Apetit (APETIT) investor relations material

Executive summary

• Net sales for January–June 2026 increased 2% year-over-year to EUR 84.9 million, but EBIT dropped to EUR -5.8 million from EUR 1.5 million, mainly due to losses in Swedish operations and one-off costs from closing the Pudasjärvi frozen pizza factory.

• Q2 2026 net sales were EUR 38.7 million, down 1% year-over-year, with EBIT at EUR -4.5 million versus EUR -0.8 million.

• Food Solutions segment was impacted by weak Swedish performance and lower exports, while Oilseed Products faced lower sales volumes and unfavorable market conditions.

• A negative profit warning was issued in August 2026, with full-year operating result guidance lowered to EUR -2.0 to +1.0 million.

Financial highlights

• EBITDA for H1 2026 was EUR 0.0 million, down from EUR 5.1 million year-over-year.

• Earnings per share fell to EUR -1.16 from EUR -0.17 year-over-year.

• Net cash flow from operating activities was EUR 11.0 million, down from EUR 13.1 million.

• Investments in H1 2026 totaled EUR 5.9 million.

• Equity per share was EUR 16.03.

Outlook and guidance

• Full-year 2026 operating result is estimated between EUR -2.0 and +1.0 million, revised downward due to weak Swedish pea harvest and ongoing market challenges.

• Profit accrual is expected to focus on the second half due to seasonality.