Angel Yeast (600298) Q4 2025 earnings summary

Executive summary

• Achieved revenue of ¥16.73 billion in 2025, up 10.08% year-over-year; net profit attributable to shareholders was ¥1.54 billion, up 16.60% year-over-year.

• Operating cash flow reached ¥2.48 billion, up 50.19% year-over-year.

• Basic EPS was ¥1.78, up 14.84% year-over-year.

• Proposed cash dividend of ¥5.5 per 10 shares, totaling ¥477 million, representing 30.91% payout ratio.

Financial highlights

• Gross margin for main business was 24.79%, up 8.31 percentage points year-over-year.

• EBITDA/total debt ratio was 35.78%; interest coverage ratio was 10.80.

• Total assets at year-end were ¥25.46 billion, up 17.14% from prior year.

• Net assets attributable to shareholders were ¥12.02 billion, up 11.03% year-over-year.

• Asset-liability ratio was 49.34%, up 1.52 percentage points.

Outlook and guidance

• Plans to maintain global leadership in yeast and expand in biotechnology, focusing on innovation and internationalization.

• 2026 targets include strengthening core yeast and food businesses, expanding in health food, biomedicine, and bio-agriculture.

• Emphasis on new product development, cost control, and digital transformation.