Raisio Announced Improved Results
16 Aug 2013 --- The second-quarter 2013 EBIT was current Raisio's all-time best quarterly result. Improved result in the economically challenging times and rapidly changing markets requires commitment and strong expertise from all of us at Raisio.
April-June 2013, continuing operations
- Group net sales totalled EUR 148.6 million (Q2/2012: EUR 150.6 million).
- Group EBIT excluding one-off items was EUR 11.0 million (Q2/2012: EUR 10.6 million) accounting for 7.4% (7.1%) of net sales.
- Brands Division’s profitability improved, EBIT 14.2% (12.8%) of net sales.
- Raisioagro’s EBIT was clearly positive.
- Raisio’s 2013 EBIT guidance remains unchanged. Due to the lower market price level of grains and oilseeds, net sales forecast has been lowered.
January-June 2013, continuing operations
- Group net sales totalled EUR 276.9 million (H1/2012: EUR 285.6 million).
- Group EBIT excluding one-off items was EUR 19.0 million (H1/2012: EUR 17.3 million) accounting for 6.9% (6.1%) of net sales.
- Brands Division’s profitability was good, EBIT 13.4% (12.0%) of net sales.
- Raisioagro’s EBIT improved more than EUR 2 million from the comparison period.
CEO Matti Rihko’s review
“The second-quarter 2013 EBIT was current Raisio's all-time best quarterly result. Improved result in the economically challenging times and rapidly changing markets requires commitment and strong expertise from all of us at Raisio.
Moreover, Raisioagro’s clear profit improvement was very positive. In the extremely competitive Finnish feed and farming supplies market, this achievement is the result of hard work. Our Benemilk feeds are well established in the Finnish market and in the autumn, we are going to expand Benemilk’s product range and customer potential. Several international operators have also shown interest in the Benemilk feeds.
Co-operation between Raisio and Intellectual Ventures is proceeding well, as expected. Our scientific co-operation during the second quarter spawned a significant amount of inventions strengthening and further developing Benemilk concept. We are filing patent applications for some of these inventions. After the review period, Raisio announced that Benemilk patent process is proceeding on schedule as certain initial Benemilk-related patent applications became public on 1 August 2013. Benemilk Oy has filed a total of 10 new international patent applications related to the Benemilk invention by 31 July 2013. New patent applications will complement the already pending applications filed in early 2012. Benemilk Oy also has plans to file further patent applications by the end of 2013. This could potentially double the number of patent applications.”
EBIT guidance unchanged
Raisio continues to expect solid improvement in EBIT over 2012. In the next harvest season, grain and oilseed price levels appear to remain at lower levels than in the comparison year, which directly affects particularly Raisioagro’s net sales. The Group’s net sales are estimated to be slightly lower than last year.
Guidance for 2013 given in the Financial Statements Bulletin 2012
Raisio anticipates moderate net sales growth and expects solid improvements in EBIT over 2012.
