Skip to Content

Financial review

In 2018, several separate events affected Raisio’s sales and profitability. The most significant impacts on EBIT were the Russian fish feed import ban, planned growth of marketing costs and challenges faced in the Russian and Polish consumer product markets. Furthermore, exceptionally poor harvest in Finland together with a grain price increase of up to 60 per cent decreased profitability. Raisio promptly reacted to the situation with price changes.

Raisio Group, January-December 2018, continuing operations 

  • The Group’s net sales totalled EUR 228.2 (234.6) million. 
  • Comparable EBIT was EUR 25.6 (35.9) million, accounting for 11.2 (15.3) % of net sales. 
  • EBIT was EUR 16.6 (54.1) million, accounting for 7.3 (23.0) % of net sales. EBIT for the comparison year includes sales profits of EUR 28.0 million for the Southall factory property.
  • The Board of Directors’ dividend proposal to the Annual General Meeting is EUR 0.16 per share, of which EUR 0.04 as an extra dividend.

The comparison year figures in brackets

Net sales  

Raisio Group’s net sales totalled EUR 228.2 (234.6) million. Net sales decreased primarily due to the impact of the Russian fish feed import ban and declined sales volumes in many European markets. On the other hand, sales of novelties increased net sales. The grain trade business, transferred from Raisioagro to the Northern European operations, increased net sales by EUR 5.6 million, because grain was also purchased to the cattle feed business treated as a divested and discontinued operation and it is reported as external sales. 

The conversion impact of the British pound on the net sales of the Group and Healthy Food Division was EUR -0.6 million. This refers to the impact that arises when the subsidiaries’ net sales in pounds are converted into euros as part of the consolidated financial statements.

Net sales from outside Finland were EUR 142.1 (156.2) million of the Group’s total, representing 62.3 (66.6) per cent of net sales. Finland accounted for over 35 per cent, the UK for more than 25 per cent, the rest of Europe below 35 per cent and the rest of the world clearly below 5 per cent of the Raisio Group’s net sales. 

Results

The Raisio Group’s comparable EBIT amounted to EUR 25.6 (35.9) million, accounting for 11.2 (15.3) per cent of net sales. EBIT was EUR 16.6 (54.1) million, accounting for 7.3 (23.0) per cent of net sales. EBIT for the comparison year includes sales profits of EUR 28.0 million for the Southall factory property.

The conversion impact of the British pound on the comparable EBIT of the Group and Healthy Food Division totalled EUR -0.1 million. The conversion refers to the impact arising when subsidiaries’ EBIT in pounds is converted into euros as part of the consolidated financial statements.  

The Group’s comparable pre-tax result was EUR 24.8 (34.5), and pre-tax result 15.7 (52.7) million. The Group’s comparable post-tax result was EUR 19.3 (27.2) and post-tax result 12.1 (40.4) million. The Group’s comparable earnings per share were EUR 0.12 (0.17), and earnings per share 0.08 (0.26).