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Edge16 Oct 2026
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.
TCM Group
TCM Group (TCM) investor relations material
TCM Group Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary20 Aug, 2026
Executive summary
Q2 revenue increased 7.4% year-over-year to DKK 375 million, with organic growth of 0.6%.
Norway revenue surged 22.7% year-over-year, reflecting improved trading conditions and market recovery.
Order intake was significantly higher than last year in both B2B and B2C, boosted by pre-July price increases.
CEO transition occurred on August 1st, with Jens-Peter Poulsen taking over.
B2C segments drove growth, while B2B remained weak due to external uncertainties.
Financial highlights
Gross margin stable at 23.8% (up from 23.7% in Q2 2025); year-to-date gross margin at 23.5% vs. 22.5% last year.
Adjusted EBITA/EBITDA was DKK 32.2 million (margin 8.6%), down from DKK 36.1 million (margin 10.3%) in Q2 2025.
Net working capital ratio improved to -2.3% from -0.7% last year.
Free cash flow in Q2 was DKK 32.3 million, in line with last year; H1 free cash flow was DKK 80.4 million, up from DKK 28.5 million.
Net interest-bearing debt rose to DKK 397 million, mainly due to the Celebert acquisition and dividend payout.
Outlook and guidance
Full-year 2026 revenue expected at DKK 1.4–1.5 billion; adjusted EBITA/EBITDA guidance at DKK 120–140 million.
Guidance maintained despite geopolitical uncertainties and mixed market signals.
Gross margin expected to improve in H2, with Q3 in line with Q2 and Q4 higher.
Lower OpEx ratio anticipated in H2 due to reduced one-off costs.
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Latest events from TCM Group
- Revenue up 17.6% with margin gains and strong outlook, but caution amid volatility.TCM
Q1 2026 - 2025 revenue rose 6.3% to DKK 1,279m, with Q4 up 10.5% and 2026 guidance signaling further growth.TCMQ4 2025
- Q3 revenue up 4.1%, margins improved, Celebat/Celebert acquired, 2025 guidance narrowed.TCMQ3 2025
- Q2 revenue up 5.1%, EBIT up 20%, 2025 guidance narrowed amid softer demand and M&A activity.TCMQ2 2025
- Q3 2024 saw strong B2C-driven growth, margin expansion, and improved earnings guidance.TCMQ3 2024
- Q2 revenue up 30% and guidance raised as B2C and AUBO drive growth, despite B2B weakness.TCMQ2 2024
- B2C growth and margin gains drove 11% revenue rise, with positive 2025 outlook.TCMQ4 2024
- Revenue up 5.3% in Q1 2025, with margin gains, B2C and Norway growth, and cautious outlook.TCMQ1 2025
Next TCM Group earnings date
Q3 202626 Nov, 2026
TCM Group
Next TCM Group earnings date
Q3 202626 Nov, 2026
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Frequently asked questions
TCM Group is a Danish company that designs, manufactures, and sells kitchen and furniture solutions. It offers a range of kitchen, bathroom, and storage furniture products, catering primarily to the home improvement and residential markets. The company's product lines include both ready-to-assemble and fully assembled options, which are distributed through various channels, including independent kitchen retailers and its own store brands. TCM Group emphasizes functionality and design in its offerings, targeting consumers seeking modern and customizable interior solutions. The company is headquartered in Holstebro, Denmark, and its shares are listed on the Copenhagen Stock Exchange.