Fleury Michon Sees Solid Growth in 2025, Driven by France and International Markets
Fleury Michon’s revenue is on the rise, supported by increased sales in French retail stores (GMS) and growth in its international airline catering business. At the same time, the company continues to invest in its industrial infrastructure to sustain this momentum.
Fleury Michon Group has released its financial results for the year 2025, marked by a 3.6% growth in consolidated revenue on a like-for-like basis, reaching 836.4 million euros compared to 807 million euros in 2024. This increase is mainly attributed to higher sales volumes in the French retail sector and the remarkable performance of its international airline catering business, which saw a growth of over 10%, surpassing international air traffic growth.
Revenue Growth in France
In France, GMS sales saw a 2.6% increase, with volumes rising by 4.4%. Fleury Michon maintained its position as the national leader in volume and value in the deli and catered segments. Sales of individual ready meals outperformed with an 8.8% volume growth, compared to an average of 1.1% in the market. The “Vegetarian Slices” range, launched in April 2024, saw a significant success with a doubling of volumes in one year. The surimi market, after two years of decline, stabilized, and Fleury Michon recorded a sales rebound in the second half thanks to the relaunch of its range.
The international sector also showed a notable growth of 10.2% (13.8% at constant exchange rates), now representing 13% of the group’s total revenue. This performance is primarily due to the airline catering business, which attracted new major clients across different continents. To meet the increasing demand, Fleury Michon plans to open a production site in Covington, Kentucky, USA, in 2026 and 2027.
Operational Margin Contraction
Despite these encouraging results, the group saw its operational margin contract by 1.5%, equivalent to 12.2 million euros, due to rising costs of raw materials, particularly poultry, affected by record global demand and avian influenza outbreaks. Net income from continuing operations also decreased, from 13.3 million euros in 2024 to 8.4 million euros in 2025, partly due to the sale of a stake in Platos Tradicionales in June 2024.
The “Other French Sectors” division, which includes airline catering from France and out-of-home dining (RHD), recorded a 5.3% revenue growth. The RHD segment performed particularly well with a 10.4% increase, supported by the launch of the “Fleury Michon Restauration” offering for professional markets in sandwich shops, bakeries, and fast food outlets.
Over 42 million euros in investments
In terms of investments, the group allocated 42.1 million euros to upgrading its production facilities and ecological transition. Additionally, it increased its stock to meet volume growth, especially in airline catering, and to secure strategic raw materials. These decisions led to a negative cash flow variation of 30.9 million euros for the year.
For the year 2026, Fleury Michon remains optimistic despite uncertainties related to raw material market volatility. The company relies on its team’s quality, industrial infrastructure, and economic model to sustain its growth. The Board of Directors will propose a dividend payment of 1.35 euros per share at the General Meeting scheduled for June 9, 2026.
Context: Fleury Michon, a French food company known for its deli and ready-to-eat meals, reported strong financial performance in 2025, driven by growth in both domestic and international markets.
Fact Check: The article mentions specific financial figures and business strategies of Fleury Michon, providing a detailed overview of the company’s operations and performance in 2025.
