Fodelia (FODELIA) Q1 2025 earnings summary

Executive summary

• Comparable net sales from continuing operations grew 10.3% year-over-year, despite a 1.6% decline in total net sales due to divestments in 2024.

• Profitability declined slightly compared to the previous year, with EBITDA down 13.4% and EBIT down 15%, but improvement is anticipated as the year progresses through efficiency measures and higher sales.

• Feelia's ready-made net sales grew by 15% in a flat or slightly declining market, outperforming the sector.

• Oikia brand sales increased by 35% in Q1, with a focus on brand visibility and profitability, while snack products grew 4.4% driven by own-brand sales.

• Strategic investments and efficiency measures were made in IT, cybersecurity, and sustainability initiatives.

Financial highlights

• Net sales for Q1 2025 were EUR 13.5 million (EUR 13.7 million in Q1 2024), with group comparable net sales up 10.3% year-over-year after adjusting for divested businesses.

• EBITDA was EUR 1.2 million (8.7% of net sales), EBITA EUR 0.7 million (5.6%), and EBIT EUR 0.7 million (5.1%).

• Profit for the period was EUR 0.47 million, down 15.4% year-over-year; earnings per share were EUR 0.06, a 42.4% decrease.

• Return on equity was 14.6% (down from 16.0% in Q1 2024), and return on investment was 16.9% (up from 16.6%).

• Equity ratio improved to 54.8% and net gearing decreased to 23.1%.

Outlook and guidance

• Net sales for 2025 are estimated at EUR 58–63 million, with relative profitability expected to improve year-over-year.

• Growth is expected to accelerate in the latter part of the year, supported by new customers and market expansion.

• Long-term target remains EUR 100 million in net sales by 2028.

• Swedish market entry via Martin & Servera is a significant long-term growth opportunity, though not expected to impact 2025 figures materially.