EUR 426.4 million (Q1-Q3/2012: EUR 446.6 million).

• Group’s EBIT excluding one-off items was EUR 31.0 million (Q1-Q3/2012: EUR 28.0 million) accounting for 7.3% (6.3%) of net sales.
• Brands Division’s EBIT excluding one-off items was EUR 31.3 million (EUR 29.7 million) accounting for 13.8% (11.8%) of net sales.
• Raisioagro’s EBIT was EUR 3.3 million (EUR -0.2 million).

Raisio Group’s key figures excluding one-off items

*                     Including acquisitions

**                   Excluding the company shares held by the Group

CEO Matti Rihko’s review

“The Group’s EBIT rose to EUR 12.0 million, which is the current Raisio’s all-time best quarterly result. Market conditions in all our operations are challenging and it is a great accomplishment to maintain margins in a rapidly changing environment as the eurozone economy keeps contracting.

Successful fish feed season and Benemilk feeds were driving Raisioagro’s good performance. Raisioagro’s EBIT more than doubled from the same time period last year totalling EUR 2.6 million.  Good performance shows that our customers trust us and that our product range meets their needs in a highly competitive Finnish feed market. We have been looking for new solutions for the oil milling industry to secure the profitability and future of the business as the EU decisions undermine the operating conditions. At the end of October, Raisio decided to continue its vegetable oil operations, but to lay off the plant personnel until further notice in early 2014.

International commercialisation of the Benemilk invention is one of Raisio’s most important objectives at the moment. Our cooperation with Intellectual Ventures, the world leader in intellectual property rights, is progressing well as expected. The number of patent applications filed by Benemilk Oy, a joint venture of Raisio and IV, is expected to rise above 50. In addition, the same number of patentable inventions related to the Benemilk innovation have been decided to be kept confidential for the time being. The Benemilk innovation involves extremely strong IPR expertise, which is also a significant benefit when negotiating with potential license partners.

Rest of the year, we will focus especially on our breakfast and snacks operations in the UK. During the past year, in addition to Raisioagro, improvement efforts focused on Northern European operations that now show improved performance on a monthly basis as a result of the changes and reorganisation carried out.”

Guidance unchanged

Raisio continues to expect solid improvement in EBIT over 2012. The Group’s net sales are estimated to be slightly lower than last year.

RAISIO PLC
Heidi Hirvonen
Communications and IR Manager
Tel. +358 50 567 3060

Further information:
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

A press and analyst event in Finnish will be arranged on Tuesday 5 November 2013 at 1:30 p.m. Finnish time in Helsinki. It will be held at Hotel Scandic Simonkenttä, in the Espa 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 2012, the Group's net sales totalled EUR 584 million and EBIT was EUR 35 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.

Distribution
NASDAQ OMX
Key media
www.raisio.com