Raisio plc, Financial Statements 2014 Raisio plc

Raisio plc       Financial Statements Review 12 February 2014

RAISIO PLC, FINANCIAL STATEMENTS 2014

January-December 2014

• Group’s EBIT excluding one-off items was EUR 34.8 million (EUR 39.3 million in 2013) accounting for 7.0% (7.1%) of net sales. 
• Brands Division’s EBIT excluding one-off items was EUR 35.9 million (EUR 41.4 million) accounting for 11.7% (13.6%) of net sales.
• Raisioagro’s EBIT excluding one-off items was EUR 3.4 million (EUR 3.1 million). 
• Group’s net sales totalled EUR 493.9 million (EUR 557.6 million).
• Earnings per share, excluding one-off items, were EUR 0.18 (EUR 0.20).
• The Board’s dividend proposal EUR 0.14 (EUR 0.13) per share. Continuous dividend growth since 2007.

October-December 2014

• Group’s EBIT excluding one-off items was EUR 8.9 million (Q4/2013: EUR 8.4 million) accounting for 7.6% (6.4%) of net sales. 
• Brands Division’s EBIT excluding one-off items was EUR 10.6 million (EUR 10.0 million) accounting for 12.5% (12.9%) of net sales.
• Raisioagro’s EBIT excluding one-off items was EUR 0.0 million (EUR -0.3 million).
• Group net sales totalled EUR 117.8 million (EUR 131.2 million).

Raisio Group’s key figures excluding one-off items

* Board of Directors’ proposal to the Annual General Meeting ** Including acquisitions *** Excluding the company shares held by the Group

Figures for the comparison period are given in brackets. The financial statements review has not been audited.

CHIEF EXECUTIVE’S REVIEW FOR 2014

“At Raisio, the year 2014 was twofold. Weak performance at the beginning of the year was exceptional but we were able to correct the situation quickly during the second half of 2014. In the last two quarters, Raisio reached higher EBIT than in the comparative periods, which shows that we are back on improving trend. Raisio is one of the few Finnish companies that have been able to improve profitability from the comparison period in almost every quarter for the past eight years.

The Benecol business acquisition from the affiliates of Johnson & Johnson completed in November 2014 was a good and important deal for Raisio. Furthermore, EV/EBITDA multiple was in line with the target level Raisio has set on acquisitions. The Benecol business acquisition in the UK, Ireland and Belgium as well as the amended US-related agreement strongly support the growth strategy of Raisio’s branded business.  In terms of Benecol products, Raisio’s long-term strategic goal is to enhance competitiveness in the existing markets, to expand into new markets as well as to innovate new products. Through the arrangement now completed, we have an opportunity to develop the Benecol business on our own terms, for the first time since 1997.

In December, Raisio renewed the Brands Division’s organisation to better meet the objectives set for the Group’s growth phase concerning, for example, improvement of profitability and organic growth. We aim to make clearly better use of the synergies between our branded operations and to enable growth. Cereals and Snacks businesses in the UK and Northern Europe have been combined into a single entity, which allows us to use the best expertise available to tackle thechallenges related to the UK’s cereal business. In addition, all Benecol businesses have been combined into one entity, which enhances innovation and improves results.

Raisioagro has completed an extensive reorganisation of activities with a focus on cattle and fish feeds, grain trade and online store.  Raisioagro aims to be the leading operator in the agricultural sectors where success is based on feeding and plant cultivation expertise and on innovations. Innovations improving the effectiveness and profitability in agriculture and fish farming are in the core of Raisioagro’s new strategy.

The international commercialisation of Benemilk is proceeding as planned. We continue our commercial negotiations with several partner candidates in Asia, Europe, Oceania and North America. Some of the partners have conducted their own production tests and commissioned feeding trials from external research institutes, which has extended negotiations as the analysis of results of each test easily takes several months. According to the best current estimate, the first Benemilk launches could take place already 2015.”

OUTLOOK 2015

Raisio expects its EBIT to return on its long-term upward trend.

Raisio plc

Heidi Hirvonen Communications and IR Manager Tel. +358 50 567 3060

Further information: Matti Rihko, CEO, tel. +358 400 830 727 Antti Elevuori, CFO, tel. +358 40 560 4148 Heidi Hirvonen, Communications and IR Manager, tel. +358 50 567 3060

Release dates of Raisio’s financial reviews in 2015

• Raisio’s Annual Report 2014 will be released online during the week 11 at http://annualreport2014.raisio.com/
• Raisio will publish Corporate Responsibility Report, which is part of the online Annual Report.
• The Annual General Meeting will be held on 26 March 2015.
• Interim Report for January-March will be published on 7 May 2015.
• Interim Report for January-June will be published on 11 August 2015.
• Interim Report for January-September will be published on 5 November 2015.

Raisio Group briefly

Raisio plc is an international specialist in plant-based nutrition. Raisio’s operations are divided into two divisions: Brands and Raisioagro. The Group’s key market areas are Finland, Great Britain, the Czech Republic, Russia, Ukraine, Poland, Estonia and Sweden. Raisio plc’s shares are listed on NASDAQ OMX Helsinki Ltd. In 2014, the Group's net sales totalled EUR 494 million and EBIT was EUR 35 million. The Group employs some 1,900 people. Raisio’s best-known brands are Benecol, Honey Monster, Elovena, Fox’s, Dormen, Juicee Gummee, Poppets and Benemilk.

Distribution NASDAQ OMX Key media www.raisio.com