Raisio (RAIKV) Q3 2025 earnings summary

Executive summary

• Profitability improved significantly in Q3 2025, driven by growth in consumer brands, supply chain cost benefits, and efficiency gains, with comparable EBITDA up nearly 20% and ROIC approaching 13%.

• Net sales declined 4.2% in Q3 and 1.7% for the nine months, mainly due to lower B2B and grain trading volumes, but Elovena® and Benecol® brands showed notable growth.

• Divestment of the plant protein business reduced net sales but improved earnings and EBIT.

• Strategic focus remains on efficiency, innovation, targeted investments, and international expansion.

Financial highlights

• Q3 2025 net sales: €56.7M (-4.2% YoY); 1-9/2025: €169.0M (-1.7% YoY); comparable EBIT Q3: €11.0M (+32% YoY); 1-9/2025: €29.7M (+24.4% YoY).

• Comparable EBITDA Q3: up 22% YoY; 1-9/2025: €29.7M (17.6% margin, +15.7% YoY).

• Earnings per share (EPS) for January–September 2025 rose to €0.12 from €0.10 year-over-year (+31.9% YoY).

• Cash flow from operations 1-9/2025: €23.7M, decreased due to increased raw material stock levels.

Outlook and guidance

• Comparable EBIT for continuing operations in 2025 is projected to increase compared to 2024.

• Dividend policy remains unchanged, targeting 50–100% of EPS as annual dividends.