Acomo (ACOMO) H1 2025 earnings summary

Executive summary

• Achieved record H1 2025 sales up 14% to €758.4M and adjusted EBITDA up 85% to €68M; adjusted EPS rose 143% to €1.36.

• Net profit increased 139% to €42.5M; interim dividend set at €0.45 per share, up 12.5% year-over-year.

• Net debt to EBITDA leverage ratio improved to 2.1x, with a healthy balance sheet despite higher working capital.

• Spices & Nuts and Organic Ingredients achieved record sales and profits; Edible Seeds and Tea faced margin pressure and tariff/geopolitical challenges.

• Strategic focus remains on sales growth, healthy margins, strong balance sheet, and attractive dividends.

Financial highlights

• Gross profit margin increased from 13.3% to 16.9%, mainly driven by organic ingredients and value-added activities.

• Operating income (EBIT) nearly doubled to €63.3M, up 94% year-over-year.

• Cash flow from operating activities (excluding working capital) more than doubled, but total cash flow was negative due to increased working capital.

• Solvency ratio at 47% and total assets increased 15% to €883.4M.

• Net debt increased to €272.8M, reflecting higher inventories and working capital.

Outlook and guidance

• Volatile environment expected to persist, with U.S. tariffs and FX rates as key uncertainties.

• Well-positioned for sustainable growth with a diversified plant-based portfolio.

• No change in U.S. market strategy despite political developments; M&A remains a growth avenue.