Finnish plant-based nutrition company Raisio – whose brands include Benecol and Honey Monster – has announced what it says are its best-ever quarterly results. Although sales were broadly flat at €148.6 million, EBIT was up from 7.1% to 7.4% at €11 million.
Sales for the first half were down from €285.6 million to €276.9 million, but EBIT for the half was up to 6.9% vs. the prior year corresponding period’s 6.1%.
“The second-quarter 2013 EBIT was Raisio's all-time best quarterly result,” said CEO Matti Rihko. “Improved result in the economically challenging times and rapidly changing markets requires commitment and strong expertise from all of us at Raisio.”
“Moreover, Raisioagro’s clear profit improvement was very positive,” he continued. “In the extremely competitive Finnish feed and farming supplies market, this achievement is the result of hard work. Our Benemilk feeds are well established in the Finnish market and in the autumn, we are going to expand Benemilk’s product range and customer potential. Several international operators have also shown interest in the Benemilk feeds.”
“Co-operation between Raisio and Intellectual Ventures is proceeding well, as expected. Our scientific co-operation during the second quarter spawned a significant amount of inventions strengthening and further developing Benemilk concept. We are filing patent applications for some of these inventions. After the review period, Raisio announced that Benemilk patent process is proceeding on schedule as certain initial Benemilk-related patent applications became public on 1 August 2013. Benemilk Oy has filed a total of 10 new international patent applications related to the Benemilk invention by 31 July 2013. New patent applications will complement the already pending applications filed in early 2012. Benemilk Oy also has plans to file further patent applications by the end of 2013. This could potentially double the number of patent applications.”
Raisio said that it continues to expect solid improvement in EBIT over 2012.
Sales for the first half were down from €285.6 million to €276.9 million, but EBIT for the half was up to 6.9% vs. the prior year corresponding period’s 6.1%.
“The second-quarter 2013 EBIT was Raisio's all-time best quarterly result,” said CEO Matti Rihko. “Improved result in the economically challenging times and rapidly changing markets requires commitment and strong expertise from all of us at Raisio.”
“Moreover, Raisioagro’s clear profit improvement was very positive,” he continued. “In the extremely competitive Finnish feed and farming supplies market, this achievement is the result of hard work. Our Benemilk feeds are well established in the Finnish market and in the autumn, we are going to expand Benemilk’s product range and customer potential. Several international operators have also shown interest in the Benemilk feeds.”
“Co-operation between Raisio and Intellectual Ventures is proceeding well, as expected. Our scientific co-operation during the second quarter spawned a significant amount of inventions strengthening and further developing Benemilk concept. We are filing patent applications for some of these inventions. After the review period, Raisio announced that Benemilk patent process is proceeding on schedule as certain initial Benemilk-related patent applications became public on 1 August 2013. Benemilk Oy has filed a total of 10 new international patent applications related to the Benemilk invention by 31 July 2013. New patent applications will complement the already pending applications filed in early 2012. Benemilk Oy also has plans to file further patent applications by the end of 2013. This could potentially double the number of patent applications.”
Raisio said that it continues to expect solid improvement in EBIT over 2012.
