Scandi Standard AB (publ) Interim report Quarter 2 2026

Another strong quarter with increased sales and improved earnings

April– June 2026

• Chicken processed (grill weight) amounted to  76 (73) thousand tonne which corresponds to a 3 per cent increase
• EBIT/kg amounted to SEK 2.37 (1.88)
• Net sales amounted to MSEK 3,691 (3,543). At constant exchange rates, net sales increased by 4 per cent
• Operating income (EBIT) increased with 30 percent till MSEK 179 (138), corresponding to a margin of 4.9 (3.9) per cent
• Income for the period amounted to MSEK 118 (84). Earnings per share amounted to SEK 1.80 (1.29)
• Operating cash flow was MSEK -121 (-150)

January – June 2026

• Chicken processed (grill weight) amounted to 151 (145) thousand tonne which corresponds to a 4 per cent increase
• EBIT/kg amounted to SEK 2.29 (1.80)
• Net sales amounted to MSEK 7,375 (6,919) MSEK. At constant exchange rates, net sales increased by 8 per cent
• Operating income (EBIT) increased with 32 precent to MSEK 346 (262), corresponding to a margin of 4.7 (3.8) per cent
• Income for the period amounted to MSEK 219 (151).
  Earnings per share amounted to SEK 3.35 (2.31)
• Operating cash flow was MSEK -52 (-142)

Significant events during the quarter

• At Scandi Standard’s Annual General Meeting on April 28, 2026, a dividend of SEK 3.30 per share was approved for distribution to shareholders. The first payment was made during the second quarter, and the second payment will be made in the third quarter.
• On May 29, 2026, Scandi Standard acquired the production facility in Valla, Sweden, which had previously been leased. The purchase price, including the repayment of loans in connection with the acquisition, amounted to SEK 270 million, while the Group’s carrying amount of the lease liability was 58 MSEK. The investment is strategically important for securing long-term production capacity and improving profitability. The acquisition has been classified as an asset acquisition.

¹ For details about alternative KPIs, see note 3. For definitions of key figures, see page 19. 
² Comparative figures have been adjusted to previously published results.

CEO Comments

Scandi Standard reported another strong quarter with both improved profitability and continued growth. Operating income increased by 30 per cent to MSEK 179 (138), while net sales increased by 4 per cent. The performance reflects our ability to meet the strong demand for chicken while continuing to develop the business through investments, increased efficiency, and a progressively more integrated value chain. During the quarter, we strengthened our position in our domestic markets in the Nordic region and Ireland, while taking further steps to expand and improve efficiency in our operations in the Baltics and Central Europe. In my view, the conditions for continued growth and the achievement of our long-term financial targets remain favourable, while the expansion and diversification of our operations increase our resilience in an uncertain business environment. 

Ready-to-cook (RTC) reported net sales of MSEK 2,781 (2,706). Operating income increased to MSEK 156 (115), an improvement of 36 per cent compared with the previous year. Demand for chicken remained favourable in our domestic markets during the quarter. In Sweden, it is particularly pleasing that Kronfågel was recognised by YouGov as the fastest-growing FMCG (Fast Moving Consumer Goods) brand in its category. The positive development contributed to increased production in several markets to meet customer demand and strengthen our market position. 
To meet the strong demand, we have also actively worked on improving and optimizing product specifications, strengthening resource utilisation and increasing volumes supplied to the market. These efficiency improvements contributed to both improved profitability and enhanced delivery capability. 
We also continued to develop and strengthen Scandi Standard’s value chain. The acquisition of the Danish poultry producer DanBroiler represents an important step in this work. Following the acquisition, the own breeding will account for approximately 7 per cent of volumes in Denmark, while also increasing control of the value chain. During the quarter, we also invested in hatchery infrastructure in Finland and continued to increase the degree of horizontal integration across several of our markets. 

Ready-to-eat (RTE) increased net sales by 12 per cent to MSEK 792 (710), while operating income increased to MSEK 32 (23), corresponding to an increase of 43 per cent. Work to improve profitability within RTE continues to deliver results. To meet growing demand, operations in Denmark have expanded through additional shifts, improving resource utilisation and increasing capacity. At the same time, new products have been launched and the customer base expanded across several segments in the European market. Our production facility in the Netherlands is a central part of the development of Ready-to-eat. Preparations for bringing additional production capacity are progressing according to plan, and results of the operational tests conducted have developed in line with expectations. As the facility is gradually expanded, we are increasing capacity and broadening our offerings to customers across the European market. Combined with growing demand, this creates favourable preconditions for continued profitable growth within the segment.

Ingredients reported a lower result during the quarter, primarily due to temporary operational and market-related challenges in Scandi Standard’s jointly owned rendering company FarmFood. However, positive developments in both efficiency and market prices are expected to contribute gradually to improved earnings performance.

High standards that strengthen the entire value chain 
During the quarter, the Scandi Broiler License Program was launched, a Group-wide training programme for growers and other key functions across the value chain. The programme supports Scandi Standard’s long-term improvement work within the Scandi Chicken Quality Program and builds on the high standards of animal welfare and quality that characterise Scandinavian chicken production. By establishing a common training platform, we are creating better conditions for a consistently high level of animal welfare across the Group. Strengthening the industry competence contributes to increased confidence in our products while reinforcing Scandi Standard’s position as a leading and responsible producer of chicken. 

Financial position 
Operating cash flow improved compared with the previous year to MSEK -121 (-150), primarily driven by a higher result. At the same time, increased demand and production volumes within RTC and RTE contributed to a higher working capital need during the quarter, as a result of planned inventory build-up. Cash flow was also impacted by temporary effects related to the implementation of the company’s business system in Denmark. Net debt was further affected by dividend payments to shareholders and repayment of loans related to the acquisition of the production property in Sweden, as well as the acquisitions in Denmark and Finland.

Strategy and outlook

Demand for chicken remains strong, and the product is playing an increasingly important role in more meals and consumption occasions, creating favourable conditions for long-term growth. Scandi Standard is responding to this development through local production of attractive and innovative products, efficient operations, and high standards for animal welfare, sustainability, and production. During the quarter, we strengthened our position in the value chain across several markets, took the next step in the development of our facility in the Netherlands and saw positive effects from investments and efficiency measures in our domestic markets. Together, these initiatives improve our ability to meet demand and enhance profitability over time. Geopolitical uncertainty remains elevated, particularly through its impact on energy and feed costs. Our local presence and increasingly integrated business model position us well to manage these variations while continuing to develop the business. 

With strong positions in our markets, a growing European presence and value-creating investments, we are well-positioned to continue growing and take further steps towards our long-term financial targets. 

Stockholm, 17 July 2026

Jonas Tunestål,
Managing Director and CEO Scandi Standard

Conference Call

A conference call for investors, analysts and media will be held on 17 July 2026 at 8.30 AM CET.

Dial-in numbers:
 UK: 020 3936 2999
Sweden: 010 884 80 16
US: +1 646 664 1960
Other countries: +44 20 3936 2999  

Slides used in the conference call can be downloaded at www.scandistandard.com under Investor Relations. A recording of the conference call will be available on www.scandistandard.com afterwards. 

Further information

For further information. please contact:

Jonas Tunestål. Managing director and CEO and Fredrik Sylwan. CFO
Tel: +46 10 456 13 00

Henrik Heiberg, Head of M&A, Financing & IR
Tel: +47 917 47 724 

This interim report comprises information which Scandi Standard is required to disclose pursuant to EU market abuse regulation and the Securities Markets Act. It was released for publication at 07:30 AM CET on 17 July 2026.

Financial calendar

Interim report for Q3 2026        20 October 2026
Interim report for Q4 2026        4 February 2027
Interim report for Q1 2027        27 April 2027

Forward-looking statement

This report contains forward-looking information based on the current expectations of company management. Although management deems that the expectations presented by such forward-looking information are reasonable, no guarantee can be given that these expectations will prove correct. Accordingly, the actual future outcome could vary considerably compared with what is stated in the forward-looking information, due to such factors as, but not limited to, changed conditions regarding finances, market and competition, supply and productions constraints, changes in legal and regulatory requirements and other political measures, and fluctuations in exchange rates.

About Scandi Standard

Scandi Standard was founded in 2013 and is today the leading producer of chicken-based food products in the Nordic region and Ireland. The Group operates in Sweden, Norway, Denmark, Finland, Ireland, Lithuania and Netherlands with market leading positions in several of our local markets. Our home markets are characterised by a strong demand for locally produced food and our brands – Kronfågel, Danpo, Den Stolte Hane, Naapurin Maalaiskana and Manor Farm – are well established and have a strong position.

Scandi Standard also has production operations in Lithuania and a plant in Netherlands. We export to international customers as a part of our global growth strategy.

We are approximately 3.700 employees with annual sales of approx. SEK 14 billion.

Scandi Standard AB (publ)
Strandbergsgatan 55 
104 25 Stockholm 
Reg nr. 556921-0627 

www.scandistandard.com

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