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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.
Thermador Groupe
Thermador Groupe (THEP) investor relations material
Thermador Groupe Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary19 Oct, 2026
Executive summary
9M turnover reached €416.965m, up 8.8% reported and 4.0% at constant scope; headcount remained stable at 900.
Professional channels and selected markets supported growth, while retail, housing and watering demand remained weak.
Financial highlights
9M turnover was €416.965m versus €383.088m in 2025; constant-scope turnover was €398.459m.
Q1 turnover rose 9.6% reported and 4.2% at constant scope; Q2 rose 13.0% and 7.0%; Q3 rose 3.7% and 0.6%, respectively.
Q3 constant-scope growth eased to 0.6% after orders were brought forward to Q2 ahead of price increases; the Q3 2025 comparison was less favourable.
Selling-price effect improved to -0.2% from -0.9% at end-June; organic growth was 4%.
Outlook and guidance
Management expects a positive full-year 2026 price effect and favorable comparisons to support positive Q4 turnover growth; demand is expected to be stable at best in coming months.
Annual growth objective remains above 7%, targeting a doubling in size every 10 years, with roughly half from acquisitions and half from organic growth.
2027 supplier, transport and carbon-border cost increases are expected to be passed through to customers; price adjustments are being prepared to protect margins.
Priorities include innovation, niche markets, market share and geographic expansion; international external-growth opportunities are prioritized.
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Latest events from Thermador Groupe
- A resilient 2023, with growth plans advancing amid market and employee-share-plan challenges.THEP
AGM 2024 - Stable FY2025 results, record cash generation and a governance transition amid rising risks.THEPAGM 2026
- Despite a tough year, strong governance, cash reserves, and strategic focus drive resilience.THEPAGM 2025
- Turnover and profits fell in H1 2024, but margins and cash position improved.THEPInvestor presentation
- Q1 2026 turnover grew 9.6% to €142.4m, with strong cash and steady dividend returns.THEPInvestor presentation
- Turnover fell 13.3% and profits dropped, but dividend and acquisitions continued.THEPH2 2024
- Turnover up 11.3% and net profit up 17.6% in H1 2026, with improved margins and strong cash flow.THEPH1 2026
- Revenue and profit declined, but recovery signs and strategic acquisitions support future growth.THEPH1 2025
- Sales and profit dropped sharply, but financial strength and strategic moves support resilience.THEPH1 2024
Next Thermador Groupe earnings date
H2 20262 Mar, 2027
Thermador Groupe
Next Thermador Groupe earnings date
H2 20262 Mar, 2027
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Frequently asked questions
Thermador Groupe SA is a French holding company that specializes in the distribution of equipment for fluid circuits in construction, industry, and public works. The company operates through several subsidiaries, each focused on different aspects of fluid control, including the distribution of plumbing materials, domestic pumps, heating and ventilation systems, and industrial valves. Its products serve a wide range of customers, including wholesalers, DIY stores, and professionals in construction and industrial sectors. Thermador Groupe is headquartered in Saint-Quentin-Fallavier, France, and its shares are listed on the Euronext Paris.