Fodelia (FODELIA) Q3 2025 earnings summary

Executive summary

• Comparable revenue grew 9.1% year-over-year to €40.5 million for January–September 2025, with Q3 revenue up 6.6% to €13.5 million compared to Q3 2024.

• Adjusted operating profit for the period was €2.0 million (4.9% margin), down from €2.4 million (5.9%) year-over-year.

• Growth was slower than targeted due to weak Foodservice market development.

• Organizational restructuring and key recruitments in sales, production, and HR advanced as planned to support growth and efficiency.

• Structural changes and operational development focused on sales growth and efficiency for sustainable value creation.

Financial highlights

• Adjusted EBITDA for January–September was €3.5 million (8.6% of revenue), down 10.9% year-over-year.

• Adjusted EBITA was €2.2 million (5.3% margin), down 18.5% year-over-year.

• Adjusted net profit for the period was €1.2 million (2.9% of revenue), down 10.8% year-over-year.

• Q3 adjusted operating profit was €0.8 million (6.1% margin), down from €1.0 million (8.1%) in Q3 2024.

• Q3 EBITDA was €1.3 million (9.9% of revenue), down from €1.5 million (11.9%) in Q3 2024.

Outlook and guidance

• 2025 revenue is expected to be €54–59 million, with adjusted operating margin at or slightly below last year’s level.

• Guidance was revised downward in July due to underperformance in the first half and Oikia’s profitability decline.

• Long-term targets: €100 million revenue and >10% operating margin by 2028, with a dividend payout of at least 35% of profit.