Multiexport Foods (MULTI-X) Q4 2025 earnings summary

Executive summary

• Q4-25 revenue set a fourth-quarter record at $246.9M, up 40.9% YoY; operational EBIT was $9.3M versus a $0.6M loss, while net income fell 60.1% to $4.9M.

• FY25 revenue reached MUS$ 870,807, up 24%; net income was MUS$ 16,177 versus a MUS$ 2,999 loss in FY24.

• FY25 operational EBIT rose to $45.6M from $11.8M; operating income was MUS$ 40,390 versus MUS$ 25,436.

Financial highlights

• Q4-25 EBITDA was $17.6M, up 140.6% YoY; FY25 EBITDA was $78.2M, up 83.4%.

• Q4-25 harvest rose 50.2% to 37,500 tons WFE and sales rose 52.3% to 35,032 tons WFE; FY25 harvest reached a record 118,351 tons WFE.

• FY25 net margin was 1.9% versus -0.4% in FY24; EPS was US$ 0.0060 versus a US$ 0.0009 loss.

• Cash and equivalents declined to MUS$ 8,215 from MUS$ 28,244, reflecting debt repayments and investments.

Outlook and guidance

• Improved financial ratios and the 2026 operational outlook support a path of deleveraging.

• Strong salmon and trout demand expected to continue, with the US remaining the primary export market.

• US$ 250M debt refinancing completed in January 2026.