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Bell Food Group (BELL) investor relations material
Bell Food Group H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong growth across all key performance indicators, with net revenue up 4.5% year-over-year to CHF 4.9 billion and adjusted net profit rising 2.6% to CHF 127 million.
All key financial indicators improved, with organic growth in a highly competitive environment.
Growth momentum continued, driven by Bell Switzerland and Hubers/Sütag, and supported by strategic acquisitions and divestitures.
Consistent expansion in all product groups and channels, with retail accounting for 70% and food service/industry 30% of net revenue.
Strategic focus sharpened through divestitures and targeted acquisitions, enhancing market leadership.
Financial highlights
Adjusted EBITDA reached CHF 360 million (+2.8%), and adjusted EBIT was CHF 172 million (+2.8%) compared to the previous year.
Free cash flow improved to CHF 36 million from CHF -10 million last year.
Equity ratio increased to 50.6%, and debt ratio improved to 2.3x.
Operating investments totaled CHF 290 million, all financed from operating activities.
Proposed dividend of CHF 7 per share.
Outlook and guidance
Positive outlook with continued organic growth and EBITDA development targeted.
Planned investment peak in 2026 at CHF 350 million, then stabilizing at CHF 250–300 million annually.
Net debt ratio expected to remain below 2.5x, with stable dividend payout ratio around 30%.
Volatility in markets and procurement expected due to economic and political factors.
Confident in strategic and operational positioning to address upcoming challenges.
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