Fodelia (FODELIA) Q3 2025 earnings summary

Executive summary

• Net sales grew by 6.6% in Q3 and 9.1% year-to-date, reaching EUR 13.5 million for Q3 and EUR 41.5 million year-to-date, mainly driven by Feelia's strong performance despite a weak foodservice market.

• Operating profit margins declined year-over-year, with Q3 EBIT at 6.1% of net sales (EUR 0.8 million) versus 8.1% last year, and year-to-date adjusted EBIT at 4.9%.

• Organizational streamlining, key management hires, and sales team expansion were implemented to drive growth and efficiency.

• Oikia's net sales declined by 6.7% in Q3 and 3.7% year-to-date, with profitability dropping sharply due to lower private label sales and pricing pressures.

• September marked a record month with over EUR 4 million in net sales, driven by all-time high sales in Ready Meals and Delimax products.

Financial highlights

• Q3 comparable net sales: EUR 13.5 million (+6.6% YoY); year-to-date: EUR 41.5 million (+9.1% YoY).

• Q3 EBIT: EUR 0.8 million (6.1% margin), down from EUR 1 million (8.1%) last year.

• Adjusted EBITDA for Q3: EUR 888,000 (6.6% margin), down from EUR 1.1 million (8.8%) last year.

• Adjusted EBITDA for Jan–Sep: EUR 3.5 million (8.6% margin), down 10.9% YoY.

• Adjusted profit for Jan–Sep: EUR 1.2 million (2.9% margin), with adjusted EPS at EUR 0.2.

Outlook and guidance

• 2025 net sales are estimated at EUR 54–59 million, revised down from EUR 58–63 million.

• Adjusted operating profit margin is expected to remain at or slightly below the previous year's level.

• Focus is on long-term profitable growth, with a target to reach annual net sales of EUR 90–100 million by 2028.

• Management expects growth to accelerate after internal process improvements and investments in sales capabilities.