Acomo (ACOMO) H1 2025 earnings summary

Executive summary

• Achieved record sales and profit in H1 2025, with sales up 14% to €758.4 million and adjusted EBITDA up 85% to €68 million; adjusted EPS rose 143% to €1.36.

• Net profit surged 139% to €42.5 million; interim dividend set at €0.45 per share, a 12.5% increase year-over-year.

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

• Food Solutions increased profits and fully operationalized a new wet blends facility in Belgium.

• Maintained a strong balance sheet with leverage ratio at 2.1x despite higher working capital.

Financial highlights

• Sales rose 14% year-over-year to €758.4 million in H1 2025; gross profit margin increased from 13.3% to 16.9%.

• Adjusted EBITDA increased 85% to €68 million; adjusted EPS up 143% to €1.36.

• Net profit up 139% to €42.5 million; operating income (EBIT) nearly doubled to €63.3 million.

• Cash flow from operations (excluding working capital) more than doubled to €74.3 million, but total cash flow was negative due to increased working capital.

• Solvency ratio at 47.2%, leverage ratio improved to 2.1x net debt/EBITDA.

Outlook and guidance

• Targeting €2 billion in sales by 2029, maintaining EBITDA margin around 9% and debt/EBITDA below 2.5.

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

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

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

• Committed to consistent dividend payout above 70%.