We provide healthy food for people and the planet.

We provide healthy food for people and the planet by producing and marketing food that is healthy, both for people and the environment. Most of our products are plant-based or vegetarian and many are natural and organic.

Midsona develops and markets strong brands within health and well-being, with products that help people live a healthier and more sustainable life, with an increased understanding of the origin of the raw material and with transparency as to the content.
Stock price
9.45
SEK
Market capitalization:
1.4B
MSEK
Days until report:
Stock ticker
MSON

Latest news

Latest report
All
Interim Report Q3 2024
Published on
October 23, 2024
Upcoming event
All
Interim report Q1 2025
April 25, 2025
Latest press release
All
Midsona releases Q1 report 2024
March 5th, 2024
4th Quarter
— 01
Highlights
£16.7m
Revenue, gains & income
+85%
In share price YTD
+37.6%
In AuM
£16.7m
Revenue, gains & income
59%
Adjusted EBITDA margin
+106%
Capital Markets growth YoY
+2,781%
Swedish website visitors
59%
Adjusted EBITDA margin
59%
Adjusted EBITDA margin
£16.7m
Revenue, gains & income
+85%
In share price YTD
+37.6%
In AuM
£16.7m
Revenue, gains & income
59%
Adjusted EBITDA margin
+106%
Capital Markets growth YoY
+2,781%
Swedish website visitors
59%
Adjusted EBITDA margin
Q4 earningscall

Continued strong improvement in margins drove an improved operating profit, and the Board proposes a dividend.

Net sales, MSEK
961
(1,003)
Gross profit (excl. IAC), MSEK
278
(248)
Operating profit (excl. IAC), MSEK
36
(22)
Operating margin (excl. IAC), %
3.7
(2.2)

Midsona at a glance

We provide healthy food for people and planet

We provide healthy food for people and planet by producing and marketing food that is healthy, both for people and the environment. Most of our products are plant-based or vegetarian and many are natural and organic.

We aspire to become the European leader in healthy and sustainable foods, building on its success in the Nordic region.
Our divisions
Division Nordics
65% of total sales in 2024
Division North Europe
24% of total sales in 2024
Division South Europe
11% of total sales in 2024
CDP A

Midsona has once again been recognized for its climate strategy and leadership by the global non-profit environmental initiative CDP. For the second year in a row, Midsona has achieved the highest rating, A, in CDP’s ranking in the area of Climate Change.

Our markets

The business is organised in three divisions: Division Nordics, Division North Europe and Division South Europe, which have operational responsibility for product development, production, marketing, sales and distribution to customers

Established in
2001
Brands
32
Employees
778+
Net sales in 2023 (b SEK)
3,793b

5 reasons to invest

1

1. Underlying need to eat more healthy and sustainably

Midsona’s markets are driven by increasing interest in healthy, organic, and plant-based foods for personal and planetary health. While current declines are linked to financial uncertainty, global trends like an aging population, health awareness, and demand for transparency and sustainability position Midsona well for the future.

2

2. Clear mission is reflected in every aspect of the groups work

Midsona has a clear mission to help people achieve a healthier life and care for the environment. This permeates everything Midsona does – from the use of sustainable raw materials, to production, and all the way to the consumer’s door.

3

3. Active change efforts to meet the future food market

Midsona has built up a leading position in the Nordic region through acquisitions, a strategy that has since been extended to Europe. Based on the Company’s current position and brands, Midsona is focusing on an active change process aimed at strengthening profitability and building a more attractive offering, along with a more efficient apparatus that is set up for the food market of the future.

4

4. Leading positions with strong brands

Midsona holds a leading position in most of its sales channels, making the Company a priority supplier. The strategy is based on developing strong brands in attractive sectors. Midsona has several brands in the Nordics with a strong position in their respective categories. Acquisitions in Germany, France and Spain have laid the foundation for growth in the rest of Europe, also built on strong brands.

5

5. Solid sustainability work

Midsona's offering fits well with the current trend for sustainability in the Company’s markets. Midsona’s strategy and mission build on a passion for healthy, natural and sustainable food, making sustainability an integral part of operations. Midsona’s vision is to influence people’s eating habits in the direction of healthy and sustainable options. Inline with the Company’s ambitions and the demands of customers, consumers and investors, Midsona has established clear sustainability targets for sustainable brands, a healthy work environment, responsible purchasing, safe products, efficient use of resources and efficient transports.

5 reasons to invest

5 reasons to invest

1/5

Underlying need to eat more healthy and sustainably

Midsona’s markets are driven by increasing interest in healthy, organic, and plant-based foods for personal and planetary health. While current declines are linked to financial uncertainty, global trends like an aging population, health awareness, and demand for transparency and sustainability position Midsona well for the future.

2/5

Clear mission is reflected in every aspect of the groups work

Midsona has a clear mission to help people achieve a healthier life and care for the environment. This permeates everything Midsona does – from the use of sustainable raw materials, to production, and all the way to the consumer’s door.

3/5

Active change efforts to meet the future food market

Midsona has built up a leading position in the Nordic region through acquisitions, a strategy that has since been extended to Europe. Based on the Company’s current position and brands, Midsona is focusing on an active change process aimed at strengthening profitability and building a more attractive offering, along with a more efficient apparatus that is set up for the food market of the future.

4/5

Leading positions with strong brands

Midsona holds a leading position in most of its sales channels, making the Company a priority supplier. The strategy is based on developing strong brands in attractive sectors. Midsona has several brands in the Nordics with a strong position in their respective categories. Acquisitions in Germany, France and Spain have laid the foundation for growth in the rest of Europe, also built on strong brands.

5/5

Solid sustainability work

Midsona's offering fits well with the current trend for sustainability in the Company’s markets. Midsona’s strategy and mission build on a passion for healthy, natural and sustainable food, making sustainability an integral part of operations. Midsona’s vision is to influence people’s eating habits in the direction of healthy and sustainable options. Inline with the Company’s ambitions and the demands of customers, consumers and investors, Midsona has established clear sustainability targets for sustainable brands, a healthy work environment, responsible purchasing, safe products, efficient use of resources and efficient transports.

Our market and presence

Midsona is a leading company in health and well-being, with a strong presence in the Nordic region and expanding markets in Germany, France, and Spain. With a focus on natural, organic, and plant-based products, Midsona’s portfolio includes trusted brands like Urtekram, Kung Markatta, and Davert. Guided by sustainability and consumer health trends, Midsona is shaping the future of the food and wellness industries through innovation, responsible sourcing, and efficient value chain management.

Our divisions
Division North Europe
(DE)
Division South Europe
(FR, ES)
Division Nordics
(SE, NO, FI, DK)
Division Nordics
65% of total sales in 2024
Division North Europe
24% of total sales in 2024
Division South Europe
11% of total sales in 2024

External factors and drivers

Targets & performance

Profitable growth
Target
3-5%
Organic sales growth*
Own brands >5%
Midsona's consumer brands account for ~60 percent of Group sales (2023)
Selective growth for private label and licensed brands
Outcome 2024
-0.7%
Organic sales growth
Outcome 2023
-6.6%
Organic sales growth
*Change in net sales in local currency, excluding acquired and/or businesses and/or brands
Higher margins
Target
>8%
Group’s EBIT* margin 2027
Higher share of sales from own brands
Strong cost synergies from Group-wide sourcing and specialised production
Profitability before volume for private label and licensed brands
Outcome 2024
3.4%
EBIT margin
Outcome 2023
1.6%
EBIT margin
*EBIT/Operating profit margin, before items affecting comparability
Capital structure
Target
<2.5x
Net debt/EBITDA*
Outcome 2024
1.6x
Net debt/EBITDA
Outcome 2023
2.7x
Net debt/EBITDA
*EBITDA, rolling 12 months including pro forma EBITDA from acquisitions and excluding acquisition related costs.

Targets & performance

Target
3-5%
Organic sales growth*
Own brands >5%
Midsona's consumer brands account for ~60 percent of Group sales (2023)
Selective growth for private label and licensed brands
Outcome 2023
-6.6%
Organic sales growth
*Change in net sales in local currency, excluding acquired and/or businesses and/or brands
Target
>8%
Group’s EBIT* margin 2027
Higher share of sales from own brands
Strong cost synergies from Group-wide sourcing and specialised production
Profitability before volume for private label and licensed brands
Outcome 2023
1.6%
EBIT margin
*EBIT/Operating profit margin, before items affecting comparability
Target
<2.5x
Net debt/EBITDA*
Outcome 2023
<2.7x
Net debt/EBITDA
*EBITDA, rolling 12 months including pro forma EBITDA from acquisitions and excluding acquisition related costs.

Strategy

One organic powerhouse

Actions:

  • Strengthening Key Brands: Focus on flagship brands like Kung Markatta, Urtekram, and Davert.
  • Geographical Collaboration: Leveraging cross-market synergies to better meet consumer needs.
  • Innovation: Developing new products in line with consumer trends for sustainability and health.
Grow and expand our health brands

Expanding the footprint of other health-focused brands:

  • Friggs: Targeting a broader consumer base for rice cakes and health teas.
  • Earth Control: Growing the range of snacks and nuts.
  • Gainomax: Expanding sports nutrition offerings into new markets.
Efficiency and harmonization

Midsona’s focus on simplifying product portfolios, harmonizing sourcing, and optimizing production aligns directly with this pillar. By creating a streamlined operational model, we can reduce costs, increase profitability, and ensure consistency across our core markets.

  • Portfolio simplification: Reducing complexity in our product offerings.
  • Shared sourcing and production: Harmonising raw material procurement across our regions

Financial overview

MSON B
Capital %
Votes %
Stena Adactum AB
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12 månaders trend
48.13
%
46.9
%
Dec 23, 2024
Charles Jobson
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12 månaders trend
5.04
%
4.91
%
Jun 22, 2023
Nordea Funds
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12 månaders trend
3.08
%
3
%
Dec 23, 2024
Rune Bro Róin
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12 månaders trend
2.59
%
3.16
%
Dec 23, 2024
Ralph Mühlrad
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12 månaders trend
2
%
1.95
%
Jun 26, 2024
Source: Monitor by Modular Finance AB. Compiled and processed data from various sources, including Euroclear, Morningstar and the Swedish Financial Supervisory Authority

Our story

Wilh Sonesson
1892
Wilh Sonesson

Wilh Sonesson, founded in 1892 by Wilhelm Sonesson, began as a wholesaling and trading business in the engineering industry. Over the years, it has evolved, giving rise to several prominent industrial and listed companies. Listed on the Stockholm Stock Exchange since 1966 and re-listed in 1999, the company shifted its focus to health in 2001. After acquiring Midelfart in 2006, it was renamed Midelfart Sonesson AB in 2007, with its registered office returning to Malmö.

Midelfart
1923
Midelfart

Midelfart is a well-known Norwegian family firm established in 1923 by Ole Midelfart. The company, with registered office in Oslo, has been owned and managed by the Midelfart family for four generations and has a long tradition and great knowledge in health, beauty and well-being.

Midsona
2010
Midsona

On 7 December 2010, shareholders decided to rename the company Midsona, reflecting its history and new unified identity. A new logo and graphic design were introduced to position Midsona as a leading Nordic company in health and well-being, emphasizing modernity, innovation, and helping people lead healthier lives.

Urtekram
2015
Urtekram

Midsona acquired Danish company Urtekram International A/S in July 2015 and thus established Midsona in Denmark. Urtekram is the Nordic leader within organic food.

Internatural
2016
Internatural

Midsona's acquisition of Internatural AB - with proprietary brands Kung Markatta and Helios - in July 2016 was the largest acquisition to date and took Midsona one step closer to achieiving the vision of being the Nordic leader within health and well-being.

Bringwell
2017
Bringwell

In May 2017, Midsona presented a public takeover bid to the shareholders of Bringwell. As per July 2017, Midsona controls 98.2 percent of the total number of shares and votes and has requested redemption of the remaining shares.

Davert
2018
Davert

In 2018, we began our journey into the rest of Europe when we acquired Davert GmbH, a pioneer in the German organic food industry founded in 1984 by Rainer Welke. Davert's brand and products complement Midsona's existing organic portfolio well.

Eisblümerl, Ekko Gourmet, & Alimentation Santé
2019
Eisblümerl, Ekko Gourmet, & Alimentation Santé

In 2019, Midsona expanded its European presence in organic and plant-based foods through several strategic acquisitions. In July, it acquired Germany’s Eisblümerl Naturkost GmbH and Sweden’s Ekko Gourmet AB, enhancing its product portfolio in Germany and Sweden. In October, the acquisition of Alimentation Santé SAS further established its foothold in France and Spain with leading brands like Celnat, Vegetalia, and Happy Bio.

Gainomax & System Frugt
2020
Gainomax & System Frugt

In 2020, Midsona broadened its healthy food portfolio by acquiring the Swedish sports nutrition brand Gainomax and the Danish company behind the Earth Control brand. These acquisitions solidified its leadership in sports nutrition and plant-based foods in the Nordic market.

Vitality
2021
Vitality

In October 2021, Midsona acquired the Finnish company Vitality, including its subsidiaries, strengthening its position in Finland and expanding its health and wellness product range.

The Board of Midsona is the highest management body beneath the Annual General Meeting and is responsible for the organisation and management of Midsona's affairs. It shall primarily engage in the more overarching and long-term issues that are of substantial significance for the Group's future focus.

Patrik Andersson
Chairman of the Board, Chairman of the Remuneration Committee, Board member.
Tomas Bergendahl
Board member
Anna-Karin Falk
Board member
Sandra Kottenauer
Board member
Jari Latvanen
Board member, Member of the Audit Committee
Anders Svensson
Board member, Member of the Audit Committee
Johan Wester
Board member, Member of Remuneration Committee
Peter Åsberg
CEO and President
Max Bokander
CFO
Marjolaine Cevoz-Goyat
Division Director South Europe
Åsa Gavelstad
Director HR
Heiko Hintze
Divison Director North Europe
Josefin Kronstrand
Director Sourcing
Tora Molander
Director Legal
Tobias Traneborn
Director Operations
Anna Törnebrant
Chief Marketing Officer
Markus Wessner
Division Director Nordics
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