Raisio (RAIKV) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 increased by 3.3% year-over-year to €226.8 million, driven by strong brands and new product launches, especially in the Healthy Food segment.

• Profitability was under pressure in B2B due to lower grain prices and fierce competition, but consumer markets in Finland and the UK saw clear net sales growth.

• Comparable EBIT increased 3.0% to €33.3 million; EBIT margin at 8.8% of net sales; profitability remained stable despite market challenges.

• Volume growth was 9% year-over-year, with international markets accounting for half of net sales.

• Raisio signed an agreement to sell its plant protein business and Härkis®/Beanit® brands to Valio for €7 million, with transfer expected in March 2025.

Financial highlights

• Comparable EBIT for 2024 rose 3.0% to €33.3 million; comparable EBITDA up 1.6% to €32.8 million year-over-year.

• Q4 2024 net sales grew 1.2% year-over-year, but comparable EBIT fell 4.5% and EBITDA dropped 5.5% due to B2B margin pressure.

• Cash flow from operations after financial items and taxes increased 6.1% to €39.3 million; net interest-bearing debt decreased to -€70.1 million.

• Comparable EPS remained at €0.13; equity ratio stable at 80.3%.

• Investments totaled €7.4 million, mainly in packaging and process efficiency.

Outlook and guidance

• Raisio projects comparable EBIT for continuing operations to increase in 2025 compared to 2024.

• Economic recovery is expected in the second half of 2025, with megatrends in sustainability and well-being supporting growth.

• Board proposes a dividend of €0.14 per share for 2024 (basic €0.11, supplementary €0.03), aiming for steady annual dividends through 2025.