Earnings release
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ORIOR MEDIA RELEASE | 25 August 2026 | Page 1 of 5 Ad hoc announcement pursuant to Art. 53 LR Z u rich , 25 August 202 6 ORIOR reports higher net profit • Significantly improved gross margin driven by increased purchasing power through procurement bundling. • Adjusted EBITDA margin increased to 5.5%, compared with 5.4% in the prior - year period. • Reported EBITDA margin reached 6.7%, compared with 5.4% in the prior - year period, supported by the sale of a non - operating property and the release of provisions no longer required. • Organic revenue decline of 5.7% was in line with expectations. • Revenue development was impacted by the sharp decline in pork prices and ongoing shifts in the Swiss retail market. • Consistent cost discipline and operational improvements offset the decline in volumes. • Leverage ratio (Net Debt/Adjusted EBITDA) improved to 4.3x, compared with 5.2x in the prior - year period. • Pastificio Gaetarelli has performed very well since the full acquisition; integration and optimisation measures at Culinor are also progressing as planned. • Outlook: Revenue guid ance has been revised; all other guidance targets have been confirmed. Business development By consistently pursuing the key priorities set for 2026 – reducing debt, creating value and simplifying the structure and organisation – ORIOR has laid a solid foundation for the next stage of its development. In particular, key functions such as purchasing and sales have been consolidated and harmonised across the Group, while the respective managers remain embedded in the business units. This enables the Group to capture synergies, reduce duplication and deploy resources more efficiently. During the first half of 2026, ORIOR also continued to develop an d refine its strategic direction through to 2032 intensively and consistently. The existing business segments will remain the cornerstone of the Group and will be selectively strengthened. Innovation is focused on areas that deliver demonstrable customer b enefits, offer clear differentiation and have attractive potential for scaling. ORIOR’s strategic priorities are to optimise capacity utilisation across its production network, broaden its convenience offering and pursue targeted market development. Investment is being directed consistently towards business segments with clear differentiation potential. The retail chann el remains a stable cornerstone of the business. At the same time, food service is increasingly emerging as a structural growth driver, supported by demographic change, evolving consumer habits and growing demand for high - quality convenience solutions. Half Year Results 2026 The 2026 half - year results are still significantly influenced by the portfolio and structural measures initiated in the 2025 financial year. At the same time, the first benefits of bundled procurement, rigorous cost control and tighter operational management are beginning to emerge. Net revenue for the first half of 2026 was CHF 283.3 million, compared with CHF 304.9 million in the same period of the previous year ( – 7.1%). Organic growth wa s – 5.7%. Exchange rate movements had a negative impact of – 0.7 percentage points on performance. Portfolio and acquisition effects accounted for a further – 0.7 percentage points, arising from the disposal of Albert Spiess’s catering depots and the full acqui sition of pasta manufacturer Pastificio Gaetarelli.
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ORIOR MEDIA RELEASE | 25 August 2026 | Page 2 of 5 Revenue declined across all segments. The principal factors were substantially lower pork prices, ongoing shifts in the Swiss retail market, the cessation of a Dutch volume contract and the discontinuation of the loss - making rail business in Germany. The bundling of purchasing power and improvements in procurement management delivered a significant increase in the gross margin. This improvement, together with continued cost discipline, helped to partly offset the decline in volumes. Adjusted EBITDA, adjusted for exceptional and one - off effects, reached CHF 15.5 million (previous year: CHF 16.3 million). Despite the lower revenue volume, the adjusted EBITDA margin improved to 5.5% (previous year: 5.4%). The stable to slightly higher op erating margin demonstrates the growing impact of the measures implemented. EBITDA increased to CHF 18.9 million (previous year: CHF 16.3 million), equivalent to 6.7% of revenue (previous year: 5.4%). In particular, earnings benefited from the book gain on the sale of a non - operating property and the release of provisions for legal obligations at Casualfood that were no longer required. Cash flow from operating activities amounted to CHF 12.8 million (previous year: CHF 16.0 million). The positive cash flow effects of higher reported EBITDA and lower tax payments were offset by a higher cash outflow from net working capital. Cash flow from investing activities decreased from CHF – 5.2 million in the previous year to CHF – 17.4 million. As a result, free cash flow amounted to CHF – 4.6 million (previous year: CHF 10.7 million). The principal factor was the acquisition of the remaining 81% interest in Pastificio Gaetarelli. The transaction strengthens ORIOR’s position in the attractive high - quality fresh pasta market and broadens the Group’s strategic development opportunities. Net debt stood at CHF 162.9 million, compared with CHF 152.3 million as at 31 December 2025. This equated to 4.3x adjusted EBITDA, below the previous year’s 5.2x. The increase in net debt was primarily due to the full acquisition of Pastificio Gaetarelli and the traditionally lower seasonal cash flow in the first half of the yea r. Debt reduction remains a key priority for ORIOR. ORIOR segments The Convenience segment with its Fredag, Le Patron, Pastinella and Biotta competence centres generated a net revenue of CHF 97.3 million (previous year: CHF 98.5 million). This development was mainly due to effects from the tender losses during the 2025 financial year, some of which only took effect in the first half of 2026. One encouraging feature was the broadly positive performance of the food service channels, attributable to the stronger position in travel and system catering and in the industrial sector. The Refinement segment, comprising Rapelli, Albert Spiess and Möfag, recorded an organic decline in revenue of 9.1%. Including a divestment effect of approximately CHF 3.1 million, net revenue decreased to CHF 110.9 million (pr evious year: CHF 125.4 million). Revenue was adversely affected by the sharp fall in pork prices and the portfolio streamlining as part of the reorganisation at Albert Spiess. The International segment, comprising the Culinor Food Group (Belgium), Casualfood and Gaetarelli competence centres , the Biotta affiliate Gesa, as well as the slicing packaging and distribution platform Spiess Europe, generated net revenue of CHF 89.3 million (previous year: CHF 95.0 million). Organic growth was – 6.2%. The main factors were the cessation last year of a Dutch volume contract at Culinor and the discontinuation of the loss - making rail business in Germany. Exchange rate movements had a further negative impact of – 2.4 percentage points on revenue performance. At Casualfood, the legal obligations were conclus ively assessed and the related provisions that were no longer required were released. Italian premium pasta manufacturer Pastificio Gaetarelli is performing very well ( acquisition effect of 2.6%) . The company is confirming strategic expectations. Gaetarelli combines strong product expertise and high quality standards with attractive growth opportunities. The company strengthens ORIOR’s position in the premium fresh pasta segment and opens up additional potential in both existing and new markets. At Culinor, integration and optimisation measures are likewise progressing as planned. The focus is on
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ORIOR MEDIA RELEASE | 25 August 2026 | Page 3 of 5 closer operational collaboration, leveraging Group - wide synergies , and the targeted further development of the product and customer portfolio. in TCHF Jan – Jun 2026 Jan – Jun 2025 ∆ in TCH F ∆ in % Net sales 283 252 3 04 865 – 21 613 – 7.1 % EBITDA 18 892 16 330 2 562 +15. 7 % in % of net sales 6.7 % 5.4 % Adjusted EBITDA 15 549 16 330 – 781 – 4.8 % in % of net sales 5.5 % 5.4 % EBIT 7 667 4 076 3 591 88.1 % in % of net sales 2.7 % 1.3 % Consolidated net profit attributable to OR IOR AG shareholders for the period 4 630 1 337 3 293 +246.4 % in % of net sales 1.6 % 0.4 % Cash flow from operating activities 12 850 15 963 – 3 113 – 19.5 % Net debt/EBITDA ratio 4.3x 5.2x Equity ratio 12.7 % 9.5 % Equity ratio incl. goodwill 29.1 % 26.4 % ROCE 1 6.4 % 3.2 % Stock market capitalisation as at 30.06 . 96 173 84 004 Av . number of employees (FTE) 1 952 2 099 1 Last Twelve Months Outlook ORIOR looks to the second half of 2026 with confidence. The environment remains challenging: disruptions in the Swiss retail market, volatile pork prices and adverse weather conditions continue to weigh on revenue development. In particular, prolonged periods of hot weather have led to shifts in consumer demand, while widespread barbecue bans due to the increased risk of wildfires have placed additional pressure on seasonal business. Against this backdrop, we are adjusting our full - year revenue guidance. Our assessment of the Group's operational performance remains unchanged and positive. The strategic priorities defined in recent months are now being implemented consistently and are increasingly embedded in day - to - day operations. Closer collaboration acro ss the Group, clear priorities and a disciplined focus on efficiency, procurement, costs and profitability continue to shape our operational management. Initial progress is already visible. Despite declining revenues, we achieved a significant improvement in gross margin. At the same time, the targeted measures introduced to enhance earnings are being implemented consistently, while additional efficiency potential is being unlocked. These initiatives will str engthen our profitability on a sustainable basis and further enhance the resilience of our business. We therefore reaffirm our remaining guidance for 2026. With a clear strategic direction, strong cost discipline and confidence in our execution, ORIOR enters the second half of the year focused on embedding the changes already initiated and translating them into visible improvements in operating performance.
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ORIOR MEDIA RELEASE | 25 August 2026 | Page 4 of 5 Guidance 202 6 202 5 Orga nic growth At constant exchange rates and after adjusting for acquisition / divestments and changes in the scope of consolidation – 6.0% to – 8 .0% ( previously – 3.0% to – 6.0%) – 1 .5% Adj. EBITDA margin Excluding expenditures from corporate transactions and one - off expenditures 6.3% – 6.6% (u nchanged ) 6.3% CapEx CHF 20 to CHF 24 million (un changed ) CHF 18.0 million Our thanks The changes we have initiated demand commitment, flexibility and a willingness to pursue the chosen path together. We would like to sincerely thank all our employees for this. Their daily commitment and trust provide the foundation for ORIOR’s continued development. We would also like to thank our customers, our business partners and our shareholders for their trust and continued support. We would also like to thank our valued c onsumers , who choose ORIOR specialities every day. Invitation to the video conference Today, Tuesday, 25 August 2026, at 10:00am, Delegate of the Board of Directors Monika Friedli - Walser and Group CFO Sacha Gerber will present the 2026 half - year results in a Teams video conference. Please contact us so that we can provide you with the access details. > investors@orior.ch Download links >> Hal f Year Report 202 6 >> Alternative Performance Measures Half Year 2026 >> Presentation of 2026 half - year results >> GRI Sustainability Report 2025 >> Image gallery for the media C ontact Sacha D. Gerber, Group CFO, phone +41 44 308 65 00, e - m ail: investors@orior.ch Investor’s agenda 17 March 2027: Publication of 2026 full - year results 10 May 2027: Annual General Meeting of ORIOR AG
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ORIOR MEDIA RELEASE | 25 August 2026 | Page 5 of 5 ORIOR – Culinary Excellence ORIOR is an internationally active Swiss food and beverage group. It comprises a family of companies with a strong regional footing and popular brands and products that claim leadership positions in flourishing niche markets at home and abroad. ORIO R ' s decentralised business model allows every company in the Group to maintain their specific culture and identity, tailored to their workers and customers, and to create unique product, brand and concept worlds. Around 2 300 employees at twelve sites share a passion for c uisine, innovation and entrepreneurial freedom. The passion and dedication of our employees are the foundation of ORIOR’s success. Our commitment to uniqueness, the highest standards of quality and innovation enables us to create culinary experiences that delight consumers time and again. Our vision is nothing less than Culinary Excellence. ORIOR is listed on the SIX Swiss Exchange (ORON, ISIN CH011 1677 362). Further information is available at orior.ch .