Raisio PLC: Financial Statements Bulletin 2023

Raisio / FI. (rg) Finland’s Raisio Group announced its financial results for 12M-2023, the period from January to December. The Group’s net sales totalled EUR 219.5 (220.8) million, which signified a decrease of 0.6 percent. Chief Executive Pekka Kuusniemi: «Net sales in 2023 were roughly at the previous year’s level, at EUR 219.5 million (220.8). At the same time, despite significant changes in volumes, we were able to improve profitability significantly: comparable EBIT was EUR 22.7 (18.4) million, accounting for 10.4 (8.3) percent of net sales. Operational efficiency and price discipline were key to maintaining costs at the previous year’s level, despite inflationary pressures. Raisio’s cash flow was very strong at EUR 37.0 (11.2) million. Similarly, comparable return on invested capital improved to 9.2 (5.6) percent.»

«The sharp fall in consumer purchasing power due to high inflation and rising interest rates caused major changes in the market environment during 2023. Volumes fell and demand shifted to less expensive products; in particular, supermarkets’ own-brand products grew at the expense of branded products. Raisio’s focus is on innovative, healthy and responsible branded products, and the market proved surprisingly challenging for us.» For additional info please read the Company’s PDF file below (389 KB):