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Cheffelo presents first half 2025 financial results – delivering higher growth rate and 42% increase in EBIT profitability

MAR

Cheffelo’s second quarter growth of 1.9% was affected by Easter timing and a stronger SEK. Excluding currency effects, Net sales grew by 5.1% in the quarter and 12.0% for the first half of 2025, almost doubling the growth rate of 6.1% in the first half of last year. Growth was driven by a combination of more customers and increased Average Order Value. Norway and Sweden led the growth on a local currency basis of 18.7% and 8.8% respectively.

EBIT profitability continued to improve, landing at MSEK 41.9 (29.5), which amounts to a 42% increase for the first half.

Add-ons and grocery sales grew by almost 44% in Q2, as a result of efforts to make the offering more relevant and attractive to the customers, and this category now represents about 2.0% (1.4%) of Net sales.
 
CEO Walker Kinman comments: “I am proud of our solid results and the improvements in our product and service offering delivered by the Cheffelo team. Acceleration after the summer is strong and, despite currency headwinds, we expect double-digit growth in Q3. We are also confident that we are well on track to exceed the high end of our Net sales growth target of 8% for the full year, despite there being one less delivery week in Q4.”

Second quarter 2025 (Q2 2024)First half 2025 (H1 2024)
- Net sales increased by 1.9% to MSEK
261.7 (256.9). Growth excluding currency effects of 5.1% (11.9%)		- Net sales increased by 9.6% to
MSEK 598.0 (545.7). Growth excluding currency effects of 12.0% (6.1%)
- Operating profit (EBIT) at MSEK 21.4 (19.5), a margin of 8.2% (7.6%)- Operating profit (EBIT) at MSEK 41.9
(29.5), a margin of 7.0% (5.4%)
- Net profit for the period after taxes at
MSEK 17.0 (13.9)		- Net profit for the period after taxes at MSEK 33.2 (20.1)
- Earnings per share before dilution at SEK 1.34 (1.10) and after dilution at SEK 1.34 (1.08)- Earnings per share before dilution at SEK 2.61 (1.58) and after dilution at SEK 2.61 (1.56)

Please see Cheffelo’s first half 2025 report attached and on https://cheffelo.com/financial-reports/

Cheffelo hosts a webcast for investors, analysts and media on Aug 20 at 09:00 CET. Details can be found here: https://www.finwire.tv/webcast/cheffelo/q2-2025/

For further information, please contact:

Erik Bergman, CFO Cheffelo
Phone: +46 707 74 49 73
Mail: ir@cheffelo.com

Peter Bodor, Head of Corporate Communications, Cheffelo
Phone: +46 706 48 70 65
E-post: peter.bodor@cheffelo.com

About Cheffelo

Cheffelo is a leading, profitable Scandinavian mealkit provider that helps people eat well without the hassle of planning and shopping. Since 2008, Cheffelo has made it easier to enjoy varied, nutritious homecooked meals by delivering personalized meal kits with minimal food waste. With nearly 400 highly engaged employees, the company manages its own production facilities, integrating customer-unique packing processes and proprietary technology infrastructure to streamline operations and enable epic customer experiences. The company operates under the brands Linas in Sweden, Godtlevert and Adams Matkasse in Norway, and RetNemt in Denmark. In 2024, Cheffelo generated SEK 1.1 billion in revenue and delivered approximately 16 million meals. Cheffelo is listed on Nasdaq First North Premier Growth Market (ticker: CHEF). Certified Adviser: FNCA Sweden AB.
www.cheffelo.com
www.linkedin.com/company/cheffelo

This information is information that Cheffelo is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-08-20 07:45 CEST.

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Datum 2025-08-20, kl 07:45
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