The year began with a strong improvement in earnings

FINANCIAL DEVELOPMENT IN BRIEF

JANUARY-MARCH 2026, CONTINUING OPERATIONS

• The Group's net sales totalled EUR 57.5 (57.8) million, which signified a decrease of 0.7%.
• Comparable EBITDA was EUR 9.8* (8.5*) million, which accounted for 17.0% (14.7%) of net sales.
• EBITDA was EUR 10.5** (8.5) million, which accounted for 18.2% (14.8%) of net sales.
• Comparable EBIT was EUR 7.5* (6.1*) million, accounting for 13.1% (10.6%) of net sales.
• EBIT was EUR 8.2** (6.1) million, which accounted for 14.3% (10.6%) of net sales.
• The Group's cash flow from continuing operations after financial items and taxes totalled EUR 8.3 (7.6) million.
• The comparable return on invested capital (ROIC) was 11.3% (10.1%) and the return on invested capital (ROIC) was 12.7% (10.1%).
• Comparable earnings per share were EUR 0.04 (0.03) per share.
• Earnings per share were EUR 0.04 (0.03) per share.

*Comparable EBITDA and EBIT for the review period include a reversal of a provision of EUR 0.1 (0.3) million for a retrospective payment to the authorities.

**EBITDA and EBIT for the review period include proceeds of EUR 0.7 million from the sale of the Honey Monster brand.

CEO PASI FLINKMAN:

Last year, we laid the groundwork for growth in line with our strategy, and we have now moved on to the phase of accelerating that growth. Breakfast, Snacking & Food Solutions continued its strong performance in terms of both growth and profitability. In the Heart Health business unit, the launch of Benecol® yoghurt drinks in Spain in late March marks a significant milestone for the growth of the Benecol® brand. Investments in innovation, capacity and the development of operating models to support quality, speed, capabilities and competitiveness also progressed as planned. For example, the significance of our ERP project to reform our enterprise resource planning system lies not only in the system overhaul itself, but also in the fact that it will help us build a clearer, more unified, more scalable and more manageable foundation for Raisio's growth.

The first quarter of 2026 was a strong one for Raisio in terms of results, but sales growth fell short of our target. The Group's net sales were EUR 57.5 (57.8) million, which was almost on a par with the comparison period. The Group's net sales showed slight growth, when excluding the plant protein business sold during the comparison period. At the same time, profitability also improved clearly, even though the quarter's results were weighed down by significant project costs associated with the ERP renewal. Comparable EBIT rose to EUR 7.5 (6.1) million, representing 13.1% (10.6%) of net sales. Cash flow from business operations after financial items and taxes also remained strong at EUR 8.3 (7.6) million. This shows that we have succeeded in improving the quality and efficiency of our operations while implementing our strategy and facilitating growth.

Uncertainty in the external operating environment persisted during the first quarter. Consumer confidence remained fragile, and geopolitical uncertainty increased long-term cost pressures, particularly for energy, logistics and packaging materials. So far, the impact on Raisio has been mainly indirect and is mitigated in part by our preparedness, our contract structures and our ability to pass on any necessary price increases to the market.

Sales in the Brands & Industrial segment increased by 1.1%. Breakfast, Snacking & Food Solutions continued its strong performance in terms of both growth and profitability, now under the leadership of our new Chief Business Officer who started in February . The unit's net sales grew by 4.8% to EUR 27.3 (26.0) million. This growth was driven in particular by the good development of consumer sales in Finland, the growth of the Elovena® brand by almost 11% and the development efforts launched in Food Solutions towards the end of last year. The unit's comparable EBIT improved significantly. This was supported by growth in the consumer business, cost benefits in production and the prices of key raw materials. A survey measuring consumer perceptions ranked the Elovena® brand once again as Finland's most sustainable brand in March, a testament to the brand's long-term development and its strong position in the daily lives of Finns. Indeed, Elovena® is more than just a strong driver of growth for us. It is also proof that it is possible to simultaneously strengthen a brand commercially and make it more meaningful to consumers.

The Heart Health unit's performance in the first quarter was below our expectations. The unit's net sales fell by 2.0% to EUR 29.3 (29.9) million. It performed strongly in Finland, and its sales also increased in the local currency in the United Kingdom. However, the unit's performance in euros was weighed down by the weakening of the pound, subdued performance in some smaller markets and the timing of industrial sales. The unfavourable development of exchange rates during the quarter also affected the unit's profitability. The overall performance of the Heart Health unit at the beginning of the year left something to be desired, but the business foundation is solid, the direction is clear and the measures implemented at the beginning of the year will support improvements in both sales and profitability as the year progresses.

The implementation of the strategy proceeded as planned during the review period. The first quarter supports our view that Raisio's ability to generate earnings has strengthened and that we are well positioned to grow our business in line with our strategy. Our guidance for 2026 remains unchanged, and we expect both net sales and comparable EBIT to grow compared to 2025.
 

OUTLOOK 2026

Raisio projects the net sales and comparable EBIT for continuing operations for the financial year 2026 to increase compared to 2025.

In Raisio, Finland, 11 May 2026
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 12 May 2026 at 12 noon, Finnish time. This is the direct link to the webcast: https://raisio.events.inderes.com/q1-2026

Raisio's financial releases in 2026:

· Raisio's Half-Year Financial Report for January-June will be published on 12 August 2026.
· Raisio's Interim Report for January-September will be published on 10 November 2026.

RAISIO PLC
At Raisio, we make delicious food that promotes healthier eating. 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. We make the choice easy for consumers: we ensure that our products are responsible from different perspectives, so that consumers can choose our products with confidence. We have around 350 healthy food colleagues in six countries and export to more than 40 markets around the world. Raisio's shares are listed on Nasdaq Helsinki Ltd. In 2025, the Group's comparable net sales for continuing operations were EUR 224.2 million and the comparable EBIT was EUR 28.5 million. www.raisio.com