Smaller in size, much lighter in debt. This is the Vivartia emerging after the two major deals of Barba Stathis and Dodoni, which brought a total consideration of 240 million and changed the balances within the group in just one year. Balances that are set to change with the expected sale of the food service division to Fairfax.
Behind the 75.7 million euros in net profits reported by Vivartia for 2025 lies a fundamental change in its structure. In reality, 2025 was the year in which the group changed its perimeter and drastically reduced its debt.
The sale of Barba Stathis in March and of Dodoni in November were the two moves that defined the year. The first transaction was carried out for 130 million and generated an accounting profit of 40 million euros for Vivartia. The second was completed for 110 million, creating an additional profit of 34.6 million euros.
Within a few months, therefore, the group divested two of its most recognizable businesses, collecting a total of 240 million and recording profits of about 74.6 million from the transactions.
The continuing operations generated net profits attributable to the shareholders of the parent of 4.3 million euros versus 10.5 million in 2024. By contrast, profits of 71.4 million euros arose from discontinued operations.
Sales from continuing operations increased by 7.4%, to 755.5 million in 2025. Adjusted operating profitability moved even faster. Adjusted EBITDA amounted to 81.2 million, marking an increase of 12.4%.
Sales of the food service division, which is close to being sold to Fairfax, reached 299 million in 2025, up from 264.5 million the previous year.
The operating result of the division came to 26.7 million, from 25.8 million in 2024. In March 2025, Evergood acquired 60% of Red Meat, the company that manages the Jackaroo Sandwiches & Fries brand.
The picture is different in dairy. Sales increased to 293 million euros from 285.9 million in 2024. The operating result, however, moved in the opposite direction and was limited to 2.8 million, from 5.3 million euros.
In frozen foods, correspondingly, sales increased to 162.9 million euros from 151.9 million euros, while the operating result declined slightly to 20.8 million euros from 21.6 million.
If there is, however, one number that best describes Vivartia’s transformation during 2025, it is not found in sales, nor in net profits. It is found in debt.
The group’s total borrowing fell from about 641.9 million euros at the end of 2024 to 275.4 million euros at the end of 2025. In just one year, that is, it decreased by €366.5 million or about 57%. The company itself links the change both to the exit of the sold subsidiaries from the group and to debt repayments.
However, cash and cash equivalents at the end of the year fell to 56.1 million, compared with 100.5 million.