Flügger Group (FLUG) Q2 25/26 earnings summary

Executive summary

• H1 2025/26 revenue increased by 2% to 1,264mDKK, with EBIT up 1% to 141mDKK, driven by improved customer and product mix, cost reductions, and stabilized production costs, despite one-off costs and structural investments.

• Growth was supported by strong performance in core Nordic and Polish markets, while declines were noted in other international and export markets.

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

• Revenue was positively impacted by currency effects and the phaseout of low-price DIY/private-label categories.

Financial highlights

• Gross margin reached a historic high of 56.5%, up 1.6 percentage points year-over-year.

• H1 2025/26 revenue was 1,264mDKK, up 2% from 1,243mDKK in H1 2024/25.

• EBIT rose slightly to 141mDKK from 140mDKK year-over-year.

• 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.

Outlook and guidance

• Full-year 2025/26 guidance maintained: revenue expected at 2,200–2,400mDKK and EBIT at 100–120mDKK, representing a 6–28% increase over last year.

• Focus remains on core brand, digital B2B platform, and international store expansion, with Nordic market activity expected to be stable or slightly increasing and international growth mainly from Poland.

• Dividend payout of DKK 10/share announced in conjunction with H1 report.