Raision Half-Year Financial Report 2018: Raisio's renewal continues strong
President and CEO Pekka Kuusniemi's review:
“Raisio is at the beginning of the new, focusing on healthy and responsibly produced food. We continue our determined work to support profitable organic growth. The reorganisation completed this spring allowed us to steer all resources to promote growth.
We have identified problem areas regarding the businesses where net sales and profitability development do not meet expectations, and started corrective actions. We have set an ambitious but realistic recovery schedule for these businesses.
As planned, we have significantly increased marketing investments, particularly in Benecol, which has lowered the Healthy Food Division’s EBIT level. Benecol product sales were at the comparison period level in the UK whereas in Finland, strong growth continued. In line with its strategy, Raisio launched new Benecol products into new product categories in the UK, Finland and Poland in the first half of the year.
The divestment of the cattle feed business is an important step towards Raisio’s strategy focusing on healthy foods. Unlike in its initial estimate, Raisio expects the transfer of the cattle feed business to Lantmännen Agro to take place in October-November as the Finnish Competition and Consumer Authority decided, at the end of July, to begin further processing of the deal. Raisioaqua, the fish feed manufacturer, is a solid part of the Raisio Group and an innovative forerunner in its field.
Raisio’s new Purpose, combining mission and vision, sets us ambitious goals and strongly guides everything we do. Raisio’s Purpose in brief: Food for Health, Heart and Earth. This summer, we introduced a project to define new values for the company. Our goal is to have Raisio’s new values in use during the autumn 2018. Our Purpose and values gives a clear direction for all our activities."