Flügger Group (FLUG) Q2 25/26 earnings summary

Executive summary

• Revenue increased by 2% year-over-year to DKK 1,264 million in H1 2025/26, with EBIT up 1% to DKK 141 million, in line with expectations.

• Growth was driven by improved customer and product mix, cost reductions, and stabilization of production costs, offset by one-time costs from scaling down private-label and exiting certain export markets.

• Cash flows remained strong, enabling a dividend payout of DKK 10 per share.

Financial highlights

• Gross profit rose 5% year-over-year to DKK 714 million, with gross margin at a historic high of 56.5%.

• Net profit after tax and minorities was DKK 101 million, unchanged from last year.

• Operating cash flow was DKK 254 million, slightly above last year.

• Net interest-bearing debt (excl. leasing) reduced to DKK 104 million from DKK 157 million in H1 2024/25.

Outlook and guidance

• Full-year revenue guidance maintained at DKK 2,200–2,400 million.

• EBIT expected at DKK 100–120 million, with continued improvement anticipated from core business and strengthened customer portfolio.

• Nordic market activity expected to be stable to slightly increasing; international growth mainly driven by Poland.