Scandi Standard (SCST) Q4 2025 earnings summary

Executive summary

• Q4 2025 net sales grew 9% year-over-year, driven by protein substitution trends, volume, mix, and price improvements, with strong demand in domestic and export markets.

• EBIT increased 46% to 156 MSEK, with margin rising to 4.5%, reflecting efficiency gains, improved production processes, and strong Ready-to-Cook (RTC) performance.

• Earnings per share rose 142% to 1.47 SEK, and a dividend of SEK 3.30/share is proposed, up 32% year-over-year.

• Ready-to-Cook segment showed solid growth and margin expansion, while Ready-to-Eat (RTE) saw net sales growth but margin pressure from higher input costs and delayed cost pass-through.

• Integration of acquired entities and capacity expansion in Lithuania and the Netherlands are progressing as planned.

Financial highlights

• Q4 2025 net sales: 3,441 MSEK (up from 3,170 MSEK in Q4 2024); full year: 14,083 MSEK (up 8%).

• Q4 EBIT: 156 MSEK (up 46%); full year EBIT: 603 MSEK (up 18%).

• Q4 EBITDA: 271 MSEK (up from 219 MSEK); EBITDA margin: 7.9% (up from 6.9%).

• Operating cash flow: 197 MSEK in Q4, 243 MSEK for the year; net interest-bearing debt at 2,032 MSEK; leverage at 1.9x, below the 2.5x target.

• Return on Capital Employed improved to 12.5%; Return on Equity nearly 14%.

Outlook and guidance

• 2026 outlook is strong, with further margin and EBIT per kilo improvements expected, supported by high demand and operational enhancements.

• CapEx for 2026 projected at 650 MSEK, focused on capacity expansion and efficiency, mainly in Lithuania and the Netherlands.

• Gradual margin recovery in RTE expected as cost increases are passed through.

• Dividend proposal up 32% reflects confidence in future growth and cash flow.