Nokian Panimo (BEER) H2 2025 earnings summary

Executive summary

• Achieved 9%–9.4% year-over-year growth in revenue and sales volume for 2025, continuing a long-term growth trajectory and outperforming a stagnant market.

• Strengthened market share in all product categories despite a -0.3% to 2.9% decline in the overall market.

• Listed on the First North marketplace, raising €8.5 million net (€10 million gross) for future investments.

• Launched new products, including Keisari Long Drink, Sun'n soft drinks, and new beers and ciders.

• Largest-ever investment: €4.6 million logistics center completed before summer peak.

Financial highlights

• Full-year 2025 revenue was €12.98 million, up 9.4% year-over-year; sales volume reached 12.98 million liters, up 9.5%.

• FY 2025 EBITDA was €2.24 million (17.2% margin), EBIT €1.47 million (11.3% margin), net result -€69 thousand due to €1.34 million IPO costs.

• Comparable net profit for 2025 was €1.02 million, with a proposed dividend payout of €0.03 per share (30% of comparable profit).

• Equity per share increased to €1.62 and equity ratio improved to 67.8% at year-end 2025.

• Net gearing improved to -23.2% at year-end 2025 from 49.6% in 2024.

Outlook and guidance

• Expects revenue growth in 2026 and an EBITDA margin between 17–20%, supported by capacity investments, new products, and improved cost efficiency.

• Long-term targets: over €20 million in revenue and EBITDA margin above 18% by 2029, with ~30% of comparable profit paid as dividends.