Olvi (OLVAS) Q1 2026 earnings summary

Executive summary

• Net sales rose 11.4% year-over-year to EUR 147.9 million, driven by acquisitions and increased sales volume.

• Sales volume grew 3.1% to 205.4 million litres, with organic sales volume down 2.2% due to Denmark.

• Gross profit improved by 15.2% to EUR 62.6 million, with margin rising to 42.3% of net sales.

• Integration of three recent acquisitions is progressing well, with synergy benefits expected from 2027.

• 228 new products and a new soft drinks brand launched in Finland; new brewhouse in Iisalmi completed and operational.

Financial highlights

• EBIT declined 14.5% to EUR 10.6 million, mainly due to Denmark's performance and acquisition-related depreciation.

• Profit for the period fell 39.8% year-over-year to EUR 5.9 million.

• Earnings per share dropped 40.3% to EUR 0.28.

• Investments totaled EUR 12.2 million, up from EUR 11.0 million.

• Operating cash flow improved to EUR -10.2 million from EUR -19.7 million year-over-year.

Outlook and guidance

• Operating result for 2026 is expected to be EUR 84–92 million, unchanged from previous guidance.

• Synergies from acquisitions and growth in new markets expected to materialize towards year-end and into 2027.

• Long-term ambitions include EBIT >12%, ROCE >20%, and carbon-neutral breweries by 2030.