Apetit (APETIT) Q3 2025 earnings summary

Executive summary

• Operating result declined year-on-year due to acquisition-related expenses, despite slight growth in net sales for both main business segments.

• Acquisition of Foodhills AB in Sweden announced, expected to strengthen market position and increase frozen pea volumes.

• ERP project completed on schedule and within budget, supporting operational efficiency.

Financial highlights

• Net sales for July–September 2025 were EUR 41.4 million, up 2% year-over-year; operating result was EUR 3.2 million, down 12%.

• EBITDA for the quarter was EUR 5.0 million, down 5% year-over-year.

• For January–September 2025, net sales reached EUR 124.4 million (+4%), operating result EUR 4.7 million (-32%), and EBITDA EUR 10.1 million (-14%).

• Profit for the period was EUR 1.2 million, compared to EUR 5.3 million in the previous year.

• Earnings per share for January–September were EUR 0.19, down from EUR 0.85.

Outlook and guidance

• Profit guidance for 2025 unchanged: operating result excluding acquisition impact expected to slightly decrease from 2024 (EUR 9.3 million).

• Significant non-cash accounting impact from the Foodhills acquisition to be recognized in Q4.