Raisio plc Financial Statements Review 13 February 2014
Raisio plc, Financial Statements Review 2013
RAISIO EBIT CONTINUED TO IMPROVE
Raisio Group’s key figures excluding one-off items
|Q4/ 2013||Q4/ 2012||Q3/ 2013||Q2/ 2013||
|Results from continuing operations|
|Change in net sales||%||-4.6||-0.9||-7.1||-1.3||-4.9||-4.5||5.7|
|Depreciation and impairment||M€||3.7||4.1||3.7||3.7||3.9||14.9||16.6|
|Net financial expenses||M€||-0.4||-0.4||-0.2||-0.8||-0.4||-1.8||-2.5|
|Earnings per share (EPS)||€||0.05||0.04||0.06||0.05||0.04||0.20||0.18|
|Net interest-bearing debt||M€||-||-||-||-||-28.5||16.2|
|Equity per share||€||-||-||-||-||-||2.13||2.10|
|Dividend per share||€||-||-||-||-||-||0.13*||0.12|
|Enterprise value (EV)||M€||-||-||-||-||-||654.6||495.5|
* 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 OF 2013
“Raisio Group achieved record EBIT of almost 40 million euros in 2013. EBIT improved by about 14 per cent on the comparison year. Clear improvement in EBIT is a good achievement from the company and organisation in the challenging economic situation of Europe.
The Group's balance sheet has been kept strong with a positive cash flow of EUR 71.8 million. Raisio is a net debt free company despite our acquisitions of EUR 200 million made on a debt free basis during the growth phase. This gives us a good opportunity to continue the implementation of the growth phase in line with our strategy.
Last spring Raisio and Intellectual Ventures (IV) established a joint venture Benemilk Ltd whose operations have proceeded well as expected. Several patent applications related to the Benemilk® innovation have already been filed and further applications are under development. We have begun preliminary negotiations with potential Benemilk licensing partners.
When solving global challenges of the food and agriculture sector, Benemilk Ltd is shaping up to be a holding company widely combining IPR and technologies. The latest example of this is the patent application filed in the USA in late 2013 for an invention related to a new salmon feed, which Raisioagro is already using in its feeds for rainbow trout.”
In 2014, Raisio continues to improve its EBIT. The improvement is estimated to focus on the second half of 2014 when the ongoing streamlining projects are completed.
Communications and IR Manager
Tel. +358 50 567 3060
Matti Rihko, CEO, tel. +358 400 830 727
Jyrki Paappa, CFO, tel. +358 50 556 6512
Heidi Hirvonen, Communications and IR Manager, tel. +358 50 567 3060
Event in Finnish for analysts and media will be arranged in Helsinki on 13 February 2014 starting at 2.00 p.m. Finnish time. It will be held at Hotel Scandic Simonkenttä. The address is Simonkatu 9, Helsinki.
Chief Executive’s video on 2013 in English will be made available http://www.raisio.com/www/page/8133
Release dates of Raisio’s financial reviews in 2014
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 2012, the Group's net sales totalled EUR 584 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.