Olvi (OLVAS) Q3 2025 earnings summary

Executive summary

• Maintained or increased market shares in key categories despite weak consumer demand, low confidence, and challenging weather, especially in the Baltics and Belarus.

• Continued strategic investments in brands, operations, analytics, and acquisitions to support long-term growth and competitiveness.

• Completed three acquisitions in Latvia, Estonia, and Bosnia and Herzegovina, expanding market reach and non-alcoholic offerings.

Financial highlights

• Q3 2025 net sales rose 0.7% year-over-year to EUR 186.2 million; 9M net sales up 0.8% to EUR 514.1 million.

• Q3 EBIT fell 9.8% to EUR 27.0 million; 9M EBIT down 8.8% to EUR 65.7 million.

• Gross margin improved to 43.0% in Q3 and 41.7% for 9M, reflecting better profitability.

• Earnings per share for 9M was EUR 2.27, down from EUR 2.62 year-over-year.

• Investments totaled EUR 37.0 million for 9M, up from EUR 27.0 million year-over-year.

Outlook and guidance

• 2025 operating result guidance revised to EUR 80–84 million (previously EUR 82–86 million) due to weak summer demand and ongoing uncertainty.

• Q4 is expected to be better than the previous year, supported by cost controls and non-repeating prior year expenses.

• Profitability in Latvia and Lithuania is expected to recover, with improvements seen in September.