Hortifrut (HF-B) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 reached $1,227 million, up 5.3% year-over-year, with North America as the largest market at 57.4% of sales.

• Net loss for 2025 was $73.3 million, widening from a $41.2 million loss in 2024, mainly due to higher impairment charges and financial expenses.

• EBITDA for 2025 was $184.2 million, with an adjusted EBITDA for covenant purposes of $172.3 million.

• Total assets at year-end 2025 were $1,803 million, with equity of $605 million and liabilities of $1,199 million.

Financial highlights

• Operating revenue increased to $1,215 million from $1,155 million year-over-year.

• Cost of sales rose to $1,061 million from $977 million, with gross profit at $154 million.

• Impairment of assets increased to $90.3 million from $71.6 million, mainly due to bearer plant write-offs.

• Financial expenses rose to $52.8 million from $48.8 million.

• Cash and cash equivalents at year-end were $82.5 million, up from $67.9 million.

Outlook and guidance

• Management expects operating cash flows and available liquidity to be sufficient for working capital and interest payments over the next 12 months.

• No relevant subsequent events were reported after December 31, 2025.