Raisio (RAIKV) Q4 2025 earnings summary

Executive summary

• Profitability improved significantly in 2025, with comparable EBIT rising 21.6% to €40.7 million, driven by operational efficiency, strategic focus on core brands, and divestment of the plant protein business.

• Net sales for 2025 decreased by 1.1% year-over-year to €224.2 million, but Q4 saw a return to slight growth.

• The Elovena® brand grew strongly in Finland, up 14% in Q4, and Benecol® sales increased slightly, though UK sales were impacted by currency rates.

• Organizational restructuring and investments in R&D, digitalization, and new product launches supported future growth.

• The company maintained a strong balance sheet, enabling flexibility for future investments and growth.

Financial highlights

• Comparable EBIT rose 21.6% to €40.7 million, and comparable EBITDA increased 13.3% to €37.8 million.

• Return on invested capital improved by 23% to 11.6%, and comparable EPS increased by 15% to €0.15.

• Cash flow from operations decreased to €27.5 million due to inventory replenishment.

• Net interest-bearing debt was -€76.1 million, and the equity ratio remained strong at 80%.

• Board proposes a dividend of €0.15 per share, up from €0.14, maintaining a payout policy of 50-100% of EPS.

Outlook and guidance

• Guidance for 2026 anticipates growth in both net sales and comparable EBIT compared to 2025.

• Positive development is sought from both main business units, with balanced contributions expected.