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HusCompagniet (HUSCO) investor relations material
HusCompagniet Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased 29% year-over-year to DKK 2,957m in 2025, driven by a market rebound and strong Danish segment performance.
Net order backlog rose 20% to DKK 2,282m at year-end, supporting future growth.
EBITDA declined to DKK 61m (margin 2.1%) from DKK 104m (margin 4.5%) in 2024, with EBIT at DKK 15m.
Customer loyalty remained high, with a Trustpilot score of 4.8 despite negative media coverage.
Strategic shift in semi-detached segment prioritizes profitability over growth, focusing on own projects and risk management.
Financial highlights
Q4 2025 revenue was DKK 789m, up from DKK 647m in Q4 2024, with gross profit margin at 14.9%.
Full-year gross profit was DKK 488m (16.5% margin), mainly from detached and wooden houses.
Free cash flow improved to DKK 102m for the year, supported by working capital changes.
Provision for potential future remediation of mortar joints in detached houses recognized in Q4, based on third-party evaluation.
Staff costs for production employees reclassified as cost of sales, impacting gross profit comparability.
Outlook and guidance
2026 revenue expected at DKK 3.0–3.3bn, with 1,000–1,300 house deliveries.
EBITDA guidance for 2026 is DKK 70–130m; EBIT expected at DKK 15–75m.
Profitability in 2026–H1 2027 will be affected by three challenged B2B projects.
No dividend distribution in 2026; dividends to resume only when leverage is below 2x net debt/EBITDA.
Long-term target for semi-detached EBITDA margin remains 8–10% by 2028.
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