Savencia (SAVE) H1 2026 earnings summary

Executive summary

• Net sales increased to €3,485.6 million for H1 2026, up from €3,395.9 million year-over-year, driven by the integration of chocolate activities and the acquisition of Quata in Brazil.

• Net income for the period was €42.3 million, slightly down from €44.9 million in H1 2025, while net income Group share remained stable at €38 million.

• Total comprehensive income rebounded to €93.4 million from a loss of €25.8 million in the prior year, driven by positive foreign exchange and hedging effects.

• The company reorganized into two sectors: Historical markets & activities and Developing markets & activities.

Financial highlights

• Current operating profit declined to €88.1 million from €102.5 million year-over-year, mainly due to surplus milk supply and negative integration effects.

• Operating profit was €74.8 million, down from €83.3 million in H1 2025.

• Net financial debt rose to €815 million from €464 million, reflecting recent acquisitions.

• Earnings per share (basic and diluted) were €2.91, compared to €2.93 in the prior year.

• Gross operating margin remained stable at €204.2 million.

Outlook and guidance

• Integration of Savencia Gourmet's Premium Food Service and Retail Chocolate businesses from April 2026 and acquisition of Quata expected to impact future performance.

• The company launched renewed CSR commitments, targeting a 1.5°C decarbonization trajectory by 2035 and net zero by 2050.

• Energy-saving and water reduction initiatives are being implemented across all sites.