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Financial review 

The Healthy Food Division’s net sales totalled EUR 201.1 (201.4) million. Net sales for Northern and Eastern Europe were EUR 101.1 (98.1) million, for Western Europe EUR 66.4 (68.2) million and for the Rest of the World EUR 33.6 (35.2) million. 

The Healthy Food Division’s net sales increased as the grain trade business, transferred to the Northern European operations, increased net sales by EUR 5.6 million from the comparison year, because grain was also purchased to the divested cattle feed business treated as a discontinued operation and it was reported as external sales. 

More than 50 per cent of the Healthy Food Division’s net sales were from the Northern and Eastern Europe, more than 30 per cent from the Benecol product sales in the Eastern European markets and the rest, more than 15 per cent from the Rest of the World business. 

The Healthy Food Division’s comparable EBIT totalled EUR 29.8 (39.3) million, accounting for 14.8 (19.5) per cent of net sales. EBIT was EUR 30.8 (38.4) million, accounting for 15.3 (19.0) per cent of net sales. The comparison year EBIT included the refund of pension payments of some EUR 0.7 million, paid to Raisio’s Swedish subsidiary. 

The conversion impact of the British pound on net sales was EUR -0.6 million and EUR -0.1 million on EBIT. The conversion refers to the impact that arises when the subsidiaries’ net sales in pounds is converted into euros as part of the consolidated financial statements. 

 

1-12/2018

1-12/2017

Net sales, M€

201.1

201.4

  Northern and Eastern Europe, M€

101.1

98.1

  Western Europe, M€

66.4

68.2

  Rest of the World, M€

33.6

35.2

Comparable EBIT, M€

29.8

39.3

Comparable EBIT, %

14.8

19.5

Items affecting comparability, M€

1.0

-0.9

EBIT, M€

30.8

38.4

EBIT, %

15.3

19.0

Investments, M€

3.2

1.5

Net assets, M€

121.2

116.7