Slide 1: Raisio Interim Report January-September 2017
Raisio Interim Report January-September 2017 President & CEO Pekka Kuusniemi CFO Antti Elevuori Raisio plc 8 November 2017
Slide 2: Raisio’s Q3/2017 in brief
Raisio’s Q3/2017 in brief M€ Group net sales* • Group net sales * 108.8 (102.8) M€, growth of +5.8% 150 +5.8% • Particularly good sales for fish feeds 102.8 108.8 • Good sales development in Benecol products continued in 100 37.1 41.2 Finland and plant stanol ester deliveries to licensing partners i
Slide 3: Key figures, comparable income statement
Key figures, comparable income statement 7-9/ 7-9/ 1-9/ 1-9/ 2017 2016 2017 2016 2016 Net sales M€ 108.8 102.8 305.5 340.9 436.3 Change in net sales % +5.8% -23.5% -10.4% -14.4% -16.3% EBIT M€ 13.0 14.0 36.7 38.7 50.7 EBIT % 12.0% 13.6% 12.0% 11.3% 11.6% Depreciation and impairment M€ -2.8 -2.6 -8.2
Slide 4: Key figures, balance sheet
Key figures, balance sheet 1-9/ 1-9/ 2017 2016 2016 Equity ratio % 69.6 63.1 66.8 Net gearing % -3.9 13.1 8.5 Net interest-bearing debt M€ -11.9 39.8 26.7 Equity per share € 1.93 1.93 1.99 Investments M€ 9.9 13.4 18.3 4
Slide 5: Development of Raisio’s Q3/2017 net sales by unit
Development of Raisio’s Q3/2017 net sales* by unit (EUR/GBP conversion impact separately) DIVESTED UK SNACKS BUSINESS * Comparable net sales 5
Slide 6: Development of Raisio's 1-9/2017 net sales by unit
Development of Raisio's 1-9/2017 net sales* by unit (EUR/GBP conversion impact separately) DIVESTED UK SNACKS BUSINESS * Comparable net sales 6
Slide 7: Key figures by quarters
Key figures by quarters Net sales* EBIT* M€ M€ 142 135 133 20 16.0 127 150 124 123 123 15.0 118 117 114 14.0 14.0 109 13.1 13.0 104 103 12.1 12.0 12.0 15 10.6 95 93 100 9.7 9.6 8.9 8.5 10 5.4 50 5 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Net working capital Cash flow after investments (before financial items) M€
Slide 8: Group EBIT 2008-Q3/2017
Group EBIT 2008-Q3/2017 M€ 55 50 45 40 35 30 25 20 15 10 5 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q3/2017 Comparable EBIT, rolling 12 months 8
Slide 9: Brands
Slide 10: Brands Division’s net sales and EBIT Q3
Brands Division’s net sales and EBIT Q3 M€ Comparable net sales M€ Comparable EBIT % 100 15 20 +3.4% 16.2% 15.0% 15 10 50 10 68.4 70.7 5 11.1 10.6 5 0 0 0 Q3/2016 Q3/2017 Q3/2016 Q3/2017 EBIT EBIT % 10
Slide 11: Benecol
Benecol M€ Net sales • Net sales 29.2 (26.6) M€, growth of +9,9% +9.9% 30 • EBIT above the comparison period level 20 • Net sales developed positively in all home markets of consumer products, except in Poland 26.6 29.2 10 • In Raisio’s largest market, UK, net sales increased mainly 0 due to price i
Slide 12: Renewed Benecol is a healthy lifestyle brand
Renewed Benecol is a healthy lifestyle brand • Benecol brand was renewed based on extensive international consumer studies • Benecol makes cholesterol lowering easier and more delicious • Product range that fits the consumers’ lifestyles • Good availability in various distribution channels • Guidanc
Slide 13: New Benecol marketing communications
New Benecol marketing communications Benecol’s new TV ad 13
Slide 14: Healthy Food
Healthy Food M€ Net sales • Good, steady performance continued 30 • Net sales 17.7 (18.1) M€ 20 -2.0% • Net sales down from the comparison period in Russia 10 18.1 17.7 • Net sales increased with deliveries to a major 0 Finnish bakery customer Q3/2016 Q3/2017 • Sales in Elovena products at the stron
Slide 15: Confectionery
Confectionery • Net sales 23.7 (23.1) M€ M€ Net sales • EBIT clearly down from the comparison period 30 +3.0% • Performance in the Czech business remained steadily 20 positive, for both net sales and EBIT • Net sales for Nimbus, a UK producer of inclusions 10 23.1 23.7 and toppings, increased and EB
Slide 16: Raisioagro
Slide 17: Raisioagro
Raisioagro M€ Net sales • Net sales 41.2 (37.1) M€, +11.2% 50 +11.2% • Fish feed export to Russia increased by over 50%, sales 40 growth also in Finland 30 • Sales volume in cattle feeds slightly down 20 37.1 41.2 10 • Planned sales reduction in low-margin farming supplies 0 continued Q3/2016 Q3/201
Slide 18: Responsible Benella fish attracts interest
Responsible Benella fish attracts interest • Availability and shop coverage of Benella Rainbow Trout improved especially in Kesko’s grocery stores • In September, Kesko launched Benella Rainbow Trout Fillet in its Pirkka Parhaat premium private label range and is strongly investing in the marketing
Slide 19: Raisio’s outlook for 2017
Raisio’s outlook for 2017 Raisio revised its 2017 outlook in the stock exchange release published on 21 July 2017. For the full year 2017, the company estimates its comparable EBIT to be approximately EUR 45 million. The outlook revision was due to the prolonged operational and commercial problems a