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Raisioagro helps its customers produce healthy food for consumers sustainably, effectively and profitably, promoting animal welfare. Strong feeding expertise as well as innovative and ecological feeds for milk production and fish farming are at the core of Raisioagro’s operations. Raisioagro’s innovations and expertise create added value to customers.

Main events

  • Net working capital decreased by almost 50% due to enhanced management of raw materials and stocks.
  • Average return on restricted capital 11.4%
  • Dairy farms continued their shift to more affordable feeds.
  • Already 130 farms within the milking robot monitoring. With the monitoring, the average milk yield of cows has already increased by some six per cent.
  • Strong investment in digital services and their development continued.
  • Launch of three new Benemilk products for TMR feeding, which is increasingly common at dairy milk farms.  
  • In the summer 2016, Raisioaqua launched Baltic Blend fish feeds and strengthened its position as a forerunner in the environmentally friendly fish farming in Finland and Northwest Russia.
  • Distribution of sustainably produced, eco-friendly Benella fish expanded in Finland.
  • Launch of new feeds for horses and for additional feeding of deer.

Financial review

Raisioagro’s net sales totalled EUR 126.6 (145.9) million. Despite the net sales decline, the Division clearly improved its relative profitability. Net sales were down primarily due to lower fertiliser sales, milk farmers’ shift to more affordable feeds and lower grain exports.

Raisioagro’s EBIT improved +0.9 M€

Raisioagro’s comparable EBIT was EUR 3.7 (2.8) million. EBIT totalled EUR 3.7 (2.4) million. The key factors behind the EBIT improvement were the successful development and launch of new products in line with customer needs, and improved production and material efficiency.

Raisioagro’s net working capital at the turn of the year decreased by almost 50 per cent, totalling EUR 5.8 (11.3) million. The decrease in net working capital was particularly due to improved raw material and stock management in both the fish feed business and cattle feed business.

Raisioagro’s average return on restricted capital increased to 11.4 per cent due to decreased net working capital and improved profitability.


Raisioagro consists of three business areas: Cattle feeds and farming supplies, fish feeds and grain trade.

Raisioagro continued its investment in Internet of Farming

In cattle feeds, Raisioagro did not get involved in the aggressive price competition but focused on improving of its operations, on developing of the product range meeting customer needs and on digital services.

In Finland, milk farmers’ challenges continued due to the import ban imposed earlier by Russia on dairy products and the subsequent drop in the producer price of milk. Benemilk feeds are mainly used at the robotic milking farms where farmers are satisfied with the added value of their milk production. 

Raisioagro continued its strong investment in the development of digital services. With these services, customers can make better use of the company's advanced feeding skills.

Raw material used in Raisioaqua’s Baltic Blend fish feeds is fishmeal and oil processed in Finland and made from herring and sprat of the Baltic Sea. With the Baltic Blend feeds, nutrients are not brought to the Baltic Sea from elsewhere. Raisioaqua’s forerunner position in fish feeds is based on close cooperation with fish farmers and on innovations in line with sustainable development.

Benella is sustainably farmed Finnish rainbow trout at its best.

The entry of Benella rainbow trout to the Finnish kitchens was boosted significantly as Kesko started its distribution in October 2016. 

Grain exports were clearly down from the comparison year. The global grain market was oversupplied, which significantly weakened grain export and its profitability. 

Key figures for the Raisioagro Division

    Q4/2016 Q3/2016 Q2/2016 Q1/2016 2016 2015
Net sales M€ 24.7 37.1 37.7 27.1 126.6 145.9
EBIT M€ 0.0 2.3 1.4 0.0 3.7 2.4
   EBIT % 0.0 6.1 3.8 -0.1 2.9 1.6
Items affecting comparability M€ 0.0 0.0 0.0 0.0 0.0 0.4
Comparable EBIT M€ 0.0 2.3 1.4 0.0 3.7 2.8
   Comparable EBIT % 0.0 6.1 3.8 -0.1 2.9 1.9