XP Chemistries (XPC) Q4 2025 earnings summary

Executive summary

• Achieved a pivotal shift in 2025 with EU approval for high-purity capsaicin as a feed additive, enabling full-scale commercialization and market expansion across the EU.

• Adjusted market strategy to focus on encapsulated, customer-adapted capsaicin products for animal feed, aiming for higher value capture and improved gross margins.

• Entered a letter of intent with a major European distributor for EU-wide and select international market launch of encapsulated capsaicin products.

• Initiated collaboration with a large European contract manufacturer to ensure scalable, high-quality production capacity.

Financial highlights

• Net sales for Jan–Dec 2025 were 327 TSEK, up from 284 TSEK year-over-year.

• Operating loss for Jan–Dec 2025 was -10,556 TSEK, compared to -8,928 TSEK in 2024.

• Pre-tax result for Jan–Dec 2025 was -10,582 TSEK, versus -8,835 TSEK in 2024.

• Q4 2025 net sales were 71 TSEK, up from 55 TSEK in Q4 2024; Q4 operating loss was -3,291 TSEK (Q4 2024: -2,290 TSEK).

• Earnings per share for Jan–Dec 2025 was -0.03 SEK (2024: -0.05 SEK).

Outlook and guidance

• Focus for 2026 is on executing the new strategy, scaling production, and converting technical advantages into recurring commercial volumes.

• Market drivers such as climate-related heat stress and reduced antibiotic use are expected to increase demand for functional feed additives.