Raisio reveals “decrease in consumer goods” amid inflation and lowers guidance

10 Jul 2023 --- Raisio is lowering its guidance regarding the development of the company’s comparable net sales in 2023. High inflation and rising interest rates have impacted consumer demand in the company’s key markets, resulting in a decrease in volumes of consumer goods in the first six months of 2023.

Visibility on market development is currently low, and there are no clear signs of improvement in the market environment for the latter half of 2023.

Due to the changes in the market environment, Raisio expects its comparable net sales in 2023 to remain or be slightly below the previous year’s. The company forecasts its comparable net sales to increase from the prior year.

Raisio also specifies its guidance for developing comparable operating profit in 2023. Comparable operating profit is expected to increase from the previous year’s €21 to €23 million (US$23 to US$25.2 million).

Raisio expects its comparable net sales in 2023 to remain or be slightly below the previous year’s.The company estimated that the comparable operating profit would increase from the previous year.

Raisio expects comparable net sales to remain or be slightly below the previous year’s level. The company will publish its half-year financial report on August 9, 2023.

Driving business growth
Alternative dairy appetites drive oat growth as Raisio and Oatly ramp up production and NPD.

Last year, Raisio and the Nordic Umami Company partnered to explore opportunities for upcycling Raisio’s plant-based side streams to develop natural umami. 

The partnership supports Raisio’s corporate responsibility program, as one of its aims is to minimize food and production waste and better utilize by-products.

In June, Food Ingredients First reported that the results of the collaboration between Raisio and Nordic Umami Company, which started a year ago, would be available for sampling later this summer. This is planned for when samples of the “Härkis tomaattinen maustekastike” tomato sauce, made from production side streams, are made available in selected K Group shops in Finland. 

Raisio and Nordic Umami Company have been working together to explore the possibilities of using the side streams of Raisio’s plant-based products to produce natural umami. 

Edited by Elizabeth Green