Bell Food Group with strong EBITDA
The Bell Food Group grew once again and posted a good result in the first half of 2025.
- The Bell Food Group grew once again and posted a good result in the first half of 2025
- Net revenue increased by 4.4 percent to CHF 2.4 billion (+ CHF 102.8 million)
- 1EBITDA improved by CHF 8.1 million to CHF 159.7 million (+5.4 %), while EBIT grew by 3.6 percent to CHF 66.2 million
- Stable half-year profit of CHF 45.7 million (+0.7 %) in spite of higher financing costs
- The Eisberg companies in Hungary, Romania and Poland have been sold
- Plant expansions are on course
The Bell Food Group is standing its ground in a challenging market environment and continues to grow organically. Sales volume increased by 2.8 percent to 293.6 million tonnes in the first half of the year. Thanks to this volume growth across the entire Group, net revenue grew organically by 4.4 percent to CHF 2.4 billion. EBITDA increased by 5.4 percent to CHF 159.7 million. EBIT at CHF 66.2 million (+3.6 %) and the half-year profit at CHF 45.7 million (+0.7 %) were both up from the previous year. «The strong performance in the first half underlines our productive capacity in a very competitive environment», says CEO Marco Tschanz.
Net revenue grew by 4.4 percent
Bell Switzerland once again increased its volumes for all product groups. The challenges of raw material procurement were mastered thanks to long-standing partnerships. Bell International gained market share in the sliced charcuterie segment in Spain and Poland in particular. Hubers/Sütag further expanded its product ranges complying with higher animal welfare standards, thus substantially increasing its sales volume once again. In spite of a moderate market performance, Hilcona saw stable development at a high level. The business area Eisberg further increased its sales revenue. The strategic sale of the Eastern European companies and the formulation of measures to enhance profitability at Eisberg Austria dominated the first half of 2025. The business area Hügli suffered a market contraction and failed to increase its net revenue.
Strategic adjustments at business area Eisberg
Eisberg is selling its companies in Poland, Romania and Hungary to the Eastern European company Green Factory. «Eisberg will focus on its core markets in the DACH region (Germany, Austria, Switzerland) going forward», says Tschanz about this strategic decision. Official approval has been given for the sale of the Eisberg companies in Hungary and Romania. Deconsolidation will be finalised after the takeover date has been agreed with Green Factory.
Plant expansions on course
Bell Switzerland’s investment programme is in its final phase. In Oensingen (CH), interior construction work is far advanced for the slicing centre, logistics centre and cattle slaughterhouse, and test operations have started for various plants. Commissioning of the new cattle slaughterhouse, which sets new standards for animal welfare, energy efficiency and productivity, will start later this year. The automatic high bay warehouse at Hilcona in Schaan (FL) was already started up in April, which represents an important milestone. After many years of planning, Hubers received the building permit for its plant expansion in the first half of the year. With this, the Bell Food Group is securing its future growth in the international poultry business.
Outlook: optimistic about the second half
The commissioning of the new facilities at different locations will generate start-up costs and depreciation as planned, whereby most of the start-up costs will only be incurred in 2026 and 2027. Subject to the outstanding official approval from Poland, the sale of Eisberg’s plants in Eastern Europe will be finalised in the second half of the year. Measures to enhance profitability at Eisberg Austria are being assessed and will be implemented progressively in the second half. Intensity of competition is what comes to mind when Marco Tschanz looks forward to the second half: «The development of the individual business areas will remain challenging in the current economic context and competitive environment.» Thanks to its strong position and broadly diversified range of products in all price categories, the Bell Food Group is very well equipped to master these challenges.
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