Saga Furs (SAGCV) H2 2025 earnings summary

Executive summary

• Governance statement for fiscal year 2024/2025 aligns with Finnish corporate governance code effective 1.1.2025.

• Board composition emphasizes diversity and industry expertise, with both genders represented and major shareholders included.

• Revenue increased by 3% to €42 million, but operating profit declined to €1.4 million from €1.7 million.

• Net financial income rose to €3.1 million, and profit before tax improved to €4.5 million from €3.5 million.

• Earnings per share increased to €1.00 from €0.73.

Significant events and developments

• Board elected at AGM on 25.4.2025, with 8 members and personal deputies.

• Board and committees include representatives of major shareholders, diverging from some governance code recommendations.

• Board held 21 meetings during the fiscal year, with full attendance by most members.

• CEO Markus Gotthardt continued in role, supported by a management team with no shareholdings in the company.

• Terminated long-term levy agreement with International Fur Federation and began renegotiations; IFF ended Furmark® certification agreement.

Financial highlights

• Value of brokered sales decreased to €324 million from €343 million year-over-year.

• Operating expenses remained flat at €43 million.

• Net profit for the period was €3.5 million, up from €2.6 million.

• Cash flow from operations was €12.8 million, with net investments of €0.6 million.

• Solid equity ratio at 78.6%.