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Financial review

Raisio Group is an international food and feed company with solid profitability. Raisio is a net debt free company. In addition to organic growth, Raisio also seeks growth through acquisitions that suit its core business, i.e healthy foods.

Key figures 2017

  • Net sales for continuing operations totalled EUR 306.8 (336.6) million.
  • The comparable EBIT for continuing operations was EUR 37.8 (38.6) million, accounting for 12.3 (11.5) per cent of net sales.
  • Net sales for continuing and discontinued operations totalled EUR 402.8 (436.3) million.
  • The comparable EBIT for continuing and discontinued operations was EUR 45.9 (50.7) million, accounting for 11.4 (11.6) per cent of net sales.
  • The Board’s dividend proposal is EUR 0.17 per share.

Main events in 2017

  • Raisio divested its confectionery business in December 2017. The business is treated as a discontinued operation in the financial statements.
  • Raisio is a net debt free company with net cash of EUR 105 million at the end of 2017.
  • In June 2017, Raisio divested its Southall industrial property near London at about EUR 40 million.
  • In Finland, sales in Elovena and Benecol products increased by some 10 per cent.
  • Fish feed exports to Russia increased by 30 per cent.
  • Benecol’s EBIT was significantly down from the comparison period as increased costs could not fully be passed on to the end product prices.
  • In January 2018, Raisio announced to consider the divestment of its cattle and fish feed businesses as one strategic alternative. Negotiations with several operators have been initiated.

Raisio Group's key figures

Continuing and discontinued operations

      2017     2016  
    Continuing Discontinued Total Continuing Discontinued Total
Income statement              
Net sales M€ 306.8 96.0 402.8 336.6 99.7 436.3
Change in net sales % -8.8 -3.7 -7.7 -19.2 -4.8 -16.3
Comparable EBIT M€ 37.8 8.1 45.9 38.6 12.1 50.7
Comparable EBIT % 12.3 8.4 11.4 11.5 12.2 11.6
EBIT M€ 55.9 -59.2 -3.2 16.8 12.1 28.9
EBIT % 18.2 -61.7 -0.8 5.0 12.2 6.6
Comparable EBITDA M€ 45.9 11.1 57.0 46.8 15.2 62.0
EBITDA M€ 71.8 -27.4 44.4 41.1 15.2 56.3
Financial income and expenses M€ -1.4 -0.3 -1.7 -2.1 -0.1 -2.2
Comparable earnings per share 0.18 0.04 0.22 0.19 0.06 0.25
Earnings per share 0.27 -0.38 -0.11 0.06 0.06 0.12
Balance sheet              
Equity ratio % 73.4 - - 66.8 - -
Net gearing % -39.8 - - 8.5 - -
Net interest-bearing debt M€ -105.1 - - 26.7 - -
Equity per share 1.68 - - 1.99 - -
Dividend per share - - 0.17* - - 0.17
Investments M€ 10.4 5.4 15.8 13.3 5.2 18.6

*Board of Directors' proposal to the Annual General Meeting

Raisio Group's key figures

Continuing and discontinued operations, total

    2017 2016
Income statement      
Net sales M€ 402.8 436.3
Change in net sales % -7.7 -16.3
Comparable EBIT M€ 45.9 50.7
Comparable EBIT % 11.4 11.6
EBIT M€ -3.2 28.9
EBIT % -0.8 6.6
Comparable EBITDA M€ 57.0 62.0
EBITDA M€ 44.4 56.3
Financial income and expenses M€ -1.7 -2.2
Comparable earnings per share 0.22 0.25
Earnings per share -0.11 0.12
Balance sheet      
Equity ratio % - -
Net gearing % - -
Net interest-bearing debt M€ - -
Equity per share - -
Dividend per share 0.17* 0.17
Investments M€ 15.8 18.6

*Board of Directors' proposal to the Annual General Meeting