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Anora Group
Anora Group (ANORA) investor relations material
Anora Group CMD 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.CMD 2025 summary5 Nov, 2025
Updated Strategy and Financial Targets
Introduced the Fit, Fix and Focus (FFF) strategy, prioritizing profitability, operational efficiency, and margin restoration over top-line growth, replacing previous 2030 goals with new targets for 2028.
Targets 6%-7% annual comparable EBITDA growth, aiming for EUR 85-90 million by 2028, with a net debt/EBITDA ratio below 2.5 and a dividend payout of 50%-70% of net profit.
No specific net sales target set, but the ambition is to outgrow the market, focusing on margin improvement and cash flow.
Strategy is more execution-driven and simpler than the previous one, with 75% of growth expected from core business, 15% from new channels/categories, and 10% from international expansion.
Capital allocation prioritizes organic growth, dividends, a strong balance sheet, and selective M&A, with CapEx temporarily rising for key investments.
Operational and Structural Transformation
Fit phase targets EUR 20 million in cost savings through organizational simplification, sourcing optimization, and combining commercial teams for wine and spirits.
Fix phase aims for another EUR 20 million via value management, portfolio streamlining, inventory reduction, and supply chain optimization.
Focus phase to deliver EUR 10 million EBITDA growth through organic revenue, brand investments, and selective international expansion.
Unified ERP and digitalization initiatives to streamline processes, improve transparency, and enable faster decision-making, with SAP go-live in Q4 2025 (technical) and Q1 2026 (operational).
SKU rationalization underway, focusing on high-volume, high-margin products and reducing complexity in the portfolio and supply chain.
Financial Performance and Guidance
Comparable EBITDA rose to EUR 18.0 million, up 13.1% from last year, with improvements across all segments due to strong gross margin and lower operating expenses.
Net sales declined by 3.7% to EUR 156.7 million, mainly from lower volumes in Wine filler services and changes in the Spirits partner portfolio.
Gross margin improved by 190 basis points to 43.9% compared to the previous year.
Guidance for 2025 comparable EBITDA is set at EUR 70-75 million.
Liquidity reserves increased to EUR 262 million, and leverage improved to 3.0x from 3.3x last year.
What specific initiatives drive EUR 40M EBITDA?
Identify key growth channels and categories.
Explain M&A impact on debt leverage target.
What specific headwinds offset EBITDA uplift?
Explain SKU rationalization vs. new product launches.
Industrial segment growth beyond beverage applications?
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Q4 2025 revenue up 10%, net income $45M, MAUs 946M, and $500M buyback announced. - CPAY
Record 2025 growth and strong 2026 guidance driven by Corporate Payments and capital deployment. - WOLF
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Revenue up 29% to $630M, net income $13.36M, $22.3B backlog, strong cash, legal risks remain.
Next Anora Group earnings date
Q4 202511 Feb, 2026
Anora Group
Next Anora Group earnings date
Q4 202511 Feb, 2026
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Frequently asked questions
Anora Group produces and markets alcoholic beverages, including spirits, wines, and ready-to-drink products. It serves retail, hospitality, and export markets primarily in the Nordic and Baltic countries. The company is headquartered in Helsinki, Finland, and its shares are listed on the Nasdaq Helsinki.
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