Sligro Food Group (SLIGR) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 revenue reached €664 million, down €61 million year-over-year due to discontinued tobacco sales.

• Netherlands revenue excluding tobacco grew 2.5% in Q3, with year-to-date growth at 2.5%.

• Belgium revenue stabilized in Q3, halting previous declines, but cumulative revenue is down 5.0% year-over-year.

• Acquisition of GEPU contributed €3 million in revenue in Q3.

Financial highlights

• Total Q3 2025 revenue: €664 million, down 8.2% from Q3 2024.

• Year-to-date revenue: €1,939 million, down 8.4% from the same period last year.

• Revenue excluding tobacco for the group increased 2.1% in Q3 and 1.3% year-to-date.

• Netherlands Q3 revenue excluding tobacco up 2.5% year-over-year.

Outlook and guidance

• Market trends in the Netherlands expected to continue, with December remaining a crucial month.

• Belgium's revenue recovery is expected to be gradual, with profitability improving at the same pace.

• Full-year profitability guidance remains unchanged from the half-year outlook.