Agtira (AGTIRA) Q4 2025 earnings summary

Executive summary

• Achieved 142% year-over-year revenue growth in 2025, driven by organic expansion and the acquisition of Pepino, solidifying a leading position in Swedish cucumber production.

• Strategic focus shifted entirely to large-scale cucumber cultivation, phasing out fish production and non-core facilities.

• Integration of Pepino and Gurkfast completed, with synergies in purchasing, operations, and logistics already yielding results.

• New CEO Joakim Linneros appointed following the passing of the previous CEO.

Financial highlights

• Q4 2025 net sales: SEK 21.9m (up from SEK 11.4m in Q4 2024); full-year 2025 net sales: SEK 75.0m (up from SEK 31.0m in 2024).

• Q4 EBITDA: SEK -7.1m (improved from SEK -12.8m); full-year EBITDA: SEK -19.2m (improved from SEK -37.5m).

• Q4 EBIT: SEK -17.5m (Q4 2024: SEK -15.1m); full-year EBIT: SEK -42.8m (2024: SEK -45.9m).

• Q4 EPS: SEK -0.14 (Q4 2024: SEK -0.54); full-year EPS: SEK -0.36 (2024: SEK -1.71).

• Q4 operating cash flow: SEK -10.0m (Q4 2024: SEK -16.2m); full-year: SEK -30.2m (2024: SEK -33.4m).

• Gross margin in Q4 improved to 33% (from 4% in Q4 2024).

Outlook and guidance

• Targeting positive EBITDA for the full year 2026.

• Continued focus on profitable growth, further development of the Påarp facility, and stable production across all sites.

• Plans to convert 15,000 sqm of Pepino greenhouses to year-round production, expected to add SEK 40m in annual sales when completed.