Glunz & Jensen Holding (GJ) H1 2025 earnings summary

Executive summary

• H1 2025 results exceeded expectations, with improvements in revenue, margins, net income, and inventory management compared to H1 2024.

• Implementation of Plan-2026 drove operational consolidation, cost control, and new market focus.

• A formal review process for the potential sale of Selandia Park A/S or its assets has been initiated.

Financial highlights

• Revenue rose 14.8% year-over-year to DKK 74.5 million (H1 2024: DKK 64.9 million).

• Gross profit increased to DKK 19.6 million (H1 2024: DKK 15.0 million), with a margin of 26.3%.

• EBITDA more than doubled to DKK 9.5 million (H1 2024: DKK 4.1 million).

• Profit before tax was DKK 6.3 million (H1 2024: DKK 1.0 million); EPS at DKK 2.7 (H1 2024: DKK 0.4).

• Free cash flow turned positive at DKK 1.6 million (H1 2024: negative DKK 0.4 million).

Outlook and guidance

• 2025 revenue is expected at approximately DKK 132 million, EBITDA around DKK 15 million, and profit before tax of about DKK 8 million.

• Guidance excludes potential fair value adjustments to investment property.

• Management will update guidance if material deviations occur.