Raisio Achieves Solid Financial Growth in 2011

Feb 14 2012 --- Raisio’s net sales increased +31%. The Group’s net sales from continuing operations totalled EUR 552.6 million (EUR 423.6 million in 2010).

 

Earnings (before interest and tax) increased +66%. EBIT excluding one-off items was EUR 31.8 million (EUR 19.2 million) accounting for 5.8% (4.5%) of net sales. There was good profitability for the company’s Brands Division. EBIT was 9.9% of net sales. Simpli OatShake was awarded as the Best Smoothie of 2011 by the US beverage industry. Simpli OatShake was the second ever European winner.

 

Raisioagro’s profitability improved. EBIT was EUR 2.9 million. Cash flow from operations was EUR 50.0 million (EUR 23.0 million).

 

After the acquisition of Big Bear Group, Raisio was again a net debt free company in the third quarter of 2011.

 

The company’s CEO Matti Rihko said: “Over the last five years, Raisio has undergone a major transformation successfully. The loss-making company has grown into the most profitable and international listed food company in Finland.

 

“Raisio has shown stable improvement in results although our operating environment has been changing. I think this steady improvement in the constantly changing environment shows that we have chosen the right path and been able to implement our strategy successfully. EBIT percentage of net sales measuring profitability of our Brands Division bears comparison even with large multinational food companies.

 

“It is also time to look ahead. The green economy is growing into serious business and will also be the next opportunity for Finnish national economy. Bioeconomy is an opportunity for us too; Raisio has already years been a forerunner in ecology and an active developer of Finnish food chain. The green economy provides ample opportunities for innovation. Raisio is one of the key Finnish operators that has already created profitable business in this field - and this is just the beginning.”