FDBusiness.com

Raisio, the Finnish food and functional food ingredients group, increased net sales by 17.9% to Eur443.0m in 2010. EBIDTA fell from Eur37.5m (excluding one off items) in 2009 to Eur35.3m last year. EBIT was Eur19.4m (Eur20.5m excluding one-off items), which accounts for 4.4% (5.5%) of net sales, which is in accordance with Raisio’s all-year guidance.

“Raisio is in the middle of the growth phase which we expect to last two years. During the growth phase, we aim to increase net sales and our international activities,” points out Matti Rihko, chief executive of Raisio.”

Matti Rihko, chief executive of Raisio.

In the first half of 2010, Raisio acquired Glisten to enter the snacks and confectionery market in Great Britain. Since its year end, Raisio has acquired Big Bear Group for Eur95.3m to gain a stronger branded foothold in the snacks and breakfast cereals markets in Great-Britain and Western Europe. The acquisition supports Raisio’s growth strategy to become the leading provider of healthy snacks in Europe.

Matti Rihko continues: “We will continue to be active in the acquisitions front. The group’s strong balance sheet and cash flow provide a good foundation for acquisition activities as far as there are suitable companies available fitting our strategy and meeting our preset criteria. During the growth phase, Raisio aims to maintain the earlier 4-5% level of profitability.”

Great-Britain has now become the largest market area for Raisio’s food business with Eur140-150m of net annual sales.