Gabriel Holding (GABR) Q2 24/25 earnings summary

Executive summary

• Revenue grew by 7.8m DKK to 476.8m DKK in H1 2024/25, with all units except North American FurnMaster showing improvement.

• EBIT rose to 16.0m DKK (10.5m DKK prior year), and profit before tax reached 9.2m DKK (1.2m DKK prior year).

• Continued operations saw 9% revenue growth and EBIT of 20.9m DKK (4.2m DKK prior year).

• Discontinued FurnMaster activities are under sale and reported as discontinued operations.

Financial highlights

• Group EBITDA for H1 was 44.7m DKK (35.0m DKK prior year); EBIT was 16.0m DKK (10.5m DKK prior year).

• Q2 revenue increased 3% to 248.7m DKK; Q2 EBITDA was 30.8m DKK (19.1m DKK prior year).

• Net profit after tax for H1 was 8.2m DKK (0.3m DKK prior year), including discontinued operations.

• Cash flow from operations was 51.5m DKK (17.7m DKK prior year).

• Investments totaled 4.9m DKK (8.5m DKK prior year).

Outlook and guidance

• Management maintains full-year guidance: revenue from continuing operations of 485–530m DKK (0–10% growth) and EBIT of 20–30m DKK.

• Market conditions remain challenging due to geopolitical risks, tariffs, inflation, FX, and interest rates.

• Guidance is subject to significant uncertainty from these market risks.