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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Josef Manner & Comp
Josef Manner & Comp (MAN) investor relations material
Josef Manner & Comp H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary25 Aug, 2026
Executive summary
Revenue declined slightly by 0.9% year-over-year to €138.1m, with export share stable at 60.4%.
Operating result and cash flow deteriorated due to high raw material and personnel costs, and seasonal inventory build-up.
The German market remained stable, while Austria and other international markets saw mixed results.
Innovations included the launch of Manner Crunchies and sustainability progress, such as the use of an E-truck and product carbon footprint calculations.
Financial highlights
Revenue: €138.1m (down 0.9% year-over-year).
Operating result (EBIT): -€664k (down from €3.9m in H1 2025).
Net income: -€2.15m (down from €2.0m in H1 2025).
Operating cash flow: -€3.7m (down from €6.3m in H1 2025).
Equity ratio: 43.0% (down from 46.6% at year-end 2025).
Net debt: €33.5m (up from €20.2m at year-end 2025).
Outlook and guidance
Expectation of continued challenging market conditions and further declines in revenue and earnings for the full year.
Focus remains on cost management, product innovation, and strengthening core markets.
Ongoing risks from raw material availability and geopolitical uncertainties.
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Latest events from Josef Manner & Comp
- Strong profit growth and lower debt in 2024, but 2025 profit faces cocoa price headwinds.MAN
H2 2024 - Revenue and profitability improved in H1 2024, driven by export growth and cost management.MANH1 2024
- Revenue up 5.5%, profits halved on cost surge and impairment, net debt and dividend stable.MANH2 2025
- Revenue and profit rose in H1 2025, but cost pressures and market volatility persist.MANH1 2025
Next Josef Manner & Comp earnings date
H2 202622 Apr, 2027
Josef Manner & Comp
Next Josef Manner & Comp earnings date
H2 202622 Apr, 2027
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