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Edge12 Dec 2025
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Solar Foods (SFOODS) investor relations material
Solar Foods H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary14 Aug, 2025
Executive summary
Transitioned from technology innovator to commercial operations, securing first U.S. and Italy supply agreements, MoUs for 6,000 tonnes/year Solein commercialization, and expanding into health and performance nutrition markets.
Launched Solein-powered products with partners in the U.S., Italy, Finland, and Japan, demonstrating strong B2B and consumer acceptance.
Successfully scaled production technology 100-fold at Factory 01, validating industrial-scale parameters and supporting Factory 02 profitability.
Initiated pre-engineering for Factory 02, with phased construction and potential for multiple facilities at one site to de-risk investment and meet demand.
Management team restructured, including new CEO appointment, to support growth and accelerate go-to-market.
Financial highlights
Operating loss for H1 2025 was EUR 4.8 million, up from EUR 4.4 million year-over-year; total loss for the period was EUR 5.4 million, improved from EUR 5.7 million.
Cash and cash equivalents at period end were EUR 12.7 million, down from EUR 24.2 million year-over-year.
Equity ratio at period end was 46%, down from 51% year-over-year; net gearing at 31%, up from -12%.
Order book reached EUR 1.5 million, reflecting new supply agreements.
Personnel increased to 57 from 40 year-over-year.
Outlook and guidance
Factory 02's first phase targeted for production in 2028, aiming for 3.2 kilotons output and EUR 50 million revenue.
Full strategy period (2025–2030) capital requirement estimated at EUR 100 million to EUR 200 million with partners, with modular factory expansion planned.
Focus on securing sales agreements for Factory 01 and building order book for Factory 02, especially in the U.S. health and performance protein market.
Factory 02 investment decision expected in 2026; first U.S. consumer products anticipated in H2 2025.
No separate short-term financial guidance provided; existing financial targets maintained.
What is the estimated EBITDA by 2030?
Assess potential impact of covenant breach in Q2 2026.
Outline changes to responsibilities of management team.
How will Solein capitalize on whey protein gap?
What drives Factory 2's global site selection?
How will restructuring accelerate go-to-market?
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Next Solar Foods earnings date
H2 202526 Feb, 2026
Next Solar Foods earnings date
H2 202526 Feb, 2026
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Frequently asked questions
Solar Foods Oyj is a food technology company focused on the development and production of sustainable protein ingredients. Using innovative bioprocessing technology, the company produces a unique, microbial-based protein called Solein, which is made by fermenting carbon dioxide, water, and electricity, offering a low-environmental-impact alternative to traditional agricultural proteins. Solar Foods aims to address global food sustainability challenges by supplying ingredients for various applications in the food industry, including plant-based foods and alternative proteins. The company is headquartered in Helsinki, Finland, and its shares are listed on the Helsinki Stock Exchange.
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