Savencia (SAVE) H1 2025 earnings summary

Executive summary

• Net sales for H1 2025 reached €3,396 million, a 0.5% year-over-year increase, with 3.5% organic growth driven by Other Dairy Products and pricing aligned with milk price inflation.

• Net income for the period was €44.9 million, down from €64.0 million in H1 2024, while Group Share net income fell to €39 million, down €19 million year-over-year.

• Operating profit declined to €83.3 million from €102.8 million, reflecting higher milk prices and currency depreciation.

• Total comprehensive income turned negative at -€25.8 million, compared to €136.1 million in the prior year, mainly due to adverse foreign exchange and hedging impacts.

• A study for a potential merger with Savencia Gourmet was initiated to accelerate Premium Foodservice development.

Financial highlights

• Net sales: €3,396 million (+0.5% year-over-year); organic growth: 3.5%.

• Current operating profit declined to €102.5 million from €109.6 million year-over-year.

• Operating profit dropped to €83.3 million from €102.8 million.

• Earnings per share (basic and diluted) decreased to €2.93 from €4.33.

• Net cash flow from operating activities was €73.8 million, down from €131.3 million.

Outlook and guidance

• Hyperinflation in Argentina and significant foreign exchange volatility are expected to continue impacting results.

• The merger study with Savencia Gourmet aims to create a global leader in Premium Foodservice, with results to be submitted to the Board in early 2026.