HKFoods (HKSAV) Q1 2026 earnings summary

Executive summary

• Net sales increased by 3.8% year-over-year to €242.5 million in Q1 2026, with strong growth in Finnish retail and food service channels and improved EBIT and profit for the period.

• Comparable EBIT from continuing operations improved for the 13th consecutive quarter, rising 23.7% to €5.7 million, representing 2.4% of net sales.

• Profit for the period rose to €2.8 million, driven by improved EBIT and lower financing costs.

• Sales of own brands (HKⓇ, KariniemenⓇ) grew across all main product groups, especially in pork and ready meals.

• Efficiency programs and improved production offset some cost increases, but higher beef, salary, and energy costs pressured margins.

Financial highlights

• Net sales: €242.5 million in Q1 2026, up from €233.7 million in Q1 2025.

• Comparable EBIT: €5.7 million, up 23.7% year-over-year, 2.4% of net sales.

• Profit for the period: €2.8 million, up from €0.8 million in Q1 2025.

• EBITDA: €12.7 million, up from €12.1 million year-over-year.

• EPS: €0.02; Comparable EPS: €0.03.

Outlook and guidance

• 2026 outlook unchanged: Comparable EBIT expected to grow compared to 2025.

• Long-term targets updated: EBIT over 5% of net sales, ROCE over 12%, net gearing below 80%, dividend over 50% of net profit.