Miko: turnover for the first half of the year rose by 13% to €155.4 million

TURNHOUT, Belgium – Miko, the coffee service specialist listed on Euronext Brussels, announced that its turnover for the first half of the year rose by 13% to €155.4 million. EBIT, EBITDA, and net profit evolved by -4%, +5%, and -15% respectively to €6.2 million, €20 million, and €3.1 million.

According to Frans Van Tilborg, CEO of the Miko Group: “The results must be assessed in light of the exponential rise in coffee prices, which exploded from an index of 182 at the beginning of 2024 to a peak of 433 at the beginning of this year. Meanwhile, prices remain very high. Within this context, it was an enormous challenge to announce three significant price increases to our customers in less than four months. It took a huge effort to pull this off, and in the end we managed to limit the damage to a considerable extent. The results were particularly under pressure in France, Poland and England, due to difficult price negotiations.”

Frans Van Tilborg: “The double-digit increase of turnover is partly due to price increases, but volume also rose by 7%. This obviously helped to protect our results. Coffee prices remain high and volatile, so it is very difficult to make any predictions about the future, but we are not letting ourselves be guided by pessimism.”

Frans Van Tilborg adds: “We recently announced that we had secured a €6.75 million settlement in a dispute over the earn-out following the sale of the plastics processing division in 2021.” The result of this settlement has not been included in the half-year results.

At the beginning of this year, Miko announced that Frans Van Tilborg, after 25 years as managing director, 15 of which as CEO, will be handing over the reins to Karl Hermans on 1 January 2026. The latter has been a director within the group for 10 years. He has headed several subsidiaries. Frans Van Tilborg will remain active and will focus on a number of international tasks. He will also remain a member of the board of directors.

		30/06/2025 (KEUR)	30/06/2024 (KEUR)
Revenue		155.357	138.081
Revenue – sale of goods		148.794	131.776
Revenue – leasing		6.346	6.073
Revenue – sale of fixed assets		217	232
Other operating income		5.698	5.657
Total expenses		-154.859	-137.268
Raw materials & consumables used		-76.549	-62.042
Employee benefit expense		-43.717	-42.560
Depreciation and amortization		-13.652	-12.378
Other operating expenses		-20.941	-20.289
Operational result before interests and taxes (EBIT)		6.196	6.470
Net financial result		-2.199	-1.628
Financial income		90	89
Financial costs		-2.289	-1.717
Profit before taxes		3.997	4.842
Taxes on result		-555	-949
Results of the continued activities		3.442	3.893
Result of discontinued activities		0	-15.501
Net profit of the group		3.442	-11.608
Attributable to minority interests		-323	-202
Attributable to Miko shareholders		3.119	-11.811
Earnings per share
Weighted average number of shares		1.242.000	1.242.000
Basic earnings per share, Attributable to Miko shareholders (in euro)		2,51	-9,51
Weighted average number of shares after dilution		1.208.930	1.201.181
Diluted earnings per share, Attributable to Miko shareholders (in euro)		2,58	-9,83

 

		30/06/2025 (KEUR)	30/06/2024 (KEUR)
Net profit of the group		3.442	-11.608
Currency translation differences (items that may be reclassified to profit or loss)		-52	-502
Other items of comprehensive income (items that will not be reclassified to profit or loss)		0	0
Comprehensive income for the year		3.390	-12.110
Attributable to Miko shareholders		3.067	-12.312
Attributable to minority interests		323	202

About Miko

Miko has been active in coffee service for more than 220 years. The group achieved a turnover of 277 million euros in 2024. Miko is an international group with its own companies in Belgium, France, the United Kingdom, the Netherlands, Germany, Denmark, Norway, Sweden, Poland, the Czech Republic, Slovakia, and Australia.

More information about Miko can be found at www.mikogroup.be