Schouw & Co (SCHO) investor relations material

Executive summary

• Record Q3 revenue rose 16% to DKK 10,646m and EBITDA rose 37% to DKK 1,199m, reflecting broad-based improvements from higher activity, operating leverage and efficiency.

• Profit before tax increased 69% to DKK 881m; strong results and backlogs supported higher FY 2026 guidance.

Financial highlights

• Q3 EBIT rose 51% to DKK 894m; profit for the period was DKK 663m versus DKK 375m a year earlier.

• 9M revenue increased 6% to DKK 27,310m and EBITDA rose 22% to DKK 2,618m.

• Q3 operating cash flow increased to DKK 966m from DKK 894m; 9M operating cash flow was DKK 1,402m versus DKK 1,656m, reflecting higher working-capital needs.

Outlook and guidance

• FY 2026 revenue guidance increased to DKK 36,200–38,100m and EBITDA to DKK 3,375–3,525m; profit before tax is forecast at DKK 2,015–2,165m.

• BioMar raised revenue guidance to DKK 17,800–18,600m and EBITDA to DKK 1,720–1,790m; GPV raised guidance to DKK 8,800–9,200m revenue and DKK 740–770m EBITDA.

• HydraSpecma maintained revenue guidance at DKK 3,400–3,600m and raised EBITDA to DKK 445–465m; Fibertex Nonwovens raised guidance to DKK 2,600–2,700m revenue and DKK 280–300m EBITDA.

• Fibertex Personal Care raised EBITDA guidance to DKK 170–190m; Borg Automotive narrowed revenue guidance to DKK 1,600–1,700m and raised EBITDA to DKK 95–110m.

• Spectre 2026 guidance covers four months, with revenue of DKK 300–400m and EBITDA around break-even; 2030 ambition is DKK 1.7–2.0bn revenue and 15%–17% EBITDA.