RAISIO PLC 
Highlights:
Divided half of the year
ECONOMIC DEVELOPMENT IN BRIEF
April-
The Group's net sales were
Operating profit was
The Healthy Ingredients segment's net sales were
The Group's cash flow from operating activities after financial items and taxes was
January-
The Group's net sales were
Operating profit was
The Healthy Ingredients segment's net sales were
The ROIC was 9.8% (14.8%).
The Group's cash flow from operating activities after financial items and taxes was
Raisio deletes its 2020 guidelines
KEY GROUP
4-6 / 2020 4-6 / 2019 1-6 / 2020 1-6 / 2019 1-12 / 2019
Net sales M
Change in net sales% -4.5 4.9 1.8 2.8 3.5
Operating profit M
Operating profit from net sales% 11.6 11.6 11.8 10.9 11.5
EBITDA M
Earnings per share
CEO
Raisio's first half of the year was full of rapid, and in some cases surprising, changes. In March, the violent hoarding caused by the pandemic caused a sudden spike in demand that continued for a few weeks. At that time, demand was particularly focused on well-preserved foods, which are quite abundant in Raisio's portfolio. In the second quarter, demand leveled off rapidly and there were significant differences between months, both in terms of volumes and between different markets.
The main changes in demand in the Finnish market were the almost total stagnation in the Foodservice channel and the significant decline in demand for so-called 'on the go' products, such as Elovena snack biscuits and beverages, for understandable reasons. The opening hours, operations or movement of consumers in grocery stores were practically not restricted at all and therefore the changes as a whole were relatively small in the spring.
In contrast, strong restrictive measures in the
As expected, Raisioaqua's significantly higher advance sales in the early spring taxed second-quarter revenue, as conditions in the rearing season changed directly from cold spring to hot June, and consumption of fish feed delivered before the start of the season did not start as expected.
Due to very exceptional circumstances, net sales in the second quarter decreased compared to the comparison period, amounting to
Raisio's investments are growing strongly as we implement projects that support our strategy. The most significant of these is the investment in a plant-based value-added product development and production facility, which has progressed fully according to plan. So far, the state of emergency has not caused any delays for the project. Investments in the first half of the year totaled
As exceptional circumstances continue, we have been able to work effectively with major trade groups, actively utilizing demand information. Preparations for a possible second wave and its sudden effects on consumer demand have also been made together. Visibility in terms of autumn demand is very limited and unpredictable. As a result, we have removed our guidance for the rest of 2020 for the time being.
Our staff has been operating in very exceptional circumstances throughout the first half of the year. Despite this, our delivery capacity has remained at a good level all the time and teleworking has been smooth. Operational work or building the future has not suffered much in terms of internal operations. My warm thanks to all the staff for a job well done during the ongoing period of exception.
OUTLOOK FOR 2020
On
Raisio's previous instructions 12.2.2020:
In 2020, Raisio estimates that net sales from continuing operations will increase (2019:
Raisio will issue new guidelines if visibility improves and general uncertainty disappears.
Raisio will continue to invest in brands, research and development and in-house production in the company's most important product categories.
Raisio on
Government
For more information:
President and CEO
CFO
The information in the half-year report is unaudited. Raisio will publish its interim report for the third quarter of 2020 on
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