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CEO’s review: 

Raisio is an international brand house focusing on healthy food

For Raisio, the year 2018 was a period of strong renewal and construction. Now the company has a clear focus: healthy food.

In 2018, we built a solid foundation for our next steps. Our purpose and values defined together with our employees create the basis for all our work and guide the decision-making. In line with the strategy, we will focus on securing the growth and profitability of its core operations in 2019.  

Building a united Raisio 

Raisio’s further strengthened balance sheet enables the company to implement its long-term growth strategy.

2018, an eventful year 

In 2018, several separate events affected Raisio’s sales and profitability. 

For Raisioaqua, the second half of 2018 was exceptional as in August, the Russian authorities closed the border. The import ban of fish feeds resulted in the EBIT decrease of EUR 2.5 million on the comparison year. After the border was reopened in December, Raisioaqua continued to finalise the 2019 fish feed contracts. The Russian customers’ confidence in Raisioaqua remains very high.
EBIT was affected by the planned increase in marketing costs and the challenges in the Russian and Polish consumer product markets. EBIT for the Russian and Polish operations was down by EUR 2 million on the comparison year. Raisio has identified the problem areas in these markets, carried out corrective measures and managed to turn the direction of the businesses. 

Exceptionally poor harvest in Finland resulted in a grain price increase of up to 60 per cent, which led to decreased profitability. The quality of the 2018 harvest was also clearly lower than in previous years. Raisio reacted promptly to the price increases of grain with price changes. 

Elovena Muru Oat Mince, Raisio’s new oat innovation

Raisio’s most significant novelty was the new oat innovation Elovena Muru Oat Mince launched in September. The product has been very well received by consumers and it has shown its ability to grow the whole category and compete for the market leadership. 

Elovena Muru can be used quite in the same way as minced meat; it is ideal to anyone who wants to increase the share of vegetarian food in their diet. With its competitive price and ease of use, Elovena Muru is a real plant protein for all.  

Benecol products into new categories 

In the summer 2018, Raisio launched Benecol novelties into new product categories and sales channels. New Benecol snack bars are available in the UK, Finland and Poland, and Benecol Greek Style Yogurt in the UK, Finland and Belgium.

Raisio increased the marketing investment to boost the sales of novelties and to gain new Benecol consumers. Furthermore, in our key Benecol product markets, we started long-term work to increase healthcare professionals’ knowledge on cholesterol and on safe, effective Benecol products proven to lower cholesterol.

Our goal is to be an innovative and increasingly international brand house. 

Pekka Kuusniemi
President and CEO