Scandi Standard AB (publ) Interim report Quarter 3 2026

Continued growth in sales and earnings and a strong position for the future

July - September 2026

• Chicken processed (grill weight) amounted to  81 (79) thousand tonnes which corresponds to a 3 per cent increase
• Adjusted EBIT/kg amounted to SEK 2.72 (2.36)
• Net sales amounted to MSEK 4,038  (3,723). At constant exchange rates, net sales increased by 7 per cent
• Adjusted operating income (Adj. EBIT) increased by 18 per cent to MSEK 220 (185), corresponding to a margin of 5.4 (5.0) per cent
• Income for the period amounted to MSEK 131 (120). Adjusted earnings per share amounted to SEK 2.19 (1.83)
• Operating cash flow was MSEK 218 (189)

January - September 2026

• Chicken processed (grill weight) amounted to 232 (224) thousand tonnes which corresponds to a 4 per cent increase
• Adjusted EBIT/kg amounted to SEK 2.44 (2.00)
• Net sales amounted to MSEK 11,414 (10,642). At constant exchange rates, net sales increased by 8 per cent
• Adjusted operating income (Adj. EBIT) increased by 27 per cent to MSEK 566 (447), corresponding to a margin of 5.0 (4.2) per cent
• Income for the period amounted to MSEK 349 (271). Adjusted earnings per share amounted to SEK 5.55 (4.14)
• Operating cash flow was MSEK 166  (46)

Significant events during and after the quarter

• In August 2026, Scandi Standard entered into a sustainability-linked credit facility agreement totaling approximately MEUR 450 with a five-year term. The new, more favorable financing replaces the company's existing credit facilities, which were originally entered into in September 2024.
• At Scandi Standard's Annual General Meeting on 28 April 2026, a dividend of SEK 3.30 per share was approved. The dividend was paid during the second and third quarters.
• During the quarter, Scandi Standard completed a rights issue raising approximately SEK 408 million before deduction of transaction-related costs. The proceeds are intended to partially finance the acquisition of Glenhaven Foods while maintaining a continued strong capital structure and financial flexibility within the Group. The rights issue comprised 3,268,143 new shares at a subscription price of SEK 125 per share.
• During the quarter, Scandi Standard entered into an agreement to acquire Glenhaven Foods. The acquisition expands the company's operations in processed and ready-to-eat chicken products and strengthens the Group's position in Ireland and the UK. The acquisition was completed and consolidated as of 9 October 2026.

1     For details about alternative KPIs, see note 4. For definitions of key figures, see page 20. 
2     Adjusted for non-comparable items, see note 5.
3.    Comparative figures have been adjusted to previously published results.

CEO Comments

Scandi Standard's third quarter combined strong sales and earnings growth with important operational progress. Adjusted operating income increased by 18 per cent to MSEK 220 (185), while net sales increased by 8 per cent. The improvement in earnings was driven by continued strong demand and increased operational efficiency, while previous price adjustments within Ready-to-eat had a positive impact. During the quarter, Scandi Standard entered into an agreement to acquire Glenhaven Foods and completed a rights issue to partly finance the transaction. Glenhaven Foods meets our operational and financial criteria and complements Manor Farm's leading position in fresh chicken products with a range of frozen and value-added products. The acquisition also gives us a foothold in the UK retail market where Scandi Standard currently has a very limited presence. This creates new opportunities for both Glenhaven Foods and our European value-added operations. We are thereby preparing for a new phase in the company's development, with broader operations and a stronger position in Europe.

Ready-to-cook (RTC) reported net sales of MSEK 3,015 (2,873). Operating income increased to MSEK 170 (159), an improvement of 7 per cent compared with the previous year.The third quarter is seasonally the strongest, and demand for chicken remained high, with particularly favourable development within retail, driven by new product launches and the barbecue season. To capitalise on the increased demand, we continued to optimise and improve the efficiency of our operations. This contributed to increased resource utilisation, improved customer deliveries and, consequently, higher profitability.

Ready-to-eat (RTE) increased net sales by 25 per cent to MSEK 893 (713), while operating income increased to MSEK 55 (17), corresponding to an increase of 220 per cent. The segment performed well during the quarter, with improved profitability and increased demand, inline with previous communication. Customer price adjustments implemented in response to higher costs had a more pronounced impact, while capacity, resource utilisation and production volumes continued to develop positively. New product launches and a broader customer base strengthened our platform, laying the foundation for continued growth in the European market.

During the quarter, Scandi Standard entered into an agreement to acquire Glenhaven Foods. The acquisition, which was included in Scandi Standard's operations from 9 October, expands the company's operations within value-added and ready-to-eat chicken products and builds on Manor Farm's strong position in Ireland. It also creates better conditions for growth in the UK market, where demand for value-added chicken products is high. Glenhaven Foods adds capacity and complementary expertise, creating further growth potential. The acquisition represents another step towards our ambition to become Europe's leading poultry company.

Building trust through high standards
Expectations among Scandi Standard's stakeholders regarding food safety, animal welfare and transparency continue to increase, a development that Scandi Standard welcomes. A well-functioning and successful poultry industry over the long term is built on high standards, continuous improvement and trust throughout the value chain. For us, this means systematic work based on clear requirements, continuous monitoring and development.

During the quarter, we took another step in this work as Scandi Standard's farms and processing plant in Lithuania were certified according to IKB KIP, a quality assurance scheme for poultry production. The certification covers areas including food safety, animal health, animal welfare and traceability. It also strengthens the company's ability to meet customer requirements and creates better conditions for continued growth in the European market.

Financial position
Operating cash flow improved during the quarter to MSEK 218 (189), while interest-bearing net debt decreased by MSEK 458 to MSEK 2,063 compared with the previous quarter, Q2 2026. The development reflects both the improved result and our continued discipline in reducing working capital, while investments in the business progressed according to plan. During the quarter, the company refinanced its bank loans on more favourable terms and secured an increased facility. In addition, a rights issue was completed to partly finance the acquisition of Glenhaven Foods and ensure continued financial flexibility. The fact that the rights issue was oversubscribed is a clear expression of the confidence in Scandi Standard, our strategy and our future direction. Together with our ongoing cash flow and increased available credit facilities, this provides us with a strong platform to integrate the acquisition, continue investing in the business and create long-term value.

Favourable conditions for long-term growth
The long-term drivers of continued demand for chicken remain strong. As the world's need for nutritious, affordable and resource-efficient food increases, chicken has an important role to play in the food systems of the future. At the same time, stakeholder expectations regarding quality, animal welfare and transparency are increasing. Scandi Standard welcomes this development, as it drives improvements throughout the value chain and contributes to the long-term development of the industry.

We see good opportunities for continued growth and remain confident in our ability to achieve our financial targets. While developments may periodically be affected by changes in raw material prices and other external factors, we are well positioned to manage these through our customer agreements and a continuous focus on developments in our markets.

With strong market positions, a growing European presence and a solid financial platform, Scandi Standard is well positioned to continue executing its strategy, achieve its 2027 targets and create long-term value.

Stockholm, 20 October 2026
Jonas Tunestål, Managing Director and CEO

Conference Call

A conference call for investors, analysts and media will be held on 20 October 2026 at 8.30 AM CET.

Dial-in numbers:

UK: 020 3936 2999
Sweden: 010 884 80 16
US: +1 646 664 1960
Other countries: +44 20 3936 2999

Slides used in the conference call can be downloaded at www.scandistandard.com under Investor Relations. A recording of the conference call will be available on www.scandistandard.com afterwards. 

Further information

For further information, please contact:

Jonas Tunestål, Managing director and CEO and Fredrik Sylwan, CFO
Tel: +46 10 456 13 00

Henrik Heiberg, Head of M&A, Financing & IR
Tel: +47 917 47 724 

 
This interim report comprises information which Scandi Standard is required to disclose pursuant to the EU market abuse regulation. It was released for publication at 07:30 AM CET on 20 October 2026.

 
Financial calendar

Interim report for Q4 2026                   4 February 2027
Interim report for Q1 2027                   27 April 2027
Annual General Meeting 2027             27 April 2027
Interim report for Q2 2027                   15 July 2027

Forward-looking statement

This report contains forward-looking information based on the current expectations of company management. Although management deems that the expectations presented by such forward-looking information are reasonable, no guarantee can be given that these expectations will prove correct. Accordingly, the actual future outcome could vary considerably compared with what is stated in the forward-looking information, due to such factors as, but not limited to, changed conditions regarding finances, market and competition, supply and productions constraints, changes in legal and regulatory requirements and other political measures, and fluctuations in exchange rates.

About Scandi Standard

Scandi Standard was founded in 2013 and is today the leading producer of chicken-based food products in the Nordic region and Ireland. The Group operates in Sweden, Norway, Denmark, Finland, Ireland, Lithuania and Netherlands with market leading positions in several of our local markets. Our home markets are characterised by a strong demand for locally produced food and our brands - Kronfågel, Danpo, Den Stolte Hane, Naapurin Maalaiskana and Manor Farm - are well established and have a strong position.

Scandi Standard also has production operations in Lithuania and a plant in the Netherlands. We export to international customers as a part of our global growth strategy.

We are approximately 3,700 employees with annual sales of approx. SEK 15 billion.

Scandi Standard AB (publ)
Strandbergsgatan 55 
104 25 Stockholm 
Company registration no. 556921-0627 

www.scandistandard.com