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Harboes Bryggeri (HARB) investor relations material
Harboes Bryggeri Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary24 Sep, 2025
Executive summary
Revenue declined by 8% year-over-year to 461 mDKK, mainly due to a strategic reduction in low-margin private label sales in Germany and lower export volumes.
Share of own brands in Beverage segment increased by 6%, with own brand sales up 11%, especially in Denmark.
EBITDA margin was 9.0%, below the 10% target, and EBIT was 21 mDKK, both lower than last year.
Investments in new production lines in Denmark and Germany aim to improve efficiency and support future growth.
Financial highlights
Net revenue: 461 mDKK (down 8% year-over-year).
EBITDA: 41 mDKK (down from 52 mDKK last year); EBIT: 21 mDKK (down from 33 mDKK).
Net income: 13.7 mDKK (down from 23.2 mDKK).
Free cash flow improved to 33 mDKK from 15 mDKK last year.
Net interest-bearing debt increased to 161 mDKK, up 33 mDKK year-over-year due to investments.
Outlook and guidance
Full-year guidance maintained: EBITDA of 130–160 mDKK and pre-tax profit of 30–60 mDKK.
Strategic focus remains on own brands, efficiency, and cost adaptation, especially in Germany.
Continued investments in production and supply chain to drive efficiency and cost savings.
German cost adaptation timeline?
EBITDA margin improvement actions?
New German production line benefits?
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Next Harboes Bryggeri earnings date
Q2 202618 Dec, 2025
Next Harboes Bryggeri earnings date
Q2 202618 Dec, 2025
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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.
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