Swiss Water Decaffeinated Coffee (SWP) Planet MicroCap Showcase: Toronto 2026 summary

Business model and category

• Green coffee is decaffeinated in Delta using water, temperature and time, then shipped to roasters in 65+ markets; operations run 24/7, 365 days a year.

• Capacity is 5x the level at startup; a 15% expansion is planned for 2027.

• 18- to 24-year-olds are now the largest decaf-drinking cohort, with sleep, wellness and steady-energy habits driving interest in cleaner products.

• Roughly two-thirds of global decaf uses chemical solvents; FDA and EU reviews of methylene chloride and consumer preference are supporting demand for chemical-free processes.

• Roasters are asking for more capacity as they assess supply-chain and brand risk; large-brand conversions can take 1.5 years, while small-roaster adoption can be quicker.

Demand and market position

• North America represents ~80% of volume; overseas markets are growing fastest, with Asia a particular focus for new customer conversions.

• Customers shifted from hand-to-mouth buying in 2025 to booking well into H1 2027; the order book is strong and sector capacity is tight.

• Roasters can earn a $0.30-$0.40/lb or size premium on shelf by using the Swiss Water brand; a U.S. online marketplace is being relaunched with advertising and social support.

• Of the ~30% chemical-free segment, Swiss Water holds ~40% share; Descamex has 35%-40%, while a new Bremen water operation has ~20%.

• Korea, Taiwan and Japan do not allow methylene chloride; decaf growth is also developing in China, Indonesia and Saudi Arabia.

Operations and financial performance

• The Delta facility required CAD 125M of investment; its first line started in 2020 and its second in 2023. Maintenance CapEx is now ~CAD 1M annually.

• Delta added ~40% capacity versus the prior operation and is running near capacity; coffee prices have eased following a strong Brazilian harvest, with working capital beginning to decline.

• Trailing gross profit nearly tripled from ~CAD 12M to CAD 32.5M; gross profit reached its highest level as green coffee costs are passed through to customers.

• Adjusted EBITDA was CAD 17.1M over the past 12 months, a record, and improved for four consecutive quarters; volume rose 37% since 2020 and adjusted EBITDA grew ~2.5x.

• Fixed plant costs mean additional volume can lift margins; higher coffee-carrying costs are being recovered, alongside operating efficiencies and Seaforth warehousing contributions.