CEO Matti Rihko's review Q3/2016
Raisio continues to focus on more profitable businesses
“The Group’s comparable EBIT of EUR 14 million was Raisio’s third best quarterly results ever. What makes this good performance particularly significant is that the weakening of the pound alone had a negative impact of over one million euros on Raisio’s EBIT. At comparable exchange rates, Raisio is cumulatively ahead of last year.
In the UK, sales volume of Benecol products continued to increase, which is a strong performance in the largest market of Benecol products, particularly bearing in mind that Benecol gained market shares from its competitors. Demand for healthy and ecological snacks is showing strong growth. Sales in Elovena products increased by over 10 per cent. Elovena’s success shows Raisio’s ability to anticipate future trends and to launch products that meet customer needs. The portfolio and sales of Raisio’s own confectionery brands have grown successfully over the years with new products and packaging options although the growth levelled off during the third quarter.
Raisioagro improved its EBIT by almost 70 per cent to EUR 2.3 million and was able to further reduce its net working capital. Profitability improved particularly through enhanced business operations, but also as a result of the innovations supporting sustainable development, such as Benemilk and Benella. Even in the milk crisis, Benemilk has been able to keep its 7 per cent market share. Sales in Benella are growing strongly and creating a new kind of cooperation concept throughout the chain, from fish farms to supermarket fish counters.”