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Edge1 May 2026
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The story of Marlboro's transformation from a women's cigarette to a global icon: one of the most effective brand repositionings in history.
Brødrene A & O Johansen
Brødrene A & O Johansen (AOJ) investor relations material
Brødrene A & O Johansen Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary1 May, 2026
Executive summary
Q1 2026 revenue grew 6.5% year-over-year, with organic growth of 5.3% and additional 1.2% from VVS-Eksperten.dk.
Gross margin improved slightly to 24.0% from 23.9% in Q1 2025.
EBITDA reached DKK 98.9m, maintaining a 6.3% margin, in line with expectations.
Market share increased, with B2B up 4.5% and B2C up 16.1% (9.2% organic).
Acquisition of JMV Cables A/S agreed, pending regulatory approval.
Financial highlights
Revenue: DKK 1,582.0m (Q1 2025: DKK 1,486.1m).
Gross profit: DKK 380.3m (Q1 2025: DKK 355.8m).
EBITDA: DKK 98.9m (Q1 2025: DKK 93.5m).
EBIT: DKK 58.1m (Q1 2025: DKK 60.4m).
Net profit: DKK 42.7m (Q1 2025: DKK 40.1m).
Cash flow from operating activities: DKK -30.6m (Q1 2025: DKK -199.2m).
Outlook and guidance
2026 revenue expected at DKK 6,400–6,600m, growth of 4.6–7.8%.
EBITDA guidance: DKK 460–500m; EBT: DKK 260–300m.
Guidance excludes impact from JMV Cables A/S acquisition.
Sensitivity to geopolitical, macroeconomic, and supply chain risks noted.
Strategic rationale for JMV Cables acquisition
B2B margin impact from Swedish store expansion
Revenue mix sensitivity in 2026 guidance
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Latest events from Brødrene A & O Johansen
- Q2 2025 saw 15% revenue growth, margin gains, and raised full-year guidance.AOJ
Q2 202510 Mar 2026 - Record 2025 results and margin gains set up 2026 for further growth amid project margin pressure.AOJQ4 202526 Feb 2026
- Revenue guidance raised for 2024, but margin pressure and cost risks remain significant.AOJQ2 20241 Feb 2026
- Q3 revenue up 7.9% with record B2C growth, but margin pressure persists.AOJQ3 202418 Jan 2026
- Record Q4 sales and digital growth drive 2024 results; 2025 outlook targets higher EBITDA.AOJQ4 202423 Dec 2025
- Record Q1 revenue and margin gains support a strong, stable outlook for 2025.AOJQ1 202523 Dec 2025
- Q3 2025 saw 10.5% revenue growth, strong B2C gains, and narrowed 2025 guidance.AOJQ3 20255 Nov 2025
Next Brødrene A & O Johansen earnings date
Q2 202618 Aug, 2026
Brødrene A & O Johansen
Next Brødrene A & O Johansen earnings date
Q2 202618 Aug, 2026
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