Apetit (APETIT) Q2 2025 earnings summary

Executive summary

• Net sales increased 5% year-over-year to EUR 83.0 million for H1 2025, but operating profit declined 55% to EUR 1.5 million, mainly due to weaker Oilseed Products and labor disruptions.

• Food Solutions saw modest growth in both net sales and volumes, while Oilseed Products experienced a significant profit decline.

• Strategic investment of EUR 2 million announced for Kantvik plant to support BlackGrain production and commercialisation.

• Labor disputes and strikes impacted delivery reliability and profit, especially in Q2.

• ERP project is progressing on schedule, with full Group implementation expected by year-end.

Financial highlights

• H1 2025 EBITDA was EUR 5.1 million, down from EUR 6.5 million in H1 2024.

• Earnings per share for H1 2025 was EUR -0.17, down from EUR 0.32 in H1 2024.

• Net cash flow from operating activities improved to EUR 13.1 million from EUR 6.8 million year-over-year.

• Profit for the period was EUR -1.0 million, down from EUR 2.0 million year-over-year.

• Investments in non-current assets totaled EUR 4.0 million in H1 2025.

Outlook and guidance

• Profit guidance for 2025 remains unchanged: operating result expected to slightly decrease from EUR 9.3 million in 2024.

• Harvest outlook is moderate, with weather conditions impacting frozen peas and oilseed crops.