Raisio Issue Negative Guidance
Results for the first quarter being clearly weaker than in the comparison period. The operating result for the first quarter is approximately EUR 1.5 million in the red.
19/04/06 Finnish based Raisio has issued a warning for its upcoming financial statements, with the result for the first quarter being clearly weaker than in the comparison period. The operating result for the first quarter is approximately EUR 1.5 million in the red.
Raisio has reported that in order to develop the operations and the performance of Raisio the organizational structure will be streamlined. The business areas Raisio Nutrition and Raisio Life Sciences will be dissolved as of 1 May 2006 and the structure of the group will consist of four profit centers. The segment reporting will be converted into the four division model from the third quarter.
Due to dissolving the business areas the president of Raisio Nutrition, Mr Olavi Kuusela, leaves his position immediately. The president of Raisio Life Sciences, Mr Jukka Lavi, will continue at Raisio until 30 September 2006 to ensure the continuity of the current growth projects in the ingredients business.
Food division is the biggest of the four profit centers of Raisio measured by the turnover (EUR 210 million in 2005). Mr Denis Mattsson has been appointed president of the food division and member of the Executive Committee as of 1 May 2006. Mr Mattsson has worked at Atria Group plc as Commercial Director.
The current president of the Feed and Malt division (turnover EUR 186 million in 2005), Mr Leif Liedes, will continue as the head of the division. The purchasing and logistics operations will be included into his responsibility. Mr Liedes is also appointed member of the Executive Committee.
Mr Matti Rihko has been appointed president of the Ingredients division (turnover EUR 50 million in 2005) and member of the Executive Committee as of 1 August 2006. Mr Rihko’s current position is Regional Director Europe in Altadis SA.
The operations of the Diagnostics division (turnover EUR 9 million in 2005) have been rationalized and the recruitment of a new president for the division is in the final phase.
Raisio will publish its first quarter figures on 4 May 2006 at around 11 a.m.
