Scandi Standard (SCST) Q4 2025 earnings summary

Executive summary

• Q4 2025 delivered 9% net sales growth and a 46% EBIT increase, driven by protein substitution trends, efficiency gains, and expansion in Europe.

• Ready-to-Cook segment led growth and margin expansion, while Ready-to-Eat saw net sales growth but margin pressure from higher raw material costs; gradual recovery is underway.

• Integration and ramp-up of acquisitions in Lithuania and the Netherlands are progressing as planned, supporting supply chain stability and capacity expansion.

• Earnings per share rose 142% to SEK 1.47 in Q4, and a 32% higher dividend of SEK 3.30 per share is proposed.

• Profitability and earnings improved significantly for both Q4 and the full year, reflecting operational improvements and market demand.

Financial highlights

• Q4 2025 net sales reached MSEK 3,441 (up 9%); full year net sales were MSEK 14,083 (up 8%).

• Q4 EBIT increased 46% to MSEK 156, with margin up to 4.5% from 3.4% last year; full year EBIT was MSEK 603 (up 18%).

• Q4 EBITDA was MSEK 271 (margin 7.9%), and operating cash flow was MSEK 197.

• Earnings per share for Q4 was SEK 1.47 (up 142%); full year EPS was SEK 5.61 (up 33%).

• Net interest-bearing debt/EBITDA improved to 1.9x, below the internal target of 2.5x.

Outlook and guidance

• Strong organic growth and margin improvement expected to continue in 2026, with a 2027 target of 5–7% organic net sales growth and EBIT margin above 6%.

• Investments in 2026 projected at SEK 650 million, focused on capacity expansion and efficiency improvements in Lithuania and the Netherlands.

• Dividend increase reflects confidence in future cash flow and earnings.

• Management expects strong financial development in 2026, supported by high demand and operational improvements.