Piippo (PIIPPO) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 increased to €6.3 million from €5.5 million year-over-year, driven by earlier deliveries in main product groups.

• Operating loss narrowed to -€0.5 million from -€0.8 million year-over-year, with improved profitability but still negative EBIT.

• Company decided to end baler net production at Outokumpu in 2025 and signed a two-phase asset sale agreement with Cotesi S.A.

• Board is evaluating future options for the parent and Manilla Oy, including potential reverse merger.

Financial highlights

• H1 2025 revenue: €6.3 million (up from €5.5 million year-over-year).

• Operating result (EBIT): -€0.5 million (improved from -€0.8 million year-over-year).

• Net result: -€0.7 million (improved from -€1.0 million year-over-year).

• Operating cash flow: -€0.2 million (down from €0.1 million year-over-year).

• EPS: -€0.53 (improved from -€0.80 year-over-year).

Outlook and guidance

• Full-year delivery volumes expected to decline due to production adjustments and agribusiness wind-down.

• Agriproduct inventory expected to be sold out by end of 2025.

• Focus remains on completing asset sales, evaluating future of Manilla Oy, and real estate divestments.

• No specific revenue or profit guidance for FY 2025.