Fenix Outdoor (FOI-B) Q1 2026 earnings summary

Executive summary

• Total income increased by 5.2% year-over-year to €168.5M for Q1 2026, with net sales at €165.9M.

• EBITDA rose to €23.1M from €18.0M, and operating profit improved to €7.7M from €5.2M year-over-year.

• Profit after tax surged to €4.7M from €0.1M, with EPS at €0.37 versus €0.01 in Q1 2025.

• Sales rebound in January and February, especially in the Nordics, offset a slowdown in March, mainly in Germany.

• Operational challenges from a new ERP system and extraordinary costs, including restructuring at Globetrotter and IFRS lease corrections, impacted results.

Financial highlights

• Net sales: €165.9M (up from €157.7M year-over-year).

• EBITDA: €23.1M (up from €18.0M year-over-year).

• Operating profit: €7.7M (up from €5.2M year-over-year).

• Profit before tax: €5.8M (up from €3.7M year-over-year).

• Net profit: €4.7M (up from €0.1M year-over-year).

• Earnings per B-share: €0.37 (up from €0.01 year-over-year).

• Solvency rate: 53.5% (down from 57.7% year-over-year).

• Cash and cash equivalents: €49.2M (down from €57.8M year-over-year).

Outlook and guidance

• Management expresses cautious optimism for the rest of 2026, citing a strong start to the year.

• Short-term risks from geopolitical conflicts, but potential medium-term opportunities if travel declines and domestic spending rises.

• Ongoing business model changes aimed at efficiency and service improvements.