Shares in Olvi tumbled today (13 October) after the Finnish drinks company issued a profit warning.
In a stock exchange filing, the company said the new guidance was driven by “weaker-than-expected” earnings in some of its European markets.
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Olvi said it estimates its “operating result” for 2026 will sit between €80m and €85m ($89.5m – $95m).
The Sandels brewer had previously forecasted its operating income to sit in the €84m to €90m range.
That forecast was also revised down slightly in August from €84 to €92m, “based on the actual results of the first half of the year”, Olvi then said.
In 2025, the company booked an operating result of €81.8m.
Investors reacted negatively to today’s news, with Olvi’s share price having slumped nearly 8% as of 12:59 BST.
The new forecast was mainly attributed “to weaker-than-expected earnings performance” in its ‘rest of Europe’ business unit. The division includes markets such as Norway, Denmark, and several Baltic countries.
In its filing, Olvi said “cost pressures related to the geopolitical situation” also prompted the revision.
“The company is continuing measures to mitigate cost pressures, improve operational profitability and drive growth in the new markets,” it said.
Olvi is due to release its results for the third quarter of 2026 next Thursday (22 October).
In its first-half results, published in August, the KevytOlo soft drinks producer booked a 9.6% rise in operating profit, at €42.5m.
Olvi’s net sales in the first six months of 2026 were also up 13.5% at €372.4m. Sales volumes also increased 3.8% to 505.9 million litres.
Net sales in the group’s rest of Europe business grew 16.4% in the period to €154.1m. Organic net sales dipped 2.8%, mainly driven by Denmark.
The group’s first-half operating result in this business unit fell 10% to €7.4m, which again, was attributed “mainly” to Denmark, where the measure “is at a loss due to the low sales volume”.
In its August results announcement, Olvi added: “The low capacity utilisation rate
and the costs associated with the ongoing development programme increased the operating loss. To improve profitability, efforts are focused on securing additional production volume and adapting operations to the changed volume level.”
The business has carried out several acquisitions in markets that sit within the rest of Europe segment over the past 18 months.
One of those was the Estonian mineral water producer Värska Originaal. Olvi finalised its acquisition of the brand in June after a court lifted a legal injunction that had put the deal on hold.
