Finland’s Fazer Group is open to acquisitions as it seeks to build on an unprecedented year for sales.
“As we continue on our international growth journey, we are actively pursuing opportunities to expand not only organically but also through M&A and remain committed to exploring all avenues that enable us to strengthen Fazer’s position in both existing and new markets,” president and CEO Christoph Vitzthum said today (23 February).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Despite challenges in confectionery, bakery and Fazer’s lifestyle foods division, which includes plant-based food and beverages, group sales edged up to a “record” €1.19bn in 2025 from €1.18bn.
However, comparable EBITDA dipped 2.5% to €137.8m while the margin dropped 40 basis points to 11.6%.
“Fazer estimates that its net sales in 2026 will increase and that its comparable EBITDA will improve,” the Helsinki-headquartered business predicted. “Fazer’s guidance assumes that Fazer’s operating environment will gradually improve.”
Vitzthum expects support this year from more money in consumers’ pockets linked to salary increases and a “moderate” inflation environment.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHowever, value-seeking behaviour is likely to remain, he said, pointing to a factor affecting global food manufacturers in general. At the same time, he anticipates “strong” competition from private label, while “geopolitical uncertainty remains high, which could potentially impact both input costs and consumer confidence”.
Amid elevated cocoa prices, Fazer’s confectionery sales also reached an all-time high last year. The commodity has come off its unprecedented peaks in recent weeks.
Sales climbed 6.9% to €580.6m as volumes picked up near year-end. “The confectionery market is expected to recover after a challenging year, mostly driven by volume growth,” Vitzthum said. “The cocoa price pressure and volatility are expected to ease from year 2025.”
After a difficult year in bakery marked by falling sales, Fazer is “cautiously optimistic” for the new fiscal year in a competitive market, particularly from private label.
Worker strikes in Finland last year also weighed on bakery sales, which fell 1.2% to €446.9m.
Sales in lifestyle foods, consisting of a range of breakfast cereals, porridge, plant-based oat drinks and smoothies, also decreased, led by Fazer’s business-to-business operations. Fazer also booked a goodwill impairment of €69.5m.
The division’s sales declined 12.8% to €190.5m, with “sluggish” growth in cereals and “challenges” in some areas of plant-based drinks.
“However, demand for Fazer Aito Oat Drink Barista grew significantly in Finland, resulting in a strengthened market position in the category,” Vitzthum said.
Group comparable EBIT rose 2.5% to €77.8m. The margin inched up to 6.5% from 6.4%.
Reported EBIT, hit by the impairment, slipped to a €1m loss from a €46m profit a year earlier.
Net profit was a loss of €19.1m versus a positive €34.7m. Comparable earnings per share were €8.46 against €8.59.
