Raisio Interim Report January-September 2012

Transcription

1 Raisio Interim Report January-September 2012 CEO Matti Rihko and CFO Jyrki Paappa 6 November 2012 Q3/2012

2 Q3/2012: Earnings per share improved (Continuing operations, excluding one-off items) Net sales M vs M EBIT 10.7 M vs M EPS 0.06 vs In the Brands Division, profitability in line with objectives Almost 40% net sales increase for feeds and farming supplies Loss of feed protein business halved Measures to increase productivity and flexibility in progress 2

3 Q1-Q3/2012: Improved net sales and EBIT Net sales increased +8% M vs M EBIT improved +4% 28.0 M vs M * EPS improved 0.14 vs * Brands Division s EBIT improved +21% EBIT 11.8% vs. 10.5% of net sales * * = excluding one-off items 3

4 Group net sales improved +14% M Continuing operations Brands Raisioagro 4

5 Group EBIT improved M Continuing operations, excluding one-off items

6 Key figures, result Q3/ 2012 Q3/ 2011 Q1-Q3/ 2012 Q1-Q3/ Net sales M Change in net sales % EBIT M EBIT % Depreciation and impairment M EBITDA M Net financial expenses Earnings per share (EPS) M Excluding one-off items 6

7 Key figures, balance sheet Q3/ 2012 Q3/ 2011 Q1-Q3/ 2012 Q1-Q3/ Equity ratio % Gearing % Net interest-bearing debt M Equity per share Gross investments M * 68.6* 71.2* SHARE Market capitalisation** M Enterprise value (EV) M EV/EBITDA *Including acquisitions **Excluding the shares held by the company 7

8 Divisions key figures Q3/2012 (excluding one-off items) Brands Net sales 86.2 M (81.5 M ) 56% of the Group s net sales EBIT 9.7 M (10.4 M ) EBIT 11.3% (12.8%) of net sales Raisioagro Net sales 75.0 M (60.5 M ) 44% of the Group s net sales EBIT 1.2 M (0.4 M ) EBIT 1.6% (0.7%) of net sales 8

9 Brands 9

10 Brands: Net sales increased +7% M %

11 Brands: EBIT increased +21% M Excluding one-off items % % EBIT EBIT % 11

12 Brands: EBIT 11.8% % Excluding one-off items EBIT % of net sales 12

13 Consumer brands: Growth in tough consumer market Net sales growth of +5% The UK already half of the Brands Division's net sales In Finland, sales in consumer products at comparison year's level In Eastern Europe, net sales growth of +54% Strong growth for Nordic brand in Russia In Finland, Raisio has started measures to improve competitiveness and cost-effectiveness and to renew the product portfolio 13

14 Poppets sales development in the UK 5-10/2011 vs. 5-10/2012 M % Cartons New Packs 14

15 Licensed brands: Benecol s profitability good and steady Finland showed the highest sales growth for Benecol products Consumers have confidence in the efficacy of plant stanol ester and Finnish innovation Market leader position of Benecol products strengthened in the UK Advertising boosted sales growth in Thailand, Chile and Indonesia Big differences in sales development between different European markets due to economic uncertainty 15

16 Raisio knows how to develop the brand Raisio itself responsible for the sales and marketing of Benecol margarines in Finland, Poland and Estonia, starting from 17 October

17 Raisioagro 17

18 Raisioagro s net sales increased +7% M % 50 0 Net sales 18

19 Raisioagro s EBIT: Loss of feed protein business halved M EBIT 19

20 Q3/2012: Raisioagro s profitability improved In feeds and farming supplies, net sales rose by almost 40% and profitability improved Good sales season in fish feeds is ending Growth in cattle and poultry feeds sales Market position in Finnish feed market at comparison period s level Loss of feed protein business halved Steps taken to enhance production and to improve profitability and flexibility Finnish rapeseed harvest exceptionally low Organic feed deliveries throughout the country started in October 20

21 Maituri E Benemilk Roadshow in Finland Already 300 Finnish milk farms use regularly our Maituri E Benemilk feed Positive experiences from farmers More Milk More Fat More Protein Less Greenhouse Gas Emissions 13 events around Finland Maituri E raising producers interest Higher income for dairy farmers Total satisfaction guaranteed program 21

22 Guidance 2012 unchanged Raisio continues the implementation of its growth strategy both organically and through acquisitions. We expect EBIT to improve further annually. 22

23 Raisio s opportunities Streamlining of operations and restructuring in progress Statutory cooperation negotiations in Finland completed early December Growth through successful acquisitions Raisio active on the acquisition front Greater supply than before With the current structure, it is possible to achieve EBIT of EUR 40 million over the next few years Investment in Maituri E Benemilk innovation continues Patent process ongoing New studies also with different cattle breeds and feeding models Assessment of alternative business models 23

24 Group: Net Sales (Continuing operations, rolling 12 months) M Q3/

25 Group: EBIT (Continuing operations, rolling 12 months) M Q3/2012 Excluding one-off items 25