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Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Harboes Bryggeri
Harboes Bryggeri (HARB) investor relations material
Harboes Bryggeri Q1 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 26/27 earnings summary21 Sep, 2026
Executive summary
Revenue grew by 5% year-over-year, driven by strong performance in Germany and export markets.
Earnings declined due to higher-than-expected distribution and procurement costs, with EBIT halved compared to last year.
Both Beverage and Ingredients segments delivered volume and revenue growth.
Management maintains full-year guidance despite Q1 margin pressure.
Financial highlights
Net revenue increased to 482 mDKK from 461 mDKK year-over-year.
EBIT fell to 11 mDKK from 21 mDKK; pre-tax profit dropped to 7 mDKK from 19 mDKK.
EBITDA margin decreased to 6.6% from 9.0% year-over-year.
Free cash flow improved to 52 mDKK from 33 mDKK.
Net interest-bearing debt rose to 291 mDKK, up 130 mDKK year-over-year.
Outlook and guidance
Full-year EBITDA expected at 130–160 mDKK; pre-tax profit forecast at 30–60 mDKK.
Growth anticipated in focus markets, especially Germany and Ingredients.
Continued investment in sales, marketing, and production efficiency planned.
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Latest events from Harboes Bryggeri
- Revenue down 4% as focus shifts to own brands and efficiency investments drive future growth.HARB
Q4 25/26 - Revenue and profit fell on export and German weakness, but Danish and Ingredients growth continued.HARBQ3 25/26
- Own brands and Ingredients growth offset lower private label sales; EBITDA margin at 7.8%.HARBQ4 24/25
- Revenue down 6% and EBITDA down 18% as focus shifts to own brands and Danish growth.HARBQ2 25/26
- Revenue down 8% as focus shifts to own brands, with Danish growth offsetting German decline.HARBQ1 25/26
- Strong H1 growth, margin improvement, and focused investments support a positive outlook.HARBQ2 24/25
- Q1 revenue and profit rose, driven by Denmark and export, with guidance unchanged.HARBQ1 24/25
- Harboe delivered strong revenue and earnings growth, with a positive outlook for 2024/25.HARBQ4 23/24
- Q3 revenue up 3%, but margin pressure leads to lower full-year outlook.HARBQ3 24/25
Next Harboes Bryggeri earnings date
Q2 26/2717 Dec, 2026
Harboes Bryggeri
Next Harboes Bryggeri earnings date
Q2 26/2717 Dec, 2026
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Frequently asked questions
Harboes Bryggeri A/S is a Denmark-based company engaged in the production and marketing of beverages and malt-based food ingredients. Its product portfolio includes beer, energy drinks, malt beverages, soft drinks, water, and juices, marketed under various brands like Harboe, Bear Beer, Darguner, and Hyper Malt. Harboes supplies these products to over 90 markets globally, catering to supermarket chains, food manufacturers, and distributors. The company is headquartered in Skælskør, Denmark, and its shares are listed on Nasdaq Copenhagen.