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SINGAPORE – Food Empire Holdings Limited (“Food Empire”, the “Company” and together with its subsidiaries, the “Group”) is on track to achieve its fifth consecutive financial year of record topline as strong double-digit growth across all its core segments drove the Group’s nine-month revenue to a new high.
Group revenue for the nine months ended 30 September 2025 (“9M2025”) jumped 23.9% year-on- year to US$426.7 million compared to US$344.3 million in the corresponding nine months a year ago (“9M2024”).
On a quarterly basis, revenue rose 28.3% to US$152.6 million for the three months ended 30 September 2025 (“3Q2025”) compared to US$118.9 million a year ago (“3Q2024”). This was driven mainly by a particularly strong quarter by both the Group’s Russia and Ukraine, Kazakhstan and CIS segments.
| Financial Highlights (US$ Million) | 3 months ended 30 Sep | 9 months ended 30 Sep | ||||
| 3Q2025 | 3Q2024 | Change (%) | 9M2025 | 9M2024 | Change (%) | |
| Total Revenue | 152.6 | 118.9 | 28.3 | 426.7 | 344.3 | 23.9 |
| Segmental revenue breakdown: – Russia | 51.2 | 34.4 | 48.8 | 134.0 | 102.5 | 30.7 |
| – Southeast Asia | 37.0 | 32.9 | 12.5 | 114.5 | 94.8 | 20.8 |
| – Ukraine, Kazakhstan and CIS | 41.9 | 30.1 | 39.2 | 110.3 | 87.4 | 26.2 |
| – South Asia | 17.5 | 15.7 | 11.5 | 54.5 | 45.3 | 20.3 |
| – Others | 5.0 | 5.8 | (13.8) | 13.4 | 14.3 | (6.3) |
Performance review by segment
The Group’s Russia and Ukraine, Kazakhstan and CIS segments recorded the highest growth year-to- date with 9M2025 revenue rising 30.7% and 26.2% respectively. The 9-month performance was boosted by a substantially improved 3Q2025 for both segments. During the quarter under review, revenue from the Russia surged 48.8%.
Revenue from the Ukraine, Kazakhstan and CIS segment rose by 39.2%. Both segments’ growth was driven generally by consumer promotions and an increase in volume and price gains over the last 12 months. The stellar 3Q2025 performance of both segments was underpinned by robust consumer demand as a result of focused marketing promotions and brand investments that started in the second quarter, as well as an expanded distribution network.
The Group’s Southeast Asia segment continued its strong growth trajectory and expanded 20.8% to US$114.5 million in 9M2025. This was mainly due to the Vietnam market, which generated a 29.3% increase in sales to US$73.5 million, or more than 60% of the Southeast Asia segment’s revenue in 9M2025.
The improved performance was due to the high rate of consumer acquisition, sustained brand investments and consumer promotions in Vietnam.
Revenue from the Group’s South Asia segment rose 20.3% to US$54.5 million for the 9M2025 from US$45.3 million in 9M2024. This was attributed to sustained growth in sales volumes of both freeze- dried and spray-dried soluble coffee. Both the plants in India are running at optimal capacity.
Food Empire’s Group Chief Executive Officer and Executive Director, Mr Sudeep Nair, said: “Our outstanding performance in 3Q2025 and year-to-date 9M2025 is an outcome of brand investments and the ability to strategically allocate resources to markets where conditions are more favourable. We have managed to leverage on our geographical diversification and local market insights to respond nimbly to the constantly changing environment.
“With our 9-month revenue already at an all-time high, we are very optimistic of achieving our fifth consecutive record financial year. Looking ahead, we will continue to make strategic investments to further strengthen our business model towards a resilient and sustainable future for the Group.”
Recent corporate developments and outlook
During 3Q2025, Food Empire announced several corporate developments and strategic investments.
In July 2025, Food Empire announced an investment of US$37.0 million1 in the expansion of its spray- dried soluble coffee manufacturing facility in Andhra Pradesh, India, to support its fast-growing branded consumer business. Work on the expansion is scheduled to commence in the fourth quarter of 2025 and be completed by end 2027. It is expected to increase the facility’s capacity by about 60%.
In September 2025, Food Empire raised approximately S$42.8 million in gross proceeds through the placement of 17.0 million treasury shares (the “Placement”). The funds raised are expected to position the Group to pursue growth opportunities, optimise its balance sheet and reinforce long-term investor confidence. The Placement attracted strong interest from prominent institutional and strategic investors including Amova Asset Management, ICH Capital and Lion Global Investors Limited.
With these recent developments and other previously announced expansion projects in its pipeline including a coffee-mix manufacturing facility in Kazakhstan, Central Asia (by end 2025), and a new freeze-dried soluble coffee manufacturing facility in Vietnam (by 2028), the Group believes the growth prospects of its business are positive.
Notes
1 Including working capital.
About Food Empire Holdings Limited (Bloomberg Code: FEH:SP)
SGX Mainboard-listed Food Empire Holdings (“Food Empire” or together with its subsidiaries, the “Group”) is a multinational food and beverage manufacturing and distribution group headquartered in Singapore. The Group’s primary business is instant coffee beverages, which is retailed under its flagship and award-winning MacCoffee and CaféPHỐ brands.
Anchored by strong market-leading brands and an extensive distribution network, Food Empire’s reach extends to more than 60 countries across North Asia, Eastern Europe, Southeast Asia, South Asia, Central Asia, Middle East, and North America. The Group’s growing branded consumer business is supported by a vertically integrated business model that comprises 9 manufacturing facilities in 6 countries and 23 offices worldwide.
Besides instant coffee, Food Empire offers a range of other beverages such as tea and hot chocolate under its family of proprietary brands including Petrovskaya Sloboda, Klassno and Hillway. The Group is also involved in the snack manufacturing and distribution business under its Kracks and Chizzpa brands.
For business excellence, Food Empire has been named thrice by Forbes Asia as one of the “Best Under a Billion” companies. The Group was listed in Fortune magazine’s 2025 Fortune Southeast Asia 500 list, joining the ranks of the region’s largest 500 companies by revenue. In the Edge Singapore Billion Dollar Club Awards 2025, Food Empire achieved a prestigious haul of five awards, including the top honour of “Company of the Year” in the special Centurion category. In 2020/2021, Food Empire was named Winner of The Enterprise Award at the Singapore Business Awards.
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