Growth in sales already for six consecutive quarters, strong profitability under difficult conditions
FINANCIAL DEVELOPMENT IN BRIEF
July-
- The Group's net sales totalled
EUR 56.5 (50.8) million, which signified a growth of 11.2%. -
Comparable EBIT was
EUR 6.5 (6.7) million, accounting for 11.4 (13.2)% of net sales. Comparable EBIT decreased by 4.0% in relation to the comparison period. -
EBIT was
EUR 6.2 * (6.7) million, which accounted for 10.9 (13.2)% of net sales. -
The Healthy Food Segment's net sales totalled
EUR 36.7 (34.0) million. Comparable EBIT wasEUR 6.6 (5.3) million, accounting for 18.1 (15.4)% of net sales. EBIT wasEUR 6.6 (5.3) million, which accounted for 18.1 (15.4)% of net sales. -
The Healthy Ingredients Segment's net sales totalled
EUR 29.6 (25.3) million. Comparable EBIT wasEUR 0.2 (1.7) million, accounting for 0.7 (6.8)% of net sales. EBIT wasEUR 0.2 (1.7) million, which accounted for 0.7 (6.8)% of net sales. -
The Group's cash flow from continuing operations after financial items and taxes totalled
EUR 0.9 (6.6) million. -
The overall effect of currency conversions was
EUR -0.2 (0.7) million on net sales,EUR 0.0 (0.1) million on the comparable EBIT andEUR 0.0 (0.1) million on EBIT.
* EBIT includes a total of
January-
- The Group's net sales totalled
EUR 165.2 (146.3) million, which signified a growth of 13.0%. -
Comparable EBIT was
EUR 12.3 *** (16.3) million, accounting for 7.5 (11.2)% of net sales. Comparable EBIT decreased by 24.5% in relation to the comparison period. -
EBIT was
EUR 12.0 * (15.6**) million, accounting for 7.3 (10.7)% of net sales. -
The Healthy Food Segment's net sales totalled
EUR 107.4 (99.1) million. Comparable EBIT wasEUR 13.4 (13.8) million, accounting for 12.5 (13.9)% of net sales. EBIT wasEUR 13.4 (13.6) million, which accounted for 12.5 (13.7)% of net sales. -
The Healthy Ingredients Segment's net sales totalled
EUR 86.6 (70.0) million. Comparable EBIT wasEUR 1.6 (4.7) million, accounting for 1.9 (6.7)% of net sales. EBIT wasEUR 1.6 (4.1) million, which accounted for 1.9 (5.9)% of net sales. -
The Group's cash flow from continuing operations after financial items and taxes totalled
EUR -0.5 (19.2) million. - The comparable return on investments (ROIC) was 4.4 (8.3)% and the return on investments (ROIC) was 4.3 (7.9)%.
-
The overall effect of currency conversions was
EUR 0.8 (-0.2) million on net sales,EUR 0.1 (0.1) million on comparable EBIT andEUR 0.1 (0.1) million on EBIT.
* EBIT includes a total of
**EBIT of the comparison period includes
***The comparable EBIT for the review period includes a return of
KEY FIGURES OF THE GROUP, continuing operations
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| 7-9/2022 | 7-9/2021 | 1-9/2022 | 1-9/2021 | 1-12/2021 |
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Net sales | ME | 56.5 | 50.8 | 165.2 | 146.3 | 200.0 |
Change in net sales | % | 11.2 | 14.5 | 13.0 | 6.2 | 7.7 |
Comparable EBITDA | ME | 8.9 | 8.9 | 19.8 | 21.5 | 28.8 |
EBITDA | ME | 8.7 | 8.9 | 19.5 | 20.8 | 27.8 |
Comparable EBIT | ME | 6.5 | 6.7 | 12.3 | 16.3 | 21.3 |
Comparable EBIT of net sales | % | 11.4 | 13.2 | 7.5 | 11.2 | 10.6 |
EBIT | ME | 6.2 | 6.7 | 12.0 | 15.6 | 20.2 |
EBIT of net sales | % | 10.9 | 13.2 | 7.3 | 10.7 | 10.1 |
Comparable earnings per share | E | 0.03 | 0.03 | 0.05 | 0.09 | 0.12 |
Earnings per share | E | 0.03 | 0.03 | 0.05 | 0.08 | 0.11 |
CEO PEKKA KUUSNIEMI:
This year of completely exceptional conditions showed Raisio's ability to rapidly recover its profit-making capacity. Manufacturing costs, which increased in an unprecedented manner, were incorporated as quickly as possible into sales prices. Inflation tried the purchasing power of consumers and will surely impact on consumption habits. The trend of eating at home will increase and consumers will pay ever more attention to prices while still putting their trust in strong and well-known brands. The harvest season has proven to be better than average in terms of both quantity and quality, and this is highly significant for both Raisio and the entire Finnish food system.
The Group's net sales during the third quarter totalled
Comparable EBIT was
Our long-term work to advance responsibility will also contribute to a positive result. Significant part of energy used in our own production facilities is produced by using biofuels. This is an excellent advantage within the prevailing conditions. All of Raisio's own production facilities are currently carbon-neutral. Investments remained lower during the review period, as planned, and now we are focusing on taking advantage of our new capabilities and the marketing of new product innovations. Due to the uncertainty caused by the operating environment, we have prepared for different types of supply disruptions and the increase in working capital is visible in our cash flow. When shifting from the previous harvest season to the new one, grain availability was low. In September we procured a lot of grain from the new harvest season. The cash flow from continuing operations after financial items and taxes totalled
Raisioaqua, which was reported as discontinued operations at the start of the summer, has performed a lot better than anticipated. Projects aimed at developing operations, which were initiated already last autumn, as well as price increases that were realised during the season and customers' loyalty to this innovative, Finnish fish feed manufacturer have made it possible to achieve net sales of more than
This challenging time has demanded and will continue to demand a great deal from the personnel. A large number of Raisio employees contribute actively to the realisation of our strategy and all our efforts are moving us in a clear direction. The restlessness in the operational environment has shaken the foundations of the food system, but consistent and focused work will inevitably bear fruit. My thanks to the entire personnel for a job well done.
OUTLOOK 2022
Raisio's guidelines, published on
In Raisio,
Board of Directors
Further information:
Pekka Kuusniemi, CEO, tel. +358 50 537 3883
The information in this Interim Report is unaudited.
The Finnish-language webcast concerning the Q3 result will take place at 12 noon on
Raisio's Financial Statement release for 2022 will be published on 08/02/2023.
At Raisio, we make food from the heart, with the aim of bringing health to ourselves and the Earth. We keep creating better plant-based and heart-healthy products so that eating healthily and within the Earth's ecological capacity can be a pleasure. Our strong brands, such as Benecol®, Beanit®, Härkis® and Elovena®, turn our ambitions into reality. Through our responsibility work, we make the hard choices for consumers, so that they can choose Raisio products with confidence. We have around 380 healthy food colleagues in seven countries and export to more than 40 markets around the world. Raisio's shares are listed on
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