Leifheit (LEI) investor relations material

Executive summary

• H1 turnover was €116.3m, down 5.8% amid weak demand and contracting markets; gross margin rose to 46.2%, while EBIT was -€2.7m.

• Strategy centers on the brand relaunch and FOCUS efficiency program; FY2026 guidance targets break-even EBIT and free cash flow.

Financial highlights

• H1 gross profit was €53.7m versus €54.1m; gross margin rose 2.4pp to 46.2%, or 0.9pp versus prior-year margin before special items.

• EBIT was -€2.7m versus €2.0m; higher advertising and logistics costs and lower sales contribution margins outweighed gross-margin improvement.

• EBT was -€3.5m versus €1.4m; net result was -€2.4m versus €1.0m, and EPS was -€0.26 versus €0.11.

• H1 free cash flow was -€7.3m; Q2 free cash flow was +€4m.

• H1 investments were €2.3m versus €3.8m; depreciation was ~€0.5m higher due to production and logistics investments.

Outlook and guidance

• FY2026 turnover is expected to decline slightly from €232.6m; EBIT and free cash flow are each forecast at break-even.

• EBIT before FOCUS special items is forecast at €5.4m; up to €5.4m of FOCUS costs is expected to affect FY2026 earnings.

• Household turnover is expected to decline slightly, Wellbeing by a mid-single-digit rate, and Private Label to grow by a high-single-digit rate.

• H2 sales are expected at prior-year levels; promotions, customer activation, innovations and stronger point-of-sale presence support the outlook, which remains cautious.

• Medium-term targets are 3%-6% sales growth and a 7%-10% EBIT margin; Vision 2030+ targets sales above €300m and EBIT margin above 10%.