PRESS RELEASE HALF-YEAR REPORT 2026 Acomo reports robust H1 2026 with healthy margin and promising recovery in Edible Seeds US
ROTTERDAM (NL), 28 JULY 2026
ACOMO N.V. (Acomo), the Euronext Amsterdam-listed diversified, plant-based food ingredients Group, today reports H1 2026 results.
Performance highlights H1 2026:
Second best H1 in the history of the Group
Sales at constant currency down 3% versus a record high H1 2025 comparison
Adjusted EBITDA of €61 million (H1 2025: €67.9 million) with adjusted EBITDA margin of 8.6% (H1 2025: 9.0%)
Continued recovery in Edible Seeds with EBITDA up +22% year on year on a constant currency basis
Strong cash generation with operating cash flow of €56 million
Leverage ratio at 2.9x, with continued strong balance sheet
Interim dividend set at €0.45 per share, equal to prior year
Citromil and Cublend bolt-on acquisitions completed in July, expanding the Group's value-added footprint
Sales
710.7
758.4
-6%
-3%
Adjusted EBITDA1
61.3
67.9
-10%
-7%
Adjusted EBITDA %
8.6%
9.0%
Operating Cash flow
56.1
(28.4)
(in € millions)
H1 2026
H1 2025
% FX Adjusted
% Change Change
1 Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information on page 15
Comments from Allard Goldschmeding, CEO of Acomo:"This performance, the second-best first half-year result in the history of the Group, demonstrates the underlying strength of our business. In a world where supply chains and market prices are governed by uncertainty, our companies are reliable partners to both suppliers and customers. I am especially pleased by the recovery of our Edible Seeds business in the US, resulting from positive momentum in our Sunbutter® and Wildlife businesses which is underpinned by the actions we have taken to preserve margins. We also continued our growth momentum in the Spices & Nuts segment.
Our Organic Ingredients segment is operating in a market with attractive growth potential. The organic cocoa business is proof of this potential and performed strongly against the backdrop of continued price volatility. We also made important investments to capture further growth and efficiencies in this segment, as shown in the acquisition of Citromil in Spain and the insourcing of our juice processing in the US.
In addition, the recently completed acquisition of Cublend further strengthens our positioning in the Food Solutions segment. These M&A transactions are fully aligned with our strategy of expanding our capabilities and creating sustainable long-term value. We look forward to working with these businesses and their employees and realizing that value potential together.
In the near future the environment is expected to remain uncertain. However, given the expertise of our companies and the initiatives we are taking, including M&A, we remain well positioned for further growth given the long-term market trends and we are on track with our ambitions as laid out in our 'building routes to healthier foods' plan."
ROTTERDAM (NL), 28 JULY 2026 1
PRESS RELEASE HALF-YEAR REPORT 2026 Half-year performanceConsolidated sales decreased by -3% on a constant currency basis to €710.7 million (2025: €758.4 million). Sales increased in the first half year for Spices & Nuts and Tea, offset by a decline in Edible Seeds and Organic Ingredients. Food Solutions sales remained broadly in line with the previous period.
Overall adjusted Gross Profit margin improved from 16.2% to 16.4%.
Leverage ratio is at 2.9x due to relatively high market prices, with a continuously strong balance sheet.
ESGConsolidated figures (in € millions)
H1 2026
H1 2025
% Change
Sales
710.7
758.4
-6%
Adjusted Gross profit1
116.9
122.7
-5%
Adjusted Gross profit %
16.4%
16.2%
Adjusted Operating income (EBIT)1
52.1
58.3
-11%
Adjusted Net profit
33.5
40.8
-18%
Earnings per share (in €)
Earnings per share (adjusted)
1.13
1.36
-17%
Earnings per share (reported)
0.94
1.42
-34%
Ratios
Solvency - total equity as % of total assets
45.1%
47.1%
Leverage ratio (net debt/EBITDA)
2.9x
2.1x
1 Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information on page 15
In the first half of 2026, Acomo published its second CSRD-aligned Sustainability Statement and continued rolling out its strategy to support all entities in building responsible and resilient supply chains. Selected developments are highlighted below.
Climate change: Following its 2025 SBTi commitment, Delinuts completed a Scope 3 hotspot analysis and started
engaging selected suppliers to identify emission-reduction opportunities and support science-based target setting.
Nature & Biodiversity: Tradin Organic organized dynamic agroforestry workshops in Peru under the 2026-2027 SAFE program with La Campina Peru and GIZ, supporting ginger, cocoa, orange and coffee farmers in strengthening agricultural and economic resilience.
Own workforce: Acomo implemented a Group-wide learning platform and launched its first mandatory governance
training programs, supporting a more consistent approach to employee training across the Group.
Workers in the value chain: Royal Van Rees Group received an EcoVadis Gold Medal, placing it among the top 5% of assessed companies and recognizing progress across management systems focusing on environment, labor and human rights, ethics and sustainable procurement.
Currency euro/US dollarThe average euro/US dollar exchange rate of 1.167 in H1 2026 was -6.7% weaker compared to H1 2025 (1.094), resulting in a -€23.6 million translation effect on sales and -€1.4 million effect on net profit.
The euro/US dollar rate of 1.142 at 30 June 2026 reflected the stronger US dollar compared to the 2025 year-end rate (1.175), which represents a +2.8% revaluation. On total assets, the stronger US dollar had an impact of +€12.3 million.
Interim dividend H1 2026The interim dividend has been set at €0.45 per share. The ex-dividend date is 3 August 2026 and the dividend is payable on 11 August 2026.
ROTTERDAM (NL), 28 JULY 2026 2
PRESS RELEASE HALF-YEAR REPORT 2026 Activity reviews per segmentSpices & NutsSales (in € millions)
Q2-2026
Q2-2025
% Change
% FX
Adjusted Change
H1 2026
H1 2025
% Change
% FX
Adjusted Change
Spices and Nuts
131.3
131.8
0%
0%
276.2
266.6
+4%
+4%
Edible Seeds
55.6
56.5
-2%
0%
114.5
124.2
-8%
-3%
Organic Ingredients
124.5
151.2
-18%
-16%
253.8
302.9
-16%
-11%
Tea
30.0
24.7
+22%
+22%
56.2
54.1
+4%
+9%
Food Solutions
6.4
6.5
0%
0%
12.8
12.9
0%
0%
Intra Group
(1.2)
(1.1)
(2.8)
(2.3)
Total
346.6
369.6
-6%
-5%
710.7
758.4
-6%
-3%
Market conditions remained broadly similar during the first half of the year to those reported at year-end, with most key product categories trading at relatively elevated yet generally stable levels. The period was marked by ongoing supply chain disruptions and geopolitical uncertainty, creating challenges across several sourcing regions and trade routes.
Despite these circumstances, the Spices & Nuts division continued to effectively support customers through its global sourcing capabilities, supply chain expertise and strong market knowledge. Black pepper prices eased from earlier peaks as supply improved, particularly from Brazil, while desiccated coconut prices remained well supported by strong demand and limited raw material availability. Cashew prices remained relatively stable throughout the period following the correction from the unusually high levels recorded in 2025. To strengthen the business and service offerings to customers, Catz International opened an office in China.
As market prices were more stable compared with the exceptional environment of H1 2025, margins were closer to historical average, at a healthy level of 10.3%, reflecting the strength of the division's market position, customer relationships and risk management capabilities.
H1 2026 sales were up +4% on a constant currency basis compared with H1 2025, supported by the acquisition of Manuzzi in the second half of 2025, while adjusted EBITDA for the segment reached €28.6 million, versus €34.8 million in H1 2025.
Edible SeedsH1 2026 saw a recovery in the Edible Seeds business in the US. The production issues that affected Sunbutter® in Q4 2025 were fully resolved by the end of January and sales of Sunbutter® increased versus H1 2025 following successful full replenishment and strong offtake. For Wildlife, volume and sales performance exceeded the levels achieved in the first half of the previous year supported by improved execution at key accounts and a return to more seasonal demand. As
a result, the US business within Edible Seeds contributed significantly to the year-on-year improvement of the segment's margin performance, mitigating a more challenging first half of the year in the smaller European seeds business.
Edible Seeds sales declined by -2.8% on a constant currency basis compared to H1 last year. Nonetheless, the segment saw a strong recovery with an adjusted EBITDA of €10.1 million, up +22% versus last year on a constant currency basis.
Organic IngredientsThe global trend of consumer momentum for healthier and more sustainable foods continues to be positive, with organic retail sales growth across Europe and the US outpacing overall retail sales growth.
Within Acomo's Organic Ingredients segment, the Fruits business continues to demonstrate healthy commercial momentum and consistent growth. Initiatives to capture future growth and realize efficiencies have been taken, with investments in further integrating and strengthening the global citrus fruits supply chain. The acquisition of Citromil in Spain was finalized which will strengthen the position in Europe and beyond. In the US, an investment has been made to insource processing for the Juice business. This initiative will put some pressure on sales in the short term but will structurally improve the business from the first half of 2027 onwards.
The Cocoa business continues to perform well, successfully navigating the ongoing market volatility and increasingly complex regulatory landscape. After the record high cocoa prices at the back end of 2024 and first half of 2025, cocoa
ROTTERDAM (NL), 28 JULY 2026 3
PRESS RELEASE HALF-YEAR REPORT 2026prices have come down but remain above historic levels with continued daily volatility. For Coffee, lower volumes were more than offset by improved margins.
Organic Ingredients segment sales declined by -11% on a constant currency basis in H1 2026 versus a strong H1 2025 comparable. Adjusted EBITDA was €20.2 million, in line year-on-year on constant currency basis, with improved margins offsetting lower sales.
TeaContinuation of market volatility, shaped by both direct and indirect geopolitical exposures, put pressure on margin performance in the Tea segment compared with the first half of the previous year. Nevertheless, sales growth in this segment underscores its ability to further strengthen how it adapts to evolving market conditions within a fragmented and complex customer landscape.
Positive volume and sales development in Tea in the second quarter resulted in H1 2026 sales growth of +9% year-on-year at constant currency, while adjusted EBITDA was €1.3 million.
Food SolutionsThe Food Solutions segment delivered an improved margin performance in H1 2026 compared with the same period last year, primarily driven by the blends business. Supported by an entrepreneurial drive and continued investment in R&D, a further diversification of the wet blends product range fueled the ongoing scaling of the production facility that became operational last year.
The segment generated overall H1 2026 sales of €12.8 million, in line with the prior year, while adjusted EBITDA increased by +9% on a constant currency basis to €3.5 million.
Other information Consolidated balance sheetTotal assets amounted to €992.5 million as at 30 June 2026 (year-end 2025: €989.9 million). The main financial developments in the first half of 2026 were:
Shareholders' equity increased by +€10.7 million to €444.8 million as at 30 June 2026 (year-end 2025: €434.1 million).
The main movements were the H1 2026 net profit of €27.8 million, and the positive currency translation effect of
€9.0 million, partly offset by dividend payments to shareholders of €28.2 million.
Working capital decreased by -€7.2 million compared to 31 December 2025, driven by lower inventory, partly offset by higher receivables.
Solvency as at 30 June 2026 was 45.1% (year-end 2025: 44.1%).
The Acomo Group is well-positioned for sustainable growth and is on track to achieve the growth ambitions set out at the 2025 Capital Markets Day, driven by our relevant and diversified plant-based product portfolio in combination with our proven ability to manage turbulent market conditions. In the short term we continue to monitor external developments closely and our business model remains agile in response to changing market conditions. As indicated at our FY 2025 investor call and assuming no material change to the current operating environment we are expecting a more balanced EBITDA distribution between H1 and H2 in 2026 compared to last year.
Investor callOn Tuesday 28 July 2026 at 15.00 (CET) an investor call will be held to discuss these results further. A link can be found on the company's website.
NoteThis H1 2026 report has not been subject to an audit.
ROTTERDAM (NL), 28 JULY 2026 4PRESS RELEASE HALF-YEAR REPORT 2026 Financial calendar
28 July 2026 | Investor call H1 2026 financials |
3 August 2026 | Ex-dividend date, interim dividend FY 2026 |
4 August 2026 | Dividend record date, interim dividend FY 2026 |
11 August 2026 | Dividend payment date, interim dividend FY 2026 |
22 October 2026 | Trading update Q3 2026 - pre-market |
For further information, please contact:
ACOMO N.V. Allard Goldschmeding WTC, Beursplein 37 3011 AA Rotterdam The Netherlands info@acomo.nl Tel. +31 10 4051195 https://www.acomo.nl | Creative Venue PR Frank Witte, spokesperson Sophialaan 43 1075 BM Amsterdam The Netherlands f.witte@creativevenue.nl Tel. +31 20 4525225 https://www.creativevenue.nl |
ACOMO N.V. is an international group with as its principal business the sourcing, trading, treatment, processing, packaging, and distribution of conventional and organic plant-based food ingredients. Our main subsidiaries are Catz International B.V. in Rotterdam, the Netherlands (spices and food raw materials), The Organic Corporation B.V. in Amsterdam, the Netherlands, and Tradin Organics USA LLC in Aptos, USA (organic ingredients), Royal Van Rees Group
B.V. in Rotterdam, the Netherlands (tea), Red River Commodities Inc. in Fargo, USA, Red River-van Eck B.V. in Etten-Leur, the Netherlands, and SIGCO Warenhandelsgesellschaft mbH in Hamburg, Germany (edible seeds), King Nuts B.V. in Bodegraven, Delinuts B.V. in Ede, Tovano B.V. in Maasdijk, the Netherlands, Delinuts Nordics AB in Malmö, Sweden, and Manuzzi S.r.l. in Cesena, Italy (nuts), Snick EuroIngredients N.V. in Ruddervoorde, Belgium, and Cublend B.V. in Bleiswijk, the Netherlands (food solutions). Acomo shares have been traded on Euronext Amsterdam since 1908.
ROTTERDAM (NL), 28 JULY 2026 5
PRESS RELEASE HALF-YEAR REPORT 2026 Condensed consolidated interim financial statements for the six-month period ended 30 June 2026
Contents | Page |
Condensed consolidated statement of income H1 2026 | 7 |
Condensed consolidated statement of comprehensive income H1 2026 | 8 |
Condensed consolidated balance sheet as at 30 June 2026 | 9 |
Condensed consolidated statement of cash flows H1 2026 | 10 |
Condensed statement of changes in equity H1 2026 | 11 |
Notes to the H1 2026 condensed consolidated interim financial statements | 12 |
Reconciliation of non-IFRS information | 15 |
Statement as per section 5:25c (2) (c) of the Dutch Financial Markets Supervision Act ("Wet op het financieel toezicht")
To our knowledge:
The condensed consolidated interim financial statements for the six-month period ended 30 June 2026, which have been prepared in accordance with IAS 34 'Interim Financial Reporting' as adopted by the EU, give a true and fair view of the assets, liabilities, financial position, and profit or loss of ACOMO N.V. and the businesses included in the consolidation as a whole;
The management report of the Board for the six-month period ended 30 June 2026 (as set out on pages 1-5 of this
press release) includes a fair review of the information required pursuant to article 5:25d paragraphs 8 and 9 of the Dutch Financial Markets Supervision Act ("Wet op het financieel toezicht").
Rotterdam, 28 July 2026
Allard Goldschmeding | Mirjam van Thiel |
CEO | CFO |
PRESS RELEASE HALF-YEAR REPORT 2026 Condensed consolidated statement of income
(in € thousands) | Note | H1 2026 | H1 2025 |
Sales | 5, 7 | 710,721 | 758,445 |
Cost of goods sold | 8 | (598,826) | (630,687) |
Gross profit | 111,895 | 127,758 | |
General and administrative expenses | 9 | (64,770) | (64,419) |
Operating income | 47,125 | 63,339 | |
Interest expenses | (8,567) | (8,089) | |
Other financial income/(expenses) | 11 | (16) | 3,866 |
Profit before income tax | 38,542 | 59,116 | |
Corporate income tax | 12 | (10,592) | (16,571) |
Net profit | 27,950 | 42,545 | |
Profit attributable to shareholders of the Company | 27,820 | 42,109 | |
Profit attributable to non-controlling interests | 130 | 436 | |
Weighted average number of shares | 29,682,696 | 29,620,218 | |
Basic earnings per share (in €) | 13 | 0.94 | 1.42 |
Diluted earnings per share (in €) | 13 | 0.93 | 1.42 |
The interim financial statements have not been subject to an audit, review or compilation engagement, and no assurance is provided on them.
ROTTERDAM (NL), 28 JULY 2026 7PRESS RELEASE HALF-YEAR REPORT 2026 Condensed consolidated statement of comprehensive income
(in € thousands) | H1 2026 | H1 2025 |
Net profit | 27,950 | 42,545 |
Other comprehensive income (OCI) | ||
OCI to be reclassified to profit or loss in subsequent periods | ||
Movement currency translation reserves | 9,049 | (40,424) |
Movement on cash flow hedges | 157 | (336) |
OCI to be reclassified to profit or loss in subsequent periods | 9,206 | (40,760) |
Total comprehensive income | 37,156 | 1,785 |
Total comprehensive income attributable to shareholders of the parent | 36,961 | 1,615 |
Total comprehensive income attributable to non-controlling interest | 195 | 170 |
The interim financial statements have not been subject to an audit, review or compilation engagement, and no assurance is provided on them.
ROTTERDAM (NL), 28 JULY 2026 8PRESS RELEASE HALF-YEAR REPORT 2026 Condensed consolidated balance sheet
(in € thousands) | 30 June 2026 | 31 December 2025 | 30 June 2025 |
Assets | |||
Non-current assets | |||
Intangible assets | 208,165 | 205,991 | 193,583 |
Property, plant and equipment | 52,547 | 44,602 | 43,053 |
Right-of-use assets | 19,349 | 20,685 | 22,597 |
Other non-current assets | 4,344 | 3,946 | 3,872 |
Total non-current assets | 284,405 | 275,224 | 263,105 |
Current assets | |||
Inventories | 463,470 | 497,958 | 398,800 |
Trade receivables | 190,351 | 155,111 | 178,895 |
Other receivables | 43,188 | 44,331 | 36,180 |
Derivative financial instruments | 5,417 | 10,352 | 3,192 |
Cash and cash equivalents | 4,414 | 5,380 | 2,918 |
Total current assets | 706,840 | 713,132 | 619,985 |
Assets held-for-sale | 1,290 | 1,571 | 1,565 |
Total assets | 992,535 | 989,927 | 884,655 |
Equity and liabilities | |||
Total shareholders' equity | 444,763 | 434,120 | 414,507 |
Non-controlling interests | 2,660 | 2,850 | 2,203 |
Total equity | 447,423 | 436,970 | 416,710 |
Non-current liabilities and provisions | |||
Bank borrowings | 109,777 | 109,068 | 108,472 |
Lease liabilities | 15,636 | 16,399 | 18,306 |
Provisions and other non-current liabilities | 15,136 | 16,071 | 12,633 |
Total non-current liabilities | 140,549 | 141,538 | 139,411 |
Current liabilities | |||
Current portion long-term bank borrowings | 827 | 897 | 609 |
Bank borrowings | 238,189 | 249,910 | 166,647 |
Lease liabilities | 5,366 | 5,688 | 5,519 |
Trade creditors | 70,229 | 75,205 | 82,984 |
Tax liabilities | 17,485 | 16,856 | 13,848 |
Derivative financial instruments | 1,122 | 2,490 | 11,840 |
Other current liabilities and accrued expenses | 71,345 | 60,373 | 47,087 |
Total current liabilities | 404,563 | 411,419 | 328,534 |
Total liabilities | 545,112 | 552,957 | 467,945 |
Total equity and liabilities | 992,535 | 989,927 | 884,655 |
The interim financial statements have not been subject to an audit, review or compilation engagement, and no assurance is provided on them.
ROTTERDAM (NL), 28 JULY 2026 9PRESS RELEASE HALF-YEAR REPORT 2026 Condensed consolidated statement of cash flows
(in € thousands) | H1 2026 | H1 2025 |
Cash flow from operating activities | 60,449 | 74,284 |
Changes in working capital and derivatives | ||
| 42,188 | (51,743) |
| (32,493) | (29,629) |
| 18,691 | (8,168) |
| (13,164) | 2,560 |
Paid interest and taxes | (19,581) | (15,752) |
Net cash generated from/(used for) operating activities | 56,090 | (28,448) |
Cash flow from investing activities | ||
Investments in property, plant and equipment and intangible assets | (13,565) | (6,430) |
Proceeds from sale of PPE and assets held for sale | 2,580 | 827 |
Net cash used for investing activities | (10,985) | (5,603) |
Cash flow from financing activities | ||
Net proceeds from new shares issued | 1,565 | 126 |
Net changes in bank borrowings | (17,038) | 58,483 |
Payments of leases excluding interest | (2,152) | (2,526) |
Payments of other financing costs | (34) | (3) |
Dividends paid to non-controlling interests | (385) | - |
Dividends paid to shareholders | (28,211) | (25,175) |
Net cash generated from/(used for) financing activities | (46,255) | 30,905 |
Net (decrease) in cash and cash equivalents | (1,150) | (3,146) |
Cash and cash equivalents at the beginning of the year | 5,380 | 5,628 |
Exchange gains/(losses) on cash and cash equivalents | 184 | 436 |
Cash and cash equivalents at the end of the half-year | 4,414 | 2,918 |
The interim financial statements have not been subject to an audit, review or compilation engagement, and no assurance is provided on them.
ROTTERDAM (NL), 28 JULY 2026 10PRESS RELEASE HALF-YEAR REPORT 2026 Condensed consolidated statement of changes in equity H1 2026
Attributable to owners of the Company | |||||||||
(in € thousands) | Share capital | Share premium reserve | Other reserves | Retained earnings | Net profit for the year | Total shareholders' equity | Non-controlling interests | Total equity | |
Balance 1 January 2025 | 13,329 | 155,269 | 56,798 | 167,437 | 45,234 | 438,067 | 1,592 | 439,659 | |
Net profit for the period | - | - | - | - | 42,109 | 42,109 | 436 | 42,545 | |
Other comprehensive income | - | - | (40,494) | - | - | (40,494) | (266) | (40,760) | |
Total comprehensive income | - | - | (40,494) | - | 42,109 | 1,615 | 170 | 1,785 | |
Appropriation of net profit | - | - | - | 45,234 | (45,234) | - | - | - | |
New shares issued | 3 | 122 | - | - | - | 125 | - | 125 | |
Share-based payments | - | - | 322 | - | - | 322 | - | 322 | |
Change in non-controlling interest | - | - | - | (441) | - | (441) | 441 | - | |
Dividends relating to 2024, final | - | - | - | (25,181) | - | (25,181) | - | (25,181) | |
Balance 30 June 2025 | 13,332 | 155,391 | 16,626 | 187,049 | 42,109 | 414,507 | 2,203 | 416,710 | |
Balance 1 January 2026 | 13,332 | 155,392 | 17,817 | 174,540 | 73,039 | 434,120 | 2,850 | 436,970 | |
Net profit for the period | - | - | - | - | 27,820 | 27,820 | 130 | 27,950 | |
Other comprehensive income | - | - | 9,141 | - | - | 9,141 | 65 | 9,206 | |
Total comprehensive income | - | - | 9,141 | - | 27,820 | 36,961 | 195 | 37,156 | |
Appropriation of net profit | - | - | - | 73,039 | (73,039) | - | - | - | |
New shares issued | 35 | 1,530 | - | - | - | 1,565 | - | 1,565 | |
Share-based payments | - | - | 335 | - | - | 335 | - | 335 | |
Dividends to non-controlling interests | - | - | - | - | - | - | (385) | (385) | |
Dividends relating to 2025, final | - | - | - | (28,218) | - | (28,218) | - | (28,218) | |
Transactions with shareholders | 35 | 1,530 | 335 | 44,821 | (73,039) | (26,318) | (385) | (26,703) | |
Balance 30 June 2026 | 13,367 | 156,922 | 27,293 | 219,361 | 27,820 | 444,763 | 2,660 | 447,423 | |
The interim financial statements have not been subject to an audit, review or compilation engagement, and no assurance is provided on them.
ROTTERDAM (NL), 28 JULY 2026 11PRESS RELEASE HALF-YEAR REPORT 2026 Notes to the H1 2026 condensed consolidated interim financial statements Segment information
H1 2026 (in € thousands) | Spices and Nuts | Edible Seeds | Organic Ingredients | Tea | Food Solutions | Holding and intra-Group | Total |
Sales | 276,202 | 114,482 | 253,770 | 56,212 | 12,841 | (2,786) | 710,721 |
Operating expenses | (247,632) | (104,388) | (233,581) | (54,942) | (9,306) | 476 | (649,373) |
Operational EBITDA | 28,570 | 10,094 | 20,189 | 1,270 | 3,535 | (2,310) | 61,348 |
Unrealized FX and CX results | (313) | 156 | (4,857) | (5,014) | |||
Reported EBITDA | 28,257 | 10,250 | 15,332 | 1,270 | 3,535 | (2,310) | 56,334 |
Depreciation, amortization and impairments | (1,886) | (2,323) | (4,002) | (365) | (508) | (125) | (9,209) |
Operating income (EBIT) | 26,371 | 7,927 | 11,330 | 905 | 3,027 | (2,435) | 47,125 |
Financial results | (8,583) | ||||||
Income tax expense | (10,592) | ||||||
Net result | 27,950 | ||||||
Total assets | 283,272 | 126,379 | 371,368 | 70,446 | 16,680 | 124,390 | 992,535 |
Total liabilities | 146,747 | 87,255 | 202,360 | 25,093 | 9,683 | 73,974 | 545,112 |
H1 2025 | |||||||
Sales | 266,561 | 124,212 | 302,929 | 54,108 | 12,883 | (2,248) | 758,445 |
Operating expenses | (231,753) | (115,553) | (281,275) | (51,788) | (9,649) | (484) | (690,502) |
Operational EBITDA | 34,808 | 8,659 | 21,654 | 2,320 | 3,234 | (2,732) | 67,943 |
Unrealized FX and CX results | (2,544) | 7,580 | 5,036 | ||||
Reported EBITDA | 32,264 | 8,659 | 29,234 | 2,320 | 3,234 | (2,732) | 72,979 |
Depreciation, amortization and impairments | (1,636) | (2,739) | (4,464) | (236) | (446) | (119) | (9,640) |
Operating income (EBIT) | 30,628 | 5,920 | 24,770 | 2,084 | 2,788 | (2,851) | 63,339 |
Financial results | (4,223) | ||||||
Income tax expense | (16,571) | ||||||
Net result | 42,545 | ||||||
Total assets | 228,742 | 132,888 | 325,304 | 62,233 | 16,908 | 118,580 | 884,655 |
Total liabilities | 128,251 | 84,595 | 174,849 | 17,219 | 10,492 | 52,539 | 467,945 |
The column "Other" represents holding costs and intra-Group items.
The interim financial statements have not been subject to an audit, review or compilation engagement, and no assurance is provided on them.
ROTTERDAM (NL), 28 JULY 2026 12PRESS RELEASE HALF-YEAR REPORT 2026 Sales per geography
Sales | |||||
(in € millions) | NL | Europe other | North America | Other | Total |
H1 2026 | 113.1 | 334.6 | 218.7 | 44.3 | 710.7 |
H1 2025 | 112.7 | 328.5 | 270.6 | 46.6 | 758.4 |
30 June 2026 | 31 December 2025 | 30 June 2025 | |
Number of FTEs | 1,330 | 1,277 | 1,240 |
The interim financial statements have not been subject to an audit, review or compilation engagement, and no assurance is provided on them.
Reporting entityACOMO N.V. (the 'Company') is a public limited liability company domiciled in the Netherlands and registered in The Netherlands Chamber of Commerce Commercial register under number 24191858. The address of the Company's registered office is Beursplein 37, Rotterdam. The condensed consolidated interim financial statements of the Company as at and for the first half year ended 30 June 2026, comprise the Company and its subsidiaries (together referred to
as the 'Group' and individually as 'Group entities'). The Company is acting as the parent company of the Acomo Group, an international group of companies active in sourcing, trading, processing, packaging and distribution of natural food ingredients and solutions for the food and beverage industry.
Basis of preparationThe condensed consolidated interim financial statements have been prepared in accordance with IAS 34 "Interim Financial Reporting" as issued by the International Accounting Standards Board (IASB) and interpretations of the IFRS Interpretations Committee (IFRIC) as adopted by the European Union (EU). They do not include all the information as required for a complete set of IFRS annual financial statements and should be read in conjunction with the audited consolidated financial statements as at and for the year ended 31 December 2025, dated 5 March 2026 (published on the website of the Company). Selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance since the last audited consolidated financial statements as at and for the year ended 31 December 2025.
The condensed consolidated interim financial statements have been prepared on a historical cost basis unless otherwise stated.
The condensed consolidated interim financial statements were prepared by the Executive Directors of the Company and were authorised for issue on 27 July 2026.
Functional and presentation currencyThe condensed consolidated interim financial statements are presented in Euro, which is the Company's functional currency. All financial information presented in Euro has been rounded to the nearest thousand, unless mentioned differently.
Use of estimates and judgementsIn preparing the condensed consolidated interim financial statements, management makes judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities income and expense. Actual results may differ from these estimates.
The significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty are the same as those applied to the Group's audited consolidated financial statements as at and for the year ended 31 December 2025.
Going concernThe condensed interim consolidated financial statements have been prepared on a going concern basis.
ROTTERDAM (NL), 28 JULY 2026 13PRESS RELEASE HALF-YEAR REPORT 2026 Corporate governance, risks, and risk management
The risks related to the Group's activities and the risk control and management systems it has in place are unchanged compared to their description in the Annual Report 2025. The main risks and uncertainties remain applicable in the current fiscal year. However, multiple risks and uncertainties can arise simultaneously with compounded effects.
SeasonalityThe half-year reported results of Acomo are not impacted by a seasonal pattern. The sales and margins are determined by market prices and conditions rather than seasonal fluctuations.
Shareholders' equityFollowing the decision about the appropriation of the financial result 2025 by the Annual General Meeting of
24 April 2026, the Company distributed a dividend in cash of €28.1 million (€0.95 per share). In H1 2025, the Company distributed a dividend in cash of €25.2 million (€0.85 per share).
The movements in shareholders' equity are shown in the condensed consolidated statement of changes in shareholders' equity on page 11. As at 30 June 2026, the number of shares outstanding was 29,703,246
(31 December 2025: 29,625,246). Based on the existing share options granted, 121,750 share options are vested but not yet exercised. In the years 2027 until 2032, a total of 298,250 share options will vest.
Financial risk management and financial instrumentsThe consolidated financial statements of Acomo for the year ended 31 December 2025 describe the financial risks that the Group is exposed to in the normal course of business, as well as the policies and processes that are in place for managing these risks. Those risks, policies and processes remain valid and should be read in conjunction with these condensed consolidated interim financial statements.
For bank borrowings and other interest-bearing liabilities, the carrying amount is a reasonable approximation of fair value.
During the six-month period ended 30 June 2026, there have been no material changes related to the fair value hierarchy.
Bank borrowingsAs at 30 June 2026, net debt was €344.4 million (31 December 2025: €356.0 million). The Company is in full compliance with significant headroom with all covenants.
TaxFor the six-month period ended 30 June 2026, the effective tax rate was 27.5% (H1 2025 28.0%).
Intangible assetsDirect and indirect geopolitical exposures in HY1 2026 affected margin performance in the Tea segment. However, management expects no impact on the longer term growth assumptions of the Tea segment, as disclosed on page 167 of the Annual Report 2025.
Capital expenditureCapital expenditure related to property, plant and equipment and intangible assets amounted to €13.6 million (H1 2025:
€6.4 million). Main investments in the first half of this year include the assets of a juice processing facility in the US, and investments in ERP systems.
Subsequent eventsOn 16 July 2026, Acomo acquired 100% of the shares of Citromil S.L. a leading organic citrus ingredients business active in the sourcing and processing of a broad portfolio of citrus-based products. Citromil will be part of Acomo's Organic Ingredients segment.
On 20 July 2026, Acomo acquired 100% of the shares of Cublend B.V. a leading expert in producing powder mixes for the food industry. Cublend will be combined into Acomo's Food Solutions segment.
ROTTERDAM (NL), 28 JULY 2026 14PRESS RELEASE HALF-YEAR REPORT 2026 Reconciliation of non-IFRS information
In this Half-Year report 2026, Acomo presents certain financial measures when discussing Acomo's performance that are not measures of financial performance under IFRS. These non-IFRS measures are presented because management considers them important supplemental measures of the Group's performance.
For the definitions of the non-IFRS financial measures, refer to chapter Reconciliation of non-IFRS information, of the Annual Report 2025.
The tables below present the reconciliations from the most directly comparable IFRS measures to the non-IFRS measures.
Reconciliation of Gross profit to adjusted Gross profit (in € thousands) | H1 2026 | H1 2025 |
Gross profit | 111,895 | 127,758 |
Adjusted for positive/(negative) unrealized FX and CX results | (5,014) | 5,036 |
Adjusted Gross profit | 116,909 | 122,722 |
Reconciliation of Operating income to EBITDA and adjusted EBITDA (in € thousands) | H1 2026 | H1 2025 |
Operating income | 47,125 | 63,339 |
Depreciation, amortization and impairments | 9,209 | 9,640 |
EBITDA | 56,334 | 72,979 |
Adjusted for positive/(negative) unrealized FX and CX results | (5,014) | 5,036 |
Adjusted EBITDA | 61,348 | 67,943 |
Reconciliation of Net profit to adjusted Net profit (in € thousands) | H1 2026 | H1 2025 |
Net profit | 27,950 | 42,545 |
Adjustments for: | ||
Positive/(negative) unrealized FX and CX results | (5,014) | 5,036 |
Amortization charges other intangible assets | (2,500) | (2,654) |
Tax impact on adjusting items | 1,939 | (615) |
Adjusted Net profit | 33,525 | 40,778 |
Reconciliation Net debt (in € thousands) | 30 June 2026 | 31 December 2025 | 30 June 2025 |
Bank borrowings non-current1 | 110,604 | 110,714 | 109,081 |
Bank borrowings current | 238,189 | 250,659 | 166,647 |
Cash and cash equivalents | (4,414) | (5,380) | (2,918) |
Net debt | 344,379 | 355,993 | 272,810 |
1 Including the current part of the non-current borrowings
Reconciliation working capital (in € thousands) | 30 June 2026 | 31 December 2025 | 30 June 2025 |
Inventories | 463,470 | 497,958 | 398,800 |
Trade receivables | 190,351 | 155,111 | 178,895 |
Other receivables | 43,188 | 44,331 | 36,180 |
Assets held-for-sale | 1,290 | 1,571 | 1,565 |
Current portion long-term bank borrowings | (827) | (897) | (609) |
Trade creditors | (70,229) | (75,205) | (82,984) |
Tax liabilities | (17,485) | (16,856) | (13,848) |
Other current liabilities and accrued expenses | (71,345) | (60,373) | (47,087) |
Total working capital | 538,413 | 545,640 | 470,912 |