Full Year 2025 Hilton Food Group PLC Earnings Call Transcript
Key Points
- Hilton Food Group PLC (FRA:FAG) delivered a solid financial performance in 2025 despite a challenging operating environment, with adjusted profit before tax at GBP73.2 million.
- The company secured contract extensions in the Netherlands and Denmark, reinforcing strong customer relationships and value delivery to retail partners.
- Growth investments in Canada and Saudi Arabia are on track, expected to contribute from 2027 onwards, indicating future expansion potential.
- Planned investment of up to GBP30 million in Poland aims to expand capacity in fresh prepared foods, strengthening the company's position in Central Europe.
- The company maintains a strong financial position with a commitment to a progressive dividend policy, increasing the full-year dividend per share by 1.4% to 35p.
- Adjusted profit before tax decreased by around 3% year-on-year, reflecting challenges in the seafood and Dalco businesses.
- The seafood, vegetarian, and vegan businesses faced significant challenges, with Seachill moving into a loss-making position.
- Operating profit margin decreased from 2.6% to 2.3%, highlighting pressure on profitability.
- The company expects a year-on-year reduction in adjusted profit before tax for 2026, largely due to continued challenges in seafood, vegetarian, and vegan businesses.
- Foppen incurred significant non-underlying costs, including GBP9.2 million in cash costs related to production relocation and GBP18.4 million in inventory write-offs.
Good morning, everyone, and thank you for joining us. We're pleased to present our 2025 full year results today. Joining me this morning are Matt Osborne; Mel Chambers, COO for the East region; Samy Zekhout, COO for the West region; and Martyn Espley, Investor Relations Director. You all know Martyn and are getting to know Martyn, but I also think it's important that you get to meet more of the wider leadership team, and I'll ask Mel and Samy to say a few words about themselves when they present later.
I should mention Hannah Surtees is also with us today. Hannah has handed over the Investor Relations button to Martyn. Going forward, she's going to head up our communications team and work closely with me on our strategy. I'd like to thank Hannah for the sterling job she's done in recent years and say how much I enjoy -- I'm enjoying working with her.
Over the next 35 minutes, we'll take you through the key highlights of the year, including our financial performance and our refresh strategy. Then there'll be time for
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