Fodelia (FODELIA) Q2 2026 earnings summary

Executive summary

• Net sales increased by 7% year-over-year to EUR 28.9 million in H1 2026, with operating profit and margins improving; growth was primarily driven by Feelia, despite a significant decline in sales to a major event customer.

• Oikiaruoka.fi e-commerce business was divested, and Feelia exited the frozen food business in Kokkola to focus on core operations.

• Investments in production development and capacity, including a new autoclave and production line, impacted short-term profitability but support long-term growth.

• Entry into the Swedish market is underway, with deliveries starting in September 2026.

• Comparable net sales from continuing operations rose 8.9% in H1 2026.

Financial highlights

• H1 2026 net sales reached EUR 28.9 million (up 7% year-over-year); Q2 net sales were EUR 14.2 million (up 5%).

• H1 2026 operating profit was EUR 1.3 million (4.7% margin), up from EUR 1.0 million (3.6%) in H1 2025.

• Adjusted EBIT for H1 2026 was EUR 1.4 million (4.9% margin), and adjusted profit was EUR 0.95 million (3.3% margin), up 50% year-over-year.

• Adjusted earnings per share for H1 2026 were EUR 0.12.

• Operating cash flow for H1 2026 was EUR 2.2 million, supporting investments.

Outlook and guidance

• Guidance for 2026 remains unchanged: net sales expected between EUR 59–65 million, with significant improvement in operating profit over 2025.

• Long-term targets include annual net sales growth of 15–20% and operating profit margin above 10% by 2028.

• Second half of the year anticipated to outperform the first half, driven by new and existing customer deliveries and Swedish market entry.

• Continued growth expected in Feelia and Oikia's own brand sales, supporting profitability.