Raisio Plc's Interim Report, May 13, 2025 at 8.30 a.m. Finnish time

Off to a good start in the new strategy period 2025−2027

FINANCIAL DEVELOPMENT IN BRIEF

JANUARY-MARCH 2025, CONTINUING OPERATIONS

· The Group's net sales totalled EUR 57.8 (55.5) million, which signified a growth of 4.2%.
· Comparable EBITDA was EUR 8.5* (6.8) million, which accounted for 14.7% (12.3%) of net sales.
· EBITDA was EUR 8.5 (6.1**) million, which accounted for 14.8% (11.0%) of net sales.
· Comparable EBIT was EUR 6.1* (4.2) million, accounting for 10.6% (7.6%) of net sales.
· EBIT was EUR 6.1 (3.6**) million, which accounted for 10.6% (6.4%) of net sales.
· The Group's cash flow from continuing operations after financial items and taxes totalled EUR 7.6 (8.5) million.
· The comparable return on invested capital (ROIC) was 10.1% (7.4%) and the return on invested capital (ROIC) was 10.1% (6.3%).
· Comparable earnings per share were EUR 0.03 (0.03) per share.
· Earnings per share were EUR 0.03 (0.02) per share.

*Comparable EBITDA and EBIT for the review period include a reversal of a provision of EUR 0.3 million for a retrospective payment to the authorities, which has a positive impact on the result.

**EBITDA and EBIT for the comparison period include EUR 0.6 million in costs related to business expansion and EUR 0.1 million in costs related to reorganisation.

CEO PASI FLINKMAN:

We are off to a good start in 2025

Raisio's operating environment has been stable despite macroeconomic and trade policy challenges. Food prices rose in all of our main markets during the first quarter, which weakened the overall volume development in the markets. Overall, however, the food industry is stable and the impact of economic cycles is limited. In line with our strategy, our main focus is on Europe, and we are not dependent on the US or Chinese markets. The direct impact of potential tariffs on our business is likely to be muted, but the indirect effects may have some significance for Raisio's business.

The 4.2% growth in the first quarter is faster than the overall market development, which is in line with our targets, and we have continued to increase our market share. The growth is mainly attributable to the volume growth of our largest brands, Benecol® and Elovena®, in our main markets. In the B2B market in Finland, strikes in the bakery industry slowed down sales development, while exports performed well.

EBITDA also developed positively, particularly thanks to our sales mix and the efficiency measures launched in the second half of last year.

We continued to increase our investments in our main brands, which developed very well as a result. Additionally, Finnish consumers voted Elovena® the most sustainable brand in Finland for the second year in a row in the Sustainable Brand Index 2025 survey.

The growth in comparable EBIT slightly exceeded our expectations in the first quarter: 44% compared to the comparison period. In addition to our solid basic operations and continuous improvement, the quarter's result was boosted by the strong early-year development of the Elovena® and Benecol® brands and the favourable timing of plant stanol ester deliveries. We are expecting fluctuations throughout the quarters of this year, but our outlook for the overall annual performance remains positive.

Implementation of new strategy underway

In March, we announced our new strategy. Within our existing categories, we are seeking growth particularly in breakfast and snack products and heart-healthy products. In addition to these, we are seeking growth from new business opportunities, which constitute the company's third growth area. To ensure the efficient use of resources and focus on the growth areas identified in our strategy, we divested our plant protein business. The deal was closed right at the end of the first quarter and did not have any material impact on the results for the quarter. The sale of a loss-making business will naturally improve the Group's operational result.

As part of the implementation of our strategy, we launched an organisational reform in March to ensure that our management and performance responsibilities support the implementation of our strategy and that we have the necessary expertise and resources to carry out our strategy.

We will present our new strategy at the Capital Markets Day on 27 May 2025. For more information on the Capital Markets Day, visit our website at www.raisio.com.

OUTLOOK 2025

Raisio projects the comparable EBIT for continuing operations for the financial year 2025 to increase compared to 2024.

In Raisio, Finland  12 May, 2025
Raisio plc
Board of Directors

Further information:
Pasi Flinkman, CEO, tel. +358 400 819 947
Mika Saarinen, CFO, tel. +358 40 072 6808

The Finnish-language webcast of the Interim Report by the CEO and CFO will start on 13 May 2025 at 12.00 noon, Finnish time. This is the direct link to the webcast: https://raisio.events.inderes.com/q1-2025

Raisio plc's financial releases in 2025:

Raisio's Half-Year Financial Report for January-June will be published on 12 August 2025.
Raisio's Interim Report for January-September will be published on 11 November 2025.

RAISIO PLC
​​​​​At Raisio, we make food from the heart, with the aim of bringing health to ourselves and the Earth. We make a healthier and happier world around us by innovating and winning the hearts of our consumers. We do not work alone; instead, we rely on our cooperation networks at every stage. Our strong brands, such as Benecol® and Elovena®, turn our ambitions into reality. Through our responsibility work, we make the hard choices for consumers, so that they can choose Raisio products with confidence. We have around 350 healthy food colleagues in seven countries and export to more than 40 markets around the world. Raisio's shares are listed on Nasdaq Helsinki Ltd. In 2024, the Group's comparable net sales for continuing operations were EUR 226.8 million and the comparable EBIT was EUR 23.4 million. www.raisio.com