Raisio Plc's Half-Year Financial Report, 12 August 2026 at 8.30 a.m. Finnish time
April-June 2026
· The Group's net sales totalled EUR 56.0 (54.5) million, which signified a growth of 2.7%.
· Comparable EBITDA was EUR 7.9 (10.2) million, which accounted for 14.1% (18.7%) of net sales.
· EBITDA was EUR 7.9 (9.6**) million, which accounted for 14.1% (17.6%) of net sales.
· Comparable EBIT was EUR 5.5 (7.9) million, accounting for 9.9% (14.5%) of net sales.
· EBIT was EUR 1.2* (7.3**) million, which accounted for 2.1% (13.3%) of net sales.
· The Group's cash flow after financial items and taxes totalled EUR 3.3 (7.2) million.
· Comparable earnings per share were EUR 0.03 (0.04) per share.
· Earnings per share were EUR 0.01 (0.04) per share.
*EBIT for the review period includes an impairment loss of EUR 4.3 million relating to the right-of-use assets in Kauhava associated with the divested plant protein business.
**EBITDA and EBIT for the comparison period include EUR 0.6 million in costs related to business restructuring.
January-June 2026
· The Group's net sales totalled EUR 113.5 (112.4) million, which signified a growth of 1.0%.
· Comparable EBITDA was EUR 17.7* (18.7*) million, which accounted for 15.6% (16.7%) of net sales.
· EBITDA was EUR 18.4** (18.1**) million, which accounted for 16.2% (16.1%) of net sales.
· Comparable EBIT was EUR 13.1* (14.0*) million, accounting for 11.5% (12.5%) of net sales.
· EBIT was EUR 9.4** (13.4**) million, which accounted for 8.3% (11.9%) of net sales.
· The Group's cash flow after financial items and taxes totalled EUR 11.6 (14.8) million.
· The comparable return on invested capital (ROIC) was 10.7% (11.6%) and the return on invested capital (ROIC) was 7.9% (11.1%).
· Comparable earnings per share were EUR 0.07 (0.07) per share.
· Earnings per share were EUR 0.05 (0.07) per share.
*Comparable EBITDA and EBIT for the review period include a reversal of a provision of EUR 0.1 (0.3) million for a retrospective payment to the authorities.
**EBITDA and EBIT for the review period include proceeds of EUR 0.7 million from the sale of the Honey Monster brand. EBITDA and EBIT for the comparison period include EUR 0.6 million in costs related to business restructuring. EBIT for the review period also includes an impairment loss of EUR 4.3 million relating to the right-of-use assets in Kauhava associated with the divested plant protein business.
The first half of 2026 was a steady period for Raisio, although our overall performance did not fully meet our ambitions. The Group's net sales grew by 1.0% to EUR 113.5 (112.4) million, but this is not yet in line with our targets. Comparable EBIT was EUR 13.1 (14.0) million, falling clearly short of the comparison period. The EBIT of our Brands & Industrial segment increased slightly compared with the comparison period, but our ongoing ERP project had a negative impact of EUR 1.3 million on Group's comparable EBIT, as a result of which the Group's comparable EBIT was lower than in the comparison period. The growth in net sales, our strong financial position and the progress of our strategic projects provide us with a solid foundation for continuing our long-term efforts to build sustainable growth.
In the second quarter, net sales grew by 2.7% to EUR 56.0 (54.5) million. Comparable EBIT was EUR 5.5 (7.9) million. Profitability was particularly affected by the timing of commercial investments, the underperformance of the Heart Health business relative to its targets, the adverse impact of exchange rates and ongoing development projects. The foundations of our business are strong, but despite accelerating growth, the quarter's result did not meet our targets.
The Breakfast, Snacking & Food Solutions business continued to develop well. The unit's net sales grew significantly in the first half of the year compared with the comparison period. Elovena® continued to develop strongly in Finland, and growth in the Food Solutions business was supported in particular by good demand in export markets. The interest in oat-based products and solutions supports growth in line with our strategy in the longer term as well.
The Heart Health business saw mixed results in the first half of the year. Net sales were slightly lower than in the comparison period, and profitability was impacted by volume trends in the consumer business, exchange rates and investments related to the Benecol® brand renewal. We are not satisfied with the overall performance during the first half of the year and determinedly continued to reform our business operations. The comprehensive renewal of the Benecol® brand is being rolled out in stages across the markets and will be completed in the final quarter of the year. Distribution of the products launched in Spain in March is gaining momentum, and there has been positive development in licensing and industrial customer relationships. These initiatives will not be reflected in our results immediately, but they are important for strengthening Heart Health's growth and competitiveness.
The implementation of our strategic initiatives progressed across several areas during the review period. The investment to increase the capacity of the Nokia oat mill has been completed and is now fully operational. Our new pilot plant paves the way for the development of fibre-based raw materials, and the decision to establish new research and product development facilities will strengthen our innovation activities. The approval of our emissions reduction targets by the Science Based Targets initiative in June marks an important step in our sustainability work.
Our operating environment remains uncertain. Consumer price consciousness, fluctuations in exchange rates and pressures relating to raw materials and costs are affecting the food supply chain. However, Raisio's strengths are clear: well-known brands, expertise in healthy food and heart health, a strong balance sheet and the ability to develop new solutions to meet consumers' changing needs. Converting these strengths into faster growth will be our key focus for the rest of the year.
My term as CEO of Raisio is coming to an end. During my remaining time as CEO, my main task will be to ensure that Raisio's work continues with a clear direction, at a good pace and with strong commitment, and onboard my successor, Elli Siltala. The company has strong brands, skilled employees and a solid foundation for future growth.
Our guidance for 2026 remains unchanged. We estimate that net sales and comparable EBIT will increase compared to 2025. Our priorities for the rest of the year are clear: we will boost sales, strengthen profitability and continue the disciplined implementation of our strategic growth projects.
Raisio projects that net sales and comparable EBIT for the 2026 financial year will increase compared to 2025.
In Raisio, Finland 11 August 2026
Raisio plc
Board of Directors
Further information:
Pasi Flinkman, CEO, tel. +358 400 819 947
Mika Saarinen, CFO, tel. +358 40 072 6808
The Finnish-language webcast of the Half-Year Report by the CEO and CFO will start on 12 August 2026 at 12 noon, Finnish time. This is the direct link to the webcast: https://raisio.events.inderes.com/q2-2026
Raisio's financial releases in 2026: Raisio's Interim Report for January-September will be published on 10 November 2026.
RAISIO PLC
Raisio's beloved brands make life more fulfilling for millions of people across Europe. We make food that combines delicious taste and convenience with scientifically proven health benefits in a way that gets people hooked on good habits. Our strong brands, such as Benecol® and Elovena®, turn our ambitions into reality. We stay hungry for growth and we aim to be distinctly more inventive than others. We have around 350 professionals focused on healthy food in six countries and export to more than 40 markets around the world. Raisio's shares are listed on Nasdaq Helsinki Ltd. In 2025, the Group's comparable net sales for continuing operations were EUR 224.2 million and the comparable EBIT was EUR 28.5 million. www.raisio.com