Fodelia (FODELIA) Q1 2025 earnings summary

Executive summary

• Comparable net sales from continuing operations grew 10.3% year-over-year to €13.5 million, outpacing a flat or slightly declining foodservice market, with growth expected to accelerate toward year-end.

• Profitability declined slightly compared to the previous year due to higher raw material, production, and temporary labor costs, but improvement is anticipated as the year progresses with efficiency measures.

• Feelia's ready-made net sales grew by 15% in a flat market, while Oikia's snacks grew 4–35% depending on the product line, with a focus on brand visibility and profitability.

• Strategic investments were made in IT, cybersecurity, and sustainability initiatives, including SBTi target setting.

• Major entry into the Swedish market via partnership with Martin & Servera, seen as a long-term growth opportunity.

Financial highlights

• Group comparable net sales for Q1 were €13.5 million, up 10.3% year-over-year after adjusting for divested businesses.

• EBIT was €0.7 million (5.1% margin), down from €0.8 million (5.9%) year-over-year; EBITDA was €1.2 million (8.7% margin), and profit for the period was €0.5 million.

• Earnings per share fell to €0.06 from €0.10 year-over-year.

• Feelia's net sales reached €10.7 million, up 12.8% year-over-year; Oikia's continuing operations net sales were €3.0 million, with operating profit up 9.8%.

• Return on invested capital was 16.9%, and return on equity was 14.6%.

Outlook and guidance

• Net sales for 2025 are expected at €58–63 million, with improved operating profit margin versus 2024; long-term target is €100 million net sales and ROIC above 10% by 2028.

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

• Swedish market entry is not expected to materially impact 2025 figures but is a significant long-term opportunity.

• Dividend policy aims to distribute at least 35% of annual profit.