Raisio plc Financial Statements Bulletin 2024

Raisio Plc’s Financial Statements Bulletin, February 13, 2025 at 8.30 a.m. EET

2024 net sales and sales volumes grew, driven by strong brands

 

FINANCIAL DEVELOPMENT IN BRIEF

OCTOBER-DECEMBER 2024, CONTINUING OPERATIONS

• The Group's net sales totalled EUR 54.9 (54.2) million, which signified a growth of 1.2%.
• Comparable EBITDA was EUR 7.7 (8.1) million, which accounted for 14.0 (14.9) per cent of net sales.
• EBITDA was EUR 7.4* (6.7*) million, which accounted for 13.5 (12.4) per cent of net sales.
• Comparable EBIT was EUR 5.2 (5.5) million, accounting for 9.4 (10.1) per cent of net sales.
• EBIT was EUR 3.9* (3.1*) million, which accounted for 7.1 (5.7) per cent of net sales.
• The Group’s cash flow from continuing operations after financial items and taxes totalled EUR 7.2 (9.0) million.
• Comparable earnings per share were EUR 0.03 (0.04) per share.
• Earnings per share were EUR 0.02 (0.02) per share.

*EBITDA and EBIT include EUR 0.7 (1.1) million in costs related to business expansion, EUR 0.1 (0.2) million in costs related to reorganisation, EUR 1.0 (1.1) million in impairment losses on intangible assets, as well as EUR 0.5 million related to the reversal of a provision. The EUR 0.7 million in costs related to business expansion include a provision of EUR 0.6 million.

 

JANUARY-DECEMBER 2024, CONTINUING OPERATIONS

• The Group's net sales totalled EUR 226.8 (219.5) million, which signified a growth of 3.3%.
• Comparable EBITDA was EUR 33.3** (32.8) million, which accounted for 14.7 (15.0) per cent of net sales.
• EBITDA was EUR 30.9* (30.3*) million, which accounted for 13.6 (13.8) per cent of net sales.
• Comparable EBIT was EUR 23.4** (22.7) million, accounting for 10.3 (10.4) per cent of net sales.
• EBIT was EUR 19.9* (19.1*) million, which accounted for 8.8 (8.7) per cent of net sales.
• The Group’s cash flow from continuing operations after financial items and taxes totalled EUR 39.3 (37.0) million.
• The comparable return on invested capital (ROIC) was 9.4 (9.2) per cent and the return on invested capital (ROIC) was 8.1 (7.9) per cent.
• Comparable earnings per share were EUR 0.13 (0.13) per share.
• Earnings per share were EUR 0.11 (0.11) per share.
• The Board of Directors’ dividend proposal for the Annual General Meeting is EUR 0.14 per share, of which EUR 0.11 is the basic dividend in accordance with the company's dividend policy and EUR 0.03 the supplementary dividend.

*EBITDA and EBIT include EUR 2.0 (1.7) million in costs related to business expansion, EUR 1.0 (0.9) million in costs related to reorganisation, EUR 1.0 (1.1) million in impairment losses on intangible assets, as well as EUR 0.5 million related to the reversal of a provision. The EUR 2.0 million in costs related to business expansion include a provision of EUR 0.6 million.
**The comparable EBITDA and EBIT for the review period includes a provision of EUR 0.7 million for retrospective payments to the authorities.

 

CEO PASI FLINKMAN:

Renaissance from the fields to the world

When I joined Raisio last summer, I thought I was moving to a fairly traditional company. However, I have come to understand that Raisio is a fascinating combination of roots deep in the Finnish soil, outstanding R&D expertise, an international presence and strong brands. Indeed, Raisio’s strengths are built on its ability to combine the benefits of different approaches. Like a Renaissance man, Raisio has versatility, innovation and the ability to evolve and adapt to rapidly changing circumstances.

Volume growth and lessons from several markets

In 2024, volumes have increased: at the Group level, the increase was around 9% compared to the previous year. The trend was similar in all of our main markets and main categories. The stormy seas on the raw material markets calmed down to gentle ripples during the year. At the same time, we have consciously scaled back the role of grain trade with low levels of processing and focused on the production of strongly branded consumer products and processed raw materials.

Half of our net sales come from international markets outside Finland. Internationalising a brand requires a thorough understanding of markets and cultures, and the ability to adapt the products and messages to the needs of the target market while maintaining the core brand identity. It is a long and complex process that requires time, resources and flexibility. During the past year, we launched the Elovena® brand in the Netherlands and our snack biscuits in Sweden. These launches have not met all of our performance targets. In the long run, an organisation’s success is determined by its ability to learn and adapt to the world around it, and we have learned valuable lessons from these launches that will continue to support our ongoing internationalisation journey in the year ahead.

Great taste is an act of responsibility

You can choose Raisio products with a clear conscience because responsibility is an integral part of everything we do. At Raisio, we believe that by working with us, you are part of the solution to some of the biggest problems facing humanity.

We focus on the heart-healthiness of our product range. Last year, we supported the heart health of millions of people by supplying 260 million daily doses of plant stanol ester, which lowers harmful cholesterol. During the year, we launched 16 new Heart Symbol products in Finland, bringing the share of these products to 73% of our total consumer products. Fibre is the foundation of nutrition and well-being. Last year, we served 9,500 tonnes of dietary fibre to Finns in our consumer products. These are important figures, even though their magnitude and significance can be difficult to grasp. We operate on the premise that the increasing requirements for accuracy and verifiability in responsibility reporting are an advantage for Raisio, as they help separate the wheat from the chaff. Therefore, we report that 99.8% of the energy we used in 2024 was carbon neutral, although sometimes it might be tempting to round it up to 100%.

At the same time, it is important to recognise that no changes to our products — be it reducing sugar, adding fibre or making packaging more recyclable — will make any difference if consumers do not choose those products. That is why the deliciousness and convenience of our products are important pillars of responsibility.

Towards a bright future, in the short and the long term

Despite the challenges in the world around us, we enter the new year with confidence. Megatrends such as sustainability and well-being are fuelling our development. The economy is also expected to recover in the second half of 2025. However, we start from the premise that the responsibility for growth and profitability cannot be outsourced; it lies with us.

We are striving for clear progress in both the short and long term. We will continue to develop our responsiveness and adaptability without compromising on long-term development. We will continue to invest in our people, skills, research, product development and brands. We are in the final stages of our strategy process and will report more on it in the first quarter of the year.

The year 2025 kicked off with celebrations. This year marks the 30th anniversary of the launch of Benecol®. The brand celebrates its anniversary by working with healthcare professionals, continuing to help millions of people lower their cholesterol. At the same time, Elovena® is celebrating its 100th anniversary by being a strong presence in the everyday lives of our consumers and in the small but meaningful moments that, when shared with loved ones, are life at its best.

Raisio’s best days are still ahead of us. And not least because it is being built by a team of committed professionals who put their hearts and souls into their work. My warmest thanks to you and our partners for the past year.

I wish every one of you success and the best that life can give — the magic of everyday moments.

 

OUTLOOK 2025

Raisio projects the comparable EBIT for continuing operations for the financial year 2025 to increase compared to 2024.

 

In Raisio, Finland, 12 February 2025
Raisio plc
Board of Directors

 

Further information:
Pasi Flinkman, CEO, tel. +358 400 819 947
Mika Saarinen, CFO, tel. +358 40 072 6808

The Finnish-language webcast on the Financial Statements Bulletin by the CEO and CFO will start on 13 February 2025 at 12 noon, Finnish time. This is the direct link to the webcast: https://raisio.events.inderes.com/q4-2024

 

Raisio’s financial releases in 2025

Raisio plc’s Annual Review for 2024 will be published on 13 March 2025. The Annual Review includes the financial statements, the consolidated financial statements, the Board of Directors’ report, the auditor’s report, the Supervisory Board’s statement and the corporate responsibility report. Raisio will also publish its Corporate Governance Statement and Remuneration Report for 2024 at the same time.

Raisio’s Interim Report for January–March will be published on 13 May 2025.
Raisio’s Half-Year Financial Report for January–June will be published on 12 August 2025.
Raisio’s Interim Report for January–September will be published on 11 November 2025.

The Financial Statements Bulletin has not been audited.

 

RAISIO PLC
At Raisio, we make food from the heart, with the aim of bringing health to ourselves and the Earth. We keep creating better plant-based and heart-healthy products so that eating healthily and within the Earth’s ecological capacity can be a pleasure. Our strong brands, such as Benecol® and Elovena®, turn our ambitions into reality. Through our responsibility work, we make the hard choices for consumers, so that they can choose Raisio products with confidence. We have around 350 healthy food colleagues in seven countries and export to more than 40 markets around the world. Raisio's shares are listed on Nasdaq Helsinki Ltd. www.raisio.com