CEOJarmo Puputti's review Q2/2017
Raisio’s April-June comparable EBIT EUR 13.1 million
“Raisio’s EUR 13.1 million comparable EBIT for April-June was a satisfactory performance as the profitability of the UK confectionery business decreased substantially with the continued operational and commercial challenges at the Leicester confectionery plant and with the declining pound.
During the spring and summer, we have started to solve operational problems at the Leicester confectionery plant. Tackling the commercial challenges will take more time than expected. The Czech confectionery business continued its steady performance, in terms of both net sales and profitability.
In June, Raisio made an important deal and divested its Southall industrial property near London. The purchase price paid by the buyer was approximately EUR 40 million. Southall is one of the most important urban development areas in London.
Net sales for the Benecol business remained at the comparison period level without the pound’s currency impact. Sales growth continued in Elovena products.
The fish feed season has passed well despite the delayed introduction of the new fish feed production line. Sales in Raisioagro’s cattle feeds were lower than in the comparison period.
Raisio’s Board of Directors approved the renewed business strategy in April and the Group strategy in early summer. Both the strategies are for the years 2017 – 2022. The strategy emphasising wellbeing is based on the company’s strong competence areas: plant-based and functional foods, effective feeds and value-creating digital services. Responsible way of operating covers all Raisio’s businesses and is a central part of our continuous improvement objective.
The company seeks profitable growth with agile product and brand development, new markets and product categories, digital services, and through acquisitions. The renewed strategy creates a well-targeted and determined operating model for growth. Raisio aims to be a great place to work.”