Accounting policies
Where events occur after the balance sheet date that provide evidence of conditions that existed at the end of the reporting period, the impact of these events is adjusted within the Financial Statements. Otherwise, events after the balance sheet date of a material size or nature are disclosed below.
As mentioned in note 27, in December 2025, Andfjord Salmon Group AS initiated a capital increase, for which JMA made an advance payment of €20 million. This capital increase was only concluded in January 2026, with JMA receiving an additional 9 million shares, increasing its total interest to 39.72%.
In October 2025, an Agreement was entered into for the acquisition of the Luís Vicente Group business (a business unit within the Nuvi Group in Portugal dedicated to the production and marketing of fruit and horticultural products) by the subsidiary Supreme Fruits, Lda. (Supreme Fruits). This Agreement also provided for the acquisition of the remaining 20% of the share capital of Supreme Fruits not yet owned by the Group, which was completed in December 2025, after the Competition Authority had notified the Group of its decision of non-opposition. As the Agreement was still subject to certain conditions precedent, the transfer of the Luís Vicente Group’s operations to Supreme Fruits was only formalised on 9 January 2026. On 13 January 2026, Supreme Fruits also acquired 100% of the company Plump España, S.L.U. (an international fruit and vegetable trading unit).
On 6 January 2026, the Group publicly announced that it would discontinue the operations of Hussel Ibéria – Chocolates e Confeitaria, S.A. (Hussel), with the progressive closure of the 18 stores expected to take place until 30 April 2026. The estimated costs associated with Hussel’s discontinuation have already been recognised in the 2025 financial statements.
Apart from the matters described above, no other significant events occurred up to the date of the completion of this Report that are not reflected in the Consolidated Financial Statements.
Lisbon, 17 March 2026
The Certified Accountant
The Board of Directors