Fenix Outdoor (FOI-B) Q3 2025 earnings summary

Executive summary

• Third quarter saw improved sales and profitability, with net sales up 4.5% year-over-year to €206.4M and operating profit rising to €32.1M from €28.6M.

• Growth was driven by punctual preorder deliveries and the acquisition of Devold, with brick-and-mortar outperforming digital sales.

• The nine-month period showed a slight decline in total income (-0.4%) and lower profitability, with profit after tax at €10.9M versus €17.9M last year.

Financial highlights

• Q3 total income: €212.3M (+6.5% year-over-year); EBITDA: €46.9M (up from €43.6M); operating profit: €32.1M (up from €28.6M).

• Q3 profit after tax: €20.9M (up from €18.4M); EPS: €1.50 (up from €1.38).

• Nine-month total income: €518.9M (down 0.4%); EBITDA: €71.5M (down from €78.1M); operating profit: €30.0M (down from €34.8M).

• Nine-month profit after tax: €10.9M (down from €17.9M); EPS: €0.80 (down from €1.34).

Outlook and guidance

• Q4 performance is expected to depend heavily on weather conditions, with Devold anticipated to contribute positively.

• Preorder book for spring is reasonable, and further contributions from Devold are expected as rollout in new markets begins.

• Focus for next year will be on increasing market presence and marketing spend.