Raisio (RAIKV) Q2 2026 earnings summary

Executive summary

• Net sales for H1 2026 grew 1.0% year-over-year to €113.5M, with Q2 net sales up 2.7% to €56.0M.

• Comparable EBIT for H1 2026 was €13.1M (11.5% of net sales), down 5.6% year-over-year, mainly due to higher marketing costs, ERP project expenses, and a €4.3M impairment.

• Breakfast, Snacking & Food Solutions saw strong growth, with H1 net sales up 6.2% and Q2 up 7.7% year-over-year, driven by Elovena® brand and export demand.

• Heart Health segment experienced a 1.6% decline in H1 net sales and a significant EBIT drop, with Q2 sales down 1.1%, impacted by exchange rates and lower volumes.

• The company maintains its guidance for 2026, expecting both net sales and comparable EBIT to increase versus 2025.

Financial highlights

• H1 2026 net sales: €113.5M (+1.0% y/y); Q2: €56.0M (+2.7% y/y); Comparable EBIT: €13.1M (-5.6% y/y); Q2 comparable EBIT: €5.5M (-22.7% y/y).

• Comparable EBITDA H1: €17.7M (15.6% margin); Q2: €7.9M (14.1% margin).

• EBIT H1: €9.4M (8.3% margin), down 29.9% y/y; Q2: €1.2M (2.1% margin), down 83.5% y/y.

• Earnings per share H1: €0.05 (comparable: €0.07); Q2: €0.01 (comparable: €0.03).

• Cash flow after financial items and taxes H1: €11.6M, down from €14.8M, mainly due to investments in grain raw materials.

Outlook and guidance

• Net sales and comparable EBIT for 2026 are projected to increase versus 2025.

• Dividend policy targets 50-100% payout of earnings per share; €0.15 per share dividend paid for 2025/April 2026.

• Strategic focus remains on boosting sales, strengthening profitability, and executing growth projects.