Agtira (AGTIRA) Q2 2025 earnings summary

Executive summary

• Achieved market leadership in Swedish cucumber production through the acquisition of Pepino AB, strengthening operational capacity and financial foundation.

• Net sales for Q2 2025 reached 13.8 MSEK, a 94% increase year-over-year, with stable production across all facilities.

• Cost increases of approximately 3 MSEK were mainly due to the Kramfors facility ramp-up, new distribution system, and organizational changes.

• All production sites operated stably, with Kramfors exceeding initial production estimates.

• Ongoing cost-saving program aims to improve efficiency and profitability, with full effects expected in the next fiscal year.

Financial highlights

• Net sales for Q2 2025: 13.8 MSEK (7.1 MSEK in Q2 2024), up 94% year-over-year.

• EBITDA: -8.6 MSEK (-8.5 MSEK in Q2 2024); EBIT: -11.3 MSEK (-10.5 MSEK in Q2 2024).

• Earnings per share: -0.13 SEK (-0.12 SEK in Q2 2024).

• Cash flow from operations improved to -2.3 MSEK from -8.4 MSEK in Q2 2024.

• Solid equity ratio at 66% (56% in Q2 2024); cash and equivalents at 1.4 MSEK (0.9 MSEK in Q2 2024).

Outlook and guidance

• Acquisition of Pepino expected to accelerate profitability and positive cash flow ahead of previous plans.

• Synergies anticipated in procurement, production, logistics, and sales.

• Cost-saving measures to continue, with full impact expected in the next fiscal year.

• Focus remains on expanding year-round production and leveraging market leadership.