Apetit (APETIT) Q3 2026 earnings summary

Executive summary

• Q3 operating result rose to €5.0m from €3.2m, driven by strong Food Solutions performance; 9M operating result was -€0.9m versus €4.7m.

• 9M net sales increased 1% to €126.1m, while EBITDA fell 27% to €7.4m.

Financial highlights

• Q3 net sales were €41.3m versus €41.4m; EBITDA increased 47% to €7.4m.

• Q3 profit was €3.7m versus €2.2m, and EPS was €0.59 versus €0.35.

• 9M profit was -€3.6m versus €1.2m; EPS was -€0.57 versus €0.19.

• 9M share of Sucros profit was -€1.6m versus -€2.2m.

Outlook and guidance

• FY2026 operating result guidance is -€2.0m to +€1.0m, updated 12 August; FY2025 was €5.9m excluding the non-recurring Foodhills acquisition impact.

• Finnish harvest outlook is very good: a record-high frozen pea crop was achieved, and root vegetable harvest quality and quantity outlook remained good.

• The Swedish contract pea crop fell short of targets after a hot, dry summer; frozen pea harvest production is highly seasonal and concentrated in Q3.

• Automated finished-goods warehouse is expected to be completed in early 2027; transition to frozen pizza contract manufacturing is on schedule, with benefits expected next FY.