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Raisio to classify its fish feed business as assets held for sale and to report the business as discontinued operations

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Stock exchange release 31 May 2022 at 9:30 EET

 

In March 2022, Raisio plc suspended all exports to Russia, including the exports of Raisioaqua Ltd, which is part of Raisio Group. The exports of Raisioaqua’s products to Russia totalled approximately 65 per cent of Raisioaqua’s net sales in 2021, which has now been lost due to the suspension of exports. In other markets, Raisioaqua’s business will be developed normally and determined measures for replacing the lost net sales and reducing costs are already underway. At the moment, Raisioaqua’s net sales for 2022 are estimated to amount to approximately EUR 21 million.

Raisio focuses on healthy food products and ingredients, and the fish feed business is not a core business segment for Raisio and it is not in the core of strategic focus areas. Raisio has now initiated proceedings to sell Raisioaqua Ltd. Raisio aims to have the Raisioaqua arrangement concluded within the 2022 financial period.

Raisio will report Raisioaqua as discontinued operation in Q2 2022 report. This business has been previously reported in Healthy Ingredients segment.

On 29 April 2022, Raisio announced that it will recognise an impairment loss of EUR 4.1 million on Raisioaqua’s fixed assets in its EBIT for the first quarter, caused by the end of export opportunities in the Russian market.

Further information:
Pekka Kuusniemi, CEO, tel. +358 50 537 3883
Mika Saarinen, CFO, tel. +358 40 072 6808

 

RAISIO PLC
Raisio’s purpose is to make food which is good for Health, Heart and Earth. Our growth drivers and focus areas are Benecol® and plant stanol ester solutions, plant based foods, branded oat products for consumers and oat as raw material for industry. Our strong brands include for example, Benecol®, Beanit®, Elovena®, Sunnuntai®, Torino® and Benella®. In our products the focus is on well-being, health, good taste and responsibility. Raisio's values − courage, fairness and drive − guide us towards our targets. Raisio’s shares are listed on Nasdaq Helsinki Ltd. In 2021, the Group’s net sales totaled EUR 246 million and comparable EBIT was EUR 22 million. Raisio employs about 400 people. www.raisio.com.

 

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