Retained profitability in the midst of a pandemic
FINANCIAL DEVELOPMENT IN BRIEF
July-September 2020
· The Group's net sales totalled
· EBIT was
-8.4% in relation to the comparison period.
· The Healthy Food Segment's net sales totalled
· The Healthy Ingredients Segment's net sales totalled
· The Group's cash flow from business operations after financial items and taxes totalled
January-September 2020
· The Group's net sales totalled
· EBIT was
· The Healthy Food Segment's net sales totalled
· The Healthy Ingredients Segment's net sales totalled
· The return on investments (ROIC) was 11.8 (16.3)%.
· The Group's cash flow from business operations after financial items and taxes totalled
OUTLOOK 2020
Raisio withdrew its guidance for 2020 on
Raisio's new guidance: In 2020, Raisio expects its net sales for continuing operations to fall ca. -3% (net sales 2019:
Raisio's previous guidance: In 2020, Raisio expects its net sales for continuing operations to grow (2019:
KEY FIGURES OF THE GROUP
7-9/2020 7-9/2019 1-9/2020 1-9/2019 1-12/2019
Net sales M€ 65.1 69.2 179.7 181.8 236.3
Change in net sales % -6.0 9.7 -1.2 5.3 3.5
EBIT M€ 9.8 10.7 23.3 23.0 27.3
EBIT of net sales % 15.0 15.5 13.0 12.6 11.5
EBITDA M€ 11.3 12.3 28.0 27.8 33.6
Earnings per share € 0.05 0.06 0.11 0.14 0.16
PRESIDENT AND CEO
Raisio's third quarter was characterised by adjustments to the second, rising wave of the ongoing pandemic. Demand for our consumer products fluctuated strongly between the different markets, while the performance of the Healthy Ingredients Segment was steadier and corresponded more as anticipated. As a whole, the period was marked by weak predictability. New lockdown measures were being planned and implemented widely within our market areas as we approached the end of the quarter. Societies, consumers and business life are still growing accustomed to today's new normal.
In these conditions, we continued to focus on our core activities, which include the securing of production and operations, the provision of service to our customers and support for the maintenance of our personnel's work ability. We cannot choose our operating environment or affect currency movements, but we can demonstrate our capacity to be flexible, to manage our cost structure and to continue to pursue our strategy with confidence. We succeeded commendably in realising these tasks. It is reflected in our ability to sustain exceptional profitability and to look to the future with determination and assurance.
Development within the Finnish consumer market was extremely strong, as it has been throughout this entire year. We continued to see dynamic growth within our key brands and we were able to launch more new products under these brands. Consumer products returned to a growth path and this included also our Elovena snack products, which suffered early in the year as a result of the self-isolating trend caused by the pandemic.
The heavy restrictions in Western European market, particularly in the
During the third quarter, Raisioaqua's sales were significantly lower than during the comparison period. The new export markets in
Raisio has recently undertaken significant investments. One of Raisio's strategic goals is to establish value-added oats as the other strong pillar of the company alongside its Benecol business. The modernisation of the Nokia oat mill, which was completed at the start of this year, has demonstrated its vital role as a contributor to Raisio's future growth. The sales of value-added oats, both in
Due to the extended period of exceptional circumstances, the net sales for the third quarter decreased clearly in relation to the comparison period to
In Raisio, 4 November 2020
Raisio Plc
Board of Directors
Further information:
Pekka Kuusniemi, President and CEO, tel. +358 (0)50 537 3883
The information in this Interim Report is unaudited.
Raisio's Financial Statement release for 2020 will be published on
Raisio is an international company specialized in healthy, responsibly produced food, ingredients and fish feeds. Our well-known brands include, for example, Benecol, Elovena, Sunnuntai,
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