Gyldendal (GYLD) H2 2025 earnings summary

Executive summary

• Achieved EBIT before special items of DKK 62m, doubling last year's DKK 31m and exceeding initial guidance of DKK 30-40m; revenue reached DKK 799m, above the expected DKK 730-755m, driven by strong publishing and acquisitions.

• Strategic acquisitions included Strandberg Publishing, Alvilda, Gutkinds B&U portfolio, Skoledu, and Konfront, strengthening market position and supporting long-term growth.

• Entered 2026 with a robust outlook, expecting revenue of DKK 810-850m and EBIT margin of 8-9%.

Financial highlights

• Revenue increased to DKK 798.7m from DKK 722.7m year-over-year; EBIT before special items rose to DKK 61.7m from DKK 30.5m.

• EBITDA margin before special items improved to 16.6% (2024: 14.1%); EBIT margin before special items at 7.7% (2024: 4.2%).

• Net income after tax was DKK 40.8m, up from DKK 22.7m; EPS increased to DKK 40.1 (2024: DKK 22.4).

• Dividend of DKK 20 per share proposed for 2025.

Outlook and guidance

• 2026 guidance: revenue DKK 810-850m, EBIT margin 8-9%.

• Growth expected from full-year effect of 2025 acquisitions and improved market conditions.