Anora Group (ANORA) Investor presentation summary

Updated strategy and key initiatives

• Launched the Fit, Fix, Focus strategy to drive profitability and growth, emphasizing operational discipline and shareholder value creation.

• Fit phase targets EUR 20 million in cost savings through organizational review and sourcing optimization.

• Fix phase focuses on structural profitability via portfolio simplification, inventory reduction, and supply chain optimization.

• Focus phase aims for organic growth in core markets, expansion in growing categories, and international sales.

• Disciplined M&A to fill portfolio gaps, enter adjacent categories, and expand European market access.

Financial performance and targets

• Q1 2026 comparable EBITDA rose 9.7% to EUR 8.8 million, with margin improvement in Wine and cost savings from the FFF program.

• Net sales declined 4.0% to EUR 135.8 million in Q1 2026, mainly due to lower Wine campaign volumes in Denmark and earlier changes in Spirits partnerships.

• FY 2025 comparable EBITDA increased 3.2% to EUR 71.1 million, with a margin of 10.8%.

• Financial targets for 2028: 6-7% annual comparable EBITDA growth, organic revenue growth above market, leverage below 2.5x, and 50-70% dividend payout.

• Guidance for 2026: comparable EBITDA expected at EUR 74-79 million.

Market position and business review

• Holds leading positions in wine and spirits across the Nordics, with #1 or #2 market share in key countries.

• Own brands account for 54% of net sales, with a broad portfolio catering to diverse consumer groups and occasions.

• Q1 2026: Wine net sales down 11.4%, Spirits down 6.4%, Industrial up 14.9% due to contract manufacturing and logistics growth.

• Market share gains in Sweden, successful new launches in wine and RTDs, and logistics outsourcing in Sweden to focus on core business.

• Gross margin up by 6 percentage points over three years, driven by revenue management and input cost stabilization.