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Lantmännen (LM) investor relations material
Lantmännen Tertial 2 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Adjusted operating income for the second tertial was 995 MSEK, up from 938 MSEK year-over-year, driven by a large Swedish harvest, ongoing savings program, and results from acquisitions and divestitures.
Net sales for the period were 19,479 MSEK, a decrease of 3.2% compared to the same period last year, mainly due to currency effects, divestitures, and lower organic growth.
The company signed an agreement to divest Swecon, which is now classified as a discontinued operation from July 2025.
A group-wide savings program targeting 500 MSEK in cost reductions was initiated, with restructuring costs of 340 MSEK impacting results.
Acquisition of Leipurin, a leading bakery ingredients supplier, was agreed in August, expected to close in H1 2026.
Financial highlights
Adjusted operating income: 995 MSEK (938 MSEK), reported operating income: 655 MSEK (1,008 MSEK).
Adjusted income after financial items: 844 MSEK (744 MSEK).
Cash flow before financing: -95 MSEK (33 MSEK).
Net sales: 19,479 MSEK (20,128 MSEK), down 3.2%.
Adjusted return on equity (rolling 12 months): 7.7% (7.6%).
Outlook and guidance
The ongoing savings program is progressing as planned and is expected to deliver the targeted 500 MSEK in cost savings.
Management remains optimistic for the remainder of 2025, citing strong harvests and continued investment in sustainable food production.
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Net income reached TRY 29.5 billion, with strong dividends and a robust net cash position.
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