Stopping all exports to Russia initiates change negotiations regarding Raisioaqua business at the Raisio Group

Raisio plc, Media Release, March 7, 2022

Stopping all exports to Russia initiates change negotiations at Raisioaqua Ltd. Raisioaqua is a Finnish fish feed producer and feeding expert and is part of the Raisio Group.

Raisio has today called employee representatives to discuss plans regarding furloughs which might take over 90 days. All 30 employees of Raisioaqua Ltd are in the scope of negotiations. However, the final furlough need depends on what alternative solutions can be found during the negotiations. This will be defined during the negotiations.

Reason for the change negotiation is stopping Raisio’s exports to Russia. Raisio’s exports to Russia has consisted of consumer packed foods as well as fish feed. Most of the turnover generated in Russia has come from the fish feed exports produced by Raisioaqua. Approximately 65% of Raisioaqua’s production has been exported to Russia, which means that stopping exports has a significant effect to Raisioaqua’s business. Negotiations initiated for productional and financial reasons will be started on March 14, 2022. Aim is to finish process during April 2022.

Raisio plc’s Stock Exchange Release regarding exports to Russia was published on March 3, 2022.

Raisio plc

Further information:
Pekka Kuusniemi, CEO, tel. +358 50 537 3883

RAISIO PLC
Raisio’s purpose is to make food which is good for Health, Heart and Earth. Our growth drivers and focus areas are Benecol® and plant stanol ester solutions, plant based foods, branded oat products for consumers and oat as raw material for industry. Our strong brands include for example, Benecol®, Beanit®, Elovena®, Sunnuntai®, Torino® and Benella®. In our products the focus is on well-being, health, good taste and responsibility. Raisio's values − courage, fairness and drive − guide us towards our targets. Raisio’s shares are listed on Nasdaq Helsinki Ltd. In 2021, the Group’s net sales totaled EUR 246 million and comparable EBIT was EUR 22 million. Raisio employs about 400 people. www.raisio.com.