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 EBIT improving compared to the previous year.

• Growth was primarily driven by the Feelia segment, despite a significant decline in sales to a major event customer.

• Divestment of the Oikiaruoka.fi e-commerce business and exit from the frozen food business in Kokkola to focus on core operations.

• Investments in production development impacted Feelia's short-term profitability, while Oikia's profitability improved.

• Entry into the Swedish market is underway, with deliveries starting in September 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); adjusted EBIT was EUR 1.4 million (4.9% margin).

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

• Operating cash flow in H1 2026 was EUR 2.2 million, supporting investments of up to EUR 1.6 million.

• Equity ratio stood at 52.4%, with net gearing at 34.5%.

Outlook and guidance

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

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

• Growth expected from new and existing customers, with Swedish market entry supporting future expansion.

• Oikia's own brand sales and profitability anticipated to continue improving.