03-07-2025
HKFoods backtracks on plan to sell Polish bacon factory
Following a strategic review, Finnish meat processor HKFoods has decided to keep its bacon production unit in Swinoujście, Poland.
In a stock exchange filing published today (3 July), the company said it will 'continue with the current group structure', backtracking on reassessment plans announced in April that could have included a sale of the Swinoujście site.
Operated by HKFoods' business in Poland, the Swinoujście plant has around 300 employees, according to the company.
HKFoods reiterated its April estimate today that the Polish subsidiary will generate net sales of approximately €70m ($82.3m) in 2025.
Commenting on the decision, HKFoods CEO Juha Ruohola said: 'We have invested in the Polish bacon unit over the past years and the profitable unit is in good shape. We have developed the unit's capacity and efficiency by investing in a slicing and packaging line in 2024, for example. During the first half of 2025, we have also continued our investment in increasing the added value of our Polish operations and our property development project.
'Following the extensive restructuring, we are now focusing on implementing our strategy in the HKFoods Group's operations in Finland and Poland, improving the competitiveness of our core business and the profitability of our operations, in addition to commercial activities."
The company had said in April that the assessment was part of its ongoing evaluation of its group structure 'aimed at strengthening the group's balance sheet'.
The Finnish meat processor has undergone significant restructuring in recent years to bolster its financial flexibility, including selling its businesses in the Baltics, Sweden, and Denmark.
In May last year, the company signed a deal to sell its Danish subsidiary to Plukon Food Group, a Netherlands-based poultry group, for €44.6m.
HKFoods also sold its Swedish business to local agri-food group Lantmännen in January 2024.
The company's 2024 financial results, published in February, showed net sales from continuing operations of €1bn, up 7.4% from the previous year, driven by 'good' consumer demand and 'successful' commercial activities.
EBITDA from continuing operations rose to €56.3m, a 24.8% increase from 2023, while the loss for the period narrowed to €1.8m from €17.3m in 2023.
Losses turned positive in the most recent results issued in May for the first quarter of 2025. HKFoods delivered a net profit of €0.8m versus a €3.8m loss a year earlier.
Sales climbed 2.2% to €233.7m in the three months to 31 March, while EBITDA from continuing operations rose 36% to €12.1m.
In March, HKFoods also closed a slaughterhouse in the town of Paimio, Finland, as cattle numbers declined.
Operations conducted by the company's Paimion Teurastamo business were to be transferred to the 'external service provider' Liha Hietanen in Sastamala by 31 March, HKFoods said in a statement.
"HKFoods backtracks on plan to sell Polish bacon factory" was originally created and published by Just Food, a GlobalData owned brand.
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