Q2 2026 Anora Group Oyj Earnings Call Transcript
Key Points
- Comparable EBITDA increased by 14.6% to EUR16 million in Q2, with margin improving to 10% from 8.4%.
- Gross margin reached a multi-year high of 46.7% in Q2, driven by revenue management, pricing actions, and portfolio optimization.
- Spirits segment delivered a strong performance with comparable EBITDA up 22.7% to EUR10.5 million and margin expanding to 20%.
- Industrial segment showed robust growth with external net sales up 7.3%, driven by strong ethanol, starch, and logistics volumes.
- Completed refinancing in June 2026, reducing annual financing costs by approximately EUR1 million and maintaining leverage at 2.4x, below the 2.5x target.
- Net sales declined 3% to EUR161 million, pressured by lower wine volumes in Denmark and lost filler service volumes.
- Wine segment remained weak, with comparable EBITDA falling to EUR0.9 million from EUR1.9 million, despite gross margin improvement.
- Organic growth in Q2 was -5.5%, still underperforming the market decline of -5.3%, indicating continued market share challenges.
- Market conditions remain tough with structural pressure on alcohol consumption and volume declines across all seven operating markets.
- One-off costs of EUR3.7 million in Q2 and EUR5.9 million in H1 from transformation program, with similar levels expected in H2, impacting reported EBITDA.
Welcome to the presentation of Anora's Q2 results. My name is Milena Hekstrom. I'm the Head of Investor Relations here at Anora. And our presenters today are our CEO, Kirsi Puntila; and CFO, Stein Eriksen.
And after the presentations, we will start with the Q&A session. Please also be reminded that you can post your questions during the presentation throughout the call. And please note that this presentation will be recorded and published later today on our website, anora.com.
And now, Kirsi, please go ahead.
Thank you, Milena, and good to see you all online. I hope you've had a great summer. We have naturally been praying for sunny terrace weathers, and it does look like the world has not just yet totally stopped enjoying good quality drinks this season.
Okay. I'm a big believer in open and transparent communication, and my ambition all along has been to turn
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
