Fodelia Group: 9M-2023 Financial Report

Pyhäntä / FI. (foy) Finland’s Fodelia Oyj Group announced its unaudited financial report for the period 01 January to 30 September (9M-2023). The Group’s business developed very well in Q3-2023. Net sales increased by 12 percent in July-September, while earnings before interest and taxes increased by more than six times compared to the corresponding period in 2022. Growth of Feelia and Marjavasu continued at a strong pace. Fodelia Retail focused on improving profitability. Highlights:

Summary for January-September 2023

  • Net sales for the period grew by 20.3 percent and amounted to EUR 36,507 thousand (30,355 thousand).
  • Ebitda for the period was EUR 3,448 thousand (1 869 thousand) or 9.4 percent of net sales (6.2 percent).
  • EbitA for the period was EUR 2,315 thousand (855) or 6.3 percent of net sales (2.8 percent)
  • Ebit for the period was EUR 1,982 thousand (605 thousand) or 5.4 percent of net sales (2.0 percent).

Summary for July-September 2023

  • Net sales for the period grew by 12.1 percent and amounted to EUR 12,249 thousand (10,923 thousand).
  • Ebitda for the period was EUR 1,500 thousand (593 thousand) or 12.2 percent of net sales (5.4 percent).
  • EbitA for the period was EUR 1,101 thousand (240) or 9.0 percent of net sales (2.2 percent)
  • Ebit for the period was EUR 990 thousand (150 thousand) or 8.1 percent of net sales (1.4 percent).

Outlook for 2023

The company’s management maintains the outlook and estimates the Group’s net sales in 2023 to be approximately EUR 45-52 million. Operating profit margin is estimated to increase from the previous year. The outlook is uncertain due to the effects of the war in Ukraine on material prices, material availability and the general price level.

For additional information please read the company’s PDF file below (169 KB):

20231113-FODELIA-Q3-2023.